Private sector conditions becoming conducive to business - Kufuor

Accra, Feb. 8, GNA - President John Agyekum Kufuor said on Thursday that conditions within the private sector were becoming more conducive to business for various reasons.

In his sessional address to the Parliament, he said six years ago, government sounded ambitious when it announced the policy to make the private sector the main engine for economic growth. This was due to the seemingly intractable problems, which had made the sector unattractive to many an otherwise potential entrepreneur. However, the President said the sector had improved as a result of stabilising macro-economy and an improved public/private sector partnership, which was expected to be enhanced further through the on-going public sector reforms.

President Kufuor said the Venture Capital Fund/Medium and Small Scale Loans Scheme were being invigorated further through the provision of various forms of funding.

For instance, he said, the Micro-Credit and Small Loans Scheme (MASLOC) had offices in all the regional capitals and was in the process of establishing 345 sub-district desks to make their services easily accessible to potential beneficiaries.

"Government is considering setting up an apex authority to oversee the administration of all these funds to ensure efficient and focussed implementation. The objective is to empower the Private Sector further", he added.