The Association of Ghana Industries (AGI) is lobbying the 24-Hour Economy Secretariat to extend incentives to the agriculture and agribusiness sectors. This push aims to ensure small and medium-sized enterprises (SMEs) fully benefit from the government's policy. Dr. Kofi Nsiah-Poku, AGI President, confirmed this development.
Dr. Nsiah-Poku stated that AGI is working closely with the Secretariat. The goal is to expand the policy's reach, particularly into agri-processing. This expansion is crucial for unlocking growth potential within these sectors. It also addresses a key area of Ghana's economy.
This initiative fits into Ghana's broader economic strategy to boost local production and create jobs. The 24-Hour Economy policy seeks to increase productivity and economic activity around the clock. Including agriculture and agribusiness would diversify the policy's impact. It would also support a sector employing a significant portion of the Ghanaian workforce. Ghana's agricultural sector contributes substantially to the nation's Gross Domestic Product (GDP).
Dr. Nsiah-Poku emphasized AGI's commitment to preparing its members for these opportunities. He stated, "We want to prepare our members to be investment-ready." This readiness ensures businesses can access incentives when they become available. Proper records are essential for securing such support.
The expansion of incentives would significantly impact SMEs in the agricultural value chain. These businesses often face challenges accessing finance and modern technology. The policy aims to provide a structured framework for growth. It also seeks to enhance their capacity to compete effectively.
Dela Gbeve, AGI Volta, Oti, and Eastern Region Chairman, highlighted the association's focus on smaller businesses. He said AGI supports both large and small organizations. The intent is to groom SMEs into future giants. This support helps them become globally competitive. Training workshops, like the one in Ho, are part of this strategy.
Access to credit remains a critical factor for business sustainability. Dela Gadzanku, AGI Vice-President for SMEs, stressed this point. He noted that workshops provide practical support for business growth. Credit access, not just finance, is key for long-term viability. This focus on credit aligns with the broader goal of empowering SMEs.
The AGI's training programmes equip SMEs with necessary knowledge and capacity. These programmes strengthen businesses. They also position them to capitalize on opportunities under the 24-hour economy policy. Such capacity building is vital for sustainable economic development. It also ensures that policy benefits reach a wider range of enterprises.
Expanding the 24-Hour Economy incentives to agriculture could stimulate significant investment. It could also lead to increased food security and export potential. Policymakers will monitor the impact on job creation and rural development. The success of this lobbying effort will shape the policy's future direction. It will also influence economic outcomes for many Ghanaian businesses.