You are here: HomeWallOpinionsArticles2020 12 03Article 1124930

Opinions of Thursday, 3 December 2020

Columnist: Caucus for Democratic Governance-Ghana

Why Akufo-Addo must go

Memory Lane

Walking through the memory lane, Caucus for Democratic Governance, Ghana (CDG-GH) recalls the famous rhetoric from Nana Addo in 2016, translated means “we are sitting on money yet we are hungry, if you give me power I will change the situation”. We gave him power the last four years and our people are still hungry and our water bodies and mining area are miserable and worse off than before.

Most Corrupt Country

We are now one of the most corrupt countries in the world, with a corruption index of 41; the lowest ever. From 2017-2020, Ghana lost Ghc120 billion as a result of corruption. Our national tax revenue is less than Ghc42 billion, out of which 38 billion is used in servicing our foreign debt. However, our foreign and domestic debts add up to 56 billion; which presupposes that we are using borrowed money to pay our debts.

National Debt

Rawlings, Kufuor, late Mills and Mahama in 2016 left a national debt of Ghc122 billion. The total national debt now has risen to 272 billion. This means Nana Addo alone has borrowed Ghc150 billion; the highest amount borrowed by a single President since Dr Nkrumah. The question is: what did he do with the money? According to IMF, Ghana today, is in high debt distress; yet the Finance Minister, using tricks of creative accounting as well as massaging of financial figures, is creating the impression that the economy is picking up. Indeed the economy is collapsing in Intensive Care Unit, growing at negative 0.9 % while Kenya, Senegal and Ivory Coast are growing between 2% - 3.5% in spite of Covid 19.

Depleted Resources

Nana Addo has depleted all the reserves and mortgaged assets left by former President Mahama. Monies from the Heritage Fund, Oil Fund, and Stabilization Fund and extra resources made available by Parliament, monies from the three new Oil Wells, the $100 million, $1 billion and subsequent billions of dollars from IMF through WHO has been wasted in the drains of corruption.

Corruption Cases

Closure of Banks led to the loss of Ghc22 million and loss of jobs. PDS given to relatives and friends of Nana Addo led to the loss of $1.8 billion and the withdrawal of $190 million by USA government. Agyapa deal, meant to mortgage our 10% Mineral Royalties for 15 years has led to loss of millions of dollars. The AMERI deal, Kelvin DVD, BOST and other corrupt cases, according to our research, add up to 142 corruption cases, which cost Ghana Ghc120 billion, under Akufo Addo`s presidency.

Data Bank

Data Bank, the clan and family Bank founded in 1983 was worth Ghc800 million in 2016; that is after 33years of active service. From 2017 -2020 that is in four years of Akufo Addo, Data Bank is worth 5 billion ghc; a clear indication that Nana Addo`s aim, aspiration and interest, is NOT to develop Ghana; but to become the first dollar billionaire in Ghana. AKUFO ADDO MUST GO.