Address constraints of private sector – PEF tells gov’t

Nana Osei-Bonsu, Chief Executive of Private Enterprises Federation (PEF), has urged government to create an enabling environment to allow the private sector to thrive.

Infrastructure deficiency and unavailability of utilities are some of the major constraints of the private sector which government must address, according to him.

Osei-Bonsu, who made this known at a forum on the state of the private sector in Ghana, mentioned that the lack of access to low cost funding and the poor internal structures of individual businesses were major factors affecting the growth of the sector.

He said the situation whereby one person manages everything in a company does not augur well, adding that “mostly when the person dies, the company too dies and when the person is sick the company is also sick.”

Small and Medium-scale Enterprises (SMEs) are not making enough money because they are not doing business in the most efficient way, Osei-Bonsu indicated.

He said PEF was disscussing with government to find the right platform to address private sector problems.

Osei-Bonsu said the forum was aimed at focusing on the challenges of businesses in order to draw out the appropriate training programmes for them next year.

He said they would use the training programme to build the governance structure of businesses that qualify to be trained.

The PEF Chief Executive said, “We will teach them good recording keeping, management, internal control, reporting channels among other.”

That, he said, would allow the institutions to have a good stream of structure or corporate governance with which they can operate successful, adding “it will also fine-tune the way they operate.”

Baafuor Ohene Abankwa, Corporate Banking Manager, HFC Bank, entreated private sector operators to see banks as partners.