Ghana Economy is falling down and lesson for Nigeria from 2014

Read Article

Comments (61)

This article is closed for comments.

Read Comments Comments (61)

The mask 11 years ago

The economy is hitting workers hard.

Boachsoft Finance 2012 software, developed in East Akim Municipality (Akyem-Maase and Bunso) in the Eastern Region of Ghana and in Accra/Sakumono, is helping many families across the gl ...
read full comment

The economy is hitting workers hard.

Boachsoft Finance 2012 software, developed in East Akim Municipality (Akyem-Maase and Bunso) in the Eastern Region of Ghana and in Accra/Sakumono, is helping many families across the globe to balance the family budget, amortize loans and save for the future.

The next version is set to be released in December 2015. Use only the 2012 version.

For more information on managing family finances read the following article:

blog(dot)boachsoft(dot)com
Conventional Youth 11 years ago

Positive mindset but we must not ignore facts of exploitative aspects of Globalization Neo-colonization'

We must also not under-estimate the issues of shocks, contagion & distractions'

Overconfidence is an outstand ...
read full comment

Positive mindset but we must not ignore facts of exploitative aspects of Globalization Neo-colonization'

We must also not under-estimate the issues of shocks, contagion & distractions'

Overconfidence is an outstanding quality & attitude, however, forces of irresponsible capitalism make global peace & prosperity a needless challenge.
Lady 11 years ago

Africa is a hopeless & failed continent with the exception of Botswana & maybe Mauritius & South Africa. All our problems can be attributed to BAD GOVERNANCE & CORRUPTION.

Africa is a hopeless & failed continent with the exception of Botswana & maybe Mauritius & South Africa. All our problems can be attributed to BAD GOVERNANCE & CORRUPTION.
Rocket 11 years ago

Botswana is hell on earth. The Prevalence of HIV/AIDS in some parts is as high as 40 percent!!What a hellhole!!

Mauritius is an Island with less people than Tamale! It is a hopeless small country which is a tax haven for r ...
read full comment

Botswana is hell on earth. The Prevalence of HIV/AIDS in some parts is as high as 40 percent!!What a hellhole!!

Mauritius is an Island with less people than Tamale! It is a hopeless small country which is a tax haven for rich Europeans!!
Rocket 11 years ago

South Africa is a joke!!! There are a few people enjoying but the majority are living in crippling poverty..

South Africa is a joke!!! There are a few people enjoying but the majority are living in crippling poverty..
John 11 years ago

Those who believed Ghana was doing well bought the IMF/WB and their academic agents propaganda. A country whose resources are owned and taken for almost free by foreigners cannot be said to be doing well ecept the rhose takin ...
read full comment

Those who believed Ghana was doing well bought the IMF/WB and their academic agents propaganda. A country whose resources are owned and taken for almost free by foreigners cannot be said to be doing well ecept the rhose taking the resoruces. Ghana has had unemployment rate of more than 40 percent for the last 20 years. Most of the people 'working' do nothing. They play lotto, eat kenkey and shito and sleep.
concernier 11 years ago

YOU SEE HOW ANY BAD NEWS ABOUT GHANA IS A SWEET MUSIC TO NIGERIANS EARS. BOKO HARAM INFESTED MINDSETS

YOU SEE HOW ANY BAD NEWS ABOUT GHANA IS A SWEET MUSIC TO NIGERIANS EARS. BOKO HARAM INFESTED MINDSETS
naija man 11 years ago

this is the Nigerian spirit. we weren't born cowards unlike some Ghanaians. don't worry Michael nnebe , we are blessed with brains like you and that's why we will keep getting stronger and stronger.

our energy are divert ...
read full comment

this is the Nigerian spirit. we weren't born cowards unlike some Ghanaians. don't worry Michael nnebe , we are blessed with brains like you and that's why we will keep getting stronger and stronger.

our energy are diverted to the common good of our dear country and not enviness and jealousy.

our industries and banks are all over Africa, Europe and north American so Ghana is irrelevant if they don't want us.

we are blessed with so many people with business brain. we just don't talk and talk but we act when we talk.
ADANKO 11 years ago

Nigerian president is not so foolish as mahama who uses state money to buy cars for local chiefs. If you have $20.00 in pocket and u buy $5.00 drinks for 8 friends, how much is left? Stupid mahama, answer it.

