GIPA CEO calls for shift from raw material exports to value addition
Mr Madjie made the call at the 15th Ghana Economic Forum, hosted by the Business and Financial Times (B&FT) in Accra, under the theme “From Stabilisation to Scale: Mobilising Capital, Technology and Policy for Ghana’s Next Industrial Wave.”
Simon Madjie, the CEO of Ghana Investment Promotion Authority (GIPA), has urged a shift away from exporting raw materials to focus on adding value to Ghana's natural resources. Madjie emphasized that leveraging the country's mineral and cocoa assets is crucial for developing local industries, generating employment, and safeguarding its natural resources.
During the 15th Ghana Economic Forum in Accra, Madjie stressed the need to achieve this transition by 2030 through increased investment and enhanced domestic processing capabilities. He argued that natural resources should be viewed as a foundation for industrial development, rather than merely as commodities for export. Madjie also stressed the importance of attracting foreign private capital, with the expectation that investors would contribute taxes, create jobs, transfer technology, and operate responsibly in return for market access and resource utilization.
He called on foreign investors to integrate with Ghanaian businesses, fostering local capacity and competitiveness. Furthermore, Madjie identified the need for legal and regulatory reforms to enhance investor protection and alleviate business constraints. However, he underscored that these reforms should be supported by a conducive business environment that encourages collaboration between local and foreign investors.
Madjie highlighted partnerships, technology transfer, and local involvement as vital elements for bolstering Ghanaian enterprises and ensuring sustained industrial expansion.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
