The former Trade and Industry Minister, Alan Kyerematen, has said the Kumasi industrial city and special economic zone is a game changer for the industrial transformation agenda when completed.
According to him, continents like Asia have used industrial zones, special economic zones to be able to catalyse development, and that the President Akufo-Addo’s government is creating industrial paths and economic zones around the country.
“What we are seeking to do is going to be a legacy project, it is going to be the flagship industrial project in Ghana,” Mr. Kyerematen said this when he visited the Asantehene, Otumfuo Osei Tutu II at Manhyia Palace in Kumasi last Wednesday with an entourage.
The visit was to inform the King formally of his resignation as the Minister for Trade and Industry with effect from 16th January 2023. The delegation included the World Bank Country Director, Pierre Laporte, and Directors of the Ministry.
Mr. Kyerematen commended the Asantehene for the role he played in leading the One District One Factory advocacy in Ashanti.
“You made a commitment by establishing a fruit juice processing company.
This is meant to be an example for other leaders around the world to follow in terms of supporting the government’s industrial transformation agenda,” he advocated.
Mr. Kyematen indicated that Tema had been an iconic industrial initiative, but that was built so many decades ago and as the world advanced with the onset of African Continental Free Trade Area (AfCTFA) there were investors both within and outside the country who were seeing the opportunities that were offered by the free trade to establish industrial enterprises in Ghana.
The Greater Kumasi Industrial City and Special Economic Zone which is located in the Ejisu Municipality is said to be strategic because Ashanti Region is the confluence of almost nine regions in the country.
It is also the transit corridor to the Sahelian countries (Niger, Mali, Burkina Faso and Chad)
Currently the government has acquired 5,000 acres of land in the Municipality adjoining the Boankra Inland Port.
The plan is to have different industrial parts within the industrial city.
There will be an agro-industrial Park, which would concentrate on foods and beverages, garment village, Pharmaceutical Park, new technology and innovation centre, mineral processing zone, financial services sector, hospitality and entertainment enclave.
The World Bank put in about 30 million dollars as initial investment to develop the off-site infrastructure to attract and crowd in private sector financing.
Government has also made a request to the South Korean government for 150, 000,000 to extend the offsite infrastructure.
