The Managing Partner of Konfidants, Michael Kottoh, has emphasised the need for Ghanaian manufacturing companies to tap into the opportunities presented by the COVID-19 in the disruption of the global supply chain of essential items.
Speaking on the first day of the on-air series of the 2020 Citi Business Festival, Mr Kottoh was hopeful Ghana can capitalize on the opportunities and eventually expand its supplies to other countries within the West African sub-region.
He also warned against reliance on supply chains beyond Ghana’s borders.
“Experts everywhere in the industry and government have come to a new consensus that it is dangerous to be over-reliant on distance supply chains such that when there is a national crisis you can’t respond and therefore [to be self-reliant] there is an argument that [there ought to be] localized local supplies as much as possible especially around a certain aspect of sensitive goods that you cannot [do away with]. So there is a disruption in this dominant logic which has ruled for the world for over 30 years.”
He also noted that the growing demand for locally produced goods due to the development will require that businesses adjust their models to suit the changing trend.
Mr Kottoh was speaking on the topic “The Temporary Window, Speed and the Old Normal – Opportunities and Transformation in the age of COVID-19”.
You can listen to his full presentation below.