Agriculture, manufacturing must drive 24-hour economy - ADC urges govt
The Africa Development Council (ADC) has urged the government to hinge the 24-hour economy on agriculture and manufacturing.
That approach, it stressed, would boost productivity, create jobs and strengthen Ghana's economy.
This was contained in a communiqué issued after an Executive Council Meeting in Accra yesterday.
"Ghana’s 24-hour economy implementation must be hinged on agriculture, manufacturing, and knowledge trades, with the state in the driver's seat," the communiqué stated.
The ADC is a non-profit organisation that seeks to promote sustainable industrial development in Africa.
The organisation works with various stakeholders including African governments, organisations, and international partners to achieve its aims.
It is a trans-Africa Kingdom that aims to restore the continent to its former glory of self-sufficiency in terms of socio-economic & scientific civilisation on the globe.
On taxation, the ADC recommended a shift from excessive taxation to a production-based economy and argued that heavy levies burdened the underprivileged and hindered economic growth.
It, therefore, urged the government to channel borrowed funds into value-added industries such as gold, oil, and cocoa refining to strengthen the local currency.
The council further suggested reducing governance expenditures by reducing the number of Members of Parliament.
Intra-African Trade
The ADC further urged African nations to focus on local production to enhance their competitiveness.
The communiqué called for investment in science, technology, and infrastructure to boost trans-border activities.
It emphasised that the effectiveness of the African Continental Free Trade Area (AfCFTA) depended on a domesticated, nationalised industrial economy, with at least 51 per cent state ownership.
"AfCFTA can only be effective among African countries if only it is tailored towards the domesticated nationalised industrial economy," the communiqué stated.
It insisted that intra-African trade could only thrive if productive capacity improved.
The council commended the Member of Parliament for Madina, Francis Sosu, for his parliamentary statement on maximising the benefits of AfCFTA.
Criticism
In the communique, the ADC criticised the Minority in Parliament, accusing it of undermining the country's democratic stability and described the opposition’s conduct as rebellious, an act that would threaten Ghana’s international reputation.
