Let the brightest and best of Ghana’s younger generation take over the enterprise Ghana

Whenever I talk to the brightest and most dynamic of the younger generation of Ghanaians, I invariably feel very hopeful for our nation's future.

For example, yesterday (Saturday 6/9/2013), I had a conversation with a young friend, who felt appalled that it was virtually impossible for banks in Ghana to know whether or not their clients were in compliance of a slew of regulatory requirements.

Now here is a world-class young Ghanaian, whose creative thinking has enabled him to come up with a brilliant solution, to a problem with huge implications for corporate good governance in Ghana's business world.

What is depressing, is that their generation is not running Ghana - a potentially wealthy nation, hamstrung by a hidebound older generation - many of whose egregious selfishness and greed, has literally brought our nation to its knees.

Political parties in Ghana, would be wise to begin searching for brilliant and dynamic young people, like my young friend, to put into leadership positions - and effect a generational change as quickly as it is practicable for that to be done.

Older generation Ghanaians ought to focus on giving opportunities to high-flying individuals from the younger generation - particularly entrepreneurial types: including young Ghanaians in the diaspora who have done well and built profitable businesses overseas.

It is most unfortunate that radical ideas that could make a difference in the real world, and make our economy grow rapidly, are seldom considered by our ruling elites - so many of whom one gets the impression have calcified thought-processes and as a result are incapable of doing any original thinking.

Why else would piling on yet more taxes on individuals and businesses, be the knee-jerk reaction of the geniuses amongst our ruling elites who happen to be in charge of economic policy, as the best way to heal the economic equivalent of self-inflicted wounds, which their profligate election-time spending amounts to - no matter which political party happens to be in power at any given point in time?

In seeking to rebalance the national economy, and end the perennial crises resulting from the inexcusable election-time fiscal indiscipline we invariably experience for example, why do our ruling elites never once consider abolishing personal income tax, and making Ghana the nation with the lowest corporate tax rates in the world?

Would abolishing personal income tax not put more money in the pockets of working people - whose increased spending power would also result in increased profits for businesses?

And what business in Ghana would be reluctant to pay its fair share of taxes - which pay for our nation's development - if our nation had the lowest corporate tax rates in the world, as well as its simplest tax system?

Would many of the international companies that have their African headquarters in places like South Africa, not move their African headquarters to Ghana for example, were all the above the case?

Would such an innovative policy initiative not be a creative way to widen the tax net in Ghana, I ask?

And would the increase in taxes that that would result in, not make more funds for expanding Ghana's infrastructure, available to governments of the day? And would that not have a positive ripple-effect throughout the national economy, I ask?

My most recent conversation with my young friend, who brims with innovative ideas about making Ghana a business-friendly country - and agreed with my own unorthodox suggestions above - has confirmed my belief that the time has now come for the brightest and best of Ghana's younger generation, to be allowed to take control of the enterprise Ghana.