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Business News of Monday, 28 February 2022


Bawumia is 'digitalising' and e-passporting' while economy is on its knees – Analyst

Vice President of Ghana, Dr Mahamudu Bawumia Vice President of Ghana, Dr Mahamudu Bawumia

The West African Regional Coordinator of the Commonwealth Alliance of Youth Entrepreneurs (CAYE), Mr. Bernard Oduro Takyi, has chided President Nana Addo Dankwa Akufo-Addo’s economic management team for being so loud on their prowess than managing the economy.

According to him, the men at the helm of managing the economy are so full of themselves yet are unable to arrest the fall of the cedi.

Mr. Takyi said the fundamentals of Ghana’s economy are weak, yet the economic managers are all over the place boasting about being better economic managers in the history of the country.

In his view, even though former President John Agyekum Kufour was not a good orator, he chalked GH¢1 to a dollar.

In the same development, he noted that Ghana’s Gross Domestic Product (GDP) hit 14.3 percent, the biggest in the history of the country under late President John Evans Atta Mills.

“These people hardly talked, yet they chalked these successes and never boasted like today’s economic managers who are full of boasting, even at the time the economy has nosedived,” he said.

The CAYE Regional Coordinator chided the economic managers in an interview on Accra100.5FM’s morning show Ghana Yensom on Monday, 28 February 2022.

“If you use talking to run an economy, you will end up building castles in the air”, he warned, adding: “If you boast to run an economy, the dollar will expose you.”

Mr Takyi noted that “In managing an economy, you cannot build something on anything.”

He said Ghana’s bad economy has led to her poor rating by all the rating agencies.

He bemoaned that the current government has received about GH¢600 billion in loans and grants in the last six years yet there is nothing to show for it.

“Instead of managing the economy, Vice-President Dr. Mahamudu Bawumia is out there talking from digitalization to making Ghana card an e-passport among others, leaving the economy on its knees,” he stated.