What Is Wrong????? If Kuffour Even Buy A Hotel To His Own Son?

I have been following Ghana Website in connection of President?s role in what has become known, as the Hotel Kufuor saga.

His son chief Kuffour is a qualify accountant and he is qualify to manage a hotel. Is chief Kuffour not a Ghanaian? The president can support his son if his financial position sounds well.

Why is that all the time we expect foreign investors? Why should we use our tax payer?s money to train professionals in abroad? It seems the motive behind is to train them and come back and use their profession to manage our country for us? For the past six months we have been reading some hotel foreign investors like:-

1. Accra, March 24, GNA - The Government on Thursday announced that it had signed a Memorandum of Understanding (MOU) with New Dawn Resorts Limited, a Ghanaian company, to develop 24.2 hectares of the sea front from the Arts Centre through the Independence Square to the Christiansburg Castle into a beach resort and other amenities. The Project would have at least four resort hotels and other amenities and is estimated to cost about 500 million dollars. Mr Harold D. Holder, Chairman of the Holder Hospitality Group Incorporated, the mother company of New Dawn Resorts Limited, said beyond the employment created by the construction, the complex would target about 1,000 full-time employees, who would be local residents. He explained that the first hotel would be multi-floored and of the quality that would be in keeping with the image and the modernization programme of the Capital City.

2. Accra, April 5, GNA - Government in collaboration with a UK-based company is to establish a four-star hotel at the cost of 45 million dollars in Accra.

International Structures Group (ISG) Limited, a joint venture company with the government of Ghana, is to build the Hilton Hotel, around the Race Course, near the International Conference Centre. It would comprise 285 rooms, six presidential suites, and restaurants/bars with extensive leisure facilities.

The hotel would be managed by Hilton International and is expected to generate employment and training opportunities for over 400 Ghanaians, Mr Harry B. Sintim-Aboagye, local representative for ISG, announced this when the group paid a courtesy call on Nii Nortey Owuo III, Chief of Osu.

3. Accra, June 3, GNA - Ghana and the Management of the Saudi-based Kingdom Holding Company on Friday signed an agreement for the rehabilitation of the Ambassador Hotel in Accra.

4. Through sources Kumasi City Hotel also is underway to be signed an agreement for rehabilitation by some foreign investors

It seems we have to sell the whole continent to Europeans to invest if a head of state son, as professional accountant don?t have right to buy a hotel in his own country.

When an African head of state son intend to invest in Africa there should be investigations, but when an African head of state son transfer money to European banks there should not be any investigations. We have been reading from our media that our former leaders use their girls-friends and their body-guards name to open a foreign account in Switzerland and other Europeans banks. Banks do not sell tomatoes or yams; they depend on savings and investments. It seems we should thank God that the money are been used in Africa even if it is true that president Kuffour invested in the Saga hotel instead of transferring the money to the European banks. We are expecting foreign investors and it seems we are not encouraging local investors.

Just recently, the Travel Channel television listed the best ten hotels in the world. The winner was Mala Mala Game Reserve in South Africa. Who owns the best ten hotels in the world? It was a white South African. I don?t think that the owner?s use their salaries to invest such Game reserve in South Africa.

I read that, Mrs Yajzi advised against president Kuffour the purchase of the unfinished hotel, because she did not think the salaries of both the President and his son could finance the purchase of the hotel. Does she know the financial position of Ghana president and his son? Why do some people assume that only Europeans financial position sounds well to invest in Ghana or the whole Africa continent with all our national resources? According to company law or bank law, there is no bank that shall review the sources their customers acquire their capital or the way they transact their banking business. Every bank has his private policy for his customers. What is the work of auditor general department? I suppose they use to audit the state house, and I don?t think that the president is free from audit from the state. What is the work of Bank institutions? How many people can rely on their salary to buy a hotel? There are a lot of hotels in Malaysia, Caribbean, Dominic Republic South Africa and a few to be mentioned that were financed by International banks like European Investment banks. The European Investment Bank loaned 20,000.000 EUR to finance Western Macao resort in Dominic Republic. We have something we called credit evaluation when loan is been granted to a customer. A banker doesn?t usually grant a loan to an alcoholics or drug addicts. As I made mentioned earlier chief Kuffour is a qualified accountant and a father to the president. When credit evaluation are been process; personality, trustworthy are been taken into consideration. According to western diplomatic president Kuffour is a gentle giant. In hotel business kindness and good service are their goals. As we all know dog does not give a birth to a bird. It does not matter if Prudential Bank?s finance the hotel or not. This hotel shall create employment and tourist earnings. In 1992, a company formed and sponsored by the Palestine Liberation Organisation, could have share in The Ambassador Hotel, but the president?s son hotel is improper. Is that correct? It is time to encourage the local professional?s investor to invest their own land instead of discouraging them.