The Tarkwa Branch of the Ghana National Chamber of Commerce and Industry (GNCCI) has held its 2022 dinner to take stock of the year’s activities and express appreciation to members for working hard to improve upon the economy.
The annual event, full of entertainment and fun, gave members the opportunity to wine, dine and network.
Speaking at the ceremony, Mr Mark Berdu Aboagye, Chief Executive Officer (CEO) of GNCCI, explained that 2022 was a difficult year for its members because they had an environment that was not too supportive for business operators.
For instance, he said, “before last year, we saw inflation at its peak of 50.3 per cent, cost of production stood at 78 per cent which was very high, the cedi depreciated until the end of the year where it started appreciating and then interest with policy rates went up to 27 per cent.”
Mr Aboagye stated that despite the challenges, the Chamber supported its members with the necessary capacity building programmes to enable them to sustain their business to 2023.
The CEO said: “We are looking at how this environment would improve for business. Of course, we are aware of the bail- out from the International Monetary Fund (IMF), which if we can get within the first quarter of this year, we are likely to see some stability in 2023 and this would go a long way to aid business.”
“Now, there is debt restructuring and this will affect businesses because in Ghana most of these people get funding from banks, but the current stock market is such a way that Small Medium-scale Enterprises (SME’s) cannot go to the stock market for assistance.”
“Even though we are very optimistic for 2023, it’s not clear. This is not a time for massive expansion, buying new cars but rather ensure you uphold your business through hard work” he advised.
Mr Clement Osei Amoako, President, GNCCI, lauded the leadership of GNCCI Tarkwa branch for working hard to increase its membership and also initiating programmes to benefit the members.
“The Tarkwa Chamber is very strong now and they are poised to do a lot of work within the year. When you set up a business, the best place to be is with GNCCI,” he added.
The Tarkwa-Nsuaem Municipal Chief Executive Officer (MCE), Mr Benjamin Kessie, praised the Tarkwa Chamber for its strides and contribution to the economy.