BUSAC Fund not working capital for private entrepreneurs – Manager

Mr Nicolas Gebara, Business Sector Advocacy Challenge Fund (BUSAC) Manager, on Wednesday emphasized that the fund was not meant as a working capital for private sector businesses.

He explained that BUSAC was set up purposely to provide grants for private businesses to undertake advocacy actions and contribute to the improvement in the business environment.

Mr Gebara made this known at the opening ceremony of a two-day sensitization workshop for public sector officials in Brong-Ahafo in Sunyani.

The workshop was attended by Municipal and District Coordinating Directors and some Heads of Departments and was aimed at sensitization participants on the activities of BUSAC in the region.

Mr Gebara explained that, as a developing country like Ghana, the role of the private sector to the growth of the Ghanaian economy was important, and indicated that they should help remove the bottlenecks and hindrances so that the private sector could grow, produce goods and services and pay adequate taxes to the government.

He noted that the private sector is key to local economic development and that they contribute towards the creation of employment, adding that, the sector is also a source of income generation that would be stabilized for the local community in terms of securing jobs and offering employment opportunities for the upcoming generation.

The BUSAC Fund Manager said the public and private sectors needed to create a common platform that would bring together the parties to establish a constructive dialogue and mutual understanding on economic development issues.

Mr Gebara noted that when entrepreneurs were given conditions and opportunities to develop, they would provide the unemployed youth with job opportunities and also contribute immensely to poverty reduction.

Source: GNA