[ad_1]
Ghana’s quest to recover from the decline recorded by some Sustainable Development Goals (SDGs) as a result of the Covid-19 pandemic, can happen with the active participation of the private sector.
The actors of the sector, according to the experts, are crucial for the construction of the nation and the government must allow them to undertake certain development projects to reduce the indebtedness and guarantee the sustainability of the debt.
These were suggestions made unanimously by Dr. Charles Boamah, former Senior Vice President of the African Development Bank, and Hamdiya Ismaila, General Manager of the Venture Capital Fund, one of the panel discussions at the Accra SDG Investment Fair 2020 in progress.
The three-day fair seeks to provide a platform to explore new opportunities within the new normal, identify innovative ways to access financial resources during the Covid-19 pandemic and recovery, share experiences related to individual and corporate adaptability in the wake of Covid -19. and regain momentum for the implementation of the SDGs.
Speaking on the topic, “Financing for development and the new normal”, Dr. Boamah said that a factor that was frustrating private sector participation was the lack of trust between private people, the government and the public and the government. It could raise funds to implement SDG programs by increasing taxes and deepening the capital market.
Dr. Boamah said that a lot of attention must also be paid to building trust among citizens, the private sector and the government to facilitate the flow of work and that state enterprises with financial commercial viability should be weaned from state funds and must allow to borrow to operate.
Ms. Ismaila said that SDGs eight and nine could be achieved if the government and the private sector worked hand in hand.
“With the participation of the private sector, government initiatives such as the factory of one district and one (1D1F) and planting for food and employment. If the 1D1F is left for the private sector to seek to raise funds to build, operate and transfer it, ”he added.
In the financial sector, he urged regulators to build stronger synergy between themselves and financial institutions to build trust.
