IS GHANA REALLY FINISHED?! WHAT IS GOING ON?
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- Опубліковано 4 лип 2024
- #ghana #news #economy #ghananews
Is the country done or is this a rough patch? WHAT IS GOING ON IN GHANA?
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My people! Is Ghana really and truly finished? Or....is this just a hurdle? Article here:
www.bloomberg.com/news/articles/2022-08-26/why-ghana-went-from-hero-to-zero-for-investors-quicktake
You will never get a good review about Ghana from west country, it will never happen. They look down on African countries. So forget the Bloomberg report.
@@victorm.2179 touchè but our local media is also complaining about this to be fair.
For your information just listen to the response statement from IMF to Mahatma.Read Bloomberg news statement that Ghana’s GDP grew 4.6 in the last quarter, September Let’s pass on proper information.
Free education is the best well thought idea in Ghana. Well done.
If education is expensive, look at the alternative of ignorance.
Because everyone is importing stuff that can be produced in the Country, hence the dependency on the dollar...
The dollar demand is part to blame honestly. You are so right!
By far one of the best UA-cam channels in the "Back To Africa" category.
Thank you. A very high compliment 😊
chale Sosu, Sosu, Sosu
Dope video Nana, not finished but on the edge. But the smart will profit from these times
I agree actually.
BUT THIS IS THE BEST TIME TO INVEST IN GHANA SINCE THE CEDI IS EXTREMELY LOW. LIKE BUYING LANDS AND BUILDING SOMETHING. ITS NOT GOOD FOR THE CITIZENS BUT FOR INVESTORS THIS IS THE BEST TIME!
Yes!
Let's use your example of investing in real estate to show how false this notion is. It may seem like foreigners with dollars, euros, etc will get more for their buck in these times but they won't because people here price according to their feelings! The moment everyone hears the exchange rate is up, they automatically increase prices so let's just say you get land at a fair price, all your building materials just increased in price too (most of these are imports). In the end, nobody wins!!! Even in the money markets, forget it. It's all the way bad!
Not just in Ghana, the EU/England is on the verge of collapse. This is the time for Ghana to be independent of the West. We are just not hearing about it.
@@NanaAshanti No matter how much they increase they still not being profitable. Also, they can only increase it to certain extent otherwise nobody will buy. Buyers have a purchase power in this times and sellers understand they must eat so if you do basic micro or macro economics on this IT IS AN AMAZING DEAL. For example, an acre of land in Takoradi was being sold orginally for 40k ghana cedis and the gentleman explained to me how prices have gone up so he raised it up to 50k cedis but at the rate it is going it still a sell off deal compare to if the cedis was high!!! At this poing there can't be a shortage in the Ghana markets because nobody in their right mind will buy so sellers must understand that they only way a market can be made if things are reasonable but same time enough to survive then there will be a MARKET! BINGGGGGGOOOO!!! LOLOL
@@afrodisiacvillas-spa lol. You would think so but between you and I, buyers never really have power here. People will rather see their goods rot than sell it below market value. Yes, foreigners will benefit from the exchange rate but will lose it a lot faster due to inflation and price gouging. It's not going to be good if things continue in this trajectory.
Ghana is not finished. Every country in the world has high inflation and recession. The Ghana currency is not as bad as Nigeria. There are lots of media in Ghana floating negativity mainly politically. And yes some mistakes have been done in Ghana but Ghana is not finished. There are too much money going out and not a lot coming in. Ghana literally has free education and the question is how is Ghana paying for that. Also Ghana has sold too much of there resources to China. India, these are the bad investments some Ghana leaders have created. Example is Ghana's gold mines, there is China harbor in Ghana but you don't see Ghana harbor in China. MPs cars and clothing are paid for from loans and revenue Ghana acquires. Mind you the free education was not created by this current government. Ghana is rich in resources and that is their way of getting out of the mess. Stop import basic food from Europe and China. The problem is Ghana government is living above its means. And lastly there is really no real tax system in the country so no revenues are coming in. Ghana is to develop a fair system across the board. I can go on and on. Bad investments is the problem.
Our governments, years in & out, seem to not get this though. Who better to bet on but yourself instead they rush to get these other countries for every single project. It's really bad. I don't think tax collection is the problem. They collect a lot. They do overspend though. That I believe.
