Domestication, antidote to Ghana’s dollarised economy: GCPP Leader

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cha 10 years ago

Mahama must go

Mahama must go
kb 10 years ago

We want to come to power by all means. We get the power. Then we want to stay in power, so we bend the rules, we don't act (Sodom & Gomorrah). After winning the elections we turn on the propaganda to win the next elections in ...
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We want to come to power by all means. We get the power. Then we want to stay in power, so we bend the rules, we don't act (Sodom & Gomorrah). After winning the elections we turn on the propaganda to win the next elections instead of getting to work! Is this democracy we wanted? General Acheampong did not get even one dollar loan but succeeded with Operation Feed yourself!! He built a lot of infrastructure and made us patriotic. remember The National Pledge? Dr. Lartey, I am with you.
stonepillow 10 years ago

Walk into any super-market and count the made-in-Ghana products. You can even see it on the Streets: apples, grape fruit, don Simon, ...

Walk into any super-market and count the made-in-Ghana products. You can even see it on the Streets: apples, grape fruit, don Simon, ...
BBC NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 10 years ago

Shame unto that tribal bigots kofi nyaku in Holland for criticizing Ghanaians , especially the NDC sympathizers on his akan's npp radio show in abroad to certified his akan's npp party. We can listen to u from far here in Gha ...
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Shame unto that tribal bigots kofi nyaku in Holland for criticizing Ghanaians , especially the NDC sympathizers on his akan's npp radio show in abroad to certified his akan's npp party. We can listen to u from far here in Ghana. Go ahead and heckle them anytime they call your Tweeeeeaaaaa!! Show to contribute, your akan's npp party will lose again in 2016. If you know better , u must advise your uncle nana binladdo and your npp party to stop terrorising mother Ghana.
Cape Coast 10 years ago

you are still living in fools paradise! Wake up and face realities!

you are still living in fools paradise! Wake up and face realities!
GHFUO, be serious & change ur MENtali 10 years ago

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 CREAT ...
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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.
STRENGHTEN COMMERCE FACTORS SURROUNDING THE ECONOMY SO THAT THEY INDIRECTLY AFFECT THE POSITIVE STRENGTH OF THE CEDI. RATHER THAN TAKING SPECIFIC CEDI REVAMP MEASURES
F/I THINK ITS TIME THE BOG AND THE MIN OF FINACE MADE THIS ILLEGAL. IF YOU ACEPT FOREIGN CURRENCY AS LEGAL TENDER IN EXCHANGE FOR GOODS OR SERVICES IN GH. YOU THE ACCEPTEE MUST BE ARRESTED AND MUST SPEND AT LEAST 3MTHS IN JAIL,PLUS A FINE OF TRIPLE THE AMOUNT OF FOREIGN EXCHANGE YOU ACCEPTED.
THIS ALONE WILL CAUSE BUSINESSES LIKE HOTELS ETC FROM ACCEPTING OR PRICING IN DOLLARS OR ANY NO GH CURRENCY. THIS INCLUDES CHURCES TOO...LOL
Odikr@ 10 years ago

The Suggestion of Domestication is desirable.
It is our only way out,coupled with adding value to our primary resources,seafood,fruit and vegetables...excetera excetera

The Suggestion of Domestication is desirable.
It is our only way out,coupled with adding value to our primary resources,seafood,fruit and vegetables...excetera excetera
Nii Akwei 10 years ago

Find a better word to describe your agenda.

Find a better word to describe your agenda.
nii 10 years ago

Yes , Yes yES, WE STILL HAVE some INTELLIGENT PEOPLE AROUND.tHAT IS THE ONLY WAY OUT. THIS IS SO SIMPLE AND IT WILL WORK.

