The Nation Managing Associate of Deloitte Ghana, Daniel Kwadwo Owusu has urged the federal government to guarantee Enterprise Leaders that the current appreciation of the cedi is just not momentary.
In accordance with him, some companies are unsure about the way forward for the cedi.
“There are additionally the problems about excessive utility tariffs, excessive transportation prices and the overall value of doing enterprise”, he disclosed this on the 9th Ghana CEO Summit and Expo.
Talking on the subject “Remodeling Enterprise and Governance for Ghana’s Financial Reset”, Mr. Owusu suggested the federal government to keep away from short-term measures that don’t create lasting stability with out basic reforms.
He continued {that a} robust foreign money is nice, however it doesn’t robotically decrease costs if home value pressures (transport, vitality) will not be tackled.
Diversify Economic system to Make it Stronger
He additionally referred to as for the diversification of the economic system for the reason that Ghanaian economic system remains to be over reliant on gold and cocoa, including, “Diversification will make our economic system much less susceptible to these massive world worth swings”.
“Taking a retrospective of 2017 after the IMF bailout programme, the cedi recovered for a interval and inflation fell to about 11.8%. Apparently, as it’s occurring now, shopper costs didn’t drop considerably”, he said.
“They stayed comparatively excessive due to these deeper structural points within the economic system that haven’t been addressed”, he added.
Companies Should Reply to Adjustments in Economic system
In the meantime, Mr. Owusu urged companies to reply to the adjustments within the economic system.
He expressed fear that sure firms are nonetheless quoting completely different charges for international change in comparison with these from the Financial institution of Ghana, saying, this isn’t a reset behaviour.
“I’m talking to CEOs as a result of there can’t be an financial reset until we rework as a folks”, he alluded.
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DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially characterize the views or coverage of Multimedia Group Restricted.
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