Business News of Wednesday, 11 February 2015
The First Deputy Speaker of Parliament, Ebo Barton Oduro has clarified his stance on the factors that are collapsing businesses in the country.
Even though the Association of Ghana Industries (AGI) in an Afrobarometer report cited the erratic power supply as one of the major causes for the failure of business, Oduro said strategy, planning and regular assessment of the businesses cannot be ignored.
According to Barton Oduro, his earlier statement on citifmonline.com that businesses should not blame the current power crisis for killing their businesses, he did not mean he does not recognize it as a problem.
Speaking for the First Deputy Speaker, Kate Addo, Deputy Director of Public Affairs of Parliament said: “He recognizes the difficulties of the power crisis but was also urging businesses to consider the other factors when looking at and assessing the viability of their businesses.”
She told citifmonline.com that “the plan was not to downplay the effect of the dumsor but to also draw attention to other factors.”
Barton Oduro spoke to Citi News at the launch of a book on Strategic Management authored by Wenchi Member of Parliament (MP), Professor George Gyan Baffour.
“If business owners are unable to able to implement, then we are not getting anywhere and that is why I talked about the assessment,” Barton Oduro opined.
“Why did you fail in this regard and what can you do to better your lot the next around?” First Deputy Speaker added that if all these factors are duly considered, businesses will survive despite the current challenges.
He said: “We need to measure all these things and that is why quite a number of businesses, and I am not saying all businesses tend to end up collapsing prematurely. I don’t think they go through this kind of processes.”