Yes , Yes yES, WE STILL HAVE some INTELLIGENT PEOPLE AROUND.tHAT IS THE ONLY WAY OUT. THIS IS SO SIMPLE AND IT WILL WORK.
Mans, London 10 years ago

There has always been this feeling that the country's economy is not well managed. When you are lax, careless, and reckless and lack commitment to qualitative change, you tend to adopt pragmatic measures to please when in act ...
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There has always been this feeling that the country's economy is not well managed. When you are lax, careless, and reckless and lack commitment to qualitative change, you tend to adopt pragmatic measures to please when in actual fact the solution lies elsewhere. This President will need to be himself and be very firm in what he has set out in the manifesto to do. Ghanaians are not stupid. We know what we want but the problem is the President. He is too lax and somehow lacks that effective single bite. It is very worrying how long it took for this government to correct mistakes with the Chinese. The Chinese used different covert and concerted efforts, taking advantage of our lax systems and responses to plunge our long-protected environment and resource to their advantage; and, in the process, turned these productive areas into dangerous no-go places. Our natural waters, rivers and lakes are no longer fit for purpose and now it is dangerous to engage in farming. Worst of all, the gold, diamonds and serene environment and infrastructure are all exploited and destroyed for their benefit.

At the moment, foreigners have taken over sensitive parts of small scale trading to the neglect of the Ghanaian folk leaving hard pressed youngers to enter illicit working - be it prostitution or armed robbery, they just engage in anything. There is nothing to indicate the presence of any control and certainly, this government is not seen or felt as a government of any purpose. The economy of Ghana is simply not in the hands of Ghanaians and crime is so rampant that the average immigrant is encouraged to travel to Ghana because it is easier to commit atrocious crimes and get away with them in Ghana than in their own countries. This is because this government is doing what Ghanaians do best - to hold up to and be at the apogee of democracy and the rule of law even if that means exposing the citizenry to risks, crimes and danger whilst they the politicians engage in wanton stealing, naked corruption and shameless deceit. Democracy is good but this brand adapted in Ghana is sickening.

This Ghanaian brand of democracy is certainly sick and unfit for purpose. Therefore, two things must happen. First, the President may have to sack a lot of his ministers and advisors. The chief justice in particular must be independent-minded like Amidu and should be capable of disagreeing with everybody including the President except the letter of the law. If Mahama is a courageous President, it should not be difficult for him to bring back Amidu, for that move will do him a world of good. Secondly, the President must be very hard, resolute and extremely proactive. These two changes are all that is required to stamp out the nonsense in this government. You may think that I am an NPP person but I am not. I am just a disappointed NDC man.
Odikr@ 10 years ago

Perhaps,domestic tourism should be promoted more often.
Kakum canopy walk.
Mole safari
Paga crocodile lagoo
Nzulezi village on stilts
Lake Bosomtwi
Wli waterfalls

Perhaps,domestic tourism should be promoted more often.
Kakum canopy walk.
Mole safari
Paga crocodile lagoo
Nzulezi village on stilts
Lake Bosomtwi
Wli waterfalls
HAZOR 10 years ago

