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Business News of Tuesday, 8 August 2017


Ghanaian businesses are not stable – Dr Joseph Agyepong

Executive Chairman of the Jospong Group of Companies, Dr Joseph Siaw Agyepong has called on the government to direct its attention to the private sector and create a conducive environment for local businesses to survive in the country.

He asserts that Ghanaian businesses usually lose out to foreign ones when they put in their tender for a contract because the tenders from the foreign businesses are seen to be cheaper than the local.

Speaking at the Ghana Economic Forum, Dr Agyepong who owns over 40 businesses in Ghana stated at that he ventures into several businesses because “there is no business in Ghana that is stable, your business can die as quickly as just a day”.

The government and policy makers, according to him, need to help the local businesses grow so they can afford the needed equipment to help reduce their charges stating that “we have to make the private sector our own else we can have millions of reforms and reforms still it will yield nothing”.

He believes the influx of imports is a blockage to the growth of local businesses.

“You are having a serious competition from a country, other foreigners, other competitors, who are coming in and competing your business. You go to tender and the tender says that you must have a five-year experience … it tells you that don’t start it, don’t get there, you’re off the line,” he said.

He added that "no leader who makes his people very solid will not develop a nation”.