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Finance Minister claims economy is back on track …But the ordinary Ghanaians say impact is not being felt in their pockets

There are two schools of thought about a recent statement at­tributed to the Finance Minis­ter, Ken Ofori-Atta with regards to the economy which he claimed had taken shape following the injection of the first tranche of loans from the International Monetary Fund (IMF) to revamp Ghana’s ailing economy and bring it back on track.

While the government spearheaded by the Finance Minister, who is the exchequer and economic and finan­cial advisor to the President, aided by IMF officials believe that there are concrete signs of improvement in the economy which are beginning to show or manifest, other school of thought particularly the ordinary Ghanaians believe that the government is being evasive, insincere and hypocritical with the truth. They feel that they are being short-changed and deceived by the government and that nothing really is happening because the signs of economic growth are not being felt in their lives, let alone in their pockets. Their thinking was that all the factors that led the country to the IMF to seek economic bailout still persist and that nothing has changed, claiming that the value is still the same.

ECONOMIC WATCHERS AND THINK TANKS PROJECTIONS

The economic watchers and think tanks have projected a slowdown in the economy to 1.5% in 2023 and remain depressed in 2024 at 2.8%, but it is expected to recover to its potential growth by 2025. Some of the economic challenges facing Gha­na are unemployment, corruption, inconsistent economic policies, poor human capital development, poor health system, crime and terrorism. Our biggest problem is a debt crisis, high inflation and the devaluation of the local currency, the cedi. These are the challenges that led the coun­try to conclude an agreement with the IMF for a bailout.

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The Government of Ghana recent­ly reached a Staff Level Agreement (SLA) with the IMF for a first review of the IMF-supported Post COVID-19 Programme for Economic Growth (PC-PEG). That consensus came after five months of negotiations and paved the way for further progress toward approval of the first review by the IMF Executive Board scheduled for November 2023.

FINANCE MINISTER’S SPEECH

Speaking to the press after that meeting, the Finance Minister Ken Ofori-Atta, expressed optimism about the economic outlook saying: “The economy is responding positively and strongly to the news of govern­ment and IMF reaching an SLA for the first review, and we are eager to leverage this momentum to the very moment when the IMF Execu­tive Board approved the first review in November”. He said the SLA was an indicative of the strong perfor­mance in meeting end-June 2023 performance indicators – including six quantitative performance criteria and three indicative targets as well as three structural benchmarks. These achievements he said, underscored Ghana’s commitment to economic recovery and stability.

Hear the Minister further: “Year-to-date data reflect significant improve­ments in economic performance. The gross domestic product has rebound­ed strongly, averaging 3.2 per cent in the first two quarters of 2023. Infla­tion on the other hand has been on a relatively downward trend, dropping to 40.1 per cent in August 2023 while the cedi has remained stable with a cumulative depreciation of about 23.5 per cent year-to-date. The fiscal front shows a surplus of about GHc2billion in H1 2023, exceeding the target”.

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EMPTY PAPER TALK

Indeed, on paper, these are fine development, especially for the economists since they understand the issue and the corresponding economic language better and therefore can digest and interpret it in the best manner they can. But on a more seri­ous note, the majority of Ghanaians who assess and weigh the perfor­mance of the economy with their living conditions, will not side with the government assessment because they don’t feel the transformation of the economy in their pockets since it is not visible. It is the same old story as they find it very difficult to make ends meet. They are still buying food items and other consumables at exor­bitant prices, cost of transportation is still high, fuel prices keep escalat­ing, payment of school fees for their children and wards has become so difficult, marriages are fallen apart and on rocks due to financial mis­understandings from couples and a whole lot of economic challenges.

EXPECTATIONS FROM GHANAIANS

Just as the government assured the nation that going to the IMF for economic bailout would solve most of these economic difficulties and improved the living conditions of the people within the shortest possible time, Ghanaians were therefore of the high hopes and expectation that, it would not be long for them to see signs of improvement in their living conditions. However, six months into the programme, nothing is showing and also, they are not feeling the impact of the IMF bailout.

