Pulse.com.gh logo

Economy of Ghana Foreigners can’t dominate our economy – Nana Addo

To prevent foreigners from dominating the Ghanaian economy President Akufo-Addo has set up a 14-member Committee to enable the full implementation of the “Ghana Beyond Aid” agenda.

  • Published:

President Akufo- Addo has said that Ghana’s economy cannot be dominated by foreign companies and investors only.

However, Ghana’s economy is currently dominated by foreigners.

To curb this situation President Akufo-Addo has set up a 14-member Committee to enable the full implementation of the “Ghana Beyond Aid” agenda.

READ ALSO: Mahama shades Bawumia over Cedi depreciation

The committee is expected to develop policies and programmes that will ensure that Ghana does not depend on aid.

The Committee which is chaired by Senior Minister, Yaw Osafo Marfo is expected to present a written document that will be sent to Parliament for passage.

President Akufo Addo says Ghana’s dependence on aid is hindering the country’s development hence the bold step.

READ ALSO: Report indicates that 73% of Ghanaians work in vulnerable conditions

“If we are able to draw up a charter which set out timelines for us to able to achieve budgetary self-sufficiency, to be able to take the step will ensure that we have genuine control over our economy. Most of the chronical elements of our national economy are in foreign hands. The mines are in foreign hands; the oil company are in foreign hands, the banks are in foreign. All the key elements of our national economy are dominated by foreigners, that cannot be right.”

President Nana Akufo-Addo earlier announced the creation of the committee on May Day at May Day celebration at the Baba Yara Sports Stadium in Kumasi.

The Committee will have ten members comprising three members each from the Government (Ministries of Finance, Planning and Employment and Labour Relations), Organised Labour, and the Private Enterprise Federation.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Breaking Otabil finally breaks silence on banking controversiesbullet
2 Capital Bank Collapse Here are the roles of a non-executive board chairbullet
3 Bank Collapse Capital Bank Board misused GHC 610 million from BoG –...bullet
4 IMANI Boss Otabil may have been ‘misled’ in Capital Bank collapse...bullet
5 Investment banks in Ghana Top 5 investment banks in Ghana and...bullet
6 Banks Collapse Accounts of defunct Royal Bank managers frozenbullet
7 IMANI Boss Attacking Otabil over Capital Bank collapse...bullet
8 Savannah Ponzi Scheme MTN to pay GHS12.2m Savannah 'Ponzi'...bullet
9 Collapse Bank Here’s what former staffs of Capital Bank...bullet
10 Banking Issues "Collapsed banks didn't fail; they were...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet
2 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Money Alert Meet Africa's richest womanbullet
5 Support Finance minister buys Kantanka carbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 New Phones Nokia MWC 2018 Event in 5 minutesbullet
10 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet