HON. KWADWO Baah Agyemang, Chief Executive Officer for the Ghana Digital Centers Limited has appealed to African Governments to consciously channel resources and other support services to technological ventures and initiatives. 

Addressing participants at the GITEX Africa Digital Summit in Morocco on the topic “Ingredients of Sustainability Success in Emerging Markets”, Hon Agyemang said a lot have to be done by African leaders to achieve sustainable markets in the area of technology.

According to the GDCL CEO, sustainability ventures face a range of challenges, some of which include;

Access to Capital:

He said this is the biggest challenge for sustainability ventures.

He noted that investors consider access to capital as high-risk knowing that traditional sources of financing may be more difficult to secure.

Regulatory Hurdles:

Another challenge, the Ghanaian representative noted was regulatory hurdles where sustainability ventures may need to comply with a range of regulations at the local, state, national, and international levels.

He added that depending on the industry, these regulations can be complex and expensive to navigate.

Scaling Up:

Hon Agyemang also identified scaling-up as another impediment, adding that once a sustainability venture has proven its concept, scaling up can be challenging.

He averred that it can be difficult to find the right partners and suppliers, and to manage growth without sacrificing the values and principles that underpin the venture.

Consumer Awareness:

Sustainability ventures often face challenges in building awareness and demand among consumers, the CEO stated.

He noted that education and marketing efforts may be required to help potential customers understand the benefits of sustainable products and services.

Supply Chain Management:

The GDCL CEO said sustainability ventures may need to work with suppliers and partners who share their values and principles.

This, he stressed can be challenging, as some suppliers may prioritize cost savings over sustainability.

Technological Innovation:
Anothe challenge, the CEO disclosed was technological innovation.

He noted that many sustainability ventures are based on innovative technologies that are still in the early stages of development, adding that this can make it difficult to attract investment, find skilled employees, and compete with more established companies.

Changing Cultural Norms:

Discussing sustainability ventures may need to challenge entrenched cultural norms and change the way people think about consumption, waste, and the environment.

This, he stated can be a slow and difficult process, and may require sustained effort over many years.

Story By Michael Ofosu-Afriyie, 

Kumasi