THE CORONA VIRUS AND THE ECONOMY IN GHANA

THE CORONA VIRUS AND THE ECONOMY IN GHANA
PEOPLE TALK MUCH ABOUT THE EFFECT THE CORONA VIRUS WILL HAVE ON THE ECONOMY IN GHANA. AS UNDERSTANDABLE THIS DISCUSSION MIGHT BE, IS IT REALLY NECESSARY/ AND MORE IMPORTANTLY, WILL THIS DISCUSSION CHANGE ANYTHING?

IT IS TRUE THAT THE PANDEMIC HAS A STRONG EFFECT ON ECONOMIES WORLDWIDE. COMMODITIES, INCLUDED COCOA, HAVE GONE DOWN. OIL PRICES PLUNGED, AND STILL PLUNGE, IN RECORD SPEED. EVEN, THE GOLD PRICE HAS GONE SOUTHWARDS IN RECENT DAYS, THIS IS AGAINST ALL EXPERIENCE WE HAVE FROM OTHER CRISES. THEREFORE, ALL THAT SHOWS THAT THE CURRENT HEALTH CRISIS HAS AN IMPACT ON ECONOMIC DEVELOPMENT WORLD WIDE. BUT, CAN WE CHANGE THAT?

YES, WE CAN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

BUT NOT BY DISCUSSING PERMANENTLY HOW THE CORONA VIRUS AFFECTS THE ECONOMY IN GHANA. WE CAN ONLY CHANGE THE IMPACT OF THE CRISIS ON THE ECONOMY BY FIGHTING THE CRISIS ITSELF. WE DEFEAT THE CRISIS SUCCESSFULLY, THE REBOUND OF THE ECONOMY WILL COME ALMOST AUTOMATICALLY.  NEW INVESTMENTS WILL FLOW INTO ANY COUNTRY WITH A STABLE DEMOCRACY.  AFTER A BIG PLAGUE HIT GREAT BRITAIN SOME CENTURIES AGO, THE END OF IT WAS THE START OF INDUSTRIALISATION  THERE. FURTHERMORE, HISTORY GIVES OTHER EXAMPLES OF A NEW BEGINNING AFTER A CRISIS, ESPECIALLY AFTER A HEALTH CRISIS.

HERE IS WHAT THE WORLD – AND GHANA – HAS TO DO:

  1. DEVELOP A VACCINE AGAINST THE VIRUS AS SOON AS POSSIBLE.
  2. KEEP TO THE STRICT – BUT SIMPLE – INSTRUCTIONS CONCERNING HYGIENE AND SAFETY.
  3. SUPPORT YOUR NEIGHBOUR BY ADVISING HIM/HER AND STAND BY HIS/HER SIDE.
  4. DO EVERYTHING TO SUPPORT THE GOVERNMENT WITH KEEPING THE HEALTH EFFECTS OF THE VIRUS DOWN.

IF WE KEEP TO ALL OF THAT, WE WILL ALSO KEEP THE ECONOMIC EFFECTS ON OUR LIVES DOWN. STATISTICS HAVE SHOWN THAT THE PEAK OF VIRUS WILL PROBABLY BE 30-40 DAYS AFTER THE FIRST APPEARANCE.

https://www.investopedia.com/

AS A CONSEQUENCE, TRY TO KEEP THE HEALTH EFFECTS OF THE CORONA VIRUS DOWN, AND YOU WILL ALSO KEEP THE EFFECTS OF THE VIRUS ON THE ECONOMY DOWN.

AS A RESULT, DON’T TALK SO MUCH, BUT ACT. 

THE CORONA VIRUS AND THE ECONOMY IN GHANA ARE VERY MUCH ATTACHED TO EACH OTHER. BUT, THE EFFECTS DEPEND ON HOW MUCH WE DO TO FIGHT THE HEALTH CRISIS.

KEEP IN MIND: CORONA PRODUCED A HEALTH CRISIS, NOT AN ECONOMICAL ONE!

