President Nana Addo Dankwa Akufo-Addo has reiterated the government’s commitment to provide strong policy support to firm up growth recovery and economic revitalization.
Speaking at the 11TH Ghana Economic Forum on Tuesday, October 25, 2022, the president further observed that the policy support will reposition and improve business competitiveness for future growth and enable businesses to leverage emerging opportunities such as those introduced by the African Continental Free Trade Area (AfCFTA).
“These supportive policy measures and regulations will also position Ghana as a competitive destination for other African businesses and investors. I am sure the seasoned panelists gathered here will delve into some of these issues on business competitiveness, regulatory policies, and financial innovation during the sessions,” he stated in a speech delivered on his behalf by Public Enterprises Minister, Joseph Cudjoe.
Need for resilience and innovative strategies
Acknowledging the country’s current economic challenges, the president made a passionate appeal to businesses to take action to develop resilience and innovative strategies to achieve long-term value and sustainability.
He said the varying risks triggered by global economic issues have called into question how businesses operate, signalling that it cannot be business as usual in a post-pandemic era and building business resilience and sustainability will be key and critical to the recovery process.
“…businesses must recognize and anticipate the changing operating environment; they must develop strategies within the context of the changes; they must allocate resources and create values to chart a path toward future growth.
“They need to redefine strategies that would reposition them for future growth by adhering to good governance practices, efficiently deploying scarce capital, improving supply chains (from product design to raw material procurement, to processing and distribution), and, finally, adopting technology-driven skills for business development and operations,” the president said.
