FOR Ghanaian companies to expand and dominate the African market with quality products will hinge on factors such as tax competitiveness and cost efficiency, the Chief Executive Officer (CEO) of Promasidor Ghana Limited, Festus Tettey, has said.
He explained that access to affordable capital enables businesses to invest in innovation, infrastructure and efficiency to drive growth and competitiveness in the market.
“In Africa, micro economic situations fluctuate and so it’s hard that sometimes we businesses feel the crunch of these difficulties.
What industry needs, especially the food industry or manufacturing and business in general, to improve is for government to ensure that we get low cost capital to produce and that will make us competitive even within the West African sub region,” he said.
Mr Tettey was speaking in an interview with the media on the sidelines of a thanksgiving service last Friday in Accra to kick off the 25th anniversary celebration of Promasidor Ghana Limited.
The event was on the theme: “25 Years Of Nourishing Ghana With Our Creamy Goodness.”
“Today we are exporting to numerous countries but the key thing is how we compete on taxes and cost of operation. We are playing on the same field with our neighbouring countries in the sub-region so if we don’t have competitive cost of capital it will be very difficult to compete with our peers in other countries so good cost of capital and competitive taxes are key to enabling our industries to expand and dominate West Africa with quality products from Ghana,” he said.
He said: “For as long as many Ghanaians can remember, Cowbell is that iconic brand that keeps supporting students, parents, children, workers and the general public with nutritious milk any day.
Source: GraphicOnline
