The Ghana National Chamber of Commerce and Industry (GNCCI) and the Council for Scientific and Industrial Research (CSIR) have signed a memorandum of understanding (MoU) in preparation for the launch of an industrial innovation fair later this year. The agreement outlined the activities and obligations of both parties for ensuring the successful launch of the Chamber-CSIR Industrial Innovation Fair on the theme: 'Addressing industrial needs through research and innovation.' The fair's objective is to create a platform for utilising the power of innovation and technology towards rapid industrial growth and resilience. Addressing the ceremony, Professor Paul Bosu, Director-General of CSIR, said the fair aimed to provide a high-level forum for engagement on science, technology, and innovation, as well as an opportunity for industry actors to engage with scientists and innovators. By collaborating with GNCCI, he said, 'We are not only seeking to partner with one company or industry, but we are seeking to formally partner with the whole range of industry players that we have in Ghana.' Under the deal, the chamber will mobilise its members, while financial institutions and other parties will provide financial and logistical support to establish an environment conducive to the participation of industrialists, researchers, and scientists. Prof. Bosu was ecstatic about the collaboration and optimistic about its success, stating, 'We will work hard to make sure it succeeds, so that CSIR, industry players, and, most importantly, Ghana will benefit.' He said that as Ghana's top science and technology research institution, CSIR had to work closely with the private sector. To do this, it has set up a number of centres or affiliates, such as CSIR Plus, a privately owned company that helps CSIR engage effectively with the private sector. The move aims at increasing the efficiency of conducting business by getting rid of unnecessary red tape, which is usually associated with the public sector. Thus, he said, 'We have set up two companies: Sircool Mineral Water and another company that specialises in the production of oil palm seed nuts.' This year alone, the Council has signed about four agreements with private sector organisations, demonstrating its enormous potential in terms of personnel, facilities, and scientists. Mr. Clement O. Amoako, President of the GNCCI, described the signing ceremony as memorable and commended the council for its willingness to collaborate with the chamber to organise the fair. He also commended the Accra chapter of GNCCI for its 'groundbreaking' initiative and challenged other regional chapters to follow suit. He noted that in today's swiftly changing world, where technology, globalisation, and digitization are reshaping economies, it was equally important for industries to adapt and embrace innovation. He further indicated that Ghana's industrial sector possesses enormous potential and that 'it is our responsibility to leverage it for sustainable growth, job creation, and overall economic prosperity.' Thus, he praised the deal as a crucial step towards bridging the gap between Ghana's industry demands and the enormous potential of research and innovation. 'By bridging the gap between industry and research, we can unlock unprecedented opportunity for growth and prosperity,' he added. The pact sets the way for organising a highly anticipated industrial innovation fair that will serve as a platform to stimulate cooperation, exhibit cutting-edge research, and accelerate the creation and adoption of innovative solutions that address the distinctive needs of Ghanaian industries. 'We aim to facilitate the transfer of research findings and technological advances into practical applications that directly address the challenges faced by industries,' Mr. Amoako said. 'As the voice of Ghanaian business, we are committed to fostering an environment that fosters innovation, encourages entrepreneurship, and promotes the development and competitiveness of our industry.' Ms. Benedicta Nkrumah-Boateng, CSIR's Head of Corporate Affairs, said that the expo was scheduled for November 2023 and highlighted some activities for the two-day event. The expo is aimed at policymakers, private sector players, research institutions, academic institutions, foreign partners, and the general public. ABSA Bank, Development Bank Ghana, and Exim Bank, among other renowned organizations' representatives, were at the MoU signing event.

Source: Ghana News Agency