Business & Finance

President Akufo-Addo Commissions Expanded GB Foods Factory In Tema

The President of the Republic, Nana Addo Dankwa Akufo-Addo has commissioned the expanded GB Foods Factory in Tema with the pledge to continue unleashing the innovative, entrepreneurial instincts of the Ghanaian private sector to drive rapid growth and create jobs.


This took place on Tuesday, March 14, 2023.


According to the President, it has always remained the avowed aim of his government to unlock the full potential of the private sector and the Ghanaian sense of enterprise to create jobs and prosperity for all Ghanaians, and to position Ghana as a preferred investment destination.


President Akufo-Addo maintained that, it is therefore for this reason that “the government I lead is a natural cheerleader for the private sector, and it is my sincere wish that GB Foods, and, indeed, the Ghanaian private sector will continue to invest further in Ghana. Cascading investments in our economy is the most effective way to expand and strengthen it in order to create the many jobs our young people so ardently want. It will happen, and soon.”


Whilst acknowledging the limited ability of government to create jobs on its own, President Akufo-Addo noted, “it is for this reason that, when we assumed office in 2017, my government put in place measures to reduce the cost of doing business and improve the business environment.”


He explained that, Ghana had been “modestly successful in making the Ghanaian economy not only one of the most business-friendly economies in Africa, but also one of the fastest growing economies in the world between 2017 and 2020, averaging 7% GDP annual rates of growth, up from the 3.4% rate we inherited in 2016, the lowest in two (2) decades.”


He continued that, “in spite of upheavals on the global economic terrain, our goal remains constant – and that is to unleash the innovative and entrepreneurial instincts of the Ghanaian private sector to drive rapid growth and job creation. I am confident that we will realise this important goal.”


The president was excited about the prospect the expansion of GB Foods will influence the company’s decisions “not only to source domestically its raw material base, but also to venture into the establishment of two industrial farmlands for the processing of tomato concentrate” and hoped that “many more companies would commit to such a development.”



Source: Presidency

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