AGI fired over inability to produce enough goods for local economy

The Trader’s Advocacy Group Ghana has chided the Association of Ghana Industries (AGI) over the inability to produce enough goods for the local economy.

On Adom FM’s Burning Issues Wednesday, the president of the group, Kwadwo Amoanteng, urged Ghanaian not to blame importers over any increment in prices as they have directed Axim Bank’s money to the AGI to produce locally manufactured goods.

He is of the impression that the AGI is underworking because it wants to diminish the strength of the local industry.

“Sometimes I wonder if the AGI wants to diminish the strength of the importers or what. If they can work hard to produce enough goods for the local economy, we thank God but Ghanaians should not blame us if goods become scarce.”

“We have even given the monies we took from Exim Bank to the AGI to operate,” he fumed.

Mr Amoateng also urged distributors who would not be affected by the reversal of the 50% benchmark not to impose more prices on such selected items.

He disclosed that the Trader Advocacy Group is not ready to embark on any demonstration as it will go against them.

Their intention is to impose more prices on goods if the benchmark is reversed.

“I am pleading with those who will not be affected by the reversal of the 50% benchmark value not add anything to the original prices of their goods. We are not embarking on any demonstration or shut down our shops, if we do these, politicians will visit the malls to buy whatever they want”.

Meanwhile, The Chief Executive Officer (CEO) for the Association of Ghana Industries, Seth Twum Akwaboa says the importers’ demand for more goods is at a short notice, making it impossible for AGI to produce and meet their demands.

“We have a long run and a short run, with the long run we would have to expand your business with equipment so as to be able to produce more goods. But if you order for many goods but give me a short period to produce all these goods, I don’t think it would be possible,” he explained.

The government, since 2021, had announced its intention to reverse the 50% benchmark values imposed on some 43 selected items.

Various trading groups upon hearing this have been agitating with the position that the reversal of the 50% benchmark values would cause a spike in some items.