President Akufo-Addo has entreated the private business sector to continue investing in the Ghanaian economy since that is the surest way to create more jobs for the citizenry.[ads2]
According to the President, his government and the NPP as a political party is a natural supporter of the private business sector, hence the reason why he is bent on creating an enabling environment for them to expand their investments.
Commissioning a $5 million state-of-the-art tomato canning line belonging to GB Foods in Tema on Tuesday, March 14, 2023, President Akufo-Addo said, “the government I lead is a natural cheerleader for the private sector, and it is my sincere wish that GB Foods, and, indeed, the Ghanaian private sector will continue to invest further in Ghana. Cascading investments in our economy is the most effective way to expand and strengthen it in order to create the many jobs our young people so ardently want. It will happen, and soon.”[ads3]
Whilst acknowledging the limited ability of government to create jobs on its own, President Akufo-Addo noted, “it is for this reason that, when we assumed office in 2017, my government put in place measures to reduce the cost of doing business and improve the business environment.”
He explained that, Ghana had been “modestly successful in making the Ghanaian economy not only one of the most business-friendly economies in Africa, but also one of the fastest growing economies in the world between 2017 and 2020, averaging 7% GDP annual rates of growth, up from the 3.4% rate we inherited in 2016, the lowest in two (2) decades.”
He continued that, “in spite of upheavals on the global economic terrain, our goal remains constant – and that is to unleash the innovative and entrepreneurial instincts of the Ghanaian private sector to drive rapid growth and job creation. I am confident that we will realise this important goal.”[ads4]
Meanwhile, the state-of-the-art GB Foods’ tomato canning line is aimed at reducing the number of raw materials imported in the manufacturing of the company’s products, thereby offering more employment opportunities to Ghanaians.
Also speaking at the commissioning, the President of Agrolimen, the mother company of GB Foods, Artur Carrula said, “GBFoods is committed to investing in Africa and Ghana for that matter, with the support of the Ministry of Food and Agriculture and Ministry of Trade and Industry.
He added, “we are working to identify locations for two contiguous farmlands of 7,000 acres each on which we will construct two industrial farms each with an integrated factory. To process, tomatoes concentrate that we will use in Ghana and also export to other African countries taking advantage of the African Continental Free Trade Agreement. We estimate that on completion of these two projects, GBFoods would have invested over $70 million of investments and create over 5,000 jobs, earn FX for Ghana”.
On his part, David Kofi Afflu, General Manager of GBFoods Ghana who said: “Apart from the tomatoes processing line, this state-of-the-art facility also has a curry processing line. We believe in Ghana and remain committed to driving investment to grow our footprint in the county. Today’s commissioning is a demonstration of our deep level of commitment to this cause, and we shall not relent on this effort.”
GB Foods is a leading food manufacturing company and producer of Ghana’s favourite Gino and Pomo range of products.[ads5]
