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Business News of Monday, 5 March 2018

Source: Myjoyonline.com

Kufuor appeals to government to partner private sector for development

Former president John Agyekum Kufuor is urging the government to partner the private sector in a manner that is mutually beneficial to unlock the wealth of the country for sustainable development.

According to him, this is the only way Ghana can delink itself as a highly import-dependent country.

In his view, reducing high-interest rates and other economic indices that make it hard for private business to thrive in the country will whittle down the lofty unemployment rate in the country.

This he also said will encourage emerging and established entrepreneurs to operate without hindrances and inject more money into the economy by growing more businesses that will create employment opportunities for others.

Former President J.A Kufuor was speaking in Accra at the launch of 2017 edition of the "Lifetime in a Portrait Awards” by Change Initiators Foundation.

"...Raw material export without diversification and value addition will not do Ghana any good. If we create the enabling environment for the public and Private sector to add value to our raw materials, the country will make money and more jobs will be created," said former President Kufuor.

Former president Kufuor believes that the more the private sector is empowered to do business, the more revenue the country will generate to undertake its projects without overly relying on foreign aids.

He also lauded the "Ghana Beyond Aid" agenda being pursued by President Nana Akuffo-Addo.

The Change Initiators Foundation is a not-for-profit organization established in 2001 with the objective of empowering, creating opportunities for business start-ups as well as honouring distinguished entrepreneurs whose activities have made Ghana an enviable business destination.

The honorees of the 2017 edition of the 'Lifetime in a Portrait Awards include the Chief Executive officers of the McDan Group of Companies, Golden Group of Companies, Linda Dor Group of Companies, Golden Beam International School among others.

Each of the awardees received a magazine that chronicles their journey to becoming extraordinary entrepreneurs. This according to the organizers, is to inspire emerging entrepreneurs in the pursuit of their dreams.

The Lifetime in a Portrait Awards is organized every year by the Change Initiators Foundation and it honours businesses in manufacturing, pharmaceuticals, real estate, waste management, freight forwarding, building and construction, innovation and creativity among others.