AFRICA NEWS AGENCY
Dr Fareed Arthur
“ A HUGE OPPORTUNITY FOR GHANA TO ACCESS MARKETS FOR MADE IN GHANA GOODS AND SERVICES” Dr Fareed Arthur, head of the AfCFTA Coordination Unit, Ghana- Photo credit RR
As Ghana is one of the first countries on the continent to adopt a local adaptation strategy for the AfCFTA, Dr. Fareed Arthur, Head of the AfCFTA Coordination Unit, Trade and Industry Ministry of Ghana, outlines the main objectives.
What opportunities does the AfCFTA offer to Ghana? Is it about encouraging more ‘made in Ghana’ manufacturing? The AfCFTA seeks to create a common African Market with 1.3 billion people. This provides a huge opportunity for Ghana to access markets for made in Ghana goods and services. It also provides an opportunity for Ghanaian industries to take advantage of the economies of scale and to expand production. Participation in the AfCFTA will lead to increased employment for the youth and provides huge incentives for industrialization and economic diversification. In most African countries women play very significant roles in the economic development and the opportunities provided by access to a unified continental market will yield significant benefits for Ghanaian women in business.
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The AfCFTA entered into force last January. Ghana is one of the countries that have announced that they are putting in place a ‘blueprint’ to support local businesses in the new AfCFTA context. Why? The AfCFTA falls in line with government’s own blueprint for development which is named Ghana Beyond Aid that it has been pursuing since 2016. These includes programmes like the One District One Factory (1D1F) Initiative which is intended to support agro processing, industrialization and diversification of the economy. Other initiatives are the establishment of Industrial Parks across the country, or The Strategic Anchor Industries Programme which seeks to identify and promote key industries with strategic importance for driving industrial transformation. Creating the enabling environment for local business to harness
“The AfCFTA provides opportunities for cross border and intra continental synergies in several areas. In the energy sector, pharmaceuticals, finance and in the free movement of skills amongst member states”
