Renowned economist and elder statesman, Kwame Pianim has lamented Africa’s failure to translate its rich natural resources into concrete socio-economic development.
Explaining the lack of progress on the continent and Ghana in particular, Mr. Pianim blamed the situation on poor leadership.
He therefore called for a concerted effort by all to lift the country out of what he described as self-inflicted social and economic challenges.
He made the observation at this year’s annual leadership lecture organised by the University of Professional Studies, Accra (UPSA) on Monday, December 11, 2023.
The public lecture was themed “Re-imagining Ghana’s development trajectory for a peaceful prosperous nation by 2057; Our 100th anniversary, through the perspective of the people.”
“It has become increasingly and painfully evident that the leadership deficit in Africa is very expensive,” Mr Pianim said.
“Ghana and Korea started at the same level of per capita income around 1960. We were higher. 62 years later, Korea has a GDP per capita of 33,000 USD and Ghana has 2000 USD.
“The leadership deficit cost is 30,000 Dollars per head of every Ghanaian. People like me and the political leaders of this country owe a reparation to each Ghanaian, the cost of the leadership deficits.”
Mr. Pianim also chastised successive governments for what he described as economic carelessness, stressing that the practice of borrowing to finance Ghana’s economic deficit “was not sustainable.”
“A major cause of Ghana’s persistent macro-economic instability had been insistence of governments on spending some 27% of GDP while able to raise only some 15% of GDP in taxes and grants,” he lamented.
The Vice-Chancellor of UPSA, Prof Abednego F. O. Amartey, noted that there is the need to reflect on quality leadership on all fronts and at all levels to help navigate the turbulent times the nation faces.
He cited the COVID-19 pandemic, the Russia-Ukraine war, and recent Israel-Hamas war as some major factors which have contributed to global economic meltdown including Africa.
Prof Amartey said “the Annual Leadership Lecture therefore provides an intellectual platform for distinguished individuals to critically examine, deliberate and discuss critical global and national issues pertinent to the society and to proffer solutions for Ghana’s sustainable development.”
Over the years, distinguished speakers such as Dr. Mohamed Ibn Chambers, former President John Agyekum Kufuor, Asantehene Otumfuo Osei Tutu II, and Cardinal Peter Kodwo Appiah Turkson have shared insights on critical global and national issues, making the lecture a significant annual event.
This year’s lecture highlighted how leadership can reimagine the Ghanaian economy on an upward trajectory of sustainable development for the present and future generations.
It was attended by academia, traditional authorities, civil society organisations and dignitaries such as a former Speaker of Parliament, Edward Doe Adjaho; a Ghanaian football administrator and politician, Dr. Nyaho Nyaho-Tamakloe, as well as staff and students of UPSA.
