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Diasporian News of Sunday, 22 March 2015

Source: CENAB UK

CENAB UK Hits The Road With Economic Conference On Ghana.

CENAB UK, a Ghanaian advocacy group yearning for economic and leadership change organised International Economic Forum on Ghana in London over the weekend.
CENAB UK Advocacy Group which is a broad coalition of patriots, friends, sympathisers, political admirers believes that Nana Addo Dankwa Akufo-Addo, and Dr Mahamadu Bawumia's leadership will be the best to project Ghana into prosperity through development, embedded in freedom.
CENAB UK hit the campaign trail with a conference that highlighted some of the challenges of the Ghanaian economy. Dr Akwasi Acheampong, President of CENAB USA, in his words while inducting the group's twelve-member committee at the opening of the conference, stressed and emphasised that CENAB is not a political party and it's not in competition with NPP local leadership in anyway, but rather exists as a complement to NPP efforts.

The special guests of honour who were invited to deliver speeches on the state of Ghana's Economy included Miss Manji Cheto, Vice president of TENEO Intelligence (UK Economist/Risk Analyst on West African Countries), and Mr Frank Adusei Stedman, Senior Enterprise Architect and Political Strategist.
In their various analysis, these distinguished guest speakers produced a dissected and carefully examined Ghana economy, with a diagnosis that the Ghana economy has developed deadly viral pathogens, that have already crippled the economy.
"Ghana has an economy that is struggling on a deficit of more than 60% GDP to debt ratio" they both stated. Expressing worries on the country’s huge debt ratio to its Gross Domestic Products, Ms Manji Cheto stated that Ghana is woefully indebted to the tune of 60% of its GDP, whilst that of Nigeria is only 20% of its GDP. This clearly suggests how weak the Ghana economy is. "Ghana, the independence pioneer in sub-Saharan Africa, has been set aback, principally by the weakness of the management of its economy. Over half a century as an independent country, Ghana is still a raw materials producer", Manji lamented.
She wondered why Africa, a continent with over a population of one billion can't create its own market but rather fights to compete with Western countries.

In his diagnostic analysis of the Ghana economy, Mr Frank Adusei Stedman, sentimentally referred to the Ghana economy as a "DEAD GOAT ECONOMY". Mr Stedman argued that, the 2015 budget clearly shows an economy in drastic decline. "While not providing any relief, it is evidently clear that, the 2015 budget will actually increase the suffering of Ghanaians by implementing some rather harsh tax measures, and by instead failing to address the fundamental issues of concerns and incentives for businesses to grow. I get worried, not only as a successful businessman and entrepreneur but as a Ghanaian investor," worried Mr Adusei stressed.
Further into his analysis of the Ghana economy, as a thoroughbred Ghanaian businessman and entrepreneur, Mr Stedman bemoaned the current state of setback that businesses in Ghana have been subjected to, with a further propensity of this effect projecting into prospective businesses, due to an uncontrollable spate of power outages.

"Compounding the current insufficient and unsustainable energy situation with currency instability, Investor confidence in Ghana is lost," he added, as he ended his statement with a deep sigh, whiles Ms Manji Cheto, in her inclusion also christened Ghana's 2015 budget as "A Taxing Budget" which provides less relief and hope for the Ghanaian populace. She wondered why African countries have reverted going back to the IMF, adding the recent $1 billion IMF bailout for Ghana was very necessary to support the ailing economy but may not be enough to change things, that much. She stated that, IMF conditionality usually makes things more difficult, but advised that Ghana should quickly go through the programme.

Mr Steadman squared the blame for the ongoing energy (Dumsor Dumsor) situation on a prevalence of misappropriation and corruption committed with impunity by public officials, and most especially, by the ruling NDC administration to enrich themselves within short period, whereby there is a President, who by himself has developed an unbridled indulgence for kleptomaniacs.

Mr Stedman sated that, it is not for noting that world market price of oil has fallen more than 50% in the last nine months and has now reached record five years low. What it means is that, a fall in crude oil price is always good for consumers in every country, simply because cost feeds into the price of every product.
In fairness therefore, whenever crude oil gets cheaper, everything else ought to become cheaper, but today, inflation rate in Ghana is still hovering around 17%. ....WHY?, he asked
"The question is, ...when will this oil price reduction trickle down to improve the life and living conditions for the ordinary Ghanaian?"

Mr Frank Adusei Stedman ended his speech with message of hope that: "much is lost, but not all. Ghana can recover from total collapse of economic mismanagement of NDC maladministration, but only if there is a change in Ghana's economic management, and leadership direction. I am a Ghanaian investor, and I believe Ghana has hard working and people, who are eager to change things. The land is blessed with riches. What is needed is a leadership that has the competence and commitment to make these riches work for the people to reach every home and family."
Welcoming the audience to the event, Mr Felix Kwamena Hamilton, a member of the group's Planning Committee, opined that energy efficiency and sufficiency has become an indispensable part of modern day life. Our work, leisure, healthcare, economy, and our entire livelihood, all depend on efficient energy supply, but the NDC government doesn't care. That today, Ghanaians have no choice but to accept dumsor dumsor as part of normal life in Ghana.

Mr Hamilton stated that, CENAB Advocacy group aims at highlighting these and other pertinent issues and various happenings in Ghana, as they occur, by inviting the candid opinion of various independent experts to share their views like this organised Economic Forum on Ghana in London. He emphasised that the group identifies itself an independent buffer zone between the organised opposition parties and non-traditional party members and the general public, to help people make informed decisions when it comes to deciding positively and beneficially in the choice of who their administrators should be, through the process of the ballot box. CENAB UK enthusiasts, who have proved themselves to be ardent admirers and supporters of Nana Addo and Dr Bawumia, positively defied the cold weather, and attended in their numbers. The event was not only colourfully represented with the somatic presence of some of the Ghanaian Traditional Chiefs and Queens in London, who attended the event, clad in their richly woven royal regalia, they imported into the function, the very soul and spirit of culture and tradition.
On behalf of CENAB UK and CENAB worldwide, Madam Susan Akomeah, expressed a profound gratitude to all and sundry who attended the event, most especially, nananom traditional chiefs and queens, and the distinguished guest speakers.


Richard Bioh: +44 7877 953212
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