Features
Any justification for National Development Bank in Ghana? (Part 2)
• President Nana Addo Dankwa Akufo-Addo
launching the Bank in Accra last month
In Part 1 of this article, an attempt was made to find out whether there is actually any need for a National Development Bank. In line with this, it was pointed out that generally, development banks serve as important instruments to promote economic growth. It was also explained that they usually do this by providing credit and a wide range of advisory as well as capacity building programmes to stakeholders.
A National Development Bank, therefore, comes in as a specialist bank to provide medium and long-term lending facilities for both the private and public sectors. The objective of a development bank is to serve public interest rather than earning profits. This means that a development bank provides financial assistance to both private and public sector institutions.
CRUCIAL ROLE IN RURAL CAPITAL FORMATION
It is also the aim of a national development bank to play a crucial role in rural capital formation. Indeed, development banks are able in this case to bring in dispersed savings of rural people through different deposit schemes after which loans, based on the savings are distributed to rural people to begin productive ventures in line with their self-sufficient economic activities.
It is for the purpose of all these that the Ministry of Finance and the European Investment Bank have signed an agreement for the provision of a €170 million facility. The purpose of the facility, as pointed out already, is meant for the establishment of a new national bank to be known as the Development Bank Ghana (DBG).
This bank will apply stringent investment conditions aimed at safeguarding financial sustainability, transparency, environmental and social accountability. The ultimate purpose is to promote job creation, and sustainable economic growth.
ARE OUR BANKS TOO MANY?
With regards to the argument that many banks already exist so there is no need for any new national bank, the point must be made that a national development bank is a specialised financial institution set up to provide medium-term and long-term lending facilities. Here, medium-term facilities include three to five years programmes while long-term ones last from five to ten years or even more.
It is these medium and long-term facilities that make finances available for institutions to carry out developmental programmes for the ultimate benefits of a country. For this reason, there is justification for such a national bank if Ghana is to operate independently and be able to re-structure its economy in line with Ghana Beyond Aid strategy.
There is no doubt that the establishment of this national bank signifies long-term ambitious financing programme that seeks to gather finances for numerous sectors in the economy. The sectors include manufacturing, agriculture, agro-processing, housing sub-sectors, mortgages and ICT, among others. Positive developments in these sectors are meant to generate ambitious initiatives to unlock funds in these sectors and improve domestic revenue mobilisation.
ECONOMIC GROWTH AND TRANSFORMATION
It is such initiatives that will propel growth and transformation in various sectors of the economy. Without such transformation, the country will remain producer of raw materials for other countries and receiver of tiny incomes from the developed countries, thereby perpetuating the status quo since independence in line with the negative ambitious objectives of the colonial master.
It is not easy to break away from this cycle of poverty, but it calls for determination and realistic programmes of development based on a transformational agenda to extricate a developing country like Ghana from the shackles of control emanating from our master-servant colonial experience. Unpleasant as it is, this fight for economic independence should have come earlier than today but none of our past leaders was able to put up this economic fight since, even if they had come to this realisation earlier on, it would not be easy to overcome these economic challenges.
OVERCOMING STRUCTURAL ECONOMIC PROBLEMS
Over the years, many Ghanaian scholars and politicians have been able to rightly point out the economic disparities between Ghana and other colonised countries, on one hand, and their previous colonial masters, on the other. It is a fight that is on-going and is, therefore, never too late for the right things to be done and to correct all wrongdoings in the past.
If, therefore, President Akufo-Addo’s government has come to this realisation and taken up steps aimed at righting all the economic wrongs, then this positive agenda ought to be supported by all the political parties, especially those who claimed to be social democrats and are also seeking independence of all colonial appendages.
RIGHT-WING PARTY AND ECONOMIC DEVELOPMENT
A right-wing party like the New Patriotic Party (NPP), led by President Akufo-Addo has put in the right measures to salvage the country from its long-standing colonial appendages and make it truly independent. If this is the case, then there is no time to waste on the part of any political party but to move in quickly to support this positive agenda of transforming the national economy and making it truly independent.
At the time of independence, Nkrumah rightly declared that our independence will not have any meaning unless it is linked up with the whole of the African continent. While this is true to some extent, we should know that political independence is what was achieved and that the second phase of the battle is to struggle for our economic independence in line with Ghana Beyond Aid strategy.
