One of my professors in the USA sent me an article titled “Crisis and Bailout: The Tortuous Cycle Stalking Nations in Debt” authored by Patricia Cohen of The New York Times, a prominent global economy reporter based in London, on September 18, 2023. The catalyst for my article was a conversation I had with one of my professors in the United States.
My professor expressed initial astonishment at the challenges faced by Ghana, given the country’s natural resources and high reputation for intelligence and competence among its citizens. This dialogue served as the inspiration for me to write this piece, titled ‘Strengthening Ghana’s Economic Resilience: Has the NPP Government Overlooked the Role of the Citizen Sector?’
I acknowledged the Late Daasebra Oti Boateng, the former Omanhene of New Juabeng of which I had the privilege of serving him as his consultant until his passing. Daasebra Oti Boateng was renowned for his award-winning book titled ‘Implementing Root-Based Development: Fostering Community Connections for Progress in the New Juaben State of Ghana’.
In this seminal work, he detailed the dynamic institutional framework that underpins the Citizen Sector which comprises traditional leaders, community and citizens partnership, and the selection mechanism of members to these institutions which combines the time-tested Akan Agyinatuo (Consensus Building) selection system with the orthodox statistical sampling techniques.
It is therefore important to understand that, based on the nature and norms of Ghana, there is no and I repeated any prescriptions that will ever work for Ghana including the current bailout process by the IMF. It is crucial to recognize that, given Ghana’s unique nature and cultural norms, there exists no one-size-fits-all economic solution till the Country is carefully scrutinized and implementing policies in the context of our Citizen Sector.
Otherwise, there is a potential to go to the IMF on multiple occasions in the near future. Our economy’s complexity and the standardized policies of the IMF and World Bank often do not fully consider Ghana’s distinctive economic, social, and political landscape. The imposition of a uniform approach to economic reforms, coupled with stringent policy conditions, has resulted in adverse social consequences, such as restricted access to essential services and heightened poverty levels.
Remarkably, successive administrations, primarily those from the NPP and NDC, have consistently overlooked the citizen sector. This neglect has disrupted the continuity of economic policies and reforms, presenting a substantial challenge to achieving sustainable economic progress. It is high time to contemplate the emergence of proactive, individual leaders capable of uniting competent Presidents or maybe Individual presidents with the necessary skills to manage the nation’s economy and enhance its prospects.
It’s worth noting that some individuals, while educated, may fall into what Professor Dr. Lawyer Nana Oppong aptly terms ‘Intellectual Poverty’, as outlined in his book on nachimatics. Rather than solely relying on external assistance, we should concentrate on empowering the citizen sector to dream, envision, and actively pursue their aspirations.
Only by awakening their creativity and instilling a sense of self-worth can we pave the path toward a brighter future for Ghana and also build economic resilience. The reality is that economic growth and development have increasingly become synonymous with Westernization.
In broader terms, the perception is that “white” or “obroni” symbolizes the dominance of superpowers like North America, Japan, and Europe. The core issue facing Ghana isn’t a scarcity of resources to foster a resilient economy but a deficiency of imagination, which has been perpetuated by peculiar cultural influences from the West best described as a creative and intellectual Poverty. This Intellectual poverty runs through our political leadership.
Rather than proactively working on bolstering the economy, our political leaders tend to wait for external assistance, in the form of various adjustment programs. Unfortunately, these programs may not fully address the vulnerability of resource-dependent economies to external shocks. Three major issues that have held Ghana back include failed institutions, ineffective leadership, and pervasive corruption and this is the albatross holding Ghana.
Economics is not an enigma; it revolves around how individuals in the citizen sector make a living through various exchanges. However, in the Western world, economics often translates into an unending pursuit of “more” – more extraction and exportation of raw materials like minerals, oil, timber, and cash crops. The consequence of this relentless pursuit is evident in increased deforestation, extensive drilling, rampant illegal mining (galamsey), greater interference with land, air, and seas, and the pollution of delicate ecosystems.
In this relentless quest for “more,” humans with fewer technological capacities tend to be marginalized, as machinery is deemed more efficient in the pursuit of profit. Ideally, individuals should possess the capacity, either individually or collectively, to industrialize, produce diverse goods, compete on a global scale, and accumulate wealth to eradicate poverty.
However, the prescriptions imposed by the IMF and the World Bank have hindered this potential among emerging economies. These prescriptions have replaced our traditional ways of doing business, guided by culture and norms, with a Westernized economic model.
