The Kwame Nkrumah University of Science and Technology School of Business (KSB) has held the maiden edition of the KSB Business and Policy Review Series under the theme: "The Industrial Transformation of Ghana: Strategic Priorities" on Thursday, 13th June 2024 at the Postgraduate Block E Auditorium, KSB.
According to the Dean of KSB, Professor Ahmed Agyapong, Ghana in recent times, has made significant strides in industrial development, particularly in sectors such as agriculture, manufacturing, and services. However, he noted the need to focus on critical strategic priorities to achieve a holistic and transformative industrial agenda. He believes that prioritising innovation and technology adoption; infrastructural development and human capital development are crucial to achieve a transformative industrial agenda. ‘‘To sustain industrial growth, we need a skilled and adaptable workforce, which requires continuous investment in education and training, aligning academic curricula with industry needs and promoting lifelong learning,’’ he said.
Professor Agyapong stressed the importance of embracing cutting-edge technologies to enhance industry productivity and efficiency. He highlighted the need for significant investment in research and development and the support of entrepreneurial initiatives and digital transformation within businesses. Furthermore, he mentioned that robust infrastructure, including transport networks, energy supply, and digital infrastructure, is essential for industrialisation. “Creating an enabling environment that encourages investment in research and development and entrepreneurship, supports the digital transformation of businesses, fosters competition, and protects the interests of all stakeholders is essential,” he added.
The Dean also pointed out the critical role of environmentally sustainable practices, effective policies and regulatory frameworks and public-private partnerships in fostering industrial transformation. ‘We must prioritise these areas to facilitate smooth and efficient industrial operations.” he explained.
The series delved into insights and experiences aimed at Ghana’s industrial transformation featuring notable personalities, including Professor (Sr.) Eugenia Amporfu from the Department of Economics, KNUST; Dr. Samuel Yaw Akomea, of the Department of Marketing and Corporate Strategy; Hon. Moses Asaga, a Former Deputy Finance Minister of the Republic of Ghana; Mr. Austin Gamey, CEO of Gamey and Gamey Group; and Mr. Seth Twum Akwaboah, CEO of the Association of Ghana Industries.
In a panel discussion, Professor (Sr.) Eugenia Amporfu called for a focus on quality product output to help local industries succeed both nationally and internationally. Mr. Seth Twum Akwaboah highlighted the importance of government support in providing funds and the essence of patenting for the advancement of local industries.
Mr. Moses Asaga advocated for a vibrant macroeconomic environment to enable the private sector to thrive. Joining the discussion online, Mr. Austin Gamey emphasised the importance of consensus building to harmonise the Ghana’s human resources and technology. “We add value consistently to the human resource, then apply that knowledge to ensure that technology works,” he said.
The discussion also highlighted the need for a national development plan, robust institutions for accountability, effective and selfless leadership practices, and developing the informal sector through training programmes. Additionally, there was a call for support for local businesses with production costs, facilitating market access, enhancing private sector efficiency, and conducting rigorous research to underpin industrial transformation.
