Prominent Ghanaian businessman Sir Sam Jonah has voiced his concerns about the lack of citizen ownership of important areas of the country’s economy.
He said, there is little Ghanaian ownership in sectors like banking, mining, oil, and telecommunications, which are primarily owned by foreign companies.
For example, there is a dearth of Ghanaian ownership in large telecommunications businesses such as MTN and AirtelTigo. He went on to say that foreign-owned companies, such as Nigerian banks and global firms like Standard Chartered and Absa, control the majority of the banking industry.
Additionally, there are no Ghanaian stakeholders with even a 1% ownership in significant enterprises in the mining and oil sectors.
“That is not the case in the European countries,” he remarked. The citizens are included in important economic areas”.
According to Sir Jonah, the absence of local ownership leads to the repatriation of revenues elsewhere, which could be used to support economic growth and job creation in Ghana.
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He supports intentional government initiatives that promote and facilitate Ghanaian involvement in these vital fields. By doing this, the country may guarantee that its resources and economic endeavors more directly benefit its people, encouraging sustainable growth and lowering its need on outside parties for financial support.
In response to these worries, Sir Jonah highlights the necessity of taking proactive steps to enable Ghanaians to assume leadership positions in crucial industries, strengthening the country’s economic independence and long-term success.
