Tema, May 16, GNA – Dr William Mensah-Ansah, a Tema-based industrialist, has cautioned the government against taking hasty decisions on possible renewal or potential termination of the contract between Zoomlion Ghana Limited and the Youth Enterprises Agency (YEA).
He emphasised the need for careful consideration to avoid unintended consequences, especially on the workers, sanitation and waste management in general and health and safety of Ghanaians in particular.
He warned that rushing to either terminate or non-renewal of the contract could have long-term effects.
Speaking in an interview in Tema on recent calls on the government to discontinue the expired contract between the two entities, Dr. Mensah-Ansah drew parallels to the banking sector cleanup, which he believed was politically motivated and ultimately harmed indigenous investors.
Dr Mensah-Ansah explained that the banking sector cleanup had a devastating impact on several local entrepreneurs who had invested in the sector.
Citing Dr Paul Acquah, a prominent businessman who lost his investment in The Royal Bank, and other entrepreneurs who had invested in banks like UT Bank, Beige Bank, GN Bank and others that were affected by the cleanup.
These entrepreneurs had built successful businesses, created jobs, and contributed to the economy; however, the banking sector cleanup led to the collapse of these institutions, resulting in significant financial losses.
The industrialist stressed the importance of supporting local entrepreneurs like Zoomlion and others who had made significant strides in Ghana and beyond and urged the government to manage the contract renewal in a way that empowered both parties to work together and deal with any discrepancies.
Dr Mensah-Ansah emphasised the need for stability and a conducive business environment to attract and retain investors and called for reducing the “four-year cycle trauma” faced by investors and the business community with each change of government.
The Tema-based industrialist highlighted the importance of having giant companies in strategic sectors like banking to build confidence and stability in the sector, petroleum and energy to secure Ghana’s energy future and manufacturing to promote economic growth and job creation.
Other areas he identified include the telecom industry, Sanitation and waste management to ensure a clean and healthy environment, transportation and security to support economic development and stability.
To resolve the disputes for the renewal of the contract between Zoomlion and YEA, Dr Mensah-Ansah called on the government to establish a Joint Review Committee which should include representatives from Zoomlion, YEA, and relevant government agencies.
He said the committee should be tasked, among other things, to identify areas of contention and propose mutually beneficial solutions.
Dr Mensah-Ansah said such a move will foster open and transparent communication between Zoomlion and YEA and create a conducive collaborative problem-solving platform, as the two, through the committee, would work together to find solutions that benefit both parties.
The industrialist said alternatively, the government could engage the services of an independent mediator with expertise in contract disputes or use mediation to facilitate discussions and find mutually acceptable solutions.
He also urged both parties to consider renegotiating contract terms to reflect changing circumstances and ensure any changes benefit both Zoomlion and YEA.
Dr Mensah-Ansah recommended that to avoid crushing local entrepreneurs’ investments while protecting state and worker interests, the government should ensure contract terms are clear, concise, and transparent and regularly monitor contract implementation.
He urged the government to foster a conducive business environment, maintain stable policies and regulations to encourage investment, provide support and resources to local entrepreneurs, ensure compliance with labour laws and regulations and prioritise worker welfare and safety.
Dr Mensah-Ansah said through the recommendations, Zoomlion and YEA could work together to resolve contract renewal disputes, and the government can protect investments while safeguarding state and worker interests.
He acknowledged the watchdog role of civil society organisations, religious and traditional authorities, governance think tanks, the media, and workers’ unions and encouraged them to put the spotlight on governance.
“Let us work towards building a just society, encourage entrepreneurs to invest in key sectors of the economy, support the business environment and protect workers interests as well as investors,” The industrialist stated.
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