Save Ghana's economy from collapsing - Afaglo charges Ghanaians

The Chief Executive Officer of Merrer Ghana Limited, Susstgad Boat Building and Fishing Industry, Novihoho Afaglo, has warned that Ghana is currently moving in reverse and if the situation is not addressed immediately, the country will collapse and the economy will crumble.

He explained that the high cost of living, along with high taxes and poor management of the economy by the New Patriotic Party (NPP) government, has led to a loss of confidence among the youth. This, he says has resulted in a mass exodus of the best minds to Europe and other continents.

He stressed that many Ghanaians, including those in the health sector and skilled trades such as plumbers and electricians, are flocking daily to various embassies in search of opportunities to leave Ghana.

The businessman emphasized that the situation is so dire that every Ghanaian wants to leave to improve their circumstances because they fear that staying in the country could lead to premature death.

He noted that a closer look at the business sector reveals that the country is at risk of losing multi-million-dollar companies to neighboring countries due to high taxes and labor costs.

In an interview with GhanaWeb, Novihoho Afaglo stated that the business environment is hostile, with high taxes, high borrowing costs, and manipulation from organizations like the Ghana Revenue Authority undermining investor confidence.

"When did Ghana reach a point where the average citizen cannot even afford three square meals a day, let alone save money? Some employers claim to have raised workers' salaries three times in a row, yet many still need to take out loans just to get by," he questioned.

He further lamented that businesses are suffering more under the leadership of Nana Addo Dankwa Akufo-Addo and Dr. Mahamudu Bawumia than under all previous governments combined.

He added that production costs in the country have tripled, port duties have quadrupled, and excessive taxes have led to the closure of companies and a rise in unemployment.

Regarding inflation, the CEO pointed out that the dollar has surpassed the cedi to the point where the local currency has become almost worthless.

"This has contributed to the high cost of goods and services, with a simple ball of kenkey now selling for between GH¢5 and GH¢10," he mentioned.

Afaglo stated that Ghana, once a hub of attraction in Africa, has now become one of the most challenging countries to live in. This, he says has led foreigners to choose neighboring countries over Ghana for investment.

He warned that if things continue as they are, even basic items like 'kenkey and gobe' could be priced in dollars as the economy becomes increasingly dollarized, with rent and other goods also quoted in dollars.

He urged every Ghanaian to use the 2024 election as an opportunity to vote for former President John Dramani Mahama to rescue Ghana from the current NPP government, which he believes is only focused on enriching their own families and associates.

AE/MA