Ghanaian businesses are ready for AfCFTA, says GNCCI

Businesses in the country have expressed their readiness to take advantage of the African Continental Free Trade Agreement (AfCFTA)

The president of the Ghana National Chamber of Commerce and Industry (GNCCI), Nana Appiagyei Dankawoso I, says businesses are ready to partner with counterparts both local and international to establish multinational firms that can take advantage of the African Continental Free Trade Agreement (AfCFTA).

With financial support from Ghana Export-Import Bank (GEXIM), the government’s stimulus package, and a conducive environment, the businesses explained that they are prepared to partner other companies to develop world-class products and services for the huge market presented under the AfCFTA.

Nana Appiagyei Dankawoso I, whose office has been engaging businesses on their readiness for the AfCFTA, said the business community has shown its readiness and determination to take advantage of the initiative.

“The government, on the other hand, has already introduced policies and provided financial support to help local businesses to expand and take advantage of the initiative,” he said.

The chamber president said this when members of the chamber visited the head office of Zonda Tec Ghana in Tema.

The visit was to enable members of the GNCCI to familiarise themselves with the operations of the heavy-duty equipment company and identify their challenges.

Staying competitive

According to him, the chamber periodically engages the business community in its efforts to promote and protect business operations.

“In view of this, our visit here today is to familiarise ourselves with activities of Zonda Tec Ghana, be abreast of challenges in the automobile industry amid the COVID-19 pandemic and discuss mitigating strategies,” he said.

He noted that the chamber also encouraged the business community that in its quest to stay competitive, there was the need to adopt modern operations and management strategies such as strengthening the occupational, safety, health and environment mechanism and system to proactively ensure safe and healthy working environments which will help safeguard lives.

On 17 August, President Nana Addo Dankwa Akufo-Addo officially inaugurated and handed over to the African Union Commission the office complex in Accra that now serves as the permanent AfCFTA secretariat.

The secretariat will provide office space for the secretary general and staff who will provide leadership and technical support for the AfCFTA, as well as overall management of the day-to-day activities of the secretariat. The core staff will implement the agreement, engage in strategic collaboration for stakeholders’ engagement and mobilise resources for the implementation of the AfCFTA.

To date, 54 countries have signed and 30 have ratified the AfCFTA agreement. Eritrea is the only AU member state yet to sign the agreement.

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