Dr. Thomas Kofi Dompem, CEO of Obibini Blackman Company Limited, has expressed concerns over the worsening economic situation in Ghana, attributing the decline to the leadership of the New Patriotic Party (NPP).
In a recent interview on the Ghanakoma morning show on Akoma 87.9FM, Dr. Dompem highlighted how the economic challenges, which began under the National Democratic Congress (NDC), became more severe after the NPP took power.
The Ashanti Region, where Dr. Dompem operates, has long been a vital economic hub for Ghana. It is home to a high concentration of business owners, traders, factory operators, and repairers, making it a critical region for national economic activity.
However, Dr. Dompem noted that the region has not been immune to the economic struggles facing the country.
During his interview, Dr. Dompem discussed how concerns about high taxes, rising port duties, and a depreciating cedi were raised under the NDC administration.
At the time, the cedi’s exchange rate stood at approximately 4 cedis to the dollar, causing significant challenges for businesses and citizens alike.
While the NPP, which later assumed power, criticized these issues, Dr. Dompem pointed out that the situation worsened under the current administration.
“The economic difficulties that started under the NDC administration were supposed to improve when the NPP came into power, but the reality has been different. The situation has only gotten worse, and businesses, especially in regions like Ashanti, are feeling the pressure,” he explained.
The growing financial instability has led to a ripple effect across various sectors, with many businesses struggling to stay afloat.
Dr. Dompem stressed that the government needs to take more decisive action to address the root causes of the economic downturn, such as excessive taxation and a lack of support for small and medium enterprises. His comments shed light on the broader national economic crisis, suggesting that the promises of economic improvement under the NPP have not materialized as expected.
As the country grapples with high unemployment rates, inflation, and a weakening cedi, citizens are calling for urgent measures to reverse the current economic trajectory.
The interview ended with Dr. Dompem calling for more transparency, better economic policies, and stronger support for local businesses to ensure sustainable growth for Ghana’s future.
He emphasized that addressing these challenges requires a collaborative effort from both the government and the private sector to create a stable and prosperous economic environment for all Ghanaians.
