Dr. Ernest Addison – BoG Governor
THE GOVERNOR of the Bank of Ghana (BoG), Dr. Ernest Addison, has urged businesses to take action to develop resilient and innovative strategies to achieve long-term value and sustainability.
He made the call in his keynote address at Ghana National Chamber of Commerce & Industry CEO Business Forum recently.
The forum was held under the theme: “Redefining Business Success: The Path for Business Value, Resilience and Sustainability.”
According to him, the varying risks triggered by the coronavirus pandemic have led to players to question how businesses operate, signaling that it cannot be “business as usual” in the post-pandemic era.
He noted that building business resilience and sustainability would be critical to the recovery process.
As such, he urged that businesses “must recognise and anticipate the changing operating environment.”
He further urged that businesses “must allocate resources and create values to chart a path towards future growth.”
According to Dr. Addison, businesses need to redefine strategies that would reposition them for future growth by adhering to good governance practices, efficiency, deploying scarce capital, improving supply chains, and finally adopting technology-driven skills development and operations.
Again, he said businesses must take advantage of demographics, values and change in technology, and identify new opportunities.
By Melvin Tarlue