The flagbearer of the largest opposition party, the New Patriotic Party (NPP) has suggested that government must initiate reforms in the financial sector in order to support industrial and agricultural development of Ghana.
[contextly_sidebar id=”p0kJIT9dUzaovVl0Hg8yDZmehivSMo4M”]According to Nana Akufo Addo, improving the agricultural and industrial sectors is vital to ensure Ghana ends it’s reliance on the exportation of raw materials and the importation of finished products.
Addressing the Ghanaian community in Manchester in the UK, Nana Addo stated that “when our era is over, Ghana the raw material producing country would have been replaced by Ghana the industrial nation. To do this we have to have a policy that is based on three basic elements; developing our industrial capability, enhancing our agricultural productivity and reforming and restructuring the financial sector to support the agricultural and industrial development of our nation.”
According to him, this strategy had been successfully implemented by Asian nations such as Japan and Malaysia and those countries have thrived as a result.
“This 3-pronged attack is the way to transforming our nation. It is not new and has been successfully tried in other parts of the world especially in the new nations of Asia; the Asian tigers Korea Taiwan and Japan,” he added.
Ghana must emulate Manchester’s success story
Nana Addo, who was addressing party members in the English city of Manchester also spoke of the city’s relevance in the history of Britain’s economic revolution.
He stated that Ghana should seek to emulate the success story of Manchester in its own quest to attain industrial transformation.
“Manchester has a special significance in British economic history. If any city was synonymous with the 19th Century industrial history is it Manchester.
“We need to replicate Manchester’s significance in our country because the industrial transformation of our nation is the overall strategic objective of our era.”
By; Edwin Kwakofi/citifmonline.com