Business News of Friday, 12 January 2018
Source: citifmonline.com
2018-01-12
Outgoing AGI president, Mr. James Asare Adjei handing over to Dr. Yaw Adu Gyamfi
The Association of Ghana Industries (AGI) is expecting government to disburse funds meant for distress companies under the stimulus package by first half of the year.
According to the association, it has completed all assessment works with government and has identified companies in dire need of various help from government to revive their operations.
Speaking to Citi Business News at the Investiture Dinner of the new AGI President, the Chief Executive Officer of the Association, Seth Twum Akwaboah stated that some of the needs of the distress companies require quick release of the stimulus package.
“The way some of the initiatives are implemented is not a one off event. Some companies may need just marketing efforts that will help them. We do not think that that will take too long,” he said.
He explained that some companies need intensive funding while others need minor funding.
“Once you identify the need of a particular company you can then make the arrangement. There could be some that will require further works. So it’s difficult for me to say that first or second or by third quarter we would have done so much.
Mr. Twum Akwaboah maintained that the package is important to bring relief to dying companies, hence it cannot be delayed.
What I will say is that the stimulus package is so important and so urgent such that something must be seen on the ground. So I expect something in the first quarter,” he stressed.
Meanwhile, the newly sworn-in president of the AGI, Dr. Yaw Adu Gyamfi assured that association will aid government to successfully implement the one district one factory project.