Government urged to support indigenous businesses to grow
Mr Stephen Kwabla Mensah, the Eastern Regional Chairman of the Council for Indigenous Business Association (CIBA), has urged the government to support indigenous businesses to grow to create employment.
He said both the past and the present governments had given some form of support but due to some challenges the expected effect could not be achieved.
Mr Mensah was addressing members of CIBA and other stakeholders at the Eastern Regional re-branding of the Association and the launch of a GH¢200,000.00 Business Support Fund (BSF) at Koforidua.
The rebranding was organised on the theme, “Arise and Shine”.
The BSF launched by the Eastern Regional Secretariat of CIBA aims at raising a revolving fund to support its members.
Mr Mensah explained that the BSF would be used to support registered members of the Association to save them from the higher interest rates charged by the micro-finance institutions.
He said the Region had put in place diverse and innovative strategies to invigorate CIBA and it had contracted Fapimpa Sini-Mboa, a social enterprise firm, to spearhead its activities.
He called on the Government to expedite action on the high electricity and water tariffs to help sustain businesses because some businesses were collapsing under the payment of higher tariffs.
Mr Shallovern Srodah, the National President for CIBA, asked members to pay loans offered them to ensure the sustainability of such facilities.
He urged members to be innovative in their business to attract more customers.
Mr Kwabena Okyere Kusi, the New Juaben Municipal Chief Executive (MCE), called on members of CIBA to support the government policy to introduce the solar system and help reduce their cost of production.