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Senior Minister Yaw Osafo Marfo's Position Is a Waste of Taxpayers' Money

Feature Article Senior Minister Yaw Osafo Marfo's Position Is a Waste of Taxpayers' Money
SUN, 16 JUN 2024 LISTEN

Ghana currently suffers from mismanagement and corruption under the New Patriotic Party (NPP). One prominent figure in this narrative is Senior Minister Yaw Osafo Marfo, whose esteemed title and responsibilities have been detrimental to Ghana's economy and its people.

Upon assuming office in 2017, the NPP, through Yaw Osafo Marfo, acknowledged Ghana's challenging economic conditions, announcing a freeze on civil service hiring. However, contrary to this stance, Marfo's administration has faced accusations of nepotism, allegedly securing positions for his sons within critical institutions such as the Social Security and National Insurance Trust (SSNIT) and the National Communications Authority (NCA). Such actions undermine public trust and raise ethical concerns.

The recent appointment of Marfo's son to lead SSNIT, seemingly to undervalue SSNIT properties and facilitate their sale to NPP affiliates, suggests serious corruption under Marfo's supervision. These actions not only betray the Ghanaian people but also indicate a systematic effort to exploit national assets.

In a 2017 parliamentary hearing, Senior Minister Yaw Osafo Marfo advocated for a borrowing strategy to refinance debt, arguing it would create fiscal space and improve Ghana's debt profile. However, under Marfo's oversight, Ghana's debt-to-GDP ratio has surpassed 100%, with Bank of Ghana data showing a substantial increase in public debt from GHS 291 billion (76% of GDP) in 2020 to GHS 658.6 billion ($53.1 billion) by early 2024. This surge, fueled by both domestic and external borrowing, underscores the failure of Marfo's debt management strategy and highlights broader fiscal mismanagement issues.

Allegations surrounding illegal mining (galamsey), as outlined in Professor Frimpong Boateng's report, further implicate Marfo. As Chairman of the Inter-Ministerial Committee on Illegal Mining (IMCIM), Marfo held significant authority but is accused of involvement in mining activities and influencing the issuance of environmental permits to companies in which he had vested interests. These actions represent a clear conflict of interest and compromise the integrity of regulatory responsibilities, allowing illegal mining activities to thrive.

Under Senior Minister Yaw Osafo Marfo's leadership, 850,000 Ghanaians reportedly fell into poverty in 2022 alone, according to the World Bank. Additionally, the Bank of Ghana reported a significant loss of GHS 60 billion that year, partly attributed to mismanagement by Marfo's Economic Management Team (EMT).

In conclusion, Senior Minister Yaw Osafo Marfo's position has proven to be a waste of taxpayers' funds, prioritizing personal and party interests over national interests. As Ghana faces these challenges, it is evident that accountability and reform are urgently needed to steer the nation toward prosperity. That is why Ghanaian voters must reject the NPP in the upcoming December 2024 elections is imperative for Ghana's future.

Ebenezer Ato Ntarkurfah Jackson, Cornell University, MBA Class 2015, [email protected]

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Started: 02-07-2024 | Ends: 31-10-2024

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