High Ranking official of an International Development Bank asked me what is the situation in Ghana and what should We do to help? I replied: It is just difficult to understand how those in charge actually think in the midst of confusion. There is no connection between policy and reality, something that has led to the most frightening of slow downs in the last 6 years. As we speak, some private equity firms some of us advised to invest in Ghana, such as Fan Milk company are cutting back investment by GHS 15m this year due to indeterminate electricity outages. Guinness Ghana Limited planned the financial year which ends in July with an average GBP to Cedi rate of 1:3.7 but the pound is now being changed for 4.2 amidst buying 100 tanker loads of water every day for operations, taxation has been a messy and dodgy affair, many mine workers are being laid off. As for the rest of us, we are just existing as we all bear the final brunt of the policy illogicality space, many with pain and anguish, suppressing much of it, but not for long. The one thing you must do to help the government now, is to find them $300m to prevent gas flaring from the jubilee oil fields, and to fast track work on the Atuabo gas facility and to channel the gas to thermal plants to save the country from aggravated power paralysis. But tell them they need to show you a plan, a strategy on how these funds will be expended. Better still appoint your own technical advisors to make sure every dollar is spent as planned. We will keep on praying alongside.
Posted on: Tue, 18 Mar 2014 06:56:17 +0000
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