Players in the private sector are said to be in pole position of taking advantage of the benefits that should come along with the implementation of the Right to Information Act which is scheduled to be enforced from January 2020.
However, this might also have its own unique challenges as its cost implication could be a deterrent factor to the sector, especially Small and Medium-sized Enterprises (SMEs), according to the Private Enterprise Federation (PEF).
The Federation estimates that the implementation of the RTI Act will provide the private sector with the authority to effectively track and monitor all policy frameworks and development strategies of government.
This includes where government intends to generate business opportunities through the granting of construction and supply contracts which will enable the private sector players offer proposals in the area of procurement among other areas to take advantage of such opportunities.
“The RTI Act will allow, for instance the private sector to know that government plans to invest about Gh¢2 million in water. This would propel them to plan and take advantage of the enabling environment”, Chief Executive Officer (CEO) of PEF, Nana Osei-Bonsu told the Goldstreet Business during an interaction on transparency and the cost factor of utilizing the RTI Act.
However he warns that since the profit margins of a number of SME’s in the country are very thin many of them may not be able to muster the requisite funding to fully utilize the benefits of the new legislation after the RTI is fully implemented.
To create an enabling environment for most sector players to take advantage of the process, PEF is urging government to assist SMEs to aggregate the business information the Act will make available and put in adequate measures to put it at their doorsteps so they do not have to scramble for it at extra cost.
By Dundas Whigham