What NPP-affiliated Economists Wouldn't Tell Ghanaians: The Akufo Addo-Bawumia Government Doesn’t Attract Investors' Interest In Investment

The New Patriotic Party, the government in power, is responsible for the collapse of the economy, businesses, and investments. Mismanagement, money laundering, and pervasive corruption have resulted in a high rate of unemployment and inflation, which has decreased the value of Ghana's currency. However, what government-affiliated economists have been concealing from Ghanaians is that businessmen and entrepreneurs are scared and wouldn’t risk an investment in Ghana.

Since the labor market, or employment, is comparable to any commodity market, shortages occur and product prices rise when a store runs out of certain items. Aside from pervasive corruption, one of the major causes of the economy's decline and the currency's depreciation has been the high unemployment rate. Therefore, it should be extremely evident to Ghanaians that the claims made by Bawumia, Akufo Addo, and Ken Ofori-Atta on the creation of 2.5 million employment are untrue.

It is not an exaggeration to say that the NPP is the most reckless, laziest, and corrupt government in Ghana’s political history. The selection of Akufo Addo, as the party’s presidential candidate was its worst error. The collapse of Ghana's economic and commercial enterprises, as well as investment, in the face of high inflation rates, is not related to COVID-19 or the conflict between Russia and Ukraine. Rather, it is the result of a leader who took advantage of his father's political connections to loot Ghana.

Ghana's problems began with the way the NPP government handled the country's finances carelessly. Since banks are essential to a growing economy, thriving businesses, and job creation, it is incomprehensible that a finance minister would choose to shut down banks instead of coming up with ways to keep them open. Ghanaians are aware that the crisis started with the bank closures; hence it is unrelated to COVID-19 or the conflict between Russia and Ukraine.

Under the Akufo Addo-Bawumia administration, Ghana's enormous natural resources, which had made it one of the most attractive destinations for investors in West Africa, began to diminish. Every responsible administration should have prioritized job creation, but the NPP did not, even while the president was carelessly wasting money on opulent travel. Samuel Okudzeto Ablakwa, the MP for North Tongu, claims that Akufo Addo spent €480,000 traveling to Rwanda and Belgium.

Ablakwa exposed the president's numerous instances of careless spending, such as his rental of an opulent VIP jet for his trip to Germany for $14,000 per hour. Despite all his warnings to prevent future economic disasters, as witnessed today, was perceived as an enemy. Till today, the MP is facing verbal attacks and death threats. Even though the NPP promised never to go to the IMF, Akufo Addo's careless spending has made clear why the government went to the financial institution for assistance.

There are numerous obstacles to be overcome whether you're a businessman purchasing a home abroad or locally to safeguard your investment. When investing, these issues are exacerbated, particularly if you broaden your search to include previously undiscovered areas. In light of this, investors have been alarmed by the failure of banking institutions and the suffering endured by numerous investors and pensioners throughout the government's debt restructuring process.

Renowned US economist Professor Steve Hanke has been warning potential investors worldwide not to take the chance of investing in Ghana under the NPP government, citing Akufo Addo-Bawumia's rampant corruption and financial mismanagement as the reasons behind the collapse of the economy. The US economist criticized the president's reliance on foreign borrowing, claiming that it is exacerbating Ghana's debt crisis, and attacked the government of Ghana for their $2 billion deal with South Korea.

Recall that in June of last year, while I was in Ghana looking into the reasons behind the collapse of the economy, companies, and investments, I mentioned that the ship Grande Angola was anchored at Takoradi harbor with just three vehicles. I also learned that the owner of one of the cars had to pay about 4,000 euros to have it delivered. That should be enough to convince any rational person how the economy has been wrecked by Akufo Addo and Bawumia.

It is abhorrent for anyone, including the media, to report the truth about the dire situation Ghanaians find themselves in as a result of the NPP government, under the leadership of Akufo Addo and Bawumia. Despite their claims to the contrary during the presentation of their economic team, they lack the men. The mass rejection of Bawumia and his running mate, Matthew Opoku Prempeh, by Ghanaians since the two are part of the destructive government, has been a nightmare to NPP politicians.

Though there is little chance of either Bawumia or Matthew Opoku Prempeh defeating the NDC, a rigged election would not only result in violence but also a worse economic crisis than the one that has already pushed many Ghanaians into poverty because no one wants to take the chance of investing under this notorious, dishonest, and incompetent government.