Ghana must tread carefully ! News of an economic problem brewing is not good news for any country. Not least when that country has been a beacon of hope for a region. Thus, the economic news coming out of Ghana this week, albeit, in whispers has not been what some of us would want for now. Ghanas currency, the Cedi, lost 40% of its value to the U.S dollar in the period January to June this year: inflation rate hovered at 15% in June, 2014. Ghana has taken the first step to seek IMF advice. No, this is one case of an African country on the go ! Let the dream not turn to nightmare, please ! Ghana was bound to make the mistake of others somehow. That was the naysayers warnings then. The discovery of oil does not confer on our politicians the right to spend in advance what we are yet to earn. This thinking on the part of our leaders and the people is wrong ! Ghana should rein in her borrowings; unwean the people from the wild dream that oil flow means dollar growing on top of the next mango tree. For, money does not grow on trees ! And, please cut down now on recurrent expenditure. Cut down on subsidy, where it is in existence. Where there is a populist demand for subsidy, and it is not yet in place. Do one thing : Say No ! to such subsidy. Very difficult this, I know, being an African : Cut the Cost of Governance, drastically and now ! Our cost of running government in Africa is obscene. Too costly, too nepotistic ! No Ministry needs to have thousands on its payroll to run efficiently. E-government costs less and it is a thousand times more efficient in service deliverables and results. There is no civil service in Africa that beats SingaporeLs in efficiency and servoce delivery, but look at how many the number of such people are ! Whatever you do, kill the seed of Corruption before it gains root ! Ghana is too stellar an example to go the way of the past. History repeats itslef to those who failed to learn from the last circle. God bless Ghana; God bless Africa !!!
Posted on: Thu, 07 Aug 2014 18:39:53 +0000