President of the Ghana Chamber of Commerce and Industry (GCCI), Mr Seth Adjei Baah ?
President of the Ghana Chamber of Commerce and Industry (GCCI), Mr Seth Adjei Baah ?

The Ghana Chamber of Commerce and Industry (GCCI) says local companies lack the financial muscle to engage with government in its Public Private Partnership (PPP) programme.

President of the Ghana Chamber of Commerce and Industry (GCCI), Mr Seth Adjei Baah ?
President of the Ghana Chamber of Commerce and Industry (GCCI), Mr Seth Adjei Baah
?

According to the GCCI lack of capital coupled with high interest rate that Commercial Banks charge on loans makes it impossible for Ghanaian companies to partner with government in its PPP drive.
?Government?s aim of setting up the PPP is to encourage and support the private sector to develop and grow to a new level. And it is something the private sector welcome the idea but unfortunately the indigenous private sector in Ghana are not able to partner with government because they don?t have what it takes to for when there is a project government is looking for partnership.?

A PPP programme is to attract significant funding and expertise from the private sector to develop infrastructure and provide services on behalf of government. The arrangement ensures that there is a significant degree of risk-sharing between the public and private sectors.

Speaking to Citi Business News President of the Ghana Chamber of Commerce and Industry Dr. Seth Adjei Baah blamed government?s excessive borrowing from the local financial market as one of the main causes of the setback.
?It?s a project that is huge that government needs capital injection and unfortunately we don?t have such capital and we can?t borrow from the local banks because the rate of interest is already collapsing the business even before its start.?

So yes it is good but we have to look at in a way that the local private sector can be able to partner with the government to have the exposure to grow the business to create wealth which the wealth will stay in this country. – Dr. Seth Adjei Baah said

Source:
Norvan Acquah – Hayford

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