Features
Burning Issues Any justification for National Development Bank in Ghana? (Part 1)
“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 the signing ceremony on Wednesday May 19, 2021, when the President of the Republic 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 has 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 assured further 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.
Not quite long ago, during the presentation of the 2022 Budget Statement and Economic Policy to Parliament on Wednesday, 17th November, 2021, the Hon Minister of Finance, Ken Ofori-Atta, stated that the country would soon establish a national development bank to address our developmental issues. In opposition to the announcement, some of the minority in Parliament expressed the view that the Minister should have informed Parliament to pass the relevant law on the bank before making the announcement.
This is surprising because a Minister can announce an intention of setting up an entity in the country before informing Parliament about it. It appears everything by Government, even if good, will be antagonistically be attacked before going through the process, a behaviour that is unpalatable or awful and should, therefore, be discarded or thrown overboard.
WHY IS SUCH BEHAVIOUR EXHIBITED TOO OFTEN IN THIS COUNTRY?
We need to ensure that, as much as possible, we place our partisan interest far above that of the nation, so that we would be able to confront and overcome all challenges or obstacles that may come our way as a nation. This is the only way to ensure that we are able to rise above every difficulty in this country.
If right from the beginning, we are not able to do this, then we must note that moving forward as a nation will always be extremely difficult, if not impossible. Countries are admired today for their economic achievements – United States, Germany, France, Canada and all others that are able to donate funds to needy countries – exercised democracy in this way but had to keep their nations afloat before being able to reach where they are today.
It is also for this reason that we often say that Rome was not built in a day. What this means is that, the process of nation building always requires sacrifices on the part of residents before being able to get to the top. Similarly, the process of growth for every human takes a long time through a lengthy process before a baby becomes an adult, not forgetting daily guidance from parents and others in society in addition to the vital issue of socialisation.
What all this means is that, as citizens and residents in the country, we need to know our priorities and desire for societal values before being able to move from the first step to the end. It is said also that, the journey of a thousand miles begins with the first step. If this is the case, then Ghana as a country needs much patience to go through the various nationalistic processes needed to cement national progress for all and sundry.
We, therefore, have a long way to go before being able to achieve our developmental goals. These goals can only be attained if as a nation, we begin to understand each other, appreciate our differences in opinion while at the same time being critical at each other, through constructive criticisms not destructive or deadly ones, so as to be able to move the country forward.
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 to 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 or by local capital markets.
Email address /whatsapp number of author: Pradmat2013@gmail.com/0553318911
By Dr Kofi Amponsah-Bediako
Features
Tears of Ghanaman, home and abroad
The typical native of Sikaman is by nature a hospitable creature, a social animal with a big heart, a soul full of the milk of earthly goodness, and a spirit too loving for its own comfort.
Ghanaman hosts a foreign pal and he spends a fortune to make him very happy and comfortable-good food, clean booze, excellent accommodation and a woman for the night.
Sometimes the pal leaves without saying a “thank you but Ghanaman is not offended. He’d host another idiot even more splendidly. His nature is warm, his spirit benevolent. That is the typical Ghanaian and no wonder that many African-Americans say, “If you haven’t visited Ghana. Then you’ve not come to Africa.
You can even enter the country without a passport and a visa and you’ll be welcomed with a pot of palm wine.
If Ghanaman wants to go abroad, especially to an European country or the United States, it is often after an ordeal.
He has to doze in a queue at dawn at the embassy for days and if he is lucky to get through to being interviewed, he is confronted by someone who claims he or she has the power of discerning truth from lie.
In short Ghanaman must undergo a lie-detector test and has to answer questions that are either nonsensical or have no relevance to the trip at hand. When Joseph Kwame Korkorti wanted a visa to an European country, the attache studied Korkorti’s nose for a while and pronounced judgment.
“The way I see you, you won’t return to Ghana if I allow you to go. Korkorti nearly dislocated her jaw; Kwasiasem akwaakwa. In any case what had Korkorti’s nose got to do with the trip?
If Ghanaman, after several attempts, manages to get the visa and lands in the whiteman’s land, he is seen as another monkey uptown, a new arrival of a degenerate ape coming to invade civilized society. He is sneered at, mocked at and avoided like a plague. Some landlords abroad will not hire their rooms to blacks because they feel their presence in itself is bad business.
When a Sikaman publisher landed overseas and was riding in a public bus, an urchin who had the impudence and notoriety of a dead cockroach told his colleagues he was sure the black man had a tail which he was hiding in his pair of trousers. He didn’t end there. He said he was in fact going to pull out the tail for everyone to see.
