The Chief Executive Officer of Ghana Free Zones Authority, Michael Okyere Baafi, has disclosed that businesses under its fold are gearing up massively to take advantage of the continent-wide market.
A clear demonstration of this commitment, according to him, is the planned construction of what they deem to be the biggest industrial park in West Africa.
“We are preparing to come up with the biggest industrial park in West Africa. It is going to be the Greater Kumasi industrial park. From Boankra downwards, in the Ejisu traditional area. It would sit on 5000 acres of land,” he disclosed in an interaction with the GPHA’s Eye on Port.
The free zones boss said there are around 185 active companies working in the free zone and the arrangement with the state is for a minimum of 70% of their produce to be exported while the remainder could be used for the domestic market.
Meanwhile, Mr. Baafi has said his outfit is currently clamping down on companies who try to circumvent and take undue advantage of the free zones system.
“Some companies have flouted the tenets of the Act that regulates the free zones. They cannot go scot-free so we are revoking licenses,” he stated.
He also played down public perception that government’s incentives to its member companies appear too extreme, especially considering the position of the economy.
“We should have in mind that free zone incentives cannot collapse the country. They have not collapsed other countries. It has only improved countries,” he opined.