Obsolete legislation impeding growth of businesses — BUSAC
The Business Sector Advocacy Challenge Fund has called for a constant revision of the various rules and regulations governing the operations of businesses in the country.
That, it said, was necessary to ensure that laws that had outlived their usefulness and were, therefore, irrelevant and inimical to the growth of businesses were scrapped or, at best, replaced.
The Fund Manager of BUSAC, Mr Nicolas Jorgensen Gebara, who said this in an interview in Accra, added that failure to do so could create a difficult environment for the private sector.
“We have realised that the regulatory framework requires constant update so that the outmoded rules and regulations that are impeding business operations can be constantly updated,” he told the Daily Graphic.
Mr Gebara spoke to the paper after the BUSAC Fund, an advocacy and financial anchor to businesses in the country, brought private sector players together to deliberate on the issues facing them. The dialogue was also to outline the ways in which such challenges could be solved to help create an enabling environment for business growth.
It was attended by members of the various business associations, advocacy institutions, government officials, among others.
“BUSAC doesn’t make decisions for businesses but we are concerned with the kind decisions made because such decisions go a long way to affect the businesses,” the fund’s manager said.
Mr Gebara had earlier said that BUSAC had, over the past eight years, disbursed about GH¢29 million as grants to local businesses and pledged the fund’s commitment to increase the amount.
The Chief Executive Officer of the Private Sector Development Secretariat, Mr Joe Tackie, who represented the Trade and Industry Minister, Hon Haruna Iddrisu, said business associations in the country needed to undertake effective research into the issues affecting them to enable them to advocate properly.
He also commended the BUSAF Fund for articulating the views of businesses over the years and called on it to continue in that regard.
The views gathered at the workshop are expected to serve as the bases of advocacies to be carried out by business organisations in the coming days.
Story: Maxwell Adombila Akalaare