Features
Any justification for National Development Bank in Ghana?

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“The Development Bank is going to play a very important part in the rapid economic transformation of Ghana, following the onset of COVID-19”.
These words came from President Nana Addo Dankwa Akufo-Addo during at the signing ceremony on Wednesday, May 19, 2021, when he held a meeting with the President of European Development Bank (EDB), Dr Werner Hoyer, as part of his official visit to Belgium.
According to President Akufo-Addo, the design and operation of the Development Bank Ghana (DBG) in Ghana had been on the drawing board over the past two years and when established, would satisfy the highest standards, scrutiny and best practices of development banks across the world.
He further assured that the €170 million facility being provided by European Investment Bank (EIB) for the establishment of the Development Bank Ghana (DBG), “signals the determination of the country to continue partnering with the EU to continue to finance other projects in the pipeline as the country works to recover from the impact of COVID-19 as well as assist in the rapid recovery of the Ghanaian economy from the ravages of the pandemic.”
Any need for a National Development Bank?
One question that comes up immediately is whether there is the need for a bank for developmental purposes when, indeed, other banks are already operating in the country. It has even been argued that to prevent the collapse of certain banks and strengthen the banking sector, the government in collaboration with the Bank of Ghana, recently sanitised the sector to ensure that it is strengthened up for business in the country.
And if this is the case, why should another bank be established if it is aimed at promoting the same economic development that we are all seeking?
Development Banks and economic growth
Generally, development banks serve as important instruments to promote economic growth. They usually do this by providing credit and a wide range of advisory as well as capacity building programmes for stakeholders. The stakeholders here include households, small and medium enterprises and even large private companies. Usually, the financial needs of the huge private companies are not sufficiently served by private commercial banks nor by local capital markets.
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 for 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 regard 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 10 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 any 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 Information, Communication, Technology (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 wrong doings in the past.
If President Akufo-Addo’s administration has come to this realisation and taken up steps aim at righting all the economic wrongs, then this positive agenda ought to be supported by all the political parties, especially those who claim 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, Kwame Nkrumah rightly declared that our independence would not have any meaning unless it was 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 its 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 dwelling in us in form of “God bless our homeland Ghana, and make us great and strong”.
By Dr Kofi Amponsha-Bediako
Features
International character of Ghanaman and more

The average modern Gold Coaster born and bred in Sikaman is an adventurous creature. Go to any part of the world and you’ll find Ghanaman diligently slugging it out either in the snow or in hot sweltering weather, earning a decent living.
Go to Guinea and see Ghanaman in the garb of a herbalist, curing the sick of various ailments. He makes the Guinean understand that not all diseases are caused by James Lucifer alias Jimmy Satan. On the contrary, most diseases are caused by kooko which can even attack the human nose and turn it upside down.
That kooko is also the cause of poverty and the internal bleeding of personal back-pocket economies. And that kooko can be cured using the chemistry underlying Sikaman herbal medicine which has been blessed by the gods of Larteh.
And before Ghanaman starts dispensing his herbal concoctions, he must attract the passing crowd with some Sıkaman-originated choreography, akin to a combination of adowa and agbadza, such that the dancer can easily dislocate a shoulder and start crying for his mother.
When the crowd is enough to form a quorum, Ghanaman must perform magic as a side-attraction, and proceed to sell his drugs. The drugs are genuinely made from potent herbs which the Pharmacy Board of Sikaman says it has no confidence in. Believe me, Ghanaian herbalists are practising in neighbouring countries like Guinea, Cote d’Ivoire, Sierra Leone and Benin, while we are discouraging them from practising in Sikaman.
Go to Las Palmas and see Ghanaman as a fisherman. He sails on Korean-owned boats and is forced to eat garlic and raw tuna for radiant health. The garlic is also supposed to protect him against witches. But sometimes, he is not good bedfellows with some Korean crew members, and once in a while a fight breaks out.
The typical Korean is a Kung Fu expert and before displaying a golden dragon data. He must first terrify Ghanaman with a Korean dance which consists of wild arms and leg throwing. But Ghanaman is usually not daunted. Why has he been eating cancer kenkey all years without developing cancer? It mean is a superhuman capable of countering Kun fu side-kicks to the ribs.
Anyhow Ghanaman’s most potent arsenal lies in his fists. If he is a southpaw, it mean left fist is probably insured and can cause damage. When Ghanaman lands a cassava blow and it lands on a Korean chest, it has the effect of a cruise missile. If there is no ceasefire a funeral cannot be ruled out.
Greenland
Go to Alaska and find Ghanaman there. Greenland, Iceland, Brazil, Argentina, Madagascar, everywhere and you’ll find him. He has become an international citizen and is generally lauded for his hardwork, sincerity and honesty.
However, some bad nuts are also condemned and despised.
The world and all its parts and corners are for the human race, and anyone can choose to live anywhere and earn a decent living so long as he doesn’t misconduct himself or become a social misfit and a law unto himself.
Sıkaman for instance accepts foreigners, and we are so liberal that people just come in through our borders and we welcome them with the best palmwine in town and goat light soup. Who cares about passports and visas? Our hospitality is, as it were legendary.
So we have Liberians, Nigerians, Sierra Leoneans, Togolese, Europeans, Americans, Scandinavians and Koreans in Sikaman. And some of them have misinterpreted our overzealous accommodation to mean “foolishness” and are misconducting themselves.
The newspapers carry stories of some unscrupulous Nigerians stealing, defrauding and collaborating with their Sikaman counterparts to rob people. You’ll find some good and law-abiding Liberians around but some other Liberians are in the business of fraud, robbery, money printing, money doubling, anything criminal.
