Ghanaian business mogul Oscar Yao Doe has written an open letter to President Nana Akufo-Addo.
Oscar Yao Doe questions the affairs of different businesses owned by the State, he argued, even though it is not a bad idea for the country to own most of the companies, it is a big risk because of the political structures in Ghana.
What happens to the companies owned by the State should a new President be elected to take over, especially with the fact that most of the collapsed financial institutions being taking over by the State.
What if a newly elected President decide to hand over the companies back to the owners? This and many more questions were asked by Oscar Yao Doe in his open letter to President Nana Akufo-Addo.
Read his full post below.
Open Letter To The President Of The Republic Of Ghana H.E @Nakufoaddo Greetings Mr President, It Seems We Are Encouraging & Perhaps Deepening The Era Of State Controlled Economy. Even Though It’s Not Bad Idea To Strengthen State-Owned Companies, But The Question Is Can They Stand The Test Of Time Under Your Successors? The Only Few Biggest Companies In Ghana Today Are All Government Owned,This Is Alarming Because There Is No Guarantee If Your Successors Will Follow Your Direction?
Mr President Recently The Financial Sector Was Added To This State-Owned Company Syndrome In 2017/18, Many Ghanaian Owned Banks Were Taking Away And Turned Into State-Owned Banks Namely: Consolidated Bank Ghana (Cbg). State-Owned Gcb Also Benefited.
After Ghana Government Took Away Those Banks From Their Original Owners, Are We Saying The Owners Should Go Empty Handed To Die? Something Must Be Done.
The State Is Now The Sole Owner 100% Shareholder Of Consolidated Bank Ghana(Cbg) So It’s Okay? End Of Story?
Mr President Consider The Owners Who Work Harder Through Many Years Of Sacrifices To Build Those Companies, They Deserved Compassion.
Mr President, Please In Case Your Successors Decided To Return All Those Banks Back To Their Original Ghanaian Owners The Day After He Or She Is Sworn In As New President? What Will Be Your Take?
In Case Your Successors Decided To Sell All State-Owned Companies & Businesses To Ghanaians? What Will Be Your Take On That?
In Case Your Successors Decided To Payout Heavy Compensation From State Coffers To All The Affected Ghanaian Owned Banks & Businesses That Were Forced To Collapsed? What Will Be Your Take On That?
In Case Your Successors Decided To Prosecute All The Officials Who Were Involved In The Decision Making Leading To The Collapsed Of All The Ghanaian Owned Banks? What Will Be Your Take On That As Well?
Mr President, I Strongly Believe Above Scenarios Are Very Likely.
Mr President If There Is A Way Out To Grant Compassion, Forgiveness To Return All Those Banks Back To Their Original Owners (Regardless) That Would Be Awesome, And Decisive.
It’s Doable! Your Decision To Act Is What Matters. History Has Thought Us.