“GIISDEC Takes Bold Step to Formalize Scrap Sector and Boost Iron and Steel Industry”
"GIISDEC Takes Bold Step to Formalize Scrap Sector and Boost Iron and Steel Industry"
“Ghana Integrated Iron and Steel Development Corporation Seeks to Formalize Scrap Sector”
The Ghana Integrated Iron and Steel Development Corporation (GIISDEC) has embarked on an initiative to formalize the scrap sector in Ghana. The CEO, Williams Okofo-Dateh, has been engaging with scrap dealers and steel millers to listen to their challenges and find ways to promote the iron and steel industry.
The scrap sector in Ghana is currently unregulated, with scrap dealers operating without licenses and facing numerous challenges, including harassment by the police. The sector is also plagued by accusations of theft and environmental degradation.
The GIISDEC aims to formalize the scrap sector by introducing a licensing system. This will enable the government to know the operators in the sector and provide support to help them work effectively. The corporation has been engaging with scrap dealers and steel millers to gather information and make input into the formalization process.
Formalizing the scrap sector is expected to have several benefits, including improved regulation, increased support, and environmental benefits. The licensing system will enable the government to regulate the sector and prevent illegal activities.
The government will also be able to provide support to scrap dealers and steel millers, including fair prices for their goods. Additionally, formalization will help to reduce environmental degradation and promote sustainable practices in the sector.
The GIISDEC will continue to engage with scrap dealers and steel millers to gather more information and develop a framework for formalizing the sector.
The corporation aims to work with the government to develop policies that will support the growth of the iron and steel industry. By formalizing the scrap sector, the GIISDEC hopes to promote the development of the iron and steel industry in Ghana and contribute to the country’s economic growth.
Story by Fada Amakye from Daily Sun online
