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Ghanaian business mogul and economist, Kofi Amoah, has said government collapsing local companies in the name of cleaning up sectors of the economy is a failure in the logic of leadership.
He said the government should rather find ways of sustaining these businesses that have various challenges rather them collapsing them.
“The collapse of the Ghanaian owned banks was a failure in the logic of leadership of the people who were structuring the banking system,” he said.
Kofi Amoah, who disclosed this in an interview with GhanaWeb TV, noted that killing local institutions gives monopoly to foreign companies which would be deferent to worth creation and the entrepreneurship drive in the country.
“Killing Ghanaian bank gives monopoly to the foreign banks and the governments money is now in foreign banks,” he said.
“If you kill Kofi Amoah business, I am fine but the 250 people who had high paying jobs are now sitting home. Most of them haven’t got jobs,” he added.
According to him, for the country to become a developed nation, institutions owned by Ghanaians should be at the forefront.
Kofi Amoah said Ghanaian owned institutions must become the centre of strength of the country’s assets, therefore, must be protected.
“We have to understand that the natives of a society must be at leadership front of moving the society forward not foreign. And if we begin to love ourselves as citizens of the nation, we have to protect each other”.
“Let us understand that Ghanaian institutions are tools with which we move forward as people don’t kill them”, he said
He recommended that instead of collapsing the businesses, the government must arrest owners who break the laws of the country.