China investment

The expected sensible leadership for which Nana Addo was elected is about to manifest through the private sector investment.

Upon assuming government, NPP was ridden with serious economic liquidity problems the scale of which is unprecedented. This is manifested in the current delinquency of the government in its salary obligation, contract payment obligations
,huge arrears in its provider payments under NHIS etc. The NHIS( National Health Insurance Scheme) as well thought out and crafted by its originators, The Kufour government, has suffered enormous mismanagement of the program by NDC under Mahama and has consequently given it the true meaning—–SCHEME. Another meaning of a scheme is our infamous “419” operations. Thankfully the current administration has pledged a determination to restore confidence in such a laudable service to the nation. Financial liquidity challenges delay the realization of that determination.

Several other sectors of the economy face the same challenges. Until our economy matures or gives the semblance of maturity Ghana is heavily dependent on foreign investment of mutual economic benefit not withstanding foreign aid that has historically stagnated the minds of our financial leaders. The year 2017 marks the ushering in of The New Economic Order –Emphasis on The Private Sector as the engine of growth and poverty alleviation.

The whole country is hailing Vice President,Dr Mahamadu Bawumia’s Economic Trip to China. Yes this $2Billion investment package deal he signed in China may be traced as far back as Prof. Atta Mill’s time as president ( may he rest in everlasting peace), but after the initial disbursement,several reasons were given for withholding the rest.

In the typical Chinese diplomacy, the real reason of fiscal incompetence on the part of Mahama administration was not prominently cited. Suffice it to say, right or wrong, that The Chinese now sees fit to do business with a more responsible government.

But the whole world is watching the economic dynamics between China as an economic power and its vulnerable recipient partners. Discussion of such dynamics deserves another day.

But for Ghana to be attractive to needed foreign investment partnership, certain discipline has to be demonstrated. Corruption though ubiquitous is pandemic in some neighboring countries but definitely epidemic in Ghana. Nana Addo is determined to combat it. Confidence shown by our investment partners depends on how other investors are treated when they come into the country. Access Contractors scheming huge sums of money from the potential investors just for them to sit down and talk with the minister or high government official is ridiculous and must stop. So called local representatives in the course of doing business with the foreign partner, device unscrupulous means to defraud the partner and consequently drive the investor away.

A case in point happening right now at a Metropolitan Assembly: A local company by name Faseta is alleged to have managed to forge the signatures of The Directors of a prominent UK company and submitted documents to The Metropolitan Assembly that are impeding the progress of the investment that stands to benefit a huge population of Ghana.

Such fraudulent acts should not be tolerated and investors need assurances of legal protection and good judgement by the sector leaders in taking decisions for the general good of Ghana rather than allowing individuals to hold the country and the potential investor at ransom while Ghanaians lose the gains of the investment. I hope this is not an effort by others to undermine the government as it attempts to bring to the people such a monumental investment edifice. For us as citizens , all we care for is “Poverty alleviation and honest economic opportunities for all.”

When government suffers from liquidity problems and are unable to pay for example, contractors, especially in the road and housing sectors such problems reverberate in every corner of the economy.

THE FUTURE OF GHANA IS IN YOUR HANDS NOT JUST IN NANA ADDO’S ALONE. IT STARTS WITH A CULTURAL REVOLUTION IN OUR ATTITUDE TO NATION BUILDING.