31.2 C
Accra
Friday, February 7, 2025
HomeBusinessAgyinsam: Local Producers Guarantee Our Survival, Let’s Not Forsake Them Post Coronavirus

Agyinsam: Local Producers Guarantee Our Survival, Let’s Not Forsake Them Post Coronavirus

Date:

spot_img

Mr. Lawrence Agyinsam, the Chief Executive Officer (CEO) of Ghana Exim Bank, has said all efforts must be put into ensuring that consumption of locally manufactured goods becomes the norm after the Coronavirus pandemic.

According to Mr. Agyinsam, local producers have guaranteed the survival of Ghanaians as the world has partially closed its borders – with some halting the export of essential goods to rightly protect their own.

Mr. Agyinsam is pushing for a lot to be done on changing the taste-preference of Ghanaians to switch from foreign produced goods to local ones.

According to him, such a move would not only ensure the fortitude of the bank but liberate Ghana from foreign dependency.

“This is the time we have to make the difference. We have to learn from COVID-19 and ensure that we have changed our preferences and consume locally produced goods. This bank has invested huge monies to build new factories, support struggling factories and resurrect dead ones. All these monies will be recouped early to ensure survival of the bank if we all consume and use made in Ghana goods.

“During this COVID-19 era, our garment sector has risen to the occasion by producing local PPE; all of us, both home and abroad, are proud to be Ghanaians because the west is struggling with PPE and here we are producing them in the thousands.

“We have abundant hand-sanitisers, thanks to local producers. India stopped the export of certain items including drugs, and here we are rising to the occasion. Our pharmaceutical manufacturers are delivering because they got support from Exim Bank and others to expand and produce some essential drugs locally,” Mr. Agyinsam said.

Mr. Agyinsam , disclosing this during a meeting between the Private Newspaper Publishers Association of Ghana (PRINPAG) and top management of the Ghana Exim Bank , added that the bank’s vision – to become a strong financial institution that will be a key engine in the development of Ghana’s export trade, facilitate cross-border trade and make Ghana a pillar in regional and continental trade – will be achieved in the shortest possible time if the campaigns to consume locally produced goods continue unabated.

He further revealed that GH¢57.8million was invested in five garment companies of the country way before the COVID-19 pandemic hit Ghana. The investment was to help revive the textiles and garment sector and make it compete globally. This investment is yielding positive results as it has contributed to ensuring that these companies have the capacity to support the nation’s COVID-19 fight with PPE.

According to Mr. Agyinsam, the sector has been noted as one with great potential to help reduce Ghana’s unemployment rate and derive huge foreign exchange to support strengthening of the local currency.

The pharmaceutical sector has had some US$60million pumped into its operations to ensure the nation becomes self-sufficient in the production of essential drugs, and also to target the export market.

The agriculture sector has also seen a substantial investment from the bank. Players in poultry, shea butter, cassava, coconut, maize and sweet potato are among the many sub-sectors that have benefitted with funding from the bank.

Send your news stories to editor@max.com.gh and via WhatsApp on +233 506-367-196
Join our WhatsApp channel for the latest news and updates.

Max TV
Max TVhttps://max.com.gh
Ghana’s Leading Digital Television And Terrestrial Box In Sports, Entertainment And More.
- Sponsored -

Stay Connected

562,687FansLike
2,072FollowersFollow
433,500FollowersFollow
50,215FollowersFollow
88,733SubscribersSubscribe

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Stories

Ashanti Regional Council Clarifies Recall of Specific DRIP Machines, Denies Full Recall

In a recent press release, the Ashanti Regional Co-ordinating...

FIFA Suspends Congolese Football Association (FECOFOOT) Indefinitely

FIFA has suspended the Congolese Football Association (FECOFOOT) from...

Black Queens to face Morocco in friendly

The Ghana Football Association has announced a friendly match...

Lieutenant General Arnold Quainoo, ‘Buffalo Soldier,’ Goes Home Today

Lieutenant General Arnold Quainoo, a distinguished Ghanaian soldier known...

CARABAO CUP: Liverpool set up EPIC final clash with Newcastle

Holders Liverpool booked their place in the final of...

AGRIC CORNER: KNUST Researchers Develop Batteries from taro/brobe peels

A team of researchers from the Kwame Nkrumah University...

MGWPL on Max TV: Epiphany target top spot

Epiphany Warriors are determined to maintain their good form...

Jimmy Butler bags sensational move to Warriors

Jimmy Butler has been traded by the Miami Heat...

Philippine vice-president Sara Duterte impeached

Philippine vice-president Sara Duterte has been impeached on a...

POOLEY’S DEATH: Khadija Ntiwah (Akosua Black Chinese) Surrenders to Police

In a shocking turn of events, Khadija Ntiwah, widely...