Business News of Tuesday, 18 March 2025
Source: www.ghanawebbers.com
The Ghanaian government is set to amend the Public Procurement Act to enhance support for locally produced goods. This initiative aims to boost the economy by prioritizing "Made in Ghana" products in public procurement processes. The proposed changes are part of a broader strategy to stimulate domestic production and reduce reliance on imports, ultimately fostering sustainable growth and job creation within the country.
Officials emphasize that this shift will not only bolster local industries but also ensure that government contracts significantly benefit Ghanaian businesses. By encouraging procurement from local suppliers, the government hopes to strengthen entrepreneurship and innovation among homegrown enterprises.
Additionally, the move aligns with national efforts to promote self-sufficiency and economic independence. The Minister of Trade and Industry highlighted that these amendments will create a more favorable environment for local manufacturers, thereby enhancing competition and quality in various sectors.
As Ghana navigates pressing economic challenges, this policy adjustment underscores a commitment to empowering local businesses while ensuring value for public spending through a focus on domestically produced goods.