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Business News of Tuesday, 6 February 2018

Source: mynewsgh.com

Akufo-Addo’s government cannot stabilize the cedi - Odike

Businessman and politician, Mr. Akwasi Addai Odike is of a strong opinion that the Akufo-Addo government cannot stabilize the cedi depreciation in the country unless there is a ban on importation of goods.

“From time immemorial, no government has been able to appreciate the cedi against the dollar and other major foreign currencies”, the founder of the United Progressive Party (UPP) disclosed challenging those with a contrary view to come out.

“I want people to come out to state their opinion and offer alternative ideas that will help government policies and programmes such as one district one factory, one district one dam and several others by this government”,

Mr. Akwasi Addia Odike who spoke on Kumasi-based Nhyira FM’s morning show therefore explained that the liberalization of trades in West Africans including Ghana is making it difficult for the people to consume locally manufactured products.

“It is also the cause of exacerbating unemployment situation in the country”, the businessman indicated to show host Aduanaba Kofi Asanti Ennin.

“This has curtailed our local industries and importation is now the order of the day in Ghana”, Mr. Akwasi Addai Odike observed blaming the erstwhile National Democratic Congress (NDC) administration of collapsing his businesses.

He blames the previous administration for its inability to put in place measures aimed at protecting local businesses in the wake of the proliferation of foreign ones coupled with bad policies by the then government.

Though the private sector has been touted as the engine of growth and one of the major employers in the country, he disclosed that it was not given the needed attention under the John Mahama administration which is why his businesses came crumbling.