Prof. Gatsi calls for investment in human capital
The Dean of the University of Cape Coast School of Business, Prof. John Gatsi, has called for a long-term investment in the human capital to help transform the economy.
He said in an environment of upgraded use of technology and rule of law, a well mapped-out skills development was key to transforming the economy.
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Prof. Gatsi made the call at the 12th continuing professional development (CPD) and induction ceremony of the Association of Certified Chartered Economists (ACCE) in Accra last Saturday.
It was on the theme: “Analysis of interest payment burden and debt sustainability of Ghana, 2017-2021.”
A total of 46 people were inducted into the association.
They took the membership oath and pledged to abide by the code of ethics and statutes of the association at all times.
The inductees were later presented with certificates to signify their admission to the association.
Unbalanced development
Prof. Gatsi also urged the government to address the unbalanced development of the regions by promoting skills acquisition, especially for the youth.
“Ensure peaceful democracy, bearing in mind that the most secure democracy is the one that assures the basic necessities of life for its people as a fundamental duty,” he added.
According to Prof. Gatsi, the government was sacrificing the toils of the people for economic gains with the introduction of multiple levies, taxes and charges to send a signal to the market that it was ready to manage the economy.
“Indeed, in economic and financial crises as we face today with inflation at over 40 per cent with an uphill interest rate environment within a volatile exchange rate situation, and promising potential increase in non-performing loans, citizens become the scapegoats”, he added.
Prof. Gatsi further said with over 80 per cent debt to GDP ratio and mounting arrears, the government had promised not to default on interest payment on loans because that might deepen capital market closure against the country.
He also said that there was more than 40 per cent food insecurity,13.9 per cent unemployment rate and high vulnerability among workers in the country.
Support
The Registrar of the Koforidua Technical University, Dr Ike J. Nii Annang Mensah-Livingstone, urged the inductees to contribute to the growth of the country.
“You have been inducted at a time when this nation very much needs your expertise, so do not go and hide this talent, use it profitably for the benefit of our dear country,” he added.
The Budget Analyst of the Central Regional Coordinating Council, Bless Kwame Darkey, said the value of the certificate given to the inductees would only be useful when the community benefits from it.
“So let this certificate be something that will lead to the change of this nation because this country has to be changed the right way,” he said.
For his part, the Deputy Director-General in charge of Field Operations at the Internal Audit Agency (IAA), William Offei-Mensah, also advised the inductees to live above reproach.