It beats common sense why Tekpernomics and Dramaninomics cannot just see this. Now that the ecomini has failed they have introduced Tekpernomics and Dramaninomics. No one should bother advising these unadvisable government. L ... read full comment
It beats common sense why Tekpernomics and Dramaninomics cannot just see this. Now that the ecomini has failed they have introduced Tekpernomics and Dramaninomics. No one should bother advising these unadvisable government. Let them maintain this policy and by June they will hang themselves. What type of human beings are these that went to school and never learnt anything?
USMAN 10 years ago
Our leaders have been given the mandate to act for our common good but nay, they are rather confused on the job. Our useless university graduates, in authority, mostly from Legon, have been conjuring heaven and earth as the o ... read full comment
Our leaders have been given the mandate to act for our common good but nay, they are rather confused on the job. Our useless university graduates, in authority, mostly from Legon, have been conjuring heaven and earth as the only antidote to arrest the fall of the cedi but the more they strain their spleen the more the good for nothing cedi keeps falling. Look, the solution to this problem is as simple as ABCD and I will give only one scenario out a thousand. A British university, Coventry University, is in Ghana offering MSc degree for HND graduates at a cost of 5000 British Pounds using Ghanaian lecturers and Ghana Government buildings. They have centers in Koforidua, Accra, Kumasi and Takoradi and their classrooms are always filled to capacity. This same programme can be offered by our local universities at a fifth of that amount in the local currency but empty pride will not allow them to do so. So now you can see who is causing the devaluation of our cedi. This is one out of a thousand. Have you also considered the ACCA-ICA gap. More to come later.,
oyinasky 10 years ago
This whole bank of Ghana thing boggles the mind. About 2 days ago Zimbabwe legalized the use of 4 pounds, Euro, Chinese Yuan, RSA RAND, Botswana Pula as legal tenders in Zimbabwe. We are going backwards
This whole bank of Ghana thing boggles the mind. About 2 days ago Zimbabwe legalized the use of 4 pounds, Euro, Chinese Yuan, RSA RAND, Botswana Pula as legal tenders in Zimbabwe. We are going backwards
BlackC 10 years ago
This is more of encouraging the use of the Cedi in the economy.
Everyone needs to contribute to the stabilization of the Cedi and not just one institution. Malaysia did similar controls during the late 90's.
On an i ... read full comment
This is more of encouraging the use of the Cedi in the economy.
Everyone needs to contribute to the stabilization of the Cedi and not just one institution. Malaysia did similar controls during the late 90's.
On an individual level, Ghanians need to start buying local rice. That alone is millions of dollars of imports that are not needed.
OTCHERE DARKO 10 years ago
"Everyone needs to contribute to the stabilization of the Cedi and not just one institution. Malaysia did similar controls during the late 90's.
On an individual level, Ghanians need to start buying local rice. That alone ... read full comment
"Everyone needs to contribute to the stabilization of the Cedi and not just one institution. Malaysia did similar controls during the late 90's.
On an individual level, Ghanians need to start buying local rice. That alone is millions of dollars of imports that are not needed."
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With respect to paragraph (2) of the above extract from your comment, note that a medicine that is good for patient "x" may not necessarily be good for patient "y". In our (Ghanaian) situation, the kind of CONTROLS that the GoB is instituting in a country like Ghana, where WE ARE SO "LAZY & USELESS" THAT WE HAVE TO IMPORT "TOOTH PICKS" FROM CHINA, "KONTOMIRE" (COCOYAM LEAVES) FROM IVORY COAST & TOMATOES FROM BURKINA FASO, we cannot control foreign currencies and still survive. WE MUST START TO PRODUCE "IMPORT-SUBSTITUTING GOODS" in Ghana to enable us to STOP IMPORTING MANY OF THE THINGS WE IMPORT WITH FOREIGN CURRENCIES.
"Ghanaians need to start buying local rice". We said.
WHY WOULD GHANAIANS BUY IMPORTED RICE WHEN THEY (GHANAIANS) HAVE LOCAL RICE?
The fact is that the so-called "local rice" is either TOO EXPENSIVE, relative the price of imported rice OR it is so POOR IN QUALITY THAT GHANAIANS HAVE NO OPTION OTHER THAN DECIDE NOT TO BUY IT. For example, our local rice has plenty 'stones' and other forms of 'unwanted materials' in it.
If we want Ghanaians to "buy local", our local producers must cut down their costs of production, in order to sell our local produce and products at competitive prices. Product quality improvement must also be aimed at. It is when we do these things that Ghanaians will "start buying local rice" and other local produce and made-in-Ghana goods.
