:: Economy
Sekondi - Takoradi is one of the hubs of industrial activities in Ghana. It is the third most industrialized city in the country. The city can boast of some of the big manufacturing industries in the country. However commerce continue to be the dominant sector of the economy, to make the economy more vibrant, various measures are being put in place to attract investment both local and foreign. They include the expansion of the infrastructure base of the city.
Another important area is the development of the Export Processing Zone to promote processing and manufacturing of goods and to encourage the development of commercial activities.Just as the national economy, the local economy was quite small and fragile with 33% of the population engaged in buying and selling. This structure was expected to be reversed to provide the opportunity for agriculture sector to grow by 5% by 2004 and beyond leading to a domination of the economy by the agriculture sector. Even though the growth rate of the national economy had hit the 6% mark by the end of 2005, agricultural production is still lacking behind. Thus buying and selling still dominates the economy with 30% still engaged in the sector followed by agriculture 20%, Manufacturing 18% and social services 18%.A large and growing population of skilled and semiskilled persons that provide bases and market for a wide range of higher order goods and services.
These and other functions make Sekondi Takoradi "tick" and provide Western Region of Ghana with a bright and magnetic economic climate, the hegemony and growth of the Lagos area appear well assured into the future. What policy makers may worry about is how to manage, sustain and further the processes.The Western Region is the richest in forest resources and therefore timber logging and processing of wood related products constitute an important economic activity.Prime wood, Past timbers, Stanwood, John Bitar, Rad Forest Product Company are the timber processing companies in the Metropolis, producing Lumber, Veneer, plywood and knockdown furniture mainly for export.
Currently, only 5% of the wood waste generated annually is used for fire boilers. There exists an estimated 42, 000 metric tonnes of sawdust and off cuts to be recycled for further use.
New timber species Offram, Avodar, Ohaa, Esia, Wawa, Bima, and Potrodum can all be used to produce furniture and for the construction industry.Sekondi - Takoradi is one of the hubs of industrial activities in Ghana. It is the third most industrialized city in the country. The city can boast of some of the big manufacturing industries in the country. However commerce continue to be the dominant sector of the economy, to make the economy more vibrant, various measures are being put in place to attract investment both local and foreign. They include the expansion of the infrastructure base of the city.The analyses of current socio-economic situation was based on the three main thematic areas under the Growth and poverty Reduction Strategy II ( GPRS II) namely;
- Private Sector Competitiveness
- Human Resource Development
- Good Governance and Civic Responsibility
Private Sector Competitiveness The development of a strong economy depends on a competitive private sector which regarded as the engine of growth. The Growth and Poverty Reduction Strategy II (2006-2009) seeks to address a number of structural constraints at the policy and institutional levels that hamper private-sector competitiveness in the agriculture sector in the medium term and industrial and other sectors in the long term.
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About Sekondi Takoradi : The tremendous growth of Sekondi-Takoradi was not achieved overnight. It has had its ups...
Business Climate:The Western Region is the richest in forest resources and therefore timber logging and processing of wood related products constitute an important economic activity.Prime wood...
Western Region : The Western Region covers an area of approximately 21,391 square kilometres, which is about 10 per cent of Ghana’s total land area. The region has about 75...
Tourist Attractions : The Western Region is endowed with rich natural resources and potential tourism assets, something which makes it a major tourist attraction...
