Ghana’s National Assets: The Untold Story Of Divestiture, Privatisation And The Question Of Who Benefited [Edition One]

Charles Owusu Juanah Esq

A Nation Must Ask Difficult Questions.
A country that refuses to interrogate its past risks repeating the mistakes of history.

For decades, Ghanaians have watched governments come and go while valuable national assets; built through the sweat, taxes and sacrifices of ordinary citizens; have changed ownership through various forms of divestiture and privatisation.

The central question every patriotic Ghanaian must ask is simple:

When public assets were transferred into private hands, did Ghana receive true value for money, or did a privileged few gain access to national wealth at the expense of the ordinary citizen?

This is not a question of political hatred. It is a question of accountability.

The State Is Not a Private Estate
Governments are temporary custodians of national resources. Political parties come and go, but the assets of Ghana belong to the Ghanaian people.

Factories established after independence, state farms, hotels, financial institutions, industrial enterprises and strategic companies were not created by political parties. They were created through public resources.

Therefore, any government that transfers such assets carries a sacred responsibility:

to ensure transparency, fairness and maximum benefit for the citizenry.

The troubling reality is that Ghana’s history of divestiture has generated serious public concerns about whether every transaction met this standard.

The PNDC Era: The Birth of Ghana’s Most Controversial Economic Transfer

The PNDC government, under its Economic Recovery Programme, embarked on one of the largest restructuring exercises in Ghana’s economic history.

The argument was clear: many state-owned enterprises had become inefficient, heavily indebted and unable to compete.

However, the questions that remain decades later are equally important:

* Were all state assets properly valued before disposal?

* Did Ghana receive the full economic benefit from the sale of these enterprises?

* Were ordinary Ghanaians given a fair opportunity to participate?

* Did politically connected individuals gain advantages over others?

These questions cannot simply be dismissed as political propaganda. They are legitimate questions in any democracy where public property changes hands.

The concern raised by critics is that some individuals who had access to political power during that era became beneficiaries of opportunities created through state divestiture.

Where evidence exists, such matters deserve investigation. Where evidence does not exist, accusations should not replace facts.

But silence cannot be the answer.
NDC Governments and the Continuation of the Divestiture Debate

The National Democratic Congress (NDC) governments also participated in various forms of state asset restructuring and privatisation.

Again, the fundamental issue is not whether private participation in the economy is wrong. Private investment can create jobs, increase productivity and attract capital.

The issue is this:
Was the process transparent, competitive and conducted purely in Ghana’s national interest?

Ghanaians deserve answers.
They deserve to know:
* who acquired state assets;
* what prices were paid;
* how those prices were determined;
* whether payments were completed;
* whether political relationships influenced transactions.

A democracy cannot operate on the principle that public resources are transferred behind closed doors and citizens are expected to accept explanations afterwards.

The Dangerous Culture of Selective Accountability

One of Ghana’s biggest governance problems is selective outrage.

When one political party is accused, its opponents become loud defenders of accountability.

When the same questions are raised about another party, the conversation suddenly becomes “political victimisation.”

This hypocrisy has damaged public trust.
Accountability must not have a political colour.

If an NPP government mismanages public assets, it must answer.

If an NDC government mismanages public assets, it must answer.

If any individual; regardless of political affiliation; benefits improperly from public property, the law must apply.

The Ghanaian People Are the Ultimate Shareholders

The ordinary Ghanaian worker who pays taxes, the farmer who contributes to the economy, and the young person searching for employment are the real shareholders of Ghana.

They did not sit in boardrooms when national assets were transferred.

They did not negotiate purchase agreements.
They did not determine valuations.
Yet they live with the consequences.
When a factory closes after privatisation, communities suffer.

When strategic industries disappear, jobs disappear.

When national assets are undervalued, future generations lose opportunities.

_To be continued in Edition Two (Part II)…_

For any question(s) send mail : [email protected]