Government’s strategic priority is to support growth of indigenous companies – Veep

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Government's strategic priority is to support growth of indigenous companies – Veep
Government's strategic priority is to support growth of indigenous companies – Veep

Africa-Press – Ghana. Vice President Mahamudu Bawumia Wednesday reiterated government’s resolve to supporting indigenous companies to thrive to propel economic growth.

He noted that industrialisation had been a strategic priority of the Government and cited Tropical Cable and Conductor Limited (TCCL) as an example of Ghanaian excellence.

“Twenty-five years ago, the scale of what we see here today was difficult to imagine, but due diligence, discipline, innovation and hard work have paid off and propelled you to sit at the top of your industry, serving power utilities, the real estate, construction sectors, the mining sector and so on, with internationally-certified cables and conductors,” he said.

“As a nation, we are, indeed, proud to have an indigenous company like Tropical Cable and Conductor Limited, and by its achievements over the years, has given meaning to the belief that this nation is capable of producing and sustaining industrial excellence.”

Vice President Bawumia made the remarks in Tema in a keynote address at the 25th Anniversary of the Tropical Cable and Conductor Limited (TCCL), on the theme: “25 Years of Impacting Ghana; New Ideas, New Products and New Market.”

He also unveiled a new product for the company – Certified Coetzer Cat6 Cable in Ghana – to support Ghana’s industrialisation agenda. The TCCL is the first wholly owned indigenous electrical cable manufacturing company based in the industrial city of Tema, in the Greater Accra Region, incorporated in 1997.

It has made impressive progress with a production capacity of over 8,000 tonnes of Aluminium and Copper per annum and serving the real estate, energy and mining sectors in Ghana and West African sub-region.

It produces a wide range of quality electrical conductors and cables used for power installation, power transmission and distribution, building and construction, oil and gas, health, agriculture and industrial applications.

The company has an internationally acclaimed ISO 9001 Quality Management System Certification and became the first cable manufacturing company in Ghana to produce armoured and underground power cables.

Vice President Bawumia commended the visionary leadership of Dr Toni Oteng Gyasi, the Founder and Executive Chairman of TCCL, for creating jobs for the teeming Ghanaian youth and expressed the belief that the company was on the path of becoming a global giant in manufacturing of world-class cables and conductors.

“President Akufo-Addo’s Government’s vision of Ghana Beyond Aid was intended to industrialise the Ghanaian economy by adding value to the raw materials and being self-reliant,” he said.

“The emerging global architecture created by the COVID-19 pandemic and the Russia-Ukraine war would require every nation to be self-dependent in securing goods and services to feed its people and industries.”

The Vice President said a total of 107 companies had been established and in operation under the Government’s One-District, One-Fsctory initiative as at the end of May, this year, noting that, with the right mind-set and ‘Can-do-Spirit’, Ghana could make a headway in industrialising her economy to create jobs and prosperity.

Government would create a conducive environment in terms of policy framework to make Ghanaian entrepreneurs thrive, he said. Dr Oteng Gyasi, on his part, described the 25 years in operation as “revealing, interesting and full of lessons” and expressed the belief that it would propel the company to achieve greater laurels in the coming years.

He acknowledged the tremendous sacrifices and dedication of some staff and management members of the TCCL that had enabled it to survive the challenges it faced at the formative years.

The future of Ghana depended on rapid industrialisation, Dr Oteng Gyasi said, and urged the Government to ensure a conducive environment for the manufacturing sector to thrive.

“The policy environment must be right and lessons learnt over the years should inform future policies that are friendly to local entrepreneurs,” he said.

Mr Martyn Mensah, the Managing Director of TCCL, in his welcome remarks, said the company had survived challenging periods over the past 25 years but collective efforts and determination by management and staff had seen it surmount those hurdles.

He, however, called for government support and flexible benchmark regime for local manufacturers to compete favourably with cable and conductor importers.

Mr Michael Okyere Baafi and Mr William Owuraku Aidoo, Deputy Ministers for Trade and Industry, and Energy, respectively, pledged government’s support to indigenous companies to grow and create jobs.

Source: www.gna.org.gh

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