The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has made a plea to multinational companies, urging them not to withdraw from the Ghanaian market.
His appeal comes in light of a trend where several multinational corporations have opted to relocate their operations away from Ghana due to economic challenges.
The economic landscape in Ghana from 2022 to the present has compelled numerous multinational companies to consider relocating part or all of their business operations to other countries.
2024 CEO Summit-The most recent departure is that of Glovo, a prominent food delivery giant in Africa. The Spanish firm announced its decision to exit the Ghanaian market on May 10, 2024, citing profitability challenges and a reassessment of investment priorities.
Addressing attendees at the 8th Ghana CEO Summit held in Accra on Monday, May 27, Mr Mahama expressed concern over the potential adverse effects of multinational companies leaving Ghana.
The former President stressed that such departures would have detrimental impacts on job creation, tax revenue generation for the state, and overall economic growth.
“Amid all the companies leaving, our public debts have hit a staggering 658.6 billion cedis. But we cannot despair over the poor quality of governance that has served us in the last seven and a half years.”
“I use this opportunity to appeal to you captains of the industry to tarry a bit more. Please don’t leave our country. There is a saying that the darkest hour is before the dawn,” he said.
Additionally, Mr Mahama pledged to establish a favourable environment for companies to conduct their operations if the NDC secures victory in the 2024 elections.
According to him, this commitment reflects the party’s dedication to fostering a supportive business climate aimed at attracting and retaining multinational corporations, thereby stimulating economic growth and prosperity in Ghana.
“The beauty of our democracy is that it affords us the opportunity to change our current trajectory. You can be rest assured that the new NDC administration will create a conducive environment for businesses to thrive,” he insisted.
Source: myjoyonline.com
