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Business News of Monday, 2 June 2025

    

Source: www.ghanawebbers.com

Gov’t deepens chieftaincy role in local governance and development

Mr. Ibrahim discussed the importance of integrating the chieftaincy sector into the Ministry’s strategic framework. He believes this will enhance local participation in governance and support sustainable development initiatives.

“Chiefs are custodians of land, tradition, and social stability,” he said. Involving them in decision-making ensures projects have legitimacy and cultural alignment. “This is how we build transformation – by integrating tradition,” he added.

The Made-in-Ghana Business Summit and Awards occurs annually. It is organized by the Entrepreneurs Foundation of Ghana to promote locally made goods. The 2025 edition gathered business executives from manufacturing, policymakers, and entrepreneurs.

Mr. Ibrahim emphasized that the ministry is closest to the people. For genuine regional development, Metropolitan, Municipal, and District Assemblies (MMDAs) must be empowered to identify local economic opportunities.

He announced a significant increase in funding for the District Assemblies Common Fund (DACF). This increase shows a commitment to decentralization and empowering local governments with necessary resources.

Enhanced funding will help MMDAs start projects in feeder road construction, health infrastructure, education expansion, and support for youth-led enterprises. “True national transformation begins at the local level,” he stressed.

In his welcome address, Kwesi Amoafo-Yeboah highlighted the proposed 24-hour economy policy's importance. He stated it fosters a business culture that is agile and globally competitive.

He envisioned a Ghana where ports operate continuously and factories run shifts around-the-clock. This model could boost industrial output while reducing imports.

Sam Ato Gaisie called for more focus on industrialization and agribusiness as key economic drivers. He suggested establishing one major industry per region aligned with local resources to create jobs for graduates.

“This would help address job scarcity worsened by technological advances,” he noted. Dr. Macdonald Vasnani advocated for inclusive growth strategies that support job creation and poverty reduction.

He emphasized regional value chains tailored to local needs should promote industrialization. “Indigenous businesses should dominate sectors like pharmaceuticals and logistics,” he stated.

Kenneth Ashigbey highlighted agro-industrialisation's potential through technology. He noted agriculture is crucial but its full potential remains untapped.

Agri-tech solutions like drones and data analytics can unlock this potential, he explained.

The event recognized outstanding performers in local manufacturing and business sectors with awards:

- Latex Foam – Ghana Foam and Mattress Business Pride Award 2025
- M&G Pharmaceuticals – Ghana Pharmaceutical Business Pride Award 2025
- B5 Plus Group – Ghana Iron and Steel Business Pride Award 2025
- Jay Kay Industries – Ghana Printing and Paper Packaging Business Pride Award 2025
- De-United Food Industries – Ghana Food Processing Business Pride Award 2025