New block factory for Millenium City
The Okyenhene, Osagyefuo Amoatia Ofori Panin II, has asked Ghanaians to make the purchase of locally made goods a priority, since it is the key to advancing Ghana’s economy.
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He said most developed nations were able to build their economies because their people bought the idea of consuming their own products.
Osagyefuo Ofori Panin made the appeal when he and the Central Regional Minister, Mr Aquainas Tawiah Quansah, inaugurated an ultra-modern block factory at Kasoa Millennium City in the Central Region.
Called the Obaa Ahema Block Factory, the facility has the capacity to produce 40,000 different sizes of building blocks daily.
It was constructed by 21st Century Construction Company and owned by the Managing Director of the Millennium Group of Companies, Mr Kofi Asmah.
It was financed by First Capital Plus Bank.
Osagyefuo Ofori Panin said one of the best ways to open up the country’s economy was for the citizens to regard locally made goods as equally good as those imported from the developed world.
According to him, patronising locally made products helped to sustain the operations of indigenous entrepreneurs, adding that “we help Ghanaian businesses expand and employ more by buying their products”.
Banks not helping
The Okyenhene said one of the biggest problems that confronted the operations of local businesses was the acquisition of credit facilities to expand.
He said high interest rates charged by the banks continued to discourage many businesses from securing the needed financial assistance to grow their operations.
Osagyefuo Ofori Panin said one of the ways to empower Ghanaian businesses to double their capacity to employ more was for the banks to cut down their interest rate.
He, therefore, commended Mr Asmah for his relentless effort to help address the housing deficit in the country, in spite of being faced with numerous challenges.
21st Century Construction determined
The Chief Executive Officer of 21st Century Construction Limited, Ms Linda Asmah-Armah, said the block factory was constructed to meet the building and housing needs of Ghanaians, especially residents of the Millennium City.
He said the factory was the biggest in the industry and had been furnished with modern equipment aimed at producing quality solid, pavement and concrete blocks for people and businesses that were into housing.
She said the company would continue to establish ventures that would enhance the well-being of the average Ghanaian.
For his part, Mr Quansah said the government was determined to create the needed environment for local businesses to grow.
He said the example set by Mr Asmah should motivate Ghanaians, especially the youth, to dream big and support the country to grow.