A nationwide consultation with Ghanaian private sector to access their readiness for AfCFTA implementation has begun in Accra.
The consultation is focusing on six sectors of Association of Ghana Industries (AGI) members who are in agri-business, food and beverages, pharmaceuticals and herbal, garment, textile and leather, plastics and hardware as well as hospitality and tourism industry sectors.
“The stakeholder consultation with the private sector is very important as it would help in assessing their knowledge and understanding of AfCFTA, rules of origin, capacity to produce and export to other African countries as well as identifying the challenges that would impede their ability to take full advantage of the AfCFTA,” said Appiah Kusi Adomako, the Country Director for CUTS.
President Akufo-Addo when he signed for Ghana to join AfCFTA
Mr Adomako added that the ability of Ghana to take full advantage of the AfCFTA agreement depends largely on the readiness of Ghanaian industry.
Whilst a company can be ready at the firm level, there is also the need for our macroeconomic variables to be ready. For example firm in Ghana which borrows on the average of 28% per annum cannot compete with firms in South Africa, Rwanda, Mauritius that borrow on an average of 7 per cent per annum.
The consultation forms part of a study assessing the readiness of the Ghanaian private sector for AfCFTA implementation. The study is being undertaken by a research and advocacy policy think called CUTS with support from the BUSAC Fund.
BUSAC Fund is a donor pooled fund to support private sector advocacy and it is supported by the DANIDA and the USAID.
It is expected that the study will produce a diagnostic report which will help to develop practical steps in addressing the gaps and challenges identified by the private sector with regards to the African Continental Free Trade Agreement (AfCFTA).
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Expansion Drive: Takoradi Technical University increases faculties
3 hours -
SHS heads demand payment of outstanding funds before reopening of schools
4 hours -
We thank God for the 2024 general elections – Akufo-Addo
4 hours -
Coconut Grove Beach Resort marks 30 years of excellence with memorable 9 lessons & carols service
4 hours -
WAFU B U-17 Girls’ Cup: Black Maidens beat Nigeria on penalties to win inaugral tournament
5 hours -
Real Madrid beat Sevilla to keep pressure on leaders Atletico
6 hours -
Liverpool put six past Spurs to go four points clear
6 hours -
Manchester United lose 3-0 at home to Bournemouth yet again
6 hours -
CHAN 2024Q: ‘It’s still an open game’ – Didi on Ghana’s draw with Nigeria
6 hours -
CHAN 2024Q: Ghana’s Black Galaxies held by Nigeria in first-leg tie
7 hours -
Dr Nduom hopeful defunct GN bank will be restored under Mahama administration
8 hours -
Bridget Bonnie celebrates NDC Victory, champions hope for women and youth
8 hours -
Shamima Muslim urges youth to lead Ghana’s renewal at 18Plus4NDC anniversary
9 hours -
Akufo-Addo condemns post-election violence, blames NDC
9 hours -
DAMC, Free Food Company, to distribute 10,000 packs of food to street kids
11 hours