After carefully examining the messages of all the presidential aspirants, I have concluded that Mr. Alan Kyerematen‘s Great Transformational Plan is a well-thought-out economic strategy that can unlock the economic potential of our nation.
The economic milieu of many developing countries is characterized by a dependence on the export of raw materials and the import of manufactured goods, a dynamic that perpetuates a cycle of poverty and underdevelopment.
This model, where the prices of exports and imports are dictated by Western markets, leaves countries like Ghana struggling to balance domestic budgets and finance infrastructure, often resorting to heavy borrowing. Multilateral agencies such as the IMF and the World Bank, along with bilateral borrowing and capital markets, become the sources of these funds, leading to high and unsustainable debt repayment obligations.
Despite Ghana’s rich natural resources, including bauxite, gold, oil, gas, cocoa, and timber, these assets have not significantly alleviated poverty, as explained by Margaret Thatcher, who highlighted that countries like Japan, Switzerland, South Korea, and Singapore, despite lacking natural resources, have thriving economies due to their enterprise economies.
In Ghana, the main political parties, the NPP and the NDC, led by Bawumia and Mahama, respectively, seem to lack a comprehensive understanding and diagnosis of the economic malaise. Their proposed solutions, such as digitalization from Bawumia and a 24-hour economy from Mahama, fall short of addressing the core issue.
Thatcher’s analysis underscores that the only viable solution lies in transforming the economy into an enterprise economy, akin to the models seen in the Scandinavian countries’ social market economies or the centrally managed enterprise economies of China and Russia.
Given this context, the critical question for Ghanaian voters is which presidential candidate possesses the vision, capability, and track record to create an enterprise economy for Ghana. Among the leading candidates, Alan Kyerematen stands out as the most promising figure.
His extensive experience and achievements, particularly as the chief architect of the African Continental Free Trade Area (AFCFTA), position him uniquely to drive the necessary economic transformation.
Alan Kyerematen’s proposed ACE (Agenda for Creating Employment) formula, as encapsulated in his Ghana Transformation Plan (GTP), offers a clear roadmap to revitalizing Ghana’s economy.
From what I have learnt from his GTP, his vision focuses on leveraging Ghana’s strategic advantages to foster agricultural and industrial revolution, create jobs, and build a sustainable, self-reliant economy. This approach aligns with the principles of an enterprise economy, emphasizing innovation, competitiveness, and efficient resource utilization.
In conclusion, Ghana stands at a crossroads, with the upcoming elections presenting a pivotal opportunity to choose a leader capable of navigating the nation towards prosperity.
Alan Kyerematen’s proven competence, vision, and commitment to economic transformation make him the ideal candidate to unlock Ghana’s economic potential. His leadership promises a future where Ghana can break free from the cycle of dependency and debt, fostering an enterprise economy that benefits all Ghanaians.
Alex Kwesi Nyarko (PhD)
Economist and Development Consultant)
Jacksonville, Florida, USA
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