Ghanaian industries have capacity and capability to produce locally – B5 Plus CEO

Mukesh V. Thakwani, CEO of B5 Plus Group, has urged the Ghanaian government to implement a comprehensive local content law that prioritizes the consumption of domestically manufactured goods. Thakwani believes Ghanaian industries possess the necessary capacity and capability to produce a wide range of products required by the nation, but full potential can only be achieved with targeted measures to establish a robust market for locally-made items.

Speaking on GTV Breakfast Show, Thakwani emphasized that the country should move beyond merely discussing industrialization and actively foster an environment where Ghanaian manufacturers can compete, expand production, and supply the domestic market. He cited B5 Plus Group's adoption of a 24-hour economy as evidence that local manufacturers can handle increased demand when proper conditions are put in place.

Thakwani argued that while encouraging factories to produce is crucial, it's equally important to ensure locally-made products have access to the Ghanaian market. He proposed that a deliberate local content policy could address this issue by incorporating greater consideration for locally-produced goods in government procurement, private-sector purchasing, and other sectors where imported products typically dominate.

Thakwani affirmed that Ghana has companies with the expertise, machinery, human resources, and technical capacity needed to manufacture products that meet both domestic and international standards. The challenge lies in creating the right conditions for these industries to grow and become more competitive. He highlighted that a strong local manufacturing sector would yield benefits beyond the individual companies involved, such as job creation, strengthened local supply chains, retention of foreign exchange, and opportunities for small and medium-sized businesses that provide raw materials and services to larger manufacturers.

Thakwani called for stronger collaboration between government and industry to identify products Ghanaian companies are already capable of producing and develop policies that would encourage their use. He urged government institutions, state-owned enterprises, and other major buyers to prioritize locally-manufactured products when available and meeting required standards, providing manufacturers with a predictable market and encouraging investment in additional machinery, technology, and human resources.