At the 71st Annual New Year School & Conference organised by the University of Ghana on the theme “Attaining Ghana Beyond Aid: Prospects and Challenges”, the Senior Minister, Hon. Yaw Osafo-Maafo, reiterated that Ghana as a middle income nation cannot depend on aid forever hence H.E. Nana Akufo-Addo’s vision of Ghana Beyond Aid is to create a prosperous and self-confident Ghana.
Ghana Beyond Aid (GBA) is transforming our economy and growing out of dependency mindset. Our own resources must drive our development and economic transformation.
He said “Aid and any external support will have to supplement and be guided or determined by our vision and efforts”.
GBA is necessitated by certain elements that dwindles our efforts to develop faster.
For instance Aid received by Ghana in 2010 has reduced from 5.6% of GDP to 2.9% in 2017. Grant has also reduced from 3.7% of GDP in 2010 to 2.3% in 2017. The figures show we cannot depend on aid for our development.
” The Ghana Beyond Aid agenda will more than ever require the private sector to be an active partner in the transformation process. Rebuilding a prosperous Ghana cannot be the burden of government alone, even more so it should be the private sector that should be encouraged to carry the greater burden of the investments required” by Dr. Ishmael Evans Yamson.