Business News of Mon, 3 Aug 201512

Support local industry to end economic woes - Samia Nkrumah

The Chairperson of the Convention People’s Party (CPP), Samia Yaba Nkrumah, has said industrialization is the only way to properly address the current economic woes, the cedi’s instability, and unemployment.

“Ghana must industrialize. We must help out local entrepreneurs to go into manufacturing. We the CPP are committed to reviving all those factories that were abandoned or sold or closed down. This is how we will be able to create jobs. That is the only way out of economic crisis and poverty and the only way to stabilise the cedi properly. The only way to stabilize the cedi is for us not to import everything because everything we import, we pay with foreign currency,” Samia Nkrumah stated.

She also said conditions set by these organisations like the International Monetary Fund (IMF) and the World Bank would not benefit Ghanaians.

“The main problem is how you manage your economy. You must have your own African/Ghanaian development plan. Dr. Kwame Nkrumah left us an excellent development so why are you listening to the IMF and the World Bank. They tell you to go left, you go left and the people become more impoverished,” she added.

“The economic path we have been pursuing for decades has not helped us. We call it the new liberal agenda. It’s the IMF and World Bank who tell us to open up our markets to foreign goods which don't even make sense.”

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She made these comments as delegates of the CPP in the Upper East region voted to elect new executives to run the party.

Twelve aspirants contested for the positions of regional chairman and vice chairmen, Organizer, Secretary, and Treasurer.

The women organizer, Youth Organizer and the Education Secretary positions were all unopposed.

Samia Nkrumah appealed to all the aspirants and delegates to see the exercise as a process for preparing the party for victory in 2016.

Source: citifmonline

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