You are here: HomeNews2020 09 01Article 1048045

Politics of Tuesday, 1 September 2020


Blame Rawlings for increase in foreign businesses in Ghana - Ken Agyapong

Kennedy Agyapong, MP for Assin Central Kennedy Agyapong, MP for Assin Central

Kennedy Agyapong, the Member of Parliament for Assin Central has said that former President Jerry John Rawlings is to blame for the foreign-dominated business scene in the country.

He said the singular initiative of Rawlings during the PNDC era to collapse Ghanaian owned businesses and entrepreneurship has brought the nation where it is today.

According to him, in one of the June 4th celebrations, the former President and founder of the National Democratic Congress(NDC) declared that Ghanaians should not patronize Apino soap.

“Rawlings killed the entrepreneurial skills of Ghanaians. Siaw, Kwahu's motors, Boakyes, Poku transport, Apino soap…it was during the celebration of June 4 that he declared Apino soap shouldn’t be patronised,” Agyapong said on Net 2 TV’s ‘The Seat Show’.

He also said high-interest rates by Ghanaian banks is also a contributing factor of the continuous rise of foreign businesses.

“All these foreign companies on the Spintex Road do retail and are not into production of goods, that is why there is a high demand for the dollar. Why they have taken over the economy of Ghana is as a result of the banks in this country.

“The interest rate is madness, but you see the NPP is priding itself with it because when we were elected in 2016, it was 36%, now it is 26% so we have done well. It’s ridiculously high [though and] we must do something about it. If not, foreigners will continue to control this economy and it's dangerous for us,” he said.

Join our Newsletter