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Business News of Friday, 18 December 2020


Political tension likely to collapse economy – Analyst

Former president, John Dramani Mahama and President Nana Addo Dankwa Akufo-Addo Former president, John Dramani Mahama and President Nana Addo Dankwa Akufo-Addo

An investment analyst Patrick Abankwa Baah has observed that investors are likely to pack out of the country if the political tension is not doused immediately.

There have been protests by supporters of the main opposition National Democratic Congress (NDC) in some parts of the country after the December 7 elections.

This follows the refusal of the Presidential Candidate of the NDC, John Dramani Mahama to accept defeat after he accused the Electoral Commission (EC) of manipulating the electoral results to favour the incumbent president.

On Thursday after a group of NDC supporters demonstrated near the headquarters of the EC, 26 of them were arrested by the police.

Speaking in an interview with TV3, Abankwa Baah called for an end to these issues immediately because of their possible effect on the economy.

“If there is so much confusion people won’t bring their investments into the country to set up businesses to employ Ghanaians."

“They will be dragging their feet and rather send their investments to other neighbouring countries which is going to have a negative effect on our country."

“So we should be mindful of these things to ensure peace in the country.”

Meanwhile, US Ambassador Stephanie S. Sullivan has met with former President John Dramani Mahama barely a week after he rejected the results of the December 7 general elections.

The US Ambassador also met Mr. Mahama’s running mate in the elections, Professor Naana Jane Opoku-Agyemang, at the meeting on Thursday, December 17.

They “discussed the recent elections”.

The US envoy is said to have urged not only the 2020 Presidential Candidate and Vice Presidential Candidate of the National Democratic Congress (NDC) but also all political parties “to pursue legal channels for any electoral disputes and to preserve the peace in Ghana”.