Ghana’s economy heading for a crash – Dalex CEO

General News of Thursday, 12 February 2015


Economy Sign

Chief Executive of Dalex Finance, Ken Thompson, says there are strong indications Ghana’s economy is heading towards further difficulties in the coming months.

“We are heading for a crash…if you are doing a business that will be earning you cedis, don’t take a dollar loan. It will wipe you out”, he said at a lecture organised by Chartered Institute of Marketing Ghana (CIMG).

According to him, figures produced by the Monetary Policy Committee indicate that Ghana is broke.

“If you earn a thousand cedis and you spend a thousand two hundred cedis you are broke. Ghana is broke”, he stressed.

Mr Thompson cited figures from the bank of Ghana that showed that government revenue was GH¢17billion as against an expenditure of GH¢24billion.

“We got to strive for operational efficiency in this country. We are very wasteful in this country. We are extremely wasteful in this country”, he said.