The Asantehene, Otumfuo Osei Tutu II’s Atenehene Nana Atonsa Yiadom, has called for the institutionalization of a national policy agenda to foster long-term economic growth and stability in Ghana.
Speaking at a recent gathering of prominent business leaders and policymakers, the chief who also doubles as the Denasehene a town along the Kumasi-Offinso road in the Ashanti region emphasized the need for continuity and consistency in economic policies to attract investment and stimulate economic growth.
‘We need to move beyond the cyclical nature of policymaking, where every new administration brings its own set of policies, often contradicting those of its predecessor,’
‘This unpredictability creates uncertainty for businesses and discourages long-term investment.’
The Asantehene’s Atenehene call comes at a time when Ghana is facing significant economic challenges, including rising inflation, debt distress, and high unemployment.
He argued that a comprehensive and institutionalized national policy agenda would provide a clear roadmap for economic development, ensuring that policies remain consistent across administrations and are not subject to political whims.
‘A national policy agenda should be based on extensive consultations with stakeholders, including business leaders, economists, and civil society organizations,’ he suggested.
‘It should be a document that outlines the country’s long-term vision for economic development, with clear objectives, strategies, and timelines.’
Nana Atonsa Yiadom also highlighted the importance of building strong institutions to implement and monitor these policies. ‘We need to create a culture of accountability and transparency, where institutions are empowered to enforce the national policy agenda and ensure its effective implementation.’
Nana’s call has been met with widespread support from various sectors of Ghanaian society. Business leaders have expressed their commitment to working with the government to develop and implement a robust national policy agenda. Economists have also welcomed the call, emphasizing the need for a long-term economic vision that transcends political cycles.
It is expected that the government will engage in consultations with stakeholders to develop a comprehensive national policy agenda. This will require a concerted effort from all parties involved to ensure that the agenda reflects the needs and aspirations of the entire nation.
The chief’s call serves as a powerful reminder of the importance of long-term economic planning and institutionalization of policies. By creating a stable and predictable policy environment, Ghana can attract investment, stimulate growth, and ultimately achieve its economic aspirations.
