On December 31, 2019, the late former president of the Republic of Ghana, Flt. Lt. Jerry John Rawlings, outlined that what is practiced as capitalism form of governance in Africa in actuality is just an avenue for thieves to amass wealth for themselves at the expense of the general public.

He was speaking to climax the 38th anniversary of the December, 31st 1981 coup d’etat celebrated at the Winneba Lorry Park.

Read the full article as first published by ghanaweb.com below:

Former President, Jerry John Rawlings has described the African capitalism form of governance as an avenue for thieves to amass wealth for themselves at the expense of the general public.

According to him, he will one day take his time to explain the differences between private capital or capitalism and socialism adding that people would realise that from America through to Europe, there is accountability with the practice of capitalism.

“When we say we are practising capitalism in Africa, then we must be careful because the leaders tend to steal from the masses and for entrepreneurs, next time I will explain what we mean by saying private capitalism or socialism for you to know how it is used in Africa. Do you think that we are doing capitalism?” he quizzed.

“From America right across to Europe to the Soviet Union, there is accountability so when Africa says they are practising capitalism, look at it well because thieves are stealing from us in the name of capitalism. Rape, thievery is what they call capitalism,” Mr. Rawlings explained.

The Former President said this while addressing a durbar to climax the 38th anniversary of the December, 31st 1981 coup d’etat on Tuesday, December 31 at the Winneba Lorry Park.

Mr. Rawlings also reiterated that he believes that the system in our part of the world only benefits a handful of people rather than the majority in the continent.