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
Press freedom & the bearded goat

THE journalist is a hunter. He goes after human rats and grasscutters personified, matters about whom he can salt and spice and present as news. The fatter and juicier the catch, the better, because sensation is essentially our cup of tea.

Our job is to sell news and sell it in grand style.
Because the journalist is a hunter and is created with a special kind of nose for sniffing out news, he is usually not welcome in many places. He is seen as someone who has been born to make people uncomfortable.
The problem is that some people don’t want things written about them even if it is promotional and favourable. When it entails publishing their pictures alongside the story, they are doubly scared.
“Please, don’t use my picture. People will think I’ve got money and come for loan,” someone told me.
Anyhow, journalists are seen as intruders, undesirables, born with plenty of okro in the mouth; maybe some also in the nose. Some of my friends are no longer too close because they fear I’d give them full coverage in the Sikaman Palava column. Ha ha ha! What a funny world!
Well, people like my Uncle, Sir Kofi Jogolo, my former classmate and born-mathematician, Kwame Korkorti, and ex-football star cum human-salamander Kofi Kokotako don’t mind featuring in the hilarious inches of this column. Kofi Owuo alias Death By Poverty is one personality who has to be mentioned in this palaver.
These are people who are going to live long, primarily because they see the world as one big ball of fun. When Kwame Korkorti was told that his dear mother was dead at home, he smiled and asked the bearer of the message whether his mother had cooked the afternoon meal before claiming she was dead. Until her death, Korkorti ate his lunch at his mother’s end.
When my Uncle Kofi Jogolo was picked and lost 1,500 dollars and a good amount of Sikaman currency, he didn’t lament the loss. Instead he was amused. In fact, he was almost glad about it, because he grinned from ear to ear, stroked his delicate moustache and congratulated the thief, adding that “He is smarter than I am.” Yeah, Jogolo is the man who employs a Swedish barber to trim his moustache.
And when Kofi Kokotako was unemployed and was nearly hit by an articulated truck, he called the driver a fool. “The idiot should have killed me,” he said to me. “Didn’t he know I was unemployed and suffering?”
Today, Kokotako is employed as a Reverend and is not doing badly at all. Thanks to the regular silver collection.
And what about Kofi Owuo, the celebrated poor man. His wife left him not because he was poor, but because he swore in front of her that he would never prosper.
The following dawn the wife packed bag and baggage and went back to her parents and told them all about her husband’s alliance with poverty. Her parents were bewildered and called the alliance unholy. They had no option than to send back Owuo’s drinks to end the marriage.
Kofi Owuo alias Death By Poverty did not contest the issue. He was more engrossed thinking about how to become poorer than to contest what he called a frivolous matter. The wife could go to hell, he said. These are people longevity smiles upon. Nothing worries them.
Getting back to talking about journalists. I’d say that anywhere there is journalism, the issue of press freedom is not too far away. Is the press free? That’s one question foreigners want answer to when they are on visit.
Well, journalists celebrate a yearly WORLD PRESS FREEDOM DAY to drum home the idea of press freedom as a very important thing in the practice of journalism.
This year’s was celebrated almost a fortnight ago but people didn’t see much of us because we are normally not good celebrants. We should have mounted a float to roam the entire capital, dancing asaboni to brass band music just like PTC did recently.
Although journalists are known to be very good dancers because they walk very much, on that day, they were all busy writing. It was the Minister of Information, Mr Kofi Totobi Quakyi who saved the day by addressing a forum organised to mark the day.
He is a man I’ve always admired since his radical university days. He spoke much on press freedom, cautioning the press not to abuse the freedom granted by the Fourth Republican constitution, but to use it for the progress of society.
Well, press freedom has been defined by many journalists as the freedom to ‘write nonsense’. This definition is not quite accurate. I asked one staff reporter to define press freedom. It took him fifteen minutes to put up something.
“Press freedom is the freedom that is enjoyed by the press that enables journalists to publish or broadcast any kind of material so long as it is absolutely true, is not libelous and slanderous, and is not against the national interest.”
I gave him eight out of 10, a straight A. I guess every journalist is old enough to know that certain things he or she writes is for or against the national interest. We certainly must guard against writing against the national interest; that is very important.
There is also the question of criticising government. The government can be criticized, so long as the criticisms are genuine and the President and his ministers are not insulted and called names. Let us criticize, but let us do it decently so that the journalistic profession can be revered, and its nobility acknowledged. We are not war mongers, are we?
One area in which journalists are not spoken well of is the complaint that they misquote people. Journalists sometimes misquote people, but in four out of five complaints it turns out that nobody is misquoted after all.
When we interview people they say things unreservedly and we publish unreservedly. When the publication is out and their friends or superiors read it and accuse them of having said too much to the press, then they start claiming they were misquoted.
