Ghana govt’s stimulus plan to cover establishment of integrated Bauxite & Aluminum Development Authority

Government of Ghana has put on table an extensive Stimulus Package for financially distressed, but economically viable and promising businesses. Establishment of the Integrated Bauxite and Aluminum Development Authority by law is one of the plans in the blueprint.

The government is determined to exploit the strategic natural resources that the country has in bauxite and other ore deposits to put its economic growth on fast track.

 “To this end, an Integrated Bauxite and Aluminum Development Authority is to be established by law, in this meeting of Parliament, to spearhead the exploitation along the full value chain of our consumable bauxite resources,” President of the Republic, Nana Addo Dankwa Akufo-Addo said at a recent Chamber of Commerce event.

According to him, exploitation of the domestic bauxite resources “will give a considerable fillip to our industrial development, as will also be the case for the exploitation of our iron ore deposits.”

It is vital for a country like Ghana to shift from being primarily a production and export-dependent economy to being an integrated and more importantly, a value-added one. That will help enhance its value in the world market and create more employment than in usual case.

President Akufo-Addo echoed this view and touched upon several elements covered in the Agenda of Industrial Transformation. Till now, over 190 business proposals have been selected under this programme aimed at creating jobs for the Ghanaian people, he revealed.