$7.5m voted to project Ghanaian industries

Accra (Greater Accra), 26^th January 2000

Mr. Dan Abodakpi, Minister of Trade-designate on Wednesday announced a 7.5 million-dollar project to accelerate the implementation of the Integrated Industrial Programme to promote Ghanaian industries this year.

He said the United Nations Industrial Development Organisation (UNIDO) has already pledged an initial contribution of 1.1 million dollars with the government providing the counterpart funds.

Launching the Ghana Industry and Technology Exhibition (Indutech) 2001 in Accra, Mr. Abodakpi said a meeting of the donor community has been scheduled for next month to raise additional funding for the project.

The exhibition, to be organised by the Association of Ghana Industries (AGI), will provide the platform to showcase locally manufactured products and enhance international trade.

Mr. Abodakpi explained that the programme has been designed to address constraints such as weak management, obsolete machinery and the weak technological base of Ghanaian industries.

He said to achieve the targeted non-traditional export earnings of 12 billion dollars by 2020, industry will have to play a critical role, stressing that it is the strategy and determination of the government that industry will lead Ghana's export expansion and diversification drive.

Prince Kofi Kludjeson, President of the AGI, urged Ghanaian businessmen and women to form strategic partnerships and joint ventures and get listed on the Ghana Stock Exchange.

"These are the softest means of raising capital for retooling or for expansion," Mr Kludjeson said.

He advised them to divorce ownership of business from management and establish sound management systems to ensure proper management succession.

GRi