By Emelia B. Addae
Koforidua, April 7, GNA – The Eastern, Volta, and Oti Regional Branch of the Association of Ghana Industries (AGI) has organized a post-budget meeting and the first-ever Conversation 4Action (C4A) programme in the eastern regional capital, Koforidua.
The event was on the theme: “Navigating the Fiscal Landscape: Strategic Investment Opportunities & Challenges in Ghana’s 2025 Budget for Industry.”
It brought together industry representatives, academia, government officials, and other key stakeholders to deliberate on the implications of the 2025 national budget on Ghana’s industrial sector.
The dialogue featured insightful discussions on investment opportunities, fiscal policies, and economic challenges, with contributions from seasoned experts and policymakers.
Mrs. Rita Akosua Adjei Awatey, the Eastern Regional Minister, served as the Guest of Honour, while Dr. Jamal Mohammed, a Senior Lecturer at Koforidua Technical University, was the lead discussant.
Participants engaged in an interactive open forum and networking session, providing a platform to address industry concerns, collaborate on solutions, and showcase innovative products.
Addressing the participants, Mr. Dela Gadzanku, Regional Chairman of the AGI for Eastern, Volta, and Oti regions explained that the C4A focused on creating a dialogue roundtable with industry players and policymakers to discuss the growth and development of Industries in the regions.
He said the government’s budget had laid out bold initiatives aimed at industrial transformation, infrastructure expansion, and job creation—yet it also presented new tax structures, fiscal tightening, and policy shifts that required careful analysis and responsive strategies.
“Our industries are the engines of our economy, and it is through strategic foresight and informed decision-making that we can ensure their competitiveness and resilience,” he said.
He encouraged participants to network, critique and contribute to the dialogue, saying, “we can co-create a productive and seamless path to economic greatness.”
Dr. Jamal Mohammed, a Senior Lecturer in Economics at the Koforidua Technical University and Executive Director of the Africa Development and Resources Research Institute (ADRRI), noted that the budget highlighted macroeconomic challenges such as the exchange rate volatility, inflation, and energy sector shortfalls that could impact business operations.
He highlighted that the government’s high debt servicing would significantly constrain infrastructure spending, affecting long-term industrial projects.
He emphasized the need for budget alignment with policies that directly reduce production costs, ensuring a more supportive environment for industrial growth.
He also suggested that the government re-evaluate the key drivers of foreign exchange volatility and explore local sourcing alternatives to enhance economic stability.
Additional recommendations included the identification and support of micro-industries across various regions, bringing them up to speed with investment opportunities.
He stressed the importance of establishing effective monitoring mechanisms to oversee the proper allocation and utilization of funds while systematically evaluating business progress.
To ensure efficiency, the proposed measures should include a comprehensive list of businesses, along with detailed profiles covering staff strength, investment levels, and relevant security concerns.
“These could be properly assigned to the potential prospects of the 24-hour economy,” Dr. Mohammed said.
Mrs. Rita Akosua Adjei Awatey, the Eastern Regional Minister, commended AGI for its leadership in fostering such engagements, as they were critical to ensuring that government policies and budgetary allocations translated into tangible benefits for businesses and the economy at large.
She stated that the government was actively addressing taxation, exchange rate instability, and inflation, all of which have a significant impact on company expenditure and production costs.
She noted that the removal of the E-Levy, alongside other tax reforms, aimed at eliminating barriers to economic growth, fostering a more business-friendly environment
“We anticipate that micro, small, medium, and large enterprises will leverage these reforms to rebuild their operations and contribute positively to the macroeconomic landscape in the near future,” she said.
GNA
DL/CA