President Akufo-Addo says he has travelled across the country well enough to know at first hand, Ghana’s bad roads despite former government’s touted unprecedented infrastructural achievements.
He says the rail network from Tarkwa to Takoradi and other rehabilitations of old railway lines is expected to ease the difficulty of travelling.
Work at the Achimota-Nsawam rail line is ongoing and some 10 passenger coaches are being procured. He says he is excited about the aviation sector as competition is driving down cost of domestic air travels.
The Sinhydro project, a $2bn deal with China, is a welcome game changer in road construction in Ghana. He will ensure value for money as the Chinese company constructs roads and other social infrastructural projects.
He allays fears Ghana will end on the bad side of the deal with China and compromise her soveriegnty.
The President says the 2019 budget is founded on entreprenuership, infrastructure, agricultural modernisation, improved revenue moblisation.
The economy is now on strong foundation and ready for a take off. He refers to improved macroeconomic indicators.
Not enough people are paying taxes and “too much informal” economic activities are taking place without record, he complains. Akufo-Addo touches on efforts to formalise economy such as National Digital Addressing System (NDAS), Paperless Port System.”
There are 1.2m verified addresses under the NDAS, a process which can drive down interest rates on loans because people’s location can be confirmed and are therefore less likely to run away from paying their loans.
Ban on illegal mining has not been lifted and will not be lifted. The ban that has been lifted is small-scale mining. “I cannot and will not give up the fight on illegal mining,” he assures.
Every constitutency is to get one ambulance next year as procurement processes are yet to be completed. Government will “launch the world’s largest and most advanced medical drones.”
It will reduce wastage in the system, employ 200 Ghanaians and will not be run on the public budget but on corporate support.
“I prefer medical drones flying than Guinea fowls flying to Burkina Faso,” he jabs.
He encoruages Ghanaians to venture into farming as his agricultural policies pay off in improved yields, jobs and profit. He highlights the Presidential Pitch where young people showcased thir businesses in hope of government support.
Free SHS gets all the headlines but I encourage you to look at other developments in the education sector, he says. There is a $1.5bn facility to build world class dormitories, classrooms and laboratories coming pending parliamentary approval.
He predicts quality products will emerge from Ghana’s schools as a result of his education policies.
Some 79 factories under his industrialisation plan coming.
The people seeking new regions are not seeking to secede from Ghana. They just want new administrative regions. He wants those seeking new regions to be left to try and meet the high constitutional requirements set out in a referendum.
He reiterates his commitment to stamp out vigilantism by his supporters that has plagued his government.
Government has increased funding for constitutional anti-corruption bodies. In 2017 a 12.8% increase in funding to some five such bodies like EOCO, CHRAJ.
He believes Ghanaians will hear from the Special Prosecutor in 2019. He mentions cases being prosecuted by the Attorney-General such as the trial of former COCOBOD CEO and former SSNIT CEO.
Banks collapse: He calls the Central bank decision to collapse seven weak local banks courageous. 70% of affected jobs within these 7 defunct banks were saved with the creation of the Consolidated Bank of Ghana.
Government has set up Special Investigative Team for possible prosecutions of officials responsible for dissipating depositors’ funds and public funds as well as breaking banking regulations.
Ghana’s banking sector will emerge stronger after his government’s reforms.
Ghana is existing its 17th IMF programme since independence in 2019, he notes. The most important lesson from the IMF assistance is that Ghana cannot afford to continue with fiscal indiscipline.
Laws will be passed to check fiscal irresponsibilty and a presidential advisory committee will help him with ideas to check fiscal slippages.
He ends, gets applause and gets ready for questions.
QUESTON AND ANSWERS TIME
Ebo Quansah: I want to know how the glossy picture of the economy is going to impact ordinary Ghanaians. He floats the idea of one district, one sports stadium.
Akufo-Addo: The fundamentals of the economy is what will attract investors who are assured fiscal discipline will protect their investments. He says we shouldn’t snare at this fundamentals of the economy.
It is not just language, it is about the development of the economy. He does not accept description of glossy picture. He gave facts, tell me if there are not true. He said he recognises salaries are too low which shows he is not interested in painting glossy pictures only recounting economic facts.
Food prices have gone down and parents don’t pay school fees at secondary school level.
If Ghanaians step back, they will find there is more money in their pockets than there has ever been. Reduced electricity prices bringing more reliefs to Ghanaians.
Question: How is the government managing the population?
President: Japanese population is declining. Accra used to be 250,000 people. Today it is 6 million. Process of modernisation such as girl child education slows down reproduction.
Question: How does he ensure his port reforms does not overburden Ghanaians with high cost of clearing goods.
President: Strong lobby to remove import duties like Dubai to generate massive imports and businesses. His government will take a decision on this idea. He says he is sensitive to import duties and impact on Ghanaians.
Kojo Acheampong, TV Africa: He wants a presidential assessment of the Fisheries minister
President: I think that was not kind to the lady. She is doing a difficult job. Fishermen are very conservative people and getting them to change habits is difficult. President is satisfied with her enthusiasm and courage.
Read Full Story
Facebook
Twitter
Pinterest
Instagram
Google+
YouTube
LinkedIn
RSS