Building contractors urged to remain positive in spite of economic difficulties
Building contractors have been encouraged not to abandon their trade but be hopeful of a brighter future.
The President of the Association of Building and Civil Engineering Contractors of Ghana (ABCECG), Prosper Yao Ledi, said following a recent report by the Ghana Statistical Service (GSS) indicating that the construction sector recorded a negative growth last year.
In a statement copied to the Ghanaian Times in Accra yesterday, he noted that the previous year was harsh for building contractors, with many contemplating abandoning their business.
He said the construction industry was struggling, largely due to unpaid arrears, depreciation of the cedi and the rising cost of building materials.
Mr Ledi encouraged registered foreign contractors to shelve the idea of relocating to other countries, adding that with continuous advocacy, the business environment would get better.
Figures released by the GSS recently indicated that building construction industry’s growth contracted by four per cent in 2022.
“The negative growth in 2022 reflects the hardship contractors went through, due to fewer jobs and accumulation of arrears alongside the hikes in prices,” Mr Ledi stated.
Mr Ledi challenged government to pay particular attention to the construction industry to save jobs and help create wealth for the population.
He urged government to ensure that more contracts are awarded to registered indigenous contractors to support the formalisation of the sector.
BY TIMES REPOTER