Business News of Thursday, 27 April 2023
Source: www.ghanaweb.live
Today in History: Elon Musk could've paid off Ghana's national debt - Sam George on Twitter sale
Elon Musk buys Twitter
The Member of Parliament for Ningo-Prampram, Samuel Nartey George, stated that the amount of money Elon Musk used in acquiring Twitter
"Elon Musk could have simply paid off Ghana's national debt and we give him @GabbyDarko (Gabby Asare Otchere-Darko's) position. Herh! People get money oh, legitimate money!," he wrote on Twitter.
Read the full story originally published
Read full article
The April 25 agreement for the sale of social media platform, Twitter, to Tesla founder, Elon Musk, continues to elicit reactions across the world.
Samuel Nartey George, Ningo-Prampram Member of Parliament, will not be left out as he used the same platform to express his views on the impending sale, pegged at US$44 billion.
He weighed in on what the amount could do for Ghana's national debt adding that the country could have given Musk a top position in exchange for paying off our debt.
The MP shared a CNN business story about the sale on his Twitter timeline with the caption:
"Elon Musk could have simply paid off Ghana's national debt and we give him @GabbyDarko (Gabby Asare Otchere-Darko's) position. Herh! People get money oh, legitimate money!"
Otchere-Darko, a leading member of the governing New Patriotic Party, NPP, and a relation of the President is largely referred to in opposition circles as the 'Prime Minister' of the country - pointing to his influence in the government despite not holding any position.
Ghana's public debt stock at over US$45 billion
Earlier this month, Ghana’s public debt stock in terms of Gross Domestic Product ratio reached the 80 percent mark.
The development was announced after the Bank of Ghana in its March 2022 Summary of Economic and Financial Data said the debt stock reached GH¢351.8 billion in December 2021 which is equivalent to about 80.1 percent of GDP.
The equivalent amount in US dollars comes up to over US$45 million - a billion off the amount Musk is paying for control of Twitter.
Country Director for the Bank, Pierre Laporte earlier speaking at a public lecture on March 7, 2022, said Ghana’s public debt situation might have changed due to increased government borrowing.
“The data as we know is close to 80% of GDP. Probably, now as we speak, it might have exceeded” he stated.
Over in Nigeria, social media users called on Elon Musk to make a bid for Nigeria instead.
The Minister said that he would ensure that all is done to resolve the matter.
