Democracy, according to netword is” a political system in which the supreme power lies in a body of citizens who can elect people to represent them” NMPED also defines democracy as “The practice of the principle of equality of rights, opportunity, and treatment” If we should go by the two definitions elucidated above, then our fledgling democracy is maturing in line with all standards. This very right of the individuals which is exercised in many forms including selecting the Presidents of democratic nations should be seen as an asset which is enshrined in the constitution and hence should be respected by the citizens themselves at all times. Upon this background, it behooves on each and every prospective/potential NPP delegate to cautiously, diligently and credibly exercise their right to elect the NPP Presidential Candidate. A wrong selection based on myopic self interest and a mere political expediency without regard to the needs of the future generation, could lead to a distasteful situation for the party, the whole country and the generation to come. Let’s all concertedly indulge in deciphering the qualities and standards that the ultimate choice of the NPP should represent in their quest to beat Atta Mills in the presidential election and subsequently retain power. In this regard, all the other presidential candidates for the NPP are good. However, Osafo-Maafo is well suited to be the flag bearer of the NPP due to the current political dynamics of our country as well as the factors I am about enumerate, digest and if you will, dissect. In the end, the judgment is in your hands.
RESCUCITATION OF GHANA’S ECONOMY, A HALLMARK THAT WILL FOREVER BE IN THE BOOKS OF RECORDS
It could be conspicuously recalled that as the NPP took the herms of affairs of governance in the country, the macro-economic indicators were never promising. The economy was near collapse. Within that critical period in Ghana’s socio-economic arena, Osafo-Maafo stood tall, took up the challenge and worked assiduously and brought the economy back on track. No wonder he was voted the best Finance Minister in the whole of Africa. The following are his achievements in the Finance Ministry.
Increase in the tax revenue from CEDIS4.4 trillion in 2000 down to 12.4% in July 2004 Reduction in the average lending rates from 47.5% to 29.5% and the Bank of Ghana Prime rate from 24.5% in 2002 to 18% in July 2004 Creation of medium term treasury market by creating 1 and 3 year treasury bills in addition to the existing 3 months treasury bills due to dramatic improvement in the stability of the economy Rise in foreign exchange reserve from $233 million to $1.425.6 million Overall budget deficit reduced from 6.5% of GDP to 1.7% of GDP Ghana qualified amongst the first nations in May 2004 to benefit from the Millennium Challenge Account instituted by the United States Government Granted independence to the central bank by law giving it the power to set interest rates and determine monetary policy Implemented policies in the cocoa sector which led to the highest yields ever in the cocoa sector. Output increased from 389,770 metric tones in the 2000/2001 crop year to 667,732 metric tones by 2003/2004 crop year Financial sector reforms including the new banking law and other bills to modernize the legal framework for payment systems, the preparation of an insurance bill and draft bills on money laundering, insolvency and financial institutions As a reflection of the general improvement of the economy, the daily national minimum wage increased between 2001 and 2004 by 267% (4,200 cedis to 11,200) and by dollar terms by 70%
Atta Mills on the other hand was the chairman of the NDC/PNDC economic management team. He made some impact but if it is put on a scale with Osafo-Maafo’s, Atta Mills’ record on the economy doesn’t match up to Osafo-Maafo.
He managed the take-off of a new national education reform program, focusing amongst other things on the development of the teaching of Math, Science and Information Communication Technology (ICT). He was also instrumental in setting up a dedicated teacher training college for Math and science and ICT. Moreover, the honorable Yaw Osafo Maafo finalized the bill to parliament for the council for technical and vocational education training (COVET) During his period in office, he introduced the new distance education scheme for teachers to solve the perennial problem of teacher shortages due to large numbers of teachers taking study leave to attend full-time courses and also oversaw the implementation of the national Basic Schools and capitation Grant scheme, aimed at ensuring universal free basic education ‘‘My dream is to lead Ghana to the World Cup” …Hon. Yaw Osafo-Maafo. As the Minister of Education and Sports, one of his main quests for sports as he indicated during his vetting in Parliament was to give Ghana its “biggest birthday cake”, that is its qualification to the World Cup for the first time. He carried us through to the highest level in the world cup tournament. This man says what he means and means what he says.
Hon.Osafo-Maafo’s achievements in other areas such as NIB, UNDP, AU, OAU, ADB, WORLD BANK etc. as both finance and economic guru go on and on.