Adu Koranteng wins two awards @2016 IFEJ-Flamingo Award

Kwabena Adu Koranteng a journalist with the New Crusading Guide who is also the Business News Editor of the Paper was on Friday, 27 January adjudged the Best Journalist in Extractives and Development Stories at the third IFEJ Flamingo Awards.

Mr Adu Koranteng, a beneficiary of the Natural Resource Governance Institute (NRGI) training on the extractives and the 2016 summer School who was present at the event won the award for the Best in Extractives and Best in Development news stories

Speaking at the awards event organized by the Institute of Financial and Economic Journalist (IFEJ) at the Dubois center in Accra, on the theme "Strengthening Micro Finance Institutions to enhance the growth of rural and micro enterprises", Professor Ernest Aryeetey, a former Vice Chancellor of the University of Ghana stressed the need for Ghana to emulate countries like Sri Lanka and Kenya in the regulation of microfinance institutions.

He said regulation of the microfinance sector would be more workable when linked to larger financial institutions like banks, as practiced in Sri Lanka and Kenya.

He said the microfinance business was a risky one and players needed partners, such as commercial banks to share those risks by linking with other initiatives such as education.

"Microfinance can make a difference but depends on how it is managed, structured and regulated.’

Mr Lloyd Evans, President of IFEJ, urged media practitioners to highlight and promote the activities of Small and Medium Enterprises (SMEs) in order to harness their potentials.

"SMEs, when well-developed, can fill the unemployment vacuum the country is currently saddled with, “he added.

Mr Evans announced that IFEJ would collaborate with the Africa Centre for Economic transformation to hold a series of training programmes for its members, among other initiatives.

Others winners at the awards are; Rebecca Adwoah Awuah of GBC 24 - Best Business/Manufacturing, Maxwell Akalaare Adombila of Graphic Business - Best in Agribusiness, Adnan Adams Mohammed of Economic Times - Best in Finance, Famous Atitsogbe, Best in Tourism and Best in Microfinance/Rural Banking and SMEs.

Mr Alhassan Andani, Managing Director of Stanbic Bank Ghana Limited, who chaired the event urged Journalists to be diligent in their work as a single mistake could create confusion.

He gave the assurance that banks in Ghana would be ready to partner serious microfinance institutions to help grow the sector.