Former Deputy Minister of Finance Kwaku Kwarteng has recently expressed deep concerns regarding the administration of Ghana since the country gained independence. He argues that while many nations have leaders who prioritize revenue generation to fuel national development, Ghana has unfortunately followed a different path, entrenching a cycle of borrowing and reckless spending.
Kwarteng highlights that the continuous reliance on loans has thwarted the potential for sustainable economic growth, leaving citizens yearning for the prosperity they deserve. He elucidates this point by stating, “It is not revenue that we have created that we misuse; we go to borrow. Post-independence, the style of government we have practiced has been to borrow and borrow, award contracts, and take kickbacks.” This pattern has not only destabilized the economy but has also created an environment that stifles entrepreneurship, which is vital for economic expansion and job creation.
The dire consequences of this mismanagement are particularly alarming for the youth of Ghana. Kwarteng reflects on the challenge of providing employment opportunities for the increasing number of university graduates, lamenting, “When I look at you, and I look at the youth that we are churning out of the universities, where are we going to find work for them?” He emphasizes that the current trajectory is unsustainable and must be addressed urgently.
Kwarteng stresses the necessity for a radical change in leadership, urging that Ghana requires bold leaders who can disrupt the prevalent status quo. He points out that many politicians who start with good intentions often capitulate to the corrupt interests that pervade government, leading to persistent economic challenges. To steer the country away from a potential crisis and ensure a brighter future for the next generations, Kwarteng calls for a dedicated commitment to change, urging the need for leaders who prioritize the nation’s growth over personal gain. In his view, the time has come for Ghana to be led by individuals willing to take decisive actions in pursuit of prosperity.
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