BAN EXPORTATION OF RAW MATERIALS …Nduom

Dr. Paa Kwesi Nduom,

Story by Addotey Michael (BLG NEWS)

         The Progressive People’s Party (PPP) Presidential candidate, Dr. Paa Kwesi Nduom, during the IEA Presidential Town Hall debate, declared his intensions and policies to interdict the exportations and importations of raw materials into the country, in order to expand local industrializations.

With Dr. Nduom, was Dr. Edward Mahama, presidential candidate for PNC and Mr. Jacob Osei Yeboah, independent presidential candidate, who shared their vision and policies to the general public. According to Dr. Nduom, his government will not be interested in export and import promotion policies to boost the economy, but rather the establishment of factories to process the raw materials for consumption.  He said it’s not economically prudence to export raw materials, as that’s what the foreign countries process and export back to the country as finished product with higher value. He added that, these raw materials are usually bought by the U.S government and send back to African countries as aids during economic unrest in Africa, so why should the country export it.

He explained that, establishing local factories to process raw materials in Ghana will help the country to feed itself very well, which will minimize the importation and dumping of foreign goods in Ghana. He revealed that, the only way money can be kept in the country is by banning the importation of goods into the country. He added that, the Nduom group have experimented this policy and its working tremendously in different part of the country, hence it can be done nationally.

On the issues of debt management in the country, he posited that, the government is just overtaxing the citizens to offset its financial burden due to improper financial management in the country. He noted that, the government should engage financial experts rather than politicians for financial solutions. He finally urged Ghanaians to give PPP the opportunity to unite the country through inclusiveness, by involving people irrespective of their political affiliations, religion and ethnicity to work together for Ghana’s economic development. “We will use the authority of the state to prevent dumping of goods into Ghana, which deprived citizens of jobs”, he assured.

BoG directs MD of ARB Apex Bank to proceed on leave

The Bank of Ghana [BoG], has directed the Managing Director of ARB Apex Bank, Kwadwo Aye Kusi, to proceed on leave effective, November 28, 2016.

It follows investigations into allegations of bad corporate governance and financial malfeasance levelled against him.

A letter from the central bank and addressed to the Board Chairman of ARB Apex Bank stated, “For unfettered access to documents and information, it is required that the subject of investigations (Managing Director) stays out of office.”

It added, “The Managing Director is therefore directed to proceed on his outstanding leave, with effect from Monday, 28th November 2016, until investigations are concluded.”

The workers’ union of ARB Apex Bank, has lodged a complaint with the Bank of Ghana with another staff petitioning the central bank over issues of bad corporate governance, disregard of the bank’s policies and financial malfeasance which could affect the operations of the bank.

The Bank of Ghana says it has tasked the Financial Stability Department to conduct investigations into the allegations.

According to the BoG, the investigations are expected to last for two weeks; from November 21, 2016 to December 2, 2016.

‘The team may need to call randomly on Directors, Management and staff of ARB Apex Bank to clarify issues,’ the letter to the Board Chair further stated.

Last week, workers of ARB Apex Bank across the country, wore red wrist and arm bands for two days as part of protests against the allegations levelled against the MD and Board Chair.

SourceI citifmonline.com

THE IMPORTATION OF LABORS MUST STOP

Columnist- Addotey Michael

Ghanaians always agitate about the unemployment situation in the country to the magnitude of founding an unemployed graduates association. The government obviously solves this challenge with their campaign messages, especially during election period. “Vote for me and I will create jobs for you”. They believe creating jobs is by awarding contract to foreigners in the country. Hence most of the construction contracts and other contracts are usually given to foreigners such the Asian and north American countries. The government give excuses of lack of technical know - how and equipment to domestically award those contracts.

Are these the excuses we can give to justify the unemployment situations in the country whiles the country have technical universities and colleges? Why do Ghanaians waste their time to enroll in these universities in the country if the government still complains of lack of technical know – how and equipment in country? Then what are these technical universities in the country teaching in their schools? I believe these are the questions we need to ask the mandated authorities for answers. The contract to construct the recent commissioned Kwame Nkrumah interchange (DUBAI) was awarded to a Brazilian contractor whiles there are indigenous constructing companies in the country. These foreign contractors create holes in the country’s economy by sending all monies earned from the contract to their countries in order to boost their countries economy. 

The testimony after the constructions of such project is always economic development. How can the economy develop when all monies in the country have been exported into other countries through contracts? Instead of awarding construction contracts to indigenous contractors, the government rather awards cooking, ELECTION campaign mobilizations, cleaning and minor works to indigenous which don’t have significant impact on the economy. The construction industry tends to contribute majority to the economic growth of a country, so why do government gives it out to foreigners. A construction contract awarded to an indigenous, Dr. Agbesi Woyome, ended up in the supreme court as a result of an alleged money scandal. Does it mean that indigenous contractors will always end up in court after receiving a construction contracts or otherwise. Well, time will tell.

If the government thinks there are no knowledgeable and well-equipped contractors in the country, then why are they still running the technical universities where students are seriously learning civil and other technical engineering programs? The government must rather bring the foreigners with their equipment to teach students in Ghana in order for Ghanaians to be able handle such contracts, which can save the country a lot of money in the long run as contracts can be awarded locally. The country needs leaders with long national vision for generations, not political party vision, as political party vision ends for only 4years. Let’s note that, the main agenda for political parties is to win elections not to develop the country, hence they focus on executing policies that will help them to win elections for 4yrs but not to sustain development for 10years or above. The importation of labors must stop, so we can use our own creations!