The Government of President Nana Addo Dankwa Akufo-Addo is determined to exploit, the country’s strategic bauxite and iron ore deposits to propel its aggressive industrial transformational agenda with strong emphasis on private sector participation.


As a result, an Integrated Bauxite and Aluminum Development Authority, is to be established by law, to spearhead the exploitation along the full value chain of Ghana's consumable bauxite resources.


Exploitation of the country’s bauxite and iron ore deposits, President Akufo-Addo said, would give a considerable push to Ghana’s industrial development.


He was delivering the key note address at the maiden edition of the Chamber Business Awards of the Ghana National Chamber of Commerce and Industry (GNCCI), in Accra, last Saturday.


The President said it was absolutely vital to transform the structure of the economy from being dependent on the production and export of raw materials to an industrialized, value-added one and that it was for this reason that government was embarking on an aggressive industrial transformation agenda with private sector participation.


Stimulus package and creation of jobs


He indicated that the agenda of industrial transformation contained several elements, namely the introduction of a Stimulus Package to revive financially distressed, but economically viable, businesses and that over eighty companies had been selected for the package.


Under government’s One District, One Factory initiative, which is aimed at creating jobs and prosperity for the Ghanaian people, he disclosed that over 190 business proposals had been selected.


“The 2018 Budget has allocated funding, as Government’s contribution either as equity or in-kind support, for the establishment of district enterprises. GCB Bank has pledged an amount of two billion Ghana cedis towards the One-District One-Factory project at the Industrial Forum, in May this year, organized by the Chamber,” he added.


The President continued, “An additional amount of $340 million has been leveraged from local financial institutions for the programme. This is the kind of leadership and collaboration that is required collectively to build Ghana Beyond Aid, and I encourage business people to take advantage of these opportunities that have been created by Government.”


He said the introduction of e-business registration system, paperless port clearance system, digital addressing system, mobile interoperability system and the national identification system, would ease the cost of doing business in the country and generate greater efficiency.


He said government was aware of the legitimate concerns about cyberspace threats and gave the assurance that government was committed to ensuring the security of Ghana’s cyberspace.”


 President Akufo-Addo announced that in addition to the establishment of the National Cyber Security Secretariat to implement Ghana’s National Cyber Security Policy and Strategy, government had also signed the African Union Treaty on Cyber Security and Personal Data Protection to help secure the country’s cyberspace and protect personal and business data.


He said the various initiatives by his government were expected to unleash the energies of business people and stimulate the entrepreneurial potential of the Ghanaian, adding that the success or otherwise of his administration would be judged largely on his government’s record of job creation.


In his remarks, Nana Dr  Appiagyei Dankawoso, President, GNCCI, said it was imperative that   government organized a strategic stakeholders forum between the Chamber, financial institutions and government to find a workable plan to reduce the country's high interest rates.


Nana Dr Dankawoso argued that if the current level of interest rates was not review downward, it would impact negatively on the operations of the businesses of members of the Chamber.




GNCCI is the representative organ of the business community in Ghana that seeks to promote and protect the commercial and industrial interests of its members (companies) in the country.




Awards were given and to celebrate the very best and finest of Ghanaian businesses that have demonstrated excellence in leadership and innovation in contributing to the socio-economic development of Ghana.


The objectives for the Awards are: to acknowledge and celebrate key businesses and personalities who have contributed meaningfully to business practice in Ghana; to inspire and promote the entrepreneurial spirit in the Ghanaian by highlighting the success stories of outstanding award winners; to unearth the depth of existing talents in the country by recognizing excellence in Corporate Reputation Management (CRM); to promote high professional standards; and to highlight the vital role of the Chamber in championing advocacy and networking.


Awards categories and winners


The Awards were in three sections, the first section of which consisted of 16 categories with emphasis on excellence and quality in service and product delivery.


Some of the categories and winners are: Agriculture, B. Balvd Limited; Arts and Crafts, Akila Limited; Automobile & Dealership, Japan Motors Limited; Banks, Bank of Africa; and Catering, Trafix Catering.


The rest are: Emerging Business of the Year, Royal Crown Packaging Limited; Fashion Design, Guest Accommodation, Accra City Hotel Limited; Logistics, Global Cargo and Commodities Limited; Manufacturing, Mining / Oil & Gas, Petrosol; Passenger Transport, S.K. Boafo Travel and Tours; and Insurance, Vanguard Assurance.


The second section of the Awards consisted of three categories, namely Young Entrepreneur of the Year, Michael Bozumbil of Petrosol; Chamber Business Man of the Year, Issa Ouedraogo of B. Balvd Limited; and Chamber Business Woman of the Year, Bella Ahu of Trafix Catering.


For the third section of the awards, a special award to the deserving Chamber Members/ Personalities, dubbed: Chamber’s Special Awards (Non-competitive), Tobinco Pharmaceuticals, Nyonkopa Cocoa Buying Company, Bedrock Ventures Limited, Yvonne Exclusive Designs, Bank of Africa, Despite Group of companies and Manufacturing and Coca Cola Bottling Company limited were amongst the recipients.


Source: ISD (Rex Mainoo Yeboah)