October 1, 2018 By: Michael Asamoah / 0 comment The Audacity to Transform the Economy of Ghana After 58 years of Ghana’s Independence, the country has failed to deliver consistent and sustained growth with widespread prosperity. Instead the period has seen disjointed economic performance, with short spells of strong growth followed by long periods of poor economic performance and harsh adjustment programmes. The lack of sustainable strong economic performance has variously been blamed largely on our colonial past, political instability from 1966 to 1981, our over-dependence on commodity exports and poor governance. While the country has now embedded democracy and has seen political stability since 1992, albeit fragile, the promise of delivering consistent, sustainable, strong economic performance to create widespread prosperity has evaded the country. Currently Ghana’s economy is going through one of its most difficult periods. There is serious energy crisis with pervasive power outages, many other economic and social infrastructure including roads and water are in deplorable conditions. The macro-economic environment is harsh and unfriendly for business activities, economic growth has weakened, productivity has plummeted while business and consumer confidence are on a steep decline. The situation indeed does not look promising for a country which currently is classified as Lower-Middle Income and the future is most uncertain. There is need for action now. The Minister of Finance in his 2015 budget launched a Transformation Agenda. While the core elements are yet to be defined, it is nonetheless a good beginning. What remains is to clearly define what this transformation entails and whether the Audacity to Transform the Economy of Ghana exists. We need to understand what our failures have been, what we have learnt from them and how we intend to recover from them. Even more importantly, we need to understand what implications all this will have on investors and the private sector and how to restore confidence in the economy. What do all these happenings mean for you and your business, and how should you respond? The purpose of the Forum will be to identify and define a strategic agenda that will respond to the issues of the transformation Ghana needs, suggest a road map to create sustainable strong economic growth which will expand public and private sector opportunities for creating wealth and jobs. Programme Objectives The purpose of the Seminar and the follow-up Workshops will be to; 1. Assist businesses understand and appreciate the potential implications of a transformation agenda, 2. Help them identify potential discontinuities and disruptions that transformation agendas normally entail, 3. Define their own strategic agenda to respond to the discontinuities and disruptions, and 4. Identify opportunities that are likely to emerge and how to leverage them. Programme Design Concept: Framing the strategic shifts in the Global and Local Economy and the appropriate responses from Ghana’s private and public sectors FORUM A half-day event delivered by a panel of leading thinkers on the local and global economy who have a deep understanding of the Ghanaian economic landscape. Topics include: Identify the strategic economic shifts, the transformation response, and their implications for economic actors in Ghana Define a road map to create sustainable strong economic growth Date: Tuesday, 26th May 2015 Time: 9:00 am WORKSHOP A two-day event designed to help participants to model responses. Topics include: Identify strategic paths to growth available to economic actors in Ghana Build a strategic framework for developing solutions Date: Wednesday 27th May 2015 – Thursday, 28th May 2015 Time: 8:30 am NETWORKING COCKTAIL This will take place at the end of the workshop on Thursday, 28th May 2015 Venue Alisa Hotels, North Ridge, Accra Speakers Razia Khan, Managing Director, Macro Research, Standard Chartered Africa Santiago Herrera, Lead Economist, Ghana, World Bank Felix Addo, Country Senior Partner, PwC Ghana Mrs. Mawuena Trebarh, CEO, Ghana Investment Promotion Centre Patrick Awuah, President, Ashesi University Dr. Nii Kwaku Sowa, CEO, Sowa & Associates Dr. Emmanuel Oteng Kumah, International Economic Consultant and Advisor Dr. Ishmael Evans Yamson, Chairman, Ishmael Yamson & Associates Target This event is designed to help owners of SMEs, corporate leaders responsible for strategy definition and implementation, Board-level Directors, public sector policy makers and senior politicians chart a strategic path to growth across the sectors and businesses they are responsible for.