Loving the intro!
Unfortunately it will be tough times for the locals. However for the west wanting to invest, their pounds, dollars or euros will take them far.
Well it's a double edged sword. Yes, the exchange rate will help investors but the costs of goods will not. In the end, both locals & foreigners will feel the brunt of this.
Let's not give up on our continent.. leaders made bad decisions but we will learn from this and move forward.
We will! 🤗🤗
GHANA IS NOT THE ONLY COUNTRY HAVING ECONOMIC PROBLEMS, EVEN BRITAIN AND OTHER WESTERN COUNTRIES ARE ALSO HAVING PROBLEMS. SO PEOPLE SHOULD CALM DOWN FOR GOD SAKE.
Lol. We shouldn't talk about our problems in our house because someone is also having problems? I mean, that's not fair 007. Let everyone cry their own cry.
@James Bond- Calm down ? You're probably living in a foreign country most likely a global North country having easy life and you have the gut asking the people living in the country facing hardship day in day out to calm down ? Ghana has been con and lied to by this Akufo Addo who just literally run the country down to the gutter and this idiot is always blaming somebody or the world for his incompetence. Vote this criminals out.
The issue is how it will impact the lives and standard of living of those here. Every time the cedi depreciates people a thrust into poverty en mass. Pls it warrants serious concern because if this continues rich man sef no go remain
@@DerrickCNdu because we are more focused on the dollar than ourselves. If we stop importing most of our goods nd out a cap on prices. We will be good. Many people take advantage of the dollar cedi situation nd raise prices on their own ridiculously. Even food that is being grown in ghana are priced higher. Nd that must be stopped
@@flavorsofthecontinent7195 people with private enterprises are also to blame because honestly, why would a landlord increase rent prices "because of the dollar"? How does that affect the building, Sir? 🤔
Short and sweet and Informative love it plan to move to Ghana 🇬🇭 next month and it just seem l like everything expensive and the quality is not great at all
You are going to have to choose your battles here but once you get used to the system, it's pretty smooth sailing. 😉
I so agree with you. The wrong people in government. Ones that need to be govern. Ego, materialistic people and tricksters. The people from the diaspora need to put their two cents in. Making our ancestors proud. Many may not be alive to see it but our spirit will tell it. Thanks for sharing.
🤗
Sigh! As much as I am a strong and enthusiastic supporter of this government; full disclosure. It is maddening how they fell so easily in to this trap. Ghana is a target for the global white power structure. It is not the only one; ask Paul Kagame in Rwanda....he is another one. The difference is he has mastered how to play their chess game. The minute the Head of State mentioned 'Ghana Beyond Aid' and became one of the chief engineers for the AfCFTA; the African Central Bank; the African Development Bank building its balance sheet to a trillion dollars (BTW the AfDB will be reconstituted in to an independent African Central Bank) and other deeply transformational ideas that will fully emancipate the continent economically..........this country became a target. Everyone in the President's inner circle should have understood this implicitly and explicitly. Again ask the Chinese who have mastered how to play this game. The West does not tolerate pretenders to the throne; if you challenge their hegemony you better be prepared to put your money where your mouth is. We are in this predicament because of corruption and lethargy. Ghana does not need the IMF and should NEVER go the IMF for financing. Only idiots and rubes do that. But we wasted too much money, yes the President has coddled corruption within NPP ranks and so when global investors began to play hard ball, we did not have a big enough nest egg. Additionally some truly transformational ideas like Agyapa should have been passed immediately after COVID. The truth is and the facts are, Ghana MUST become a preferred investment destination for domestic, regional and international capital. Investors are not donors. You must produce and provide a demonstrable ROI otherwise the penalties are steep. As a country it is taking us TOOOOOOOO LONG to understand and master this simple fact. Look at Rwanda, Rwanda is an authoritarian police state but it is a country where EVERYBODY is pouring billions of dollars in INVESTMENT NOT AID. Warren Buffet's son who is building a $ 200 million university for advanced sustainable agriculture was asked about Paul Kagame's human rights record and he replied......."I don't give two shits about his human rights record; I give two shits about return on investment on my money." The West can't touch Paul Kagame and boy have they tried.................he tolerates zero corruption and zero dissent. Pick your poison.
