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Feature Articles

Nigerian enterprises oiling Ghana’s economy

Before 2005, there were no fewer than 95 Nigerian commercial banks in an amorphous pack, with many of them showing deep signs of systemic malfunction and dense stress, requiring a surgical operation to avoid the unpleasant and unprecedented distress of the 1990s. So when Central Bank Governor, Chukwuma Soludo applied …

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Drugs trade threatens to destroy Ghana’s image

Hopes of future oil prosperity have given a lift to Ghana’s presidential election race, but drug trafficking threatens to spoil the West African country’s image with the stain of corruption. During the heated election contest, to be decided in a December 28 run-off, lurid headlines in the partisan press accused …

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Dumpong Rural Bank makes modest gains

Management of Dumpong Rural Bank increased its deposits from 760,000 Ghana cedis in 2006 to 1,059,000 Ghana cedis last year representing an increase of 40 per cent. The bank made a net profit of 10,094 Ghana cedis in 2007 as against a loss of 67,440 Ghana Cedis in 2006 while …

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Ghana’s image is glowing abroad, but beginning to show a few blemishes at home

Just a few years ago, democracy’s march across Africa seemed unstoppable. These days, it seems stalled: vote rigging in Nigeria, a convulsion of ethnic violence after disputed elections in Kenya and outright theft at the polls in Zimbabwe are among the most recent signs. That may be why those looking …

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Effective risk management in public sector enterprises

Poverty Reduction Strategies (PRS), Millennium Development Goals (MGDs), Structural Adjustment Programmes (SAP), Economic Recovery Programmes (ERP), and the other numerous multilateral and bilateral packages have for sure not given us the trajectory of wealth and prosperity. These strategies did not and have not provided a clear way of sealing off …

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Will a black Pope ever emerge in the Catholic Church?

Before the election of Cardinal Joseph Ratzinger, there was the papal “candidacy” of Francis Arinze. The Nigerian Cardinal had been billed as the man who could become the first black Pope, garnering loads of media attention during the run-up to the 2005 conclave when Ratzinger eventually emerged as Benedict XVI. …

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The layman’s glossary on financial crisis

The current financial crisis has thrown terminology from the business pages onto the front page of newspapers, with jargon now abounding everywhere from the watercooler to the back of a taxi. Here is a guide to many of the business terms currently cropping up regularly, as well as some of …

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Chinery-Hesse – Ghana’s Bill Gates

It’s just past midnight, and Herman Chinery-Hesse can’t sleep. The 43-year-old entrepreneur is lying on his back, eyes closed, mind cranking. He’s working through the details of a pitch to American and European investors — many of whom have never backed a company like the one he’s proposing. The pitch …

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Can wounded banks be nursed back to health?

In September, after the collapse of the American investment bank Lehman Brothers, the financial crisis took on a new and, frankly, rather frightening dimension. The Bank of England Governor Mervyn King said that the banking system had been closer to collapse than at any time since the outbreak of the …

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Ghana: A glimmer of hope emerging from Africa

The great historian A.J.P. Taylor, writing about 19th century European diplomacy, used words to the effect that “it would be tiresome, if every time a rule was established for the period, we had to add ‘except for the Italians’.” For the past generation, as benchmark after benchmark was passed in …

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