{"id":187230,"date":"2024-06-05T16:43:22","date_gmt":"2024-06-05T16:43:22","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/05\/agi-endorses-ghana-going-nuclear-calls-for-macroeconomic-stability\/"},"modified":"2024-06-05T16:43:22","modified_gmt":"2024-06-05T16:43:22","slug":"agi-endorses-ghana-going-nuclear-calls-for-macroeconomic-stability","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/05\/agi-endorses-ghana-going-nuclear-calls-for-macroeconomic-stability\/","title":{"rendered":"AGI endorses Ghana going nuclear, calls for macroeconomic stability \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Association of Ghana Industries (AGI), the umbrella body of manufacturing companies in the country, has endorsed Ghana adding nuclear power to its energy mix.<\/p>\n<p>However, the Association, has called on the government to ensure a stable macroeconomic environment to enable industries participate fully, and benefit from the country\u2019s nuclear power programme.<\/p>\n<p>Ghana is expected to establish its first nuclear power plant by 2030 to contribute about five per cent to the country\u2019s energy mix by that time and increase to 35 per cent by 2070.<\/p>\n<p>Among others, nuclear power is to ensure energy security, help meet electricity generation demands, contribute to low carbon emission, and support Ghana\u2019s industrialisation agenda, while creating jobs in the value chain.<\/p>\n<p>To achieve this, Seth Twum-Akwaboah, the Chief Executive Officer (CEO), of the Association, said Ghana required a stable macroeconomy, which would make industry thrive.<\/p>\n<p>He said this in an exclusive interview with the Ghana News Agency on Tuesday, June 4, on the margins of the opening day of a three-day workshop for some reporters and editors in Accra.<\/p>\n<p>The workshop was on the theme: \u201cMedia support for Ghana\u2019s Nuclear Power Project \u2013 the journey so far.\u201d<\/p>\n<p>Mr Twum-Akwaboah explained that with hydro continually dwindling and thermal being expensive and recurrent power fluctuations, it was important for<\/p>\n<p>Ghana to have a secure, reliable, affordable, green and clean baseload, which nuclear energy could provide.<\/p>\n<p>\u201cToday, industries are struggling in several areas; for the nuclear power project, if we don\u2019t have the capacity to acquire new technology and advance in ICT, and new machines, then, your capacity to even partner is weakened,\u201d he said.<\/p>\n<p>\u201cTherefore, it\u2019s very important for the environment to be conducive by stabilising the macroeconomy,\u201d Mr Twum-Akwaboah, said, adding that it was important to make industries ready in terms of technology, funding, and capacity building.<\/p>\n<p>\u201cIn all these, industries must be strong, and that would require that a conducive macroeconomic, so that when you invest, you get good returns, and be able to expand,\u201d he said.<\/p>\n<p>He said the government\u2019s support in creating a conducive environment was crucial because industries had no control over external factors, including inflationary pressures, high cost of borrowing, and electricity.<\/p>\n<p>\u201cThose are the critical areas that the government must work on. There are some external factors, but whatever it is, efforts must be made to stabilise it in a way that encourages investment with a good return on it,\u201d he encouraged.<\/p>\n<p>Mr Franklin Addai, Head, Legal Department, Bui Power Authority (BPA), who is also the Secretary to the Nuclear Power Ghana (NPG), called for a good blend between exercising right to information, disclosure and transparency, among all stakeholders, especially, implementers of the nuclear power project and the media.<\/p>\n<p>\u201cThe media should not be in the dark and leave room for speculation; the implementer must disclose fully, information that will not hurt the programme,\u201d Mr Addai said.<\/p>\n<p>Dr Stephen Yamoah, Executive Director, NPG, highlighted the gains made since media professionals were trained on nuclear power about three years ago.<\/p>\n<p>He observed that there had been some improvement in media discourse on nuclear, including improved public education in demystifying misconceptions, and building public trust in nuclear.<\/p>\n<p><strong>Source:\u00a0<\/strong>GNA<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Association of Ghana Industries (AGI), the umbrella body of manufacturing companies in the country, has endorsed Ghana adding nuclear power to its energy mix. However, the Association, has called on the government to ensure a stable macroeconomic environment to enable industries participate fully, and benefit from the country\u2019s nuclear power programme. Ghana is expected [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":187231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-187230","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AGI endorses Ghana going nuclear, calls for macroeconomic stability \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/05\/agi-endorses-ghana-going-nuclear-calls-for-macroeconomic-stability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AGI endorses Ghana going nuclear, calls for macroeconomic stability \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Association of Ghana Industries (AGI), the umbrella body of manufacturing companies in the country, has endorsed Ghana adding nuclear power to its energy mix. 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