General

Form strong ties to traverse economic challenges-Businesses told

Some leaders in the private sector have urged businesses to establish strong partnerships and share solution-oriented ideas to overcome the economic challenges facing the country.

That, they said, would be critical in making businesses stable and profitable, and position them to contribute enormously to national, regional, and global development.

The business leaders proffered these solutions during a networking session in Accra organised by the Horizons Offices – a company that provides world-class working spaces to African businesses.

Madam Marie Keita Amarteifio, Chief Executive Officer (CEO), Askia Immigration Consulting Services, said the current macroeconomic environment required a blend of professionalism, strategic networking, and a commitment to continuous learning among businesses.

‘Professionalism is not just a practice; it is a catalyst that ensures client satisfaction and enables businesses to navigate and surpass the hurdles posed by the macro environment,’ she explained.

She noted that in
today’s changing global economic landscape, the concept of building a sustainable business transcended a mere rhetoric, saying sustainability had become an imperative for the survival of businesses.

‘Navigating the intricate relationship of social, environmental, and economic challenges underscores the necessity not only to thrive in the present but also to endure for the future,’ Mad Amarteifio said.

In an interview with the Ghana News Agency, Mr Divine Akaba, Regional Commercial Head, English Speaking Africa, Medtronic, said: ‘We [businesses] cannot continue to tell the government to do this and that to survive. We must, therefore, find ways to partner and see what solution each other has, and utilise them.’

Mr Carlis Ebow Arko, Country Manager, Horizons Offices, said in a macroenvironment where inflation, policy rate, and exchange rate were high, sustainability of businesses was key.

He also recommended that businesses formed strategic alliances and worked out innovative ways to reduce the cost of doin
g business, including resorting to lower borrowings.

‘Businesses must also ensure that they give what the customers’ want so, that you’ll be able to make more money and survive,’ Mr Arko said.

He explained that the networking event was to enable businesses bond and give to themselves, solutions, where there were challenges.

Doing so, he said, provided an avenue to understand various businesses and their operations, and identify opportunities for partnerships and tap into them.

Source: Ghana News Agency