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With the inflation rate skyrocketing at a very high speed, and the Cedi getting weaker and weaker on the local and international markets, the government of Ghana is in a very big trouble, so far as this economy is concerned. It appears that this government painted Ghana as Heaven to Ghanaians prior to assumption of power in 2016, and now the situation of Ghana is indescribable! Ghanaians who had so much trust in the Akufo-Addo-led administration have already started to renew their trust and possibly invest it somewhere else. As it stands now, the economic outlook of mother Ghana is dwindling, and if care is not taken, it will worsen towards the end of the year. That is why some may consider the Ghanaian economy as one that is on the conveyor belt of moving backwards!
What we need currently is a group of practical and experienced intellectuals in economic analysis and evaluation to rethink a better way to reengineer this economy and bring it back to normal, at least in the medium term. Maybe the government can explore and fish out some of these personalities from the academic environment, rather than focusing so much on people with vested interest in politics.
In this article, we are going to go back to history, and comprehensively appreciate and unfold the life chapters of a man whose name can never be forgotten in the historical books of Bank of Ghana (BoG) and Bank of Gold Coast (BGC).
Before the Central Bank, also known as the Bank of Ghana was established by the Bank of Ghana Ordinance (No.34) of 1957 and passed by the British Parliament on March 4, 1957, this man we are talking about today was the Managing Director of the Bank of Gold Coast in the early 1950s.
Alfred Eggleston handled this great task and made sure that the Ghanaian currency was strong at that time, together with Leslie McCarthy, who was the Chairman of the First Board of Directors of the Bank of Gold Coast.
They did not do that alone; other great banking intellectuals like J.W. Williams, H. Millar-Graig, J.A. Opoku Obe, J. Sakodee-Addo and Anim Addo also played a very critical role in that regard. The group was supported by another banking giant from the Imperial Bank of India. He hailed from Scotland.
When the Bank of Ghana emerged from the Bank of Gold Coast, these personalities excellently managed and controlled its affairs:
Alfred Eggleston (as the Chairman and Governor), Douglas F. Stone (as the Deputy Governor), C. Parkin (as Director), Dr. N.T. Clerk (as Director), E. Osei (as Director), and S. Blay (as Director). They are the first Board of Directors of BoG.
With an indestructible support from Osagyefo Dr. Kwame Nkrumah and other key economic players and managers, they were able to parachute the Ghanaian economy at that time. The lives of Ghanaians were better because the economy was looking great. So why can’t we learn from these people and make things better?
I think Dr. Ernest Addison and his team must put up their “A Game” and rescue Ghana from this economic mess!
Content created and supplied by: Ghana’sthirdeye (via Opera
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