{"id":6860,"date":"2024-05-07T12:44:20","date_gmt":"2024-05-07T12:44:20","guid":{"rendered":"https:\/\/sotnews.agency\/?p=6860"},"modified":"2024-05-07T15:05:32","modified_gmt":"2024-05-07T15:05:32","slug":"exit-of-foreign-companies-from-ghana-gives-opportunity-to-local-entrepreneurs-yankah","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=6860","title":{"rendered":"Exit of foreign companies from Ghana gives opportunity to local entrepreneurs \u2013 Yankah"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>2 Minute, 32 Second <\/div>\n\n <\/div>

Founder of the Pan African Heritage Museum (PAHM), Kojo\u00a0Yankah, has called for support for indigenous businesses in\u00a0the wake of reports of expat companies exiting Ghana.<\/strong><\/p>\n

In his view, the exit of foreign companies presents an opportunity for local entrepreneurs.<\/p>\n

\u201cForeign companies leaving Ghana? An opportunity for Local Entrepreneurs! Let\u2019s support local entrepreneurship,\u201d the Founder of the African University College of Communications (AUCC) wrote on his Facebook page.<\/p>\n\n

After nearly 20 years of operations in Ghana, French bank Soci\u00e9t\u00e9 G\u00e9n\u00e9rale has decided to withdraw from Ghana.<\/p>\n

Soci\u00e9t\u00e9 G\u00e9n\u00e9rale has engaged investment bank Lazard to explore potential buyers for its operations in Ghana, Cameroon, and Tunisia. There are indications that Absa Bank is seriously contemplating acquiring these subsidiaries, sources say.<\/p>\n

The departure of European banks from Africa, including Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, is primarily attributed to the high cost-to-income ratio.<\/p>\n

For his part, an Economist, Professor John Gatsi, expressed concerns about the exit of some multinational companies from the Ghanaian economy.<\/p>\n

The Dean of the University of Cape Coast School of Business lamented the rising cost of doing business and the Cedi depreciation as hostile to businesses.<\/p>\n

Prof. Gatsi observed that the trend should be a worry for all Ghanaians, as the departure of these companies largely leads to job losses.<\/p>\n

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\u201cThe entry of international companies into the country was received with gladness because of the positive effect on employment, revenue generation and also because it signaled to other companies of a favorable business environment.<\/p>\n

\u201cThe recent exit or planned exit from Ghana by multinational companies must be a worry for all Ghanaians. The environment is hostile and unsupportive of businesses.<\/p>\n

\u201cI thought we have a Minister in charge of business development? What of environment? I thought we have a Minister in charge of industry. Let us be serious. I thought the government should be telling us what is going on,\u201d he wrote in a post on Facebook on Saturday.<\/p>\n

READ ALSO:<\/strong><\/h6>\n

Govt remains committed to ensuring sustained growth & stability of Ghana\u2019s economy \u2013 Amin Adam tells IMF<\/a><\/p>\n

He noted, \u201cI bought a dollar for GHS13.70 from a Forex bureau two weeks ago. I\u2019m told today l need GHS14.70 to buy one dollar. What is going on? Who will tell us something?\u201d<\/p>\n\n

Furthermore, the Economist questioned the basis of claims by the NPP\u2019s 2024 presidential candidate, Vice President Dr. Mahamudu Bawumia, suggesting that chiefs would be key in issuing mineral licenses if elected.<\/p>\n

\u201cI thought per Article 257(6) of the Constitution Chiefs do not own mineral rights and thus cannot issue mineral license? What is really going on? Who is promising Chiefs they will give licenses?\u201d he quizzed.<\/p>\n

The NPP flagbearer spoke to the chiefs in the\u00a0Western Region<\/a> as part of his regional campaign tour on Thursday, May 2.<\/p>\n

Dr. Bawumia said, \u201cWe want to formalise the small-scaling business, but we cannot be successful without the involvement of the chiefs.\u201d<\/p>\n

The post Exit of foreign companies from Ghana gives opportunity to local entrepreneurs \u2013 Yankah<\/a> first appeared on 3News<\/a>.<\/p>

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Founder of the Pan African Heritage Museum (PAHM), Kojo\u00a0Yankah, has called for support for indigenous businesses in\u00a0the wake of reports of expat companies exiting Ghana. In his view, the exit… <\/p>\n","protected":false},"author":1,"featured_media":6939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-6860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/6860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6860"}],"version-history":[{"count":1,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/6860\/revisions"}],"predecessor-version":[{"id":6940,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/6860\/revisions\/6940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/6939"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}