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Finance Minister claims economy is back on track …But the ordinary Ghanaians say impact is not being felt in their pockets

Ken Ofori-Atta
There are two schools of thought about a recent statement attributed to the Finance Minister, Ken Ofori-Atta with regards to the economy which he claimed had taken shape following the injection of the first tranche of loans from the International Monetary Fund (IMF) to revamp Ghana’s ailing economy and bring it back on track.
While the government spearheaded by the Finance Minister, who is the exchequer and economic and financial advisor to the President, aided by IMF officials believe that there are concrete signs of improvement in the economy which are beginning to show or manifest, other school of thought particularly the ordinary Ghanaians believe that the government is being evasive, insincere and hypocritical with the truth. They feel that they are being short-changed and deceived by the government and that nothing really is happening because the signs of economic growth are not being felt in their lives, let alone in their pockets. Their thinking was that all the factors that led the country to the IMF to seek economic bailout still persist and that nothing has changed, claiming that the value is still the same.
ECONOMIC WATCHERS AND THINK TANKS PROJECTIONS
The economic watchers and think tanks have projected a slowdown in the economy to 1.5% in 2023 and remain depressed in 2024 at 2.8per cent, but it is expected to recover to its potential growth by 2025. Some of the economic challenges facing Ghana are unemployment, corruption, inconsistent economic policies, poor human capital development, poor health system, crime and terrorism. Our biggest problem is a debt crisis, high inflation and the devaluation of the local currency, the cedi. These are the challenges that led the country to conclude an agreement with the IMF for a bailout.
The Government of Ghana recently reached a Staff Level Agreement (SLA) with the IMF for a first review of the IMF-supported Post COVID-19 Programme for Economic Growth (PC-PEG). That consensus came after five months of negotiations and paved the way for further progress toward approval of the first review by the IMF Executive Board scheduled for November 2023.
FINANCE MINISTER’S SPEECH
Speaking to the press after that meeting, the Finance Minister Ken Ofori-Atta, expressed optimism about the economic outlook saying: “The economy is responding positively and strongly to the news of government and IMF reaching an SLA for the first review, and we are eager to leverage this momentum to the very moment when the IMF Executive Board approved the first review in November”. He said the SLA was an indicative of the strong performance in meeting end-June 2023 performance indicators – including six quantitative performance criteria and three indicative targets as well as three structural benchmarks. These achievements he said, underscored Ghana’s commitment to economic recovery and stability.
Hear the Minister further: “Year-to-date data reflect significant improvements in economic performance. The gross domestic product has rebounded strongly, averaging 3.2 per cent in the first two quarters of 2023. Inflation on the other hand has been on a relatively downward trend, dropping to 40.1 per cent in August 2023 while the cedi has remained stable with a cumulative depreciation of about 23.5 per cent year-to-date. The fiscal front shows a surplus of about GHc2billion in H1 2023, exceeding the target”.
EMPTY PAPER TALK
Indeed, on paper, these are fine development, especially for the economists since they understand the issue and the corresponding economic language better and therefore can digest and interpret it in the best manner they can. But on a more serious note, the majority of Ghanaians who assess and weigh the performance of the economy with their living conditions, will not side with the government assessment because they don’t feel the transformation of the economy in their pockets since it is not visible. It is the same old story as they find it very difficult to make ends meet. They are still buying food items and other consumables at exorbitant prices, cost of transportation is still high, fuel prices keep escalating, payment of school fees for their children and wards has become so difficult, marriages are fallen apart and on rocks due to financial misunderstandings from couples and a whole lot of economic challenges.
EXPECTATIONS FROM GHANAIANS
Just as the government assured the nation that going to the IMF for economic bailout would solve most of these economic difficulties and improved the living conditions of the people within the shortest possible time, Ghanaians were therefore of the high hopes and expectation that, it would not be long for them to see signs of improvement in their living conditions. However, six months into the programme, nothing is showing and also, they are not feeling the impact of the IMF bailout.
