Local producers cannot compromise on the quality of goods for the single market if they truly want to trade and rake in the desired benefits, Mark Badu-Aboagye, Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI) mentions.
“Whenever you have an idea, make sure that you are producing to be able to compete with the same person coming from South Africa.
Even if you are not exporting there, the South African products are also coming so you also be very competitive locally. Otherwise, we will not be able to go there and they will come here and compete with us,” he says in an interview with Single African Market.
He says the AfCFTA creates a bigger market for trade by eliminating the various bottlenecks that impede the external expansion of Ghanaian manufacturers and producers
“I think the AfCFTA is one of the biggest marketing in Africa and also to private sector development in Africa.Now we have a market of 1.2 billion people with a GDP of over 3.4 trillion is huge; within the AfCFTA, businesses can expand and employ a lot of people. Now they can also be part of a global value chain either within a region or with the AfCFTA,” he adds.
Mr. Badu-Aboagye stresses that the single continental market holds enormous potential and it depends on how the state, individuals and businesses position themselves to tap its benefits.
“We have three main roles to play. The first one is to sensitize the business community about AfCFTA. It is not just enough signing the agreement.The business community should understand what is in the agreement, and they also need to be able to trade and participate within this market that we have created,” he notes.
According to the GNCCI chief executive, there must also be a conscious effort to create demand for Ghanaian products and businesses in the single market.He explains: “AfCFTA creates a market, it doesn’t create the demand. The market has been created and you can only benefit when you create the demand.
We have created a platform that every member of the chamber and even other businesses who are not yet members of the chamber, can help them to do that and can input their products, the quantity that they can produce at any particular time.”Mr. Badu-Aboagye further charges local producers to pay attention to basics such as packaging, marketing strategy and corporate governance which makes the business very competitive.
“These things that businesses usually overlook are the ones that are making businesses uncompetitive. Before you enter into the international market you have had all these things put together and become well prepared to enter into the market,” he advises.
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