Ghana Exim Bank To Sustain Manufacturing, Export Sectors

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Mr Haruna Iddrisu, Minister of Employment and Labour Relations, has disclosed that the Ghana Exim Bank will soon be established to sustain both the manufacturing and export sectors.

Iddrisu, made this disclosure while speaking at the 55th Annual General Meeting (AGM) and Business Luncheon of the Ghana Employers’ Association (GEA) in Accra, added  that the official declaration to that effect will be made by December this year.

He said the bill to that effect will soon be laid in Parliament to make way for the establishment of the Ghana Exim Bank to complement the Ghana National Promotion Council’s efforts to promote investments in Ghana.

He explained that for the private sector to prosper, it needs both the public and private sectors to grow and called for re-orientation of Ghanaians by establishing a relationship between them and the private sector.

The Minister of Employment and Labour Relations maintained that looking up to the public sector for employment will soon be over  as graduates from tertiary institutions and polytechnics will be equipped to be in better positions to create jobs for themselves and others.

Speaking further, the Chief Executive Officer of KAMA Industries Limited, Dr Michael Agyekum Addo, urged government to create an enabling environment to encourage entrepreneurs, who are privileged to create businesses to be able to grow and flourish.

In all these, he said, government could do more through providing tax breaks for new businesses; improve upon the supply of essential amenities such as water and electricity; a responsive judicial, free from corruption and government interference, that is committed to protecting local businesses and improving upon infrastructural projects throughout the country.

Dr Addo said the above actions would help create jobs to augment the entrepreneurs’ efforts, stressing that the 21st century has come with its challenges, as ICT, with its numerous applications, is replacing the manual systems, and thereby creating more unemployment.

The way forward, according to him is to shift to entrepreneurial revolution, which is more powerful than the industrial revolution.

He called for intensified education of the youth, to be able to think, teach, and create with an entrepreneurial mindset.

The Ist Vice President of GEA, Dr Adu Gyamfi, harped on the need for employers to work within themselves to get basic data on unemployment rate in Ghana to enable them to create more jobs to absorb the number of graduates being churned out yearly.

Interestingly, he said the private sector has an important role to play and needs to dialogue with government to see how to create more jobs to promote growth in the country.

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