Those so-called economic jargons such as gross domestic product, high inflation, macro and micro economic developments among others, which are difficult to be understood and assimilated and are always foisted on the ordinary Ghanaians make them angry and agitated, because they do not make sense to them in any way. As for the IMF praising Ghana for managing the funds well, that is normal because the benefit they will derive from Ghana in the long run.
Right now, what Ghanaians are expecting from government that will let them feel comfortable with their lives is to lay bare in simple terms the true facts relating to the current situation with the IMF bailout and the corresponding benefits that will reflect their lifestyles. Ghanaians are now discerning and wide awake and, therefore they will not sit down and allow falsehood to be peddled or forced down their throats to swallow. They will rather prefer that the government keep mute on issues concerning the economy instead of throwing dust into their eyes through deceit and falsehood. Ghanaians are noted to be magicians when it comes to how they manage themselves and they will like to remain as such.
Contact email/WhatsApp of author: ataani2000@yahoo.com
0277753946/0248933366
By Charles Neequaye
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Smooth Transfer – Part 5
Three days into her work with us, Kwakyewaa became an indispensable member of our team, and our contractors were very pleased with her. She gave them advice on the placement of electrical fittings.
She also contacted a couple of paint specialists and, after joining them to test their quality, we chose their products, which saved me a very substantial amount. On the evening of the third day I drove her home’.
‘Kwakyewaa, we have been so busy we haven’t had the chance to chat’.
‘Yes indeed. I have been hoping we could talk. But why don’t you have your say first’.
‘Okay. The first thing I would like to say is actually a question, and I hope you don’t mind my asking’.
‘Certainly not. Please go ahead’.
‘Well, I, I am really enjoying working with you. You have done quite a lot for us, and I really appreciate that. But I mean that on the personal level, I like being with you, and I wish, er ………….’
‘I like being with you too, apart from the fact that I respect what you are doing, and I wish I could do this on a regular basis. But what about the fact of your relationship with Abena? Even though your relationship is practically over, would it not look funny that within a short time of ending the relationship you quickly grab her cousin?’
‘She’s your cousin, not your sister. And she’s already started a new relationship. Moreover, she doesn’t have any respect for me. You’ve heard the disparaging things she’s being saying about me’.
‘She’s obviously being influenced by Jennifer, but I would have thought that she would at least reflect a little before believing them’.
‘You went to Tech, so you know that this type of thing is common, even though it’s boys who indulge in it. It’s called ‘Takashi’. If you want a girl and you are not confident of winning her normally, you tell her false stories about the guy she’s going out with. Most of the time it doesn’t work, but in this case it has worked. It’s almost funny’. I stopped in front of her home, and just as I was driving off Esaaba called me.
‘David, Mom would like a word with you’. So I locked the car and went in with them.
‘My son David. I learned yesterday that you and Abena have ended your relationship. I wasn’t pleased to hear it, because you know that I have come to regard you as my son. I heard Esaaba and Abena arguing, and when I asked them they said it was due to her decision to stop seeing you. Abena is adamant that she will not change her decision, and in fact she has started going out with another person. So what can I say? I’m glad that you have not stopped coming here, because I want to see you here regularly’.
‘Don’t worry at all Mom. I will be very regular here, and you can always call me whenever you need me’. ‘Thank you, my son. Now, the second thing. I hear Kwakyewaa has started helping you at your office. I also hear that in addition to your job with the EU, you have a big company. I really admire you. You are so humble and hardworking’. ‘Mom, let me tell you this. Kwakyewaa has been extremely helpful to us. She has already made a lot of difference in our work. I am really sorry that she will have to return to France in ten days’ time’. ‘
Ah, but I thought you said you will not allow me to go back. Have you changed your mind? I am thinking of staying for a while’,
‘Ei, Kwakyewaa!’ Esaaba said. ‘What will your parents say? You want to stay for how long?’
