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Business News of Saturday, 26 August 2017


Akufo-Addo promises to grow economy to 9% in 2018

President Nana Akufo-Addo has made a religious commitment to fulfill all major campaign promises made in the heat of the 2016 elections.

Speaking to thousands of delegates at the 25th National Delegates' Conference in Cape Coast, the president said the failure of past administrations to fulfill campaign promises made to voters, have in no small way undermined the country’s democracy.

In order to restore hope in politicians and confidence in democracy, the president said all the major promises he made in the heat of the 2016 elections will be fulfilled.

But the promises were many, some very ambitious. The Nana Addo-led government promised a free senior high school education, one district, one factory, one village, one dam in the three northern regions, a stable economy hinged on production and not taxation, an industrialised sector with lots of jobs for many unemployed youth.

Based on these promises, his government was given an overwhelming mandate and the time has come for the president to deliver on the promises. Holding its first delegates conference after the victory to assess the government's eight months in office and to make amendment and reforms, the president said the choice of Central Region as venue for the delegates' conference is a reward for the phenomenal support the party had from the Central Region.

“The conference is an opportunity to congratulate everybody for the sacrifice for the great victory. Every part of Ghana responded to our call but no one responded more than the Central Region,” the president said.

With only seven seats before the 2016 elections, the NPP won 19 out of 23 seats in the Central Region and the party is hoping to consolidate those seats in the next election.

President Akufo-Addo said the conduct of every single member of the party in government, including himself will determine whether or not the party will be retained in power.

Outlining three major objectives in government the president said his aim was to put together a solid government machinery to steer the affairs of the state, something he did in record time.

He said the major preoccupation of the government is to create an enabling environment for the private sector to create jobs for the people. “It is not possible for all of us to have jobs in the state machinery. There are not enough jobs here,” the president said.

Unlike the socialist government which has a government-led job creation model, the president said as a capitalist minded party in government their model is to empower the Ghanaian individual, the private sector to create jobs for the people.

But that cannot be done under a “dysfunctional and disabled economy the party inherited from the NDC,” he suggested.

As a result the second and most important objective is to rehabilitate the economy and put it on sound footing.

Even though it inherited an economic growth rate of below 4%, the government in its “Asempa budget” targeted a 6.3% growth rate in 2017.