Dr. Y.K. Amoako, president and founder of the African Center for Economic Transformation, has warned that the monetisation of party politics in Ghana is depriving the country of the rapid development it deserves.

Speaking at the National Economic Dialogue in Accra on Monday, 3rd March, Dr. Amoako called on political leaders to organise politics without resorting to financial incentives, which he believes undermine the country’s progress.

"The increasing monetisation of our politics has driven incidents of party capture and corruption as well as cronyism leading to poor service delivering and accountability," he said.

Dr Amoako believes that this practice is one of several factors that have continued to deprive the country since the demise of the first President, Dr Kwame Nkrumah. He urged both the current and future governments to change this narrative and guide Ghana towards becoming a middle-income country.

The National Economic Dialogue, organised by the government, aimed to gather ideas and insights from various stakeholders on how to rebuild and strengthen Ghana’s economy.

The two-day event brought together politicians, economists, business leaders, influential personalities, and Civil Society Organisations gathered at the Accra International Conference Centre to discuss key issues affecting the nation.

Dr. Amoako, during his address, expressed concern that the growing trend of monetising politics was having a detrimental effect on Ghana’s development trajectory.

He stressed that political parties should focus on policies and governance that genuinely benefit the country and its citizens, rather than prioritising financial interests.

He also emphasised the need to end illegal mining in the country and ensure good governance, as both are crucial for making Ghana a middle-income country.