First before i write my opinion,Why has parliament failed to investigate and interrogate Mahama Ayariga on the stolen tractors and US$44million Altas textbooks which he import without meeting Ghana Education standard.Yes, I a ...
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First before i write my opinion,Why has parliament failed to investigate and interrogate Mahama Ayariga on the stolen tractors and US$44million Altas textbooks which he import without meeting Ghana Education standard.Yes, I agree with GCPP leader on domestication as antidote Ghana's dollarised economy.In my opinion,Ghana should make cassava as their number two cash crop after cocoa.Cassava if gave it a care can bring dollars to the country.Both Ghana and Nigeria population is close to 200million people and these two countries consume alot of gari.The brewery industries are now using cassava to brew beer which is now on high demand and cassava starch is on high demand for industral use.Government is to blame for Ghana addicted foreign products and goods.Government always boycotts domestic contractors and gives contracts to foreigners and buy from foreign and boycotts locals.Yesterday government brag that it has brought 1000 cars for Ghana Police service as logistics to carry their duties and could not buy or order Apostle Safo to produce 100 cars for try to see compare it durability and lasting achivement of Ghana own technology or SMATI 1 not even one to last just 18 minites like the wright brothers airplane duration in the sky not even one car.But nkonfem that do not belongs to Ghanaians only comes to feed on our soil and flew back to the home country Burkina Faso after good meal got GHC15million budget and dry harmattan season tree planting with no sign of ground digging or dead trees standing as proves of planting got GHc33 million.Did Ghanaians and Ghana Government take any action absolutely not.If Ghana has ordered 100 cars from Apostle Safo and all his cars last for 1year he has created jobs and there will be a room for improvement and has save Ghana some dollars.Am calling on All Ghanaians to do themself a favor.Continuous doing quality jobs for foreign contractors alway sent a strong signal to government the foreign contractors are competent.Government do not care if the work was done by Ghanaians that government regard them as useless unqualify less imaginalise Ghanaians as foreign contractors hire them to do the work and took the glory and the Ghanaian workers took their by day pay.It time Ghanaians have to sabotage the work doing for these foreign contractors who are taking their your jobs if they want to be poor and ake the foreigners rich.Any way your taxes pay for them and you live in poverity.Are you folks fools think about it.
Odikr@ 10 years ago

Wow ,your depth of feeling on this issue is amazing.
How come it has taken you this long?

Wow ,your depth of feeling on this issue is amazing.
How come it has taken you this long?
HAZOR 10 years ago

First of all,I depend on locals for information.Secondly,I don't write our of ignorant and prejudice.It is not all articles or news that write my comment and contribute to.I only write on facts and deception and reality.I thi ...
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First of all,I depend on locals for information.Secondly,I don't write our of ignorant and prejudice.It is not all articles or news that write my comment and contribute to.I only write on facts and deception and reality.I think GCPP leader make sense and did not go further that is why i came up with this comment.Thank you for commend my opinion.
Johnny USA 10 years ago

THANK YOU DOMESTICATION FAMILY.YOU ARE RIGHT.

THANK YOU DOMESTICATION FAMILY.YOU ARE RIGHT.
William Sorkpor, USA 10 years ago

The problems facing our country are global political economics in nature. A typical example is given by the Quantitative Easing policy of the U.S. Federal Reserve.

Our problems manifest the extent to which we are failing ...
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The problems facing our country are global political economics in nature. A typical example is given by the Quantitative Easing policy of the U.S. Federal Reserve.

Our problems manifest the extent to which we are failing to manage both the macro and micro economics of our country. In perspective: we are taking on too much debt; failing to generate enough revenues domestically; and relying too much on our foreign exchange earners.

We must guard against touting simplistic solutions.

We must allow the president to lead the way.

We must refrain from inflaming the public with suggestions that the government is inept.

Above all, we must stop the cynicism, and show some faith in the
government.

If we can start showing some faith in our government, then we can start having faith in the cedi.

We shall be halfway through solving our problems, if we can make the necessary effort to change our bad socio-economic behaviors.

May Lord Almighty continue to bless our beloved Great Ghana:
Amen!!!
Odikr@ 10 years ago

Pragmatic solutions are inherently simple commonsense approaches.
No need to complicate.

Pragmatic solutions are inherently simple commonsense approaches.
No need to complicate.
William Sorkpor, USA 10 years ago

You don't need me to tell you that, the Ghana economy is not a Mom and Pap shop.

We cannot grow and expand it by buying a couple of freezers to store fish, mangoes, oranges, plantains, etc.

Where is the market for th ...
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You don't need me to tell you that, the Ghana economy is not a Mom and Pap shop.

We cannot grow and expand it by buying a couple of freezers to store fish, mangoes, oranges, plantains, etc.

Where is the market for the fruits, vegetables, and fish the author is alluding to?

Is the market for these highly perishable commodities in Togo, or France, or Great Britain, or U.S., or Japan, or China?

