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Enterprise Life, in partnership with the Association of Ghana Industries (AGI), hosted an Advantage Knowledge Forum as part of its commitment to mitigate the impact of Covid-19 on businesses.
The event on the theme “Building Agility and Business Growth for AfCFTA and the Post-Covid-19 Era”, put into perspective what the Ghanaian business community needs to do to ensure sustainability and growth of the pandemic.
Speaking at the event, Enterprise Group CEO Keli Gadzekpo instructed companies to respond in an agile and decisive manner to meet the challenges posed by the pandemic.
“The scale and speed of change resulting from the pandemic has generated new forms of financial and operational risk as businesses grapple with inflation, capacity constraints and supply chain disruptions,” did he declare.
He said now is the time for companies to reach out and seize emerging opportunities in the recovery and build strategic resilience for the future.
Mr. Gadzekpo said that beyond its revolutionary size, the AfCFTA promises to be a paradigm shift and a deeper commitment to integrate the continent by simultaneously negotiating goods and services.
The group’s CEO said the deal was a potential economic game changer for Africa’s development, not only because of its potential to improve intra-African trade.
He said it would also allow countries in the region to competitively integrate into the global economy, reduce poverty and promote inclusion.
Additionally, AGI’s Accra Regional President Tsonam Cleanse Akpeloo revealed that the Association completed an in-depth study on the impact of Covid-19 late last year, and it showed that more 80% of its members have been affected by the pandemic.
He said he was lucky the government took the pressure off the industry by boosting businesses affected by COVID-19.
He said the need for the Development Bank of Ghana to support industries was an excellent intervention for industrial growth.
He said as a leading advocate for the private sector in the country; they would continue to engage government and all stakeholders on issues that affected industries.
Mr. Akpeloo said the Association will develop programs and systems to develop members to be competitive globally, and “we will engage various stakeholders on Advantage Knowledge Forum to find solutions.”
Regarding AfCFTA, AGI Accra Regional President said it was important to develop a well-planned and deliberate strategy and combine entrepreneurial and industrial efforts to reap the benefits of AfCFTA.
For his part, Minister of State at the Ministry of Finance Charles Adu-Boahen said the government is committed to supporting the private sector.
He said the government has provided a 750 million yen business support program to businesses to mitigate the impact of the pandemic on MSMEs.
The minister said the second phase was a medium-term revitalization phase from 2021 to 2023, focusing on industrialization, affordable housing and digitization.
He noted that the program would boldly allow the government to create a better and greener business environment.
The minister said the government is considering additional collaborations and partnerships between the public and private sectors to implement policy initiatives under the GhanaCares program.
Mr. Adu-Boahen called on the private sector to join the program and take advantage of the opportunities available. “It is because it clearly defines the strategic priorities of the government,” he added.
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