• Latest
  • Trending
  • All
INDUSTRIALIZATION AND AfCFTA; PANACEA TO GHANA’S ECONOMIC WOES

INDUSTRIALIZATION AND AfCFTA; PANACEA TO GHANA’S ECONOMIC WOES

June 15, 2022
Alan Donates 100k To Victims of Kejetia Fire Outbreak

Alan Donates 100k To Victims of Kejetia Fire Outbreak

March 24, 2023
NPP Mourn  Dr. Akoto Osei; Directs Party Flags to Fly at Half-Mast

NPP Mourn Dr. Akoto Osei; Directs Party Flags to Fly at Half-Mast

March 21, 2023
NPP Decides : Alan Sets Upper West Alive, Gets Blessed By Wa Naa Fuseini Pelpuo IV

NPP Decides : Alan Sets Upper West Alive, Gets Blessed By Wa Naa Fuseini Pelpuo IV

March 20, 2023
Ga’s will feature prominently in my gov’t – Alan Kyerematen to Ga Mantse

Ga Mantse prays for Alan’s victory in the upcoming NPP Flagbeararship race

March 14, 2023
Former KMA Presiding Member Applauds Alan Kyerematen’s Decision to Downsize Government.

Former KMA Presiding Member Applauds Alan Kyerematen’s Decision to Downsize Government.

March 14, 2023
Resign as veep and face Alan so we can see who is who – Owusu-Amankwah to Bawumiah

Alan’s credibility alone makes him a perfect candidate for President – Former NPP MP

March 14, 2023
Ga’s will feature prominently in my gov’t – Alan Kyerematen to Ga Mantse

Ga’s will feature prominently in my gov’t – Alan Kyerematen to Ga Mantse

March 14, 2023
Use Ghana As A Springboard for AfCTA’s $3.3 Trillion Market-Kyerematen Tells Turkish Community

Solomon Owusu writes: Alan is an Achiever, an Asset for Today and Tomorrow

March 14, 2023
The Alan News (Publication 101)

The Alan News (Publication 101)

March 13, 2023
The Alan News Paper (100th Publication)

The Alan News Paper (100th Publication)

March 7, 2023
ELECTION 2024: THE RIVETING TINUBU-ALAN CONNECTION AND PREDICTION

ELECTION 2024: THE RIVETING TINUBU-ALAN CONNECTION AND PREDICTION

March 2, 2023
Alan Kyerematen supports funeral of Yagbonwura

Alan Kyerematen supports funeral of Yagbonwura

February 27, 2023
  • Alan’s Profile
  • Endorsements
  • Documents
  • Gallery
  • Contact
Saturday, March 25, 2023
  • Login
THE ALAN NEWS
  • Home
  • General News
    • NPP News
    • Alan TV
    • Pro Alan Groups
  • 1D1F News
  • Projects
  • Wear Ghana
No Result
View All Result
THE ALAN NEWS
No Result
View All Result
Home General News

INDUSTRIALIZATION AND AfCFTA; PANACEA TO GHANA’S ECONOMIC WOES

by THE ALAN NEWS
June 15, 2022
in General News
0
INDUSTRIALIZATION AND AfCFTA; PANACEA TO GHANA’S ECONOMIC WOES
503
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

I have been following expositions by Ghana’s Minister for Trade and Industries, Alan John Kwadwo Kyerematen about his vision to industrialize Ghana through the NPP’s One District One Factory (1D1F) policy as well as his role in drawing up and seeing to the implementation of the African Continental Free Trade Area (AfCFTA) project.

I always tell myself that if this was back in 2008/09 when I was doing my Masters in International Affairs, the knowledge I have learnt from Alan Kyeremateng would have given me an ‘A’ without learning many theories in International Trade & Development as well as International Economics. I could have passed the two courses without hustle.

The AfCFTA is the largest trading block since the World Trade Organization (WTO) was formed. By World Bank estimates, the AfCFTA is expected to increase intra-African trade from its current 13% about 51% in the next 10 years, serving about 1.2 billion Africans, and injecting billions of dollars annually into Africa’s Gross Domestic Product (GDP).

