The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has urged multinational companies to reconsider exiting the Ghanaian market.
The economic environment in Ghana from 2022 to the present has led numerous multinational firms to relocate either partially or entirely to other countries.
The latest company to announce its departure is Glovo, a leading food delivery service in Africa.
The Spanish firm stated on May 10, 2024, that it would exit the Ghanaian market due to profitability challenges and a reassessment of investment priorities.
Addressing the 8th Ghana CEO Summit in Accra, Mr. Mahama said the exit of these companies would negatively affect job creation, reduce tax revenue for the state, and hinder overall economic growth.
“Amid all the companies leaving, our public debts have hit a staggering 658.6 billion cedis. But we cannot despair over the poor quality of governance that has served us in the last seven and a half years. I use this opportunity to appeal to you captains of the industry to tarry a bit more. Please don’t leave our country. There is a saying that the darkest hour is before the dawn,” he said.
He also promised to create a conducive environment for companies to run their businesses should the NDC win the December polls
“The beauty of our democracy is that it affords us the opportunity to change our current trajectory. You can be rest assured that the new NDC administration will create a conducive environment for businesses to thrive,’’ Mahama added.
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