If Ghana’s independence is to become realistically meaningful, then her economic independence cannot be compromised on any grounds for which reason the national development bank, with its positive agenda, must be implemented in a realistic manner for the attainment of our national aspirations which has been in-dwelling in us in the form of “God bless our homeland Ghana, and make us great and strong.”
By Dr. Kofi Amponsah-Bediako
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In the pursuit of nurturing healthy, fulfilling relationships, we often focus on understanding our partners, communicating effectively, and navigating conflicts. However, a crucial element is frequently overlooked: self-awareness.
Understanding ourselves is the foundation upon which successful relationships are built. Imagine being in a relationship where every conversation feels like a minefield, and every disagreement leaves you wondering if you are truly understood.
Now, picture a relationship where you feel seen, heard, and valued—not because your partner has magically figured you out, but because you have taken the time to understand yourself. This is the transformative power of self-awareness in relationships.
What is Self-Awareness?
Self-awareness is the ability to recognize and understand our thoughts, feelings, and behaviors. It is the capacity to reflect on ourselves, acknowledging our strengths and weaknesses, and taking responsibility for our actions. With self-awareness, we are better equipped to manage our emotions, respond to situations more thoughtfully, and make informed decisions that align with our values.
How Self-Awareness Impacts Relationships
- Improved Communication:
When we are aware of our own emotions and needs, we can communicate them more effectively to our partner, reducing misunderstandings and conflicts. By recognising our tendency to become defensive in certain situations, we can take a step back, breathe, and respond more constructively. - Increased Empathy:
Self-awareness allows us to recognise and manage our own biases, enabling us to be more empathetic and understanding towards our partner’s perspective. By acknowledging our own emotional triggers, we can respond to our partner’s needs with more compassion. - Healthier Boundaries:
By understanding our own needs and limits, we can establish and maintain healthy boundaries, preventing codependency and resentment. Self-awareness helps us communicate our boundaries clearly and respectfully, fostering mutual respect in relationships. - Personal Growth:
Self-awareness fosters personal growth, enabling us to work on our flaws and become a better partner, friend, and individual. As we develop self-awareness, we become more resilient, adaptable, and better equipped to navigate life’s challenges with confidence and purpose.
Cultivating Self-Awareness
- Mindfulness and Reflection:
Regular mindfulness practices and self-reflection can help you develop a deeper understanding of yourself. Schedule time for reflection, whether through journaling, meditating, or simply taking a quiet walk in nature. - Journaling:
Writing down your thoughts, feelings, and experiences can provide valuable insights into your motivations and behaviors. Reflect on your journal entries to identify patterns, gain clarity, and develop a greater understanding of yourself. - Seek Feedback:
Ask trusted friends, family, or a therapist at Counselor Prince & Associates Consult (CPAC) for feedback on your strengths and areas for improvement. Be open to constructive criticism and use it as an opportunity for growth and self-awareness. - Embrace Imperfection:
Recognise that nobody is perfect, and it is okay to make mistakes. This mindset allows you to approach self-awareness with kindness and compassion, fostering a more positive and growth-oriented relationship with yourself.
As we cultivate self-awareness, we embark on a journey of growth, discovery, and transformation. By understanding ourselves, we can build stronger, more resilient relationships, and live a more authentic, meaningful life. Self-awareness is not a destination; it is a continuous process of learning, growing, and evolving—and one that requires patience, kindness, and compassion towards ourselves and others.
In conclusion, self-awareness is the cornerstone of healthy, fulfilling relationships. By understanding ourselves, we can communicate more effectively, empathise with our partner, and cultivate personal growth. As we strive to build stronger relationships, let us prioritise self-awareness, embracing our true selves, and loving ourselves for who we are. By doing so, we will become better partners, friends, and individuals—capable of building more profound, lasting connections with others, and living a life that truly reflects our values and aspirations.
To be continued …
By Counselor Prince Offei
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ONE profession which society has battled with is prostitution. Prostitutes can’t be stopped in their tracks. Soldiers have tried, policemen have doubled and redoubled to keep them off the streets. But the prostitute is like the cockroach. Sack it from the kitchen and it moves to the toilet where it can enjoy self-contained facilities. Drive it away from there and it scurries to the bedroom to become the landlord.
