APPENDIX TO MY ARTICLE ” GHANA IS NO. 1 IN WEST AFRICA TO DO BUSINESS – AND WHAT NOW?”

TO FINALISE THE BRIEF OVERVIEW ABOUT GHANA’S POSITION IN THE WORLD OF BUSINESS, I’D LIKE TO ADD A LITTLE COMPARISON BETWEEN WEST AFRICA AND SOME EAST AFRICAN NATIONS.
FOR DECADES, IT WAS CLEAR THAT WEST AFRICA HAD AN ECONOMICAL ADVANTAGE OVER EAST AFRICA. BUT AT LEAST IN THE LAST DECADE OR SO, SOME EAST AFRICAN NATIONS, ESPECIALLY KENYA AND RWANDA, HAVE CLOSED THE GAP AND, IN MANY CASES, EVEN OVERTAKEN MOST WEST AFRICAN COUNTRIES. Continue reading “APPENDIX TO MY ARTICLE ” GHANA IS NO. 1 IN WEST AFRICA TO DO BUSINESS – AND WHAT NOW?””

GHANA IS NO. 1 IN WEST AFRICA TO DO BUSINESS – AND WHAT NOW? (PART 2)

AFTER EXAMINING GHANA’S POSITION IN THE WORLD BANK REPORT ON EASE TO DO BUSINESS 2017, AND PUTTING IT IN THE RIGHT CONTEXT RELATIVE TO SOME OTHER AFRICAN COUNTRIES, WE WILL NOW CHECK ON THE VARIOUS CATEGORIES THAT LED TO THE RANK GHANA OCCUPIED IN THE REPORT (1).
LET’S START WITH THE BEST POSITION. Continue reading “GHANA IS NO. 1 IN WEST AFRICA TO DO BUSINESS – AND WHAT NOW? (PART 2)”

GHANA IS NO.1 IN WESTAFRICA TO DO BUSINESS – AND NOW WHAT?

THIS MORNING, THE NEWSPAPERS – ESPECIALLY THOSE ONES WHICH ARE NEAR TO THE GOVENMENT – WERE FULL OF HEADLINES LIKE “GHANA BEST COUNTRY TO DO BUSINESS IN WEST AFRICA – WORLD BANK” AND THINGS LIKE THAT. THESE HEADLINES INSPIRED ME TO LOOK FOR THE WORLD BANK REPORT (1) AND LOOK WHAT IS BEHIND THESE HEADLINES. THE FIRAST QUESTION I ASKED MYSELF WHEN I TOOK THE FIRST GLANCE AT THE NUMEROUS FIGURES IN THE REPORT ABOUT GHANA, ITS WEST AFRICAN NEIGHBOURS, AND OTHER AFRICAN COUNTRIES WAS: “WHY DOES THIS COUNTRY ALWAYS COMPARES ITSELF ALWAYS WITH COUNTRIES THAT ARE WORSE, AND NOT WITH THOSE THAT ARE BETTER, IN ORDER TO GO FORWARD? Continue reading “GHANA IS NO.1 IN WESTAFRICA TO DO BUSINESS – AND NOW WHAT?”

EVERYWHERE YOU GO, THE POWER IS TO YOU – BUT NOT IN THE ASHANTI REGION OF GHANA

WHAT DO YOU DO, IF YOU HAVE TO MAKE AN IMPORTANT PHONE CALL, AND SUDDENLY, THERE IS NO ONE TO BE HEARD AT THE OTHER END? OR YOU HAVE TO DOWNLOAD AN IMPORTANT DOCUMENT FROM THE INTERNET, AND AFTER 90% ARE DOWNLOADED, YOU ARE INFORMED THAT THE DOWNLOAD HAS BEEN INTERRUPTED? WHO INTERRUPTED THE DOWNLOAD? SURELY NOT YOU; NO, IT WAS EITHER MTN OR VODAFONE (I DON’T HAVE ANY EXPERIENCE WITH OTHER TELECOMMUNICATION CONMANIES, BUT THERE ARE SURELY NOT BIG DIFFERENCES). Continue reading “EVERYWHERE YOU GO, THE POWER IS TO YOU – BUT NOT IN THE ASHANTI REGION OF GHANA”

DOES THE NDC ADVERTISEMENT REFLECT REALITY ON THE GROUND?

