The Executive Director of Global Info Analytics, Musa Danquah, has underscored the need for Ghana to leverage Public-Private Partnerships (PPPs) as a strategic tool for infrastructural development.
Mr Danquah reacting to the Minority Caucus in Parliament’s opposition to the Ministry of Works and Housing’s proposal to subject the Saglemi Housing Project to a public-private partnership arrangement to ensure its completion, strongly argued that with the state of the country’s economy, public-private partnership is the most sustainable way for the country to undertake major development projects.
Highlighting the essence of public-private partnerships, Mr Danquah emphasized that public-private partnerships across the world play a very pivotal role in catalyzing development, especially in economically challenged environments.
He asserted that public-private partnerships represent a viable pathway for countries facing fiscal constraints, providing a means to circumvent financial limitations and effectively execute public mandates.
Commenting on prevalent challenges hindering public-private partnership effectiveness in Ghana, Mr Danquah cited governmental apathy and bureaucratic delays in project approval processes as major impediments to the successful implementation of public-private partnership arrangements in the country.
He lamented the lack of seriousness accorded to public-private partnerships by successive administrations, which he noted has resulted in poor implementation of projects under public-private partnership arrangements in the country.
According to Mr Danquah, the situation has gone a long way to further undermine the potentials of private investors in the country.
“PPPs are the way to go when a country is broke. Without PPP, there would not have been a Ghana Card. In fact, the problem we have in PPPs in Ghana is lack of seriousness governments have attached to PPPs and the slow pace of APPROVAL that annoys private investors”.
Musa Danquah, Executive Director Gloabl Info Analytics
Furthermore, Musa Danquah, the former Executive Director of Commercial Finance and Business Support for Margins ID Groups criticized the absence of innovative contractual and financial frameworks within Ghana’s public-private partnership landscape.
He argued that the prevailing mentality of governments seeking disproportionate shares of project profits without commensurate risk-sharing undermines investor confidence and stifles project viability.
Drawing parallels with the United Kingdom’s adoption of Private Finance Initiatives (PFIs) during its economic downturn in the late 1980s, Mr Danquah underscored the transformative potential of PPPs in revitalizing dilapidated infrastructure.
He emphasized that countries grappling with fiscal constraints, such as Ghana under the International Monetary Fund oversight, require alternative mechanisms like public-private partnerships to address pressing developmental needs.
Calls for Government to Adopt Competitive Tendering Process
Moreover, the Executive Director for Global Info Analytics, Musa Danquah admonished the Ministry of Works and Housing under the leadership of Honorable Kojo Oppong Nkrumah to eschew any sole-sourcing regime in its plans to subject the Saglemi Housing Project to public-private partnerships arrangement.
He noted that if under any circumstance the Ministry of Works and Housing adopt a sole-sourcing regime for its proposed public-private partnership, the risk of the projects being awarded to unqualified individuals or cronies, which could compromise delivery and exacerbate public distrust would be high.
Mr Danquah strongly advocated for transparent and competitive tendering processes to select private partners for the Saglemi Housing Project, cautioning against sole-sourcing arrangements to prevent favouritism and ensure project efficacy.
The seasoned financial consultant concluded by urging the government to heed the call for PPP adoption, as it is the most pragmatic solution to expedite infrastructural development and foster sustainable growth in the country.
He emphasized the need for collaborative efforts between the public and private sectors to realize Ghana’s development aspirations and propel the country towards prosperity.
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