Nigerian president is not so foolish as mahama who uses state money to buy cars for local chiefs. If you have $20.00 in pocket and u buy $5.00 drinks for 8 friends, how much is left? Stupid mahama, answer it.
KOO 11 years ago

IF WE THE PEOPLE OF GHANA TRY HARD TO FIND ANY MEANS POSSIBLE TO SEND THESE NIGERIANS BACK TO THER SO CALL NIGERIA; GHANA WILL MAKE IT AGAIN. THANKS TO MY FORMER BOSS DR.BUSIA WHO SENT THESE NIGERIANS BACK TO THE SO CALL DI ...
read full comment

IF WE THE PEOPLE OF GHANA TRY HARD TO FIND ANY MEANS POSSIBLE TO SEND THESE NIGERIANS BACK TO THER SO CALL NIGERIA; GHANA WILL MAKE IT AGAIN. THANKS TO MY FORMER BOSS DR.BUSIA WHO SENT THESE NIGERIANS BACK TO THE SO CALL DIRTY NIGERIA. NIGERIANS THINK TWICE HISTORY WILL REPEAT IT SELF.DON'T BE TOO COMFORTABLE IN GHANA. I PROMISE YOU WILL DO ANYTHING TO SEND YOU BACK TO NIGERIA BY DECEMBER 2014.

Ka Ne Wu 11 years ago

Your dark mind and illeterate self-fulfilling soul is what setting Ghana backward. Ghanaians, Nigerians, Liberians, etc... are all Africans and people migrate to other nations to tap into unforeseen opportunities.

This is ...
read full comment

Your dark mind and illeterate self-fulfilling soul is what setting Ghana backward. Ghanaians, Nigerians, Liberians, etc... are all Africans and people migrate to other nations to tap into unforeseen opportunities.

This is what drives nations to be successful.
Research Man 11 years ago

My brother, just do an internet search of the author, and this might convince you that Ghana must be cautious, though not prohibitive as you rightly advise.
"The court also found that: (1) Nnebe "knew that the written and or ...
read full comment

My brother, just do an internet search of the author, and this might convince you that Ghana must be cautious, though not prohibitive as you rightly advise.
"The court also found that: (1) Nnebe "knew that the written and oral statements attributable to [him] were materially false, or [he] acted in reckless disregard of the truth"; (2) Nnebe violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; and (3) there was a substantial likelihood that Nnebe would violate the securities laws in the future. (Injunctive Action at 5-7, 10.) Based on these factual findings, the court (a) permanently enjoined Nnebe from future violations of these sections of the securities laws and rules, and from participating in any penny stock offering; (b) ordered Nnebe to pay a total of $2,407,996, consisting of $1,906,240.35 in disgorgement and $501,755.65 in prejudgment interest; and (c) ordered Nnebe to pay a civil penalty of $220,000. (Injunctive Action at 10, 13, 16, 18, 19.)"
Tolulope 11 years ago

I'm disappointed to read the comments of many Nigerians to this article and Ghana too and I believe if such malice and envy continues, we will keep on living in this mediocrity... I'm surprised that most people don't grasp th ...
read full comment

I'm disappointed to read the comments of many Nigerians to this article and Ghana too and I believe if such malice and envy continues, we will keep on living in this mediocrity... I'm surprised that most people don't grasp the real issue and I wonder why we have brains at all... IMF is the problem... That's an organization that has been set up to keep Africans in mediocrity while the European nations keep enriching themselves from our resources (Talk about Modern colonization)... Ghana was setting an example that if they've remained successful, other countries would have followed suit and which would have been disastrous for the Imperialist plans EU nations and the USA are using us for... Dollarising the cedi was risky but I'm sure Ghana would have coped if IMF didn't plan to wreck them... Now they will have to bail out Ghana and believe me you, no country wants an IMF bail out... They always take something big... Africans need to unite and free themselves but that won't happen with our corrupt leaders and the truth is those EU nations and America plus IMF are contented at us having bad leaders since it suits their purposes so we need to free ourselves from bad leadership first
okofo 11 years ago

"The economy of Lagos and Akwa Ibom combined is greater than that of Ghana", but is that "greatness" reflecting on a better QUALITY of life of the over-streached population of Lagos and Akwa Ibom?

