The government has been urged to support local manufacturers because that was the only way to ensure sustainable growth of the economy and the stability of the Cedi.
Mr John Appiah Biney, the Chief Executive Officer of J. A Biney Company Limited, who made the call, said, “If we want a sound economy, the government must support local manufacturers for the country to be more productive, do more export and to stabilize our currency to achieve the Ghana Beyond Aid agenda,” he noted.
Mr Biney was speaking during a visit of graduate students of the Institute of Development and Technology Management (IDTM) in Cape Coast to his company, which produces detergents.
The students are studying MA, MPhil and PhD programmes in Development and Technology Management and Entrepreneurship.
They also visited the Ekumfi Fruits and Juices Limited.
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The businessman said successive governments had failed to pay attention to the manufacturing sector, which could turn the fortunes of the country around.
He expressed concern that the financial institutions in the country were not interested in supporting manufacturers, even though the manufacturing sector gave the best profits in the long term.
Mr Biney said the banks preferred supporting the “buying and selling” sector at the expense of manufacturing.
“A lot of people will not want to go into manufacturing because that area is very difficult. The banks will not support you and the government will not support you too,” he stressed.
“Manufacturing in Ghana is not easy but it is the best,” Mr Biney observed and encouraged more Ghanaians to go into manufacturing to save the country from unnecessary importation of goods that could be produced here.
Subsequently, he asked prospective entrepreneurs to be bold, take the necessary risks and plan well to succeed in their field of endeavour.
Mr Amah underscored the importance of an industrial tour and said it ensured that students gained practical insights into industry operations in their respective areas of specialization.
He intimated that apart from academic development, IDTM focused on the social and overall development of its students.
“These activities supplement and enrich classroom learning and encourage new interests among students. It also makes them more aware of community resources and helps the students relate their educational experience to the outside world,” he added.
Some of the graduate students shared their excitement about the tour saying, it had exposed them to realities the business community faced, particularly in Ghana and Africa as a whole.
IDTM is a private tertiary institution based in Cape Coast and hopes to become a centre of excellence that could influence the provision of post-graduate and professional training in Development and Technology Management, equipping men and women to engage in authentic development practice.