And I hate to get political but if anybody thinks John Mahama is a credible alternative to playing this global chess game, they are going to be in for a rude shock. A man who can't even tie his shoe laces in a global financial onslaught. Young Ghanaians need to wake up and understand the stakes. And if Nana Akuffo Addo cannot deliver Ghana Beyond Aid they better find somebody who can because that is the ONLY OPTION.
This government has no one to blame but themselves. They leave too much to be desired with their plans. Every last one of their ideas are so hollow.
@@rositascarborough5751 he's definitely not an option. Nope.
@@NanaAshanti I agree. So where do we go from here? Any suggestions?
you are right Rosita. Ghana became a target but it sad the so called leaders didn't foreseen this coming. They want to see Ghana fail big time.
Government overspending!!!! THAT'S IT!! Not necessarily on the people, but let me carry and go 🫣🫣
Girl 🤣🤣🤣
Hi! Do you no french public school in Ghana ? please (nice vidéo informatif😉
Hello, please look up "Alliance Francaise" in Accra. It's the only French school I know of. 🙂
I thibk you said it right, Ghana is very finished 😭. But has so so much potential if we have the right leaders
🙁🙁🙁🙁
Ghana is definitely not finished. Take that out of ur head
Ghana is not finished. Ghana never began.
Ok
Chia 10 Cedis to $1 Hmmmmm how about my 9ja which is 680 Naira to $1. It’s much better in Ghana woo. Thanks for sharing
Oh wow. That is a lot!!!!
I usually don’t talk about politics but I would say this government is a huge disappointment. I don’t remember when the dollar was ever 10 cedi and above. I remember very well when the dollar was 1 cedi. I don’t know how we are going to survive in this country.
This government is a huge disappointment.
They are charismatic but clearly they can't do math. Huge disappointment!
Yes this government has been disappointing all around and the decline of the economy & cedi even with oil reserves, smdh. Back in 2007 I was in Accra when they redenominated the hyper inflated cedi from $1 to .97 cedis when years before 1000, 5000, 10,000 cedi notes were the norm!!
@@madjoabutterfly people had high hopes that's why it's extra disappointing. African leaders. Overpromise , underdeliver.
@@NanaAshanti they messed up everything
@@madjoabutterfly I remember clearly when 1$ was 1cedi. It’s a shame now
What causes inflation are mainly three: PRODUCTION COST, DEMAND, AND FISCAL POLICY. I will suggest that if you are going to be talking about this issues then bring in an expect on such issues and talk about them and what affected Ghana. Am advising as an economist. Thank you
Because I don't have access to an expert, i asked people like you to explain further in the comments so thanks. Since you are here, can you explain further on the 3 factors? 👀 We want to learn.
Actually whilst there is some truth in this it is in reality just a theory or policy rather than fact. This is how capitalism works and people actually believe in this as the only system.
However price does not have to be determined by demand you can put in alternative measures.
This is a big part of the problem, so called experts who learnt ideas in schools that are not always beneficial to our environment. They will have you believe it is the only way but i tell you it is not.
Our minds need to be liberated from these deceptive economic theories.
Think about in this entire world there is enough food and homes for everyone. But then why are some people hungry why are some homeless because the model our leaders kowtow to is the model of greed.
I am going to give a real example of this economic deception. In the 90s in a university in uk they were teaching economics for developing countries. They briefly discussed ISI (Import Substitution by Industrialisation) and it was said quite categorically this model does not work!!!
Since then we have seen China emerge as the economic threat it is using that precise model.
We are being deceived and need to do our own thinking, being an academic does not make someone intelligent. You are intelligent if you do the right things for the right reason.
Let's think for ourselves !