I always hear many Nigeri ...
read full comment

"The economy of Lagos and Akwa Ibom combined is greater than that of Ghana", but is that "greatness" reflecting on a better QUALITY of life of the over-streached population of Lagos and Akwa Ibom?

I always hear many Nigerians twisting their arguments towards "bigger landmass" "bigger budget" in comparison with "smaller" Ghana, but even economics 101 will tell you that "smaller" population density enjoys BETTER infrustracture and quality of life than relatively bigger one. Stop this nonsense, because bigger does not necessarily mean better.

The reason why Kwame Nkrumah's smaller Ghana was able to secure a quicker decolonization against Maucaulay and Namdi Azikiwe's Nigeria was that, Ghana is smaller and more manageable compared to the so called "Giant of Africa". This writer has a twisted idea that, Nigeria is, and should be better than Ghana in ALL spheres, just for the sheer bigger landmass and population of Nigeria. This is an infantile belief.
Who cares?? 11 years ago

Anyone who has been around these Ofe Manu/Aboki idiots knows how they think!! They are criminals!

Anyone who has been around these Ofe Manu/Aboki idiots knows how they think!! They are criminals!
frafra ha 11 years ago

And you are right, we dont need you. What good is a nigerian? Ghana will arise, no doubt, ghana is resilient. We have overcome many challenges, and you nugerians know that well. But ask an ibo, and he will tell you, there not ...
read full comment

And you are right, we dont need you. What good is a nigerian? Ghana will arise, no doubt, ghana is resilient. We have overcome many challenges, and you nugerians know that well. But ask an ibo, and he will tell you, there nothinglike nigeria. There is what we call, Biafraland, Yoruba, and your oppressors, the Hawusas.
Who cares?? 11 years ago

This dog is happy Ghana's economy is going down!! What a donkey!! Saying the Economy of Lagos and Aboki(or whatever) is bigger than Ghana shows he does not know much about Economics... If that is the case the economy of Calif ...
read full comment

This dog is happy Ghana's economy is going down!! What a donkey!! Saying the Economy of Lagos and Aboki(or whatever) is bigger than Ghana shows he does not know much about Economics... If that is the case the economy of Califorinia is bigger than that of Nigeria!! The Economy of Sao Pauolo Brazil is bigger than Nigeria's! See how stupid these Ofe Manu/ OKoro Pigs are??
Rocket 11 years ago

Rather than deal with the capture of northern Nigeria by Boko Haram and proven cases of Ebola in your south you are praying for Ghana's downfall... The Black Man is indeed cursed kai!!!

Rather than deal with the capture of northern Nigeria by Boko Haram and proven cases of Ebola in your south you are praying for Ghana's downfall... The Black Man is indeed cursed kai!!!
Tweeaa 11 years ago

How's he praying for our downfall? Why can't some of you accept the truth that ghana is now a banana republic & ungovernable?

How's he praying for our downfall? Why can't some of you accept the truth that ghana is now a banana republic & ungovernable?
Rocket 11 years ago

Ghana is better than Nigeria. Ghana has peace. Peace is worth 10000 Trillion dollars... Nigeria even if it goes trough a 1000 year Boom will never be better than Ghana. Why? Because they have no peace. Ghana may be going down ...
read full comment

Ghana is better than Nigeria. Ghana has peace. Peace is worth 10000 Trillion dollars... Nigeria even if it goes trough a 1000 year Boom will never be better than Ghana. Why? Because they have no peace. Ghana may be going down but we are still growing at a higher rate than South Africa!

Kay 11 years ago

And don't forget Syria was once a peaceful country.

