Time to build local giants to own domestic retail business-GNCCI

The Ghana National Chamber of Commerce and Industry (GNCCI) is calling on government to deploy innovative policy decisions that could inspire an active local presence in the booming retail business and in the broader interest of boosting the patronage and consumption of locally-produced products.

According to the chamber’s president, Clement Osei Amoako, the wholesale and retail sector will be critical to the promotion of made-in-Ghana goods hence the need for strategic actions to attract local entrepreneurs to that space.

Speaking at the maiden edition of the Made in Ghana Summit (MIGS 2022) in Accra, he said the current economic dispensation requires of policymakers to integrate the wholesale and retail sector into the nation’s economic development programme.

“The domestic wholesale and retail sector is a very significant and dynamic contributor to the Ghanaian economy and must be strategically positioned to engender the patronage of made-in-Ghana products,” he said.

Mr. Amoako added: “New investments and budgetary allocations will be needed to recruit local entrepreneurs into the wholesale and retail sector to structure stylised merchandise of value-added Ghana-made products in the semblance of Shoprite, Game, Palace, Koala, Melcom, Pick & Pay, and Massmart Holdings.”

This, he argued, would offer great potential for future industrialisation, improved manufacturing, job and wealth creation, as well as major benefits for consumers, traders, logistics and transport investors.

“We are in tougher times and this call for timely and proactive measures to mitigate the associated impact and enable local businesses and industries to build resilience,” he noted.

Mr. Amoako said the proposed policy interventions must include strategic collaboration with the media to enhance the image of made-in-Ghana products and services, encourage investments in zero-based resourcing and smart automation technologies that will enable retailers of Ghana-made goods to capture the heart of the youth.

He further urged government to continue working with stakeholders in formulating and implementing policies and programmes that deliver shared growth and prosperity.

The one-day summit on the theme, “Building Strong Ghanaian Brands for Global Competitiveness”, convened stakeholders in the local production space to discuss and proffer workable strategies to improve the consumption and patronage of locally-made products and services to drive the growth of the nation.

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