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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

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    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    PURC justifies upward review of utility tariffs

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

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    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

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    Vodafone agrees sell stake in Ghana’s business to Telecel

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    IIPGH to enter coding education partnership with Telecoms Chamber

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    Node 8, HTU hold first edition of Node X in Ho

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    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

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Mixed views among business operators over calls for business minister

bycitibusinessnews
October 28, 2015
in Business, Local Economy, Top Stories
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There is growing tension among business operators in the country over calls for an appointment of a business minister.

[contextly_sidebar id=”QsIWWXUwMtOFyHPV7tIlyrJgDd2IOkCh”]The chaos stared after lawyer and a council member of the Association of Ghana Industries (AGI) David Ofosu – Dorte advocated for the appointment of a minister of business.

A number of business associations Citi Business News spoke to have rejected the call.

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The friction among the various business groups started after council member of the Association of Ghana Industries (AGI) David Ofosu – Dorte called on the private sector to push for the appointment of the Minister of Business as the appointment will influence the creation and implementation of policies that will make Ghanaian business competitive on the global stage.

“Private sector is different from business because government does business, as I set the tone ECG is business even though it is owned by the government and if you don’t look at it from that angle and you say that you are looking for a minister for the private sector  they look at it from the private sector perspective. Who takes care when government does business and who takes care when SOS collapse and the tax payers money is used to pay them. We need the minister for business, even advance countries have that. It is the duty to ensure that the bottlenecks business face are constantly removed.”

Am not looking for the public sector to start it but am challenging the private sector to start the advocacy to have the minister of business as other ministers like the trade and industry and that of the public private partnership minister are responsible for specific sectors, as when you are talking of businesses you are looking at both public sector and private sector perspective, Senior partner of AB and David law firm David Ofosu – Dorte told Citi Business News.

But a number of business associations who spoke to Citi Business News on the matter say the call is unnecessary.

According to them the creation of such a ministry will only duplicate the trade ministry.

Though they believe there is more to be done by the trade’s ministry to improve the business environment and competitiveness of Ghanaian businesses they tell Citi Business News the creation will not serve its intended purpose.

Ghana Union of Traders Association (GUTA) says the call must be rejected as the move will only add to government’s expenditure.

According to the President of GUTA George Ofori ‘by looking for that minister what does that mean because we already have a trades minister we also have the private sector ministry so I don’t know what is behind the concept i think he needs to explain the call further’. He said.

Meanwhile AGI if on the same table with its council member will have to submit its proposal to other business associations based on which a decision will be taken on whether to more the call forward or not.

–

By:  Vivian Kai Lokko/citifmonline.com/Ghana

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Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)
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