17.11.2022 Feature Article

A quick note to Ohemaa Paaapabi Bertha Adu

explaining the import of a viral video recommending local lending markets instead foreign funding sources
A quick note to Ohemaa Paaapabi Bertha Adu
17.11.2022 LISTEN

Ohemaa Paaapabi Bertha Adu, in short, what the gentleman in that viral video says, is that in a COP-underpinned-era, in which lack of commitment to ESG-principles, can affect a nation's credit rating, negatively, it is much better for Ghana to rely on alternative sources of funding for projects, instead of foreign sources of funding projects.

Let moi give you an explanation in simple terms: For example, if Issa Ouedraogo had taken his unique and highly successful agrisector social-impact business, B-BOVID, to the Alternative Exchange of the Ghana Stock Exchange (GES), to raise capital for expansion, instead of accepting an approach from so-called foreign investors, Moringa, who turned out to be crooks fraudulently cloaking their unethical enterprise as a social impact agroforestry investor, to enable them use Ghana as a conduit for gargantuan-money-laundering, today, he wouldn't be fighting them to reclaim his life's work, and legacy.

So, in short, Ohemaa Paaapabi Bertha, he is recommending that Ghana looks to internal sources of funding (such as our capital markets, including the Ghana Stock Exchange, and the insurance sector, for example), to the Ghana government, if it needs to borrow longterm funding for development projects, instead of using its awoof-route-of-choice: money from canny Chinese banks, Eurobonds and the like -from which powerful and well-connected state-capture rent-seekers, make a killing, in small-percentage-commissions.

Unfortunately for Ghanaians, issues, such as the opacity of public procurement contracts, big-fat-brown-envelope-lobbying that gives stakes in businesses set up by foreign crooks out to rip-off Mother Ghana, to the big-thieves-in-high-places who dominate our system, and are destroying our natural heritage to mine gold with total impunity, contravene the now fashionable required-commitment to ESG principles (profit, people and planet, basically), which, in today's COP-underpinned era for humankind's progress, affect out national economy's outlook, in the arcane-calculations of the all-powerful rating agencies, such as Moodys. Hope that all the above helps, somewhat, in giving you a much clearer big-picture of the import of that viral video - although it comes from an ignoramus and uneducated old fool: moi, Kofi Thompson. Cool.