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Business News of Thursday, 15 June 2017


Chamber of Commerce readies for US$50m stimulus package

The President of the GNCC, Nana Dr. Appiagyei Dankawoso I play videoThe President of the GNCC, Nana Dr. Appiagyei Dankawoso I

The Ghana National Chamber of Commerce (GNCC) has welcomed government’s plan to disburse some US$50 million dollars as stimulus package for over 300 distressed indigenous companies this month.

The President of the GNCC, Nana Dr. Appiagyei Dankawoso I, in an interview with the B&FT on the sidelines of the launch of the maiden edition of the Chamber Business Awards at the Alisa Hotel, said: “The Ministry first consulted us to come up with list of companies that are viable but are distressed and so in response, we sent the list and we are aware that, some of the companies are being considered in the bailout package if you will call it. We see it as a very important and viable move because, to move to the unknown to the known where there is help is very important for us.”

“Now that there is hope for companies that are good, can be expanded and put back to operation. Remember that some of these companies though are good as I said don’t have the finances and other related logistics and that is why this package has come at an opportune time,” he added.

He advised management and owners of the beneficiary companies to make judicious use of the funds and ensure that their companies are revived and expanded to create more jobs.

Launch of Chamber Business Awards 2016

The maiden edition of the Chamber Business Awards is expected to take place at the State Banquet Hall in Accra on November 25, 2017. The event is to be held under the theme: “Enterprises in Transition: Recognising Innovative Businesses in Ghana”.

The event forms part of the GNCC’s effort to foster ethical practices and promote businesses that have demonstrated excellence in leadership and innovation in contributing to the socio-economic development of Ghana.

It is also to acknowledge and celebrate key businesses and personalities who have contributed meaningfully to business practice in Ghana, to inspire and promote the entrepreneurial spirit in the Ghanaian by highlighting the success stories of outstanding award winners while unearthing the depth of existing talents in the country.

Launching the awards ceremony, Dawarnoba Baeka, the Chief Director of the Ministry of Trade and Industry, who represented the Minister Alan Kyeremanteng, said the timing for the awards was opportune as there was high optimism and renewed hope that the private sector would achieve significant and sustainable growth.

“This, we believe, will ensure an enabling business environment critical for private sector competitiveness. Ultimately, we look forward to making Ghana the most business-friendly and people-friendly economy in Africa,” Baeka.

He commended the GNCC for the move and pledged the ministry’s commitment to partner and support the Chamber to promote private sector growth, adding: “It is my hope that the Chamber Business Awards will encourage businesses to be innovative and stay competitive while adhering to best business practices”.

The criteria for selection of award winners includes: a company’s annual turnover, profit and tax compliance, thought leadership engagements, innovation and technology, customer service schemes, employment creation and people management, corporate social responsibility, environment management and corporate reputation management. Nominations for the awards closes on July 7, 2017.

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