Ghana Cedi
Ghana Cedi

Nana Dr Appiagyei Dankawoso I, President of the Ghana National Chamber of Commerce and Industry (GNCCI) Wednesday said, its members expect President Nana Addo Dankwa Akuffo-Addo to outline measures being taken by his government towards stabilising the cedi, in his State of the Nation Address to Parliament, on Thursday, to help boost private businesses.

Addressing the media after a business visit to Toyota Ghana Company Limited (TGCL) and Japan Motors Trading Company (JMTC) in Accra, he said the economy would be much stronger if private businesses thrived, therefore, the depreciation of the Cedi in recent times was of great concern to them.

The cedi had remained relatively stable been since the Government took over the running of the economy in 2016, but over the past three months it has been struggling, with the current rate hovering around GH5.20 pesewas to the dollar.

The visit was to familiarise with activities of both automobile companies, be abreast with challenges in the automobile industry and also discussed ways of addressing those challenges.

The members and executives of the Chamber were shown around the facilities in both companies and briefed on the daily operational activities.

At TGCL, Mr Takuya Kajiura, Chief Executive Officer (CEO) of the company, said TGCL since its incorporation in Ghana in 1998, had expanded from an initial two branch company to four with sales and aftersales facilities in Accra, Kumasi, Tema and Tarkwa.

He said as part of TGCL’s vision to expand, they would be moving into an ultramodern office located along the Tema Motorway by the second half of the year.

Mr Kaiura said, TGCL had made strides in supporting the developmental agenda of government through its Corporate Social Responsibility and commits some percentage of its annual profit to community development projects in health, environment and road safety.

Mr Salem Kalmoni, Managing Director of JMTC thanked the Chamber for the visit, which he said, was the first by any Association to the company.

He said over the 100 years of the company’s existence in Ghana, it had grown from strength to strength and now had three brands of vehicles – Nissan, Foton and Yamaha – under its distribution belt.

He said JMTC had been inducted into the Chartered Institute of Marketing (CIMG) Ghana Hall of Fame, in recognition of the company’s top-notch service in Ghana’s automobile industry, which had seen it achieve a milestone and grown to become the premier automobile company that deals in Nissan, Yamaha and Foton brands in Ghana.

He said the company had employed over 700 people in the country and was engaged in other developmental agenda as part of its contribution to the economy.

Mr Kalmoni, however, appealed to government to make regulations to control the number of used cars being imported into the country.

“Such vehicles are unhealthy, not tropicalized and too old, and this is not good for the safety of the nation, not good for the environment and ultimately not good for the consumer. So we are appealing to government, in the interest of the nation, to control second hand vehicles like the way other African countries such as Cote D’Ivoire have done,” he said.

On the visit, Nana Dr Appiagyei commended both companies in separate addresses for the excellent services to the people of Ghana. He said for the business community to stay competitive, it must adopt modern operations and management strategies such as: technology and innovations, good corporate governance practices, good customer care and modern training techniques.

The GNCCI President said the Chamber was committed to serving as the link between the private sector and government at various levels, while offering its members a myriad of business support services.

He said it was the hope of the GNCCI that the visit would deepen the mutual relations between the Chamber and the two automobile companies to compliment the industrial growth agenda of the government.

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