Help grow the local consumption; Mr. Ashigbey charges Business leaders

The Managing Director of the Graphic Communications Group Limited, Mr Ken Ahsigbey, has called on Business leaders in the country to help grow the local consumption as means to strengthen the economy.

He made this call when he addressed stakeholders in the business sector at the Graphic Business – Fidelity Bank Business forum, held at Alisa hotel in Accra on Thursday under the theme “The Economy and Prospects For Business Confidence”.

Grow local comsumption

Mr. Ashigbey said, the  effect of the activities of Business leaders is paramount in impacting on the country's economic fortunes, for that reason Business leaders must lead the way in patronizing more Ghanaian products  and also support  brand Ghana as a way of growing the local consumption.

‘'The speculative effects of some of our activities also have impacts on our economy. My call on all business is that we need to help grow local consumption.

We need to help each other fail forward. It will require some sacrifices of some of the short term gains by taking the easiest routes of overly depending on imports when there are local substitutes will have to stop’’. He said.

Busisnes Confidence

On business confidence, he opined that business confidence is very important as an economic indicator that will measure the amount of optimism or pessimism that business managers feel about the prospects of their companies.

As a result he expressed worry over the falling commodity prices, rising interest rates, mounting inflation, a trailing currency against the major foreign currencies, combined with acute power crisis which is plunging the country into difficult times and loss of business confidence in the country.

He therefore called on the government to ensure that fiscal and monetary policies are pursued in ways that ensure that their impact on inflation, wages, interest rates and exchange rates are positive to promote rapid growth in GDP, jobs and exports.

Black market activities

Mr. Ashigbey also expressed concern over the activities of the thriving black market business in the country particularly in the capital which in his view also contribute to heightening of unnecessary pressure on the local currency.

He therefore called on the Minister of Finance to take note of the illegal activities and get the IGP and other security forces to take action to stop them from operating.

''I call on the Minster of Finance our Special Guest of Honour to take note of the activity of the thriving black market around the airport round about.

The activities of these men should be visible to the police, immigration and GRA officials whose offices are quite close to where these people operate. Please get the IGP and security forces to take action to stop them from operating''

He also appealed to the general public to stop patronizing their services since that is the only way to keep them out of business.