The theft of Ghana's rural treasure

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• Marcus Ampadu 7 years ago

  We must reach deep within our hearts to put an end to the current urban bias, and unfurl rural rennaissance - starting with massive rural electrification systems, utilizing renewable sources of energy to initiate thousands ...
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  We must reach deep within our hearts to put an end to the current urban bias, and unfurl rural rennaissance - starting with massive rural electrification systems, utilizing renewable sources of energy to initiate thousands of cottage industries in our villages, all linked by infrastructural development to propel a national take-off.

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• E. A. ADU GYAMFI 7 years ago

  An NDC Member of Parliament went to his constituency to campaign for votes. Then some of the youth demanded what the MP has actually done for them since he assumed office. The MP smiled and began to talk, "My people, you alwa ...
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  An NDC Member of Parliament went to his constituency to campaign for votes. Then some of the youth demanded what the MP has actually done for them since he assumed office. The MP smiled and began to talk, "My people, you always vote for me because you like me, and I appreciate that. But I have a question to ask you. All of us know that many people support football teams like Kotoko, Chelsea, Barcelona and Real Madrid. What benefits do the supporters get from these teams? Do these teams build houses, hospitals etc for the supporters? But do the supporters complain? The supporters support those teams out of passion and love for the teams, not because they want the teams to give them tangible things. So you should vote for me and my party because of the love you have for me. Remember that we are brothers and sisters under one tribe and religion. Love for me is enough. And when I win again, I will prove to you how I also love you. Thank you."

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• C.Y. ANDY-K 7 years ago

  Micro-organisations is actually what I specialised in at my MPhil with micro-credit institutions as the theme of my dissertation, the rural banks of Ghana serving as my subject of study. I can therefore say on authority that ...
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  Micro-organisations is actually what I specialised in at my MPhil with micro-credit institutions as the theme of my dissertation, the rural banks of Ghana serving as my subject of study. I can therefore say on authority that the extremely poor and even non-existent supervision of the Bank of Ghana of these schemes is the major cause of these frauds. The BoG must accept blame and refund the deposits stolen.
  
  I listened in 1992/3 to Board directors and managers of affected rural banks narrate the woes that befell them, from the defunct Volta Premier Bank at Dzelukope to the Jakobo Rural Bank in the Ash/R. A new Board Chairman at the Volta Premier told me that even if angels were put in charge of that lot of money without any supervision, they'd have become corrupted and spend the money on charity to friends and families! My mother and auntie alone lost more in shares purchased than the lousy 100000 old cedis the BoG contributed to rural banks as seed money. I think only the deposits from the corn mills she was supervising for my snr. brother and sister's husband were eventually refunded. I'll ask again.
  
  I detected weaknesses in some which were expanding to urban areas, etc., and thought they were among the top ones listed as "satisfctorily performing" and not among the "mediocre" ones and so was not surprised when I later read of what befell them when branch managers and staff colluded to defraud them, e.g., the Shama Rural Bank and the Amanano Rural Bank at Nyinahin, Ash/R.
  
  In the midst of all that grotesque lack of monitoring, under FINSAP, resources to the Rural Finance Dept was being curtailed without any new structures, reinforcing local supervision through training of directors and shareholders, being put in place to ensure their proper supervision. This was prior to the setting of the long overdue Apex Bank. A Grameen Bank organisational structure would have been much, much better but even graduates in the Rural Finance Dept and RB manasgers never heard of Grameen Bank! I was dumbfounded! Some aggrieved senior staff in the RFD, who turned out to be my juniors in secondary school, gave me the low-down - even a World Bank fund secured for training abroad was returned without being used!
  
  This lack of supervision has also been established by a UNDP Survey of micro-credit organisations all over the world as the major cause of the misfortune of the rural banks, on which a sizeable portion of the book was devoted to. I was surprised that book was not available in Ghana despite teh fact that it was clear the BoG supplied a lot of data for that survey. I had to be making for them copies of the section on the rural banks which I took with me. I couldn't get time to visit the UNDP Office to confront them about not making even a copy of the book available to BoG 'cos I was obstructed by the mere signature of a most backward officer at the BoG Head Office that thought he was big shot from getting access to the BoG library so that, among other things, I could verify for myself first that such a book wasn't presented to them, as claimed by the staff at the Rural Finance Dept.
  
  It was high time the BoG face its responsibilities squarely and play its monitoring role of micro-crdit schemes in the country, or don't licence them. But I doubt it. I found out that the people in charge in Ghana - in govt and at the BoG - are so bloody ignorant that they don't have a clue what is to be done anyway. After a GIMPA Conference on Micro-finance co-sponsored by the World Bank in first qtr of 1993, I freely told them my mind and it wasn't pleasant. That was after we all had had enough of the generous booze and small chops in our bellies.:-) There was one man, a Dzikunu or so, with American accent who was said to be very intelligent but an alcoholic who joined me in blasting the big shots there.
  
  The scope for banking in Ghana was so huge then, and even now, but they couldn't see it. Rather, they were closing down branches of Ghanaian owned banks such as the GCB, ADB, Co-op Bank, etc. None of them now exist in my home town of Anloga, thereby causing untold problems in banking, etc. Even the urban centres were extremely poorly served, with room for great expansion of networks. That's the scope that the Nigerian banks, local banks and the multitude of dubious micro-credit schemes are filling. Even Papa Kwesi Nduom's GNB has more branches than the much older GCB in Accra, I found out recently to my surprise. But it is the ripping off of the rural areas and people, where the bulk of Ghana's wealth in GDP comes from, that I am concerned with. They need more attention than they presently get.
  
  Andy-K

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• Genteel 7 years ago

  Dissertation is for doctorate and thesis is for master's degree, which is what you hold. Learn to know the difference.

  Dissertation is for doctorate and thesis is for master's degree, which is what you hold. Learn to know the difference.

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• Kwobia (Toronto) 7 years ago

  Ghana's over centralized system of governance,means that local governments do not have the power and means to deal with local issues.Infact, at the local level many Ghanains are not aware of their basic rights as citizens.Is ...
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  Ghana's over centralized system of governance,means that local governments do not have the power and means to deal with local issues.Infact, at the local level many Ghanains are not aware of their basic rights as citizens.Is it any wonder that people are being easily fleeced.

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