GETFUND Contractors Stimulate The Local Economy

Government, can continue talking about bringing down the interest rate, reducing inflation, reducing debt to Gross Domestic Product (GDP) ratio, stabilizing the local currency, against its major trading currencies, and all the other micro economic indicators, all these will mean nothing if there is no money in the pocket of  Ghanaians.

Almost all Ghana Education Trust Fund (GETFUND) contractors are Ghanaians. GETFUND projects are scattered across the ten regions of the country, meaning any time, government, deny them payment, the effect is felt throughout the country.

The problem of delays in payment, did not start today, and will certainly not end today, if pragmatic steps are not taking, to pay contractors, once they raise the certificates.

Anytime a school block is being built, the local people are engaged, the money they make, is spent in the locality within which they live.

Most of the roads we construct in this country, we do so with monies from either our bilateral or multilateral partners, and often they decide which contractor, should construct the road. The loans we contract, end up going back to them, because the contractor is one of them.

GETFUND, is the only means, where local contractors, get the opportunity to bid for contract, it is not fair to them, to leave them at the mercy of their creditors, after securing loans to construct school blocks.

In the opinion of this paper, the government must stop treating Ghanaian contractors, as though they do not matter.

At the just ended 69th Annual New Year School and Conference at the University of Ghana, Sir Sam Jonah, said “ We must consciously strive to create business champions, just as Nigeria, has done with Dangote, UBA, Zenith Bank, First Bank, just to name a few”.

We cannot create local giants, when we overburden them with debt.   Their bankers are chasing them for their money, in their agonizing state, the president, also decided to add insult when he met the press last month at the Flagstaff House, by claiming GETFUND arrears, have been cleared.

 

 

 

 

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