The Nation is Not Making Any Progress -Kofi Amoabeng

by: Masahudu Ankiilu Kunateh

Despite the praises Ghana continues to receive from local and foreign financial and economic experts, as well as the two Breton Wood institutions -the World Bank and the International Monetary Fund (IMF), of being the fastest growing economy in Africa, the Chief Executive Officer (CEO) of the UT Holdings, Mr. Prince Kofi Amoabeng says Ghana is not making any progress.

This, he noted, contradicted statements by politicians, both present and past, about growth and development, especially in macro-economic indices of the country. Mr. Amoabeng made these assertions at a two-day Annual Strategic Marketing Conference organized by the Chartered Institute of Marketing Ghana (CIMG) in Accra, over the weekend.

The well attended conference was under the theme -’Entrepreneurial Marketing, a Tool for Repositioning,’ offered the CIMG the opportunity to impact its professional development programme on the working class of Ghana.

Mr. Amoabeng, who spoke on the topic: ‘The UT’s of the World -Lessons from the World’s Great Entrepreneurs,’ narrated several negative situations in Ghana, to buttress his statements that “Ghana is going backwards”.

According to the business magnate, Ghana in the first Republic had a Growth Domestic Product (GDP) per capita of $400, Fifty years on Ghana has a little over $600.00. In 1983, the cedi to dollar rate was ¢10.75 cedi, today without re-denomination it is ¢16,000 to a dollar, Mr. Amoabeng added.

Furthermore, the UT Holdings CEO indicated that at independence Ghana had a population of seven million, same as Switzerland. Fifty years on Ghana is over 24 million population, with Switzerland’s eight million.

In his words, as if that is not enough, our major development projects, institutions like the Black Star line, Ghana Airways and Job 600 among others, have been allowed to deteriorate. “Have we developed?” Mr. Amoabeng questioned.

He blamed the apparent under development to lack of creativity which he said is the result of a “programmed life” by the Ghanaian, explaining that: “After being born, one is fed, goes to school, grows up, finds a job, marries and dies”.

The renowned entrepreneur was quick to add that the society has become a slave to this programme, and people have to be appointed to closely monitor the population, to make sure there are no deviations from the programme.

On the second day of the conference, Mr. Amoabeng shared the platform with Dr. Pikay Richardson, a visiting Professor at the Manchester Business School of the Manchester University, UK, and a Member of Parliament for Nkawkaw, Seth Adjei Baah, who all advised entrepreneurs and Ghanaians to be humble and respectful not only to humans but to time.

A person commits partial murder if he or she fails to respect the time for an appointment, he revealed. Mr. Amoabeng, therefore, admonished Ghanaian entrepreneurs to be disciplined and invest in systems and processes so as to grow their businesses.

Speaking on the topic: ‘Making the Right Decisions at the Right Time,’ Dr. Pikay Richardson encouraged entrepreneurs to be wary of the turbulent market they are operating in.

In that market, the customer who wants world class quality service or product, but ready to pay pea nuts, determines the success or otherwise of a company and must be treated with respect,” he intimated.

Dr. Richardson added that entrepreneurs must do the right things and be fast and flexible to meet the changing needs of the customer. On guidelines to enter into a market, Dr. Richardson emphasized that entrepreneurs must enter early or later, when the market is evolving rapidly.

The Member of Parliament for Nkawkaw, Seth Adjei Baah, popularly known as ‘Shaaba’, asked entrepreneurs to be focused and not meddle in politics. The first day of the event was addressed by the Chief Executive Officer of Accent & Arts, Ms Constance Swaniker, and the Executive Director of Data Bank, Mr. Yoofi Grant.

Ms Swaniker who opened the day with her captivating topic: ‘The Mindset of the Entrepreneur’, said: “With entrepreneurial mindset inconveniences are seen as opportunities”.

For one to cultivate an entrepreneurial mindset, she suggested that he or she must surround himself or herself with entrepreneurs, set higher goals and say your ideas to co-workers, friends and families.

Mr. Grant observed that: “We are not packaging ourselves today. We do not understand the concept of culture on our economy” and, therefore, called on tertiary institutions to teach the young ones to be globally competitive.