Information Minister, Kojo Oppong Nkrumah, has asked media practitioners to eschew misleading reports about the economy, especially during this Covid-19 era, since that drives away investors.
“The media employs output of economic organisations, governments, companies etc. in their coverage. How we report the aims, the strategies, the evaluation, the outcomes can either fuel or distort the picture of and for the general public and in turn, can be the new stimulus of how economic actors and the general public act in this recovery cycle,” he said.
Speaking on the theme, Media and Marketing Communications post Covid-19: A catalyst for socio-economic resurgence, Mr Oppong Nkrumah highlighted the role played by the media and strong marketing communications in the quest for the country to fully achieve economic growth.
He said strong media and marketing communications is crucial for economic development.
“Without the media and marketing communications, adequately playing the role of positive amplification, our full potential for economic growth and development may not be achieved,” he said.
While recognising that the media needs support to survive the impact of the Covid-19 pandemic, he tasked the media to deliver the right information that will make the country attractive to investors.
“The media throughout economic history has been integral in the recovery process,” he said.
He said the media can influence a financial crisis by provoking and sustaining longer economic recovery with the stories they produce.
However, due to unhealthy competition, between media outlets to beat competition, some outlets select stories that play on the emotions of the consuming public which “could potentially interfere with attempts to rally us all up and rise together.
“When we instill fear and negativity as our primary content, the consumer confidence required to aid our collective recovery and the advertising revenue that makes us survive as businesses are challenged.
“It is, therefore, the role of the media to eschew all forms of misleading publications, particularly about the economy and the private sector because it deters investors both foreign and local, it deters the ability of the general public to participate in the economic recovery effort,” he said.