Views: 256 Ishmael Junourgh, Accra, Sept 26, 2019, 11.00am, Thurs The Stanford Seed Business Transformation Network has organised a conference targeti...
Ishmael Junourgh, Accra, Sept 26, 2019, 11.00am, Thurs
The Stanford Seed Business Transformation Network has organised a conference targeting at leap frog Ghanaian businesses above the challenging business ecosystem in Accra.
The occasion is was under the theme: “Scaling in a Difficult Environment.”
The organisation believed that “the growth prospects of businesses and the quest to transform the Ghanaian business outlook.”
For the objectives of the conference, the President of the Standford Seed Transformation Network Ghana, Constance E. Swaniker stated them as follow: to empower business leaders to scale up in the face the challenges, and to share experiences and learn new ways to confront the challenges.
She also reiterated some of the challenges to include, limited access to capital through the banks and short expected periods of capital returns to the banks, and that relative high cost interest rates was making business tasking-hard.
She expressed optimism that in the end the conference captains were to brainstorm ways of scaling up the industry above the hard business eco system.
In the keynote address, the CEO of the Homefoods Processing and Cannnery Ltd, Felicia Twumasi said it was difficult trading in Ghana, and yearly “your net-value keep dropping because of the interest rate.”
She, however, said the challenge was not with cash, but people with right skills and the right capability propel the business engines.
She said business leaders needed and logic to boost their activities.
She did not see any wrong in firing and recruiting the right staff that can leap frog the business above the challenges.
She advised the participating leaders to consider the option of creating a “sinking fund” as shock-absorber during shakes.
The gust soeaker,president of the UT Holdings, Prince Kofi Amoabeng in his address said “you reach the number 150 you must reinvert yourself,” regretting that he had missed that sometime ago and that marked the beginning of troubles in the banking business.
Indeed he explained that it was necessary to hand over the leadership of a business to preferrable a foreigner and to seen as the owner in order to wade of hatred from people as that seems to characterised the African culture.
He said the culture was time wasting, for example, people spend a lot of time on greeting, and the people were not living in the urgency of time and therefore out of business ethics.
The CEO said he said the African culture was a bane for Africa business becuase most African hate to see people they know succeed.
“We hate people who are outstanding. ”
He said as a result, business rules were not followed through by most African business people.