Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom is questioning why no indigenous Ghanaian Bank has been able to cross boundary and establish in other African Countries or the UK, Europe or Asia.
He is also worried that government seems to enjoy closing down distressed Ghanaian businesses rather than helping them overcome their challenges.
Dr. Papa Kwesi Nduom took to his social media handle to pour out his frustrations on a number of issues in the country including the depreciation of the local currency, the Cedis.
‘’Why is it that no Ghanaian bank has crossed boundary and established in other African countries or the UK, Europe, Asia? But banks from Nigeria, South Africa, France, etc have established in Ghana? Why is it that we cannot name indigenous Ghanaian private sector companies that have been in business successfully for more than 50 years? Why do we prefer state-owned or foreign owned to Ghanaian owned? We can’t allow our neighbors or school mates or “friends” to succeed? Why is it that when a Ghanaian company faces challenges, the answer is close it, make noise and disgrace the owners? Aren’t challenges meant to be solved?’’ he quizzed.
He continued that ‘’and we wonder why we continue to import everything? And wonder why the Cedi cannot match the pound or euro or dollar? Why do we think that Dangote, Elumelu, Buffet, J P Morgan, Bill Gates did not face challenges or make mistakes on the way up? What if their companies had been vilified and closed when problems showed up? So what if we stopped using the Cedi every time it lost value significantly against the dollar? What would we do? And what if we banned political parties every time they lost an election? What would happen to NPP and NDC? Why do we love sweet words, and those who promise “milk and honey”, no losses, no hard work, no problem and instant wealth yet live in these difficult conditions?’’.