Mike Nyinaku
Mike Nyinaku, Chief Executive Officer (CEO) of The BEIGE Group (TBG), a financial services provider, has called on entrepreneurs to take advantage of opportunities in this year’s budget.
Mr. Nyinaku expressed confidence that the 2017 financial plan can help businesses to thrive.
The CEO, who founded The BEIGE Group, one of the leading financial institutions in the country in 2008, said the 2017 budget would motivate entrepreneurs.
According to him, 2017 would be a foundation building year towards the long-term growth and development of the country, adding, “This is a crazy but ambitious way to go as a country. The Entrepreneur Man of the year for 2016 hinted that there is opportunity for everyone in the budget.
There is also the need to continuously explore ways of expanding the economy to propel more Ghanaian businesses to become global champions, as well as help lift the majority of the population above poverty.
Touching on the success story of The BEIGE Group, which has subsidiaries in banking, pensions, insurance and investment, Mr Nyinaku said his outfit has been able to adapt and customise international credit delivery approaches to suit the unique circumstances of Ghana’s formal and informal sectors.
He expressed the willingness of BEIGE to partner other stakeholders on any potential partnership that would inure to the benefit of the economy.
Dubbed ‘Sowing the seeds for growth and jobs,’ the 2017 Budget, which was delivered earlier this month, among others, seeks to abolish the 1 percent Special Import Levy, 17.5 percent VAT/NHIL on financial services and 17.5 percent VAT/NHIL on selected imported medicines that are not produced locally.
Other initiatives, which are expected to boost entrepreneurship, include ‘One Village One Dam’ policy targeting small to medium-scale irrigation schemes to be identified and rehabilitated, while the “One District One Factory” initiative would also be implemented to ensure an even spatial spread of industries.
Mr. Nyinaku advised Ghanaians to rise up to the occasion by creating enduring ideas that can become business giants in the near future.
TBG’s evolution, when completed, will see every BEIGE office become a one-stop shop for banking, pensions, insurance and investment products and solutions.