One big lesson from the impacts of the Corona Virus pandemic is the need to work towards self-sufficiency by promoting indigenous manufacturing companies.
The importance of import substitution industries in the development of countries can never be overemphasized. Inter-alia, it creates job opportunities; reduces import dependency, strengthens the value of the national currency, opens up the country and reduce social vices. This ultimately leads poverty reduction and improvement in the standard of living of the citizenry.
This explains why the government of Ghana has been instrumental in supporting local industries by creating conducive environment in a form of tax wavers and subsides to both existing factories and emerging ones.
Many Ghanaians on social media have been expressing their joy as the first cement product, called Dzata cement which is wholely owned by a Ghanaian hits the market.
Cement is one of the most important building materials in Ghana.
Owned by businessman Ibrahim Mahama, the younger brother of Mr John Mahama, the Dzata cement has hit the market at a time most Ghanaians are bitterly complaining about the price of the existing brands.
What is more intriguing is that the price is relatively low. From the information gathered a bag is currently being sold at GHS30.00.
It is expected that the product will engender competition in the industry thereby leading to lower prices. When this happens, it will benefit consumers of cement products.
Below are the reactions of some Ghanaians.