A recent discussion on the JoyNews PM Express highlighted a thought-provoking perspective on measuring development in Ghana. Professor Godfred Bokpin, a distinguished figure in finance from the University of Ghana Business School, challenged the conventional approach of celebrating Gross Domestic Product (GDP) growth as a sign of progress.
In his presentation, Professor Bokpin emphasized the importance of a more holistic assessment of development beyond mere economic indicators. He introduced the concept of the “5Ps” framework, which includes factors such as impact on ‘people’, promotion of ‘peace’, fostering ‘partnerships’, achieving ‘prosperity’, and preserving the ‘planet earth’.
The professor urged for a critical examination of whether Ghana’s current developmental efforts align with these five essential metrics. He questioned the sustainable impact of the progress highlighted by President Akufo-Addo in his recent State of the Nation Address, emphasizing the need for tangible improvements in the lives of Ghanaians.
Furthermore, Professor Bokpin expressed concerns about the slow pace of sustainable development in Ghana since 1992, noting that the country seems to be continuously laying a foundation without significant progress towards sustainable development goals. He emphasized the importance of moving beyond foundational efforts and focusing on concrete advancements that directly benefit the citizens.
Overall, the discussion led by Professor Godfred Bokpin sheds light on the necessity of reevaluating traditional measures of development and progress in Ghana. It calls for a shift towards a more comprehensive approach that addresses the fundamental aspects of societal well-being and sustainability.
