The engagement is part of activities aimed at creating a social contract between the government and the citizenry to trigger constitutional, political, and economic reforms. As well as setting long-term vision and goals for the development of the country.
The secretary to the Commission, Ms. Lucille Hewlette-Annan, noted in a remark that challenges facing the private sector are well known, but was quick to add that it is imperative to get the industry players themselves to bring them out.
She therefore encouraged participants to make known their problems and suggest practical solutions to them for incorporation in the social compact document.
In a contribution, Mrs. Hajara Rufai, a member of the Commission, said challenges identified, proposed solutions, and suggestions made would be reviewed and documented by A.C.E.T. Based on which findings and recommendations will be sent to the government for deliberation, consideration, and implementation.
Giving an overview of the initiative, Mr. George Boateng a senior analyst at A.C.E.T said Ghana’s economy for instance has not improved in the last 35 years because we have failed to add value to our raw materials.
He said his outfit is collaborating with six other institutions to look at issues affecting the development of the country in areas like the economy, health, climate change, national planning, gender and youth among others. He expressed the hope that these challenges can be addressed through the institution of a social compact to guide the development of the country in a long term.
Mr. Boateng averred that the initiative has the backing of government. He has consulted with some key stakeholders like Parliament, political parties, National House of Chiefs, civil society organizations, Trades Union Congress and religious bodies to share ideas on the challenges militating against the growth of the country.
The Bono East regional director of the N.C.C.E Mr. Joseph Kwaku Yeboah who made a presentation on the private sector identified: difficulties in loan acquisition, high interest rates, bad roads, inadequate water supply, poor sanitation and power supply and inadequate internet coverage as some of the challenges they face.
He also spoke about high cost of utilities, bottlenecks in business registration, challenges in getting access to land, lack of skilled labour and political interference.
He urged participants to bring up the challenges they face in their businesses and suggest solutions, as well as make recommendations for inclusion in the social contract document.
Participants during a group session looked at how to reduce the risk of doing business in the country in order to drive down interest rates to enhance access to appropriate financing for the private sector.
They also considered how small-scale businesses could be supported to grow into large entities, protecting businesses from political interference and vendetta. The use of technology and innovation to grow businesses and how public-private partnerships could be developed to provide critical infrastructure like roads, especially in rural areas.
The groups also made a number of suggestions aimed at resolving the challenges identified for the benefit of the social compact document.