Government of Ghana asked to raise $5 billion after agreeing to host the Secretariat for ACFTA

This, according to the leading think tank, will enable the growth and expansion of local industries in the country.

ADI also wants the Association of Ghanaian Industries (AGI) the Ghana Chamber of Commerce and Industry (GCCI) and the Ghana Export Promotion Authority (GEPA) to help in raising the amount.

“It is also imperative for government and the private sector to catapult the drive of this continental free trade. Associations such as the Association of Ghanaian Industries, the Ghana Chamber of Commerce and Industries, Ghana Export Promotion Authority could also take advantage of this and use it as a launchpad for their members,” ADI said in a release.

The ADI also urged the government to support and promote business associations so they can explore the opportunities to enable them to make an entry into other African countries.

“This is the time for Ghana to take the lead as well as take advantage of this continental free to grow and strengthen its export market, as it has already begun with the 1D1F and the Planting for Exports Rural Development initiatives, it said.

Adding that “Ghana’s economy can easily pay back the $5 billion credit facility that we are calling for through the exports of key commodities such as avocado, pineapple, coconut, sweet potato, among others.”

The United Nations Economic Commission for Africa estimates that the AfCFTA will boost intra-African trade by 52% by 2022.

With this, the ADI is admonishing the government to raise the $5 billion to take advantage of this opportunity which would put a stop to the way the government siphons the economy and still demand output.

“If we fail to take advantage of this opportunity then there is the likelihood that the economic growth of this country would be stagnant. We must take advantage of this opportunity to redeem our credibility integrity, capability in terms of industrialisation,” the statement signed by Francis Mensah, Convener of ADI, stated.