True to his word he went and put his hand into the backside of the bewildered publisher, intent on grabbing his imaginary tail and pulling it out. It took a lot of patience on the part of the publisher to avert murder. He practically pinned the white miscreant on the floor by the neck and only let go when others intervene. Next time too…
The way we treat our foreign guests in comparison with the way they treat us is polar contrasting-two disparate extremes, one totally incomparable to the other. They hound us for immigration papers, deport us for overstaying and skinheads either target homes to perpetrate mayhem or attack black immigrants to gratify their racial madness
When these same people come here we accept them even more hospitably than our own kin. They enter without visas, overstay, impregnate our women and run away.
About half of foreigners in this country do not have valid resident permits and was not a bother until recently when fire was put under the buttocks of the Immigration Service
In fact, until recently I never knew Sikaman had an Immigration Service. The problem is that although their staff look resplendent in their green outfit, you never really see them anywhere. You’d think they are hidden from the public eye.
The first time I saw a group of them walking somewhere, I nearly mistook them for some sixth-form going to the library. Their ladies are pretty though.
So after all, Sikaman has an Immigration Service which I hear is now alert 24 hours a day tracking down illegal aliens and making sure they bound the exit via Kotoka International. A pat on their shoulder.
I am glad the Interior Ministry has also realised that the country has been too slack about who goes out or comes into Sikaman.
Now the Ministry has warned foreigners not to take the country’s commitment to its obligations under the various conditions as a sign of weakness or a source for the abuse of her hospitality.
“Ghana will not tolerate any such abuse,” Nii Okaija Adamafio, the Interior Minister said, baring his teeth and twitching his little moustache. He was inaugurating the Ghana Refugee and Immigration Service Boards.
He said some foreigners come in as tourists, investors, consultants, skilled workers or refugees. Others come as ‘charlatans, adventurers or plain criminals. “
Yes, there are many criminals among them. Our courts have tried a good number of them for fraud and misconduct.
It is time we welcome only those who would come and invest or tour and go back peacefully and not those whose criminal intentions are well-hidden but get exposed in due course of time.
This article was first published on Saturday March 14, 1998
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Features
Decisions have consequences
In this world, it is always important to recognise that every action or decision taken, has consequences.
It can result in something good or bad, depending on the quality of the decision, that is, the factors that were taken into account in the decision making.
The problem with a bad decision is that, in some instances, there is no opportunity to correct the result even though you have regretted the decision, which resulted in the unpleasant outcome.
This is what a friend of mine refers to as having regretted an unregretable regret. After church last Sunday, I was watching a programme on TV and a young lady was sharing with the host, how a bad decision she took, had affected her life immensely and adversely.
She narrated how she met a Caucasian and she got married to him. The white man arranged for her to join him after the marriage and processes were initiated for her to join her husband in UK. It took a while for the requisite documentation to be procured and during this period, she took a decision that has haunted her till date.
According to her narration, she met a man, a Ghanaian, who she started dating, even though she was a married woman.
After a while her documents were ready and so she left to join her husband abroad without breaking off the unholy relationship with the man from Ghana.
After she got to UK, this man from Ghana, kept pressuring her to leave the white man and return to him in Ghana. The white man at some point became a bit suspicious and asked about who she has been talking on the phone with for long spells, and she lied to him that it was her cousin.
Then comes the shocker. After the man from Ghana had sweet talked her continuously for a while, she decided to leave her husband and return to Ghana after only three weeks abroad.
She said, she asked the guy to swear to her that he would take care of both her and her mother and the guy swore to take good care of her and her mother as well as rent a 3-bedroom flat for her. She then took the decision to leave her husband and return to Ghana.
She told her mum that she was returning to Ghana to marry the guy in Ghana. According to her, her mother vigorously disagreed with her decision and wept.
She further added that her mum told her brother and they told her that they were going to tell her husband about her intentions.
According to her, she threatened that if they called her husband to inform him, then she would commit suicide, an idea given to her by the boyfriend in Ghana.
Her mum and brother afraid of what she might do, agreed not to tell her husband. She then told her husband that she was returning to Ghana to attend her Grandmother’s funeral.
The husband could not understand why she wanted to go back to Ghana after only three weeks stay so she had to lie that in their tradition, grandchildren are required to be present when the grandmother dies and is to be buried.
She returned to Ghana; the flat turns into a chamber and hall accommodation, the promise to take care of her mother does not materialise and generally she ends up furnishing the accommodation herself. All the promises given her by her boyfriend, turned out to be just mere words.
A phone the husband gave her, she left behind in UK out of guilty conscience knowing she was never coming back to UK.
Through that phone and social media, the husband found out about his boyfriend and that was the end of her marriage.
Meanwhile, things have gone awry here in Ghana and she had regretted and at a point in her narration, was trying desperately to hold back tears. Decisions indeed have consequences.
NB: ‘CHANGE KOTOKA INTERNATIONAL AIRPORT TO KOFI BAAKO INTERNATIONAL AIRPORT’
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