He noted that the slow pace of economic emancipation and development, and the continual drop in the value of the Ghana Cedi could largely be associated with being over-dependent on foreign goods and services, which might not give any hope to the quest for economic independence and Ghana beyond Aid.
Mr Kwaw Ansah who chaired the inaugural lecture of the Maiden, “Esther Ocloo Memorial Lecture on African Entrepreneurship” suggested that the country emulated the shining African Heroine who turned numerous raw materials into finished goods.
“We urgently need to think along this line of industrialisation as a key panacea for restoring the continual fall of the cedi and the Ghanaian Economy,” he added.
Entrepreneur Esther Ocloo of blessed memory and the patent owner of the Nkulenu Brand was known in Africa and the World for her proven business successes in the area of manufacturing and banking.
After college, the late Esther Ocloo traded in simple marmalade she learnt from a home economics class to make ends meet in the streets of Accra.
The news of an Achimota girl selling on the streets of Accra reached the authorities of the Achimota College who later gave her a contract to supply the school.
She later secured a contract to supply the West African Frontier and that began her journey to world-class recognised business and manufacturing sprung after further studies in England.
The Nkulenu Industries Limited is 80 years this year.
Mrs Kosi Yankey -Ayeh, the Chief Executive Officer of the Ghana Enterprise Agency called for the need to highlight the achievement of great entrepreneurs in the country to inspire the present generation to venture into such areas to grow the economy.
She said the government was ready to assist interested and budding businesses to reach their full potential.
The government, she noted, had supported many businesses to bounce back from the COVID-19 shock intervention that had resuscitated many falling businesses.
Dr Charlotte Oduro Yeboah, the Director of the Food and Research at the Council for Scientific and Industrial Research noted the readiness of the Council to help Ghanaian manufacturers to do the right things to be able to compete in the international market
She said the Council had in place training programmes for individuals and groups to take advantage of.
Mr Steven Ocloo, the Managing Director of Nkulenu Industries and Son of Esther Ocloo touted how inspirational her mother had been to many generations of business owners.
He noted how her mother did not allow her humble background to defeat her life purposes and goals and perseverance had made her a global giant in the business.
Nkulenu was the first company to put jollof rice, ground nut soup, beans in dzomi, kontomire stew and Palm cream for soups in cans and Palm wines in bottles.
The company, which started with two employees in 1942, has grown into a company with a direct workforce of 100 workers.
Mr Ocloo described her mother as a noble icon and captain of industry …” she is a woman who began with nothing but has become a beacon of hope for all particularly who make great strides beginning from the village to the world.”