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27.07.2004 Business & Finance

Bad and doubtful debts ruining Commercial banks

By GNA
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Ho, July 27, GNA - Mr Kwamena Cobbah, Deputy Country Director of Technoserve, a non-governmental organisation, has noted that the country's commercial banks, were burdened with "bad and doubtful" debts, totalling 458 billion cedis in 2003.

"The nation has also had a fair share of the pain by having to create jobs for "sleeping entrepreneurs," he said at the opening of an 8-day Business Skills for Youth Programme.

The workshop dubbed: Biz Camp was organised by Technoserve for 35 young entrepreneurs from the Central and Volta Regions. The Biz Camp seeks to promote competition among young entrepreneurs under the Technoserve/ National Foundation for Teaching Entrepreneurship (NFTE) programme which is being funded by the United States Agency for International Development (USAID).

Mr Cobbah said: "We believe that one of the keys to a rapid GDP growth, is through value addition and investment in people through education and training."

Out of the eight business plans presented at the workshop, that of Mr Fifii Hope Amamoh of the Vision Palm Processing of Cape-Coast, was adjudged the best. The business plans of Mr Samuel Mortey, of Volta Shrimp at Kpeve and Mr Philip Tagbotor, a mango farmer, were also accepted.

They would compete at the national level against their counterparts from the northern sector in November, this year.

Miss Shika Acolatse, Business Advisor of Technoserve, told newsmen that the young entrepreneurs would be linked to financial institutions for assistance.

Mr Michael Nyarko-Ampem, Managing Director of Yadana Poultry Products, in the Central Region who was among the national best young entrepreneurs in 2003, said the application of the lessons from the previous programme had led to the growth of his business.

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