Ghana’s annual inflation has hit a record 37.2% in September amidst high cost of living while transport fares are expected to go up by 40% from 24 October 2022.
The International Monetary Fund (IMF) has started talks with Ghana over a US$3 billion deal aimed at reviving the economy.
However, the Ghanaian actor KSM believes the Finance Minister is not competent enough to steer Ghana out of the economic woes despite the global financial crises emanating out of the pandemic and the war in Ukraine.
“PLEASE do him [Akufo-Addo] and GH a favor and respectfully resign for a COMPETENT FINANCIAL MANAGER to take charge,” KSM tweeted on Saturday.
He said as soon as the minister bows out it will boost investor confidence in Ghana’s capital market.
“I am sure that the financial markets will react POSITIVELY to the news,” KSM added.
Advice to Ken Ofori-Atta.— Kwaku Sintim-Misa (@KSM_Kwaku_Misa) October 22, 2022
Bra Ken, it is OBVIOUS the President CANNOT and WILL NOT fire you. PLEASE do him and GH a favor and respectfully resign for a COMPETENT FINANCIAL MANGER to take charge. I am sure that the financial markets will react POSITIVELY to the news. 🙏🏿
Meanwhile, TV personality and manager of GHOne TV Nana Aba Anamoah has also written an article calling on Ofori-Atta to resign.
“Thanks to you, millions of Ghanaians and business owners have been robbed of honest gain for honest work,” Anamoah wrote in an article published on Starrfm.com.gh. “Your incompetence has seen the value of our work depreciate at an alarming rate.”
Below is the full statement:
Dear Ken Ofori-Atta,
On any day I’d like to see through this Friday with excitement, do well with my commitments and settle in for a weekend of relaxation with full knowledge that all is good.
But you have decided to undo all of that.
Thanks to you, millions of Ghanaians and business owners have been robbed of honest gain for honest work.
Your incompetence has seen the value of our work depreciate at an alarming rate.
Before this week, depreciation was over 40 per cent and inflation also close to that same percentile.
A cursory glance at everything and it’s another reason to be angry because you have willfully provoked us with your abysmal management.
At the National Forum on the Economy at the Accra International Conference Centre in 2017, you were unambiguous that you will work tirelessly to ensure all Ghanaian businesses flourish courtesy your competent leadership. I believed you. So did many Ghanaians.
Six years down the line your fruits are bitter and eery.
Before you gasp and reach for an explanation, don’t stretch and touch the COVID pandemic plus the Ukraine Russia crisis as a wall for balance and your cushion for solace. You lot sound like a broken record.
The world suffered same but your imprudent borrowing taste and wasteful use of those flammable funds has led us to this point.
The economic heat has broken the thermometer this week. The heartbeat has a new competitor in the Ghana Cedi. It is beating faster than the throb of the spongy organ. And you unashamedly ask us not to panic? Wow!
You may be in the company of finance ministers at the IMF Spring Meetings and looking for that “miracle” with your negotiations. But the ‘Ghanaian’ brother you sat next to, Kwesi Kwarteng, has fallen on his own sword for introducing policies which could have further crippled the British economy. He took the early steps to a political fiasco before his boss and now former PM, Liz Truss followed suit.
You on the other hand against all the clear public wails of the majority of your people continue to hold on to a job you’ve woefully failed at and lead a process you don’t believe in (going to the IMF) after failing to properly introduce a new tax line, E Levy and borrowing us out of the international financial market.
Hmmm. Maybe a part of you wants to leave and your cousin is backing you to the hilt on the altar of loyalty.
But for God’s sake, spare the entire nation this prolonged spectacle of failure and let go of the burning rod.
If you were leading a private company managing private funds with this current performance you probably would have walked. In fact, you would have been fired. This time it’s public funds and the stretch of the impact is much more.
Alex Vignet’s words ring true that “resignation is the courage of Christian sorrow”. All Ghanaians are weeping and as a devout believer, wouldn’t you rather resign and save us all from further ignominy?
Citizen Nana Aba Anamoah
Source: Daily Mail GH