WE'RE WATCHING THIS DEAL

THE government has declared its intention to put a large percentage of the money from the sale of majority shares in Ghana Telecom in capital investments to enable both present and future generations to benefit from the sale.
The Minister of Finance and Economic Planning, Mr Kwadwo Baah-Wiredu, cited the construction of 15 km of tarred roads in each of the 230 districts of the country and the construction of first-class roads in all the cocoa-growing areas of the country as examples of such projects.
In the heat of the public debate on the issue, a prominent economist, Mr Kwame Pianim, underlined the importance of the deal, describing it as crucial for the sustenance of the Ghanaian economy, in a period when global food and energy crises were threatening to erode economic gains made in the past.
While the issue of the sale of GT has indeed polarised our society, it is worthy of note that the rifts that seem to have been created are gradually being sealed and the enlarged GT group seems poised for a fresh take-off.
The DAILY GRAPHIC welcomes these positive developments, and urges the government to remain committed to its pledge to invest a large part of the money from the sale of the 70 per cent stake in GT in projects that will benefit all Ghanaians.
Clearly, the justification for the sale has been well articulated but the force of any such justification pales into insignificance, if the money accrued is not put to good use to ensure that there are real and tangible benefits from the sale.
Indeed, the recourse to selling property is not in itself alien and traditionally families have had reason to sell properties in order to invest in other areas. In some instances, properties like jewellery, electronic products or even land have been sold to raise the needed capital to either invest in the education of children or pay off debts owed by some members of the family.
The benefits of such investments have been felt after beneficiaries have come out as noble and resourceful men and women in society and even helped their parents acquire more properties.
Thus, the sale of GT will not be out of place, if the money from the sale is put to very good and effective use.
In this regard, the DAILY GRAPHIC urges the government to institute very stringent monitoring systems to ensure that at every stage of the utilisation, monies invested can be well accounted for.
Now that the government has declared its investment preference, it behoves Ghanaians to hold our public officers accountable and ensure that there is value for money that accrued from the GT deal.
It is important to bear in mind that the governance process does not only involve public officers but also the ordinary Ghanaian who has a duty to follow with keen interest, development projects in their communities.
As we sensitise Ghanaians and the government to the need to remain committed to these ideals, the DAILY GRAPHIC also commends Vodafone for making good its financial obligations in very good time.
If this is an indication of what the future holds, then the prospects for a good working relationship between Vodafone and the government of Ghana as the minority share holder in the enlarged GT Group, look bright.
We wish to encourage the two parties to continue in this spirit and work with commitment to establish the new telecommunication entity that has emerged from the sale as a leader in the industry.
The Daily Graphic calls on Ghanaians to monitor the use of the revenue from the sale of GT so that this transaction does not end up like the previous divestiture of state properties whose revenue has not been accounted for up to date.