ADVERTISEMENT
How Osafo Marfo plans to make Ghana's economy business-friendly
Appearing before the Appointments Committee of parliament on Friday, Osafo Marfo said he had realised that land acquisition and rent are major difficulties facing businesses in the country.
___6086573___https:______static.pulse.com.gh___webservice___escenic___binary___6086573___2017___1___20___14___cedi+notes
He said: “To really make the environment business friendly, we’ve got to look again at our land acquisition system in this country and as a Senior Minster coordinating these economic ministries, that will be one of my [focuses].”
READ ALSO: NPP gov't will review IMF deal - Osafo-Maafo
According to him, “People come ready to invest and some of them are put off because of multiple sale of land to them. Sometimes, it is embarrassing. Some of these problems look small but they are complicated.”
ADVERTISEMENT
He said: “Rent system in this country is a problem. There is nowhere in the world where you pay rent advance for two years. If you go to Germany now by law you can’t take rent for more than three months. In our part of the world, people can take [rent advance] for two years. When there was a problem in Cote d’Ivoire, people wanted to relocate from Cote d’Ivoire to Ghana and I was involved, but they were put off by the rent advance. This is because if he was going take a premises for $5000 and he is to pay for two years in advance…you’re taking his working capital.
“Therefore, these are some of the things which may not look too obviously harmful to the economy but it’s harmful to the economy. Many of them were not prepared to borrow additionally to rent houses in Accra and, therefore, they moved to other places. So these are areas we have to look at to make the environment business-friendly.”
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Police arrest 1 person in connection with Odumasi-Badu Road robbery in Bono Region
Asantehene urges government to involve private sector in GRIDCo, ECG, VRA and others
Robbery attack claims life of University of Energy and Natural Resources student
11 out of PNC's 16-member NEC resign, form new party called PNP
Informal workers beg for cash to cope with cost of living crisis — Report
Report reveals 850,000 Ghanaians pushed into poverty by gov't debt and market closures
'Businessman' remanded over robbery of former second lady and others at gunpoint
Efforts underway to bring jailed ex-MASLOC CEO to Ghana to serve prison term - Deputy AG