And don't forget Syria was once a peaceful country.
Dave 11 years ago

in 2010 when i first visited, it was $1-GHc1.43 but today its $1-GHc3.6.Already people have started demonstration including the middle class.And to add salt to injury Ghana govt has gone to seek IMF bailout.For your informati ...
read full comment

in 2010 when i first visited, it was $1-GHc1.43 but today its $1-GHc3.6.Already people have started demonstration including the middle class.And to add salt to injury Ghana govt has gone to seek IMF bailout.For your information IMF policies have never helped any developing nations. its a tool to destroy countries especially the developing nations.Structural Adjustment programmes introduced by IMF in the 80s to African countries completely destroyed their economies till date. Ghana is sitting on a TIME BOMB. What peace?
who cares? 11 years ago

peace sweet peace!! Make sure Al Qaeda/Boko Haram or is it Akoki Haram... don't kill you!! Make sure Mend does not capture you and slit your throat!!

peace sweet peace!! Make sure Al Qaeda/Boko Haram or is it Akoki Haram... don't kill you!! Make sure Mend does not capture you and slit your throat!!
dot 11 years ago

Ghanians really hate nigerians or shld i call it envy cos u wish u were us and u copy us in everything we do. U can't say a word without mentioning Niger but in Nigeria we don't think abt u.

Ghanians really hate nigerians or shld i call it envy cos u wish u were us and u copy us in everything we do. U can't say a word without mentioning Niger but in Nigeria we don't think abt u.
Ka Ne Wu 11 years ago

Surely the truth hurts. You guys have dark minds with backward illiterate mentalities.

Which is better, having peace in starving nation with flood of criminals (thieves)like Ghana or having abundant of food in a nation li ...
read full comment

Surely the truth hurts. You guys have dark minds with backward illiterate mentalities.

Which is better, having peace in starving nation with flood of criminals (thieves)like Ghana or having abundant of food in a nation like Nigeria with thugs? I will choose Nigeria.

Ghana is heading down fast due to bad leadership similar to Nigeria leaders.
The dark continent will be dark forever
Wikileaks. 11 years ago

Peace does not pay school fees in Ghana Peace does not provide Roof over our heads...Peace does not put food on the Table...I don't want NO peace. I Need Good Governance ,Accountability and Free Education..!

Peace does not pay school fees in Ghana Peace does not provide Roof over our heads...Peace does not put food on the Table...I don't want NO peace. I Need Good Governance ,Accountability and Free Education..!
Ken 11 years ago

No sane person, will look good counsel in the backside. Be sensible!

No sane person, will look good counsel in the backside. Be sensible!
rita. 11 years ago

I work with so many nigeria people in London they can wait for ghana to go down l don't blame them l blamed joynews and abn TV, l have ever see Africa news so negative about they country expect this channels, You watch it, th ...
read full comment

I work with so many nigeria people in London they can wait for ghana to go down l don't blame them l blamed joynews and abn TV, l have ever see Africa news so negative about they country expect this channels, You watch it, they only played ghana music when is negative, they only show ghana programme when is negative that is how nigeria are saying all negative story about ghana and this news go all over the world, l don't blame governments only for economic problems and down grading our economic media negative story ghana
This ghana own media so many complained channel

very sad,
MAXELL OGELEKA 11 years ago

My name is Maxwell and am a Nigerian.no matter what we think Nigeria and Ghana are brother's and we must learn to love each other.when we love and telorate each other there will be love between the two countries and there wil ...
read full comment

My name is Maxwell and am a Nigerian.no matter what we think Nigeria and Ghana are brother's and we must learn to love each other.when we love and telorate each other there will be love between the two countries and there will be strong ties between the two countries and there will be massive growth and development in these two countries.
Senior Wisdom 11 years ago

Ghana major problem is the appointment of highly inexperienced individuals who have only recently graduated from college. The US and Canada will only appointment seasoned academics, economists, and scientists to run the coun ...
read full comment

