PEF honours Asare Akuffo
The Private Enterprise Federation (PEF) has applauded the former Managing Director of HFC Bank, Mr Asare Akuffo, for what it described as his sterling leadership and efficient performance which contributed to making the federation stronger as the pivotal voice of the private sector.
A statement by PEF said through the instrumentality of Mr Akuffo as President/Chairman of the Governing Council of PEF, the federation had become a true representation with a credible voice for the domestic private sector in the country.
“Today the membership of the federation has considerably increased from a six-member club when you took over to a viable 14-member organisation constituting in excess of 70 per cent of the entire economic activity of the nation,” an accompanying citation in his honour stated.
Mr Akuffo was decorated with the honour at a ceremony in Accra to recognise his leadership and valuable contributions to the development of PEF.
The citation recounted how the Ghana Association of Bankers nominated him in 2007 to represent it on the PEF Governing Council. Through his dedication to duty, the federation elected him President of the Council.
“Thanks to your efficient and effective leadership, the federation is confidently poised to ensure that the aspirations of a competitive domestic private sector are fully optimised to make it the reliable pillar for a sustainable economic development of our dear country Ghana,” PEF added in the citation.
In response, Mr Akuffo emphasised the importance of the private sector to the economy of Ghana, noting in spite of the importance of the public sector, it lacked the confidence to demand from government the needed investment that would enable it to operate more efficiently to match competitors offshore.
Describing the current business environment as ‘very harsh’, he lamented the high interest rates, unstable local currency and the perception of corruption in the economy.
Mr Akuffo, who with his colleagues served PEF without any fees or allowances during his tenure, thanked his colleagues for their support and encouraged them to keep knocking on the doors of government boldly, until the urgent need to make Ghana truly business friendly became a reality.
Last year, the Ghana Association of Bankers and the Ghana Corporate Initiative conferred similar honours on him at separate events in Accra. —GB
