President John Dramani
Mahama has received a strong challenge from Prince Kofi Amoabeng, the visionary
creator of the old UT Bank. Speaking at the Fourth First National Bank (FNB)
Head of State Invitational Golf Tournament, Amoabeng made the case that Ghana
needs to implement a radical, nonpartisan national plan that aims to
intentionally produce ten Ghanaian billionaires.
This idea transcends
conventional economic theory. Amoabeng believes that focused government backing
for a limited group of skilled and honest entrepreneurs is the key to
increasing national prosperity. These high-achieving business executives would
act as strong economic pillars for the nation, drastically helping to eradicate
poverty and project Ghana's economic influence around the world.
Amoabeng
emphasized that this support must be given solely on the basis of compliance
and merit, without regard to political allegiance. He asked the President to go
beyond party lines—whether NDC or any other—to locate true business people.
"My
suggestion is that, apart from helping the poor people with employment
arrangements, we should try to create at least 10 millionaires or billionaires
in Ghana—deliberately," he said.
He outlined a clear
responsibility for the government: to identify young, honest persons who pay
their taxes and actively back them with grants, contracts, and essential
support. These companies would be able to grow, compete internationally, and
proudly represent the nation with this strategic support. The
"pull-him-down syndrome" that frequently keeps local success stories
from realizing their full potential must end, according to Amoabeng.
The former banker also
lauded the administration for establishing a "renewed national sense of
hope" and for improvements in key economic indices including inflation and
the performance of the Ghana Cedi. "When you accept you are poor, when
rich people are sleeping late, you do not sleep," he said, virtually
endorsing the 24-hour economy proposal. That’s really my understanding of it."
However, Amoabeng
pointed out two main hurdles to Ghana's economic acceleration: infrastructure
and the legal system. He was a major supporter of the proposed commercial
project between Accra and Kumasi, pointing out that the current seven-hour road
trip results in high logistics expenses that reduce business productivity.
He
also demanded that the judiciary undergo immediate reform. He provided a
personal scenario where a debt recovery case took an incredible eight years to
conclude despite clear collateral. He claimed that without fixing chronic legal
delays, the broader economic transformation agenda simply cannot have its
maximum impact.
In
conclusion, Amoabeng thinks Ghana may achieve really sustained and robust
economic growth by addressing these structural issues in conjunction with a
dedicated effort to support high-potential local entrepreneurs.
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