Ghana major problem is the appointment of highly inexperienced individuals who have only recently graduated from college. The US and Canada will only appointment seasoned academics, economists, and scientists to run the country. In Ghana nowadays what one has to do is to shout the most in University politics and you are appointed a deputy Minister and in some cases Minister or Presidential advisor. Such individuals only experiment with a country of 24 million. They attend conferences, negotiate contracts and make vital decision for the state. Their masters who are not so smart take their words for gospel and announce policies that drag the country into the gutters, such as the recent measures to 'rescue' the cedi. These guys have no clue what they are doing and we allow them to run down the country. worst of all they reward themselves with undeserved bonuses and give contracts to their families. I know a lot of them from Legon campus as students who have now become millions by being in politics. They drive cars and live in homes that politicians from Britain will envy, and then they run to IMF for bailouts. The west just amuse themselves and laugh at our folly. SAD indded.

NTIKUMA ANANSE 11 years ago

WHO NEEDS NIGERIAN INVESTORS?????? WHEN NIGERIA INVESTORS COME THEY TAKE AWAY MORE THAN THEY INVESTORS AND INTRODUCE MORE NEFARIOUS ACVTIVITIES TO GHANAIANS, TO DAMAGE GHANA.

WHO NEEDS NIGERIAN INVESTORS?????? WHEN NIGERIA INVESTORS COME THEY TAKE AWAY MORE THAN THEY INVESTORS AND INTRODUCE MORE NEFARIOUS ACVTIVITIES TO GHANAIANS, TO DAMAGE GHANA.
WILLSON 11 years ago

MILLIONS OF GHANAIAN ARE DOING WELL IN NIGERIAN. I DO WORK WITH SO MANY GHANAIAN AT CHEVRON OIL COMPANY AND WE ACT LIKE BROTHERS. WHY ALL THIS BAD COMMENT ON NIGERIA ??? SOME GHANAIAN ARE CRIMINAL AS WELL AS NIGERIA

MILLIONS OF GHANAIAN ARE DOING WELL IN NIGERIAN. I DO WORK WITH SO MANY GHANAIAN AT CHEVRON OIL COMPANY AND WE ACT LIKE BROTHERS. WHY ALL THIS BAD COMMENT ON NIGERIA ??? SOME GHANAIAN ARE CRIMINAL AS WELL AS NIGERIA
AJAY SINGH 11 years ago

Excellent Report and based one micro study of international finanace

Excellent Report and based one micro study of international finanace
GB 11 years ago

NDC criminals will brand you as NPP man. They want everybody to lie about the economy

NDC criminals will brand you as NPP man. They want everybody to lie about the economy
Dr P.Tetteh 11 years ago

You a liar or intellectually dishonest. Ghana did not revalue her currency, but rather redenominated the Cedi.

You a liar or intellectually dishonest. Ghana did not revalue her currency, but rather redenominated the Cedi.
kraninana 11 years ago

A very informative article, and indeed, a lesson for other countries

A very informative article, and indeed, a lesson for other countries
Opia 11 years ago

Congrats on the article, but a few statements are not wholly true. Ghana has not had uninterrupted power supply for 10 years. During the NPP era, power supply was erratic and this has continued under the NDC government. Ghana ...
read full comment

Congrats on the article, but a few statements are not wholly true. Ghana has not had uninterrupted power supply for 10 years. During the NPP era, power supply was erratic and this has continued under the NDC government. Ghana was a so called star of economic growth in Africa not in real terms but only on paper. We in Ghana are very find of boasting on appear when we cannot even manage sanitation which has bown up into cholera.
Dede London 11 years ago

The whole problem was started by Mahama!!!
If Victoria Hammah could say that she won't leave politics if she's not made a million dollar then that should inform the whole world that the leaders are making billions of dollar ...
read full comment

The whole problem was started by Mahama!!!
If Victoria Hammah could say that she won't leave politics if she's not made a million dollar then that should inform the whole world that the leaders are making billions of dollars!!! Soon after President Mills died, Ghana has witnessed untold nosedive in her economy why? Betty Mould Iddrissu, Woyome even recently Nana Konadu was awarded and she shamelessly received 4 million plus as judgement debt, why. I thought education was meant to equip citizens to be smart in order to advance the development and progress of a nation. But in Ghanas case education has been used by the so called elites of society to miserably rape and rob Ghanas wealth by the stroke of the pen. Now who is Ghana now running to for a bailout? The IMF? This is equal to telling the same white man to come back and rule us because after all the blackman huu haa they can't manage it's affairs after all
dot 11 years ago