‘Mom’, my parents are in London, and I have been in France on my own for two years. I believe that what I’m doing with Bernard is really useful. I’m not even thinking about money. I will stay for a month or two, maybe even three’.
‘Let me correct you there. You will not work for us for one day without being paid. Now, tomorrow, I will take you to my other site, and show you what we are doing there. Then you can take a good decision. For now, Mom, we have something to discuss. Goodnight’.
‘Okay madam Kwakyewaa’, I said as we walked to my car, ‘will you give me a chance? I have really developed feelings for you, and I believe we can get along together. I can assure you that I have nothing to hide, and ……………’
‘You don’t need to talk much. I accept. Unconditionally. Let’s go and take a look at the site tomorrow’.
She called me fifteen minutes after I left their house.
‘David, I’ve told Esaaba. She’s very surprised, and very excited. So it’s official now. She wants to talk with you.
‘Bernard, do you know how I will call what you’ve just done? It’s a smooth transfer, within the same family. Congrats, I’m happy for you’.
Features
Normative, ethical enrichment (Islamic Perspective): Part 3

These legal provisions strongly resonate with Islamic teachings on the protection of the vulnerable, particularly children and victims of abuse.
The Prophet Muhammad (pbuh) emphatically condemned all forms of exploitation and injustice. He said: “Allah will be against three persons on the Day of Resurrection… one who sells a free person and consumes his price” (Ṣaḥīḥ al-Bukhārī). This Hadith directly condemns practices akin to human trafficking, where individuals are commodified for profit.
Additionally, the Prophet (pbuh) stated: “Whoever does not show mercy to our young ones… is not one of us” (Tirmidhī), underscoring the obligation to protect children from harm. These teachings reinforce that exploitation, abuse, and coercion are grave sins in Islam.
Synthesis
While Ghana’s legal frameworks are robust and aligned with both international standards and Islamic ethical principles, the implementation gap remains the primary challenge. Bridging this gap requires not only strengthening legal enforcement but also integrating ethical, religious, and community-based mobilization to reshape societal attitudes and enhance vigilance against trafficking.
The Strategic Role of Religious Leadership
Religious leaders occupy a uniquely influential position within society, functioning not only as spiritual guides but also as custodians of moral order and social cohesion. They command significant social capital, derived from deep-rooted trust, legitimacy, and continuous engagement with community members. In many contexts, they are perceived as intermediaries between the divine and humanity, entrusted with overseeing critical life events such as childbirth, marriage, burial rites, and conflict resolution. This positions them as indispensable actors in shaping both private conduct and public morality.
Theoretical Significance
Within Islamic sociology, religious leaders act as norm entrepreneurs, shaping:
• Moral consciousness by interpreting religious texts in contemporary contexts
• Social norms by defining acceptable and unacceptable behaviour
• Behavioural compliance through moral persuasion and spiritual accountability
Their authority extends beyond ritual functions to influencing socio-political attitudes, making them key agents in combating systemic injustices such as human trafficking.
Why religious leaders are vital in combating human trafficking
Trust and Legitimacy: Communities are more likely to accept guidance from religious leaders than from state institutions alone.
Grassroots Reach: Regular gatherings (e.g., Friday prayers, naming ceremonies, officiating marriages and burial services) provide direct access to large audiences. Religious leaders have access to the entire communities through the roles they play in societies.
Moral Framing: They can redefine trafficking not just as a crime, but as a grave sin (ḥarām), thereby strengthening deterrence.
Cultural Influence: They shape attitudes toward family decisions, migration, and child welfare key entry points for traffickers.
Conflict Mediation Role: Their involvement in family and communal disputes enables early detection of vulnerability and exploitation risks.
Practical Interventions
Normative Reframing
Clearly articulate human trafficking as a severe violation of Islamic principles, emphasizing accountability before Allah.
Sermonic Advocacy (Khutbahs)
Institutionalize anti-trafficking education within sermons, linking scriptural teachings to contemporary realities.
