June 13, 2024

The unstable economic situation in Ghana has negatively affected businesses and the citizens which many of them are moving to better themselves in different countries.

The economic crisis in the West Africa country has also forced numerous international corporations such as “GAME, Glovo, Nivea, BIC Pen, Dark and Lovely, BET365, Unilever Ghana, Jumia Food to move all or a portion of their operations to other countries.

Former president John Dramani Mahama has raised concern over the development.

He also lamented over public debt which has now hit a staggering 658.6 billion Ghana Cedis.

Addressing these challenges, the flagbearer of the National Democratic Congress (NDC) appealed to captains of industry and the investor community not to leave the country.

He attributed this to the poor economic management of the New Patriotic Party (NPP) government and assured that the new NDC government will work with them to create a conducive environment for businesses to thrive.

“GAME, Glovo, Nivea, BIC Pen, Dark and Lovely have all shut down. Unilever has relocated its tea production to Nigeria. Amid all this, our public debt has now hit a staggering 658.6 billion Ghana Cedis. But we cannot despair over the poor quality of governance that has served us in the last seven and a half years. I wish to use this opportunity to appeal to you, captains of industry and the investor community, to tarry a bit more. Please don’t leave our country.” Mr. Mahama wrote on his social media haddle X.

“You can rest assured that a new NDC administration will work with you to create a conducive environment for businesses to thrive.” He assured.

Commenting on the current unemployment in the country, Mr. Mahama said Ghana has now recorded the highest level of unemployment in the history of the 4th Republic.

“Unemployment has jumped to 14.7% from 8.5% in 2017, the highest level recorded in the history of the 4th Republic; inflation is above 25%, and the current interest rates range between 30% and 50%.” He said.

“The exchange rate, which was previously at 4.00 Ghana Cedis to the US dollar, has crossed the 15 Ghana Cedi threshold, and there appears to be no end in sight to the deterioration of the cedi. Despite this, the government remains unconcerned, unwilling to cut expenditures, and continues to spend more on creature comforts instead of investing in the transformational infrastructure that will propel this nation forward.” John Dramani Mahama who is seeking political power again added.

He appealed to Ghanaians to vote the poor performance NPP government out of office in the December 7 polls.

Source: Elvisanokyenews.com

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