The bad economy is not really affecting them becos they are used to poverty. If they eat kenkey and fish and Sunday omo tuo, life is good unlike nigerians who enjoy spending money. So i don't pity them

The bad economy is not really affecting them becos they are used to poverty. If they eat kenkey and fish and Sunday omo tuo, life is good unlike nigerians who enjoy spending money. So i don't pity them
Naija boy 11 years ago

Really i don't know why ghanaians just be hating for no reason... Nigeria's economy is %75 of west africa's economy and you all still saying poo?? A liberian man brought ebola to Nigeria, saudi arabia same can still happen to ...
read full comment

Really i don't know why ghanaians just be hating for no reason... Nigeria's economy is %75 of west africa's economy and you all still saying poo?? A liberian man brought ebola to Nigeria, saudi arabia same can still happen to ghana, cholera already killed 213 in accra (capital city for that matter) to show how dirty accra is have u evey heard any case of cholera in abuja and our main cities?? We Nigerians don't hide the truth if we see something good in Ghana we say it with joy but ghanaians will never see/say anytin good about Nigeria (even though there are many good things) when investors from little countries like bangladesh visits ghana they respect, worship them but wen Nigeria investors want to work in ghana they say heavy tax, give them problems and the Nigeria economy is bigger the bangladesh's but because its Nigeria you just automatically hate... Lol
who cares? 11 years ago

Credible Nigerians like Aliko Dangote are welcome... NOT CRIMINALS like the average Yoruba/Igbo/Edo/Ijaw thief who is himself on a 419 budget...

Credible Nigerians like Aliko Dangote are welcome... NOT CRIMINALS like the average Yoruba/Igbo/Edo/Ijaw thief who is himself on a 419 budget...
Naija boy 11 years ago

Silverbird is owned by a Nigerian, Fan milk, glo, TSL(operating BOOST), many banks

Silverbird is owned by a Nigerian, Fan milk, glo, TSL(operating BOOST), many banks
who cares? 11 years ago

Do you think the Average Ghanaian is opposed to Nigerian billionaires investing?? These are the crème de la crème of Nigerian society! Everyone country will welcome these kinds...What we don't want are criminals on a small ...
read full comment

Do you think the Average Ghanaian is opposed to Nigerian billionaires investing?? These are the crème de la crème of Nigerian society! Everyone country will welcome these kinds...What we don't want are criminals on a small budget trying to suck the little that is there for poor Ghanaians... NObody will oppose a billionaire investing in Ghana... Not even the USA would turn down these billionaires...
kwasipong 11 years ago

My brother there is truth in your comment here. Ghanaians in general hate to be told the truth. Please "peeps", do not descend on me with tons of bricks, just saying the obvious truth - I'm a Ghanaian

My brother there is truth in your comment here. Ghanaians in general hate to be told the truth. Please "peeps", do not descend on me with tons of bricks, just saying the obvious truth - I'm a Ghanaian
Sarah 11 years ago

Ghana's economy is healthy and vibrant. There is a 7% growth in very recent forecast. With influx of refugees from other countries, what do you expect. Those of us who have eyes see where Ghana is going.

Ghana's economy is healthy and vibrant. There is a 7% growth in very recent forecast. With influx of refugees from other countries, what do you expect. Those of us who have eyes see where Ghana is going.
Abra 11 years ago

Truly? 7% is fine and even great, but is it 7% of 1 or 7% of 100!which will you pick, all things being equal. Sarah, you may have eyes but at the rate we are going in now, its straight down to fallingdown. Dont blame it on re ...
read full comment

Truly? 7% is fine and even great, but is it 7% of 1 or 7% of 100!which will you pick, all things being equal. Sarah, you may have eyes but at the rate we are going in now, its straight down to fallingdown. Dont blame it on refugees, its homegrown dirt!
Abam 11 years ago

