Aliko Dangote, Africa’s biggest business magnate, has praised President John Dramani Mahama for his rapid turnaround of Ghana’s economy.
He cited that Ghana’s economic situation had previously been difficult, but credited President John Mahama with taking what he described as the right steps rather than relying on extraordinary measures.
Dangote argued that the developments under President Mahama demonstrated the relationship between trust and investment.
He noted that investors are more willing to commit resources when confidence is restored in an economy.
According to Dangote, President Mahama did not do any magic, but he did the right things.
Speaking at the “Accra Reset: Full Circle – Making Global Development Work Again” event in New York, held on the sidelines of the 81st United Nations General Assembly, Aliko Dangote stated, “President Mahama turned around the economy of Ghana in a very short time. This has actually shown that money follows trust.
It wasn’t a very good case, but when he came in, he didn’t do any magic; he is not a magician, but he did the right things, and people really have a lot of trust in him; that is why Ghana’s economy turned around. His Excellency, I must really congratulate you”.
Meanwhile, Alan Kyerematen, the leader and founder of the United Party, has said the John Mahama-led National Democratic Congress (NDC) government has done well in stabilising Ghana’s economy.
According to Alan Kyerematen, despite the Mahama government stabilising Ghana’s economy, the key test will be whether the gains can be sustained.
Alan Kyerematen argued that improvements in key economic indicators should not be treated as the final measure of success.
He stressed that sustaining the gains over the long term would be a more important test of the government’s economic management.
Speaking on The Point of View on Channel One TV on Monday, September 21, the United Party leader stated, “If you ask me about my own assessment of what the NDC and President John Dramani Mahama have done, I would say, generally, they have done well, particularly stabilising the macroeconomy. The question we need to ask is whether they can sustain the progress that has been made.
“I think that is a very important material question. Success is good and is very important, but the real litmus test of success is when you are able to sustain it. So the question we need to ask can they sustain what they have done?”
He further highlighted that the NDC’s two years of economic gains are not enough to establish stability, detailing that a much longer period of growth is needed to support such a conclusion.
The UP noted that administrations, whether led by the National Democratic Congress (NDC) or the New Patriotic Party (NPP), often celebrate improvements in economic performance without giving sufficient attention to whether those gains can be sustained.
Alan added, “I think part of the challenge of governments, whether it’s NDC or NPP, they are too quick to be praising themselves about what they’ve done. But I’m saying that you can’t call, you can’t describe two years of macro performance as stability. You need a longer period of sustained growth”.
“So 6%, it’s good, but I’m saying that it’s a trend, but you cannot… So we need 10 years of at least 8% to 10% growth,” he said.
Watch the video below:
LIVE | UN General Assembly: President Mahama turned around the economy of Ghana in a very short time. This has actually shown that money follows trust. It wasn't a very good case, but when he came in, he didn't do any magic, but he did the right things – Africa's Richest Man,… pic.twitter.com/CPBLFHN83h
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