Business News of Wednesday, 22 October 2014

Source: GNA

Bastiat Ghana, new engineers for private sector growth

Bastiat Ghana, a free market economic think tank institute, is rolling out a number of interventions that seeks to focus on the most challenging and competitive industrial environment mixed in Ghana.

The searchlight according to Dr Tweneboah Senzu, Managing Director of the institute would be on the complicated business development challenges to prove to the business market that Bastiat Ghana “are the new engineers for private sector growth in Ghana”.

A statement issued by the institute in Accra on Tuesday and copied to Ghana News Agency said: “The level of market competition in the various industries that holds Ghana’s economy differs and as an Institute we are unique and very skilful in our practices as a season engineers of Ghana’s economy through the private sector empowerment.

“We work 24 hours monitoring market shares and volumes of businesses in a very competitive industrial sectors, and provide reliable antidote to re-vitalise the operational power of partnered organisation to be among the leading companies in the industry.

“One of the well- organised industries with a fierce competition in Ghana is the Telecommunication Industry. Our data report indicates there are two market leading brand that is MTN and Vodafone, which are performing creditable well in their market volume and wide percentage range in market share.

“The third brand that is Airtel analytical report indicates that there is substantial market growth basing our analysis on past performance comparative to present and credit the brand as a future promising product to increase its market share in Ghana,” the statement said.

It said Bastiat Ghana report indicates that the other three brands in certain percentage differences are struggling for market growth and thereby affecting their market volume “using our monthly parameters to be from January 2014 to September 2014 despite all the quality marketing strategies adopted”.

The statement said the institute provides comparative market analytical report and antidote for improvement in operational performance.

“Our support is issued on philanthropic grounds when our efforts are supported to enable the Institute to achieve it purpose of empowering industries to create more jobs for quality employment to improve Ghana’s economy and make Ghana a better place to live.

“Detailed data collection and analytical report will be made available to the companies when they call for it,” the statement said.