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Mrs. Ama Benyiwa-Doe, Central Regional Minister, on Friday inaugurated the Cape Coast Development Company (CCDC) and swore its 12-member Board of Directors into office to spearhead the socio-economic development of the metropolis. The Company which is fully owned by the Cape Coast Metropolitan Assembly (CCMA) is the brainchild of its Mayor, Mr. Anthony Egyir Aikins, and has Mr. Joseph Winful, Senior Partner of KPMG, an international accounting firm, as the Board Chairman. Mrs. Benyiwa-Doe in an address deplored the slow pace of infrastructural and economic development of the metropolis which she said had led to high unemployment and poverty levels among locals. The Minister observed that although the assemblies were created to ensure the holistic development of their areas, they sometimes lacked the needed capacity to tackle developmental issues as a result of their inability to attract capital or credit facilities. "The establishment of the Company which has been mandated to among others engage in joint venture investment projects to benefit all residents of Cape Coast and develop site and services facilities within the metropolis, was therefore a step in the right direction", she stressed. The company would also encourage the setting up of a unit trust or mutual fund to undertake investment projects. Mrs. Benyiwa-Doe charged Assembly members to get more involved and committed to the development of their communities to give hope to people in the rural areas who mostly live in squalor and poverty as they lacked essential amenities. She reminded them that it was their responsibility to play leading roles to help achieve the government's "better Ghana agenda" to bring relief to the people. She also urged the board members to bring their experience to bear on the work of CCDC and devote their time, commitment and efforts to make the company a viable and competitive one that will set the pace for other assemblies in the region to follow. Mr. Aikins stated that it was time to "turn around the fortunes" of the metropolis which he said had the potential to develop, yet only lip services had been paid to its development over the years, and was optimistic that "we will walk the talk this time around". He said there was the need for the redevelopment of urban physical facilities as well as the creation of employment opportunities to ensure economic growth in the area and appealed to residents to eschew greed, laxity and vindictiveness which he were "enemies of development". Mr. Aikins said an initial capital of GH�1,000.00 had been made available adding, persons with the requisite experience and qualifications will be engaged to undertake investment activities in a sound commercial manner on behalf of the Company. Mr. Winful on behalf of the board gave the assurance that the Company will be apolitical and would work hard to seek the interest of the people in the Metropolis. Present at the function were former chief executives, Mr. W.C Winful, the immediate past, Ms. Mercy Arhin and the first District Secretary of the area, Mr. Dick Nelson as well as Osabarima Kwesi Atta II, Omanhen of Oguaa. Among the members of the board are Mr. Alex Bernasko, Secretary, Bank of Ghana, Dr. Cadman Mills, a renowned economist, Mr. Bo Amissah, Maritime Executive and the MP for Cape Coast, and the Deputy Attorney General, Mr. Ebo Barton-Odro.