Sam Jonah, Executive Chairman of Jonah Capital

The Founder and President of Concern Voters Movement (CVM) has challenged Mr. Sam K. Jonah to show appreciation for the good initiatives that have been implemented by the Akufo-Addo-Bawumia government aimed at formalizing the economy.

The government, he said, has worked the debt crisis it inherited and to ensure a fast rate of development in all areas of the economy and positioning Ghana to compete fairly and squarely with the advanced economies.

Mr. Razak Kojo Opoku was responding to comments by Sam Jonah in a recent lecture in which the business mogul created the wrong impression that Ghana is experiencing debt crises under the watch of President Akufo-Addo and Vice President Dr. Mahamudu Bawumia.

According to him, this gloom-ridden and mischief-making statement was unfortunate and inapt, emanating from an individual who described himself as a senior citizen.

“Mr. Sam K. Jonah should have used this opportunity better than he did,” he said.

Razak Kojo Opoku, CVM Founder and President

Razak Opoku noted that all the economic indicators cited by Sam Jonah to support his argument were disingenuous and inconsistent with the state of the Ghanaian economy.

“Akufo-Addo-Bawumia’s government inherited a huge debt coupled with a very distressed economy. We hope Mr.  Sam K. Jonah is aware of this?

“Even in the face of the excruciating economic conditions Akufo-Addo-Bawumia’s government inherited, the government has managed successfully to honour the social contract the New Patriotic Party (NPP) signed with Ghanaians by implementing most of the policies and programmes they promised the good people of Ghana.

“So far so good, Akufo-Addo-Bawumia’s government has implemented a lot of economic transformative policies and programmes aimed at bringing the economy back to life. Facts and figures speak for the government better performance in this case.  Mr Sam K. Jonah should be aware of this.

“Even if monies have been raised by Akufo-Addo-Bawumia’s government mostly through bonds, it is important to point out that such monies have been used to implement policies that were non-existent since the 4th Republic.

“Heavily capital intensive projects such as One-District-One-Factory (1D1F), One-Village-One-Dam (1V1D), Planting for Food and Jobs, One-Constituency-One-Ambulance, Railway Infrastructure, Digitization & Digitalization of the Ghanaian economy are all projects that were financed by the bonds raised by Akufo-Addo-Bawumia’s government,” he stated.

He argued that the effects of the COVID-19 on the world economy and Ghana, in particular, are well-known with the Akufo-Addo-Bawumia government compelled to provide free water, electricity and food to Ghanaians.

“At the same time, about 88 district hospitals are being constructed to transform the healthcare system in Ghana.  All these efforts are supported by the bonds and the domestic revenue generation efforts of Akufo-Addo-Bawumia’s government,” he added.

The CVM founder described as very sad and even regrettable Sam Jonah’s comments on the mining industry and argued historical records on Ghana’s mining do not favour Mr. Jonah’s contributions to the sector.

He questioned what measures Mr. Jonah put in place to prevent galamsey in Obuasi when he was the President and CEO of Ashanti Goldfields Corporation.

“Currently, senior citizen Sam K Jonah is the owner and Executive Chairman of Jonah Capital, an equity fund based in Johannesburg, South Africa.

“If senior citizen Sam K. Jonah means well for the country’s economic transformation, he wouldn’t have set up and operated his company in South Africa,” he argued.

Razak Opoku questioned how Mr. Sam Jonah wants the government to stop borrowing if he is continuously investing in the South African economy and paying taxes to the South African government.

SOURCEBy Osumanu Al-Hassan
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