Community Surveillance and Early Warning Systems
Encourage congregants to report suspicious movements or deceptive recruitment practices, fostering collective vigilance.
Imamship Counselling and Family Guidance
Imams provide advisory support to families, particularly in rural areas, to resist false promises of employment or education.
Intersectoral Collaboration
Build partnerships with government agencies, NGOs, and international organizations such as the International Justice Mission to align moral advocacy with legal enforcement.
Victim Reintegration Support
Facilitate stigma reduction and social reintegration of survivors through compassionate community engagement.
In sum, religious leaders are not merely passive moral voices but strategic actors in social transformation. Their integration into anti-trafficking efforts bridges the gap between law and lived reality, ensuring that legal prohibitions are reinforced by moral conviction and community action.
Ethical Foundations (Conceptual Analysis)
Religious interventions against human trafficking must be firmly grounded in the theological and ethical attributes of Allah, which serve as the ultimate source of moral guidance in Islam. These divine attributes are not merely abstract concepts but functional principles that shape human conduct and social responsibility.
• Al-‘Adl (The Just)
Allah is perfectly just, and His justice (‘adl) denotes absolute fairness, balance, and the uncompromising rejection of oppression (ẓulm). In practical terms, this attribute obligates believers especially religious leaders to actively confront injustice in all its forms. Humantrafficking, which thrives on exploitation, coercion, and inequality, stands in direct opposition to divine justice. Grounding interventions in Al-‘Adl therefore requires advocating for accountability, supporting legal enforcement, and ensuring that perpetrators are brought to justice while victims receive their rightful protection.
• Ar-Raḥmān (The Universally Merciful)
Allah’s mercy (raḥmah) encompasses all creation, reflecting compassion, care, and benevolence without limitation. This attribute establishes an ethical imperative to respond to victims of trafficking with empathy, dignity, and restorative support. Religious leaders, drawing from Ar- Raḥmān, are called to prioritize healing, rehabilitation, and reintegration, ensuring that survivors are not stigmatized but rather supported in rebuilding their lives. Mercy here extends beyond charity to structured compassion that restores human dignity.
• Al-Ḥafīẓ (The Preserver and Protector)
Allah as Al-Ḥafīẓ signifies ultimate guardianship, preservation, and protection over all beings. This attribute places a collective responsibility on society to safeguard the vulnerable particularly
Women, children, and marginalized groups who are most at risk of trafficking. For religious leaders, embodying this attribute involves proactive vigilance, community education, and the establishment of protective mechanisms that prevent exploitation before it occurs.
Synthesis
When religious leadership is anchored in these divine attributes, it transcends passive moral instruction and evolves into active ethical stewardship. Justice demands resistance to exploitation, mercy ensures compassionate care for victims, and protection mandates preventive action.
Together, these principles transform religious leaders into powerful agents of social justice, capable of mobilizing communities toward the eradication of human trafficking.
Maqāṣid al-Sharīʿah and Human Trafficking (Conceptual Analysis)
What is Maqāṣid al-Sharīʿah?
Maqāṣid al-Sharīʿah refers to the higher objectives and overarching purposes of Islamic law,which are fundamentally designed to secure human welfare (maṣlaḥah) and prevent harm (mafsadah). Rather than focusing solely on legal rules, this framework emphasizes the ethical spirit and societal outcomes of Sharīʿah.
Classical scholars such as al-Ghazālī and al-Shāṭibīsystematized these objectives into five universal protections: religion (dīn), life (nafs), intellect(‘aql), lineage (nasl), and wealth (māl). These are regarded as essential necessities (ḍarūriyyāt) forthe preservation of a just and functional society (Shinkafi & Ali, 2017; Malik, 2015).
Importantly, Maqāṣid al-Sharīʿah provides a dynamic and policy-relevant framework, enabling Islamic law to address contemporary challenges such as human trafficking by prioritizing justice, dignity, and human flourishing.




