Dr. Thomas Kofi Dompem, CEO of Obibini Blackman Company Limited, has lamented the devastating impact of the New Patriotic Party’s (NPP) economic policies on businesses in Ghana, particularly in the Ashanti Region.
Speaking on Akoma 87.9FM’s Ghanakoma morning show, Dr. Dompem attributed the collapse of many businesses to the NPP’s poor governance, which he claimed ignored the plight of entrepreneurs in the region.
The Ashanti Region, according to Dr. Dompem, is the “heart of business” in Ghana, boasting a high concentration of economic activity.
“When considering business owners, traders, factory operators, and repairers, the Ashanti Region stands out as a significant hub in Ghana,” he emphasized.
“If you exclude the Ashanti Region, it is challenging to find another area with such concentrated economic activity. This is why, whenever there is an economic downturn or financial instability in Ghana, its effects are most strongly felt in the Ashanti Region,” he said.
Dr. Dompem criticized the NPP administration for exacerbating the economic challenges faced by businesses in the region. Despite the party’s promises to address issues such as high tax rates, excessive port duties, and the weakening cedi, the situation worsened under the leadership of Akufo Addo .
“During the National Democratic Congress (NDC) administration, concerns were raised about high taxes, excessive port duties, and the weakening cedi. At the time, the exchange rate of the cedi to the dollar was 4 cedis, and the NPP criticized these challenges. However, when the NPP came to power, the situation worsened,” he recalled.
Dr. Dompem noted that the high taxes and port duties have forced some traders to seek alternative routes for importing goods, further highlighting the need for urgent reform.