We have encountered these ‘misquotation palaver’ every now and then and reporters are usually accused of this transgression. However, when they bring out their note-books or recorders, it is realised that they wrote nothing out of the way. “Book no lie”.
My advice to people who deal with the press is that if they do not want anything written, they shouldn’t say it. What they want to say is OFF-RECORD, then of course, there is no reason to say it. When you say it, you’re taking a risk. In that instance, you can’t also claim to have been misquoted or words put into your mouth.
And it isn’t every journalist who would be circumspect in matters that are supposed to be off-record, because journalists often want to be as sensational as possible to make their stories saleable. So say just what you want to see published and you won’t later regret it and claim you were misquoted.
Well, I’m not holding brief for journalists, because a few of us are notorious for colouring our reports sometimes sand-papering the words so much that they look very bright in front of readers.
As I once said, when the police tells one such notorious pressman that the thief stole a brown goat, the pressman would want to know whether the goat was bearded. Of course, the police would say ‘Yes’.
However, in the press report, it appears, “A gang of notorious goat-thieves were apprehended in the early hours of yesterday. In the car in which they were riding was a brownish-red goat having a long beard. Upon further examination, it was realised that the goat also had a greyish moustache.”
When the story appears, the police are naturally disturbed. A single thief turns out to be a gang of thieves. The goat also becomes a chameleon and changes colour to brownish-red. And a moustacheless goat overnight wears a greyish moustache whether you like it or not. Luckily the journalist does not add that the moustache was trimmed by a Swedish barber.
Yes, we have a few of such mischief-creating, chronically notorious journalists. But they are one in a hundred. In any case, we make the world. And we shall always do our best to make it a happy place to live in.
This article was first publish on Saturday, May, 20, 1995
Features
Mindset change: The Greater Works factor- Part 2
When I hear of people who are of the opinion that they cannot make it in life unless they travel abroad, l become sad.
Whenever I see on TV, news of people, that is migrants who have drowned in the Mediterranean Sea, while attempting to cross to Europe, l become filled with sadness and then anger.
The underlying factor is desperation born out of loss of hope, in life. When an individual tends to believe that his only hope of making it in life is to travel abroad, the risk of dying at sea, does not deter him or her.
The role of some pastors on shaping the mindset of people, especially the youth, leaves much to be desired. You hear them declaring on various media platforms how they can pray for you to get a visa to travel abroad, instead of encouraging them to find something to do to improve their lives as the Bible teaches that God will bless the work of their hands.
The GREATER WORKS CONFERENCE is geared towards renewing the minds of people with a specific focus on people of African descent to rid themselves of the negative perception of lack of capacity to excel in life.
Pastor Mensa Otabil believes that every human being, no matter the skin colour, was created in the exact image of God and therefore has the capacity to do exploits.
The whiteman was not created in the image of God while the Blackman was created in the image of something other than God. The Black person therefore can achieve whatever the whiteman can achieve.
The development in terms of industrialisation that is lacking which has generated unemployment for the youth, is due to lack of effective leadership. The lack of moral integrity in society, is what is causing the lack of job opportunities, which is as a result of corrupt acts which drive away private investment.
A culture of inferiority complex exists which needs to be dealt with, so the African can develop the self worth necessary for personal development which can then result in capacity deployment to avhieve personal goals.
Success in life begins with the individual’s recognition that he or she is capable of achieving the dreams he or she has conceived in his or her mind. The Bible teaches that the fear of the Lord is the beginning of wisdom, and the knowledge of the holy is understanding according to Proverbs 9:10.
Christianity was the driving force behind the development of Europe because no society can sustain development without high moral values. GREATER WORKS therefore is a deliberate project to shape the minds of people, especially the youth, who will become the leaders of our future, to prioritise morality in their daily lives.
This is the only way to see a massive transformation in every aspect of our lives as Ghanaians and Africans in Ghana and the rest of the continent.
Since the inception of the GREATOR WORKS CONFERENCE, it has made a lot of impact in the lives of many people from the youth up to the senior citizens level. I recall the testimony of a church member who was motivated and pursued higher education and became one of the youngest Chartered Accountants in this country. Year after year, the impact of the conference has been enormous and lives in Ghana and across the continent, are being transformed.
Black people have started regaining their self confidence and the youth have started getting into areas that previously were considered out of bounds. At a personal level, certain ideas that some years ago, l would have not dreamt about suddenly has become realistic dreams.
The Christian lifestyle has impacted on my children and those close to me. Mindset change starts with one individual, then another and then gradually it spreads like a viral infection until a critical mass is attained and them a massive impact. There is hope for the future.
By Laud Kissi-Mensah




