"Tarry A Bit Longer": Mahama Begs Multinational Companies Not To Leave Ghana
- The presidential candidate for the National Democratic Congress, John Mahama, has appealed to multinational companies not to exit the country
- His appeal follows several multinationals leaving the country, citing the harsh economic conditions, among others, as their reasons
- He said if his government came into power he would undo all the poor economic decisions his predecessor had taken
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The presidential candidate for the National Democratic Congress (NDC) in the upcoming December 7 elections, John Dramani Mahama, has urged multinational companies to stay in the country.
He was reacting to the sudden flight of several multinationals from the country beginning in 2022 till date.
Source: Getty Images
Most of these multinationals had cited the country's poor economic situation, as well as high taxes and other regulatory issues, as their reasons for exiting the Ghanaian market.
The latest to exit is food delivery company Glovo, which left earlier this month after citing profitability issues and a re-evaluation of its investment priorities on the continent.
According to the former president, the exit of these multinationals would negatively impact the economy through reduced employment opportunities and lower tax revenues.
Speaking at the 8th Ghana CEO Summit in Accra on May 27, 2024, John Mahama noted that the issue is further exacerbated by the country's ballooning debt levels, which currently stand at a staggering GH₵658.6 billion.
The former president blamed the prevailing unfavourable business climate on the economic mismanagement of the ruling New Patriotic Party (NPP) government.
Mahama urges multinationals to await his presidency
He assured business owners and multinational companies that if his government came to power following the 2024 general elections, he would reverse all the poor economic decisions the incumbent regime took to create a more favourable one.
He urged businesses to weather the storm a while longer till after the 2024 elections.
"I use this opportunity to appeal to you, captains of the industry, to tarry a bit more. Please don't leave our country. There is a saying that the darkest hour is before the dawn," he said.
Mahama slams Akufo-Addo government for poor flood management
YEN.com.gh reported that John Mahama criticised the government's inability to mitigate flooding incidents in Accra.
He accused the government of lacking a comprehensive flood prevention and management plan despite spending huge sums on flood prevention interventions.
He said the failure of the government to address the perennial situation has led to unprecedented destruction this year as several properties have been destroyed, trees uprooted, roads rendered impassable, and at least one schoolboy has lost his life as a result of the floods.
Proofread by Edwina N.K Quarcoo, journalist and copy editor at YEN.com.gh.
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Source: YEN.com.gh
