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Opinions of Saturday, 23 August 2014

Columnist: Fiagbeto, Yao

Is the Ministry of Foreign Affairs performing its role

..........as an important arm of government?

By Yao Fiagbeto

Ministry of foreign affairs is an important arm of government but is the ministry utilizing every single opportunity available to the credit of Ghana? The answer is no, because all over the world foreign mission real job is to identify investment potentials in various countries. An opportunity for their home government to invest and earn needed foreign currency reserves to support their domestic economies. But the reverse is happening to Ghana. Our Foreign Affairs Ministry main focus throughout the years only serve as a conduit for other countries to come to Ghana and exploit our scare resources.


Therefore, our government should sit up, because all that glitters is not gold. Getting loans, grants and foreign direct investment for infrastructural development will only change physical appearance of our country and create well sophisticated, vicious, small greedy elite class while majority of Ghanaian living abject poverty.



If we take a close look at some of these western countries formulating policies and advising Ghana on our economic growth, you will notice ghettos and slams with stunning poverty in their countries. These countries have the intent to invest and are investing millions of dollars in Ghana’s economy with the main purpose to maximize earnings, and repatriate their booty to their home countries to support domestic economic programs without going to the IMF.


Our foreign missions abroad have failed Ghana time again and again; they missed the boat on the above. And in the absence of understanding the objectives of such august foreign office operations, Ghana’s missions or consulates abroad remain uninformed about this center piece, thereby noted only for organizing and participating in high powered loans, grants, IMF and capacity building seminars and banquets.



Therefore, what our Ghanaian missions abroad must do is to have an explicit mandate, that is, to study investment opportunities that exist in those foreign domestic (local) markets. This is the way Ghana can also create and sustain it’s foreign currency earning opportunity which will be use for purchasing machinery and other industrial components that are not produce in Ghana.



India for example, is taking approx. thirty five million dollars from the India economy to invest in Komenda sugar industry in Ghana. Such an amount could do a lot in the slams of Bombay, Mumbai and the remote areas in India. This single action of India, secures them with wealth creation pathway with enormous foreign currency reserve account opportunity in Ghana. Ghana can do same in other countries to attain certain financial posture and cushion for our economy.


Yaofiagbeto
Concerned Citizen
Atito via Anloga
0507660310, 0545111790