The Chief Executive Officer of MIKADDO Holdings, Dr Nana Michael Agyekum Addo, has admonished business owners who are aligned to political parties to abide by the rules and regulations of the state to avert targeting.
He said there are entrepreuneurs who hide behind their political parties and evade taxes and shy away from other obligations but turn to complain of victimization when their opponents take over power.
This, he said is the reason most indigenous businesses collapse when a government they are not aligned to forces them to do the right thing.
The former Board Chairman of the Ghana Investment and Promotion Centre (GIPC) made this known when he was speaking to Prince Minkah on XYZ Tonight Wednesday on why Ghanaian businesses fail.
“Why Ghanaian businesses fail, do they follow the rules and regulations of business? the answer is no,” Dr Addo stated.
Although he acknowledged there could be some underlying factors like inability to manage human resources and machines and the failure to master marketing skills, he was, however, quick to emphasize that most businesses collapse because their owners do not abide by the rules and regulations governing the establishement of such ventures.
Banking Sector Clean-up
Dr Nana Agyekum cited the banking sector crisis as the inability of some managers to abide by the banking laws but were quick to blame the government because they were not affiliated to the ruling New Patriotic Party (NPP).
It will be recalled that some banks and financial companies were closed down between 2017 and 2019.
During the sector clean-up, uniBank, which belonged to former Finance Minister Dr Kwabena Duffuor and GN Bank, which belonged to former PPP presidential candidate Dr Papa Kwesi Nduom.
Similarly, the central bank also collapsed Heritage Bank Ghana Limited, which belonged to Mr Seidu Agongo a known National Democratic Congress (NDC) financier.
Many activist argued that if they flouted the laws, the government could have rather punished them than shut tyem down, resulting in some sort of political victimization.
Dr Nana Agyekum shared in that school of thought but hastened if they had followed the regulations, the government would not have had reasons to shut their banks.
“These banks that collapsed, if they had managed the peoples monies well, they wouldn’t have collapsed,’ he added.
But when quizzed about political victimization on the part of Agongo and the two politicians, Dr Agyekum said, “that is unfortunate, but I wouldn’t sit here and agree with you because if you ask them [regulators], they’ll tell you it’s not true [they target such businesses] and that they are there for Ghanaians, being it NDC, NPP, CPP or PPP, that’s what they’ll tell you that they are not victimizing anybody.”
His advice for other business owners who are politically aligned was simple: “Do the right thing.”
“So I’ll say that if you think you have a different political view, do the right thing so that you become untouchable. If XYZ is doing the right thing, you become untouchable. But if you do not pay your taxes and then they close it down, you will sit down and cry that the system does not like me and that it is not fair,” he advised.
By Henryson Okrah|Myxyzonline.com