Story By: Paul Harrison Mensah
Confidence level in the business environment among industrialists has risen high, with the appointment of some Ministers of state to steer affairs of the economy and arrest the dwindling fortunes of businesses.
Business confidence dipped in all major sectors of the economy, including agriculture, services, Manufacturing, construction and tourism industry for far too long.
Some industrialists who spoke with the Business Journal last week Friday in Tema were highly excited about appointments so far made by His Excellency, Nana Edward Addo Dankwah Akufo the new President of the Republic of Ghana.
According to them even though the new administration has not yet started serious government business, the cream of competent and experience to take charge of our economy is par-excellence.
“They come onboard with lots of experience, dedication, energy, dynamism, clear minded, affable and professionalism,” says Mr. Ato Conduah, Management Consultant.
Mr. James Asare Agyei, President of the Association of Ghana industries (AGI) also said that Ministers are responsible for the implementation of government policies. “What it means is that a lot more people are having serious challenges when it comes to doing business in the country, if nothing drastic is done about the current situation that we find ourselves in, particularly with the utility tariff, them definitely the future is blear, so one is expecting the new administration with the crop of professional personalities in the helm of affairs to tackle the situation head-on and bring rapid development in our business,” he stated.
Dr. Tony Oteng Gyasi, Managing Director, Tropical cable and conductor also said, “Local Manufacturers who import raw materials were severely hit by foreign exchange losses and their margins were seriously affected by the appreciation of inputs prices, utility prices and rising transportation costs over past two years or more, so industries are expecting the new government with his experienced team which they have to confidence in them to turn things around so that they can also give more employment to the people,” he added.
The industrialists were optimistic that all the appointed Ministers will sail through in the parliamentary vetting looking at their track records and professionalism.