The chairman of the African Investment Group, Dr Sam Ankrah, is strongly advocating for the government to consider privatizing some of the Covid-19 vaccine purchases and import deals in order to address the current challenges facing the country.
According to Dr Ankrah, the government must allow private companies and multinationals to import vaccines for their workers and later put their reserves in a “national pool”.
The economist and international investment banker was speaking to JoyBusiness after being inducted as a fellow of the Ghana Institute of Chartered Economists in Accra.
â€œLet blue-chip companies and multinationals use their contacts and influence abroad to import vaccines to immunize their workers.
â€œThey could also pick up extras to give to others and to the communities they find themselves in as part of their CSR activities,â€ he explained.
The economist argued that all of these private imports could be approved by the Food and Drugs Authority and the Ghana Health Service before being administered to the masses.
“I hope that the financial burden on the government to import large doses will be reduced and that the savings will be used for other projects beneficial to the masses,” added Dr Ankrah.
Dr Sam Ankrah was of the opinion that “the sooner we seek the services of expert economists and strategic thinkers to help us out of these unusual times, the better it will be for us as a country”.
Ghana’s outstanding debt and new borrowings
In his presentation, Dr Ankrah noted that while he sees nothing wrong with borrowing, measures must be put in place to ensure that the borrowed money is funneled into the productive sector of the economy, adding that he must go “where people feel and not whine or shout when the numbers are mentioned.”
“In the area of â€‹â€‹our tax debt, I find the levels not only frightening, but also wondering where all this money has gone,” said Dr Ankrah.
He added that “it is not better to brag about progress when producers of fertilizer for food production are owed huge sums of money, to the point that some are on the verge of collapse.” .
The economist and investment banker noted that more investment in infrastructure projects will be able to create jobs, serve the good of society and provide the income needed to pay off loans.
Mid-year budget review
Responding to recent concerns from a cross section of the public that they are not feeling the impact of a recovering economy, Dr Ankrah asserted that â€œa thriving economy is where we see actions on the micro side. . Where we see jobs being created, entrepreneurs and start-ups being created and real sectors functioning optimally to lower the cost of living and the cost of doing business. “
Institute of Chartered Economists
The program also saw other people who completed the various courses awarded as Chartered Economists.
The Institute of Chartered Economists – Ghana (ICEG) operates as a professional body registered under the Professional Bodies Registration Decree of 1973 (NRCD 143) with the mission of promoting and encouraging the study of the art and science of economics in Ghana.