A flagbearer hopeful of the New Patriotic Party (NPP), Dr. Owusu Afriyie Akoto, has outlined a business strategy that is aimed at providing financial resources to the party to make it more robust to thrive in a globally competitive environment.
It involves the setting up of a chain of party-owned businesses at the national, regional, and constituency levels to be managed by a holding company.
These businesses would generate revenue to run the party, as well as provide gainful employment opportunities for its members to alleviate their plights.
In the view of Dr. Akoto, the strategy, which he christened ‘Linking Party to Government’, was the best sustainable means of effectively managing the party at all levels.
The former Minister of Food and Agriculture made the promise while interacting with party delegates from the Cape Coast South Constituency during his Central Regional campaign tour last week.
KMT of Taiwan
The Kuomintang (KMT), or Nationalist Party of Taiwan, amassed a vast business empire of banks, investment companies, petrochemical firms, and television and radio stations.
The party, which is currently struggling financially, was thought to have made it the world’s richest political party at a point, with assets once estimated to be around $2 to $10 billion.
ANC in South Africa
Chancellor House Holdings is a private company committed to generating wealth through prudent and viable investment opportunities for shareholders, including mining and other assets of South Africa’s African National Congress (ANC) Party.
However, it does not invest in companies that tender for any work or conduct procurement directly or indirectly with any of the RSA’s National, Provincial and Local Government spheres, Government Agencies and State Owned Entities.
RPF in Rwanda
Crystal Ventures, the Rwanda Patriotic Front’s (RPF) holding company, has investments in everything from furniture to finance.
It owns the country’s biggest milk processor, its finest coffee shops, and some of its priciest real estates.
Its contractors are building Kigali’s roads. There are several firms offering security services in Rwanda, but the guards from ISCO, part of Crystal Ventures, are the only ones who tote guns.
The company is reckoned to have some $500m of assets.
Up to the late 80s, political parties owning businesses was common in several countries around the world.
While campaigning to become National Chairman of the NPP, Mr. Freddie Blay promised to provide buses for the constituencies to run commercial transport businesses to financially equip the party at the grassroots level to ensure that strong and effective structures were put in place.
NPP Ghana
Last year, Mr. Blay revealed that 100 buses, financed by a bank, were brought into the country.
Dr. Akoto’s plan for a holding company to manage a wide range of party businesses is more comprehensive and forward-looking. He is confident that when well implemented, it would go a long way in ending the sufferings of party members.
The former two-term Member of Parliament (MP) for Kwadaso told the delegates that workers in all the party-owned businesses at the various levels would be party members.
Dr. Akoto urged the delegates not to put any premium on candidates who had been promising to pay salaries to polling station executives, and those also promising to give ten appointments each to all the 275 constituencies when they become flagbearer of the party, and subsequently, President of Ghana.
“Don’t let anyone deceive you with a promise of paying you salary when elected. It is a fallacy. What I have outlined is sustainable and the best way to resource you financially. My vision is the best. It is globally accepted and is done in South Africa, Taiwan, Rwanda, and Israel among others,” he said.
Dr. Akoto said none of his competitors possessed the means to address their plight better than him, stressing that: “I have served the NPP well in all capacities and I feel your burden more than any other flagbearer hopeful. A vote for me will bring all these sufferings to an end because I understand what you are going through at the polling stations.”
By Stephen Odoi-Larbi
