NPP would’ve built 1000 factories with $40bn loan – Bawumia

The Mahama-led administration should have transformed the Ghanaian economy with the amount of money it has borrowed, but it instead proved inefficient in its spending, the Running Mate of the opposition New Patriotic Party (NPP), Dr. Mahamadu Bawumia, has said.

According to him, preliminary figures for money borrowed by the present administration, a purported US$ 40 billion, indicates that if properly put to good use, that money could have built many more factories.

This was in apparent response to officials of the National Democratic Party (NDC) administration who questioned the viability of a proposal by the NPP flagbearer, Nana Akufo-Addo, to facilitate the building of factories in all districts across the country.

Dr. Bawumia was speaking at the opening ceremony of the Freedom Forum in Accra, organized by the Youth Wing of the NPP.

In his view, if the NPP had access to US$ 40 billion, the NDC government borrowed, his government could establish 1,142 factories.

“Our government for example was beating its chest a few weeks ago that it has established a sugar factory for US$ 35 million meanwhile you have borrowed some US$ 40 billion. We could have established a thousand of such factories… 1,142 to be precise,” Dr. Bawumia said.

The US$ 40 billion government borrowed, according to Dr. Bawumia, should have been enough to positively transform any African economy.

“You look at US$ 40 billion, and I gave you US$ 40 billion to spend in any African economy, you would have to see transformation,” he asserted.

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By: Delali Adogla-Bessa/citifmonline.com/Ghana