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GNCCI holds its 41st Annual General Meeting

By
Belinda Ayamgha/Victoria Enyonam Adonu

Accra, July 27, GNA – The Ghana National
Chamber of Commerce and Industry (GNCCI) has organised its 41st Annual
General Meeting (AGM) to brief stakeholders of the Chamber’s reports and
audited financial statements.

The meeting, which took place at the Shippers’
House, was organised in line with the Chamber’s Constitution which enjoins it
to take stock of its activities.

The 41st AGM was on the Chamber’s
financial reports for the 2015 and 2016 financial years.

Nana Dr. Appiagyei Dankawoso I, the President
of the GNCCI, said the Chamber had demonstrated its commitment to the growth of
the private sector since the colonial era.

He expressed worry that though the Chamber had
worked with successive governments in promoting and protecting the commercial
and industrial interest of the private sector, the sector was gripped with some
challenges due to the worsening nature of Ghana’s economy.

“The Ghanaian economy has been worsening owing
to a number of economic and structural challenges,” he said.

Nana Dankawoso said the high cost of borrowing
was affecting the competitiveness of businesses in the country.

He said the high volatility of the cedi in the
foreign exchange market was an acute problem for the growth of businesses,
adding; “this has made it extremely difficult for businesses to undertake
medium to long term planning”.

“It is instructive for Government to
collaborate with the private sector to address Ghana’s structural problem of
over-reliance on the export of low value added to primary products and the
excessive importation of goods due to low domestic production” he stated.

Nana Dankawoso, however, said the Chamber had
taken up a number of advocacies and programmes to enable the businesses to be
competitive and innovative, including actions taken in 2016 to improve
efficiency and reduce challenges of doing business at the ports.

In line with this, he said, the Chamber would
hold a conference scheduled for August 2017 in Accra to device strategies to
curb the problems.

Nana Dankawoso said the Chamber had
facilitated business-to-business meeting and investments for delegations around
the world to create needful opportunities for members.

He said: “The Chamber fully supports
government’s initiative of establishing at least one factory in each district
through the ‘One District, One Factory’ initiative.

Nana Osei Bonsu, the Chief Executive Officer
of the Private Enterprises Federation (PEF), commended the Chamber for its
contributions to private sector growth, including its pioneering role in the
establishment of PEF.

He pledged PEF’s commitment to building the
capacities of GNCCI members as well as others under the Ghana Institutional
Support Project supported by the AfDB.

Mr Nicolas J. Gebera, the Fund Manager of the
BUSAC Fund, said the fund recognised the GNCCI as a key in promoting private
sector growth and encouraged it to continue working through advocacy to create
a more conducive business climate for the private sector.

The Ghana Chamber of Mines, Association of
Ghana Industries and Ghana Employers Association also delivered solidarity
messages, commending the Chamber for its enormous contribution to the growth of
the private sector.

They highlighted the need for synergies
between business associations and the need to re-evaluate Ghana’s trade
policies to favour production by local industries.

The AGM was attended by representatives of the
Ministry of Trade and industry, members of the GNCCI, the diplomatic corps,
representatives from various business organisations and the media.

GNA

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