Anthony Adu-Nketiah
PRESIDENT AKUFO-Addo’s government has been urged to put in place strategic measures to re-instill confidence in the Ghanaian local businesses to enable them to create employment opportunities for the youth.
Anthony Adu-Nketiah, Chief Executive of Thonket Group of Companies in Kumasi who said this was of the view that the prevailing harsh economic conditions in the country have undermined the hopes of businesses.
He, therefore, called for the revitalisation of the strength of the Ghanaian economy despite the impact of global challenges.
“Confidence should be instilled in businesses in such a way that we cannot say that there is Ukraine-Russia war or COVID-19 pandemic,” he said.
The businessman who was speaking to the media recently noted that the economic problems facing the country currently demanded that government focused on injecting zeal in local businesses to help them succeed.
“All that we need to do is to ensure that we let businesses work in a framework like a football situation where players get disciplined immediately they commit offences on the field of play instead of waiting after the match,” he stated.
He observed that if this principle is upheld in the country, businesses will know that wrong decisions taken attract severe sanctions, thereby promoting best business practices to achieve growth and development.
Mr. Adu-Nketiah maintained that the critical problem facing the country is unemployment, which can be solved through creating conducive atmosphere for these small businesses to thrive.
According to him, he has challenges with financial incentives given to businesses, considering the leakages in the operations of local businesses, leading to the collapse of local banks despite Bank of Ghana’s support.
He ruled out financial bailout as a solution for local businesses in Ghana, insisting that the best solution is best management practices that are harmonised and made to encompass all businesses.
“By this we can compare and know who is performing well and who is not performing and the reasons why they are not performing and how we can bring them up,” he said.
FROM James Quansah, Kumasi