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On the many parises of Ghanaian economists

Mon, 10 Oct 2016 Source: Danso, Kwaku A.

By Kwaku A. Danso

Not to be personal, partisan or take anything away from Dr. Bawumia, but can some of his supporters list for me some concrete PLANS he has in mind to turn Ghana's economy around from the current 90-95% IMPORT economy to one of self -dependence.

I'd like a complete strategic and logical analysis of how the NPP plans to

- Increase local production

- Reduce imports

- Create jobs

- Help finance business startups

- How to reduce bank lending interest rates, and

- strategies that will help REDUCE RISKS IN LENDING that cause what appears like greedy usury lending rates and discourage any business borrowing for long term, cut down any profitability, increases inflation rate, damage our currency, and the cycle of national bankruptcy has been ongoing for decades, and poverty continues!

I am not convinced the Economists in Ghana, no matter the accolades we give them, understand BUSINESS, and HOW TO BUILD our NATIONS ECONOMY.

Please if anybody doubts me, read the masterful book and documentary by former Prime Minister of Singapore: Lee Kuan Yew: From Third World to First: The Singapore Story 1965-2000.

I think we are all joking when we clap for these Economists who have no clue how to create jobs, how to even measure unemployment rates and simply fabricate a number out of thin air at 5.2%, have no idea how to produce, and what it takes for investors to even invest in Ghana and build any economy at all for the economists to analyze!

The Holy Christian Book the Bible teaches us that we must work hard and sweat in order to succeed.

"In all labor there is profit, but the talk of the lips tendeth only to penury" (Proverbs 14:23).

In Ghana it seems we prefer talk and lectures, and songs, awards and "dancing around", as my uncle puts it.

Please don't take this as a criticism of Dr. Bawumia alone! No! Some of us have been observing the talk for close to five decades now!

With government Bank lending interest rates starting at 20% and retail from 30-39%, encouraging IMPORTS, and then counting on MOST government revenues coming from PORT DUTIES and TAXES of 45% to sometimes 100-150% (personal documented data), poor infrastructure such as roads in cities taking 2 hours to travel across 20 miles, untrained and unlicensed craftsmen, artisans and sometimes crooked automobile mechanics.

How do we pour accolades and praises on these men who have not even been able to help our leaders achieve a fraction of what smaller nations with less resources have done!

Kwaku A. Danso M. Eng., PhD (Business)

Author: Leadership Concepts and the Role of Government in Africa: The Case of Ghana (2007, XLibris)

LIFE IS WAR! A Letter to Nephews, Nieces and Loved ones behind (2015, Page Publishing)

Columnist: Danso, Kwaku A.