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Cedi’s Fall Due To Leakages – Kofi Amoabeng
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It will be very difficult, if not impossible, to hold the cedi against the dollar because the Ghanaian economy is suffering from serious leakages, renowned entrepreneur and Chief Executive Officer of UT Bank, Prince Kofi Amoabeng, has stated.

“There are serious leakages when it comes to mobilizing revenue and project implementation in this country and there is a lot of corruption too,” he told The Finder Monday in an interview.

Mr. Amoabeng attributed the leakages to the lack of appropriate structures and institutions, adding, “It is rather unfortunate that Ghanaians and Africans don’t want processes and systems to work. Everyone thinks he or she is different and has to be treated differently.”

He blamed supposed power brokers who are fond of circumventing procedures and systems and rendering them inefficient in the process. According to him, it is important for leaders of the country to take a back seat and ask what it is that has gone wrong with the country.

“I can assure you that it would not be difficult to find the causes. If it’s that bad, go back to the basics and the solutions would be there,” he stressed.

“Are we prepared to find the solutions? Are we ready to get people to account for their actions, establish a credible address system, house numbers and get people to pay their taxes to government promptly?” he asked.

According to him, if the leakages are not sealed it would be difficult to hold the cedis fall any further.
Source: The Finder

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