Government has indicated plans to strengthen the local steel industry to help create employment for the youth and grow the economy.
This is to be achieved through exploitation of Iron Ore and Manganese deposits in the Northern and Western regions of the country.
President Akufo-Addo announced this during a keynote address to open the Havard Africa Alumni Action Forum in Accra.
He said, “For our part in Ghana, we have set about prosecuting the agenda with the private sector at least one factory each in our 216 districts.”
“Addtionally, I think the time has come for Ghana to develop strategic industries out of its abundant natural resources of bauxite and iron ore,” he said.
President Akufo-Addo said, “We intend to establish shortly an integrated aluminium development authority to assemble the relevant financial resources for the systematic exploitation and transformation of our bauxite into aluminium – the metal of the future.”
He said, “By the same token, we’ve decided to exploit our substantial iron and manganese deposit situated in the Northern and Western regions of our country to build an integrated steel industry to serve the needs of our country and region.
“This process of economic and industrial transformation has to go along with ensuring that the most basic elements of social justice are met”
The event which is the first of its kind in Ghana is part of activities to commemorate the 60th Anniversary of the flagship international mason programme at Havard University which coincided with the Ghana’s at 60 Celebrations.
The forum is under the theme “re-imagining Africa: a call to Action” aims at initiating conversations, foster relationships, develop recommendations and a set of policy advice to address the challenges that impact various sectors of Africa.