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Once I asked myself, "Why are the staff of the World Bank and the International Monetary Fund (IMF) so interested in the well-being of countries far from home and the headquarters of their employers? ? "
Before I could blink, the answer blinked: It's because the world is interconnected.
If these countries fail, the welfare of the entire world economy will be affected. If they succeed, the global economy will get better and everyone else else. from Africa to Asia to Asia and Europe, the situation will be better.
It is in this collective spirit that developed and advanced countries shared their expertise and wealth with less developed and underdeveloped countries in a way that has significantly improved their lives.
Back here, in Africa and Ghana in particular, the same mentality must prevail.
For countries to develop, improve and prosper, citizens must help each other, and public and private institutions must see themselves as part of a whole that works for the common good, the improvement of society. The collective good rather than the personal or collective interest must prevail.
Example of Dangote
Take for example Aliko Dangote, the Nigerian who is currently Africa's richest.
He did not just get there. It took work, insight, tenacity; and I am sure that many failures and lessons have been learned, but above all he has had the necessary support from his country and from successive governments, regardless of the party in power.
With a Bachelor of Arts / Science degree from Al-Azhar University, Dangote Group General Manager had a net real-time net worth of $ 10.4 billion as of April 9, 2019.
Forbes ranks him as the 136th richest man in the world and his conglomerate directly employs more than 30,000 Nigerians and people of other nationalities.
He is the 66th most powerful person in the world, according to Forbes. The sources of wealth for this 61-year-old man are cement, sugar and flour, although he is now turning to petrochemicals and the oil industry.
Home support
Dangote enjoys tremendous support from his country and his government. As a result, he is not afraid to undertake large ambitious projects in Nigeria.
This is reflected in his continued investment, expansion and the creation of opportunities and jobs for his Nigerian compatriots.
It is obvious that the billionaire does not harbor tangible fears because there is none. He is probably convinced that neither the All Progressive Party (APC) nor the Democratic People's Party (PDP), Nigerian version of Ghana's National Democratic Congress (NDC) and the New Patriotic Party (NPP) – only in terms of notoriety and not necessarily in terms of ideology – will not come after him and his huge investments, either for political reasons, or maliciously, or to rely on a non-existent crime.
With such certainty about the politico-commercial sphere, Dangote can easily accumulate billions of dollars of investment in Nigeria without spending sleepless nights.
Although I do not know the political affiliation and sympathy of Dangote, it seems that even if he had one, this obviously does not hinder his empire, which is in power when his business goes continue to prosper and the Government of the Federal Republic of Nigeria will benefit from the domestic investments of a purely private businessman.
Otherwise, Dangote would have chosen to invest a large part of its wealth in other countries, be it in the United States, the United Kingdom or China.
Government support
Research shows that all governments of Nigeria's fourth constitution, chaired by Presidents Olusegun Obasanjo (PDP), Umaru Yar Adua (PDP), Goodluck Jonathan (PDP) and Muhammadu Buhari (APC) have all created, One way or another, Dangote, one of theirs, to operate a successful business. This has made Nigeria self-sufficient in cement production and supply.
As a result, Nigeria will not need to import as much cement into the country with hard-earned dollars, which would have weakened the naira. In this way, the local currency receives some form of protection against international currencies, thanks to the support of the government.
From former President Olusegun Obasanjo to present-day Muhammadu Buhari, through Goodluck Jonathan, the Dangote Group maintains very good political relations with the state, thus contributing to the rise of the Company without upsetting its success. There are plenty of examples in the media. .
Politicize businesses
While there is always room for improvement, this cordiality between the private sector and the state insists that the party in power matters little. The Nigerian government – which it is headed by PDP or by APC – sees and understands the need to help its own businessmen survive so that local businessmen who have the As more successes are in place, the economy will improve.
A better Nigerian economy belongs to power, regardless of the party in power, because more jobs will be created in the private sector to absorb the many unemployed graduates and technically qualified young people who would have been attracted by social vices. There were no jobs to keep. to occupy them and concentrate.
In addition, more jobs means more money and this increases spending, which leads to increased economic growth. No matter how we see it, supporting ours produces fruits that impact lives and generations beyond us.
Other billionaires
The question to ask is whether Dangote's success would have been possible without state support in different ways.
Could this support of the state to businessmen be the reason why Nigeria has produced several billionaires such as Mike Adenuga, 65, Africa's second richest man with a net worth of 9 , $ 1 billion and currently the 156th richest man in the world?
Dangote and Adenuga are not the only billionaires in Nigeria. There is also Folorunsho Alakija, the 19th richest woman in Africa on Forbes list of African billionaires. Like its two other billionaires, Alakija enjoys the support of the state, which allows it to prosper.
Back here in Ghana, it is curious to ask if the situation is the same. Where are the billionaires of Ghana? Do we have the capacity to produce billionaires?
Are we willing to give businessmen the space and support they need to expand their business and allow them to invest freely in the country without worrying about which political party or government could pursue them without reason? In fact, is Ghana worth investing?
For Ghana to prosper, we need to answer these and many other pressing questions about the socio-political environment and its impact on business.
For Ghana to flourish, we must see ourselves as part of a whole, working to improve the conditions of our country and create prosperity for the future.
Understandably, we need to understand that when businesses succeed, the impact on citizens and the economy is not political and at a time when the private sector, not the state, is the engine of economic growth. We need to rethink our business in Ghana.
By: Seidu Agongo
The writer is a businessman and philanthropist
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