Joe Jackson, the Chief Executive Officer of Dalex Finance Joe Jackson has revealed Ghana was broke under the erstwhile Akufo-Addo Bawumia government.
According to Joe Jackson, the former Akufo-Addo government could not pay its debt.
He noted that under President Akufo-Addo SHS students were fed on less than 2 Cedis a day and anybody who disagreed with Ghana was broke was living in a different reality.
Speaking on TV3’s Key Points on Saturday, March 1, Joe Jackson stated, “Ghana is broke and we continue to be broke. If you can’t pay your debt are you not broke? We feed SHS students on less than 2 Cedis a day so what are we talking about? Anybody who disagrees is living in a different reality”.
Joe Jackson further highlighted what the Akufo-Addo government did to the cocoa sector was criminal.
He added, “What has been done to the cocoa sector is almost criminal and such that any attempt to hold the value of the cedi this year is going to be severely hamstrung by what has happened in the cocoa sector.”
“From the financial sector, the signs are tremendous. The fall in T-bill rates alone and the corresponding domino effect on the rest of the economy is outstanding”.
Meanwhile, President John Dramani Mahama has revealed that state-owned enterprises Electricity Company of Ghana (ECG) and the Ghana Cocoa Board (COCOBOD), both are struggling under heavy debt burdens.
John Mahama detailed the Electricity Company of Ghana owes GHS68 billion while the Ghana Cocoa Board owes GHS32.5 billion.
According to John Mahama, the staggering debts are a glaring sign of almost deliberate and, in some cases, reckless mismanagement of our resources.
Delivering his first State of the Nation Address in his second term to Parliament on Thursday, February 27, John Mahama stated, “We are saddled with staggering debts and glaring signs of almost deliberate and, in some cases, reckless mismanagement of our resources.
In addition to the public debt, which amounts to a staggering GHS721 billion, several state-owned enterprises are also in debt, including the ECG, which owes GHS68 billion”, he added.
John Mahama further detailed, “Ghana COCOBOD, the hope of cocoa farmers, is highly indebted. Its balance sheet indicates a total debt of GHS32.5 billion, of which GHS9.7 billion is due to be paid by the end of September 2025.”
President John Dramani Mahama has also revealed Ghana’s state of the nation is not good.
John Mahama boldly stated the Ghanaian people are suffering an unprecedented crisis.
According to John Mahama, his administration will solve Ghana’s economic crisis by the end of his four-year term.
The president asserted that he understood why he was elected with such high voter confidence and that was to solve Ghana’s problems.
He added, “I John Dramani Mahama will fix the economic crisis confronting our country and reset it on a path of growth and prosperity.”
“I will confront the economic crisis head-on and reset our country on the path of growth and prosperity, It’s not my style to lament and shift blame when confronted with challenges”,
John Mahama also detailed, “It is not my style to lament and shift blame when confronted with challenges. My approach is to accept challenges and work hard to resolve them. Indeed, this is precisely what the people of Ghana elect me to do.
“I have therefore not come here to lament on the state of our country though there is much to lament about. I understand why I was elected with such high voter confidence and that is to solve Ghana’s problems”.
