Business News of Saturday, 6 January 2018
The Ghana National Chamber of Commerce and Industry (GNCCI) has demanded swift action in releasing the stimulus packages announced by government to distressed businesses.
Government as part of plans to improve the business environment in the country, in 2017, began processes to support businesses in distress through support packages.
The Trade and Industry Ministry has announced that it has shortlisted about eighty companies to benefit from the support.
However in an interview with Citi Business News, the CEO of the Ghana National Chamber of Commerce, Mark Badu Aboagye said government has had ample time to process the stimulus packages and should be able to provide the shortlisted companies at least, within the first quarter of this year.
“It should be as quickly as possible, one year has passed so I mean the honeymoon period is over, so we need to quickly kick start all the programs that were clearly stated in this government’s manifesto and also in their last budget. The stimulus package as is made clear is for distressed but viable businesses”.
He added that any further delay in the release of the packages may lead to a total collapse of the affected companies.
“The businesses are already distressed so you don’t have to wait for long and let them collapse. So in 2018 we are expecting that whatever package they promised, it’s going to be given to the identifiable business for them to also revamp their activities and start production and employ more people”.
“So the stimulus package we can’t delay any longer I think it’s about time that they put all the things they have said into practice and how some of the businesses and industries will be established that’s what we are looking for in 2018.”