Connect with us

Features

Any justification for National Development Bank in Ghana? (Part 2)

• President Nana Addo Dankwa Akufo-Addo launching the Bank in Accra last month

• President Nana Addo Dankwa Akufo-Addo
launching the Bank in Accra last month

In Part 1 of this article, an attempt was made to find out whether there is actually any need for a National Development Bank. In line with this, it was pointed out that generally, development banks serve as important instruments to promote economic growth. It was also explained that they usually do this by providing credit and a wide range of advisory as well as capacity building programmes to stakeholders.

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 to both private and public sector institutions.

CRUCIAL ROLE IN RURAL CAPITAL FORMATION

Advertisement

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?

Advertisement

With regards 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 ten 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 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 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

Advertisement

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 wrongdoings in the past.

Advertisement

If, therefore, President Akufo-Addo’s government has come to this realisation and taken up steps aimed at righting all the economic wrongs, then this positive agenda ought to be supported by all the political parties, especially those who claimed 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, Nkrumah rightly declared that our independence will not have any meaning unless it is 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.

Advertisement

If Ghana’s independence is to become realistically meaningful, then her 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 in-dwelling in us in the form of “God bless our homeland Ghana, and make us great and strong.”

By Dr. Kofi Amponsah-Bediako

Contact email/whatsApp
address of author:
Pradmat201@gmail.com
(0553318911)

Advertisement
Continue Reading
Advertisement

Features

The Prophet part 9

Antubam followed her. She indicated for him to sit down. She was about to call Mary when she emerged from the hall, followed by Suzzie.

“It’s good you are both here,” she said. “There’s something I need to tell all three of you. Mr Antubam, I will not waste time on your so-called interest in me, because you and I are two very different people with absolutely nothing in common. The main point I want to make now is that your so-called church is nothing but a fraud with which you are deceiving people who may be ignorant today, but are still precious in God’s sight.

Apart from deceiving them and enriching yourself, you are using God’s name to commit fraud. Today you may be enjoying money, food, alcohol and women, but you will certainly pay a high price for it, unless of course you are willing to repent now. My concern is for my two sisters.

I am demanding that they cut all links with you, now. No visits to your home or church, and no telephone calls. I have told them to give you back every penny you have given them. I am prepared to find money to pay whatever they owe you. That is all I have to say.”

Advertisement

Antubam rose, furious, and point­ed his finger at her.

“Let me warn you, Betty. Yes, I am interested in you, and I am ready to take care of all your needs, even to rent a house and buy a car for you. But I will not allow you to insult me. You better withdraw those words you have used against me now, or I will deal with you very soon.”

“Don’t make me laugh, Antubam. You? Deal with me? Why don’t you deal with me now? You have to wait till you go to the shrine and beg the fetish priest to deal with me? See how miserable you are? I dare you! Leave my house now, and go to that miserable fetish priest and get him to rain down all his powers on me!”

“You will see!” Antubam declared as he moved towards his car. He hesitated for a moment to see if Mary and Suzzie would walk him to the car, but noticing that they were firmly glued to their seats he got in the car and drove home.

Advertisement

He got out of the car and went straight to the drinks cupboard, poured himself a full glass of whisky and gulped down half of it. He sat down and called his batman, Kofi Takyi.

“Which two women did you call today?”

“Aggie, one of the new members is in. She is having supper in the guest room. Priscilla will be coming around 9pm.”

“Good work, Kofi. Now, get me my food.” After wolfing down the fufu and light soup, he gulped down the other half of the whisky and stretched out on the sofa and began a smooth, rhythmic snore. Priscilla entered, walked over and, shaking her head, strolled to the bedroom.

Advertisement

Betty came from the shower to find the two friends still glued to their seats.

“Well? Aren’t you two going to say anything?”

“I have something to say,” Mary said. “I don’t understand you, Betty. You want us to cut all links with Antubam, and to refund all the money he has given us. Now, when we do that, do we come back here tomorrow, sit and stare at the sky and hope and pray that our holy sister (Betty) will bring us manna to eat?”

“Such a stupid statement must not come from you, Mary. What hap­pened to your WASSCE qualifications and your intelligence? Here’s some free advice. Get on the internet. Submit applications for university admission. I am prepared to pay for the two of you. And from tomorrow, start studying the Bible seriously, with the intention of doing what it says. I assure you, there are solu­tions in the Bible for every problem you face today, and will face tomor­row. All you need, Mary, is to use your God-given intelligence. How could you stoop so low as to take money from a common thief and drunkard like Antubam?”

