Kwawdo Twum Boafo Commends Free Zones Enclave Companies

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Ghana’s Free Zones Programme is touted as one of the most successful in the West African sub-region. This remarkable achievement couldn’t have been possible without the consideration of both Ghanaian and Foreign Investors to locate their Businesses in Ghana and to use Ghana as a hub for manufacturing and processing for export.

The fruits of your tireless efforts have yielded the underlisted results:
• Total capital invested US$35bn
• Total export US$37bn
• Employment 31,005
• Tax and duties on local sales $140m
• 1% of total annual salary/wage $20m

bill of Free Zone Companies spent on training Ghanaian nationals employed in the companies
• Social Security $123.6m
• Income Tax $125.6m
• Ghanaian owned Free Zone Companies 47%

After all the hard work, after all your immense contribution to Ghana’s developmental agenda, I would like to congratulate all Licensed Free Zone Companies sited on the Tema Enclave, and those operating as Single-Factory Enterprises in all the 10 Regions of Ghana.

I must add that to the extent that the nation through the free zones programme is striving to attract foreign investments into the country, I would like to encourage Ghanaian entrepreneurs and local manufacturing companies to take up the mantle of production and value addition to create additional employment for Ghanaians and maximise the value of Ghana’s export to enable us compete keenly with global brands on the world market and to accelerate the nation’s developmental agenda.

I wish you the best of the season

I wish you a more fruitful and successful year 2015

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