Franklin Cudjoe, President of IMANI Africa, has stated that he would never accept an invitation from any president or minister to serve on a committee or board unless they are genuinely committed to taking well-researched advice.
Reflecting on his experience with the National Democratic Congress (NDC) Committee on Weaning off potentially profitable but underperforming government agencies from the payroll, Cudjoe mentioned that it began on a difficult note.
He revealed that, at one point, he had to step down from the committee in protest of the then Finance Minister, Seth Terkper’s interference, which he believed undermined their work.
“I came back to the committee after a letter was officially written by the CEO of the Fair Wages and Salary body and a phone call plea from the minister for labor and employment at the time, Hon. Ashitey”.
“I rejoined the committee, and together with the other members, we did an amazing job, saving the public purse almost GHC 220M. Sadly, when the NPP took over in 2017, they led by Ken Ofori-Atta didn’t build on the body of work”.
Franklin Cudjoe
Franklin Cudjoe remarked that, instead of streamlining government operations, Ghana ended up with its largest government to date.
He noted that this administration was flooded with numerous private sector finance individuals and protégés of Ken Ofori-Atta, who were appointed to key ministries, departments, and agencies.
According to Franklin Cudjoe, these individuals benefited from lucrative, corporate-style wages, enriching themselves through government positions.
Franklin Cudjoe explained that his decision to join the Foreign Exchange Development Committee stemmed from a deep respect for the former finance minister who established it.
However, he indicated that his participation was based on the expectation that the committee’s recommendations would be taken seriously and implemented for the country’s economic benefit.
Franklin Cudjoe Clarifies Committee’s Role
Furthermore, Franklin Cudjoe explained that the committee’s mandate was to analyze trends and developments within the foreign exchange market and offer recommendations on what the finance ministry could do to improve the situation.
He stated that although the committee did not meet frequently, its members were eventually asked to submit their recommendations.
These submissions, Franklin Cudjoe indicated, were meant to guide the ministry in implementing strategies to stabilize the forex market and strengthen Ghana’s economic position.
“Frankly, many of the recommendations, verbal and written, were standard and publicly available information, so really, there was no need for the committee to have been set up. Thankfully, no committee members receive per diems, not even lunch”.
“Well, the committee died naturally, but the Ghanaian cedi has not done well against the major international currencies”.
Franklin Cudjoe
Franklin Cudjoe asserted that the Ghanaian cedi can be stabilized and that politicians are well aware of the necessary steps.
He emphasized that rather than relying on short-term solutions, a genuine restructuring of the economy is needed, one that focuses on boosting productivity and investing in value-added sectors.
Cudjoe highlighted that this requires creating a more business-friendly environment by reducing the cost of doing business, cutting down on corruption and bureaucratic red tape, and ensuring a leaner, more efficient public service.
These measures, he argued, are essential to fostering sustainable economic growth and strengthening the cedi.
Franklin Cudjoe made it clear that he would never have agreed to serve on the National Cathedral board, as he believed the project lacked proper research to justify its execution.
Cudjoe also criticized the decision of Apostle Prof. Opoku Onyinah, a respected religious leader, for accepting a position on the Cathedral board.
He argued that by doing so, the Apostle compromised his principles, referring to the move as “drinking the Kool-Aid” and questioning his judgment in supporting a project.
“Sorry Osofo, now you’ll need to send your visitors to the cathedral site for baptism. That is if he is still a member of the beleaguered board of the President’s Cathedral”.
Franklin Cudjoe
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