Citizens’ laid-back attitude towards governance contributed to economic crisis, says ACEP boss
Benjamin Boakye, the Executive Director at the Africa Centre for Energy Policy, has attributed the current economic crisis in Ghana partly to the lackadaisical approach of Ghanaians towards the governance of the country. According to Boakye, the populace’s inclination to mind their own business instead of holding the government accountable has played a role in exacerbating the economic challenges faced by the nation.
Speaking at the Graphic Business/Stanbic Bank Breakfast meeting held at the Labadi Beach Hotel, Boakye emphasized the importance of citizen engagement in policy matters and the need to ensure that governance functions in the best interest of the people. He underscored that the current situation is not solely the responsibility of the government but rather a collective failure to address poor decision-making and demand better governance practices.
Boakye acknowledged that there were individuals and organizations, including his own, who voiced concerns and highlighted the potential consequences of unfavorable decisions. However, he expressed the belief that Ghanaians could have been more assertive in their demands to ensure that governance was truly serving the needs of the people. He urged citizens to take an active interest in government policies and hold their leaders accountable.
The Energy Governance Professional stressed that the impact of the economic crisis is not selective, affecting individuals from all walks of life, including bankers, industrialists, and producers across various sectors. He emphasized the need for collective responsibility in ensuring that governance works for both the people and businesses. Boakye urged citizens to question and demand transparency regarding government borrowing practices and the management of public finances.
While emphasizing the role of citizens in driving change, Boakye also emphasized the responsibility of the government to meet the people halfway and undertake the necessary efforts to address the challenges. He acknowledged that Ghana’s ongoing debt restructuring program, coupled with the recent agreement between the government and the International Monetary Fund (IMF), would entail further hardships in the coming months before improvements can be expected.
Boakye cautioned that the country must brace itself for difficult times ahead and stressed the need for individuals to adapt their lifestyles accordingly. With inflation projected to remain above 40%, he warned that the cost of goods and services would continue to rise significantly. Boakye highlighted the IMF’s role in the economic program and indicated that inflation had been factored into their recommendations, including the necessity for cost-reflective tariffs. He warned that tariff adjustments would impact electricity, water, and other essential services.
Boakye further emphasized the urgency for Ghanaians to take ownership of their country’s destiny and make difficult decisions to navigate the current challenges. He encouraged citizens to psychologically prepare themselves for a prolonged period of hardship, adjust their lifestyles, and find ways to manage the increasing costs. Boakye emphasized the importance of resilience and collective efforts in overcoming the economic crisis, underscoring that Ghana’s future depends on the proactive actions and determination of its citizens.
