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Moving Ghana Beyond Aid LET’S TACKLE INTEGRITY DEFICIT - Finance Minister

General News

The Finance Minister, Ken Ofori-Atta, has noted that the agenda to move Ghana beyond aid will require a conscious effort to tackle the integrity deficit in public procurement, which has become an avenue for unpatriotic public officials to siphon resources of the nation.

The Finance Minister, Ken Ofori-Atta, has noted that the agenda to move Ghana beyond aid will require a conscious effort to tackle the integrity deficit in public procurement, which has become an avenue for unpatriotic public officials to siphon resources of the nation.

 

“If we are bold and patriotic enough to tackle the integrity deficit in the award of contracts the task of moving Ghana beyond aid would be nothing because we lose more by disregarding value for money in the awards of contract than we gain from foreign aid. Indeed, it can be rather self-serving if the majority of us gather the courage to put the national interest above that of our person or group,” he said on Wednesday.

Mr Ofori-Atta was delivering the 3rd Aliu Mahama Memorial Lecture in Accra, under the theme "Transforming Ghana Beyond Aid: How We Get There.”

The Finance Minister was emphatic that the time had come for public servants not to treat issues concerning the country as business as usual but make integrity, transparency, and the love of the country take centre stage in undertaking all duties.

According to him, as government they are determined to protect the public purse by doing away with corruption and all forms of activities that will jeopardize the larger interest of the population to the benefit of selected few.

He was optimistic that Ghana could transform greatly if the people adhered to the vision of President Nana Addo Dankwa Akufo-Addo to change the fortunes of Ghana in a shortest possible time.

The Finance Minister stressed that former Vice President Aliu Mahama being celebrated today stood for discipline and integrity, adding that Ghanaians could make the required impact on national development by exhibiting greater integrity in all spheres of their endeavours.

He revealed that as part of activities to make all sectors of the economy work again, the Tema Oil Refinery would work at full capacity in first quarter of 2018 since it has the capacity to convert the petrol chemicals into other products.

The minister said local entrepreneurs would be resourced for the Ghana beyond aid agenda to thrive.

He stressed that one important aspects that would facilitate the agenda of the Ghana beyond aid would be to see domestic savings appreciated.

He encouraged all players in the economy to hold fast in eliminating the budget deficit.

The minister was hopeful that Ghana could meet the GDP growth of 7.2% that would take the nation close to the Asian Tigers.

He told the gathering that government would give premium to all its natural resources by adding value to them to transform the country.

According to him, international interest in Ghana's bauxite is huge; therefore, government will leverage it with prospective investors to the advantage of the country.

"Bauxite will drive Ghana's economy. Integrated aluminum would be pursued to push the sector. Ghana has an estimated 1 billion annual reserve of bauxite," he stressed.