Andani’s long-term view on cedi

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EZEKIEL 10 years ago

Ghana has NO LACK of ideas as to what MUST be done to stabilise the Currency/Cedi. IT IS THE IMPLEMENTATION!
Are we stupid or what ???

Ghana has NO LACK of ideas as to what MUST be done to stabilise the Currency/Cedi. IT IS THE IMPLEMENTATION!
Are we stupid or what ???
Kay 10 years ago

So he claims they are related. But we have reached this stage because of wanton dissipation of state funds. All the GYEEDA, SADA, rLG, SUBA, BETTER GHANA SERVICES, and indeed apart from Judgment debt money, all these fraudu ...
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So he claims they are related. But we have reached this stage because of wanton dissipation of state funds. All the GYEEDA, SADA, rLG, SUBA, BETTER GHANA SERVICES, and indeed apart from Judgment debt money, all these fraudulent payments were made through STANBIC BANK of which Alhassan Andani is the boss. Go tell your cousin and friend.
GHFUO, be serious & change ur MENtali 10 years ago

A NATION OR ORGANIZATION, BUSINESS THAT IS NOT TRANSPARENT. HAS NO VISION. LIFE IS ALL ABOUT CHANGE, INNOVATION N HAVING VISION. IF YOU ARE NOT TRANSPARENT & DISCIPLINED, YOU BECOME STUCK N PRIMITIVE.
17. HOW DO YOU MAKE GH ...
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A NATION OR ORGANIZATION, BUSINESS THAT IS NOT TRANSPARENT. HAS NO VISION. LIFE IS ALL ABOUT CHANGE, INNOVATION N HAVING VISION. IF YOU ARE NOT TRANSPARENT & DISCIPLINED, YOU BECOME STUCK N PRIMITIVE.
17. HOW DO YOU MAKE GH MORE ECONOMICALLY COMPETITIVE, U ASK?
A/upgrade and improve infrastructure: road systems,airports, ports, the entire infrastructure, and IT infrastructure IN GH IS LAGGING. IMAGINE THE JOBS THIS WILL CREATE FOR ALL THESE YOUTHS?
B/R&D:research and development being carried out within GH. GOVT MUST PROVIDE R&D tax credit for all companies who OPERATE/HVE operations within GH.
C/CORPORATE TAX BREAKS TO MULTINATIONALS WHO WISH TO USE GH AS THEIR HEADQUARTERS TO DO BUSINESS. THIS WILL HELP GH REMAIN globally engaged through trade and investment ACTIVIITES.
D/OFFER MORE CASH SAVINGS INCENTIVES FOR THE PPL OF GH THRU THE BANKS, MEDIA. DO THIS THRU FINANCIAL LITERACY CAMPAIGNS, CASH SAVINGS STRATEGIES WITH INTEREST E.G TFSA, RRSP, MUTUAL FUNDS, GIC'S, STOCKS/GSX ETC
E/FACTORIES: TURN MORE RAW MATERIALS TO FINISHED GOODS FOR EXPORT. IMPORT LESS.
IF GH WANTS TO RESOLVE ITS BUDGET DEFICIT, CHANGE THE MACROECONOMIC VARIABLES OF CONSUMPTION AND SAVINGS.
increase to initiatives put in place by management for heads of the divisions and units to improve their revenue mobilization, and find alternative sources of revenue. IF YOU WANT TO STRENGTHEN THE CEDI. YOU MUST WORK ON VARIABLES THAT AFFECT THE CEDI, VARIABLES SURROUNDING THE CURRENCY. YOU DNT FIX UR ATTENTION ON THE CEDI..NO!
Tagdei 10 years ago

I am shock to hear Andani commenting on the falling cedi. Ghana. More hypocrites. He is loosing his job at stanbic and wants to get attention of Prez Mahama. Just stanbic you could not manage then BOG.
You gave out bad loans ...
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I am shock to hear Andani commenting on the falling cedi. Ghana. More hypocrites. He is loosing his job at stanbic and wants to get attention of Prez Mahama. Just stanbic you could not manage then BOG.
You gave out bad loans to friends and cronies. Delema and co.
At SADA as chair you never brought in any investment to warrant dollar inflow. On the contrary you wasted SADA resources.
1. You are paying the acting CEO Jebuni 19,000.00 ghc.
2. You presided over looting of sada money in the name tree planting Guinea fowl without any value therein,.
3. You as sada chair moved 72 millioam ghc sada money from central bank to stanbic into a shadey investment account which yielded no interest afaarbjW
4. As board chair stabiv told me the afoul
Eva tiy a
still rastafari 10 years ago