Ghanaian hospitality can no longer be extended to such people. I do not think Ghanaians will be treated kindly either, when they misbehave anywhere in the world. Those who come from outside with the intention of bringing down their evil deeds and to practise them here professionally must be getting ready because Ghanaians are getting fed up with the menace.
These days, you’ll find strange people following you as soon as you emerge from a bank. If you are not careful, they’ll wrestle your briefcase from you and speed away in a waiting taxi.
Someone was just saying that many foreign criminals are flocking to Ghana because in their countries, they are enable to operate either because they are being looked for by the police for offences committed or fear instant justice at the hands of mobs. Ghanaians, it is said, are humanitarian in dealing with criminals.
Well, in some African countries, a thief who is being chased runs directly to the police station in his own interest and begs the officer at the counter to lock him up. Otherwise he’ll be lynched or be burnt to death. In Ghana, it is the opposite. The thieves run far away from the cop stations.
The criminals must reform and stay peacefully in Sikaman or quit. No court case!
This article was first published on Saturday September 5, 1998
Features
The architecture of existence: How we live and die
The human condition is defined by two absolute, biological bookends: the commencement of complex cellular animation and its ultimate, irreversible cessation.
For centuries, medicine treated life and death as strictly separate states. Today, modern pathology and molecular biology reveal a more profound truth: the mechanisms that allow us to live are the exact same mechanisms that dictate how we die.
Understanding this relationship is no longer just a philosophical pursuit. It is a clinical necessity for managing public health in the 21st century.
Part I: How we live – The mechanics of animation
At its core, biological life is a continuous, high-stakes battle against entropy (the natural tendency of systems to degrade into disorder). To maintain form, consciousness, and function, the human body relies on three fundamental pillars:
1. Cellular respiration and energy production
Every second of human life is powered by the conversion of oxygen and glucose into Adenosine Triphosphate (ATP), the universal energy currency of our cells. This process occurs within the mitochondria.
Without a constant supply of ATP, the microscopic pumps that maintain electrical gradients across our cell membranes fail, causing cellular collapse within minutes.
2. Homeostasis: The balancing act
To survive, the internal environment of the body must remain incredibly stable, regardless of external chaos. This balancing act, known as homeostasis, regulates:
Blood pH: Strictly maintained between 7.35 and 7.45.
Core Temperature: Ideally kept around 37°C (98.6°F).
Electrolyte Balance: Precise ratios of sodium, potassium, and calcium that allow nerves to fire and muscles to contract.
3. The Autonomic Nervous System (ANS)
The ANS acts as the invisible conductor of life, split into two complementary branches:
Part II: How we die – The path of cessation
Death is rarely a singular event; it is a progressive biological cascade. Whether caused by old age, chronic illness, or sudden trauma, the final pathways of mortality generally follow a predictable trajectory.
1. The cellular horizon: Senescence and Apoptosis
Every time a human cell divides, the protective caps at the ends of its chromosomes-telomeres-shorten. Eventually, telomeres become so depleted that the cell can no longer divide safely. It enters senescence (a state of permanent arrest) or triggers apoptosis (programmed cell death). This gradual, systemic loss of cellular renewal is the underlying engine of aging.
2. The clinical cascade of somatic death
When the body can no longer maintain homeostasis, somatic death (the death of the organism as a whole) begins. This occurs in a distinct sequence:
1
Clinical Death
Zero to four minutes
The heart stops pumping blood, and respiration ceases. While breathing and circulation have ended, the body’s tissues still contain residual oxygen and cellular energy reserves. At this stage, resuscitation is often still possible.
2
Brain Death (Infarction)
Four to six minutes
Deprived of fresh oxygenated blood, the brain’s highly sensitive neurons begin to starve. Lacking ATP, the brain cells lose their electrical charge, swell, and begin to burst. Permanent, irreversible neurological damage occurs within minutes.
3
Biological Death
Hours to days
The organs fail entirely. Without central control or blood flow, individual cells throughout the body consume their final energy reserves. Enzymes that once aided digestion begin to break down the body’s own tissues from the inside out, a process known as autolysis.
Part III: The modern collision of life and death
In the modern era, the boundary between how we live and how we die has blurred. Historically, humanity died primarily from infectious diseases and acute trauma. Today, global mortality is dominated by non-communicable, chronic lifestyle diseases.
Modern Pathology: How we live (the cause) how we die (the result)
Cardiovascular disease, chronic stress, poor diet, and lack of sleep keep the sympathetic nervous system hyper-activated, damaging blood vessels .Occlusion of coronary arteries leads to myocardial infarction (heart attack) or ischemic stroke.
Metabolic syndrome over nutrition and physical inactivity overwhelm cellular mitochondria, leading to systemic insulin resistance. Multi-organ failure, chronic kidney disease, and severe vascular complications.
Neurodegenerative Disorders Chronic systemic inflammation and sleep deprivation prevent the brain from clearing metabolic waste. Gradual loss of synaptic connections, leading to dementia and the eventual loss of basic autonomic functions.
Conclusion: The unified theory of health
Ultimately, how we live directly shapes the path of how we die. The micro-choices of daily existence-how we manage emotional stress, the quality of our rest, our communal connections, and our nutrition-either preserve the integrity of our homeostatic systems or accelerate their decline.
True medical advancement is shifting away from merely extending the final, frail stages of biological death. Instead, the focus is turning toward optimising our living years-ensuring that the intricate, beautiful machinery of human animation runs smoothly until its natural, quiet conclusion.
By Robert Ekow Grimmond-Thompson




