An Economist and Professor of finance at the University of Ghana, Professor Godfred Bokpin has expressed concern about the exit of some multinational companies from the country.
The Associate Professor of finance at the University of Ghana Business School (UGBS) lamented that the exits of multinational companies from Ghana will potentially affect other investors who will be looking at coming to do business here.
Ghana’s economy has forced some multinational brands to announce a cessation of their operations in the country.
After nearly 20 years of operations in Ghana, French bank Société Générale has decided to withdraw from Ghana and Glovo, a prominent food delivery platform also announced its decision to end operations in Ghana this month despite significant investment in the last two years to expand its services.
Prof. Bokpin in an interview with Nana Yaa Konadu on Peace FM’s Midday news bulettin, observed that the trend should be a worry for all Ghanaians, as the departure of these companies will largely have an effect that leads to job losses.
According to him, the recent exit from Ghana by these companies must be a worry for all Ghanaians because the environment is hostile and unsupportive of businesses because of taxes and unreliable power supply.
Additionally, Prof. Bokpin said this is the right time for policy makers to sit up and analyze tax regimes, most importantly the local businesses, but unfortunately those in charge are thinking of winning the next elections.
Source: Prince Baffour Asamoah/Peace FM Newsroom
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