Monday, 2 November 2015

Should GREDA Not Expand Into Equatorial Guinea And Gabon?

In my late teens, I came across a dynamic young trader, who dealt in building materials,  and was blessed with lots of charisma. At the time he cut quite a dashing figure and drove a Mini Minor - with the phrase "Run Baby Run" emblazoned across the rear windscreen.

We admired him greatly, and had absolutely no doubt, that he would become an extremely wealthy businessman, in future.

Although he was not the scholarly-type, it was obvious that he was incredibly intelligent. Shortly after meeting him, he built his first house a few meters away, from the then very popular Swanlake supermarket at North Kaneshie. He would eventually go on to build and sell hundreds of houses.

That young trader is now the CEO of Devtraco Estates, one of the biggest real estate companies in Ghana today. Astute businessmen like Devtraco's Mr. Joseph Adu, hold the key to making Ghana an economic powerhouse in West Africa.

There is no reason on earth, for example, why the Ghana Real Estate Developers Association (GREDA), should not present President Theodore Mbiang, with a proposal to build housing estates that will enable Mbiang's regime to provide modern accommodation for virtually all of Equatorial Guinea's population - something that will enable his regime to use some of Equatorial Guinea's accumulated oil and gas revenues to improve the standard of living of his people.

If GREDA finds conditions in the housing sector of our national economy difficult because of high interest rates and endless taxes, that need not necessarily lead to a slump in that sector - if the association looks for business in places like Equatorial Guinea and Gabon for the most capable of its members.

If they get such government contracts the African Development Bank might be willing to fund GREDA's members - as part of its drive to grow Africa's private sector.

With business genuises like the Joseph Adus comprising its membership, GREDA can effectively compete with even the Chinese in places like Equatorial Guinea and Gabon -  if our government lobbies the leaders of such oil-rich African nations on GREDA's behalf.

Will that not help reduce youth unemployment in Ghana somewhat - as skilled Ghanaian artisans usually given sub-contract jobs here by GREDA's members would be given work in those nations too?

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