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Those so-called economic jargons such as gross domestic product, high inflation, macro and micro economic developments among others, which are difficult to be understood and assimilated and are always foisted on the ordinary Ghanaians make them angry and agitated, because they do not make sense to them in any way. As for the IMF praising Ghana for managing the funds well, that is normal because the benefit they will derive from Ghana in the long run.

Right now, what Ghanaians are expecting from government that will let them feel comfortable with their lives is to lay bare in simple terms the true facts relating to the current situation with the IMF bailout and the corresponding benefits that will reflect their lifestyles. Ghanaians are now discerning and wide awake and, therefore they will not sit down and allow falsehood to be peddled or forced down their throats to swal­low. They will rather prefer that the government keep mute on issues concerning the economy instead of throwing dust into their eyes through deceit and falsehood. Ghanaians are noted to be magicians when it comes to how they manage themselves and they will like to remain as such.

Contact email/WhatsApp of author: ataani2000@yahoo.com 0277753946/0248933366

By Charles Neequaye

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The increasing entrepreneurship among the Ghanaian diaspora in Finland

It seems more Ghanaian migrants in Finland are going into entrepreneurship or self-employment, and today I focus on the increas­ing economic activities of some people in the Ghanaian migrant community.

This is important because it shows the positive side of some Ghanaian individual migrants or groups (or their companies) who are accom­plishing or trying to accom­plish much for their wellbe­ing in Finland.

Some time ago, I wrote on the same topic, and today, I continue on that tangent but with a closer look on the expanding entrepreneurial endeavours among Ghanaian migrants in Finland. In this write up, I concentrate on the rise of business ventures that Ghanaian migrants in Finland usually engage in as part of their economic activi­ties in Finland.

Such ventures include hair salons or barbering shops, grocery shops or shop keep­ing generally, etc. which are operated in some Finnish cit­ies, especially in the Helsinki capital area (such as Espoo, Helsinki, and Vantaa).

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Existing research studies show that migrants may start their own companies based on their entrepreneurial as­pirations and/or necessity as it may be difficult for them to find suitable jobs matching their education. Other stud­ies point out that migrant entrepreneurs also create their own jobs and tend to employ other migrants if the business is successful, thus helping to reduce the unem­ployment burden in the host country. Whatever the case, I think both scenarios go well with Ghanaian migrants in Finland.

Hair salons and barbering shops

I previously wrote that bar­bering shops and salons are becoming increasingly pop­ular and are patronised by other Ghanaian or African mi­grants in Finland, especially women. Recent new barber­ing shops and hairdressing salons opened by Ghanaian and other African migrants to add to the number of exist­ing ones attests to this point. Other Ghanaian/African migrant entrepreneurs are into African clothing shops or dress-making/fashion indus­try. The artefacts or clothing shops usually sell fabrics brought from Ghana and other parts of Africa.

Aside this, some Ghanaians have established cleaning companies or a business in housing apartment rentals.

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Shop keeping and African foodstuffs

Ghanaian migrants/entre­preneurs living in Finland are involved in shop keeping (or buying and selling) ventures.

There are also African restaurants that serve Afri­can dishes. The cooking and serving of “Ghanaian food” is encouraged at events organ­ised by Ghanaian groups and individuals. It is therefore not surprising that the dishes sold in restaurants are highly patronised too.

The selling of Ghanaian or African food and artefacts has been common among the Ghanaian migrants in Finland. One can easily buy Ghanaian foodstuffs such as yams, garri, and others imported from Ghana and other African countries. I think this could make things easier should anyone set up a Ghanaian/African restaurant.

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The IT sector/Online business

The information technol­ogy (IT) sector is another area that is gaining interest among the Ghanaian mi­grant entrepreneurs. Many potential entrepreneurs are considering going into the IT start-ups and entrepreneur­ship.

I do not have much informa­tion about what the situation is but I would not be sur­prised to hear one day that some of them have actually taken off and are doing well. It could also be that some businesses are mostly going to operate online.

