Business General

Don’t pamper local businesses who flout laws – Manasseh Azure

Popular Ghanaian journalist, Manasseh Azure Awuni, has warned regulatory agencies against protecting defaulting businesses in the name of helping indigenous businesses to thrive.

His caution comes on the heels of issues surrounding gold dealership firm, Menzgold’s tussle with the Securities and Exchange Commission (SEC) over allegations that the company is operating beyond its mandate.

This has prompted a temporal shut down of the company on the orders of SEC.

The directive shook the entire city of Accra with notable persons in the country pleading for clemency on behalf of Menzgold.

But Manasseh Azure believes that overlooking red flags identified in the operation of Menzgold will do more harm than good to the country.

He insists the proper way of helping local organisations is to ensure they do things right.

“Let’s protect indigenous businesses and help them. One way of helping them is to ensure that they do the right thing.

“The global stage will not lower the bar for Ghanaian businesses. When we allow anything to pass because we want to protect local businesses, they will not grow. They will eventually disgrace us internationally,” he said in a post on his Facebook.

He went on to add that, if regulatory bodies fail to address such issues, it will jeopardize such organisations at a later time in their bid to compete in the global market.

It was in this direction that he stressed that the agencies involved in the matter be allowed to do their work to sanitize the system.

Read his full post below.

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