On the occasion of the 2017 edition of the Ghana Club 100 Awards event, I congratulate all companies who availed themselves to be ranked. For your hard work and commitment to the cause of building Ghana over the years, I say ayekoo to all of you.
The theme for this year’s edition, “Technology, Innovation and Entrepreneurship: Opportunities for Growth and Job Creation”, is at the heart of Government’s vision. The role of technology and innovation in transforming any economy and nation is critical. If we are to make any meaningful change in the lives of the people, our efforts must be equally pronounced in this sector.
Since assuming office in 2017, our first order of business has been the implementation of economic policies to promote a business-friendly environment. Some of indicators for this improvement are; a growth rate of 8.5% in 2017, the attainment of single digit inflation, a relatively stable currency despite the challenges of a strong US dollar modest reduction of lending rates.
We believe that growing the economy the right way, with a level playing field, is the best option for our country’s future, and we are achieving that gradually.
The implementation of technology innovative policies such as the digital addressing system, the paperless port system, e-business registration system, and the mobile interoperability system, which are helping to formalise the Ghanaian economy, lowering the cost of doing business and cutting down excessive bureaucracy, are examples of some of the steps being taken to revive the Ghanaian economy. In addition, a number of taxes, which were strangling businesses and business owners, have either been abolished or reduced. All these are being done because we believe in the primacy of the private sector, and working to enhance the prospects of a win-win environment for both private sector and country; an environment where companies cannot just survive, but actually thrive. These interventions, would shift the focus of our economy from taxation to production, and, hopefully, would make Ghanaian businesses very competitive in West Africa, Africa and beyond.
It is the competitiveness of our enterprises, in the agricultural, manufacturing technology and innovation sectors, that will determine our capacity to create jobs for our youth and women, and wealth in our society. The competitiveness of Ghana’s private sector is key to addressing issues of inclusion, economic development and growth of Ghana. That is the only way we can build a Ghana Beyond Aid, thereby, freeing our people from a mindset of dependence, aid, charity and handouts, and building a self-reliant economy which will mobilise the immense resources of Ghana, material and human, with women and youth in the forefront, to resolve Ghana’s challenges.
Whilst we empower the private sector to create jobs and wealth, Government, recognising the benefits of the digital revolution, has instituted measures to keep the youth in touch with global trends, and also equip them with the skills, which, together with their sense of enterprises and innovation, will be necessary in Ghana’s economic transformation. That is the focus of Government.
By building a strong economy this year, and subsequently, our businesses will be well positioned to succeed.
Again, Congratulations to all of you who made it to the top 100. You have a tougher task at maintaining best practices and values for a great business! To the GIPC, congratulations for making Ghana more visible and for a good job done!