End Of Sole Sourcing In Ghana – Nana Addo Speaks

The government of Ghana Assured Ghanaians of the end of Sole Sourcing In Ghana.

It is the desire of Ghanaian companies, industries, and businessmen and Women to always get a helping hand from other avenues to support their businesses, companies, and industries. When the local industries and companies are not receiving the needed support and supplies, the businesses turn to collapse. On this basis, the President of Ghana his Excellency Nana Addo Dankwah Akuffo Addo announces the era of sole sourcing coming to an end.

Ghanaians are complaining of the high cost of living and hardship in the country. The economic challenges are also another serious issue to talk about. To a higher extent,  all these challenges could be linked to sole sourcing. When companies and industries are struggling to provide their own source of supplies without any external support, their intake concerning the number of people to be employed in the companies and industries is reduced. In the long term, this increases the high rate of unemployment in Ghana.

In the latest post on social media by His Excellency Nana Addo Dankwah Akuffo Addo, he made it clear that a new era is coming and that era is now.  His Excellency Nana. Addo Dankwah Akuffo Addo added that the era of sole sourcing will come to an end. Ghanaians will experience the end of sole sole-sourcing era in Ghana.

Sole sourcing is an approach where businesses are using only one supplier to procure products or services. It helps cut risks and costs by limiting the number of suppliers to deal with. However, it also means having fewer choices when the current supplier goes out of business or underperforms.

Sole Sourcing has only a few benefits when compared to its disadvantages.  Therefore,  Ghanaians will be glad if indeed the president of Ghana will help to end the sole sourcing era in the Country. Companies and businesses will have varieties when it comes to the choice of materials for producing their goods and servicing.  The end of sole sourcing will also help to stop the monopoly of sole suppliers.