Business News of Friday, 2 November 2018
Minister for Business Development, Dr Mohammed Awal, has urged local companies in the country to uphold high standards in their operation, pay their taxes promptly and remain focused since “these are the surest bet to sustaining your businesses for the long haul.”
Recounting the immense support the businesses have provided to the economy, the minister urged them to utilise resources effectively and pursue excellence in order to beat global competition.
Dr Awal was speaking, an event that pooled several business concerns, including banks, telecom and beverage companies, to uphold standards in their operations.
Branding expert, Latif Abubakar, who played a key role in the organisation of both the Summit and Awards, said: “local businesses cannot stand the test of time if they fail to take standards seriously.”
According to him, “it is one thing to set up a business, and it is another thing to produce compelling value for it.”
He also urged Ghanaian businesses across the diaspora to extend their businesses home.
The Ghana Business Awards is a prestigious awards programme that recognizes and rewards excellence across all sectors in Ghana.
The awards provide a platform to recognize individuals and companies that play a significant role in the growth and development of their business sector while recognizing the key functions within the sector that promote growth and sustainability.
The awards scheme is a benchmark of excellence for company performance despite the recurring challenges.
The benchmarks for company performance were based on some Key Performance Indicators (KPIs) to derive the standards of excellence.
The main objective of the event was to reward businesses that have played a defining role in moving their industry forward and have demonstrated achievement across a wide variety of domains including sustainability, operational excellence, innovation and others.
It was also to identify projects and individual achievements that have enabled their business to set themselves apart from their competitors and that have produced clear and compelling value and other relevant results.
The event was also intended to bring together players in the business industry and recognize achievements from local and international companies involved in promoting the business sector in Ghana.
The Awards saw Ecobank Ghana Limited voted Bank of The Year, Japan Motors Limited – Auto Company of the year.
Former Chief Executive of MTN Ghana, Ebenezer Twum Asante emerged CEO of the year while Dr Kwabena Adjei of the Kasapreko Group of Companies was recognized as Entrepreneur of the year.