On the Kwahu Enterprise Discussion board on Saturday, April 19, President John Mahama opened up about what he described because the “most regrettable expertise” of his life.
An ill-fated try and arrange a member of the family in enterprise.
Sharing classes from his private life, Mahama recounted how he as soon as bought a bus for a relative to run a small transport enterprise, hoping to ease the monetary pressures he confronted whereas serving as a Member of Parliament.
Nevertheless, as a substitute of easing his burdens, the initiative become a expensive mistake.
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In line with him, the bus was poorly managed and steadily overloaded, resulting in mechanical failure. He defined that the axle of the automobile ultimately broke because of the pressure, and what was supposed as a supply of earnings grew to become a relentless monetary drain.
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Mahama detailed how repairs grew to become frequent and costly, noting that it finally value him extra to take care of the bus than if he had merely given the cash away.
Issues worsened when he found that the driving force, a relative who lived in his household dwelling, was diverting funds from the enterprise to construct a private home. To today, that home stays unfinished.
In the long run, the President determined to chop his losses and bought the bus.
Ever since I bought the bus, that constructing, which had reached the lintel stage, remains to be at lintel stage—even right now.
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President Mahama agrees with Minority Chief
Mahama shared the story in response to feedback made by Minority Leader Alexander Afenyo-Markin, who had noticed that many companies fail not because of an absence of funding, however due to unreliable folks managing them.
The President agreed, highlighting that belief and competence are essential for achievement in enterprise.
He additional identified that many native enterprise homeowners favor hiring international managers as a result of they battle to seek out dependable native workers, a development he mentioned is damaging to Ghana’s human useful resource status.
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Emphasising the significance of loyalty and integrity, Mahama urged entrepreneurs to watch out in regards to the folks they convey into their ventures.
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He warned that with no robust tradition of duty, no industrial sector can thrive, including that companies destroyed by greed and mismanagement hurt the broader financial system.
