UGBS Faculty Speak at the 7th Ghana Economic Forum

UGBS Faculty Speak at the 7th Ghana Economic Forum
Sep 19, 2018

Dr. Lord Mensah and Dr. Kobby Mensah, senior lecturers of the University of Ghana Business School participated in a two-day Ghana Economic Forum (GEF) held at the Movenpick Ambassador Hotel, Accra on 4th and 5th September, 2018 on the theme, “Building a Competitive Economy for Sustainable Growth”.

Dr. Lord Mensah, on the first day of the event, expressed his opinion about the Ghanaian Economy during a panel discussion moderated by Mr. Bernard Avle, the director of news programming and morning show host of Citi FM. Dr. Mensah observed that economic growth should have a direct impact on the lives of individuals in the country, although it is usually not instant as expected. Using Free Senior High School (SHS) policy and infrastructural developments as examples, he explained that the free SHS policy would have a direct impact in the life of citizens unlike infrastructural development which equally contributes to development.

Commenting on government’s focus on Private Sector growth, Dr. Lord Mensah again noted that even if growth was reflecting on the side of the government, it may not necessarily be felt in the pockets of individuals because it was a transition that needed time.

In response to the question of whether the country was on course in relation to job creation, Dr. Lord Mensah said “Ghana is making a headway in respect to unemployment”.  He indicated that most banks that collapsed were extremely integrated and a number of these financial institutions had subsidiaries. Hence, a flaw in one led to the decline of the other. He was certain that the new structures that were being put in place will help curb this phenomenon and aid job maintenance.

Dr. Lord Mensah concluded by saying that Ghana has not really made much progress in the addition of value to our goods for export as a result of minimal inputs, technological constraints, and inadequate financing. He therefore recommended that government should focus on the Ghanaian exports and make huge contributions to help add value to our products.

Dr. Kobby Mensah, a Tourism Marketing expert, led a Panel discussion on the theme “Tourism and Aviation Investment Opportunities and Return on Investments” on the second day of the event. The three-member panel included the Deputy Minister for Aviation, Hon. Kwabena O. Darko-Mensah, the Dean of the School of Arts, University of Ghana, Prof. Kodzo Gavua, and the Chief Operating Officer (COO) of Africa World Airlines (AWA), Captain Samuel Thompson.

Dr. Kobby Mensah stated that Tourism and Aviation possessed great investment opportunities that needed to be harnessed, listing the various aspects of tourism which included cultural tourism, heritage, adventure, ecotourism, transportation, recreational tourism amongst others. He noted that areas such as the financial and health markets, travel and content insurance, and travel discounts, were underrepresented.

He sought the panel’s view on a number of issues concerning investment opportunities, ways to sustain and improve tourism, aviation and travel insurance.
The panel arrived at a conclusion that Ghana must invest in research on the tourism industry. Specifically, the quality of products being offered to tourists, the hospitality industry and aviation.  Also, individuals should invest in the tourism sector as well as aviation for Ghana to be part of the global growth in tourism.

They also made recommendations that infrastructure for tourism should be improved, road networks developed for accessibility to various hidden sites and massive advertisement done to give Ghana an international recognition on the map of tourism.

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