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Wednesday, July 17, 2024

Ghana has lost ground in economic transformation

The founder of the African Center for Economic Transformation, Dr. Kingsley Y. Amoako, has stated that Ghana has lost its footing in economic transformation.

He made this remark during the Ghana Compact Citizens Convention at the University of Ghana, where leaders gathered to discuss a comprehensive vision for the country’s political and economic future.

The Citizens’ Convention is part of the Ghana Compact process, an initiative that seeks to promote a consultative dialogue among all stakeholders to craft a vision for Ghana—a Compact for Ghana’s Political and Economic Transformation.

The primary objective of this convention is to finalise the provisions of a ‘Social Contract’—an agreement between Ghana’s leaders and its citizens outlining the country’s collective aspirations and goals from now until 2050.

This contract will define the responsibilities and commitments of both ordinary citizens and the country’s leadership to ensure these goals are achieved.

In his address,  Dr. Amoako, disclosed that Ghana’s economy has lost its momentum in economic transformation.

He emphasised that despite some growth in the economic sector, Ghana’s economy remains vulnerable to crises and has not significantly improved the livelihoods of its citizens.

Speaking to the media, the General Secretary of the Trade Union Congress, Yaw Baah, highlighted that the compact will serve as a term of reference for electing incoming leaders to ensure accountability in the country.

Meanwhile, the Director-General of the National Development Planning Commission, Kodjo Mensah Abrampah, revealed plans to restructure the National Development Planning Committee to better fulfil its key functions and receive feedback from citizens.

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