government must control types of imports

government must control types of imports
Earl Jones 10 years ago

The current solution by the BOG can best be described as anodyme. The problem does not lie in the injection of foreign currency into the economy but the flight of such foreign currency to countries afar.
Industry orders its ...
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The current solution by the BOG can best be described as anodyme. The problem does not lie in the injection of foreign currency into the economy but the flight of such foreign currency to countries afar.
Industry orders its raw materials from abroad for which the cedi is completely useless. Multinationals and foreign nationals operating in Ghana remit their returns back to their home countries for which the cedi is completely useless too. So what do they do? They mop up all the foreign currency esp the dollar, load the dosh into brief cases, take advantage of our weak institutions and porous borders and leave the country with the much needed foreign currency.
In the meantime, they flood the cedi in the market and are prepared to accept a few dollars for a lot of cedis because the cedi is completely useless to them as they do not intend to spend their profits in Ghana.
So is it not such good news to the smugglers that the BOG will come in their wake to pump in yet more foreign currency? Yes, indeed. So much the better and it is a matter of time before they mop up the injected dollars again. And the cycle continues with a cedi free falling with no end in sight.
It is a disaster.
Although I agree with Alhasan Andani, the solution does not lie only in increasing exports. That will increase our foreign reserves and a reduction of imports will also decrease our reliance on the dollar. But what can not be controlled by monetery policy is capital flight by stealth from unscruplous activities of foreign nationals operating in the country who do not intend to invest their returns in Ghana. They are bleeding their economy dry.
The engine of Economy growth is small to medium size locally grown businesses who will spend their money in Ghana and in the process, create job opportunities for Ghanaians. These businesses may still need the dollar to buy their raw materials, but they will balance that through direct investment into the economy. And if these small to medium size companies operate in the service sector, their import footprints may even be insignificant.
I bet the $24 Million or so injected into the economy by the BOG of Ghana has already been mopped up by the launderers.
JOBLINKS 10 years ago

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SECURITY MEN/ WOMEN, DRIVERS, OFFIC ECLERKS, HOUSEHELPS. SALES CLERKS, CLEANERS, COOKS.
020 222 9363
057 400 3936.

VACANCIES, VACANCIES, VACANCIES !!!
SECURITY MEN/ WOMEN, DRIVERS, OFFIC ECLERKS, HOUSEHELPS. SALES CLERKS, CLEANERS, COOKS.
020 222 9363
057 400 3936.
ABDUL 10 years ago

i think the current stuation of ghanas economy is not about how it grows, but is about the implementation,however ghana can only grow or develop when we put much efort in technology.the most developed countries in the world a ...
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i think the current stuation of ghanas economy is not about how it grows, but is about the implementation,however ghana can only grow or develop when we put much efort in technology.the most developed countries in the world as i speak is developed through technology,eg germany,japan,america,china and the developing states like malaysia,which we had independence with the same year but have gone far interms of development.however,if we want to grow interms of economy,lets give alhassan andani the opportunity to lead BOG.
gilbert 10 years ago

OUR EXPORT AGENCIES (LIKE TIDD, STANDARD BOARD, AND CEPS) ARE NOT HELPING US FOR EXPORT.THE PRIBE IS TOO MAAAAAAACH.

OUR EXPORT AGENCIES (LIKE TIDD, STANDARD BOARD, AND CEPS) ARE NOT HELPING US FOR EXPORT.THE PRIBE IS TOO MAAAAAAACH.
SULE TAMALE 10 years ago

YOU SHOULD HAVE BEEN GIVING THE BOG POSITION TO HELP GHANA STABILIZED THE CEDI.

YOU SHOULD HAVE BEEN GIVING THE BOG POSITION TO HELP GHANA STABILIZED THE CEDI.
Ben 10 years ago

HE IS GIVEN THE BOG POSITION. HE IS A CROOK.

HE IS GIVEN THE BOG POSITION. HE IS A CROOK.
Kwaku 10 years ago

Hope when they put you there you will do something better than only talking

Hope when they put you there you will do something better than only talking
NPP LEFT 5 YRS AGO 10 years ago

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Kwadjo, London 10 years ago

Confidence in the economy has eroded, because the President's Brothers Debt to a state's bank became the subject of negotiation during the sale of the state 's asset. That is the beauty of the market.

Confidence in the economy has eroded, because the President's Brothers Debt to a state's bank became the subject of negotiation during the sale of the state 's asset. That is the beauty of the market.
Sankofa 10 years ago

Alhassan Andani, you are only partly right.

The solution to Ghana's economic problems is for us Ghanaians to exploit our resources for the benefit of all our people.

We must stop relying on foreign investment, because f ...
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Alhassan Andani, you are only partly right.

The solution to Ghana's economic problems is for us Ghanaians to exploit our resources for the benefit of all our people.

We must stop relying on foreign investment, because foreign investors are only interested in making a profit at our expense; they are not interested in developing our country.

Anglogold is a prime example. It has been mining gold at Obuasi from the colonial era. The senior management are still British - no attempt promote Ghanaians to run the company, perhaps in the fear that such a move could lead to nationalisation. It pays less tax and royalty than it should. It has built an airport at Obuasi, an indication of its wealth. Yet it has kicked against introduction of a 10% windfall tax.

All major sectors of our economy are controlled by foreign companies. We must learn to build our own roads, extract and market our minerals, gas and oil and undertake our own infrastructural development.

We brought in the Chinese to build Bui dam, construct the Jubilee gas pipeline and rehabilitate our railways. Now they have flooded the country and engage in illegal activity to our detriment.

We must move away from foreign investment, and begin to rely on our own selves.

Andani’s long-term view on cedi

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