“Yes, we are in trying times, but we can bounce back. We must look inward and customize our solutions to the unique problems we have as a country. In every adversity there are pockets of opportunities that need attention.”
These were the words of hope by the Chairman and CEO of the McDan Group of companies, Dr. Daniel McKorley as he made his remarks to set the tone for the Day 1 of the 11th Ghana Economic Forum held on Tuesday, 25th October 2022 at the Kempinski Gold Coast Hotel.
Dr. McKorley stated that the benefits and impact of the African Continental Free Trade Area (AFCFTA) is one of the key interventions that should be leveraged. And he also referred to the recently signed landmark MOU between the McDan Group of Companies and AFCFTA
The African Continental Free Trade Area (AfCFTA) is an ambitious flagship agreement established to spearhead the industrial transformation and economic development of Africa. It is expected to boost intra-African trade, create employment across the continent and generate a gross domestic product (GDP) of $3.4 trillion by the end of the decade (world Bank, 2020). Currently, 43 of the 54 signatories have deposited their instruments of the AfCFTA ratification, representing 80% of the member states.
The first plenary discussion for this year’s forum focused on the theme, “Reducing the fiscal gap: An approach to improving Government revenue.” The panelists echoed the sentiments of Dr Mckorley during their session that the economy was in a dire situation, but they brought out causes and solutions to minimize, limit and guide the country out of recession.
The Ghana Economic Forum is an annual economic discussion that engages businesses, political, civil society, Academia, and other groups of stakeholders to deliberate on current issues and trends confronting the economy.
The event also features top experts on all sectors of the Ghanaian Economy to address emerging challenges that influence national agenda and promote sustainable growth and developmental policies for Ghana. The 11th edition of the economic forum was on a general theme, “Building a robust and resilient economy through technology, finance, investment, trade and entrepreneurship. The three-day event has so far featured industry experts such as the former Minister of Finance, Hon. Seth Terkper, The Commissioner – General of the Ghana Revenue Authority, Reverend Dr. Ammishaddai Owusu-Amoah, Prof. Godfred Bokpin, Finance Lecturer at the University of Ghana, Dr. John K. Kwakye – Director of Research, Institute of Economic Affairs.