As I mentioned some time ago, many Ghanaian migrants in Finland have acquired more expertise and resources (academically, economically, technically, technologically, etc.), and the IT sector looks to be very promising for ven­turing into entrepreneurship.

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Other African migrants may currently be operating or have previously owned media (including videography) or newspaper/magazine outlets, particularly in the capital city of Helsinki.

Opportunities for integration

These days the question whether the business op­portunities is a positive sign of integration of Ghanaian migrants in Finland keeps coming to my mind.

Could it also offer opportuni­ties for them to team up with Finnish companies for busi­ness and investment oppor­tunities either in Ghana or in Finland? Maybe!

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As I keep pointing out, Fin­land encourages migrants’ participation in the planning of issues concerning the mi­grants themselves as one of the efficient ways to improve their inclusion in the Finnish society.

There is an enabling envi­ronment created within the Finnish business and entre­preneurship sector for people who are business-minded, including migrants. Thank you!

perpetual.crentsil@yahoo. com

By Perpetual Crentsil

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The Prophet part 9

Antubam followed her. She indicated for him to sit down. She was about to call Mary when she emerged from the hall, followed by Suzzie.

“It’s good you are both here,” she said. “There’s something I need to tell all three of you. Mr Antubam, I will not waste time on your so-called interest in me, because you and I are two very different people with absolutely nothing in common. The main point I want to make now is that your so-called church is nothing but a fraud with which you are deceiving people who may be ignorant today, but are still precious in God’s sight.

Apart from deceiving them and enriching yourself, you are using God’s name to commit fraud. Today you may be enjoying money, food, alcohol and women, but you will certainly pay a high price for it, unless of course you are willing to repent now. My concern is for my two sisters.

I am demanding that they cut all links with you, now. No visits to your home or church, and no telephone calls. I have told them to give you back every penny you have given them. I am prepared to find money to pay whatever they owe you. That is all I have to say.”

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Antubam rose, furious, and point­ed his finger at her.

“Let me warn you, Betty. Yes, I am interested in you, and I am ready to take care of all your needs, even to rent a house and buy a car for you. But I will not allow you to insult me. You better withdraw those words you have used against me now, or I will deal with you very soon.”

“Don’t make me laugh, Antubam. You? Deal with me? Why don’t you deal with me now? You have to wait till you go to the shrine and beg the fetish priest to deal with me? See how miserable you are? I dare you! Leave my house now, and go to that miserable fetish priest and get him to rain down all his powers on me!”

“You will see!” Antubam declared as he moved towards his car. He hesitated for a moment to see if Mary and Suzzie would walk him to the car, but noticing that they were firmly glued to their seats he got in the car and drove home.

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He got out of the car and went straight to the drinks cupboard, poured himself a full glass of whisky and gulped down half of it. He sat down and called his batman, Kofi Takyi.

“Which two women did you call today?”

“Aggie, one of the new members is in. She is having supper in the guest room. Priscilla will be coming around 9pm.”

“Good work, Kofi. Now, get me my food.” After wolfing down the fufu and light soup, he gulped down the other half of the whisky and stretched out on the sofa and began a smooth, rhythmic snore. Priscilla entered, walked over and, shaking her head, strolled to the bedroom.

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Betty came from the shower to find the two friends still glued to their seats.

“Well? Aren’t you two going to say anything?”

“I have something to say,” Mary said. “I don’t understand you, Betty. You want us to cut all links with Antubam, and to refund all the money he has given us. Now, when we do that, do we come back here tomorrow, sit and stare at the sky and hope and pray that our holy sister (Betty) will bring us manna to eat?”

“Such a stupid statement must not come from you, Mary. What hap­pened to your WASSCE qualifications and your intelligence? Here’s some free advice. Get on the internet. Submit applications for university admission. I am prepared to pay for the two of you. And from tomorrow, start studying the Bible seriously, with the intention of doing what it says. I assure you, there are solu­tions in the Bible for every problem you face today, and will face tomor­row. All you need, Mary, is to use your God-given intelligence. How could you stoop so low as to take money from a common thief and drunkard like Antubam?”

