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Sam Jonah: Down the up escalator – Reflections on Ghana’s future by a senior citizen

23 April 2021……Second, we must re-evaluate the structure of our economy. No country has attained the height of development unless the major drivers of the economy are owned and controlled largely by the citizenry. 

For example, according to PwC, as of June 2019, only nine (9) out of 23 Class 1 licensed banks had majority local ownership with the rest being majority foreign-owned. In the mining sector, Ghana has more than 20 mining companies at various stages of operation in the country.

As far as am aware no Ghanaian business man or woman has 5% of the ownership in any of these companies. The situation is not different from what pertains to the oil sector. I note with some satisfaction the efforts of the government to empowering Ghanaians in the economy….

“So, we actually started the business with $4 million in 1990, and it has now blossomed. We now have a total asset base of $16 billion”. Founder and Chairman of Zenith Bank Plc, Mr. Jim Ovia in 2019

If you had the opportunity to share in the Dream of Mr Jim Ovia, you would now be a Share Partner of a US$16 billion business, the largest Bank in Nigeria

Move from remittances to investment – Mahama urges Ghanaians abroad

President Mahama, who described the diaspora as the 17th region of Ghana, said the government was working on a framework to create safe investment vehicles for Ghanaians abroad.

“I’m saying that let’s move from just remittances into investment.

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There’s a lot that is happening in Ghana, and so yes, it’s good to remit back home, but it’s also good to put a little aside and invest in something.

“We’re working on the framework to look at where Ghanaians can put their money safely in an investment fund in Ghana and reap profits from it.

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