Former Managing Director of Stanbic Bank Ghana, Alhassan Andani, is urging Ghanaian businesses to consider other parts of the African continent in expanding their operations if the regulatory environment in the country is not friendly enough.

According to him, other jurisdictions may be in need of services provided by enterprises from Ghana, hence the need to take advantage of other good business environment to build their operations.

He was speaking to Joy Business after making a presentation at the “Building Enduring Business Conference organised by LVS Africa. The conference was under the theme: “survival and business growth in times of economic turbulence; weathering the storm and thriving”.

Mr. Andani explained that “but the real thing is to bring out the power of the enterprise and to say that enterprises just don't come into existence by default, they’re orchestrated by states, and they are orchestrated by the shareholders”.

“Then you have places like in America free enterprise but people come up with very bright ideas themselves and investment bankers and shareholders orchestrate to take that business outside of the jurisdiction. So why is Africa lacking that ability to orchestrate the deployment of enterprises”, he questioned.

Speaking on the regulatory environment, the former Stanbic boss believes regulatory policies should not be seen as restrictions to business growth, but rather conscious efforts by government or states to support individual ideas.

“The regulatory restrictions here may be that government is not conscious about orchestrating enterprises but if you set up your company in Ghana, and you're solving a problem, which problem is not confined to the shores of Ghana. You can take that company and orchestrate and run it in another jurisdiction totally free of the Ghanaian government”, he noted.

He again said “there are several countries, different governments and those companies running around making businesses”.

Other speakers of the event included David Ofosu Dortey, Chief Executive of AB and David, Professor Noel Tagoe, and among others.

The conference is a gathering of entrepreneurs aimed at helping each other in navigating the storm of business turbulent being occasioned by the impact of the economy.