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Business News of Monday, 18 June 2018

Source: www.ghanaweb.com

Ghana must improve economy to achieve ‘Beyond Aid’ agenda - Ghana-SA Business Chamber

For Ghana to achieve its Ghana Beyond Aid agenda, government must put in place robust strategies that are capable of transforming the economic outlook of the country, business experts, including President for the Ghana-South Africa Business Chamber, have suggested.

Ashley Rix believes the Ghanaian government’s quest to build an economy independent of foreign aid and support is achievable only if the economic status of the country is improved.

Issues of unemployment, among other things, according to him, must be addressed outright and the exchange rate balanced.

“You need to improve your economy. You need to improve your employment and you’ve got to improve monies that are in the country and a number of things that you can do,” Ashley Rix told Ghanaweb in an interview on the sidelines of the Ghana-South Africa Business Meeting in Accra Monday.

He said, manufacturing is key in growing an economy, hence Ghana must be ready to cut down on excessive import and adopt export in its bid to grow beyond foreign aid.

“What you need to do is to increase your manufacturing; your local manufacturing, getting foreign manufacturers to come and set up, create employment, create export and funds are coming into the country,” Mr. Rix advised.

He also wants interest rates on funding for businesses operating in the country reduced so as to make it flexible for businesses to grow. This, he is optimistic would ensure more money is injected into the economy.