Category Archives: Finance
Its amazing how quick humanity forget lessons that are meant to be learnt through events that we encounter. The world financial leaders must indeed show remorse for failing the world in the first place and be moderate and selfless in their decision making. Taking a cue from President Barak Obama and Prime Minister Gordon Brown’s advice, it should be the best reasoning to think over. Besides a failure in one part of the world now means the entire world must suffer, something so inevitable with the continious global villaging process. My point, let those in charge of the rest of us be mindful of our needs too and make room for our survival too. The recession might be ending but lets give it the space to settle down properly before we zoom in to events that brought it about.
Money Laundering has over years helped drug barons stay in business with assistance of certain financial institutions simply because some of these institutions are in one way or other benefiting from the illegal trade. Money frome drug transactions is put in to the formal f inancial system for future dealings thus enhancing continuity at the detriment of society and economies. Some banks in Africa are seen to be having returns that are not commensurate to their legal investment which sometime makes people to wonder how these bank are operating. In Africa,efforts are being made by goverments to put a stop to financial organisations aiding drug cartels to continue in business. Drug abuse in Africa is not helping the situation in any way. Most of the youth who are supposed to be contributing to the economies are either in drug or are influenced by drug barons to be either marketers or retailers thereby diverting their attention from normal schooling
In my opinion, that if finance should work for Africa, the activities of the banks must be closely monitored.
inviting your thoughts on venture capital? how accessible is the trust fund.share your experiences, small and medium scale companies.lets start the debate to make the fund more viable.
Ghanaians generally are an enterprising people who have been trading for centuries.However,they have not been able to uplift themselves out of poverty.The reason partly for this state of affairs is that lack of financial literacy.
I had an interview with the programme co-ordinator of ‘Junior Achievement’, Mr. Alex Ofosu at the Calvary International School at Medina in Accra, Ghana , on financial literacy programme for high schools.This programme is designed to help high school students to understand financial issues such as: savings,loans,insurance, and investment.
Africa is a continent where the consumer is left to suffer at hands of dishonest business and financial institutions simply because people in governance have over years failed to put in place or enforce regulations that would seeek the interest of the ordinary man in their various countries.
Price increase and even interest rates are not normally communicated to the consumer before hand so that he or she would have got prior knowledge before entering in to any transactions most times causing confusion and lack of confidence therefore making finance work for Africa very difficult.
Saving money with the bank is not only safe; it also ensures that people don’t miss out on the interest that goes with it. Interestingly, some Ghanaians still prefer to stick to the traditional Ghanaian way of saving, “Susu”. Bernard Agyemang visited the 37 Lorry station in Ghana and reports on what savings mean to some people in Accra.