\n
Banking Consultant, Dr. Richmond Atuahene says the government can save the fast depreciation of Ghana\u2019s cedi by broadening the economy and investing in the private sector heavily for food production.<\/p>\n
Speaking on Morning Starr with Francis Abban, the Banking Consultant stated that the government can learn from Nigeria on how they have reduced rice importation among others.<\/p>\n
\u201cWe need a National Strategic Economic Diversification Policy, the reason I am saying this is that all the things you\u2019ve just said whether it\u2019s 1D1F, how are they going to improve the sector? Any time you create an enabling environment for the private sector to go into that, that is where you get results.<\/p>\n
\u201cUnfortunately, we turn to publicize it as if it\u2019s going to work until we come to the strategy that the Nigerians use to address the rice production, we won\u2019t get to where we are going. Because immediately the politicians come in we just make it look good,\u201d Mr. Atuahene stated.<\/p>\n
He also advised the government to invest in huge farms that are doing well in the country to boost the economy.<\/p>\n
\u201cSo our institutions like the Development Bank and Exim Bank are supposed to target these people (farmers) for future growth. Because Development Banks in other jurisdictions are used to support economic diversification. We create the institutions but the institutions do not function to support the economy,\u201d Dr. Atuahene lamented.<\/p>\n
The Bank Consultant further stated that successive governments have concentrated on cocoa production for years now and have failed to target other production like maize among others.<\/p>\n
\u201cHow haven\u2019t we talked about even going into maize, common maize, we haven\u2019t. We create institutions but instead of you getting to the private sector, identifying them, and giving them the task with low interest rates and good facilities, value chain issues. If we do that we stand a better chance.\u201d<\/p>\n
\u201cBut the way we are going, it is not integrated, it is becoming a piecemeal approach. We should have a national discourse on this economic diversification. Identify products with a competitive advantage maize, tomatoes, and onions all these can be produced without importation.<\/p>\n
\u201cNobody looks at it, so all that I am saying is that we should as a nation have a national discourse on this economic diversification. Nigeria used to import rice to about 10 to 20 billion but today it does a little to about 2 to 3 billion. We import rice every year 1.2 billion. If Nigeria can grow rice can\u2019t we grow rice in Ghana, why?\u201d he quizzed.<\/p>\n
Source:\u00a0<\/strong>starrfm.com.gh<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Banking Consultant, Dr. Richmond Atuahene says the government can save the fast depreciation of Ghana\u2019s cedi by broadening the economy and investing in the private sector heavily for food production. Speaking on Morning Starr with Francis Abban, the Banking Consultant stated that the government can learn from Nigeria on how they have reduced rice importation […]<\/p>\n","protected":false},"author":1,"featured_media":179775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-192764","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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