Employ innovative strategies to control economic hardships - AGI urges businesses

The Association of Ghana In­dustries (AGI) has urged industry players to adopt innovative ways to come out of the challenges that confront their industries.

Their call comes as business­es are currently grappling with economic challenges confront­ing the country, citibbusiness­news.com has reported.

Speaking during the Accra Regional Annual General Meet­ing of the Association, Great­er Accra Regional Chairman of AGI, Dr Tsonam Cleanse Akpeloo, believes that the As­sociation can navigate through the current crisis if members commit to strategic ideas.

“Since the beginning of the year, industries have gone through a lot of challenges as a result of the global crisis specif­ically the ravaging effect of the COVID-19 pandemic and the Russian-Ukraine war. This situa­tion has cascaded into economic and financial limitations with its attendant impact on businesses and trade,” he recounted.

He also called on government to speed up interventions to sup­port industry players who have been badly hit by the crisis.

“We are looking forward to government to take immediate steps to support industries to overcome some of these chal­lenges. We have consistently chosen the themes that reflect finances sources available for in­dustries post COVID-19 and we have not deviated this time.”

“We will continue to push for alternative funding sources for industries especially for our SMEs. That notwithstanding we think if there is any dispen­sation that we need funding, it is now.”

“This is the opportune time to help members find the ap­propriate funding for their busi­nesses. We are all concerned that our industries navigate through the economic crisis especially in the midst of the high cost of the dollar against the cedi and the multiplicity of taxes. We therefore are calling on all stakeholders present to come out with innovative ways to receive collateral free funds,” he added.