IEA’s Kwakye Links Ghana’s Economic Management to Manchester United’s
IEA’s Kwakye draws parallels: Ghana’s economic management akin to Manchester United’s strategy. Explore the intriguing comparison.
Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), has remarked that Ghana’s economy is being mismanaged similarly to how Manchester United, the English Premier League giant, is being poorly overseen, resulting in their dismal performance.
He believes that the leaders of both Ghana’s economy and Manchester United lack the ability to effectively tackle their respective challenges. Dr. Kwakye expressed this sentiment on his X platform, stating that both sets of managers appear clueless in dealing with the issues they face, despite the solutions not being overly complicated.Dr. Kwakye highlighted several promises made by political leaders, including pledges for economic transformation, streamlined government, fiscal responsibility, and indigenous ownership of natural resources.
Specifically, ahead of the general elections, the flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has vowed to achieve 100% Ghanaian ownership of mineral resources if elected. This promise reflects his concern that the existing structure of Ghana’s mining industry gives the impression that Ghanaians lack complete ownership of their nation’s minerals.
Dr. John Kwakye, however, noted that the presidential candidates are formulating promising policies in anticipation of the 2024 general elections.
Bawumia articulated this pledge during the start of his inaugural regional tour, which began in the Eastern Region. On April 29, 2024, he engaged in discussions with religious leaders, emphasizing his commitment to reshaping the approach to natural resource management. He acknowledged that historically, Ghana has not fully capitalized on the benefits of its natural resources, particularly gold, which has been extracted from the country since the days of the Portuguese in the 15th century.
Bawumia expressed his determination to shift this paradigm by placing a greater emphasis on Ghanaian ownership of its natural resources, aiming to ensure that the country derives maximum benefits from them.Former President John Dramani Mahama, the counterpart of Dr. Bawumia in the National Democratic Congress (NDC), has also made promises ahead of the 2024 election. Among them is the commitment to lead his administration with no more than 60 ministers and deputies if he is re-elected as president.
Dr. Kwakye acknowledges that these policies sound promising, but he questions whether they will actually deliver the desired outcomes if the candidates are elected into office.In a post on his X platform, Dr. Kwakye noted, “The presidential candidates seem to be proposing good policies: economic transformation, lean government, fiscal discipline, simplified and low taxes, natural resource ownership and value-addition, maximizing the use of our resources and capacities, etc. But, will they deliver?” This reflects his skepticism about whether these policies will be effectively implemented and yield the intended results if the candidates are elected.
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