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Call For Reparations A Valid Demand For Justice – President Akufo-Addo

“Let me reiterate that the call for reparations is not a plea for alms, but a valid demand for justice. If reparations can rightfully be paid to victims and descendants of the victims of the Holocaust, so can reparations also be paid to the descendants of the victims of the Slave Trade. It has been four hundred (400) years, and we want closure to this tragedy.”

These were the words of the President of the Republic, Nana Addo Dankwa Akufo-Addo, when he delivered an address at the opening of the Accra Reparations Summit, held at the Kempinski Hotel, on Tuesday, 14th November 2023.

Delivering his address at the event, President Akufo-Addo stated that the Trans-Atlantic Slave Trade, which begun with some twenty (20) slaves from West Africa being forcibly sent in 1619 to the United States of America, was devastating to the continent and to the African Diaspora, as it stifled the economic, cultural and psychological progress of Africa.

“But what we do know is that the African peoples built and contributed to the successes of the Americas, and even though they did not willingly make the journeys in the two hundred (200) years of the slave trade, once there, they were and have been an integral part of the success in their new homes, even though they have not benefitted nearly as much as they should have from their toil,” he said

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The President noted, however, that reparations for Africa and the African diaspora are long overdue, with the question of reparations becoming a debate only when it comes to Africa and Africans.

“When the British ended slavery, all the owners of enslaved Africans received reparations to the tune of twenty million pounds sterling, the equivalent today of twenty billion pounds sterling, but enslaved Africans themselves did not receive a penny. Likewise in the United States, owners of slaves received three hundred dollars for every slave they owned; the slaves themselves received nothing,” he said.

President Akufo-Addo continued, “Take the case of Haiti, which had to pay reparations amounting to twenty-one billion dollars ($21 billion) to French slaveholders in 1825 for the victory of the great Haitian Revolution, the first in the Americas and the Caribbean which freed the slaves. It was a payment made under duress that impoverished Haiti throughout the 19th century till today.”

The President also indicated that native Americans have received and continue to receive reparations; Japanese-American families, who were incarcerated in internment camps in America during World War II, received reparations.

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He added that Jewish people, six million of whom perished in the concentration camps of Hitlerite Germany, received reparations, including homeland grants and support.

“So, it is time for Africa, twenty million of whose sons and daughters had their freedoms curtailed and sold into slavery, also to receive reparations. No amount of money can restore the damage caused by the Trans-Atlantic Slave Trade and its consequences, which have spanned many centuries. Surely, this is a matter that the world must confront, and can no longer ignore,” he indicated.

And, even before these discussions on reparations conclude, President Akufo-Addo noted that the entire continent of Africa deserves a formal apology from the European nations involved in the slave trade for the crimes and damage it has caused to the population, psyche, image and character of the African the world over.

Whilst at it, the President pointed out that the subject of restitutions must go along with the matter of reparations.

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“The initiative for the return and restitution of African cultural properties to the continent must also be a major issue of concern for all Africans. We must call for the return of African cultural properties that were illegally and shamelessly transported from the continent,” he said.

The President stated that he was aware of the efforts made by countries such as Senegal, Nigeria and Benin in successfully regaining possession of some of their cultural properties that were illegally moved out of their territories.

Ghana, he added, has also successfully recovered some of its stolen cultural properties and relics, pointing to the collaboration of Government and elders of Ahanta to return the severed head of Nana Badu II, who was executed in 1838.

Other success stories, he stated, include the return of some family collections of the Ashanti Royal Family and an Asante Stool in 1985, by the British Government.

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“The return and restitution of African cultural properties to the continent will help Africans, and, in particular, the descendants of the communities, groups, and individuals who created and produced these cultural properties, to reconnect to their history, to their pioneers, to their knowledge and their skills,” the President added.

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 GEXIM deepens relations with US EXIM Bank

A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.   

The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.

The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.

Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).  

Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.

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The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.

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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama

President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.

Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.

He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.

“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.

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President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.

He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.

He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.

“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.

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Source: Myjoyonline.com

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