Ghana cannot grow, and expand its economy, or earn enough foreign exchange by exporting highly perishable commodities to far away countries. It's not practical enough!

The author of the article is not talking with any level of economic sophistication.

The domestic aspect of the solution to our problem can be summed up as follows:

"Unless Ghana can produce some of the things that it consumes, and consume some of the things that it produces the economy of Ghana will not expand."

The implementation of this economic philosophy cannot be based on a knee-jerk reaction. It would require a change of the bad socio-economic conduct of Ghanaians, -- the failure to embrace all things Ghanaian.

There is one immediate action Ghanaians can take to reduce the country's trade deficit, and shore up our balance of trade: eat more fresh fish, fresh vegetables, fruits, and nut; smoke less; and drink less alcohol.

The caviar:government would not only spend less on imports, but also less in treating preventable diseases.

This is pragmatic enough.

May Lord Almighty continue to bless our beloved Great Ghana:
Amen!!!
Odikr@ 10 years ago

Perishablles are flown into the UK from Newzealand and Austalia.
Quality not Quantity is the major driver.

Perishablles are flown into the UK from Newzealand and Austalia.
Quality not Quantity is the major driver.
Sankofa 10 years ago

Yes, we must rally behind the gov't and support what it is doing to develop our economy.

Dr Lartey's solution is not simplistic. He is actually right. We must export more than we import. This is the way to halt the run on ...
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Yes, we must rally behind the gov't and support what it is doing to develop our economy.

Dr Lartey's solution is not simplistic. He is actually right. We must export more than we import. This is the way to halt the run on the cedi.

I would add that we must set up our own companies to mine our gold, oil and gas as well as all our other mineral resources. We must learn to build our own roads, railways and other major infrastructure. That way the profits accrue to us, and remain in our country for further investment. This also reduces the need to borrow externally, ultimately a drain on our reserves.
Raa 10 years ago

Ban importation of finished goods and ask everyone to start manufacturing. Instead help them build the supply chain needed.

Ban importation of finished goods and ask everyone to start manufacturing. Instead help them build the supply chain needed.
JOE 10 years ago

THIS IS NOT NEW AND GHANAIAN LEADERS ESPECIALLY THE NPP, NDC ARE IMPORTERS OF FOREIGN PRODUCTS EVEN GABBAGE WHICH HAVE RESULTED IN A LOT OF CANCER DISEASES IN GHANA. SOUTH AFRICA CURRENCY DECLINE IS AS A RESULT OF LABOUR, FAL ...
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THIS IS NOT NEW AND GHANAIAN LEADERS ESPECIALLY THE NPP, NDC ARE IMPORTERS OF FOREIGN PRODUCTS EVEN GABBAGE WHICH HAVE RESULTED IN A LOT OF CANCER DISEASES IN GHANA. SOUTH AFRICA CURRENCY DECLINE IS AS A RESULT OF LABOUR, FALLING GOLD PRICES NOTHING ELSE. EVEN GHANA ISSUES TROPICAL COUNTRY SHOULDN'T BE IMPORTING RICE, GABAGGE CHICKEN, TOOTHPICKS IS A SHAME SHAME
Kalahariman 10 years ago

The failures of NPP in implementing HIPC policies during their regime is responsible for the economy chaos in Ghana today.

During tenure of NPP under President Kufour, he declared Ghana an HIPC country in 2001 to 2008. Th ...
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The failures of NPP in implementing HIPC policies during their regime is responsible for the economy chaos in Ghana today.

During tenure of NPP under President Kufour, he declared Ghana an HIPC country in 2001 to 2008. The IMF and World Bank forgave Ghana some 4 billion dollars in debt relieve on conditions this money was to be used in reducing the poverty standards of the Ghanaians.

“The enhanced HIPC relief is expected to reduce debt service payments due by about US$215m per year on average between 2002 and 2011. In 2002 the debt relief for Ghana is US$249m. It is made up of US$153m of traditional debt relief and US$96m of HIPC relief. Twenty percent of the HIPC debt relief is to be used for domestic debt reduction and the remaining 80% is earmarked for poverty reduction programmes and activities.”

