The founder of steel manufacturing company -B5 Plus Limited, Mukesh Thakwani has said Ghana is the best destination for doing business in West Africa.
According to the astute Indian businessman, even though Ghana is a perfect location in doing business, the sudden fall of the Ghanaian cedi is affecting businesses greatly especially the manufacturing sector.
He believes the rapid fall of the Ghanaian cedi against other major foreign currencies can kick investors out of the country which could affect the country’s economy.
In an interview, the multiple award-winning business leader pleaded with the government to as soon as possible roll out measures to stabilize the cedi to revitalize the country’s falling economy.[ads4]
“Ghana is a great place to do Business and we are very optimistic about it , yes we are going through alot of challenging times but am sure that with time government will be able to solve the current exchange issues and we will be moving forward positively, so we believe in Ghana and we are sure that we will be able to come out of it and come as better Ghana”.
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The Ghana cedi continued its free fall, losing value twice within a day to sell at ¢14.50 to one US dollar. This translated to 5.45% depreciation in a day and 17.5% in four days of the week.[ads3]
Meanwhile, as part of moves to stabilize the depreciating Ghanaian cedi against major foreign currencies, the Bank of Ghana On Tuesday, October 25 held a meeting with the Managing Directors of banks and some forex bureaux in Accra.
The meeting was also part of efforts by the New Patriotic Party (NPP) government to halt the overpricing taking place in Accra.
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