Dear Mr Nnebe, there's a Ghanaian saying that goes like this:"When you see your neighbor's beard on fire, better make sure there's a bucket of water next to you". So your article warning Nigeria to also be wary is apt. Howeve ...
read full comment

Dear Mr Nnebe, there's a Ghanaian saying that goes like this:"When you see your neighbor's beard on fire, better make sure there's a bucket of water next to you". So your article warning Nigeria to also be wary is apt. However, the reduction in cocoa and gold prices on the world market have less to do with Ghana's current predicament than you seek to portray. You should check the level of government's expenditures in the lead up to the 2012 elections, govt-sanctioned so-called judgement debts, salaries and benefits of government officials and appointees, the ubuquitous nepotism contracts (if you can find information on it), interest on govt borrowings over the last 3-4 years, and the level of infiltration into trade and artisinal mining activities by foreign elements and the consequent spiriting out of hard currency with the connivance of public institutions. If and when you have had the time to do this, come back and tell us about redenomination. Our governments have not exhibited a modicum of discipline, otherwise, the pass through of the redenomination exercise, should not be continuing to affect the economy, 7 years after the fact. It will also be good to cite those barriers Ghana particularly erected to dissuade our Nigerian countrymen from investing here, as for your information, there was none. The last time I checked the huge amount of real estate owned by Nigerians in Ghana is nothing to sneeze about, to wit, Nigerian-owned banks are well represented in the Ghanaian commercial banks scene (Energy Bank,Zenith Bank,Guaranty Trust, Access, etc), taxi companies that employ ghanaian drivers on hire purchase schemes,retail trading, petroleum transportation, etc. Oga Nnebe, it seems to me that you are not current, better revise your notesoooo, otherwise, your views may be ignored forthwith. You are right a stitch in time, saves...
Benji 11 years ago

Most Economist these days adopt 'try your luck' system. What we call economic gambling. When it works, leaders are hailed as smart, but when it fails, all wahala break loose! The secret about African economies or for that mat ...
read full comment

Most Economist these days adopt 'try your luck' system. What we call economic gambling. When it works, leaders are hailed as smart, but when it fails, all wahala break loose! The secret about African economies or for that matter Ghanaian economy is not allowing everyone into it as we are surrounded with very poor nations who would otherwise create chaos in a fledgling economy, but set our institution right! If our structures are right, we will have the breaks and investors wouldn't be scared to invest. Lastly but not the least, we have a group of men and women who DO NOT understand what they are doing. PERIOD!
impromptus 11 years ago

Rogue leader leading a country to shitpan

Rogue leader leading a country to shitpan
Joe 11 years ago

Very interesting article. Thanks Bros

Very interesting article. Thanks Bros
JOROMI 11 years ago

A combined Bible, Koran and Mantra for nation leadership.
But would it be read and much so be practiced?

A combined Bible, Koran and Mantra for nation leadership.
But would it be read and much so be practiced?
Abeeku Mensah 11 years ago

Mr. Nnebe this is a mockery of economics any which way you slice it. It was the Wall Street gamesmanship that brought us the late 2007 global financial disasters that we continue to face.
It is Wall Street folks who have us ...
read full comment

Mr. Nnebe this is a mockery of economics any which way you slice it. It was the Wall Street gamesmanship that brought us the late 2007 global financial disasters that we continue to face.
It is Wall Street folks who have used lies to harm economies of nations that stand firm against avalanche of global institutional ideologies. Ghana is suffering economically because of Wall Street folks picking winner and losers on the African continent based on expectations from ruling governments in African nations and the belief that those governments are likely to be puppets for the so-called free market driven system. What is free about a global market system that allows for economic giant nations to set what price they will pay for cocoa, bauxite, timber, oil and other raw materials etc but have the power to dictate what price they want for the goods they export to other poor nations?

