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Gov’t must invest in manufacturing

The Chief Executive Officer of Kasapreko Company Limited, Martyn Mensah has admonished government to actively encourage and invest in the industry and manufacturing sector of the country and stop paying lip service to Ghanaians.
According to him, government must support businesses in this sector by providing both financial assistance and creating a conducive environment for businesses to flourish.
He explained saying, “if a privately held company is investing 22 million dollars, I would like to see a situation where government will say it will meet them half way; you don’t have to borrow but we will give you a 10 million grant, or a 10 million interest-free loan, repay it and let somebody else assess it. So I want to see government do more in a proactive manner for industry especially in manufacturing.”
Mr. Mensah opined that this will “preserve jobs, preserve the goods that pay the taxes. Think of the Forex problem we have in Ghana. It’s because we are an import country; a completely import country.
“So if you have a Ghanaian company that is able to open up export markets and it’s exporting, beyond getting them access to the ECOWAS trade liberalization protocols, it makes us to subsidize.”
He advised government to think of creative ways to develop and desist from “over simplifying problems like when we see a big company, we say ‘let’s go and collect our tax and collect more tax and increase tax. When we make it continuously interesting and rewarding and for people with aspirations; what is more satisfying than achieving your aspirations?”
Mr. Mensah also advised government to be unrelenting in the fight against counterfeiting in Ghana as it contributes to the collapse of Ghanaian businesses and the loss of revenue.
“We can go on political platforms and talk about the creation of jobs but we cannot stand idle and watch outsiders destroy jobs in Ghana. So it is important that we remain focused on the issue of counterfeiting,” he stated.

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