My govt is a natural cheerleader for the private sector – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has said that his government will continue to support private businesses in the country.

Mr Akufo-Addo stated that heavy investment in the economy is the most effective way to expand and strengthen it in order to create the many jobs the young people so ardently want.

He said these on Tuesday, 14th march 2023, when he commissioned the expanded GB Foods Factory in Tema with the pledge to continue unleashing the innovative, entrepreneurial instincts of the Ghanaian private sector to drive rapid growth and create jobs.

The president explained that, Ghana had been “modestly successful in making the Ghanaian economy not only one of the most business-friendly economies in Africa, but also one of the fastest growing economies in the world between 2017 and 2020, averaging 7% GDP annual rates of growth, up from the 3.4% rate we inherited in 2016, the lowest in two (2) decades.”

He continued that, “in spite of upheavals on the global economic terrain, our goal remains constant – and that is to unleash the innovative and entrepreneurial instincts of the Ghanaian private sector to drive rapid growth and job creation. I am confident that we will realise this important goal.”

Mr Akufo-Addo further said the prospect the expansion of GB Foods will influence the company’s decisions “not only to source domestically its raw material base, but also to venture into the establishment of two industrial farmlands for the processing of tomato concentrate” and hoped that “many more companies would commit to such a development.”

“The government I lead is a natural cheerleader for the private sector, and it is my sincere wish that GB Foods, and, indeed, the Ghanaian private sector will continue to invest further in Ghana. Cascading investments in our economy is the most effective way to expand and strengthen it in order to create the many jobs our young people so ardently want. It will happen, and soon,” he indicated.