At the time Ghana was going through its useless vote recount and challenges at Ghana’s Supreme Court did some in the NPP not use their connections to NPP New York branch of hoodlums to not try to fabricate negative economic stories on Ghana via some folks at Wall Street institutions to influence our election court outcome? Folks on Wall Street have used various economic tools including insider trading to inflate prices of stocks where it is not warranted for selfish profits even as they get hard working men and women to give up their hard earned income on silly trades. If the folks on Wall Street believe in what they sell why not wait for maturation date before collecting their unearned bonus of those worthless derivatives and other worthless papers they design and sell?

It is not Ghana that set a value for its currency relative to global currencies but the all too power global economic giants and they do so when they perceive conditions in any country to be conducive to what it is they hope to derive out of nations. The Nigerian economy may suffer because of the Boko Haram ongoing perception of a protracted war on terror in Nigeria. For I guarantee that even if productivity goes up on all economic activities in Nigeria, there are those who would use the Boko Haram issue to undermine the value of the Nigerian Niara and economy.
Research Man 11 years ago

Just Google his name and you'll know why Ghana was wary about Nigerian "investors" like him

Just Google his name and you'll know why Ghana was wary about Nigerian "investors" like him
dot 11 years ago

Ghanians envy nigerians they struggle to marry rich nigerians. There was peace in nigeria before boko haram came and we shall overcome it. Even in ghana u have tribal hatred for each other. Our economy is now d best in Africa ...
read full comment

Ghanians envy nigerians they struggle to marry rich nigerians. There was peace in nigeria before boko haram came and we shall overcome it. Even in ghana u have tribal hatred for each other. Our economy is now d best in Africa. We come here to school cos of the strike by our greed lecturers not cos of the standard so after school we leave ghana. Right now university teachers in ghana are on strike. Irony of life.
who cares? 11 years ago

We are all happy you rebased your economy above South Africa which is a country that lacks an African spirit... I would much rather have Nigeria on top of Africa than South Africa or one of the Arabian countries all of whom a ...
read full comment

We are all happy you rebased your economy above South Africa which is a country that lacks an African spirit... I would much rather have Nigeria on top of Africa than South Africa or one of the Arabian countries all of whom are not very proud to be African... But having a big economy does not make you better than the good old Ghana!! Ghana will always be on top!!
Naija boy 11 years ago

Lol how's ghana no top Ghana rebased their GDP too in 2006 still yet it was still very smal, Nigeria is no 1 for FDI in africa we are more than u in GDP/capital and GDP(PPP) so how's ghana no top? Lol

Lol how's ghana no top Ghana rebased their GDP too in 2006 still yet it was still very smal, Nigeria is no 1 for FDI in africa we are more than u in GDP/capital and GDP(PPP) so how's ghana no top? Lol
prince bagnaba 11 years ago

Fantastic and straight to the point. Nigeria is in the position to bail out Ghana taking into cognisance of its investment in Ghana.

Fantastic and straight to the point. Nigeria is in the position to bail out Ghana taking into cognisance of its investment in Ghana.
Research Man 11 years ago

Mr N is one Nigerian "investor" Ghana must be wary about welcoming into it's economic sector. The reason is in plain sight on Google, if you never heard about his conviction and imprisonment for fraudulent stock dealings

Mr N is one Nigerian "investor" Ghana must be wary about welcoming into it's economic sector. The reason is in plain sight on Google, if you never heard about his conviction and imprisonment for fraudulent stock dealings
stanley 11 years ago

nice write up, for more Nigeria news please click here https://m.facebook.com/NIGERIAnewslive?v=info

nice write up, for more Nigeria news please click here https://m.facebook.com/NIGERIAnewslive?v=info
Peaceful foreigner 11 years ago

Welcome to the global economy. Booms and busts are part of life. The West is in a global recession even depression.
Sad that you seem to celebrating the fall of Ghana. I have every hope that Ghana will recover.

Welcome to the global economy. Booms and busts are part of life. The West is in a global recession even depression.
Sad that you seem to celebrating the fall of Ghana. I have every hope that Ghana will recover.

61 Comments

Welcome,

SIGN IN

Welcome,

RESET PASSWORD

Hello,

Terms and conditions

REGISTER

Ghana Economy is falling down and lesson for Nigeria from 2014

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (61)

Read Comments Comments (61)