Risk management key to solving business challenges – Economist

An Economist and Director of Africa Corporate Network, Mr Herman Warren, has urged industry players to pay attention to risks management to overcome emerging challenges facing business operations in Africa.

According to Mr Warren, global trade wars and cyber security issues remain a risk to global economy.

Speaking to Class Business on the sidelines of Baker McKenzie's 2019 International Commercial and Trade Africa Roadshow by Ghana Kimathi Partners in Accra, Mr Warren said market crises ought to be managed.

The Chair of Baker McKenzie's International Commercial and Trade in North America, Jennifer Trock, urged business moguls to complement their operations with online banking and electronic payments.

Contributing to the discussion, the Global Chair of Baker McKenzie's International Commercial and Trade, Mattias Hedwall, said the European Union supports the African Continental Free Trade Area with 50 million Euros towards the new Africa, Europe Alliance for Sustainable Investment and jobs.

According to him, the Economic Partnership Agreement between EU and Ghana was ratified in December 2016 and has since led to exports of more high value goods, moving up the supply chain.

The Director of the University of Ghana's Centre of Asian Studies, Dr Lloyd Amoah was of the view that Ghana can emulate the development strategies of China.