Boosting Domestic Production is Key to Economic Stability Says Jospong Leader
Jospong Group Chair's Plea for Homegrown Solutions to Ghana's Economy
Get ready to roll up your sleeves, folks! The Executive Boss of the Jospong Group of Companies (JGC), Dr. Joseph Siaw Agyepong, has fired up a rallying call for homegrown business strategies to combat the financial hurdles Ghana is currently grappling with.
"It's high time we shake off the slumber and unleash our entrepreneurial spirit, turning these economic hardships into stepping stones towards self-reliance," Dr. Agyepong thundered during the 2022 Annual Thanksgiving Service of the JGC and Zoomlion last Friday, December 9, at their Ashalley Botwe headquarters in Accra.
According to him, increasing domestic production and a shift towards consuming what we produce locally could significantly ease the unrelenting pressure on the Ghana cedi.
"We've got to prioritize local business, and I've got a gut feeling we're going to emerge from this tough patch by the grace of the Almighty God," he declared optimistically.
The year 2022, he lamented, had been a rollercoaster of economic challenges, with negative impacts on businesses and individuals.
"It's easy to lose sight of the blessings that the Lord has showered upon us. Remember, even in our darkest moments, the Lord has been faithfully standing by our side," he reminded us Ghanaians.
Dr. Agyepong is convinced that Ghana will eventually break free from our economic rut. He praised the government for its policy initiatives aimed at boosting local industries and protecting them from imports.
"The government's decision to restrict the importation of commodities like vegetable oil, rice, poultry, fruit juices, and ceramic tiles, is a wise move towards self-sufficiency," he stated.
However, he implored for an expansion of these restrictions to cover anything that the locals produce with a competitive edge.
"By doing so, we enhance the domestic market for these products, generating ample job opportunities for our youth. As we celebrate the government's efforts, we humbly request their ironclad commitment to this policy. We don’t want to witness a situation where investors invest heavily in local industries, only to be derailed by lack of government backing," Dr. Agyepong pleaded.
In these challenging times, Dr. Agyepong lauded the resilience of Ghanaians.
"Our nature and cultural identity have us as typically industrious, peaceful, unified, and supportive people. But, remember, we are renowned for our hard work, patient spirit, and unwavering loyalty to our beloved motherland," he emphasized.
"In these times of localization, let's commit to doing top-notch work and producing top-shelf commodities," he urged.
Dr. Agyepong also emphasized the importance of supporting Ghana-made products for our economy to bounce back.
"We must all cherish, sustain, and champion homemade goods. By doing so, we help our economy regain its footing," he explained.
He further encouraged other businesses to back the government's initiatives and urged the youth to join the movement, "I implore the youth to get in the game, seize the opportunities the government provides through initiatives like YouStart, planting for food and jobs, and contribute to our country's growth," he said.
Dr. Agyepong extended his heartfelt gratitude to all who showed love and support during the demise and funeral of his late father, Opanyin Samuel Kwame Agyepong.
"Words fail me as I reflect on the great support and services you offered to make my father's final journey unforgettable. Out of respect for everyone, I cannot mention individual names, but please know I am grateful to each and every one of you. However, I must express my utmost gratitude to President Nana Addo Dankwa Akufo-Addo, Vice President Dr. Mahamudu Bawumia, Former Presidents John Agyekum Kufour, and John Dramani Mahama for their presence at the funeral. That moment will forever be engraved in my heart," he said.
In a broader context, while specific homegrown solutions advocated by Dr. Agyepong are yet to be detailed, his emphasis is on collaboration, sustainable development, and job creation through African-led initiatives.
- Dr. Agyepong suggested prioritizing local businesses as a means to alleviate the strain on the Ghana cedi and promote self-reliance.
- He commended the government's policy initiatives aimed at boosting local industries, particularly the restrictions on the importation of certain commodities.
- The Executive Boss of the Jospong Group of Companies urged the government to expand these restrictions to cover locally produced goods with a competitive edge.
- In an effort to support Ghana's economic recovery, Dr. Agyepong encouraged everyone to champion homemade goods, and called upon the youth to get involved in local business initiatives.
