Deputy minister of trade and industry, Michael Okyere Baafi, has stated that the government is actively engaging with such firms to address their immediate concerns.
In recent months, several prominent multinational companies have announced their decision to suspend operations in the country, citing various reasons. The most recent example is French Bank Société Générale, which has ended its 20-year presence in Ghana.
Other well-known brands, including Glovo, Nivea, Jumia Foods, Unilever Ghana’s Lipton Tea, Dark and Lovely, BET 365, Game, and BIC, have also chosen to withdraw from the Ghanaian market. This has raised concerns about potential impacts on job creation and broader economic growth issues.
However, during an appearance on the Asaase Breakfast Show on Tuesday (7 May), Otchere Baafi expressed optimism about the ongoing engagements with these multinational firms.
“We have started engaging some of them and I can tell you that the engagement has been good. But the long and short of the matter is that these issues or concerns are things that are not going to be permanent.”
“These are things that we are going through in the shortest possible time and we are so sure that we will bounce back and the whole economy will change. So, we have given them assurance in that area.”
“And also try as much as possible to address some of their immediate challenges in the area of competition; one or two of them raised issues about competition, ” Otchere Baafi said.