Government’s Negative Policies Killing Ghanaian Businesses – Ndoum

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The president of Groupe Ndoum, Dr. Papa Kwesi Nduom, has called on government to stop its negative policies which are stifling the growth of indigenous businesses in the country.

He explained that current business policies being rolled out by government only favours foreign businesses at the expense of indigenous once with many local businesses folding up.

Speaking in an exclusive interview with Starr News‘ Central regional correspondent Kwaku Baah-Acheamfour on the sidelines of the Bakatue Festival of the people of Elmina in the Central region, Dr. Nduom, who is also the leader of the Progressive People’s Party (PPP), decried recent demands by government in the financial sector which had led to many banks either folding up or taken over by government .

He reiterated that government’s deliberate continuous increase in capital requirements for financial institutions which local banks cannot match is ample evidence that government wants such indigenous banks to collapse so that the few foreign banks could take over the financial market.

Government’s posture, he explained, has indeed led to the collapse of many indigenous financial institutions, which were not only paying huge taxes to support the country’s development, but also contributed in reducing the unemployment rate by offering jobs to a lot of people in the country.

He explained that it is even the local banks that have been able to bring banking to the door steps of Ghanaians thereby improving local economies compared to the foreign banks that are only focused at regional capitals.

Such banks, he added, even repatriate their profit compared to that of the local banks which stay in Ghana to support the economy and that government will end up sending a bad signal about local companies to Ghanaians preventing them from believing in such Made in Ghana Brands.

He also urged government to live up to its responsibility of making industrial enclaves conducive for business, especially by providing the needed infrastructure that industry needs to function efficiently.

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