We lack ideas to develop our economy -Hon Rasheed Pelpuo

The Minister of State in charge of Private Sector, Hon Rasheed Pelpuo has asserted that Ghana’s economy is facing challenges because of what he calls lack of thought and direction by those at the helm of affairs.

The minister who expressed worry over the economic challenges facing the country stated that the economy is not progressing the way we wanted it not because we do not have people but rather these people lack the ideas and direction to make it progress.

Hon Rasheed Pelpuo called for a paradigm shift from exporting raw primary products into finish products in order to grow the economy.

“We still believe so much in exporting raw primary products outside the country. We need to change this mentality if we want to grow this economy,” he pointed out.

Hon. Rasheed Pelpuo who was the guest speaker at the 25th anniversary of Margins Group commended the Chief Executive Officer of Moses Kwesi Baiden for growing a $100 company to a multinational African company.

“25 years in the life of a business in Ghana is a huge success,” Hon Rasheed Pelpuo stated.

He described as sad that in Ghana business owners mismanage both their working capital and profits and end up collapsing the business.

He congratulated Margins Group for adopting innovative approach and surviving in a business environment where business starts and collapse along the way.

Hon Rasheed Pelpuo who pledged government continuous support to the private sector charged successful businesses to inspire young people to develop their potential for them to be able to create value out of it.

In a welcome address the Chief Executive Officer of Margins Group Mr. Moses Kwesi Baiden recounted how the company which started with $100 has expanded over the past 25 years.

“Our start up with $100 capital and our growth into multinational African company headquartered in Africa, in an African environment shows our resilience and determination,” he noted.

He added that “The quest to go global requires vision, focus, determination, teamwork, great ingenuity, creativity, passion and excellence.”

Mr. Moses Baiden who commended both past and present staff of the compay for contributing to the success of the company stressed that Margins Group is an innovative, creative, passionate, and optimistic company.

Story by: Michael Creg Afful

#Business #Headlinesnews