Financial and economic policy analyst Senyo Hosi has made a strong case for supporting local businesses and recognising Ghanaian excellence, particularly in architecture and infrastructure.
In his latest piece sighted by GhanaWeb Business, Hosi discussed how Ghana’s progress in key sectors such as mining, telecommunications, and manufacturing has been hindered by foreign dominance, raising concerns about whether the country is truly in control of its affairs.
He centered the conversation on the significance of Bank Square, the new headquarters of the Bank of Ghana, questioning whether the project represents a remarkable local achievement or merely an expensive investment.
Addressing concerns over the project’s cost, Hosi presented data showing that the expenditure aligns with industry standards when compared to similar private and public sector projects.
He argued that the outrage over the cost, when compared to foreign-built structures, reflects a double standard.
Citing GoldKey’s involvement in the Bank Square project, Hosi described it as a proud moment for Ghanaian businesses, emphasising that it demonstrates both local capacity and global competitiveness.
“When analyzed alongside comparable projects, the cost per square meter of the Bank of Ghana headquarters ($2,068) is lower than that of the private sector Ecobank headquarters ($2,163) and Standard Chartered Bank’s building (above $2,244), or the public sector GNPC’s operational head office ($2,904). Yet, the Bank of Ghana building is a taller and more security-intensive structure.”
As heated debates continue over the cost of the new infrastructure, Senyo Hosi called for a paradigm shift, urging Ghanaians to support local businesses and celebrate their successes, as these are crucial to national progress.
“Rather than tearing down our own, we should celebrate and support Ghanaian businesses that demonstrate excellence. If we are serious about national progress, we must champion local enterprises that prove we don’t need foreign companies to accomplish great feats. GoldKey’s success is Ghana’s success. It is time we recognize that and rally behind our own.”
He stressed that Bank Square should not be seen as a financial burden but as a testament to Ghanaian excellence and a symbol of what local companies can achieve.
Read his full write-up below:
Source: www.ghanaweb.com
