Gov’t to bail out 100 struggling companies in Ghana

Government is to bail out viable but struggling companies in the country, President of the Ghana Chamber of Commerce and Industry, Nana Dr Appiagyei Dankawoso II has revealed.

Speaking at the Kumasi Chamber of Commerce and Industry CEO’s breakfast meeting, he said
about 100 companies which have prospects but are struggling would receive financial support from government to find their feet.

“As we speak now there is an initiative from the Ministry of Trade and that companies which are not performing well and have the capacity to improve within a matter of one year have money set for them,” he said

The event was dubbed: “Positioning Ashanti Region to take Advantage of the ‘One District, One Factory ‘ policy”.

Nana Dankawoso who is also the President of the Pan African Chamber of Commerce and Industry underscored the need to revive non-performing companies in the country.

One District, One Factory

The One District, One Factory, which is the government’s economic flagship programme, was discussed at the meeting. The subject of programme execution and opportunities were at the centre at the of discussions

Nana Dankawoso said the Ghanaian industrialists are ready to optimise the government’s industrialisation policy.

He said the GCB Bank’s assurance to support the project was a beacon of hope, saying “Even before we kickstart the programme, Ghana Commercial Bank has put down one billion cedis credit facility”.

Consumers Complexity

He said series of programmes would be held for the local producers in order to make their produce attractive and preferable in both local and international markets.

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“The whole thing for me is about mentoring, coaching and training; some businesses are doing well in the international market so we are going to use them” he said.

He further revealed that a committee would be set up to undertake the task.

By William Evans-Nkum||Ghana