Business News of Thursday, 7 February 2013
Source: Daily Guide
The Deputy Chief Executive Officer (CEO) of Ghana Trade Fair Company Limited (GTF), Nana Kwame Ofori-Amanfo, has stated that the company will fall on banks in the country to bail it out of its financial mess if other avenues fail to succeed.
The company recently sent an SOS message to the Ministry of Finance and Economic Planning (MOFEP) for assistance.
The company’s accounts have been garnisheed by the courts but its lawyers are currently in court to overturn that ruling, Nana Ofori-Amanfo explained.
“There is a positive response from the MOFEP. Since there is a new Minister, I am sure the ministry is currently working on the budget for Ghana.
In the worst scenario, we will fall on the banks to grant us loans so we can clear our debts but the Ministry’s response is a positive one,” Mr Ofori-Amanfo revealed in an interview CITY & BUSINESS GUIDE.
The Deputy CEO pointed out that the even though the company was indebted, it was not highly indebted as portrayed by the media.
“We are indebted but not highly indebted like you people are saying. We still have some money we can use in managing this company,” Mr Ofori-Amanfo said.
At an event to launch the 17th Ghana International Trade Fair yesterday, management of the company said it had invested over GHC250,000 to run promotions, carried out renovation works and put in place reliable security, amongst others to ensure that this year’s International Trade Fair, themed: “Trade and Industry, Heralding Ghana’s Economic Growth” becomes a success.
The Deputy CEO hinted that the fair will host over 450 exhibitors from around the world.
He therefore pleaded with the general public to patronize the event just like other entertainment events on Trade Fair grounds.
Noting that there would be numerous foreign exhibitors at this year’s event, he called on local exhibitors to quickly register in order to secure a place.