He believes foreign investors in West Africa do not prefer Ghana as a regional base due to the economic instability witnessed under the current government.
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Ghana has lost pride as the best place to do business in West Africa — Mahama
Today, Ghana is not only one of the best places for doing business in West Africa, John Mahama, flagbearer of the National Democratic Congress (NDC) for the 2024 general elections has said.
John Mahama
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According to him, the New Patriotic Party (NPP) government led by President Nana Addo Dankwa Akufo-Addo collapsed banks due to personal vendetta.
He mentioned the increment in electricity and water tariffs, high inflation, and depreciation of the local currency as some factors that were hindering the growth of businesses adding that multinational companies were leaving the country, and others who have stayed have moved their headquarters to neighbouring countries.
Speaking at the Special Guest of Honour at the 7th Ghana CEOs summit, Mahama said the government's agreement with the Fund to increase electricity and water tariff quarterly brings an additional burden and let’s face it, as captains of the industry, we know that Ghana has lost pride as the best place to do business in West Africa.
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"The flowers that attracted you to set up your businesses in Ghana are gradually withering away. Many of your colleague's CEOs have left our shores and several others have moved their headquarters and staff to neighbouring countries," he said.
He also described Ghana's return to the International Monetary Fund (IMF) for a US$3 billion extended credit facility arrangement as the butt of jokes.
He stated that Ghana seeking a bailout from the IMF is a clear indication that President Nana Addo Dankwa Akufo-Addo's mantra 'Ghana Beyond Aid Agenda' is mere rhetoric with no action.
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