Ivor Greenstreet: Ghana needs to rethink growth strategy

Flagbearer of the Convention Peoples Party (CPP), Ivor Kobina Greenstreet, has underscored the need for an overhaul of the strategies for Ghana's economic development.

Speaking Tuesday at this year’s Institute of Economic Affairs (IEA) Evening Encounter at Alisa Hotel in Accra, Mr Greenstreet said although there is some level of economic growth, this is not reflected in employment generation, and while there is growth there is also increasing inequality.

"So clearly we have to rethink our growth strategy because growth is pointless unless it produces high earning jobs and wealth for all,” the Presidential aspirant told audience at the event.

This new growth strategy, Mr Greenstreet says, must be one that actively engages the private sector in the area of agricultural production and marketing for the production of import substitutes.

“We must invest in manufacturing and agriculture because that is where the potential for job creation is high. For example growing fibre to produce jute sacks would save the country 300 million US dollars otherwise paid to other countries and the ingenuity of Ghanaians with or without government has proven that we are capable of developing many valuable niche markets.

“Today in beauty products, high quality Ghanaian shea is available in small quantities but both the NDC and the NPP have mis-governed our niche markets like shea, cashew, bamboo and others,” he said.

He said recent statistics which puts Ghana’s unemployment rate at 48% among Ghanaians between the ages 15 and 24, with possibility to peak in the next decade is unacceptable.

“Kwame Nkrumah was a creative mind. In his time, even prisoners worked to produce food; in our time we pack them into prison houses to rot. The CPP believes it is possible to change the structure of the economy.

“Ask yourself how we got here? 24 years of the same policies by the NPP and the NDC have brought us here. Inflation targeting among other bad policies by the two governments is what has brought us here. The CPP will not implement that,” he promised.

He said the party believes in a development concept that puts people at the centre and not one that uses statistics to gauge level of national development.

He said a CPP government will abrogate any Economic Partnership Agreement (EPA) signed unilaterally with the EU.

“Ghana is safer and sound. We will stand by Nigeria in seeking a collective negotiation with the EU on the EPA agreement,” he announced.

­­­­­­­­­­The former General Secretary of the CPP floored three contestants to emerge winner in the party’s polls to be flagbearer in February this year. He beat Samia Yaba Nkrumah, who was the favourite, to emerge the party's Presidential candidate for the November 7 general elections.

The New Patriotic Party (NPP)'s flagbearer, Nana Addo Dankwa Akufo-Addo, will take his turn on Tuesday July 5, 2016 to outline his agenda if he becomes president after the Novemeber elections.

The IEA Encounter offers Presidential aspirants of the various political parties, with representation in Parliament, the opportunity to engage the public on policies they will implement if they win the elections in November this year.

Story by Ghana | Myjoyonline.com | George Nyavor | [email protected]