Fake Investors Milking Agric Sector Dry
Mr. Issa Ouedraogo, are nowned social entrepreneur deeply involved in Ghana’s Agricultural sector, has called on the government to probe and urgently deal with rogue elements derailing the country’s efforts in the sector.
He alleged that some indigenous lawyers and local banks are constantly conniving insidiously to milk the country’s Agricultural sector dry, hence the weak performance of agriculture in the country.
According to the founder and chief executive officer of Building Business on Values, Integrity and Dignity(B-BOVID), until Government of Ghana identifies these abnormalities creating needless lacuna along the value chain of the Agricultural sector, and stem the tide, nothing significant would be achieved, while the pockets of individuals fronting for fake foreign investors as lawyers and banks would continue to get full.
These irresponsible local financial institutions, according to him, would continue to whitewash the surface of the fiscal policy regime, and, beneath their activities, they would continue to connive with fake foreign investors to short-change the country in various ways.
Mr.Ouedraogo made the call when he addressed participants at the Ghana Social Enterprise forum held last Friday November 18, at the British Council, under the theme:“Partnerships for sustainable development: social enterprises as catalysts for inclusive growth in Ghana.”
In his address, the obviously angry entrepreneur, who narrated his terrible experience and practical issues with all the aforementioned in the last 17 years, pointed out that foreign direct investment into Ghana’s Agricultural sector appears good in the books, but lacks clarity, conformity and integrity.
He cited his personal engagement with one French organization which came into the country as social impact investors and cunningly took over the company he personally struggled to birth in the last two decades with his sweat and toil without the support of any government institution.
He argues that government must consider investigating the modus operandi of some of these firms to ascertain if indeed these companies are decent enough and will not hold sway over Ghana sway in its underhand dealings with local and foreign partners.
All these negative developments, he underscored, would continue to work imperviously against the Agricultural sector and ultimately the national economy.
He, therefore, cautioned all stakeholders working in the Agricultural industry to guard against entertaining diatribes, selfishness, excessive greed, and ignorantly promoting fake investors who clandestinely might be conniving with desperate lawyers to milk the Agricultural sector dry.
He wants government to create an opportunity for all the above-mentioned issues to be investigated to save the country from sinking further under the guise of foreign direct investment.