BUSAC Fund not working capital for private entrepreneurs

The Business Sector Advocacy Challenge (BUSAC) Fund Manager, Mr Nicolas Gebara has emphasized that the fund was not set up as a working capital for private sector businesses.

He explained that BUSAC was set up purposely to provide grants for private businesses to undertake advocacy actions and contribute to the improvement in the business environment.

Mr Gebara made this known at the opening ceremony of a two-day sensitization workshop for public sector officials in Brong-Ahafo. The workshop was attended by Municipal and District Coordinating Directors and some Heads of Departments and was aimed at sensitization participants on the activities of BUSAC in the region.

Mr Gebara stated that as a developing country, the role of the private sector to the growth of the Ghanaian economy was important, and indicated that they should help remove bottlenecks and hindrances so that the private sector could grow, produce goods and services in order to pay adequate taxes to the government.

He noted that the private sector is a key to local economic development adding that, the sector is also a source of income generation that would be stabilized for the local community in terms of securing jobs and offering employment opportunities for the upcoming generation.

The BUSAC Fund Manager added that the public and private sectors needed to create a common platform that would bring together the parties to establish a constructive dialogue and mutual understanding on economic development issues.