President and Chairman of Groupe Nduom (GN), Dr Papa Kwesi Nduom has advocated for government’s support for local businesses.
Ghana, according to the business mogul “cannot do away with investors, and so should support the few local ones which are producing excellent goods that need to be preserved”.
Speaking on Accra based Eezy FM morning show programme,“Morning Edition”, yesterday, Dr Nduom also called on Parliament to include Ghanaian elements into bills brought before it to ensure the rights of local entrepreneurs were preserved and opportunities given to expand the private sector as well.
“We must identify and nurture entrepreneurship talents that can be exported to other countries to help in the wealth creation process,” he stressed.
He however, chastised the country’s regulatory bodies like the Bank of Ghana (BoG), Lands and Minerals Commission, Energy and Insurance Commissions for doing little to help businesses to grow in the country.
According to him, “it is the responsibility of these state institutions to create favourable conditions for small businesses to rely on established and growing ones for support just like GN electronics which is looking to get on board people who can create components for assembling and thus giving the opportunity to other entrepreneurs to stand on their feet”.
“GN Bank currently uses locally developed software as a means of supporting made in Ghana goods,” he added.
He admonished those in authorities not to underestimate the abilities of young Ghanaians “who venture into entrepreneurship but rather encourage them on how to streamline their business structures”.
Dr. Nduom further maintained that poverty was not helping the growth of businesses in the country which affects the economic growth of the nation at large.
To this end he called on government to include all aspects of industrialisation into the nation’s development plan and support individual manufacturers.
“Wealth creation cannot be done in isolation, and that is why there is the need to put all business development plans together so that those aspects and sectors which are not doing well will draw from the strength of established ones”, the celebrated Ghanaian entrepreneur said.
On Ghana’s involvement in making this project work, he said individuals must be interested in consuming items made in Ghana since “it is one way that could create wealth in the economy”.
Making reference to a book titled; “commanding Heights” which talks about how individuals and countries could create wealth, Dr. Nduom observed that Ghana had pretended over the years not to take notices of the country’s natural resources such as diamond and gold but had rather opened her doors to investors who come only to exploit the nation’s resources.
Story: Mizpah ETORMENYE MENSAVIE-AYIVOR
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