More businesses are about moving out of Ghana – FABAG warns

Samuel Aggrey, the General Secretary of the Food and Beverages Association (FABAG), has revealed that more businesses are actively working on relocating out of Ghana and reducing their workforce to cope with the challenging economic environment.

Aggrey warned that businesses are taking this difficult decision because the government has failed to address their concerns, leaving them with no choice but to relocate, he said on PM Express on Joy News.

“It has been a very difficult decision for most of these businesses, and if the government does not take steps to deal with their concerns, they will not be left with any option than to relocate," he warned.

He emphasized that companies that have already left Ghana took this decision after engaging with the government and other agencies, but unfortunately, these efforts did not yield the desired results.

Aggrey pointed out for example that, the cedi’s perennial depreciation has also not been helpful, a major contributory factor to the businesses exiting.

He disclosed that the government has not done enough to support firms that are operating in the country from the negative impact of cheap imports.

“The situation is getting very bad, most of these firms have to comprehend, with unreliable utility supply,” he said