JUST THIS MORNING I SAW AN NDC ELECTION CAMPAIGN ADVERTISEMENT IN WHICH THEY SHOW AN “ULTRAMODERN”(WHENEVER I HEAR OR USE THE WORD “ULTRAMODERN”, I AM REMINDED OF A SERMON BY PASTOR MENSAH-OTABIL, IN WHICH HE SAID THAT THERE IS NOTHING “ULTRAMODERN” HERE IN GHANA) MARKET, PROBABLY SITUATED IN ACCRA, AND SAID TO HAVE BEEN BUILT BY THIS GOVERNMENT.
LET’S ASSUME THAT THIS MARKET REALLY EXISTS, AND THAT IS HAS REALLY BEEN BUILT BY THIS GOVERNMENT. Continue reading “DOES THE NDC ADVERTISEMENT REFLECT REALITY ON THE GROUND?”

GHANA – JOB CREATION OR JOB LOSSES?

IN SEVERAL NEWSPAPERS THERE IS A HEADLINE TODAY THAT THE PRESIDENT DECLARED THERE WOULD BE NO JOB CUTS IN THE PUBLIC SECTOR DESPITE THE NEGOTIATIONS WITH THE INTERNATIONAL MONETARY FUND (IMF). WHAT SHOULD WE THINK ABOUT THIS DECLARATION? ONE MIGHT SAY THAT IF A POLITICIAN SAYS SOMETHING WON’T HAPPEN, THAT THERE IS A BIG CHANCE THAT IT MIGHT HAPPEN. BUT DON’T LET US GO SO FAR; LET’S KEEP TO THE FACTS: IN THE IMF COUNTRY REPORT GHANA 16-321, THERE IS NOTHING SAID ABOUT THE GOVERNMENT CUTTING JOBS OR THE IMF FORCING THE GOVERNMENT TO CUT JOBS.
BUT… Continue reading “GHANA – JOB CREATION OR JOB LOSSES?”

FINANCE AND INVESTMENT TIP NO. 3

AS IN EVERY WEEK, I ALSO PUBLISH MY FINANCE AND INVESTMENT TIP THIS WEEK. HERE IS MY THIRD ONE:

DON’T PUT “ALL YOUR EGGS IN ONE BASKET”; DIVERSIFY YOUR PORTFOLIO.

IF YOU INVEST ALL YOUR MONEY IN ONE INVESTMENT OPPORTUNITY, THE CHANCES ARE BIG THAT YOU MIGHT LOSE ALL YOUR MONEY;
DIVERSIFY YOUR INVESTMENT. Continue reading “FINANCE AND INVESTMENT TIP NO. 3”

SUMMARY OF FINANCTAL AND ECONOMICAL DATA – GHANA SEPTEMBER 2016 (PART 2: INTERBANK EXCHANGE RATES, COMMODITY PRICES, EXTERNAL SECTOR)

THIS IS THE CONTINUATION OF MY ARTICLE PUBLISHED ON 4TH OF OCTOBER, 2016. WE WILL DEAL WITH THE INTERBANK EXCHANGE RATE, THE COMMODITY PRICES, AND THE EXTERNAL SECTOR. Continue reading “SUMMARY OF FINANCTAL AND ECONOMICAL DATA – GHANA SEPTEMBER 2016 (PART 2: INTERBANK EXCHANGE RATES, COMMODITY PRICES, EXTERNAL SECTOR)”

IMF AND GHANA ( REVIEW OF THE COUNTRY REPORT GHANA 16-321, PART 1)

WHEN YOU READ THE COUNTRY REPORT GHANA 16-321, ISSUED BY THE INTERNATIONAL MONETARY FUND ON 3RD OCTOBER, 2016, YOU REALLY DON’T KNOW WHERE TO START TO COMMENT.
LET’S START FROM THE RESULT: IT SEEMS THAT THE IMF WANTED TO – AND WANTS TO – IMPLEMENT THE SAME KIND OF AUSTERITY MEASURES ON GHJANA THAT THEY PUT ON GREECE, WITH THE ONLY DIFFERENCE THAT THE REACTION IN GREECE – MAINLY FROM THE GRASSROOTS – WAS MUCH HARSHER THEN IT WAS – AND IS – IN GHANA.

IN MY ANALYSIS, I WILL MAINLY FOCUS ON THE TMF STAFF REPORT WHICH WAS COMPLETED MIDDLE OF SEPTEMBER, 2016, AND ON THE DEBT SUSTAINABILITY ANALYSIS. Continue reading “IMF AND GHANA ( REVIEW OF THE COUNTRY REPORT GHANA 16-321, PART 1)”