Prioritise customer satisfaction, professional standards for survival in evolving market

President-Canada Ghana Chamber of Commerce (CANCHAM), Mr. Alexander Nortey, has emphasised the importance of prioritising customer satisfaction and professional standards for businesses to survive in the evolving market of 2024.

According to Mr. Nortey, it is important for businesses to embrace innovation, modernise their approaches and focus on data-driven decision-making to stay competitive.

Mr. Nortey expressed concern over the observation that many businesses in Ghana do not prioritise customer satisfaction, and fail to maintain professional standards. He stressed the significance of gathering customer feedback and making data-driven decisions for success in the current business landscape.

Amid the economic challenges, the CANCHAM President suggested that businesses should prioritise cost-cutting measures and consider remote-work options in adapting to the changing landscape. He also pointed out the potential for growth within the African continent, particularly in the FinTech sector which presents new opportunities for business expansion.

Speaking at the Chamber’s Dinner and Awards Night in Accra, Mr. Nortey emphasised the role of government’s financial situation in the success of businesses; urging them to closely monitor sales and explore alternative sources of credit to ensure financial stability. He also highlighted the importance of responsible borrowing, regular training and hiring qualified accountants for streamlining business operations.

He advised businesses facing challenges to consider diversification as a key strategy, and to focus on cost-cutting measures and remote work options. He encouraged businesses to explore opportunities for growth within the African continent, particularly in the FinTech sector.

The Senior Trade Commissioner from Canada to Ghana, Andrew Maharaj, speaking on plans to boost trade between the two countries said the Canadian educational institution is set to launch a major technical training project in Ghana, which marks a significant step in growing collaboration.

Ghana’s key industries including oil and gas, mining and agriculture, are areas in which Canada has considerable expertise. As a top-five country in the energy sector and a global leader in agriculture technology and mining, Canada is well-positioned to support and collaborate with Ghana in these areas, he noted.

“I am optimistic about the potential for our relationship to continue growing and flourishing in 2024. Trade is no longer just about exporting finished products to the importing country. It has become much more diverse. For instance, Ghana is focusing on developing local content, growing supply chains and nurturing local talent and expertise. This presents a great opportunity for Canada,” Mr. Maharaj added.

The collaboration between Canada and Ghana, according to him, reflects a broader trend of increasing cooperation between the two countries. As Ghana seeks to develop its local talent and expertise, Canada’s support in technical training and other areas will play a crucial role in fostering this growth.

The Dinner and Awards Night was held to celebrate the contribution of deserving members, partners as well as council members for their contribution to the chamber’s growth.

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