Border Closure: Ghana Businesses May Fold Up – Ghana Chamber Of Commerce

A number of local businesses could fold up by the end of the year if the issue of the Nigeria border closure is not resolved immediately.

According to the Ghana Chamber of Commerce and Industry (GCCI), local businesses in the Ashanti Region, in particular, were losing about $3 million a week with the threat of a possible shutdown.

This came to light following a tour of some selected companies by officials of the chamber to gauge the mood, assess performance and strategise for the way forward.

Among the companies a team from the GCCI visited were Angel Group of Companies, Uni-Jay Fashion and Asamoa Yamoa Farms, all in Kumasi.

The National President of the Chamber, Nana Apiagyei Dankawoso I, who led the team on the tour, commended business owners for their resilience in the face of the challenge.

He gave an assurance that the border would possibly be reopened this week to allow passage of goods from Ghana as well as boost business between the two countries.

While waiting for that to materialise, however, Nana Dankawoso urged businesses to leverage technology and explore new opportunities and destinations beyond Nigeria in order to remain relevant.

He said since the government employed just six per cent of the country’s workforce, the private sector ought to be supported to enable it to employ more people, else the problem with unemployment could exacerbate.

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