Prostitutes can live on land and sea. They are mysterious and defy gravity, a feat—even birds of the air have not successfully accomplished. They can change form and appear as bar girls; they dress like students; act like scholars and speak Oxford English. They are also like the chameleon but once their clients can identify them, no problem. The Sikaman prostitute normally enters the business as an amateur, having been introduced by a professional or a caricature of a pimp. But she learns quickly.
In a short time, she is able to take any size without wailing, unless of course the size is “international”.
Prostitutes are of every tribe, height, weight, colour and notoriety. These days, some are well-schooled with diplomas and degrees. They enter into the world’s oldest profession due to factors ranging from poverty to nymphomania.
Most prostitutes in Sikaman are often not sophisticated in outlook and modus operandi. Often, they easily betray themselves with their gaudy appearance, over-painted faces, skimpy skirts, cigarette in hand, walking with that kind of bottom-wriggling gait that can instantly turn a devoted clergyman into a he-goat.
In developed countries like Spain, prostitution takes different forms. Apart from those you can grab from the cheap bars and ghettos for single night stands and those managed by shameless pimps, there are some who are organised by well-established syndicates and specialised agencies.
If you need a girl for the night, you only have to telephone an agency, describing the kind and breed you want—race, height, size, colour (chocolate?), rudeness, smoking type, strip-teasing, shyness, whatever.
You give your address and the girl on time. You pay by the hour and cost per hour can make you feel dizzy without falling down. You’ll still be steady for the showdown.
The girls have been trained to use tricks and communication skills to make their clients spend several hours without really doing anything. A typical prostitute will make you drink, chat at length (they are very knowledgeable), cook for you, bathe you and breast-feed you. That takes some three hours and you have to pay if you still want her services.
If you grow a bit wiser and protest, and insist vehemently that you are tired of being babied and want some real action now, she’ll do another hour of strip-tease and belly-dance by which time you’re either bored or charged to bursting point.
And finally you will do it but never without a condom. And the kind of condom she’ll give you can’t be torn by any knife around the globe, not even okapi. Before you’re finally through, you’ve got some five-hour helluva bill to pay. Next time round, you’ll think twice and go in for the cheap-side who’ll even allow you to do it without condoms if you are tired of living and want to die of AIDS.
In Sikaman, apart from those who operate from hotels and bars, some operate in private homes. The clients come and line-up, each with a hard-on. When the queue is not moving fast some begin to sweat because they have a very low sexual boiling point. If they are not ushered in quickly they can cause problems.
They’ll start grunting and stamping and can disrupt the peaceful and orderly procedure. As it were, such clients need priority attention so that they do not cause a riot and disturb the public peace.
Incidentally, prostitutes don’t like dealing with such clients because they are bad business. They have no biblical patience at all. They rush too much, and that was why a prostitute once asked a client whether he was a Russian because he rushed a bit too much and messed up things.
Prostitution in Sikaman has taken a new turn. Girls as little as sixteen are selling their bodies sometimes with the passive connivance of their mothers. When the girls go out at 9.00 p.m. and return at 3.00 a.m, their mothers let them in without asking questions. Next day, the house is properly fed from the proceeds of the night adventure and everybody is happy and nobody talks. If you talk, no breakfast for you tomorrow morning.
The police are doing quite a job trying to get them off the streets but they go and return just like the cockroach. Many of them are surely agents for the transmission of the AIDS virus because they permit clients to forgo the condom. They only have to pay extra for the “raw” service.
Now, the idea of legalising prostitution has been a very controversial one. If prostitutes can hardly be gotten off the streets since they are defiant and are now very many, why not legalise the profession, issue licences (not to kids), offer them health services and health education, teach them how to protect themselves and others from sexually transmitted diseases and then compel them to pay tax?
That would force children out of the trade because the legal operators will themselves force out the kids who will be competing with them. They would even assist the police to kick out the 15 and 16 year olds.
If a bad phenomenon cannot be wiped out, a way must be found to make it less and less harmless, so that while it doesn’t benefit society in any grand way, it does not also harm it.
Any suggestions?
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