Vice President Dr. Mahamadu Bawumia has announced plans to launch an initiative aimed at strengthening Ghana’s pharmaceutical industry through a dedicated fund arrangement.
This initiative was revealed during a meeting with members of the Pharmaceutical Society of Ghana, where Dr. Bawumia emphasized the importance of supporting local drug manufacturers to reduce reliance on imports.
As part of his commitment to enhancing the sector’s capabilities, particularly if elected president in the upcoming December polls, Dr. Bawumia highlighted the necessity for a specialized financial institution to facilitate this endeavor.
He articulated his vision for positioning Ghana as a regional manufacturing hub in the pharmaceutical sector and stressed the significance of allocating adequate financial resources to achieve this goal.
Dr. Bawumia who is the flagbearer of the governing New Patriotic Party (NPP) in the 2024 upcoming general elections emphasized the potential benefits of leveraging Ghana’s comparative advantages in the pharmaceutical sector, emphasizing the need for a financial institution that comprehends the intricacies of the industry to support the initiative effectively.
His proposed plan aims to not only strengthen the local pharmaceutical industry but also to generate significant economic benefits for Ghana by capitalizing on its comparative advantages in this sector.
Overall, Dr. Bawumia’s announcement underscores the government’s commitment to fostering domestic pharmaceutical production and reducing dependency on imports.
Onokwafo Yaw Asiedu/Ahotoronline.com
