President Mahama Makes Right Move On Economy

With the challenge to the 2012 Presidential Election results now over, the health of Ghana’s economy now remains the biggest focus on everybody’s radar.

The election petition case took a stranglehold on the country for eight good months leading to a depreciation of the cedi against major foreign currencies in addition to foreign direct investments taking a big hit due to uncertainties surrounding the outcome of the petition case.

Therefore with the case behind us, the Mahama government is moving steadily to recoup some of the lost grounds in order to rebound the economy.

A very important thing that President Mahama has done is the devotion of $200 million which is 27% of the $740 million Eurobond proceeds towards the payment and completion of on-going capital intensive projects in various sectors of the economy.

Some of the projects which will see life from the $200 million gates are the Sofoline Overpass in Kumasi which will definitely ease traffic from Kumasi to Sunyani and other parts of both Ashanti and Brong Ahafo Regions when completed.

Other projects in the midst of beneficiaries include the Okponglo/Madina road which still causes huge traffic chock during early mornings and late evenings just around the main entrance of the University of Ghana, Legon. We see drivers always hurling curses when they sit in their slow moving vehicles either trying to get to work or to their homes after a hard day’s work. The completion of the Okponglo/Madina road will therefore bring a big relief to motorists who ply that road.

The Anyinam-Konongo-Nkawkaw bypass, the Ho-Fumey road and the Asankragua-Enchi road, the Sakumono Sea Defence, some agricultural and fisheries projects, electrification projects under the Self-Help Electrification Project (SHEP 4), as well as some transportation and other social infrastructure projects will hit the $200 million gates.

This move by President Mahama is in the right direction as the completion of all these projects will contribute in making life very bearable for Ghanaians. Whether we like it or, a healthy economy and infrastructural development that cuts across the country will continue to be a winning message for any government for a long time to come.

As a result, President Mahama stands to gain if he ensures that monies accruing to the country are utilized in sectors of the economy that are in line with his economic and social vision for the country.

Ghana needs to move forward but in the right direction. Therefore, the economic management team of the current government has to seal the bolts and knots that has the tendency of bringing leakages in the economy.

Some of these projects started during the Kufuor’s administration and it is very gratifying that the NDC government did not shun them at the expense of the country, but has taken the bold step to complete them for the overall benefit of the country.

These are some of the issues that Ghanaians have to take into account. Gone are the days when in-coming administrations do not want to have anything to do with projects initiated by previous governments leading to such projects becoming white elephants or going waste at the expense of the country.

President Mahama must further demonstrate his overall stamp on the economy by looking at other areas that need the injection of life such as roads, electricity and water among others not forgetting small scale businesses with soft loans.

nakuakoduah@yahoo.com