Impossible To Fund Ghana’s Development Without Borrowing-Seth Terkper Asserts At CAUC Graduation
Mr Seth Emmanuel Terkper, Special Advisor to the President on Finance, has argued that external financing remains an indispensable tool for Ghana’s developmental agenda.
Speaking at the 11th Graduation ceremony of the Christ Apostolic University College (CAUC) over the weekend at Kwadaso, Mr. Terkper maintained that relying solely on internal revenue is insufficient to fund the large-scale infrastructure and social programs necessary for national growth.
Necessity of External Financing:
Addressing the congregants over the weekend, the former Finance Minister emphasized that even global economic powers like the United States and France utilize borrowing to sustain long-term projects.
He noted that Ghana must continue to engage international institutions, such as the World Bank and the IMF, to bridge the funding gap between domestic revenue and developmental needs.
“It is nearly impossible to finance the level of development Ghana requires without tapping into international markets,” Mr. Terkper stated.
He added that, “These resources are vital to shoring up our internal generation efforts.”
Fiscal Discipline and Responsibility:
Mr. Terkper underscored that the ability to attract such investment is predicated on fiscal discipline.
He highlighted the John Mahama administration’s commitment to moving beyond political rhetoric toward a model of rigorous financial management.
He said key points regarding the government’s economic strategy included:
Institutional Trust:
Building frameworks that satisfy international lending criteria.
Strategic Planning:
Ensuring borrowed funds are directed toward high-impact economic policies.
Accountability:
Shifting toward responsible decision-making to ensure a sustainable economic turnaround.
Vision for Greener Tomorrow:
Aligning his remarks with the graduation theme, “Sustainable Minds, Sustainable Leadership for a Greener Tomorrow,” Mr. Terkper praised CAUC for instilling environmental consciousness in its students.
He linked economic sustainability to environmental preservation, citing the “Green Ghana Initiative” and the fight against illegal mining (galamsey) as critical pillars of the government’s agenda.
“Beyond reforestation, we are tackling activities like galamsey that threaten our collective livelihoods. We are taking rigorous measures today to ensure that future generations inherit a viable environment,” he assured.
Academic Excellence and Moral Values:
The ceremony celebrated the graduation of 188 students.
Professor Geoffrey Emi-Reynolds, President of CAUC, reaffirmed the university’s mission to produce “sound, educated, and godly” professionals.
He noted that the institution’s administrative and academic activities are specifically tailored to balance student welfare with the demands of the modern job market.
Chancellor:
The Chancellor of CAUC, Apostle Samuel Amponsah-Frimpong, reminded the graduates that the university’s foundation is built on the intersection of academic excellence and spiritual integrity.
He urged the new alumni to transform society through a combination of faith, knowledge, and service.
Recognition and Valedictory
There were solidarity messages from the Kwame Nkrumah University of Science and Technology (KNUST) and the University of Cape Coast (UCC).
The university also honored long-serving staff, including Mr. George Sarfo Nketiah, for his dedicated service.
The overall best student, Mr. Ebenezer Kofi Sekyi, delivered a moving valedictory speech, thanking the faculty for fostering an environment of growth and charging his peers to uphold the university’s values in their professional careers.
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