{"id":7207,"date":"2024-05-08T17:25:38","date_gmt":"2024-05-08T17:25:38","guid":{"rendered":"https:\/\/sotnews.agency\/?p=7207"},"modified":"2024-05-09T12:50:35","modified_gmt":"2024-05-09T12:50:35","slug":"societe-generales-exit-will-hurt-ghanas-economy-worsen-unemployment-dr-atuahene","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=7207","title":{"rendered":"Soci\u00e9t\u00e9 G\u00e9n\u00e9rale\u2019s exit will hurt Ghana\u2019s economy, worsen unemployment \u2013 Dr. Atuahene"},"content":{"rendered":"
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Dr. Richmond Atuahene, a banking consultant, has commended French Bank Soci\u00e9t\u00e9 G\u00e9n\u00e9rale for its decision to withdraw from the Ghanaian market, describing it as a prudent business move.<\/p>\n

Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, having operated in Ghana for two decades, has decided to exit the country, alongside similar exits from Tunisia and Cameroon.<\/p>\n

According to Dr Atuahene, the move by Soci\u00e9t\u00e9 G\u00e9n\u00e9rale may prompt other banks to follow suit, attributing the trend to the government\u2019s failure to create a conducive business environment for financial institutions.<\/p>\n

He said the exit of multinational companies from Ghana will tend to hurt the economy and worsen the unemployment rates of the country.<\/p>\n

\u201cIt is going to make our unemployment situation worse and you know, SG [Soci\u00e9t\u00e9 G\u00e9n\u00e9rale]has been in the country for twenty years and they have participated in the cocoa syndication and some other businesses but now they are going.<\/p>\n

\u201cIt means that they are no more there with the cocoa syndication and they are going with their taxes and so we are not going to get corporate taxes from them and so it will affect our fiscal situation.\u201d<\/p>\n

Furthermore, Dr. Atuahene cautioned that the departure of multinational corporations like Soci\u00e9t\u00e9 G\u00e9n\u00e9rale signals a lack of substantial economic progress, contrary to assertions made by institutions like the World Bank and IMF.<\/p>\n

\u201cWith all the literature that the World Bank and IMF, especially the Bretton Woods institutions saying the economy is turning around, these international banks have strong research departments and they have studied the variables that make economic indications very stable and they have seen it and they know it is not going to happen today or tomorrow. So the earlier they pack their bags, the better for them.\u201d<\/p>\n

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The post Soci\u00e9t\u00e9 G\u00e9n\u00e9rale\u2019s exit will hurt Ghana\u2019s economy, worsen unemployment \u2013 Dr. Atuahene<\/a> appeared first on Citinewsroom – Comprehensive News in Ghana<\/a>.<\/p>

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Dr. Richmond Atuahene, a banking consultant, has commended French Bank Soci\u00e9t\u00e9 G\u00e9n\u00e9rale for its decision to withdraw from the Ghanaian market, describing it as a prudent business move. Soci\u00e9t\u00e9 G\u00e9n\u00e9rale,… <\/p>\n","protected":false},"author":1,"featured_media":7275,"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-7207","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\/7207","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=7207"}],"version-history":[{"count":2,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/7207\/revisions"}],"predecessor-version":[{"id":7284,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/7207\/revisions\/7284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/7275"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}