insight to the bone 10 years ago
the govt needs to implement measures that ensure the wealth of the nation remains with the people of the nation and for example introduce measures the discourage the gold mines frome continually siphoning out the money instea ... read full comment
the govt needs to implement measures that ensure the wealth of the nation remains with the people of the nation and for example introduce measures the discourage the gold mines frome continually siphoning out the money instead of investing in the economy , encourage the establishment of processing plants and factories instead of all these foolish procurement contracts , facilitate the easier return of our diaspora but ensuring a fair judiciary and institutions of state that function instead of all these corrupt sheriffs that only think of themselves . it doesnt matter which party is in power as long as they focus on the unity of the people and avoid anything or action that creates second class citizens . i say nationalise the gold concessions now or there will be a bloody revolution before the year is over and the country will fall apart . bring people who are fair a, competent and have integrity instead of these greedy barstards who lie so much that they themselves dont know what the truth is . stop the tribalism and introduce a system whereby merit and hard work are rewarded instead of all the propaganda mudslinging lies you serve us everyday , in short start to care so the people can show you love
Abeeku Mensah 10 years ago
Most of Ghana's so-called educated elite do take the rest of Ghana's citizens of captive audience as people with limited intellect. That is not to say their counterparts in the Diaspora who should know better because of their ... read full comment
Most of Ghana's so-called educated elite do take the rest of Ghana's citizens of captive audience as people with limited intellect. That is not to say their counterparts in the Diaspora who should know better because of their proximity to better management and best practices do not submit for posting on ghanaweb tons of trash as well.
Is it not true, Otchere Darko, that when people from the USA move money for safe keeping in any EU nations the money most likely will be kept in the Euro or native currency and not necessarily the US dollars? Is it also not true that if people from European nations send money for safe keeping in US banks, it is more likely for the money will be kept in US dollars and not in EU currency?
What then is the logic behind you guys espousing and promoting the idea that Ghana's banking and financial institutions engage in dollar and or EU currency banking and transactions as standard? Foreign currency, as you know is earned and not printed on a wish. Should Ghana spend all its resources earning the various foreign currencies for use by the selected few or should the government be responsible for all Ghanaians and not the 1 percent elite class? Investment in Ghana is not happening at desired levels not because of our currency but because since 1966 Ghana has not improved much on roads, telecommunications, water and sewage, drainage systems and well planned communities nor has there been well planned use of the land, sea and water resources. You need these physical improvements to attract foreign investment since every business that is committed to providing acceptable levels of customer service, in manufacturing or service oriented business, has to deliver on time and in quantity to its customers at where they live.
What are those Ghanaians in the Diaspora going to do with the money they intended to deposit in banking and financial institutions in Ghana? I can tell you for sure they wanted higher interest returns from the banks (as lending capital for respective banks) and not because they wanted to invest directly in basic infrastructure. They are motivated by profits and nothing else. Ghana's government must not sell land, mineral and natural resources on the cheap just to satisfy people for some temporary time period on the wishes of greedy speculators at the expense of a well planned and managed future that benefits Ghana's living and unborn generations.
Honestly Ghanaians here at home are suffering because of Ghanaians in the Diaspora who have seen no profits they will not seek and no money they will not try to get. Do you think there is any average plot of land measuring 100 by 100 in Accra Ghana worth $100,000? On what basis would anyone arrive at this amount if the average annual income of Ghanaians is listed around $20,000 or less annually? We arrived at these inflated prices because of those in the Diaspora whose actions have ensured that majority of Ghanaians living in Ghana can never attain the Ghanaian dream of owning a home at a reasonable and affordable prices. These actions are what have degenerated into the unsustainable greed, bribery and corruption that afflict the Supreme Court and the Judiciary, the legislators in parliament, the executive branch and every civil service post at supervisor and above. People are more likely to kill and sell family members of juju money because we have come acclimatized with money and the evils of money without work; we preach money and not morals. Even our church leaders are money seeking pimps using God’s name to pimp their congregation for increased collections and contributions.
EZEKIEL 10 years ago
WE have too many EXPERTS on the Economy and that's why NOTHING SEEMS TO WORK!
WE have too many EXPERTS on the Economy and that's why NOTHING SEEMS TO WORK!
It beats common sense why Tekpernomics and Dramaninomics cannot just see this. Now that the ecomini has failed they have introduced Tekpernomics and Dramaninomics. No one should bother advising these unadvisable government. L ...
read full comment
Our leaders have been given the mandate to act for our common good but nay, they are rather confused on the job. Our useless university graduates, in authority, mostly from Legon, have been conjuring heaven and earth as the o ...
read full comment
This whole bank of Ghana thing boggles the mind. About 2 days ago Zimbabwe legalized the use of 4 pounds, Euro, Chinese Yuan, RSA RAND, Botswana Pula as legal tenders in Zimbabwe. We are going backwards
This is more of encouraging the use of the Cedi in the economy.
Everyone needs to contribute to the stabilization of the Cedi and not just one institution. Malaysia did similar controls during the late 90's.
On an i ...
read full comment
"Everyone needs to contribute to the stabilization of the Cedi and not just one institution. Malaysia did similar controls during the late 90's.
On an individual level, Ghanians need to start buying local rice. That alone ...
read full comment
the govt needs to implement measures that ensure the wealth of the nation remains with the people of the nation and for example introduce measures the discourage the gold mines frome continually siphoning out the money instea ...
read full comment
Most of Ghana's so-called educated elite do take the rest of Ghana's citizens of captive audience as people with limited intellect. That is not to say their counterparts in the Diaspora who should know better because of their ...
read full comment
WE have too many EXPERTS on the Economy and that's why NOTHING SEEMS TO WORK!