A Former Finance Minister, Dr. Kwesi Botchwey has condemned the politics of vindictiveness he says has stifled the contribution of the private sector to the development of the country.
The Economist, who served under former President Rawlings’ PNDC and NDC administrations, says new governments have been quick to ensure the demise of private businesses that are perceived to belong to persons opposed to the ruling party, a factor he says is responsible for the slow growth of the economy.
Dr. Botchwey was speaking at a special congregation to climax this year’s Kwame Nkrumah Memorial lectures at the University of Cape Coast.
“We say we want a private-sector-driven economy – it can’t come about without entrepreneurs – and yet we have established a culture in which every time there is transition from one government to the other many entrepreneurs either flee or are rendered bankrupt. And this is not always because they have done anything wrong. So how on earth are we going to develop a private-sector-driven economy when entrepreneurs must go into hiding as soon as the party of their choice loses power? he asked.
The former Finance Minister said, “We can reward followers of our parties without necessarily crushing [our] opponents.”