Bawumia: We are committed to empower local industries to compete globally
The Vice-President, Dr Mahamudu Bawumia, has reiterated the government’s commitment to empowering indigenous industries in order to get them ready for the emergence of what he called, a new global architecture.
He therefore, called for a rethink, and the offering of more support to local Ghanaian industries, to empower them and become as successful as Tropical Cables in order to be internationally competitive.
“The on-going global economic crisis, which is the result of the COVID-19 pandemic and the Russia-Ukraine war, will bring about a new global architecture, where countries will have to be more dependent on themselves,” Dr Bawumia said.
“So, there has to be a rethinking of the policy environment; what can we do to empower our local industries. We don’t know when this war between Russia and Ukraine will end but it will end, even if it is five years, it will end.
“But we have to be prepared for the new emerging global architecture and we can only be prepared for it if we are empowering our local industries to produce and to compete globally,” he said.
Government’s industrialisation vision
“Industrialisation has been a strategic priority of the President Akufo-Addo government. The one district-one factory (1D1F) initiative has been transformed from a political mantra into an effective flagship programme geared towards revamping of the economy to create job opportunities for our teeming graduate youth,” Bawumia said.
“This is why our government in 2019 launched the Ghana Beyond Aid programme, with the overriding objective of adding value to our raw materials at source.”
25 years of TCCL excellence
Congratulating Tropical Cable on its 25th anniversary, Dr Bawumia expressed joy that an indigenous Ghanaian company, which started on a modest note and went through the challenges of industrialisation, has grown to be an industry leader and has also become globally competitive.
“We are gathered here to congratulate and to celebrate you as a company on the attainment of this remarkable milestone. I am sure that, 25 years ago the scale of what we see here today was probably difficult to imagine but due diligence, discipline and innovation and hard work, have paid off and propelled you to sit at the top of your industry, serving power utilities, the real estate and construction sectors, the mining sector, and son on, with internationally certified cables and conductors.”
“As a nation, we are indeed proud to have an indigenous company like Tropical Cable. Its achievements over the years, have given meaning to the belief that this nation is capable of producing and sustaining industrial excellence.”
At the ceremony, the Vice President also launched Tropical Cable’s CAT-6 cable, which is the first certified CAT-6 cable to be manufactured in Ghana.