You are here: HomeNews2016 09 27Article 472824

General News of Tuesday, 27 September 2016

Source: citifmonline.com

Ghanaians afraid to invest in ‘bad economy’ – Nana Addo

The Flag bearer of the opposition New Patriotic Party (NPP), Nana Akufo Addo, has said a lot of Ghanaian and foreign investors are afraid to invest in Ghana because of what he describes as the unfriendly business environment.

“We don’t have good policies that will attract money into the economy, that will bring investments into Ghana. Ghanaians who have money today, they are hiding it because business environment is not good for them,” Nana Addo said.

Speaking to chiefs in the Greater Accra Region, Nana Addo said the situation has contributed to the ballooning unemployment figures in the country.

Nana Addo therefore appealed to Ghanaians to “bring their money out” to create the enabling environment for businesses to flourish.

“We want them to bring their money out. We want foreigners to bring their money into Ghana so that we can create jobs and get this economy moving again. This is where we stand. NPP is a business party.”

Investors freezing investment into Ghana In April 2016, some foreign investors abandoned their investment plans for Ghana over what they described as lazy attitude by some workers in both the private and public institutions. The Minister of Trade and Industry, Dr. Ekow Spio Gabrah ,who confirmed the development to Citi Business News said the lack of urgency among workers is turning away investors and making Ghana lose trade opportunities.

“Entrepreneurship development requires an environment that makes people profitable. We are talking about profit as a major development of entrepreneurs and this requires policies that provide for an enabling environment that is supportive of entrepreneurs.

“But unfortunately in this country, most of the public and civil servants have not run any business before, not even managed a pay roll where they are paying 5 to 10 or 15 people a month and so they are very insensitive to many needs of business and entrepreneurs where time is money,” he said.