Chamber calls on private sector minister
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According to him, the private sector, which is the engine of growth of the economy, has had to contend with a lot of challenges in recent times, with the high cost of borrowing being paramount.
Also, the lack of infrastructure and inability of operators in the sector to access long-term credit facilities was adversely affecting businesses in the country.
Dr Adjei Baah raised these concerns at a meeting with the Minister in charge of Private Sector Development at the Presidency, Mr Rashid Pelpuo, in Accra.
Present at the meeting were some past and present executive members of the GCCI, officials from the Private Sector Development Centre and the media.
The meeting, which is the maiden one after the minister assumed office, was aimed at congratulating him on his appointment and to discuss solutions that could be implemented to address challenges of the sector.
He stressed that although the Private Public Partnership (PPP) policy is a laudable initiative, the private sector in Ghana was not actively involved although real economic development is spearheaded by the sector.
He thus urged the minister to see how best the trend could be reverted so more private sector operators are involved, adding that if the issue of high cost of borrowing is addressed, the sector can move forward.
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Mr Pelpuo, in response, pledged the centres resolve to collaborate with the GCCI to help the sector grow.
He explained that a number of policy initiatives with regards to private sector development would soon be rolled out to help the sector and would include creating a healthy business environment, export diversification and a number of financial innovation initiatives.
The minister was thus optimistic that these interventions would effectively change the face of the economy, lower cost of doing business and increase the ease of doing business in the country.
Story: Jessica Acheampong