Akufo-Addo opens expanded GB Foods factory in Tema

The expanded GB Foods Plant in Tema was officially opened by President Nana Addo Dankwa Akufo-Addo today, Tuesday, March 14, 2023. He made a commitment to continue empowering the Ghanaian private sector’s inventive and entrepreneurial impulses in order to spur rapid growth and generate jobs.

The President asserts that his administration’s stated goal has always been to unleash the full potential of the private sector and Ghanaians’ entrepreneurial spirit in order to bring wealth and jobs to all Ghanaians and establish Ghana as a top investment destination.

The administration I lead is a natural supporter of the private sector, and it is my earnest hope that GB Foods and the Ghanaian private sector would continue to invest in Ghana, according to President Akufo-Addo. The best method to grow and build our economy in order to produce the numerous employment that our young people so much seek is through cascading investments. It will take place, and quickly.

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President Akufo-Addo acknowledged that government is unable to generate enough jobs on its own, but added, “It is for this reason that, when we took office in 2017, my government put in place measures to cut the cost of doing business and improve the business environment.”

He said that between 2017 and 2020, Ghana has “modestly succeeded in making the Ghanaian economy one of the fastest growing economies in the world, as well as one of the most business-friendly economies in Africa, up from the 3.4% rate we inherited in 2016, the lowest in two (2) decades.”

“Our goal remains same, and that is to unleash the innovative and entrepreneurial instincts of the Ghanaian private sector to promote rapid growth and job creation,” he stated, despite changes in the global economic landscape. I have faith that we will accomplish this crucial objective.

The president expressed his excitement over the possibility that GB Foods’ expansion will affect the company’s decisions “not only to source domestically for its raw material base, but also to venture into the establishment of two industrial farmlands for the processing of tomato concentrate” and expressed his hope that “many more companies would commit to such a development.”

“The government I lead is a natural cheerleader for the private sector, and it is my earnest intention that GB Foods, and, indeed, the Ghanaian private sector will continue to invest further in Ghana. The best method to grow and build our economy in order to produce the numerous employment that our young people so much seek is through cascading investments. It will take place, and soon,” he said.