Ghana is no longer attractive to foreign investors – Adongo

General News on Thursday, April 4, 2019

Source: clbadfmonline.com

2019-04-04

Isaac Adongo, MP for Bolgatanga Central, said Ghana may not be among the top 10 investment destinations in Africa because of the government's poor policy.

According to Mr Adongo, Ghana figures in the latest ranking of investment destinations in Africa published by Rand Merchant Bank (RMB) of South Africa.

Comparing the rankings with what had been achieved under the mandate of former President John Dramani Mahama, Mr. Adongo blamed the New Patriotic Party (NPP) government for delaying the growth of the economic environment.

Speaking at a public lecture on Ghana's economy in Accra on Thursday, April 4, 2019, Mr. Adongo said: "During the tireless efforts of His Excellency John Dramani Mahama, the least that we have ever had is a fourth and in 2018 he became fifth. Your Excellency, at one point, we were third on the list of destinations to invest in Africa. Thanks to your tireless efforts to improve the economic environment by using our resources to improve our infrastructure and competitiveness, Ghana was perceived as a safe haven. for investment. Today, as we speak, we have dropped from the fifth to the ninth, we risk falling among the top 10 investment destinations in Africa. "

He also criticized Vice President Mahamudu Bawumia for singing "this kind of shame" instead of focusing on policies to reverse the trend.

Mr. Adongo said the RMB had indicated that "an effective infrastructure is the backbone to mobilize investment and create sustainable opportunities for the people," a policy that former President Mahama pursued but " which we made fun of ".

For him, Mr. Mahama was justified by the findings of the RMB.

Mr. Adongo said the RMB was of the view that, even though Ghana's competing neighbors, such as Côte d'Ivoire, were improving in terms of economic and business environment, "we have stagnated and declined."