?AngloGold Ashanti, the Ghana Stock- listed gold miners, has reaffirmed its continuous support to the University of Ghana?s Institute of African Studies in its research into the leadership and works ?of Kwame Nkrumah, the first President of Ghana.
?The late President?s vision of economic independence for Ghana, and the entire African continent, is one that we in AngloGold Ashanti ascribe to and, to this end, we will continue to support the Institute of African Studies (IAS) as it conducts research on the works and leadership of this great son of Africa?.
Addressing this year?s AngloGold Ashanti annual lecture at University of Ghana, Legon recently, Fred Attakumah, Vice President Sustainability Development of AngloGold Ashanti (Ghana) noted that AngloGold Ashanti initially provided US $400,000 towards the Kwame Nkrumah Chair when it was launched in 2007 and continues to fund the annual lectures on Business in Africa.
Mr Attakumah said ?discourses on various aspects of the African Business situation have since been delivered by leading business figures in Africa, including: Bobby Godsell, a former CEO of AGA who delivered the inaugural lecture; Mark Cutifani, another former CEO of AGA; our very own Dr. Tony Oteng-Gyasi, former Chairman of the University Council and Tito Mboweni, former Governor of the Bank of South Africa and Chairman of AGA.
The 2013 lecture attended by diplomats, Chiefs, Community leaders, lecturers politicians, government representative and students; focused on ?Microfinance: its revolution and impact on economic development and growth of emerging economics over the past three decades ? lessons for Africa and Ghana? and was delivered by Mrs. Felicity Acquah, who has 30year – experience in banking and business development.
Mr Attakumah said AGA community Trust Fund was launched last year to support people in the community and the funds have started making important inroads by providing much needed support to public basic and senior high schools within our catchment areas.
?Specifically, twelve – 15-seater fully air-conditioned Toyota minibuses and 140 desktop computers were donated to twelve senior high schools and 28 basic schools respectively last year, and the focus this year has been on providing educational infrastructure and investments in water and sanitation facilities for the benefit of our stakeholders?, he said.
Within the economic development component of funding by these Community Trust Funds, however, is the unique opportunity ?to deploy Microfinance as a critical intervention so table top sellers of provisions on our street corners, vegetable sellers in our markets, and women?s groups producing much needed palm kennel oil and locally manufactured soap, among many others, who traditionally have little or no access to the formal banking institutions, can now have permanent access to the credit they desperately require to grow their businesses to the next leve?l.
Such interventions put them in better stead to provide for their families? needs, especially as it relates to the education and health of their children who are the leaders of tomorrow and require all the support to achieve their potential.
In her presentation, Mrs. Felicity Acquah, former Chief Executive of EximGuranty Bank, traced the history and economic background of microfinance and noted that it has economically empowered and liberated millions of people, especially women in Asia and Africa from poverty.
She said microfinance has evolved over the past 30 years as a microcredit delivery system that often brings micro banking to the doorstep of low income earning people engaged mainly in informal trade and agro based business segments of economies.
Over the past three decades, through the practice of microfinance, individuals and businesses in both the formal and informal sectors have tripled turnovers, improved quality of housing, facilitated access to education to school children and empowered women to ease their dependence on their husbands and families.
The fact that the micro finance concept has succeeded in Ghana, given the proliferations of all kinds of micro finance institutions, does not mean it has no challenges, Mrs. Acquah said.
She therefore suggested mark improvement on banking frameworks, policies and networking strategies through collaboration with micro credit bodies, development partners, the Central Bank of Ghana, Ministry of Finance and Economic Planning and other APEX bodies to deal with the challenges.
Her other suggestion was that the informal sector, as the major beneficiary of the micro finance, has to be properly defined and structured in order to make future policies more relevant, and guide microfinance operations in Ghana and other African countries.
See Pictures From the Event
