Aug 19, 2013

Ghana's economy under repairs - Deputy Governor

Second Deputy Governor of the Bank of Ghana has admitted that the country’s economy for the past six months has been in crisis.

Dr. Issahaku Nashiru was however quick to jump to the defense of government saying, “Government should not be blamed because it is a global phenomenon.”

He gave the assurance that the Ministry of Finance and Economic Planning in collaboration with the Central Bank is assiduously working to fix the ailing economy.

Dr. Nashiru was addressing the business community in Tamale at the climax of the second Northern Ghana Investment Conference under the theme, “Harnessing the investment potentials of Northern Ghana to attract accelerated development; the role of public-private partnership.”

According to the second Deputy Governor, prices of mineral resources have softened in the international market for which has culminated into imbalances with so much pressure on the demand of foreign exchange.

He persuaded the business community in Northern Ghana to partner with external investors to reduce the highest poverty levels associated with the region. Chairman for the occasion, Dr. Hakeem Weimah pleaded with the people of the north to give peace a chance to attract investors.

He further asked the business community in Northern Ghana to promote northern culture through the music industry. Dr. Hakeem commended the Convener of the Conference, Mutawakil Riyad for his forethought and called for enough support to sustain the event.

Mr. Mutawakil Riyad thanked the Savannah Accelerated Development Authority (SADA), Ministry of Trade and Industry (MOTI), the Ghana Investment Promotion Centre (GIPC), the Northern Development Forum (NDF) and other development partners for supporting the conference which started in 2012.

Awards were given to deserving awardees including, HFC Bank, African Bank, Prudential Bank, Vodafone Ghana Limited, Milicon Ghana Limited (TIGO), SIC, Enterprise Insurance Company Limited, Care International, Camfed, NIIT and Asongtaba Cottage Industries.

The Northern Ghana Investment Conference was initiated in 2012 by Ridmut Consult in collaboration with the Savannah Accelerated Development Authority (SADA) and other major stakeholders.

Source: Graphic Business