Informal Sector Lacks Capacity To Play Active Role - Finance Official

Accra,(Greater Accra) Oct. 24 A major problem facing the informal sector is the lack of capacity to play the envisaged role in the nation's development. It is for this reason that the government is supporting the private sector to create an enabling environment for businesses and introducing initiatives to enhance the capacity of the sector. Mr Emmanuel Darko of the International Economic Relations Division of the Ministry of Finance said this at the closing ceremony of an 11-day business and financial management training course, organized by Women's World Banking Ghana (WWBG) in Accra. Thirty-three participants, including aspiring entrepreneurs and traders, attended the course, sponsored by the World Bank through the Bank of Ghana They were taken through banking procedures, costing and pricing, financial management, business management, customer relations, marketing and project cycle. Mr Darko hoped that the participants will not only be able to manage their businesses effectively but also expand them and employ more people. Mrs Adelaide Adubah, general manager of the WWBG, appealed to financial institutions and other organizations to sponsor similar courses so that more traders and entrepreneurs could be trained. She said this is because a survey has revealed that most people in business today lack basic skills in business management, hence their inability to contribute towards the development of the economy.