@Nana Ashanti YOU ARE PRACTICING DEMOCRACY WHICH IS VERY NEW IN GHANA. JUST 50 0R 60YRS AND YOU WANT EVERYTHING THAT TOOK WESTERNERS OVER 240 T0 400YRS OF PRACTICES. I KNOW WE BOTH WANT GHANA TO DEVELOP AND I UNDERSTAND YOUR PAIN, REALISTICLLY, COVID AND LOCKDOWN WAS A BIG PROBLEM, UNDERSTAND THAT THE COUNTRY WASNT GENERATING MONEY AT THAT TIME. KINDLY ALSO INCLUDE THE PROBLEMS THAT HAS HAPPENED BETWEEN THE LAST 6YRS AS WELL SO THAT EVERYONE WILL BE HUMAN AND UNDERSTAND EXACTLY WHY GHANA IS SUFFERING. IF IS ONE SIDED, OH GHANA IS HARD BUT NOT INCLUDING WHAT HAS MADE IT HARD THEN I AM SORRY IT WOULDNT LOOK GOOD. RUSSIAN WAR WITH UKRAIN HAS DETERMINED THE PRICE OF FUEL GLOBALLY AND THIS HAS AFFECTED NOT ONLY GHANA. ANYTIME YOU ARE SPEAKING ON ISSUES KINDLY ACCESS BOTH CORNERS OF INFORMATION AND STAND IN THE MIDDLE FOR YOUR VIEWERS TO BE ABLE TO MAKE A CHOICE. PEACE
I am pretty sure i mentioned COVID and the global problems we all are facing. I like to think i'm very objective in the way i approach these issues but i also have to be honest. I feel these problems everyday i live in the country. Politicians in their big fuel guzzling cars run me off the road to pass by to wherever like everybody else so i speak from a place of wanting this place to be better. I truly think things will turn around. I am just currently disappointed and tired.
All i see is opportunity in ghana rightnow being in the states.
👀👀👀👀
investing in education is investing in the future maybe they can work on tax collection and firming up the tax system but investing in healthcare education is never a bad investment
I think they overtax the formal sector and still have not come up with a solid way to rope in the informal sector. Big issue is, we don't see what they do with our taxes so no one is inclined to pay anymore. Hopefully this turns around.
Yes l am afraid it’s DOWN HILL🙃
🤣🤣🤣🤣🤣🤣
Africa is on its way up BUT France and Europe want pay back because Ghana was talking trash last year. Dont give up on Africa or Ghana.
But what has Europe got to do with government overspending?
They saw this coming that's why they started to invite the people from the diaspora in to bring money into the country
This government is not very forward thinking. They couldn't see a road marking infront of them. I doubt it.
Nonsense
I saw that video, but I don’t think Ghana is finished! I’m moving to Ghana and I bought land beach front land and it’s beautiful! We all have to unit specially diaporas. US is finished, Babylon is falling and I live in the US and we are in trouble! Africa is better then the US! There is not going to be no more here dollars in the US! Africa are for Africans so it’s better then the US. I’m not saying Africa is perfect, it’s not, it’s better then DamErica like Goblack2Africa said!
Super excited for you. I too, have no intentions of living anywhere else so come join us. Still much better 🙌🏿
@@NanaAshanti thank you, Nana, I do like your videos
Better keep you money in a US bank...
I think your analysis is very harsh. Tell me which country in the world is not having economic problems. Tell me how many countries in the world continues to build infrastructures in the midst of the current global economic situations how many countries in Africa have free education. This government is handling the current global crisis very well. Please don’t compare my lovely country to Sri Lanka. And may God bless Sri Lanka. America has serious inflation right now. UK is as hard as rock. No where in the world is doing better. Ghana has put in place a lot of systems to tackle socioeconomic problems it will mature in the years to come. Please be informed before treating such topics. Else you will create unnecessary anxiety.
I am pretty sure I said I THINK ITS A PHASE. This country has been through many IMF programs & HIPC and came out on the other side. We are discussing it so hopefully people who are in positions can sit up & work. We can talk about this and also make suggestions as people are doing in the comments. No need for anxiousness. Is that ok?
Bloomberg and US rating agencies should leave Ghana alone. What's your obsession with Ghana for? We do have several advanced economies in the world in the same shit as Ghana but you keep vilifying Ghana in the press when you hardly understand the local economy. Where did your writers study economics and international marketing? Ghana's formal economy is about 40 - 50% of its overall economy. The informal economy is larger, where ordinary businesses do not report any data or hardly keep records of costs. If one hardly ascertains accurate data, how can you report so harshly about an economy you don't understand with incomplete data? Very disgraceful. It appears you have allied yourself with the corrupt opposition groups for a common course. Has the government of Ghana defaulted on any of it's debt obligations?
I don't know if you are addressing Bloomberg or me but either way, the writer is a Ghanaian journalist living in Ghana & their analysis is based on third party assessment. I don't think it's harsh at all. It's factual. Doesn't make it the end just the present.