Ghana Telecom Gone, Eight More To Go

Amidst all the protestations from various interest groups, Ghana’s highly lopsided parliament has sealed the handing over of the heavily under priced Ghana Telecom (GT) to Vodafone, a company believed to have the Midas touch.

But listening to the proceedings in parliament on Thursday, August 14, 2008, one thing which became clear, was that the members of parliament (MPs) thought they were in the amphitheatre. The MPs were at their clowning best. While the National Democratic Congress (NDC) MPs sought to out punch the majority, their counterparts from the New Patriotic Party (NPP) members simply sought to justify the deal with reference to all the wrongs the NDC committed in the past. MPs from both sides simply jostled for a first in the blame game.

In essence, according to the majority MPs, because NDC sold many national assets for a song, it’s their turn to cede the remaining state enterprises to imperialist interests.

Let’s put aside the fact that the most non-performing state enterprise in Ghana today is the seat of government. Let us also put aside the fact that the MPs who have gone into frenzied celebrations after rubber stamping the Vodafone deal were the same MPs who voted for the CNTCI loan which had its address in a wayside hairdresser’s salon. It was also the same group which voted for the phantom IFC (not the International Finance Corporation) loan. So why should we take any actions of these people who have demonstrated over time that they act before reasoning seriously? My only worry is about the title ‘honourable’ they have forcibly conferred on themselves, because honourable men, I believe, act with distinction.

But, sometimes, we don’t have to blame our MPs too much. The level of ‘debates’ in the house simply tells a lot about the quality of materials Ghanaians have been voting into parliament. The GT-Vodafone ‘debate’ even showed it all. It was just half a dozen MPs who did the heckling – mind you, there wasn’t a debate.

Now that GT has been ceded to yet another imperialist interest, there are a few more assets to be sold. So very soon, there may be no more priced state enterprises to be thrown at ‘strategic investors’ like confetti.

We are now left with the Agricultural Development Bank (ADB), the Volta River Authority (VRA), Ghana Water Company (this one is already being mismanaged by the Anglo-Dutch company, Aqua Vitens Rand), Ghana Post Company, Ghana Trade Fair Company (this has also almost been given to some Sultans from the Arabian peninsula), Ghana Consolidated Diamonds Limited, and of course, the seat of government (the Castle). Please note that these enterprises are listed in order of priority and there are some other state enterprises which cannot be sold because they would not attract even a dime if they are offered for sale.

Since the government gave us the inkling that they needed to see the GT sale through so as to shore up the 2008 budget, it stands to reason that we are going to sell others in the future to shore up other budgets. Unfortunately, from the giveaway price of GT, it’s clear that the combined value of the remaining eight companies may not get anywhere close to US$1.0 billion. So after some assets are sold to support the 2009 budget deficit – a phenomenon created by the reckless spending and vulgar extravagance of the country’s leadership, who live like Arabian Kings while continuously telling the ordinary citizens to be biting the bullet, the citizens are going to be in deep trouble.

Please don’t confuse yourself with high hopes about the black gold that has been discovered near the West Cape Three Points. The oil business is a more complex arena. This is where only the big and crafty play and win. Also, don’t forget that already, the government is contemplating the forward sale of the oil. Note that in every forward sale contract, the price of the underlying instrument, in whatever form, is paid before control of the instrument changes.

This is exactly what some people spearheaded at Ashanti Gold and got knighted! Our gold has been sold forever! So why should you have any hope? Mind you, the exact percentage of proceeds accruing to the people of Ghana from the future oil sales is even shrouded in a myth. While some energy connoisseurs say the nation is entitled to between five and ten percent of the proceeds, government spin doctors say we are getting between fifty and ninety percent.

The Ghanaian government can only get 90 percent if it’s our investment that is being used in the entire exploration, discovery and drilling of the oil. Anyway, let’s get back on track.

If it’s true that government has no business running business as government officials have made us to believe over the years, then what business do they have buying the Volta Aluminium Company (VALCO) from Kaiser? Is this not double standard? And of course, what business did they have in wasting national resources on the so-called Presidential Special Initiatives (PSIs)? Well, since the law on causing financial loss to the state has not been repealed, it only stands to reason that some people would have to provide some critical answers to the people of Ghana some day.

If every time, we need to shore up our budget, we have to sell an asset then what happens if the assets have run out? Do we have leaders or we have merchants in charge of the government? I am tempted to say that there is no reason to have a parliament. This parliamentary democracy is proving too costly for the ordinary man.

Although some argue that Ghana’s democracy is maturing, this writer believes that if the hollow display of intellect put up by MPs any time issues about national development come before them is anything to go by, then our democracy is rather developing backwards! Is it the needless heckling that goes with parliamentary discourse that shows maturity or the ‘yea, yea’ that is yelled by the majority of the members who hardly understand the day’s business when an issue is put to the voice vote that proves democratic maturity or what?

Should we not take a second look at the quality of our elected leadership again? Like many other people have said over and over again, Ghana’s leadership has a poverty of ideas. They lack what it takes to deliver the needed solutions to our woes. Our leaders have simply refused to think outside the box!

Otherwise, they would never think that anytime we have a problem, the quickest fix is to sell a state enterprise.

Many a time, if people talk, government spokespersons tell us ‘oh Ghanaians do not have the experience,’ forgetting that experience aligns itself closely with the concept of experiment. And that the more you do, the better you become. So the more we throw our hands off in the air that we don’t have what it takes to profitably manage our enterprises, the more pathetic we as a nation are going to become. Because what matters most to every investor is the bottom line – profit is the motive for every investment.

Vodafone like any other investor is not a Santa Claus. They have stated expressly on their website that they believe that buying over GT would help shore up their slumping fortunes and increase share value for their investors.

As for the naiveté being displayed by some sections of the GT workforce, which claims that they would change their attitude with the arrival of Vodafone, the least said the better. GT workers, character, the elders say, is like a pregnancy, it cannot be hidden. If you deliberately sabotaged the company over the years, please note that your attitude to business has already been moulded. No matter what you do, your character cannot change. The only way to reform your character is your dismissal since you have shown beyond every doubt that you do not work with indigenous ingenuity!

Little wonder US$40 million has ‘been set aside’ to pay off those 2000 of you who have been pencilled to be booted out in the next few months. We jut hope that indeed, you guys are not swindled like the ex-Ghana Airways staff, who five years down the line, at yet to receive their severance pay.

Governments all over Africa never change and I am not going to be fooled into believing that the government of Ghana would change its way of doing things. At least it doesn’t look like there is hope for the people of Ghana in the foreseeable future.

The people protested but the government had its way. The people had their say, through the picketing and the voices of the minority members of parliament, but the majority had its way – never mind the fact that sometimes, majority means only fools on one side! I am not saying this to please any political fanatic, because the tricks being played by today’s government have been seen before. And of course, it was because of the excesses of the former regime that the present government claims that they also have to ‘misbehave’ some more.

What I do know for sure is that the day of reckoning shall come – no matter how long it takes. Adolf Hitler did not know that several decades after his death, not even members of his own family would want to be traced to his bloodline, neither did Idi Amin Dada.

So our leaders can continue with their irresponsible behaviour under the guise of parliamentary democracy, so long as it lasts. We just hope that the generations after them are able to retain their parentage. Because I want to believe that posterity is certainly going to exact penalties for all the ills being committed today!

By Kwabena Mprah Jnr Email: [email protected]