Ghana: Press zooms in on inauguration of 2nd phase of Sinotruk Assembly Plant, others

APA – Accra (Ghana)
President Akufo-Addo’s inauguration of the second phase of the Sinotruk Assembling Plant at the Kpone-Katamanso Municipality and also cut the sod for the phase three of the project as part of the government’s industrialisation drive is one of the trending stories in the Ghanaian press on Wednesday.
The Ghanaian Times reports that President Akufo-Addo yesterday inaugurated the second phase of the Sinotruk assembling plant at the Kpone-Katamanso Municipality and also cut the sod for the phase three of the project as part of the government’s industrialisation drive.
With the second phase completed, the plant owned by Zonda Tec Ghana Limited now has the capacity to produce about 3,000 trucks per annum from the current 850 trucks.
Inaugurating the facility at Katamanso in the Greater Accra Region yesterday, President Akufo-Addo said it was significant that even as Sinotruk Ghana Limited begun commercial production for phase two, it was also investing in a third phase of expansion.
He said this demonstrated the confidence of the growth trajectory of the truck assembly business and the growth prospects of Ghana’s economy.
The President said Sinotruk and its partners had demonstrated how major players in the import and distribution chain had taken advantage of the government’s strategic intervention of One District One Factory (1D1F) to transition from importation and distribution of trucks to establishing assembly plants for both the local and export market.
“It is based on the solid foundation of the first phase investment in Kpone-Katamanso that Sinotruk’s business in Ghana continues to soar. I am reliably informed that this new assembly plant we are about to commission in Tema will increase the current annual production capacity from 850 trucks to more than 3,000 heavy-duty and light-duty trucks, including tipper trucks, wheel loaders, backhoes, trailers, semi-trailers, oil tankers as well as a variety of light-duty vehicles, assembled from Semi-Knocked Down (SKDs) kits, which ensure adherence to international standards of quality and safety,” he said.
In addition, he said the assembly plant would double employment in the company from 356 to 700 as well as also create 1,000 indirect employment opportunities.
On his part, the Minister of Trade and Industry, Mr Kobina Tahir Hammond said the Kpone-Katamanso Municipality had become a bustling hub boasting of at least 10 1D1F companies.
The Chief Executive Officer of Sinotruk, Ms Yang Yang expressed her appreciation to the government for making the project successful.
She said not only would the plant create job opportunities for Ghanaians, but would also act as a strategic partner in Ghana’s industrialisation agenda.
The newspaper says that Ghana is set to produce anti-snake venom locally, to save the lives of people who are bitten by snakes, sometimes leading to deaths due to the lack of life- saving vaccines.
Consequently, a memorandum of understanding (MoU) has been signed between Atlantic Lifesciences, a Ghanaian company, and Vins Bioproducts, an Indian company.
It forms part of the objective of government to make Ghana the hub of vaccines manufacturing in Africa.
Speaking at the signing of the MoU in Accra on Tuesday, at the National Vaccine Institute, the Presidential Advisor on Health, Dr Nsiah Asare, said the production of the anti-snake venom would promote public health in the country.
He said snake bites were public health burden in the country.
The Presidential Advisor said as part of the Vaccine Roadmap developed by the country, the objective of government was to make Ghana the hub of vaccine manufacturing and export in Africa and the beginning of the production of anti-snake venom locally.
Dr Asare said “The production of vaccines locally is not a fluke, and the ready-to-fill anti-snake venom bulk is already in the country.”
The Chief Executive Officer of Atlantic Lifesciences, Dhananjay Tripathi, said the WHO considered snake bite as a neglected tropical disease that plagued the rural communities.
He said Pharmanova and Atlantic Lifesciences had played critical roles in importing anti-snake venom on behalf of the government, and that in 2017 his outfit considered the move to start local production of vaccines especially anti-snake serum.
Mr Tripathi said Ghana would be the first country in West Africa to produce and package anti-snake venom for local use and export.
The Executive Director of Vins Bioproducts Limited, Siddarth Daga, said his outfit was a leading producer of vaccines.
He said he was excited his outfit was collaborating with Atlantic Life sciences to produce anti-snake venom in Ghana.
The Graphic reports that there is an increasing incidence of malnutrition, poor child growth, micronutrient deficiencies, adult overweight and obesity in the country, the Director-General of the Ghana Health Service (GHS), Dr Patrick Kuma-Aboagye, has said.
He said wide disparities persisted in malnutrition rates across the regions, locations and wealth quintiles and, therefore, stressed the need for comprehensive interventions to address those complex and varied challenges.
“Wasting has unfortunately seen a concerning increase and high rates of anaemia persist among children, women and adolescents despite some recorded reductions.
“It is worth noting that in certain regions, rural areas and poor urban areas, the pace of reducing malnutrition, particularly anaemia and stunting, has been slow and uneven.
This challenge, compounded by the emerging problem of over-nutrition, indicates that the country is grappling with multiple facets of malnutrition,” the D-G said.
He, however, said some progress had been made in reducing underweight, anaemia and stunting in children, as well as improvement in early initiation of breastfeeding and exclusive breastfeeding rates.
Dr Kuma-Aboagye was speaking at a closeout event on advancing nutrition learning organised by the US Agency for International Development (USAID).
The project provides technical support to advance the government effort at improving planning and delivery of services to promote household resilience and early childhood growth and development in 55 districts across five regions.
The newspaper says that the Head, Conduct Supervision at the Bank of Ghana, Augustine Amoako Donkor, has emphasised the importance of seeking professional investment advice before making any investment decisions.
Speaking as a panelist at this year’s Financial Fair held at the University of Ghana Business School (UGBS), Mr Donkor explained that every investment had a certain level of risk, but an expert could help guide investors to understand their risk tolerance and what instruments to invest in.
The finance expert further explained that on paper, all investments have risk, but there are levels to the risk.
“Therefore, it is crucial for Ghanaians to seek professional advice before investing their hard-earned money.
Without proper advice, investors may end up making poor investment choices that could lead to significant financial losses,” he said.
Mr Donkor also urged Ghanaians to be cautious of fraudulent schemes that promised unrealistic returns on investments.
“Many people fall prey to these scams because they are not aware of the risks involved.
Therefore, investors should do their research and seek advice from reputable financial institutions or professionals,” he said.
The Financial Fair provided an excellent platform for the public to learn about different investment options and financial products available in the market.
The event featured various financial institutions and experts who shared their insights and knowledge with attendees.
GIK/APA