Unfortunately, these prescriptions often lead to the marginalization and economic disempowerment of a significant portion of the population, as Western communities define economic success or failure for an unnecessarily large number of people who are able or not able to make one square meal a day. This state of affairs has contributed to a high prevalence of poverty in Ghana, affecting not only the less educated but also many with university and postgraduate degrees.
The average Ghanaian often grapples with intellectual and creative stagnation, as the educational sector tends to produce individuals capable of repeating established ideas rather than fostering innovative thinking. It is disheartening that, except for our first president Dr Kwame Nkrumah, successive leaders have predominantly focused on educational access rather than nurturing the transformation of individuals. Free education, while noble, often falls short in substance.
Consequently, from professors to doctors to highly educated individuals, there is a tendency to engage in shallow, disjointed, and fragmented discussions when it comes to economic matters. Some of these academicians, as highlighted by Professor Lawyer Nana Oppong, are confined to a world of fallacies, characterized by narrow worldviews primarily focused on immediate needs, individualism, and self-centeredness.
They are detached from abstract thinking, global considerations, future planning, philosophical insights, the pursuit of knowledge, and the broader realms of current science and technology. This intellectual poverty extends into the political arena, where this academician is often swayed by assumptions that have no bearing on the citizen’s sector, beliefs, wishes, and simplistic explanations.
Unfortunately, even those with intellectual prowess who enter politics tend to be disillusioned, leading to a dearth of passion, an absence of an appetite for knowledge, and a loss of pride and dedication to the sacred duty of achievement. To me the path of building resilient economy involves a reevaluation of economic prescriptions, a reconnection with cultural values, and a renewed commitment to nurturing innovative thinkers and leaders who can navigate the complex realities of the 21st century.
Citizen Sector
So, why should political leaders turn to the Citizen Sector to foster a robust economy? To begin with, it’s crucial to understand that the impact of intellectual limitations (poverty) is the hindrance to harnessing the immense potential of countless individuals. This predicament sentences millions to avoidable hardships and adverse conditions today, tomorrow, and in the future unless decisive action is taken to reverse it permanently.
Political leaders should acknowledge the citizen sector as a valuable ally in the pursuit of economic resilience. By nurturing cooperation and synergy between government institutions and civil society organizations, leaders can tap into the collective strength of their society to confront economic challenges, advance sustainable growth, and secure the welfare of their citizens. This inclusive approach promises more effective and enduring economic resilience.
The citizen sector boasts a multitude of advantages. It encompasses diverse expertise, intimate local knowledge, innovative problem-solving capabilities, a commitment to inclusivity and social justice, deep community connections, and a track record of mobilizing citizens for collective action. This is what we are used to as Ghanaians and that is why the first president Dr Nkrumah established cooperative Banks etc. We work better in community settings and it is important we follow such dynamics in growing our economy.
Collaborating with the citizen sector can bolster accountability and transparency in economic governance, with these organizations often serving as vigilant overseers, holding governments accountable for their actions, and advocating for transparency in resource allocation and financial management.
Moreover, in times of economic crises or natural disasters ( Like the June 03. Disaster), the citizen sector plays a pivotal role in providing immediate relief and contributing to long-term recovery efforts. Their presence and resources complement government responses, making the country more resilient to shocks and adversities.
In light of these considerations, it is imperative for governments to recognize that building economic resilience hinges on partnering with the citizen sector. Such collaboration is instrumental in fostering public support and trust for government economic initiatives. When citizens witness their government working hand-in-hand with organizations they trust, it fosters greater buy-in and significantly enhances the likelihood of successful policy implementation.
In conclusion, the citizen sector is the linchpin of Ghana’s economic resilience. Political leaders must embrace this sector as a strategic ally to cultivate public trust, bolster accountability, and ensure the effective implementation of economic policies. By harnessing the collective strength of their society, Ghana can adeptly navigate economic challenges, promote sustainable growth, and safeguard the well-being of its citizens. It is high time for a paradigm shift, acknowledging that the citizen sector is not merely a partner but an indispensable cornerstone on the path to a resilient economy.
>>>the writer is a seasoned InvestBankprenuer boasting 29 years of experience in academic, corporate, and agribusiness domains. With key positions at UBA Ghana, SIC Financial Services, Empretec, and the Swiss International Finance Group, his global financial outlook is evident. A pioneer in risk management, compliance, and corporate strategy, he has significantly contributed to Ghanaian entities and spearheaded initiatives in Venture Capital, business/financial reengineering, and fundraising. Driven by a passion for capacity development, he has provided consultancy services for both local and multinational organizations, showcasing his multifaceted expertise in the financial and business realms. [email protected]
