Senyo Hosi, Chief Executive of the Chamber of Bulk Oil Distributing Companies (CBDCs), has called on businesses to form strong alliances to be productive and efficient.
According to him, the challenges faced in 2015 should prompt businesses to re-position themselves in 2016 to achieve success.
Mr. Hosi, who made this known in an interview with BUSINES GUIDE said, “Businesses have to consolidate, acquisitions have to be made, while strong alliances have to be formed to get people to be productive and efficient.
“This is what Ghanaian businesses and entrepreneurs have to think about.
Businesses in Ghana last year faced a lot of challenges while others sacked workers.
This was as a result of load shedding exercise, high inflation, depreciation of cedi against major foreign currencies and increased taxes, among others.
Touching on prospects for the petroleum industry in 2016, Mr. Hosi said the prospect for the industry this year is bright but it will all depend on how the industry re-positions itself and what policy actions the government takes.
“We all need to be more efficient and competitive. We can’t continue to do things in the old way.
“An increase sense of responsibility must be attained within the petroleum industry to be competitive and efficient. You can’t compete too much in little fractions…you will not be competitive,” he said.
Mr Hosi said the private sector should be encouraged to operate and compete effectively, stating that government should not be seen as an active player and at the same time a regulator and consumer.
“I think that the economy will best thrive if we harness the potential of the private sector. There should be equal platform for everyone to do business,” he said.
Mr. Hosi said, “It will only take Ghanaians to turn this economy around and to prosper. The earlier we believe in Ghanaians the better it will be for us as a people.”
By Cephas Larbi