Just to touch on a few of the conditions given by IMF and the World Bank, it was agreed that the relieve in debt will be used to:

(1) Increase the Percentage of rural households with access to safe water to increase from 40% on 2000 to 46%. The NDC government just announced that they are spending 750 million dollars to provide clean water to Ghanaians so what did the NPP government do with the HIPC money there were receiving during their regime?.
(2)Decentralisation Submission to Parliament of a Local Government Services Bill Develop a monitoring system to provide regular data on local government activities.
(3) Energy Maintain the automatic pricing formula in petroleum Full economic pricing in the electricity sector with provision of lifeline to allow access to electricity to low income consumers.
(4) Installation of a computer based financial management information system on a pilot basis in the Ministry of Finance, CAGD and at least tow key sector ministries.

It is noted that the 3 Northern regions which are the poorest of the regions received the lowest in elevating poverty in their regions.

The Kufour administration enjoyed almost a free ride on HIPC and now that Ghana is no longer on HIPC, the reality is hitting home. We are back to more borrowing to sustain our economy. Some economist say we are bound to another HIPC..

” Ghana’s public debt stock, according the Central Bank’s Monetery Policy Committee, increased to GH¢43.9 billion, about 49.5 percent of GDP at the end of August 2013

Out of this, the domestic component amounted to GH¢24 billion compared to GH¢18.5 billion in December 2012.

The Centre for Policy Analysis (CEPA), last year warned that the country could return to HIPC if the government does not control its borrowing and spending. “

I will end with some positive ways on how Ghana can get out of this fast moving wrecking train. But first, we must learn from our past mistakes.
(1) Encourage domestic and international businesses by providing a good climate to do business in the country at the same time ensuring that businesses pay their fair share of their taxes.
(2) Stop taking loans from financial organizations or countries that are schemes like the Chinese 3billion loan.
(3) Add value to the natural resources: cocoa, gold and oil.
(4) Stem out corruption
(5) Encourage manufacturing of Ghana Made products.
(6) Encourage Agriculture
(7) Decentralize Government services eg you do not have to travel to Accra to have a passport made if you live Bolgatanga.There should be a branch or a place in Bolgatanga that you can go to have that done. That will also provide employment in Bolga.
(8) Encourage domestic industries to increase exports
(9) Encourage domestic industries to use locally found resources in their manufacturing than importing.
Kalahariman 10 years ago

HIPC fund went to enrich the Kufour family. The figures are there to prove it.

HIPC fund went to enrich the Kufour family. The figures are there to prove it.
Joe 10 years ago

THAT IS THE BASIC TRUTH WE CANNOT CONTINUE TO BORROW AND MAKE NOISE OURS IS TO PRODUCE WHAT WE WILL EAT AND EAT WHAT WE PRODUCE TOO MUCH WE KNOW EVEN THE OPPOSITION ARE NOT GOING TO DO BETTER SO YOU HAVE SAID THE FACT

THAT IS THE BASIC TRUTH WE CANNOT CONTINUE TO BORROW AND MAKE NOISE OURS IS TO PRODUCE WHAT WE WILL EAT AND EAT WHAT WE PRODUCE TOO MUCH WE KNOW EVEN THE OPPOSITION ARE NOT GOING TO DO BETTER SO YOU HAVE SAID THE FACT
Kalahariman 10 years ago

We don't produce wheat but our taste for bread made out of wheat is so high that we import over a billion dollar worth of wheat yearly. Bread is not only made out of wheat. We can also made bread out potatoes. In the USA is c ...
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We don't produce wheat but our taste for bread made out of wheat is so high that we import over a billion dollar worth of wheat yearly. Bread is not only made out of wheat. We can also made bread out potatoes. In the USA is called potato bread and it tastes better than the wheat bread. Potatoes can be grown locally. Just one of the areas we can change.
STONER KOBYLYNTON 10 years ago

Hei Kalahariman, I like your input but you failed to know that without bread flour, there is no way you can make and get the best potato bread. You can google and find the recipe to make good potato bread. E&OE.

