Ghana’s
private sector cannot promote employment creation and slow the rate of unemployment
if businesses do not have the capacity to borrow, expand and retool, says Terence
Darko, President of the Ghana Employers Association (GEA).
According
to him, employer-employee relation is no longer the most serious issue in improving
Ghana’s business environment, but access to and cost of credit for businesses
to achieve their objectives.
“Many
businesses are suffering because the cost of borrowing is such that they are
unable to go for the loans and facilities that will help them expand and retool
their businesses”, Mr. Darko told a business forum in Kumasi.
He
said the Association is working with the banks and the Finance Ministry to “make
sure that interest rates are reduced to the barest minimum so that businesses
can borrow and expand”.
The
GEA also expects the government to be committed to addressing challenges stifling
business growth, including unstable utility services, influx of counterfeit
goods on the market and poor physical infrastructural development, which he
noted adds to the cost of production.
The
Association has provided a platform for business interest groups in the Ashanti
region to brainstorm on removing bottlenecks that impede business success and
enterprise sustainability.
Mr.
Darko said the GEA is liaising with other trade associations for a proposal to
have representation at the various local assemblies, in order to engage the
assemblies on laws and regulations that impede business growth.
Regional
Chairman of the Association, Dr. Kwaku Adu Aninkora, stated that professional
training for employees is being promoted to curtail poor work attitude and unhealthy
cultural practices that hinder productivity at the workplace.
Story
by Kofi Adu Domfeh
No comments:
Post a Comment