The prosperity of Ghana and the attainment of appreciable level of human civilization by Ghanaians to make us more acceptable to our White contemporaries as rational human beings worth their respect, are a long way from reaching if we have a former President of Ghana, Mr John Dramani Mahama, expressing completely balderdash views about the ongoing banking sector reforms in Ghana.
Yes, banks play a vital role in the social and economic development of every nation. In fact, it is one of the cardinal pivots on which the actual development of any successful nation revolves alongside credible government policies encompassing meritocracy, pragmatism and honesty. However, if this cornerstone, thus the support pillar, begins to crumble or bend badly, can it continue to play its vital role? The answer by any discerning person, except the few little-minds, will be a big NO!
Any cardinal pillar on which anything rests, when bent, must be repaired through straightening them up through reinforcement of their steel and concrete works. Any damaged component must be gotten rid of and replaced but not merely senselessly maintained; concealed in more concrete thrown around them. If you do maintain the bent or broken parts, the pillar will not last long no matter how many tonnes of concrete you spray around it in the hope of repairing the pillar to enable it to perform its foundational support function.
In the morning of Friday, 23 August 2019 at about 06:00 (BST), thus 5am Ghana time, while I was wide awake but still relaxing in bed, I intuitively was goaded to publish an article in reply to former President John Dramani Mahama's childish rubbishing of the ongoing banking or financial sector reforms, using the biblical talents given to three persons by a rich man.
In Mr Mahama's dire quest to stage a successful comeback to lord himself corruptibly, greedily and in a manner bordering on cronyism on Ghanaians, he is absurdly playing the populist card, the presumed easiest way of winning general elections. However, as man proposes and God disposes, my intuition has urged me to lay bare his ignorance and craftiness to taking Ghanaians always for fools because they have a short memory.
Find below the full text of the Parable of the Talents. I have reproduced it below for the sake of, and easy accessibility by, those who may not have a bible handy to read about it and so may not bother going to read it at all.
The Parable of the Talents
14 “For it will be like a man going on a journey, who called his servants[a] and entrusted to them his property. 15 To one he gave five talents, to another two, to another one, to each according to his ability. Then he went away. 16 He who had received the five talents went at once and traded with them, and he made five talents more. 17 So also he who had the two talents made two talents more. 18 But he who had received the one talent went and dug in the ground and hid his master's money. 19 Now after a long time the master of those servants came and settled accounts with them. 20 And he who had received the five talents came forward, bringing five talents more, saying, ‘Master, you delivered to me five talents; here, I have made five talents more.’ 21 His master said to him, ‘Well done, good and faithful servant.[c] You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ 22 And he also who had the two talents came forward, saying, ‘Master, you delivered to me two talents; here, I have made two talents more.’ 23 His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ 24 He also who had received the one talent came forward, saying, ‘Master, I knew you to be a hard man, reaping where you did not sow, and gathering where you scattered no seed, 25 so I was afraid, and I went and hid your talent in the ground. Here, you have what is yours.’ 26 But his master answered him, ‘You wicked and slothful servant! You knew that I reap where I have not sown and gather where I scattered no seed? 27 Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest. 28 So take the talent from him and give it to him who has the ten talents. 29 For to everyone who has will more be given, and he will have an abundance. But from the one who has not, even what he has will be taken away. 30 And cast the worthless servant into the outer darkness. In that place there will be weeping and gnashing of teeth.’
From the parable, did the one that received one talent and returned same to the owner given any further chance to go and trade with it in order to make profit? No; his one talent was taken away from him. Further to that, he was punished.
Most of the collapsed banks, microfinance and savings and loans institutions have come to their demise as a result of their own mismanagement, the insatiable greed by their shareholders, cunning desire to steal from their customers and the government by their owners etc. This assertion was the view of KPMG tasked to audit the banks that were finally consolidated into one. Some of the microfinance and savings and loans institutions were purely Ponzi schemes by the scrutiny of their operations. The owners and the shareholders were living fat on the money of their customers and also, on the bailout funds thrown to their rescue by the government, according to the findings by KPMG as confirmed by the Bank of Ghana, if I may not be wrong. Their problems were not only compounded by the recapitalisation sum of money so set by Bank of Ghana but their attitudes as just stated above.
Why should further bailout money be thrown to their rescue as preposterously being suggested and admonished by the clueless, incompetent and short-sighted former President John Dramani Mahama? The fact that most of the customers of the collapsed banks, microfinance and savings and loans institutions are pissed off with the President and NPP government, accusing them of collapsing the banks hence causing them to lose their savings or businesses, should not compel the Bank of Ghana from cleaning up the sector. Those few crafty individuals managing the banks with their agents and assigns should not be left alone to rob the people and the nation as and when they want?
A lawyer once sent to my WhatsApp page a PDF document on a book of 1,000 pages. The book says, "If you want to rob a bank, create your own bank". The writer was telling how you can become rich by creating a bank and cleverly expropriating your customers money. I read a few pages on my phone before I lost the phone. Is the writer not correct concluding from the activities of Nana Appiah Mensah (NAM 1) and some of the owners and shareholders of the other collapsed financial institutions?
Were some shareholders of certain banks not found to have taken millions of Cedis of money given to them by the Bank of Ghana to enable them stay in business when they had run into distress? Does former President Mahama expect the government to continually throw the taxpayers money to them while a few people at the bank continue to siphon the money for their selfish or personal use? What a myopic President he was and will continue to be?
Finally, did his younger half-sibling, not take about US$58 million or GHS58 million loan from Merchant Bank and refused to pay back leading to the receivership or bankruptcy of the bank? Did the same person not take a loan of GHS302 million from UT Bank and never paid back? Proper banking regulations were not followed when granting the loans to some people, especially, the brother of former President John Dramani Mahama. He calls himself a successful businessman yet he takes huge loans and never pays them back. He issues dud cheques to clear his imported goods from the harbours. If everyone were granted same facility, everyone in Ghana would be a rich person. Taking 302 million Ghana New Cedis in loan without presenting any collateral security. All those people at the bank who facilitated the loan should have been prosecuted and jailed by now but because laws are not enforced in Ghana, they are still driving around and walking down the streets free persons. Nonsense!
With all these failings, whether collaboratively collusively done with intent to cheat the nation and the taxpayers, or done out of lack of professionalism and competence on the part of the bankers, former President John Dramani Mahama, a known corrupt individual, wants more money to be used to bail the failed financial institutions only for his brother to continue to avail himself of the money without ever paying it back. Shame on him for talking without reasoning!
It is sad to see some fellow Ghanaians giving audience and credence to this failed former President who loves money dubiously acquired than actually serving the nation.
I had planned to cease involving myself in further political activities but to stay on the sideline while crooks like former President John Dramani Mahama goes out fooling Ghanaians in the way he is conducting himself, will have made me a failure in my vouched determination to be of service to my people and my country.
Very unfortunately, all the nation's leaderships, both present and past, have greatly failed the Ghana and her citizens in one way or the other looking from the content of the underlying video found on YouTube under the heading, " The Secret of How Singapore Became a Developed Country...(MPH)"
Ghanaians should blame themselves for their love of glorifying corrupt individuals and how quickly they allow themselves to be bought with as little as GHS50 during general elections. Why will our leaders like former President Mahama not always take us for fools and for people who have a short memory hence must not be listened to, if we behave so irresponsibly ourselves by always kowtowing to them and praising them for all the crimes they commit?
Stay tuned for more from me.
Saturday, 24 August 2019
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