Statesman, Sam Esson Jonah has advised governing administration to empower the citizenry to get interested in possession about strategic and critical sectors of the region.
The seasoned businessman spelled out that the phenomenon exactly where foreign nationals handle a huge chunk of industries regionally leaves substantially to be preferred as significantly as Ghana’s economic composition is concerned.
Talking at a public lecture with Rotarians in Accra on Thursday, he lamented the inability of the nation to boast of enough Ghanaian possession in the conglomerates dictating the tempo in top-tier spots these kinds of as banking, oil & fuel, mining, marketplace between some others.
In his speech themed ‘Down the Up Escalator: Reflections on Ghana’s Foreseeable future by a Senior Citizen,’ Sir Sam Jonah lamented that the significant drivers of the Ghanaian financial state “are often predominantly foreign-owned, and Ghanaians have minor in these sectors.”
Even though acknowledging some effort on the portion of governing administration, the statesman thinks there stays a extensive way to go.
Citing teachable shortfalls in Malaysia’s ‘Bumiputra’ policies and South Africa’s Black Financial Empowerment Programme, Mr Jonah advocated aware makes an attempt to rid these federal government attempts of selfish passions in its bid to acquire management of area sources.
In accordance to him, “even nevertheless these programmes were being properly-intended, their implementation gave place for political patronage and clientelism main to the repercussions mentioned previously mentioned.”
In empowering locals in this direction, Sam Jonah believes ills these types of as “political patronage or ‘create, loot and share’ schemes disguised as investments” need to be eschewed.
“Tribal and ethnocentric considerations, family affiliation and friendships should not be the defining routes to achieve enterprise opportunities,” he included.
He referred to as for a re-evaluation of the country’s economy adding that “no place has attained the top of advancement unless of course the main motorists of the financial system are owned and controlled mostly by the citizenry.”