The Deputy Minister for Trade and Industries, Mr Carlos Ahenkorah, has advised owners of businesses to see mergers and acquisitions (M&As) as a way to end their struggles.
“It is very sad that when many companies do not do well knowing perfectly that the only solution they have is to merge with a stronger partner or make themselves available to be acquired, they will rather see their companies die,” Mr Ahenkorah stated.
Mr Ahenkorah added that “When a company is struggling they are not exempted from paying taxes but when they merge with another company these taxes are shared among them and instead of each paying, they are seen as one company and they pay taxes as such and this releases all tax stress from both companies."
He made made the call at the launch of AirtelTigo Business in Accra, last Friday.
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The AirtelTigo Business is a business initiative which is going to help address the communication needs of businesses and also find ways to support small enterprises to ensure they thrive.
The Chief Executive Officer of the company, Ms Mitwa Kaemba Ng’ambi, said the way is doing business has transformed and it was therefore, necessary for businesses to catch up with the new trend to be able to satisfy the growing demands of their customers.
Ms Ng’ambi said emerging enterprises were key growth drivers for the economy and it was necessary to provide them with the needed support.
“When such businesses thrive it helps to improve on the economy so if they are not getting the necessary support and they collapse, it goes a long way to affect the economy” she stated.
She said this was the reason why the company had introduced the AirtelTigo business to work with their business partners to ensure that provision of mobile packages for company staffs, hosting of data centres or servers, connecting of offices among many other things did not become a challenge.
The Chief Business Officer of the company, Mrs Ethel Anamoo, also stated that with the SME’s they were going to introduce a new mobile solution called Flexi Business.
She said the Flexi Business has no expiry data roll over for SME’s and it was going to provide them 40 per cent data and 30 per cent more on calls and other mobile packages.
Mrs Anamoo advised new businesses to partner with AirtelTigo Business to enable them thrive to meet the growing demands of their customers.