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17.04.2008 Business & Finance

AGI, flag bearers clash over business growth drive

By GNA


The Association of Ghana Industries (AGI) will engage the flag bearers of the various political parties vying for the 2008 Election in a discussion to find out their policies towards sustaining the growth and development of the private sector in the country.

Each of the flag bearers will also be made to sign a memorandum of understanding with the AGI to indicate their resolution to implement such policies in case they win power.

Nana Asante Frimpong, Ashanti Regional Chairman of association, announced these at the Ashanti Regional launch of the Micro, Small and Medium Scale (MSME) Project in Kumasi on Wednesday.
He said the forum would also offer the AGI an opportunity to hold whoever would win the elections accountable to his or her promises.

Nana Frimpong said politicians had over the years paid lip-service to the growth and development of the private sector and the AGI was now committed to ensuring that politicians took concrete steps to promote the private sector.

He said the country's low economic development was due to the lack of political will and interference, as well as the inability of the country to harness the entrepreneurial skills of the people.

Nana Frimpong said it was time Ghanaians ensured that politicians honoured their promises towards the growth and development of the private sector, which had been touted as the engine of growth.

Mrs Gifty Ohene-Konadu, deputy Minister of Trade, Industry, Private Sector Development and President Special Initiative, said government realised that the MSMEs sector was imperative for achieving the growth and poverty reduction goals set for the country.

She said assistance to the MSMEs sector would help transform the economy of Ghana from a low income to a middle income economy by 2015.

Mrs Ohene-Konadu called on small scale entrepreneurs to take advantage of the project and explore other avenues to increase their output.

Mr Emmanuel Asamoah Owusu-Ansah, Ashanti Regional Minister, in a speech read on his behalf, said there was the need to device effective strategies to eliminate problems facing the MSMEs, which formed about 90 per cent of registered businesses in the country.

Mr Abrah Appiah, Access to Finance Manager of the Project, said the scheme had proved successful in ten countries throughout the world and appealed to all stakeholders to take advantage of it and expand their businesses.

The 118.90-million-dollar project, which was initiated by the Ghana government with support from the World Bank, would provide essential financial and technical support to enhance the development of medium and small scale enterprises in the country.

It also aims at providing easy access to markets, provide advisory services to MSME's, improve technology, infrastructure and entrepreneurship development of MSMEs.

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