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Business News of Thursday, 11 May 2017

Source: dailyguideafrica.com

Government maintains laser focus on economy

Vice President Dr. Mahamadu Bawumia says government is keeping a close lens on the economy of Ghana.

In this light, he said, Government has begun the implementation of policies and programmes designed to make Ghana the most business-friendly country in Africa.

These include a keen focus on a number of priorities, including ensuring fiscal discipline, cutting the budget deficit, managing the national debt, and putting in place measures to fight corruption.

Vice President Bawumia also underscored government’s commitment to good governance when a high level delegation from Stanbic Bank Ghana, as well as senior officials from their parent company Standard Bank Group, based in Johannesburg, South Africa, called on him at the Flagstaff House, Accra.

The delegation, led by Alhassan Andani, CEO of Stanbic Bank Ghana, was at the Presidency to discuss issues relating to the economy and affirm their commitment to doing business in Ghana to help drive the country’s development agenda.

Dr Mahamudu Bawumia indicated that the NPP government had been voted into office on the back of calls for drastic change in Ghana’s fortunes, and the Nana Akufo-Addo government was determined to deliver.

“This is a reformist government. Our message for change was on economic transformation, curbing corruption and that is fundamentally what we are doing.

“We are keeping a close, laser focus on the economy so that we do not get any surprises, so we can stay ahead of the curve.

“The fundamental source of what we intend to do is solid fiscal discipline and consolidation. The deficit is expected to be brought down from 9% to 6.5 % and, and we are cutting down government expenditure” Dr. Bawumia assured.

As well, “government is working round the clock to ensure stability in the provision of utilities such as electricity and water to reduce cost of production, manufacturing and service provision,” he added.

Commending Stanbic Bank for the “immense help” offered to Ghana over the years, Vice President Bawumia called on the private sector to partner government to implement programmes designed to make the lives of Ghanaians better.

Helmut Engelbrecht, Executive Head, Corporate Banking, Africa Regions pledged the support of the Standard Bank Group to Ghana’s development agenda.

“We are ready to share our experience gained in the 20 African countries we operate in to help you further modernize the Ghanaian economy,” he assured.

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