Ghana’s quest to bounce back from the dip recorded by some Sustainable Development Goals (SDGs) as a result of the Covid-19 pandemic, can happen with the active participation of private sector.
Players in the sector according to experts are crucial to nation-building and must be allowed by government to undertake certain development projects to reduce borrowing and ensure debt sustainability.
These were suggestions unanimously made by Dr Charles Boamah a Former Senior Vice President at African Development Bank and Hamdiya Ismaila, General Manager of Venture Capital Fund one of the panel discussion at the ongoing, 2020 Accra SDGs Investment Fair.
The three-day fair seeks to provide a platform to explore new opportunities within the new normal, identify innovative ways to access financial resources during the Covid-19 pandemic and recovery, share experiences relating to individual and corporate adaptability in the wake of Covid-19 and rebuilding momentum for the implementation of the SDGs.
Speaking on the topic, “Financing for Development and the New Normal” Dr Boamah said one factor that was derailing private sector participation was lack of trust among the private people, the government and the citizenry and government could raise funds to implement SDG programmes by increasing taxes, and deepening the capital market.
Dr Boamah said much attention should also be focused on building trust among citizenry, private sector and the government to facilitate workflow and State-Owned Enterprises with financial commercial viability must be weaned off state funds and allowed to borrow to operate.
Madam Ismaila said SDG goal eight and nine could be achieved if the government and the private sector worked hand-in-hand.
“With the participation of the private sector, government initiatives like one-district-one factory (1D1F) and planting for food and jobs. If the 1D1F is left for the private sector to look to raise funds to build, operate and transfer it,” she added.
In the financial sector, she urged the regulators to build a stronger synergy between them and financial institutions to build confidence.
Latest Stories
-
Ghana to evacuate citizens from Iran – Foreign Affairs Minister
15 minutes -
BoG expects inflation to trend down to end-year-target – First Deputy Governor
15 minutes -
Ghana’s embassy in Tehran shut with immediate effect over Iran-Israel war
20 minutes -
‘We never thought they would give us a game like this’ – Kwame Opoku on Golden Kick performance
26 minutes -
Repeal “embarrassing” Dumsor Levy completely – Akosua Manu to government
27 minutes -
Ofori-Atta isn’t running away from accountability; he is simply unwell – Haruna Mohammed
33 minutes -
Go to court and stop prosecuting your cases in the media – Haruna Mohammed to AG
39 minutes -
Investigators find cockpit voice recorder from crashed Air India flight
42 minutes -
Asante Kotoko to feature in next season’s CAF Confederation Cup
47 minutes -
CWC 2025: PSG run riot against 10-man Atletico Madrid
57 minutes -
Government to release DRIP machines for farm road projects – Agric Minister
57 minutes -
Government’s justification for fuel tax suspension ‘a joke’ – MP
1 hour -
‘We pampered them too long; now they’re biting,’ Franklin Cudjoe says of nurses’ strike
2 hours -
EC to update Parliament on Ablekuma North deadlock this week
2 hours -
Share a Coke magic of finding your name on the iconic bottle returns
2 hours