‘Exporters bearing brunt of Forex market volatilities’
By Isaac AIDOO, Accra
NEWLY-ELECTED President of the Federation of Association of Ghanaian Exporters (FAGE), Mr Davies N. Korboe, says forex market volatilities and their consequences on exports have eroded the capital of “most of our members.”
The phenomenon, Mr Korboe stressed was way beyond their control and called for pragmatic steps to be taken by managers of the economy to afford stability in the forex market.
In his acceptance speech, the new president noted that the recent economic downturn had had significant impact on their industry and required of them to adopt more resilient and sustainable strategies to mitigate the challenges in the export sector.
He admitted that in spite of the numerous challenges, “ it is in our utmost interest to arrest the challenges that are within our control and to introduce innovative ways of doing things.”
This share value in my opinion is the surest way to lessen the burden of the Ghanaian exporter and make us more resilient.
Mr Korboe pledged his commitment to drive his resilience agenda and to continue to collaborate with all relevant stakeholders to create an enabling environment and value for our business.
The outgoing executives and some renowned captains of industry donor partners would be engaged to support with their ideas and share their views on new pathways to expand our market links in Europe and other parts of the world and to build
strong network to enhance production and export business.
“This is critical and needs to be pursued vigorously,” he charged.
“With the mandate given me, I assure you of the team’s utmost desire to work assiduously in ensuring that members get value for their investments.
Mr Korboe was optimistic that, in view of the economic outlook, a new approach had to be adopted to bring our cost of business to the barest minimum and make our industry resilient and competitive whiles we tap into more effected markets.
He announced that the Association would soon be scouting, engaging and employing a vibrant Chief Executive Officer who understands the industry’s new dynamics and can e match the negatives by turning to positives with clear set up milestones and deliverables.
“With the support of all members which have been offered to FAGE in the past pears, 1 am confident that we will get to the Promised Land. My team and I pledge to champion the course of the Ghanaian exporter at all times and on every platform and assure you of a transparent and open administration. I expect the newly sworn to be prepared for a functional contributing their all to the sector,” the new FAGE president said.
The new executives of FAGE are Dr. Felix Mawuli Kamassah – Vice President, Mr. Appiah Mensah Philip – Honorary Secretary. Other members of the Council are Pon G. Satheesan, Mrs. Christine Esinam Atange, Nii Nartei Nartey, Mr Solomon Benjamin, Mr Sarkodie Osei , Philomina Nkrumah-Sarpong and Mr Collins Hodey.
