We must lay the right foundation for post-COVID economy -Asantehene


At the back of the uncertainties which lies ahead of the post-pandemic era, for global economies, the Asantehene Otumfuo Osei Tutu II has charged the country to begin to put in place the appropriate structures to be able to mitigate the associated risks, of the pandemic.

In reference to the call by the World Bank Group President, David Malpass, the Asantehene reechoed that countries like Ghana should seize the opportunity to lay the foundations for a durable, equitable, and sustainable economy.

But to do this, he emphasized that the country will have to vaccinate itself against the addiction of the debilitating political coloring “which prevents us from collaborating on matters of national interest.

“It should enable us then to see the challenges of laying the foundation for the post-COVID economy to be a matter of national interest calling for the collaborations of our abler minds.”

The Asantehene underscored that the decisions and investments made from now will determine the future of the country in the next ten years. “In these instances, it is best that we look beyond our political base and give ourselves the assurance of the expressed support of informed opinions.”

Speaking at the closing ceremony of the two-day annual conference of the Institute of Chartered Accountants Ghana (ICA), in Kumasi, held under the theme “Business continuity and sustainability: the role of technology,” Otumfuo Osei Tutu II opined that “the business environment is changing and we must learn to change with it.”

The accounting profession he observed has made some great strides in its transformation, making use of technology.

Given the enormous advantages presented by technology, particularly also at this time of the pandemic, he said “We need to abreast with technology because the business environment is changing and we must learn to change along with it.”

He challenged the ICAG to endeavour to join forces with other professional bodies to create a new environment that encourages brainstorming on national discourse, to help tackle the critical issues ahead without the abrasive political scoring.

The Asantehene cautioned there are no easy choices for Ghana and for any country in Africa, towards ensuring a sound economic recovery, in the post-pandemic era.

On the continental decision to locate the headquarters of the African Continental Free Trade Area (AfCFTA) in the country, he said it is an opportunity of a lifetime. He was hopeful that the business community upon the advice of chartered accountants would step up to reap the benefits that the massive global market presents.

Otumfuo Osei Tutu II also acknowledged the immeasurable contribution of some of the pioneering chartered accountants like Dr. Kwame Donkor Fordjour and Harry Doudo. The tireless contribution of some of these professionals among others helped to shape the foundation of the sovereign economy of Ghana.

While recognizing the individual exploits of these veteran professionals, the Asantehene noted that collectively, the ICAG has yet to find its voice to make an impact on national affairs. “The sort of voice that could have been taken into account in consideration of the monumental challenges that faces the country today.”

Furthermore, he expressed worry over the absence of a platform that allows the learned institutions like the ICAG to be fully engaged in the process of national policy formulation.”

The President of ICAG, Prof. Williams Abayaawien Atuilik, assured the Asantehene of the readiness to adopt the advice given. He further challenged fellows of ICAG to endeavour to use technology as a tool to ensure that the various businesses they identify with sustainable.

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