Business News of 2014-04-14

Ghana has potential to be commercial centre

The Chairman and World President of the International Advertising Association, Mr Faros Aboumahad has revealed that Ghana stands the chance of becoming the commercial centre of Africa depending on the country’s own state of preparedness.
According to him the country’s democratic credentials coupled with other indices such as availability of resources, political stability, competitive economic environment among others had rated Ghana as a promising centre of commercial excellence.
In the light of these, he stressed that “the opportunity to become the commercial centre of Africa is presenting itself and we ought to capture it”.
Mr Aboumahad said these when he addressed a prelude briefing to the Africa Rising conference scheduled for Ghana later this year. He spoke on the topic “Insights into what’s coming next for the Ad Industry from the IAA’s World – A Prelude to Africa Rising” in Accra last weekend.
He said with optimism that the best time for Ghana to start aiming high was now and that aim must not be limited to the local Ghanaian market but across the various geographical and economic regions as well.
The worst case scenario for Ghana, he said, was to narrow the national cause to becoming the advertising centre of Africa saying “even if we narrow the cause to become the ad centre of Africa, it will be remarkable”.
Towards those ends, he urged the advertising industry to take advantage of the opportune timeliness by getting the fundamentals going, to wit, the setting up of vibrant businesses, necessary infrastructure, ensuring good governance, applying international standards and having the appropriate and relevant information, statistics, dates as well as undertaking consumer research.
In ensuring the right level of preparedness towards achieving the set objectives, he called on the advertising fraternity to work together in getting the right industry regulations which must be favourable to their cause of achieving the prime status, in place.
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