Nana Owusu-Afari, President of Association of Ghana Industries (AGI), said Zimbabwe's industrial sector could be revamped despite recent economic challenges facing that country.
He indicated that Ghana experienced worse economic performance under military rule but the country had moved on to the path of economic growth and said that a similar situation could occur in Zimbabwe once democratic governance improved.
A statement made available to GNA by AGI indicated that Nana Owusu-Afari was delivering a paper on "Balancing Economic Empowerment, Economic Revival and Growth: Lessons from Ghana" at a two-day annual congress of the Confederation of Zimbabwe Industries (CZI), held from 28th to 30th July 2010 at the Elephant Hills Resort in Victoria Falls, Zimbabwe.
The event that was on the theme: "Private Sector Leadership: A Paradigm Shift for Economic Growth and Development", discussed sustainable
development, labour and industrial productivity, infrastructure, agriculture and funding opportunities, to invigorate the private sector.
Nana Owusu-Afari was invited to Zimbabwe to share Ghana's experiences with industrialists, following Ghana's good performance in economic growth over the past years and AGI's role in policy advocacy regarding industrialisation.
He stressed that peace, good democratic governance, the rule of law and visionary leadership were significant for economic growth and development.
He narrated the history of Ghana's economic development from independence, through the difficult years of military rule to the present
period of efforts towards stabilization and growth under democratic governance.
Nana Owusu-Afari praised Zimbabwe for its current peace and unity, stressing that "it is the only way economic development and empowerment of the people can be achieved".
Members of CZI appreciated initiatives by Ghana to improve its economy and said that it could be a guide for Zimbabwe to come out of its financial downturn.
The CZI was established in 1923 as an independent, self-financed, legally constituted private sector body that represents and serves the
interest of industrialists in Zimbabwe. Its advocacy function is similar to that of AGI in Ghana.
Other speakers at the congress included Professor W. Ncube, Zimbabwe's Minister of Industry and Commerce, Dr. N. Moyo, Vice President and Chief Operations Officer of African Development Bank, Dr. Irene Tlhase, Regional
Infrastructure Specialist of Development Bank of Southern Africa, and Mr. A. Z. Elrashdi, Industry Senior Policy Officer, Department of Trade and
Industry of African Union Commission in Addis Ababa.