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Solutions: Debts and Illicit financial flows, my perspective for Anglophone Africa Radio Presenters and Managers

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  The illicit financial flows that serve as by-product of capitalism or free market concept have distributive or ripple and networking effects on other conditions that threaten the welfare gains of the continent of Africa. Although, the concept has some advantages, as to encourage Multinational Enterprises or private sectors, national and international non-governmental organizations and International Intergovernmental Organizations that contribute largely to economic and financial growth, conflict prevention and many more which the traditional structures of States may not be able to achieve alone in the international arena. The cost of illicit financial flows or the loss from capital flights and the subsequent overwhelming debts to GDP ratios have immense challenges to economic stability that enable governments to invest adequately in agricultural research and rural infrastructural development that will facilitate food production and food security and poverty reduction as bei...

Drivers of Debts and Illicit financial flows, my perspective for Anglophone Africa Radio Presenters and Managers

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  Globalization is driving some waves across international fields of cooperation among States on trading and developmental issues despite emergence of international intergovernmental and non-governmental organizations that also operate within and through their borders. The traditional responsibilities of States as sovereignty are being stretched by these entities including food security governance structures which form one of the central parts of the cooperation. This has brought some opposite dimensions of opportunities to various developing countries, especially Africa. Even though, the continent enjoys some bilateral or multilateral dividends from entities in the international system. The malicious illicit financial flows activities have not been controlled by developed countries in the structures of their foreign policy to Africa.   Morgenthau (1948) emphasized that foreign policy is used as means to create balance of power among States, adopt imperialist approach and ...

Stop the Bleeding: Debts and Illicit financial flows, my perspective for Anglophone Africa Radio Presenters and Managers

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   Week 1: Understanding Debt and IFFs and its impact specifically on Women and Girls  Debt is simply money borrowed from another person’s, entity or country without intention to pay it back with interests either through bond or loan. Bonds are debt instruments issued by government to raise funds for projects.  World Bank, 2022, stated the debt stock of least developed countries has rose to $8.7 trillion in 2020. However, for many countries the increase was in double digits. Which most of them their external debts exceed their Gross National Incomes (GNIs) and Gross Domestic Products (GDPs), Africa where investors are not interested in domestic bonds and being worsened by Covid19 pandemic. Multilateral financial institutions accounted 92 percent of debts flows to Sub-Saharan Africa with 10 percent from bilateral lenders. The external debts of Africa have risen from 23.4 percent to 43.5 percent in between 2012 and 2020 respectively, with high debts to GNI and exports ...

Hasevi Curative Model

 We were told free market in capitalism breaks monopoly but forget monopoly revolves around corporate and political systems as well. Traders choose "corporate monopoly" to determine how to adjust their goods' prices for their personal interests than for humanity. State must invest in its production and supply chains to automatically adjust the market than solely dependent on private actors. Apart from inheritance, some billionaires are products of monopoly than creative entrepreneurship.

Treating Foreign Ministry as Goldfields

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   Currently, I wrote an article with the title "Ghana Must Work" which expounded on concerns for Local Governance reform that will enforce accountable and inclusive development. This will involve creating more rooms for Assemblymen/women to play dual roles in the Assembly system by encouraging independence of their works while contributing to the decision making process for more holistic assessments since they are the true reflection of their communities as well as the District. One of the very critical issues facing Africa as well as Ghana is our inability to create enduring and motivating systems that encourage our young graduates to stay and work in the continent. Gradually, we are losing our highly skilled youth workforces to advanced economics, some migrate through further study and remain abroad indefinitely without contributing to the GDPs of their root countries.  Although, our system may seem uninspiring at a certain stage of our youth development, it contribut...

Advocacy For Local Governance Reform

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I will emphatically reiterate the words of the former US President, Abraham Lincoln who defined democracy as the “government of the people, for the people and by the people”. This quote may clearly ascertain cyclical form of power or mutual transfer of power from a group of people to another group. Also per the Greek etymology, democracy refers to a system of government in which state power is vested in the people or the general population of a state. Currently, Ghana has witnessed the highest forms of democratic decay or backsliding which resulted in the reverse of the tenets of sound democracy or governance and put citizens on economic and financial slavery. However, this is not my major focus rather some loopholes that I have identified in our well-planned decentralization roadmap documents, thus Local Governance Act, 2016 Act 936. The Act contained a well-structured decentralized system but may not ensure utmost accountability and transparency, it seems this might need strong ...

Ghana's Ponzi-like Economy as signs of Failed Leadership

Nothing is irritating like seeing house flies hovering over one's wound just to feed on it or trying to keep the person restless by reminding him or her of the wound or a physician trying to lament to patients about the sicknesses he or she is employed to cure. This is how not just bad leaders but worse leaders look; from generation to generation, leadership is seen as the pillar of hope and protection of every aspect of human welfare. Our dispensation is just witnessing different scenarios of leadership; the process has just become ceremonial titles that everyone wants to acquire and show off at every pendant opportunity without adding or correcting any anomalies in their sphere of influence.  Taking a clue from Dr Kwame Nkrumah's leadership, it was obvious some are also born with unfading or yearning hearts to the service of humanity and can lay down their lives at tenterhook of adversity to bring relief to many without seeking their self-gratification.  Comparably, we can s...