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Suzzie rose quietly and held Betty’s hand. “Do you know, Betty? Until a few minutes ago I did not know that you cared so much about me that you consider me your sister. I promise you. We will do as you say. Mary, we will go and collect the rent money, add it to all the money we have taken, and pay it into the ac­count. From tomorrow, Betty, Mary and I will follow you wherever you go’. With tears streaming down her cheeks she walked away.”

Antubam got up with a start. He checked the time on his phone. It was midnight. He sat up, and was moving towards the bedroom when he heard the voices.

“Is anything the matter?” he said. “You have never come here at this time. I thought you only come at dawn.”

“We are always here. We only contact you when we have to. We have to warn you. That girl is trouble. If you don’t leave her alone there will be problems.”

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“I don’t understand. I can’t leave her alone. I must sleep with her as many times as possible, conquer her. Why can’t you get her for me?”

“She is firmly buried in the book. You are sleeping with two women every night, and there are many more available in the church. Leave that girl alone?”

“Do you fear her? What book is that? I don’t know why…..” before he could finish the sentence sever­al flashes of pain like a horsewhip on fire cut across his back, and he yelled, bringing Priscilla and Aggie from their rooms.

“What is it, Antubam?” Priscilla asked.

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“Er…er. I saw a revelation about a church member who is in some trou­ble. I need to pray for her. Please go back to the rooms. I will join you soon.” Aggie went to the room, but Priscilla lingered.

“Antubam, why don’t you tell me what the problem is so that I can help you? It appears you have just received some spiritual lashes. Are you being punished for something you have done?”

“Perhaps your husband is punish­ing me for sleeping with you.”

“Do you dare insult me, Antubam. You will certainly regret speaking to me like this?”

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“You have a loud mouth, but your only abilities in life, Priscilla, are sex and extorting money. I will come and sleep with you shortly, and give you money in the morning. Now leave!” She slipped out quietly, and the voices resumed.

“Next time you talk like that you will receive a much bigger punish­ment. We are only trying to protect you. You are planning to go to the shrine tomorrow morning to invoke curses on the girl. Be careful. Our master may grant your wish if you press him, but you may regret it.”

“I am sorry if I sound ungrateful, but I just can’t resist that girl. She is so beautiful and sexy. Moreover she has insulted me, and I must punish her.”

“Remember we warned you. You are already in danger. One of your competitors is asking questions about you, and thinking about the possibility of dealing with you. Je­hoshaphat Agyiri. Everyone calls him Gidigidi.”

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“I have heard of him. But what have I done?”

“He belongs to us. We work for him. He wants to check if you will threaten him. He can’t do you any harm as long as you use the stick. But your main problem will come from the girl.”

“Thank you for your help. As for the girl, please talk to Nana Broni for me. I am ready to pay anything for the pleasure of catching that girl in my bed and disciplining her.”

“Antubam,” Priscilla started, “are you going to apologise for the way you spoke to me? And are you going to apologise for bringing another woman here even though I am here with you?”

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“Are you going to collect money from me tomorrow morning, Priscil­la?”

“Get into bed, you idiot. I wonder why those women in the church can­not see you for the cheap fraudster you really are.”

Antubam took off at dawn, and arrived at the shrine before five.

“You are welcome, Antubam. We know, yet we still ask, as the saying goes. What brings you here?”

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“You already know, Okomfo. I must have the girl at all costs. I am prepared to pay anything.”

“I have already consulted Nana Ama Kokoben. I have prepared a fire for her. She will be here any minute, with her mirrors. What you are asking is beyond me, but she is willing to help you. Ah, here she is.”

The small woman sat on a stool next to Okomfo, and stared into Antubam’s eyes for several minutes.

“I will try to help you, but the effort will come from you.” They moved over to the fire, and she placed the two mirrors over the fire.”

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“Look! You will see the girl. Take this needle. When she appears in the mirror, pierce her eyes with the needle. By the time you get back to Tafo she will be at your house. From today, she will follow you just as a dog follows its master.”

By Ekow de Heer

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