Advertisement

Suzzie rose quietly and held Betty’s hand. “Do you know, Betty? Until a few minutes ago I did not know that you cared so much about me that you consider me your sister. I promise you. We will do as you say. Mary, we will go and collect the rent money, add it to all the money we have taken, and pay it into the ac­count. From tomorrow, Betty, Mary and I will follow you wherever you go’. With tears streaming down her cheeks she walked away.”

Antubam got up with a start. He checked the time on his phone. It was midnight. He sat up, and was moving towards the bedroom when he heard the voices.

“Is anything the matter?” he said. “You have never come here at this time. I thought you only come at dawn.”

“We are always here. We only contact you when we have to. We have to warn you. That girl is trouble. If you don’t leave her alone there will be problems.”

Advertisement

“I don’t understand. I can’t leave her alone. I must sleep with her as many times as possible, conquer her. Why can’t you get her for me?”

“She is firmly buried in the book. You are sleeping with two women every night, and there are many more available in the church. Leave that girl alone?”

“Do you fear her? What book is that? I don’t know why…..” before he could finish the sentence sever­al flashes of pain like a horsewhip on fire cut across his back, and he yelled, bringing Priscilla and Aggie from their rooms.

“What is it, Antubam?” Priscilla asked.

Advertisement

“Er…er. I saw a revelation about a church member who is in some trou­ble. I need to pray for her. Please go back to the rooms. I will join you soon.” Aggie went to the room, but Priscilla lingered.

“Antubam, why don’t you tell me what the problem is so that I can help you? It appears you have just received some spiritual lashes. Are you being punished for something you have done?”

“Perhaps your husband is punish­ing me for sleeping with you.”

“Do you dare insult me, Antubam. You will certainly regret speaking to me like this?”

Advertisement

“You have a loud mouth, but your only abilities in life, Priscilla, are sex and extorting money. I will come and sleep with you shortly, and give you money in the morning. Now leave!” She slipped out quietly, and the voices resumed.

“Next time you talk like that you will receive a much bigger punish­ment. We are only trying to protect you. You are planning to go to the shrine tomorrow morning to invoke curses on the girl. Be careful. Our master may grant your wish if you press him, but you may regret it.”

“I am sorry if I sound ungrateful, but I just can’t resist that girl. She is so beautiful and sexy. Moreover she has insulted me, and I must punish her.”

“Remember we warned you. You are already in danger. One of your competitors is asking questions about you, and thinking about the possibility of dealing with you. Je­hoshaphat Agyiri. Everyone calls him Gidigidi.”

Advertisement

“I have heard of him. But what have I done?”

“He belongs to us. We work for him. He wants to check if you will threaten him. He can’t do you any harm as long as you use the stick. But your main problem will come from the girl.”

“Thank you for your help. As for the girl, please talk to Nana Broni for me. I am ready to pay anything for the pleasure of catching that girl in my bed and disciplining her.”

“Antubam,” Priscilla started, “are you going to apologise for the way you spoke to me? And are you going to apologise for bringing another woman here even though I am here with you?”

Advertisement

“Are you going to collect money from me tomorrow morning, Priscil­la?”

“Get into bed, you idiot. I wonder why those women in the church can­not see you for the cheap fraudster you really are.”

Antubam took off at dawn, and arrived at the shrine before five.

“You are welcome, Antubam. We know, yet we still ask, as the saying goes. What brings you here?”

Advertisement

“You already know, Okomfo. I must have the girl at all costs. I am prepared to pay anything.”

“I have already consulted Nana Ama Kokoben. I have prepared a fire for her. She will be here any minute, with her mirrors. What you are asking is beyond me, but she is willing to help you. Ah, here she is.”

The small woman sat on a stool next to Okomfo, and stared into Antubam’s eyes for several minutes.

“I will try to help you, but the effort will come from you.” They moved over to the fire, and she placed the two mirrors over the fire.”

Advertisement

“Look! You will see the girl. Take this needle. When she appears in the mirror, pierce her eyes with the needle. By the time you get back to Tafo she will be at your house. From today, she will follow you just as a dog follows its master.”

By Ekow de Heer

Advertisement
Continue Reading

Features

Toothache: Understanding the causes, symptoms, and treatment options

A toothache is a painful sensation in or around a tooth, which can be caused by a variety of factors.

