Presidential candidate Alan Kyerematen assures Ghanaians of his commitment to economic reform, job creation, and reduced living expenses.
Alan Kyerematen, a leading contender in Ghana’s upcoming presidential election, has pledged a resolute commitment to revitalizing the nation’s struggling economy, creating jobs, and alleviating the burden of the high cost of living on ordinary Ghanaians. In a recent address to journalists, Kyerematen presented his “Great Transformational Plan” (GTP) as a comprehensive and realistic roadmap for economic recovery.
Central to Kyerematen’s economic strategy is a multi-pronged approach focusing on several key areas: effective debt management, a regime of low and competitive interest rates, stabilization of the exchange rate, and stringent control of inflation. He argued that Ghana’s current economic woes stem from poor management, resulting in a vicious cycle of unsustainable debt, volatile exchange rates, and a weak cedi. The GTP, he asserts, offers practical solutions to break this cycle, emphasizing competitive interest rates, a vibrant enterprise economy, and a fundamental restructuring of both revenue collection and government expenditure systems.
A key element of the GTP involves a modernization of Ghana’s trade infrastructure, specifically through the complete digitization of the UNIPASS platform. He also proposed innovative financial mechanisms to support the cocoa industry and small and medium-sized enterprises (SMEs), recognizing SMEs as the backbone of a thriving economy. Kyerematen emphasized his commitment to providing the necessary support for SME growth and job creation.
Addressing the critical issue of unemployment, Kyerematen outlined a comprehensive job creation strategy built around ten strategic industrial sectors. This strategy also includes a renewed focus on agricultural revolution, substantial investment in the tourism sector, and significant advancements in the information technology field. He envisions a Ghana that is not only a premier tourist destination but also a leader in the global enterprise economy, providing ample employment opportunities for the nation’s youth.
Kyerematen further criticized the current administration’s economic handling, asserting that while global challenges such as the Russia-Ukraine war and the COVID-19 pandemic impacted economies worldwide, Ghana’s neighbors have demonstrated superior economic performance due to better leadership choices. He contrasted this positive trajectory with Ghana’s struggles, which he attributes to weak economic fundamentals and an artificially inflated economy teetering on collapse.
He also challenged his opponents, former President John Dramani Mahama and Vice President Dr. Mahamudu Bawumia, for failing to prioritize economic management in their campaigns, suggesting their avoidance of this critical issue reflects a lack of viable solutions. Kyerematen highlighted his own experience as a former Trade and Industry Minister, pointing to successful initiatives such as “One District, One Factory” and the “Ghana Automotive Industry Development” program as evidence of his competence. He concluded his address with a fervent appeal to Ghanaian voters, emphasizing the need for strong leadership with a proven track record and vision to tackle the pressing economic challenges facing the nation. He positioned himself as the candidate best equipped to deliver real change and a brighter future for Ghana.
