The Customer Development Director of Unilever Ghana has painted a picture of hope for 2010, saying the year holds a lot of promise for businesses.
Kwaku Boateng acknowledged 2009 as a challenging year in the company's business, partly due to the change in government and the credit squeeze resulting from the global financial and economic crisis.
He however says internal and external environmental factors are pointing in the right direction for Unilever's business prospects for 2010.
He alluded to three major economic indicators which according to him place businesses in a good position to be productive in 2010 – including increase in forex inflows, high access to credit and reduction in inflation which he says is good for planning.
Mr. Boateng was speaking at Unilever Ghana's 2009 Distributor' Awards event in Kumasi under the theme: “Winning at the Market Place”.
He observed “high number of return cheques, increased tariffs and high fuel cost increased operational cost for 2009”. The Unilever CDD however says the promise of stability with growth in the 2010 Budget should be good news, as he expects “a more favorable external environment, especially in the banking sector, would be experienced this year”.
He added that Ghana's attainment of oil producer status will be a major structure shift in the country's economy. “It is expected that the earnings from the oil sector will help support the country's currency, open up more economic activities for Ghanaians and increase government's revenue. The total effects of all these should be greater confidence and spending power for consumers and therefore lead to greater growth in our businesses”, Mr. Boateng observed.
The company had earlier held discussions with its partners on strategies to win competition in the market place.
Unilever pledged to relook at its terms of trade to leverage all its resources to deliver optimum results this year. The company will also work at improving current relationship between the company and its partners, wholesalers and retailers.
Story by Kofi Adu Domfeh
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