The National Employers Association of Ghana is asking government to immediately address what it says is the numerous economic challenges affecting businesses in the country.
According to the association, the current environment within which they have to operate is tough, rendering their businesses unprofitable.
The employers complain that although government is embarking on some reforms to ease the business environment, numerous challenges still persist.
They cite high interest rates as the reason for their inability to secure financial support from the banks.
They are also complaining about the depreciation of cedi against the dollar, which affect members especially those who import raw materials for their products.
The Ghana Employers Association is therefore asking government and the bank of Ghana to take steps to ensure that banks reduce their rates.
Speaking to Citi Business News during the 58th Annual General Meeting of the association, Former Chief Executive of the GEA, Alex Frimpong, says if government fails to improve the environment for doing business many businesses will collapse.
“Businesses are failing, everything is against business owners. Electricity is still high, taxes and other high cost. It is too much and must be addressed immediately, he lamented”
The employers are also unhappy businesses are unable to meet their target due to inadequate revenue, forcing them to cut down on their production levels.
Addressing the concerns of the employers, Deputy Trade Minister, Carlos Ahinkorah assured that the various reforms being undertaken by government will eventually ease the cost of doing business in the country.
By Nana Oye Ankrah/citibusinessnews.com/Ghana
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