Free Zones Board To Set Up A New Enclave In Sekondi

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By Cecil Mensah

The Executive Secretary of Ghana Free Zones Board (FZB), has disclosed that the Board is working to establish sixty-seven (67) million Dollars industrial institute at Sekondi in the Western Region, in addition to the Tema free zones enclave in the Greater Accra Region.

According to Mr Kojo Twum Boafo, the Executive Secretary of FZB, the National Democratic Congress (NDC) has included the activities of the Board in the China Development Bank (CDB) loan agreement, in which “we are being given over sixty-seven (67) million Dollars to start another industrial institute.

Commenting on support for the Board, Mr Kojo Twum Boafo said, in terms of support, the current government has been fantastic. “They have also put before Parliament a subsidiary Legislation to review the current free-zones law to change it from a Board to an authority, so that the oversized body for the free zone itself is able to improve on its own programmes without necessarily having to be hitched to Ministry of Trade.

He concluded that there has been a lot of support from the government adding that he has worked with two capable Ministers: Hannah Tetteh and Haruna Iddrisu have been nothing short of fantastic in terms of what the programme stands for.

He said the Board’s biggest achievement is that the Board has put more than 30,000 people in employment.

“We have had a total exports schedule of about $ 11.7 billion Dollars since 1998.

The capital invested in the free-zones programme alone is about $ 2.3 billion.

So I think that, in terms of what it has brought, the numbers speaks for them. This is something that you will not have if you don’t streamline the programme to make it attractive to investors” he explained

He stated that Ghana has already become the preferred destination for enterprise in West Africa.

Ghana has become the favoured destination because the country has a policy of not expropriating investments; therefore investments are safe in the country.

“On top of that, a conducive environment has been provided for investment because Ghana believes that money does not like noise”.
Mr Kojo Twum Boafo, made this statement in an interview with the Africa Watch Magazine.

He said, the National Democratic Congress (NDC) has been very supportive of the investments policies of the Board.

On the sector that offers the most opportunities for investors, he said without a doubt, it is processing, because “our best companies are in the processing. Let me start the big conglomerates.

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