The government must establish the conditions necessary for the private industries to thrive, according to Dr. Godwin Kojo Ayenor, the Development Bank Ghana’s (DBG) deputy chief economist.
He argued that in order for the sector to remain competitive, an enabling environment must be established.
“The private sector needs to be competitive and the government needs to create the environment for that to happen,” he said.
“There are spaces and gaps in this whole value chain and so we need to connect the demands with the supply and create the enabling environment for the private sector to invest,” Dr. Ayenor said during a media engagement in Accra on Thursday.
To advance food security in the country, the Development Bank Ghana (DBG) has launched an effort to increase the production of three cereals and poultry. Rice, maize, and soy beans make up the cereals.
The bank will help participants in the value chain as part of the program, which launches with workshops, to increase local production of the commodities.
The government will save a lot through the intervention the bank was putting in place, according to Michael Mensah Baah, the DBG’s deputy chief executive officer. Each year, the country spends roughly $1 billion on the importation of rice and $600 million on poultry.
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