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Monday, July 8, 2019, Accra: As Ghana grapples with a faltering economy, Dalex Finance's president and CEO has urged economists to use vulgar / English common language in their public communications. This will enable them to contribute effectively to the development and conduct of public policies.
According to him, "… the use of meaningless and empty sentences to give the impression that people know that it is necessary to stop the speech …" and he also urged them to ".. to be pbadionate about the economy, as are the pastors collections "
Mr. Thompson speaking at a forum to launch "K. The B. Amissah Arthur Chair in Economics lamented the deterioration of the country's economy and regretted that economists have failed to effectively motivate policymakers to find solutions to the country's problems.
According to the chartered accountant, "the economic challenges facing Ghana are complex: high youth unemployment, high debt, low national income, employee compensation, interest expense and mandatory deductions averaging more 90% of the budgeted income of the country. This leaves very little money to invest.
He said universities should push for change and develop long-term relationships with policy makers, either directly or indirectly. These relationships should be based on mutual trust and respect.
Although civil servants and politicians sometimes lack specialized knowledge in their political fields, they react unfavorable, if at all, to the long technical and opaque documents produced by the universities. We have often tried to circumvent the need for a healthy commitment by encouraging universities to move to active politics.
There were several 'successes' pursuing this workaround including H.E Paa Kwesi Amissah-Arthur of Blessed Memory, Dr. Kwesi Botchway and Dr. Jones Ofori-Atta also of the blessed memory and others too numerous to mention. This path, despite the many successes, is not a sustainable way to achieve the goal of a policy that influences universities. Because the danger is that academics who become partisan politicians fall into the same trap as the decision makers they seek to influence.
In 1983, when Ghanaians were repatriated from Nigeria, our population was 14.2 million. about 30 million and from here 2050, in 31 years, it should be about 52m. And it's a country whose economy is based on the mining sector. Our main export product is gold, followed by oil and then cocoa. Golden Star Resources predicts that two of their mines in Ghana have an average remaining life of 5 years. So we have big problems to solve.
There are three main reasons why universities frequently fail to influence policy: inability to produce unambiguous clear results, reluctance to clearly define policy implications, difficulty in communicating results in an accessible way. At this point, decision makers are looking for their prophet or Alhaji.
ABOUT DALEX FINANCE:
Dalex Finance, established and licensed by the Bank of Ghana (BoG), is 100% owned and operated by Ghanaians. Over the past four years, the company's turnover has increased by more than 100% on a compound annual basis. Dalex Finance has an operation on a national scale. It employs more than 3,000 people and has more than 100 points of sale in all sixteen regions of the country.
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