Following Ghana's independence in 1957, the Nkrumah government embarked on an industrialization drive that saw manufacturing's share of GDP grow from 10% in 1960 to 14% in 1970. This growth resulted in the establishment of a diverse range of industrial enterprises, the most notable of which are the Volta Aluminum Company (Valco) smelter, sawmills and timber processing plants, and cocoa processing plants.
Breweries, cement plants, oil refineries, textile mills, and car assembly plants are only a few examples. However, many of these companies were only able to survive because of government security. In the state sector, shortages of raw materials and spare parts, as well as inadequate maintenance management practices, led to inflation from 1970 to 1977, then a downturn from 1977 to 1982.
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