The minister of State in charge of private sector development Hon. Rashid Pelpuo has decried the situation where Ghana’s private sector seems to lag behind instead of directing the growth of the economy.
The minister who was speaking at the launch of national business plan and entrepreneurship competition Enhancing Growth in New Enterprises, ENGINE also stated some of the moves being made by government to promote entrepreneurship and grow the private sector to take the front role in national development.
“It is important we recognize the critical role of SMEs in our economy. To recognize this and make policies that support them is one major occupation of government”, he said.
He says “Ghana’s investment climate has been largely conducive and has encouraged private sector growth resulting in high GDP growth rates averaging 5% over the last decade” and adds that “compared to other countries in the sub region, we have done well.”
The minister however admits that the “ease of doing business in Ghana still left much to be desired.”
He expressed the need for Ghana to put in extra effort in order to remain the destination of choice for people coming into Africa and adds that government is doing its best to ensure the best business environments for the private sector.
The Programme; ENGINE is funded by the UK government through DFID and managed by TECHNOSERVE with support from local businesses and professionals.
–Bernard Buachi, rawgist.com