Currently, China remains Africa’s biggest trading partner. In 2019, trade between Africa and China amounted to US$192 billion whilst China’s Foreign Direct Investment (FDI) in Africa was US$2.7 billion. The disparity in trade volumes between Africa and China is heavily tilted in favour of China.

Whilst China imports raw materials from Africa, it exports finished goods to the continent resulting in a huge trade deficit in favour of China. China is only one of Africa’s trading partners. The US, Europe, and India are among others.

The only solution to the problem of Africa sending raw materials outside and importing finished products is for it to industrialize.

There is no single economic powerhouse in the world which does not use exports of finished goods as the bedrock of its economy. US, Japan, Germany as well as the Asian Tigers; Taiwan, Korea and others are all export-led economies and none of them exports raw materials.

There is certainty that Africa is the continent of the future. Investors worldwide are looking for the next destination for their investments and Africa offers them a huge opportunity for untapped human and material resources.

Luckily for Ghana, the AfCFTA Secretariat through the ingenuity of Alan Kyerematen is in Accra. With its democratic values and peaceful nature, Ghana could attract investors.

What is needed is the leadership which can assure the investor communities both local and foreign of value for their money. This is because direct investment is not a charity job that we must beg for. It is an assurance given to those with the wherewithal to invest that their investments will not go down the drain.

The World Bank has reported that Ghana’s economy can expand by 0.5% for the next 10 years through the AfCFTA, hence, Ghana needs to implement the rest of the AfCFTA protocols.

As eyes are fixed on Ghana as host country of the AfCFTA Secretariat, Investors are highly interested in how Ghana conducts its economic drive as the gateway to Africa. This calls for an astute leadership in economic management.

With Alan Kyerematen implementing the 1D1F and being the architect of the AfCFTA, investors see the opportunity to invest in Ghana to be able to export to all the African states.

The surest bet to Ghana’s industrialization, the panacea to Ghana’s economic upturn is to make Alan Kyeremateng lead Ghana NOW.

Nana Kwame Nkrumah
(PhD Candidate)
Legon Centre for International Affairs & Diplomacy (LECIAD)
University of Ghana, Legon.

Tags: AfCFTA
Share201Tweet126Share50
THE ALAN NEWS

THE ALAN NEWS

  • Trending
  • Comments
  • Latest
Alan Kyerematen is the new Heartbeat of Ghana

Alan Kyerematen is the new Heartbeat of Ghana

January 9, 2023
NPP Postpones Top Level Meetings

NPP Postpones Top Level Meetings

January 28, 2023
Hopeson Adorye Sacked from his Job for Supporting Alan Kyerematen

Hopeson Adorye Sacked from his Job for Supporting Alan Kyerematen

November 25, 2022
Gallery

Addressing The Misconceptions About ‘Alan Cash’

24

Alan John Kyerematen

0
Trade Ministry calls for public recommendations on automation of state institutions

Alan’s Agenda Of Job Creation For All – 1D1F THE GAME CHANGER

0
Alan Donates 100k To Victims of Kejetia Fire Outbreak

Alan Donates 100k To Victims of Kejetia Fire Outbreak

March 24, 2023
NPP Mourn  Dr. Akoto Osei; Directs Party Flags to Fly at Half-Mast

NPP Mourn Dr. Akoto Osei; Directs Party Flags to Fly at Half-Mast

March 21, 2023
NPP Decides : Alan Sets Upper West Alive, Gets Blessed By Wa Naa Fuseini Pelpuo IV

NPP Decides : Alan Sets Upper West Alive, Gets Blessed By Wa Naa Fuseini Pelpuo IV

March 20, 2023
THE ALAN NEWS

Copyright © 2022 The Alan News

Navigate Site

  • Alan’s Profile
  • Endorsements
  • Documents
  • Gallery
  • Contact

Follow Us

No Result
View All Result
  • Home
  • General News
    • NPP News
    • Alan TV
    • Pro Alan Groups
  • 1D1F News
  • Projects
  • Wear Ghana

Copyright © 2022 The Alan News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In