FLASHBACK: You can't borrow to build flyovers when citizens are still jobless - Dr. Kofi Amoah

On August 10, 2022, Ghanaian business magnate, Dr Kofi Amoah, criticised government for borrowing huge sums of monies to construct flyovers when the money, he said, could have been used to create jobs for the teeming unemployed youth.

He explained that "when you do that, your currency will be strong, your people will become taxpayers, the government will have the tax revenue to service infrastructural investments."

Read the full story originally published on August 10, 2022 by www.ghanaweb.com.

Business mogul, Dr. Kofi Amoah, wants the Nana Addo Dankwa Akufo-Addo-led government to provide jobs for unemployed citizens rather than borrowing money to build flyovers.

According to the Economist and CEO of Progeny Ventures, even though flyovers will ease traffic on our roads, they do not produce any return.

He said the government must use the needed resources at its disposal to do the things that all countries have done or are doing to be successful and strong.

He stressed that there are fundamental things that can be done to turn the economy around rather than implementing unsustainable flagship programmes like the free education policy.

Dr. Amoah noted that one of the things is to get jobs for unemployed citizens so that they can produce for the domestic economy and exports, "when you do that, your currency will be strong, your people will become taxpayers, the government will have the tax revenue to service infrastructural investments"

Speaking with an Accra-based TV3, Dr. Amoah explained, “You can’t have a nation that is characterized by joblessness. Borrowing to do a flyover. A flyover does not produce any return, you must say it eases traffic, but we need to do the things that all countries have done to be successful and strong, get your people working and engaged, producing for domestic economy and exports when you do that your currency will be strong, your people will become taxpayers, the government will have the tax revenue to service infrastructural investments.

“Do the first things first, build strength, move to the next ladder. Every phase of your development must be strong and productive enough to provide the wealth and the resources needed to do the next phase. If we were to produce a lot of products, livestock, build strength for local consumption and the rest for exports, then we can move to the next phase of industrialization by building factories to process the raw materials.”

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