The managers of Ghana’s economy are like the managers of Manchester United – IEA’s Kwakye

John Kwakye (Left) is Director of Research at the IEA and President Akufo-Addo (Right)

The Director of Research at the Institute of Economic Affairs ((IEA), Dr John Kwakye, has said that Ghana’s economy is being managed badly as how the English Premier League giant, Manchester United is being poorly handled, leading to their abysmal performance.

In his view, the managers of Ghana’s economy and Manchester United are clueless in addressing their challenges.

In a post on his X platform, Dr Kwakye said “It seems to me that the managers of Ghana’s economy are like the managers of Manchester United. Both seem clueless in addressing the problems confronting them, although the solutions are far from rocket science.”

Dr John Kwakye however observed that the presidential candidates are making good policies ahead of the 2024 general elections.

He noted that they are promising economic transformation, lean government, fiscal discipline, and natural resource ownership, among other things.

Ahead of the general elections, the flagbearer of the New Patriotic Party (NPP) Dr. Mahamudu Bawumia, has promised to ensure 100% Ghanaian ownership of mineral resources if elected into power.

This commitment stems from his observation that the current framework of Ghana’s mining sector creates the perception that Ghanaians do not have full ownership of the country’s minerals.

Bawumia articulated this promise during his inaugural regional tour, commencing in the Eastern Region, where he engaged in discussions with religious leaders on April 29, 2024.

“I am going to refocus our paradigm for natural resource management. For the most part, Ghana has not maximised the benefits of our natural resources.

“Since the days of the Portuguese in the 15th century, gold has always been taken out of Ghana. We haven’t benefitted much from our natural resources; I am going to change that paradigm. I am going to bring a bigger focus on ownership of our natural resources. 

“It is as if right now we don’t own our natural resources. I believe that if we do the exploration; and we are going to empower our universities and the geological service department to do the exploration, once we explore that we have seven gold belts that we haven’t yet discovered. Once we have explored and we know that the gold is here, the new policy is going be that the ownership of those resources will be one hundred per cent owned by Ghanaians,” he stated. 

Dr Bawumia’s counterpart in the National Democratic Congress (NDC), Former President John Dramani Mahama also promised, among other things,  to run his administration with not more than 60 ministers and deputies if re-elected as president in 2024.

“I shall assemble and operate the leanest but most efficient government under our fourth republic. We will reduce, significantly, the size of the government. As I announced in my Ghana We Want address at UPSA late last year, I will form a government of less than sixty (60) ministers and deputy ministers of state,” he said when he launched his campaign in Ho on Thursday, March 2, 2023.

Dr Kwakye says that these policies are good however he wondered whether they would deliver if elected.

He said “The presidential candidates seem to be proposing good policies: economic transformation, lean Govt, fiscal discipline, simplified and low taxes, natural resource ownership and value-addition, maximising the use of our resources and capacities, etc. But, will they deliver?”