Last weekend, Ghana and China signed a number of cooperation agreement when President Nana Akufo-Addo paid a state visit to Beijing. The Ghanaian leader was excited to court Chinese investment in Ghana and disclosed that Ghana wanted to float a $50 billion bond payable in 100 years.
Almost immediately after the news broke in the morning of Monday, it created so much fuss on social media and airwaves.
So YEN.com.gh is moved to suggest that this may not be a poor idea as many believe.
1. Money is hard to come by
In the realm of international affairs and trade, countries relate with each other through various means. But money is always a funny business which sees those who have it give so many conditions before giving it to those who are poorer.
The US and Europeans have been Ghana's major partners since 1980s. But even they will not commit to investing so much in Ghana at one-go like the Chinese may do.
2. When you have safe money, you can plan
One of the biggest problems in life and even national politics is that, without money, an entity cannot do long term plans.
Things have gotten to a point where Ghana has to know how much short-term commitments our partners are willing to make before we draw budgets. This has hampered very fundamental sectors like education and agriculture.
A $50 billion investment is money you can do practical long-term plans with.
3. A young population needs the investment
According to recent numbers, over 40% are under the age of 40 years. This is statistics that developed nations like Germany and Japan will be jealous of.
What does the future hold for a young, energetic and visionary population? This population needs the investment, the chance to do better than their predecessors.
The fears we have about paying this money should be made smaller by the fact that the next two and three generations might be well off than we are.
4. The Chinese are the future
A lot of people may believe that the sort of world that has been created by the powers would mean that the likes of Europe and the US will not be dethroned.
But money makes the world go round. And currently, the Chinese are growing at rates that has gotten everyone to sit up and take notice.
We may want to retain our democracy for as long humanly possible. But it will be helpful to be friends with those who are going to lead the future.
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