Nana Addo Dankwa Akufo-Addo’s Presidency has outlined some key projects under the Ghana CARES ‘Obaatampa’ Programme to be completed within the New Patriotic Party government.
Speaking at first 2021 State Of The Nation Address (2021 SONA) at the Parliament’s House on Thursday, 9th March, 2021, President Akufo-Addo said, his Government found the resources to cushion the impact of the pandemic because they are good managers of the economy, and are good protectors of the public purse.
He President reiterated that, the pandemic has exposed the need to expedite the process of moving Ghana to a situation beyond aid.
According to him, that is why Government has developed and is currently implementing the one hundred-billion-cedi (GH¢100 billion) Ghana CARES ‘Obaatampa’ Programme to transform, revitalise and modernise our economy, and return it to high and sustained growth for the next three years. The key projects under the CARES Programme include:
1. supporting commercial farming and attracting educated youth into commercial farming.
2. building the country’s light manufacturing sector.
3. developing engineering/machine tools and ICT/digital economy industries.
4. fast tracking digitalisation.
5. developing Ghana’s housing & construction industry.
6. establishing Ghana as a Regional Hub.
7. reviewing and optimising the implementation of Government flagships and key programmes; and
8. creating jobs for young people, and expanding opportunities for the vulnerable in society, including persons with disabilities.
President Akufo-Addo further said, the establishment of the National Development Bank, under the Ghana CARES programme, is expected to provide support to businesses in Ghana. Government expects economic activity, which has already picked up, to do so even further, following the ongoing vaccination exercise, and the easing of restrictions put in place to curb the effects of the disease. We expect GDP growth to rebound strongly this year to nearly five percent (5%), above the IMF’s 2021 January projection of 3.2% growth for Sub-Saharan Africa for 2021.
The medium-term outlook supported by the implementation of the Ghana CARES Programme is bright. We are confident that, together, we will emerge from the COVID-19 pandemic with a stronger and more resilient economy.