January is almost gone. Are you yet to start something? Still confused about what investment options to choose for the year to maintain steady cash flow? Think about it -everyday, both the employed and the idle are hooked to ... read full comment
January is almost gone. Are you yet to start something? Still confused about what investment options to choose for the year to maintain steady cash flow? Think about it -everyday, both the employed and the idle are hooked to one important device - their smartphones! That's an idea right?; with huge market potential! Turn it to money. Get "Mobile Phones and Tablets Repairs " from Amazon marketplaces, Barnes & Noble, eBay or check the estore @ https:// www.createspace.com/6165716 to learn about the product. *Paul planted, Appollos watered BUT #God GAVE the increase! *
Kwabena Yeboah 7 years ago
There is a palpable evidence beyond all reasonable doubt that all Ghanaian governments right from Dr. Kofi Abrefa Busia's administration in the early 70s, through Rawlings' 19 years in office and through JA Kufuor's 8 years a ... read full comment
There is a palpable evidence beyond all reasonable doubt that all Ghanaian governments right from Dr. Kofi Abrefa Busia's administration in the early 70s, through Rawlings' 19 years in office and through JA Kufuor's 8 years administration, down to JD Mahama's corrupt administration, have no knowledge of nation building let alone governance. It is a shame that every now and then, we have governments that promise us the world, knowing very well they do not have the knowledge or the acumen to deliver the promise.
Isn't it a shame that the IMF has an indomitable presence in all our governments except Dr. Nkrumah and Kutu Acheampong. If the goal of IMF is to help countries a) secure financial stability, b) promote high employment and sustainable economic growth, and c) reduce poverty through its structural adjustment programs, then are these not the same reason why we elect our governments? If our governments know what they are doing, why has the IMF become a fixture in all our governments except two since independence? It means the Ghanaian and moreso the African has no aptitude for nation building.
It is the IMF that caused the overthrow of Busia's government when it forced the Busia administration to devalue the cedi. Kutu Acheampong kicked the IMF out, only for it to resurface again under JJ Rawlings in 1983. For more than 19 years, Rawlings and Kwesi Botchway, the longest Finance Minister in our history, gave the IMF full control of our economy as it prescribed the most draconian structural adjustment ever known to any country. First it forced the government to devalue the cedi, then ordered the Rawlings government to sell (divest) all state-owned enterprises at the devalued cedi, claiming they were not profitable. This is why today the corporate landscape is full of foreigners - Indians, Lebanese, Syrians, British, French, Germans, etc.
JA Kufuor was the luckiest of all our Presidents, but instead of taking advantage of the goodwill from the west in Ghana's smooth transfer of power, and unprecedented increase in the price of gold and cocoa in the world market, JA Kufuor declared the country HIPC under the auspices of the IMF, and gave this same institution control of our economy once again. The divestiture continued in a whirlwind under Kufuor where three marquee companies were sold off. JA Kufuor sold off Ghana's most prolific foreign exchange earner, Ashanti Goldfields Ltd. to Anglogold, a British gold company domiciled in South Africa at the time.
Ghana Airways and Ghana Telecom followed, as Ghana Telecom was sold to another British company, Vodafone. As the white man would say, there is no free lunch, and that means always running to the IMF for bailout has its cost. While Ashanti Goldfields Ltd with its rich gold deposits in Obuasi and holdings in other parts of Africa was sold for a mere $1.4 billion, Ghana Telecom was also sold for a mere $266.57 million. No wonder Sam Jonah was Knighted in the Ashanti Goldfields Ltd. deal, and JA Kufuor went to Buckingham Palace to have tea with the Queen. This is the true nature of the African - perfidious and duplicitous.
For goodness sake, I am asking Akufo-Addo administration to sever all ties with the leech Bretton Wood organization and prove to Ghanaians his government can do without the IMF. The IMF has sucked too much of our blood. ENOUGH IS ENOUGH. None of the Asian Tigers; Taiwan, Korea and Singapore sought the input of the leech IMF, yet their income per capita is over the roof. It is time for Africans to show the world we have the brains and the aptitude to manage our economies, and that is why kicking out the IMF will be the first sign of competence in our abilities.
January is almost gone. Are you yet to start something? Still confused about what investment options to choose for the year to maintain steady cash flow? Think about it -everyday, both the employed and the idle are hooked to ...
read full comment
There is a palpable evidence beyond all reasonable doubt that all Ghanaian governments right from Dr. Kofi Abrefa Busia's administration in the early 70s, through Rawlings' 19 years in office and through JA Kufuor's 8 years a ...
read full comment