Ghana's GDP was $74MUSD in 2008 which represented a 7.8% growth, alot of African countries had considerable GDP growth including Kenya but we have experienced decline in incomes, employment, health etc, why? The reason between 35 and 60% of African economies are owned by foreigners which means that 35 to 60% of the GDP growth leaves the country. Back in the day the economist used Gross National Product (GNP) were they argued that you need to deduct the foreign participation from the GDP to know the real impact on the local economy.

To your point, my submission is that we neeed to have some considerable and in my view "majority" level of local ownership of the productive sectors of our economy in order for GDP to make sense, otherwise we need to find ways of dealing with "capital flight" otherwise we would create jobs etc but the return effect would be minimal. In the same way we want to create jobs etc, we need to also seek simultaneously to own the ventures that create the jobs.

Eric here

On 4 Jun 2009, at 09:15, bitange@jambo.co.ke wrote:

Prof. You raise good questions. In my my view, the question on foreign
ownership should not arise now when we have thousands of our youth
jobless. Most of those who would work in foreign owned enterprises are our
future entrepreneurs. They will have the opportunity to learn through the
ropes before embarking on an expensive venture.

We are focusing the resources into infrastructure now but in the next few
months, we begin to address capacity development. This has been on our
rader as we developed the Multimedia University. We did not have funding
to push the two development aspects concurently. I am open for
suggestions.

The SEZ policy is ready at Trade Ministry. The Law to establsh the
incentives is underway but nevertheless we shall leverage on the current
EPZ Law.

Regards

Ndemo.

Dear Dr. Ndemo,

Attached is material to guide theme 2 of e-discussion on BPOs. Any
comments so far? Best wishes.

Tim Waema

On Sun, 2009-05-31 at 08:28 +0300, Prof. Waema wrote:
Dear Dr. Ndemo,

I hope this finds you in a good state of health.

Attached is the first theme of the BPO e-discussions over KICTANET
FYINA. We have 5 themes which will be discussed over a two week period,
starting Tue June 2nd.

Please note that we have changed the day of the stakeholders' workshop
to Wednesday July 1st. You had agreed to be the guest of honour with the
earlier date. Please confirm that you can still be the guest of honour
to open the workshop on this new date.

Best wishes.

tim waema

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