Quantum leap in economy under Kwame Nkrumah, 1951 - 1966 (Part 2)

Read Comments Comments (16)

• francis kwarteng 8 years ago

  Excellent.
  
  More of those, Prof Lungu.
  
  Thanks for your unbending truth when it comes to the historical record where the unparalleled achievements of the incomparable Nkrumah are concerned.
  
  Thanks a billion times.

  Excellent.
  
  More of those, Prof Lungu.
  
  Thanks for your unbending truth when it comes to the historical record where the unparalleled achievements of the incomparable Nkrumah are concerned.
  
  Thanks a billion times.

  reply
• Kojo T 8 years ago

  Youth Of Ghana must learn and hail the great achievements of this man .His is what is termed LEADERSHIP. The brain dead NPP fanatics will argue about J B D and his detention and death . But do we ho ...
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  Youth Of Ghana must learn and hail the great achievements of this man .His is what is termed LEADERSHIP. The brain dead NPP fanatics will argue about J B D and his detention and death . But do we honor terrorists and traitors? These are the differences and let all read

  reply
• francis kwarteng 8 years ago

  You could not be more right, Bro Kojo T.
  
  Prof Lungu is doing an excellent job.
  
  Thanks.

  You could not be more right, Bro Kojo T.
  
  Prof Lungu is doing an excellent job.
  
  Thanks.

  reply
• Military Man 8 years ago

  You are no better than anybody given your ethnocentric leanings... a lapdog for JJ, THE NOTORIOUS BUTCHER OF GHANA.

  You are no better than anybody given your ethnocentric leanings... a lapdog for JJ, THE NOTORIOUS BUTCHER OF GHANA.

  reply
• Mensah 8 years ago

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  reply
• Lilazia 8 years ago

  HETEROSEXUALITY is like Bisexuality and asexuality

  HETEROSEXUALITY is like Bisexuality and asexuality

  reply
• Prof Lungu 8 years ago

  Correction....
  
  In 1951, before all the handover from Britain, while Nkrumah was in fact still in prison, before he was appointed Leader of Government Business, the deficit on the current account of the Gold Coast was $144, ...
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  Correction....
  
  In 1951, before all the handover from Britain, while Nkrumah was in fact still in prison, before he was appointed Leader of Government Business, the deficit on the current account of the Gold Coast was $144,820,000.00.
  
  READ:
  "... In 1951 the deficit on current account (of the Gold Coast) was £52 million...".
  
  (Around 1951, £52M (GBP Pound Sterling) was approximately equivalent to $144,820,000.00(USD)).
  
  Peace!

  reply
• Prof Lungu 8 years ago

  (1) Paper was published without the graphic. It is possible Ghanaweb will pull it up, in due course.
  
  In the mean time, you can get a copy of the final, corrected, and with the graphic, at:
  
  www.ghanahero.com/Visions/Nkr ...
  read full comment

  (1) Paper was published without the graphic. It is possible Ghanaweb will pull it up, in due course.
  
  In the mean time, you can get a copy of the final, corrected, and with the graphic, at:
  
  www.ghanahero.com/Visions/Nkrumah_Legacy_Project/Prof_Lungu/Quantum_Leap_in_Economy_Under_Kwame_Nkrumah_1951-1966_Part_2.pdf.
  
  (2) NOTE:
  We do not expect anyone wasting their time and ours coming up with current value of monies invested on projects by Kwame Nkrumah, for Ghana. (That would be a pointless exercise, from our point of view).
  
  Trust us, we can also calculate and present for all to see approximate BENEFIT to Ghanaians of many of the same projects, year-after-year, going back 51 years, or when they were first constructed, using original cost.
  
  Don't waste our time, blokes!
  
  Peace!

  reply
• Prof Lungu 8 years ago

  To say...
  
  Take your pick and add up your own figure for cost and value as of this year, 2017.
  
  
  Replace No. "23. Cape Coast University" with another project Kwame Nkrumah project not on our short list.... .

  To say...
  
  Take your pick and add up your own figure for cost and value as of this year, 2017.
  
  
  Replace No. "23. Cape Coast University" with another project Kwame Nkrumah project not on our short list.... .

  reply
• THE REAL C.Y. ANDY-K 8 years ago

  Great job as usual.
  
