The National Democratic Congress (NDC) has unveiled plans to prioritize private-sector initiatives in its next government, aiming to reduce government involvement in business operations. Speaking on Joy News’ PM Express, Isaac Adongo, the spokesperson on the economy for NDC flagbearer John Mahama, emphasized that a lean government would free up significant resources for other ventures.
“The idea of running a lean government will save the country a lot of money to channel into other ventures,” Adongo stated, highlighting the party’s commitment to efficient governance.
Adongo defended Mahama’s 680 campaign promises, asserting their realism and achievability. “It’s not the number of promises, it is the quantum of the envelope. If you look at the programs that we have planned and the policies that we have put together that are geared towards providing some level of realignment, you would understand that this can be funded,” he explained.
The NDC has been transparent about its strategy to fund development projects, leveraging Public-Private Partnerships (PPP) and development finance. Adongo cited successful projects from the previous Mahama administration, such as the $1.5 billion development of the Tema Harbour (MPS) and the construction of Terminal 3, accomplished without burdening the government budget.
He elaborated on the party’s approach to infrastructure projects, such as the dualization of the Accra-Kumasi road, stressing the role of the Ghana Infrastructure Investment Fund (GIIF) and partnerships with multilateral institutions. “If we say that we want to set up a vehicle, government becoming a stakeholder with $500 million, use the $500 million to leverage another $500 million that gives you $1 billion. With that $1 billion, if the road from Accra to Kumasi is $400 million, what you need is that government is bringing $200 million and the private sector investors are bringing $200 million,” Adongo illustrated.
Addressing concerns about private sector involvement during a time when Ghana’s creditworthiness is in question, Adongo expressed confidence in the private sector’s risk management capabilities. “I trust the private sector more than government because the private sector has certain attitudes and principles and risk management beliefs that allow the investor to recoup his money. And we want to introduce programs that allow us to leverage this private sector arrangement without necessarily suffering the long hand of government in those activities,” he concluded.