Building contractors have been urged to embrace innovation and resilience in order to navigate the challenges of the business environment.
Mr Prosper Yao Ledi, President of the Association of Building and Civil Engineering Contractors of Ghana (ABCECG), emphasised the need for innovative approaches to sustain operations amid ongoing economic constraints.
Mr Ledi, who stated this in his New Year’s statement, acknowledged that the economic challenges persisting from the previous year were likely to continue.
He said adopting innovative strategies would be crucial for contractors to weather the uncertainties of the New Year.
Noting that this year was an election year, Mr Ledi anticipated a potential increase in projects.
The President of ABCECG said government’s limited revenue streams might affect the timely awarding of contracts and payments.
“Innovate or die is a mantra we must all adopt this year and subsequent years,” he stated, and assured that the Association would actively support its members in developing innovative solutions to stay competitive.
He said the challenges of delayed payments, unfair contract awards, and harassment by statutory agencies continued to persist and urged the government to intervene to address those challenges.
Mr Ledi said delayed payment of projects has caused the country to lose a lot of revenue as it led to the increase in the cost of project, adding that completing projects on time would relief the government of unnecessary financial burdens.
He urged the government to recognise construction as a growth pole and stressed the need for fair contract awards and the availability of funds before the commencement of projects to prevent delays in payments.
Mr Ledi commended building contractors, particularly foreign members of the Association, for their commitment to ethical practices.
He encouraged other contractors operating in the country to register with ABCECG, emphasising the Association’s focus on creating platforms for knowledge sharing and technology transfer in 2024.
“The goal is to facilitate learning from foreign counterparts, sharing best practices, and fostering collaboration on projects,” Mr Ledi stated.
The President of ABCECG decried the situation where some political leaders openly discouraged foreign contractors from registering with the various associations in the country, describing such conducts as retrogressive and promoting indiscipline.
Mr Ledi called for a closer working relationship between the building industry and the government.
BY KINGSLEY ASARE