  Take out Valco too since it was wholly owned by Kaiser.
  
  Let us add any of the ff.:
  1. Workers Brigade Garment Factory.
  2. The Vono Mattress Factory
  3. Kade Match Factory
  4. The State Farms with ...
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  Great job as usual.
  
  Take out Valco too since it was wholly owned by Kaiser.
  
  Let us add any of the ff.:
  1. Workers Brigade Garment Factory.
  2. The Vono Mattress Factory
  3. Kade Match Factory
  4. The State Farms with 100s of tractors imported to start the agrarian revolution. Have a document in which a Commissioner "discovered" in 1967 over 500 abandoned in the bush in the NR.
  5. Aboaso Glass Factory
  6.
  7.
  .
  .
  .
  .
  Andy-K

  reply
• Dr. Otto 8 years ago

  Apart from the useless Ewe J.K. Bokor all other stupid fools of Ghanaweb are right here today:
  - Lungu aka self-made Prof, without Cert.
  - Kwarteng aka "cut & paste idiot"
  - THE REAL C.Y. ANDY-K aka too known Ewe.
  
  Those ...
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  Apart from the useless Ewe J.K. Bokor all other stupid fools of Ghanaweb are right here today:
  - Lungu aka self-made Prof, without Cert.
  - Kwarteng aka "cut & paste idiot"
  - THE REAL C.Y. ANDY-K aka too known Ewe.
  
  Those are the most tribal and partisan insanes so far on the opinion section of the Ghanaweb media platforms.

  reply
• francis kwarteng 8 years ago

  Wow!
  
  "The State Farms with 100s of tractors imported to start the agrarian revolution. Have a document in which a Commissioner "discovered" in 1967 over 500 abandoned in the bush in the NR.

  Wow!
  
  "The State Farms with 100s of tractors imported to start the agrarian revolution. Have a document in which a Commissioner "discovered" in 1967 over 500 abandoned in the bush in the NR.

  reply
• Prof Lungu 8 years ago

  All interested parties may want to keep a copy of the Read posting. Speaking about the 1st post.
  
  It is safe to say that the NLC did not do any serious analyses before throwing out/getting rid of the projects, including mot ...
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  All interested parties may want to keep a copy of the Read posting. Speaking about the 1st post.
  
  It is safe to say that the NLC did not do any serious analyses before throwing out/getting rid of the projects, including mothballing the tractors Andy now mentions.
  
  In Part 1 of the Read's post, Mr. John Cordle explains clearly what was happening with both categories of industrial production and services.
  
  While the 100% state enterprise were challenged due to "lack of practical ability" and "civil engineering", of types solvable with time and experience, and training, the government-private enterprises we doing well. In fact, out of 32 corporations, only about 4 were under-performing.
  
  READ: "...In the event, State enterprises have been created which, generally speaking, have failed because of lack of practical ability. Of 32 State-owned corporations in which the Government have invested about £40 million, net accumulated losses to date have been incurred of nearly £14 million, principally by the State Mining Corporation £6 million; Ghana Airways—£5.1 million; and the State Farm Corporation—£2.4 million.
  
  WE SAY: Again, we will note that out of 32 corporations, only about 4 were underperforming. Interestingly, Mr. Cordle does not mention the Black Star Line, which we believe was 100% government-owned. The BSL was doing well and had re-invested in more efficient ships around 1962-1964, if our memory serve us right.
  
  
  THEN THIS FROM MR. CORDLE: "...By contrast, some projects in the private sector are operating efficiently. A soap factory of Unilever is a good example, and the textile printing works at Tema, which will be managed by Unilever and A.D.A.T.I.G., should prosper. A cocoa-processing factory and steel works at Tema have every chance of success, as has a projected glass factory at Tarkwa. In contrast to the losses made by the State-owned enterprises, the joint State-private enterprises showed total accumulated profits of over £600,000 from total investments of £1 If we are going to track these matters and learn the History of Ghana, you want to makesure you keep a copy of the Read posting, the first one.
  