Hei Kalahariman, I like your input but you failed to know that without bread flour, there is no way you can make and get the best potato bread. You can google and find the recipe to make good potato bread. E&OE.
TUTULAPATO 10 years ago

ALL THESE IMMIGRANTS IN US SLUMS BROOKLYN, BRONX, NEW JERSEY, PHILLY SHOULD JUST SHUP UP AND DO YOUR MENIAL JOBS. YOU GUYS SEEM TO KNOW EVERYTHING ABOUT HOW THE NATION SHOULD MOVE FORWARD, WHY DON'T YOU COME HOME TO IMPLEMENT ...
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ALL THESE IMMIGRANTS IN US SLUMS BROOKLYN, BRONX, NEW JERSEY, PHILLY SHOULD JUST SHUP UP AND DO YOUR MENIAL JOBS. YOU GUYS SEEM TO KNOW EVERYTHING ABOUT HOW THE NATION SHOULD MOVE FORWARD, WHY DON'T YOU COME HOME TO IMPLEMENT YOUR IDEAS. GIVE US A BREAK WITH "IN THE US" " IN THE US". WE ARE NOT THE USA, WE ARE GHANA, GET IT IN YOUR STUPID HEADS, WE ARE TRIBALISTS, BIGOTS, WE DON'T HAVE RESPECT FOR RULE OF LAW.
bobostone 10 years ago

Getting a loan facility from the bank to run a 100-acre palm oil plantation project in my village (Huni Valley, Western Region), which could have created employment for the rural folks could not materialize. Our leaders do no ...
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Getting a loan facility from the bank to run a 100-acre palm oil plantation project in my village (Huni Valley, Western Region), which could have created employment for the rural folks could not materialize. Our leaders do not understand the concept of domestication. This is rather unfortunate. Malaysia, the current leading producer of oil palm fruits, bought the seed from Ghana in 1957(?). It's affront to the Nation, that after so many years we still have not created the conducive atmosphere in the area of agriculture to entice the youth to go into farming. Our leaders have woefully disappointed us. Let's vote them out and bring in people who can govern; people who understand how to build an economy; people who are forward looking; people who put the nation ahead of party politics; people who will add value to our farm produce.
ISAAC OFORI AGYEMANG 10 years ago

Well said Lartey,but remember those agro-based export will never trim down the large deficit we have. Our taste for foreign goods have grown over the past decades. thousands of Ghanaians want to ride in latest Toyota and Merc ...
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Well said Lartey,but remember those agro-based export will never trim down the large deficit we have. Our taste for foreign goods have grown over the past decades. thousands of Ghanaians want to ride in latest Toyota and Mercedez. Remember those high priced goods are not made in our country and do u know the ammount of Agricultural products we need to export to arrive at an even dollar exchange of a single car...Support scinece and technology. creativity, industrial growth,IT is the driving force of every nation. final idea...like the Japans did during the great depression in 1930, consume what u produce and reduce the consumption of foreign goods..
Layla 10 years ago

You are missing the context. GH cedi is falling in no small part because of US Fed policy, specifically QE tapering. Bond returns are going up in US, so those investors who pumped money into emerging market currencies like Gh ...
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You are missing the context. GH cedi is falling in no small part because of US Fed policy, specifically QE tapering. Bond returns are going up in US, so those investors who pumped money into emerging market currencies like Ghana are shifting their investments back to the US in pursuit of greater returns. This is decreasing the demand for cedis, and therefore its value.
Gyan 10 years ago

We welcome domestication 2016

We welcome domestication 2016
Gyan 10 years ago

We welcome domestication 2016

We welcome domestication 2016

Domestication, antidote to Ghana’s dollarised economy: GCPP Leader

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