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Akufo-Addo-Bawumia-led regime is good at misplacement of priorities

Feature Article Akufo-Addo-Bawumia-led regime is good at misplacement of priorities
TUE, 09 APR 2024 LISTEN

It has become evident that this Akufo-Addo-Bawumia-led regime for the past 7 years has initiated and carried out policies that turned out to be misplaced priorities for Ghana.

My assertion is based on actions of this Akufo-Addo-led government in the areas of domestic banks, Ghana card, IMF loan, National Cathedral and worsening galamsey menace in the country.

In the specific context of Ghana and as a developing nation, the actions of the Akufo-Addo-Bawumia-led regime on the above-cited issues demonstrate apparent misplacement of priorities. Here is why.

Domestic banks
As soon as the Akufo-Addo and Dr. Bawumia assumed office, their government was so busy closing domestic banks and other deposit-taking financial institutions instead of protecting them to save and create more jobs for economic growth and sustainable development.

Although these local banks were facing re-capitalization issues, the most prudent way was to use necessary financial resources of the state to keep the domestic banks in business under strict supervision by the Bank of Ghana (BOG). However, the Akufo-Addo-led government chose to close these thriving domestic banks and other deposit-taking institutions, leading to massive job losses and associated financial consequences for affected employers.

Instead of using about GHS9 billion to save these financial institutions, the Akufo-Addo’s government ended up spending about GHS25 billion to collapse them. This is a clear case of misplacement of priorities and recklessness on the part of government. The perception that the former Finance Minister, Ken Ofori-Atta protected his Data bank and punished other local banks is justified.

Ghana card
To procure Ghana cards for all Ghanaians and non-Ghanaians as a means of national identification is laudable. This national identification process started a long time ago and picked up momentum in this regime and it is also commendable.

However, the misplaced priority for the Ghana card lies where the Akufo-Addo-Bawumia-led government is fixated on procuring the cards for voting purposes and not making sure that the national cards registration process is efficient to provide a card to every Ghanaian. The Vice President’s pronouncement that he would choose a Ghana card over that of infrastructural development demonstrates the misplaced priority of this government I am talking about.

IMF loan
Going to the International Monetary Fund (IMF) for a short-term credit facility to ensure financial discipline and credibility is not new to Ghana. The way this Akufo-Addo-Bawumia-led regime went about this IMF deal approval of $3billion loan was worrying and callously done.

For instance, instead of this Akufo-Addo-Bawumia-led regime cutting its expenditure significantly due to the bloated government size to address the economic difficulties, it rather spent recklessly on expensive external travels on the President. There are also serious leakages through corruption deals under this current regime.

There were empty bold declarations by the former Finance Minister and his deputy (late John Kumah) that Ghana was a proud nation, and the country would not go to IMF for a bailout. Finally, this same government made an embarrassing U-turn and took Ghana to the IMF again after coming out of it in 2019. Ghanaians were made to undergo excruciating Domestic Debt Exchange Program (DDEP), the first of its kind in the country.

National Cathedral
Another classic example of misplaced priorities under this Akufo-Addo-Bawumia-led regime is that it is so pre-occupied with a personal pledge of pleasing God with a corruption-riddled Cathedral rather than using scarce financial resources to build more schools and hospitals for the citizenry.

The issues of ragging dumsor, no bed syndrome in health facilities, empty plates in Senior High school, worsening corruption, etc. are matters of urgent national importance. The stalled Cathedral project also suggests that God is not pleased with the intention of building a dwelling place for him Ghana.

Galamsey menace
The devastating and worsening high tech galamsey (HTG) operations under this Akufo-Addo-Bawumia-led regime contrary to political promise from the President by putting his Presidency in 2020 is also troubling.

The galamsey fight has indeed defeated President Akufo-Addo and he is simply looking on this illegal and dangerous HTG practice helplessly. The Anti-galamsey report authored by Prof. Dr. Kwabena Frimpong-Boateng revealed the presence of ‘Presidential Galamseyers’, which has confirmed the insincerity and misplaced priority of the Akufo-Addo-Bawumia-led government to fight this environmental menace.

Conclusion
The above-stated unfortunate turn of events under this Akufo-Addo-Bawumia-led government is a testament of misplaced priorities. Priorities must be set straight and necessary resources put in place to address them as soon as possible. This governing NPP regime led by Nana Akufo-Addo and Dr. Bawumia lacks new ideas, energy, and credibility to govern the nation again and needs to be changed on December 7, 2024.

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