  
  The other pertinent commentary was the one by Mr. John Tilney (Liverpool, Wavertree), who introduces the concept, "the Little England, anti-developing Commonwealth aspect of our recent Budget", and the need for quick trade agreement on cocoa just, as they'd done for sugar in the immediate past.
  
  READ MR TILNEY IN FULL: "...Mr. John Tilney (Liverpool, Wavertree) I must declare an interest as a director of a company which trades both in and with Ghana, that country of pleasant people where I have many fiends, a country naturally richer than any purely African country south of the Sahara. It is an independent Common-wealth country and I would not wish to go in detail into what are its private affairs. We are all guilty at times of spending not all that wisely, and if banks suddenly foreclosed on individuals, companies or countries we might all find ourselves in a difficult situation...I hope that Her Majesty's Government may be able to meet some of the points so very sensibly raised by my hon. Friend the Member for Bournemouth, East and Christchurch (Mr. Cordle). Private enterprise, of course, has been hit in Ghana by import rationing and heavy taxation, but so might it be by the Little England, anti-developing Commonwealth aspect of our recent Budget. My hon. Friend is perfectly right when he lays emphasis on cocoa. I remember the Korean boom in cocoa when it reached nearly £500 a ton. In 1954 the average price was £467 10s. The drop in price has been really staggering. Only a few months ago it was over £200. Now it is under £130, and that in depreciated £s. Therefore, whatever Her Majesty's Government can do to get the Western world to help in this cocoa crisis I believe not only Ghana but other countries in the developing world would be extremely grateful.
  Unfortunately we cannot very easily have a Commonwealth cocoa agreement. The Commonwealth Sugar Agreement has enabled the West Indian islanders and others to hold their heads high, but we take no more than 7½ per cent. of the world cocoa production. Therefore, if we can get our friends in Europe and the United States and the U.S.S.R. to come into some worldwide agreement, we will do much to prevent not only Ghana but Western Nigeria from suffering."
  
  
  WE SAY: Our sense is, none of the savings kept by the corporatist cocoa syndicates in London, New York, Brussels, etc., by paying less to Ghana and other cocoa producing countries, were ever passed on to consumers in New York, London, or Ghana, for that matter.

  reply
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• plain plain on Feb'13'20:14'48 8 years ago

  yes pro. the project were too much you can't remember all. there were co operative farming in most rural arials producing foods for our country which created massive jobs for uneducated villagers. may God have mercy on him li ...
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  yes pro. the project were too much you can't remember all. there were co operative farming in most rural arials producing foods for our country which created massive jobs for uneducated villagers. may God have mercy on him like he kwameNkrumah has for Ghana ameen amen.

  reply
• Paa Joe 8 years ago

  THEY CAN TWIST HISTORY, AND EVEN SAY,AKUFFO ADDO SNR, DANQUAH, BAFFOUR AKOTO,DOMBO,KOI LARBI AND BUSIA WERE THGE ONES THA´T DECLARED GHANA'S INDEOENDENCE DAY AT THE OLD POLO GROUND IN 1957:
  TRUE HITORY WILL ALWAYS CONTINUE ...
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  THEY CAN TWIST HISTORY, AND EVEN SAY,AKUFFO ADDO SNR, DANQUAH, BAFFOUR AKOTO,DOMBO,KOI LARBI AND BUSIA WERE THGE ONES THA´T DECLARED GHANA'S INDEOENDENCE DAY AT THE OLD POLO GROUND IN 1957:
  TRUE HITORY WILL ALWAYS CONTINUE TO REPEAT ITSELF.
  
  IS NOT A SHAME FOR THE SONS AND GRANDSONS OF THE ANTI-ELEMENTS, NATIONAL LIBERATION MOVEMENT(NLM), ACTION TROOPERS(AT) AND UNITED PARTY(UP)TO SCRAMBLE TO BE RULERS OF GHANA OF THE VERY STONE THEIR RELATIVES REJECTED.
  
  VERY SHAMEFUL INDEED TO STAND AT THE BLACK STAR SQUARE BUILT BY THE FOUNDER OF THE NATION, OSAGYEFO DR KWAME NKRUMAH, AND TO PREACH LIARS.
  
  DO SUCH CROOKS GO TO CHURCH AT ALL.

  reply