Businesses must take advantage of AfCFTA to diversify funding sources – Kobla Nyaletey
The Director of Markets at Absa Ghana and Nigeria, Kobla Nyaletey, has advised Ghanaian businesses to take advantage of the African Continental Free Trade Area (AfCFTA) to escape the high-interest rate regime in the country.
Speaking on the theme, ‘Preparing and positioning for the AfCFTA opportunity‘ on Citi TV, as part of this year’s virtual fora of the Citi Business Festival, Mr. Nyaletey explained that “by trading on the international market, you generate foreign currency. You are thus not restricted to local sources of funding.”
He further stressed the need for key stakeholders such as the Ministry of Finance and the Bank of Ghana to be part of the AfCFTA conversation.
“Fundamentally, we need to ensure that we focus on our macro-situation as an important ingredient in enabling our businesses to be competitive in the AfCFTA discussions.”
“I believe that all the key stakeholders in this arena, the Ministry of Finance, Bank of Ghana, can also be part of the conversation. Their roles should be clearly spelled out, all in the bid to enable Ghanaian businesses to succeed.”
Other speakers for the week-4 discussion were Michael Kottoh – Managing Partner of Konfidantes and Fatima Ali Mohammed – Chairperson, Agribusiness sector of AGI, and CEO of Africa Band Warrior.
Mark Badu Aboagye – Chief Executive of GNCCI and Sam Dentu – Deputy CEO of GEPA joined via Zoom.
The Citi Business Festival is an extensive program of business events and on-air activities providing inspiration, business ideas, and information to persons who are starting, building, or growing their businesses.
The virtual business fora are live on Citi TV every Tuesday from 11:00 am to 1:00 pm. The radio on-air series is themed to correspond with the various virtual forums at 9:20 am every weekday.
The Citi Business Festival is sponsored by Absa Bank Ghana with support from IT Consortium and the Ghana Investment Promotion Centre (GIPC).
It is also powered by Citi FM, Citi TV, and Ghana’s most comprehensive business news website, www.citibusinessnews.com.
Source: Ghana Business
