Financiers and businessmen hold dialogue

Accra (Greater Accra) 23 July '99

The business community on Thursday expressed concern about the difficulties in accessing long term credit in Ghana.

One factor militating against business growth is the fact that various companies and financial institutions do not have a common platform to source what the other has to offer, Mr Reuben Coffie, Market, Trade and Investment Operations Officer of

Ghana National Chamber of Commerce and Industry (GNCCI) said at a forum between businessmen and financiers in Accra.

"As a result, most people do not know what is happening in the sector and what the other is doing".

The forum discussing ways of financing companies, representatives of the business community said the difficulties in getting long term credit is a major obstacle to their expansion.

Forty participants are attending the two-day meeting, which is the first ever, business and finance sector partnership programme to be organised by the (GNCCI). It is under the theme "Finance and Business Dialogue".

It aims at creating a platform for the various players in industry, especially in agro-processing, exporters, importers and financiers to find out how best they can source funding for their businesses.

Mr Coffie said the GNCCI will, after the meeting, compile information on products of the companies and where to source funding and improve upon their relations.

Mr Ato Ampiah, President of GNCCI, told participants to be principled in their dealings, especially in time management, saying, "at a period when interest rates are so high, there is no time to waste".