It is a common dental emer­gency that can affect anyone, regardless of age or oral health.

Toothaches can range from mild to severe and can be ac­companied by other symptoms such as swelling, sensitivity, and difficulty chewing.

Causes of toothache

Advertisement

There are several causes of toothache, including:

1. Tooth decay: Tooth decay is the most common cause of toothache. It occurs when bacteria in the mouth break down the enamel of the tooth, creating a cavity.

2. Gum disease: Gum dis­ease, also known as periodontal disease, can cause toothache. It occurs when bacteria in the mouth infect the gums, causing inflammation and pain.

3. Cracked tooth: A cracked tooth can cause toothache. This can occur due to biting or chewing on something hard, or due to a blow to the mouth.

Advertisement

4. Dental abscess: A dental abscess is a pocket of pus that forms in the gum tissue. It can cause severe toothache and swelling.

5. Grinding or clenching: Grinding or clenching the teeth can cause toothache. This can occur due to stress, anxiety, or a misaligned bite.

6. Loose or broken filling: A loose or broken filling can cause toothache. This can occur due to wear and tear, or due to a blow to the mouth.

Symptoms of toothache

Advertisement

The symptoms of tooth­ache can vary depending on the cause and severity of the condition. Common symptoms include:

1. Pain: A sharp, stabbing, or dull ache in the tooth or surrounding gum tissue.

2. Sensitivity: Sensitivity to hot or cold temperatures, sweet or sour tastes, or pres­sure.

3. Swelling: Swelling of the gum tissue or face.

Advertisement

4. Difficulty chewing: Diffi­culty chewing or biting due to pain or discomfort.

5. Bad breath: Bad breath or a bad taste in the mouth.

Diagnosis of Toothache

Diagnosing toothache typical­ly involves a combination of:

Advertisement

1. Visual examination: A visual examination of the tooth and surrounding gum tissue.

2. X-rays: X-rays may be tak­en to check for signs of tooth decay, abscesses, or other problems.

3. Percussion test: A per­cussion test, which involves tapping on the tooth to check for sensitivity.

Treatment options for tooth­ache

Advertisement

The treatment options for toothache depend on the cause and severity of the condition. Common treatment options include:

1. Fillings: Fillings may be used to repair a tooth that has been damaged by decay or trauma.

2. Extractions: In some cases, a tooth may need to be extracted due to severe decay or damage.

3. Root canals: Root canals may be performed to remove infected pulp from the tooth.

Advertisement

4. Crown or bridge: A crown or bridge may be used to repair a damaged tooth or replace a missing tooth.

5. Pain relief: Pain relief medication, such as ibuprofen or acetaminophen, may be prescribed to manage pain and discomfort.

Home remedies for tooth­ache

There are several home rem­edies that can help to alleviate toothache, including:

Advertisement

1. Cold compress: Applying a cold compress to the affected area can help to reduce pain and swelling.

2. Salt water rinse: Rinsing the mouth with warm salt wa­ter can help to reduce pain and inflammation.

3. Cloves: Applying a clove to the affected tooth can help to numb the area and reduce pain.

4. Over-the-counter pain relief: Taking over-the-counter pain relief medication, such as ibuprofen or acetaminophen, can help to manage pain and discomfort.

Advertisement

Prevention of toothache

Preventing toothache involves maintaining good oral hygiene habits, including:

1. Brushing and flossing: Brushing and flossing regularly to remove plaque and bacteria from the teeth.

2. Regular dental check-ups: Regular dental check-ups can help to identify and treat oral health problems early on.

Advertisement

3. Avoiding sugary and acidic foods: Avoiding sugary and acidic foods and drinks can help to reduce the risk of tooth decay and erosion.

4. Wearing a mouth guard: Wearing a mouthguard can help to protect the teeth from injury during sports or other activi­ties.

Conclusion

Toothache is a common dental emergency that can be caused by a variety of factors.

Advertisement

Understanding the causes, symptoms, and treatment options for toothache can help individuals to seek prompt treatment and alleviate pain and discomfort.

By maintaining good oral hy­giene habits and avoiding sug­ary and acidic foods and drinks, individuals can reduce their risk of developing toothache.

By Robert Ekow Grimmond-Thompson

Advertisement
Continue Reading
Advertisement

Trending