 

 

 

GSE WEEK FROM 09-03-20 TO 13-03-20 AND CORONA VIRUS

 

GSE WEEK FROM 09-03-20 TO 13-03-20 AND CORONA VIRUS WAS SOMEWHAT BORING AGAIN.MOVEMENTS WERE WITHIN A RATHER NARROW RANGE. BUT THAT CAN CHANGE IN THE NEXT FEW WEEKS, AS THE FIRST CORONA VIRUS CASES APPEARED IN GHANA. WILL IT CHANGE?

EXPERIENCE FROM OTHER STOCK MARKETS HAVE SHOWN THAT MANY FINANCIAL MARKETS REACT ON THE VIRUS WITH MUCH VOLATILITY. REMEMBER, VOLATILITY IS DEFINED AS FOLLOWS.

Volatility is a statistical measure of the dispersion of returns for a given security or market index. In most cases, the higher the volatility, the riskier the security. Volatility is often measured as either the standard deviation or variance between returns from that same security or market index.

In the securities markets, volatility is (we)often associate volatility with big swings in either direction. For example, when the stock market rises and falls more than one percent over a sustained period of time, it is called a “volatile” market. An asset’s volatility is a key factor when pricing options contracts.

https://www.investopedia.com/terms/v/volatility.asp

THAT SIMPLY MEANS THAT VOLATILITY TS A FAST AND UNPREDICTABLE CHANGE, MOSTLY IN THE NEGATIVE. OFTEN, THE ECONOMIC EFFECTS OF THE VIRUS ONLY MULTIPLY TRENDS WHICH ARE ALREADY PREVALENT IN THE GIVEN COUNTRY. THIS IS THE CASE, E.G., IN THE UNITED STATES, WHERE THE EARNINGS OF LISTED COMPANIES WERE ALREADY ON THE DOWNTURN.

OF COURSE, THE VIRUS WILL PROBABLY ALSO AFFECT THE GHANAIAN FINANCIAL MARKETS IN ONE WAY OR THE OTHER. THIS IS ESPECIALLY TRUE AS GOVERNMENT ANNOUNCED VARIOUS RESTRICTIONS. BY ALL MEANS, THESE RESTRICTIONS WILL AFFECT THE PROFITS OF GHANAIAN FIRMS.

ECONOMIC DEVELOPMENTS HAVE ALREADY AFFECTED OUR ECONOMY NEGATIVELY. OIL PRICES HAVE GONE DOWN BECAUSE OR QUARRELS WITHIN THE OPEC+ RUSSIA AND OTYTHERS. EVEN THE GOLD PRICE WENT DOWN SOMEWHAT. IN A WAY, THAT WAS SURPRISING, AS USUALLY GOLD IS A “SAFE HAVEN”. BUT, IN THIS CASE FIRMS AND GOVERNMENTS WENT OUT OF GOLD AND WENT INTO CASH. THIS IS BECAUSE MANY OF THEM WANT TO COMPENSATE POSSIBLE LOSSES DUE TO THE VIRUS.

NEVERTHELESS, I DON’T SEE ANY REASON FOR A FINANCIAL PANIC, AS I DON’T SEE A REASON FOR A HEALTH PANIC. FIRST OF ALL, OUR CONSUMPTION SHOULD GO ON AS USUAL, ALTHOUGH WITH SOME RESTRICTIONS. WE MUST LIVE WITH ECONOMIC RESTRICTIONS FOR SOME TIME, AS WE MUST LIVE WITH HEALTH RESTRICTIONS.

ON THE OTHER HAND, ANY HEALTH CRISIS IN A COUNTRY GIVES THE OPPORTUNITY FOR A NEW BEGINNING. WE WILL HAVE NEW DEVELPMENTS WHEN THE CORONA CRISIS IS OVER. THESE NEW DEVELOPMENTS WILL GIVE NEW INVESTMENT OPPORTUNITIES. AS GHANA IS ONE OF THE COUNTRIES IN AFRICA INVESTORS PREFER, NEW MONIES WILL FLOW INTO THE COUNTRY. AFTER THE DARKNESS OF THE CORONA VIRUS CRISIS, SUNSHINE WILL COME AGAIN OVER THE GHANAIAN ECONOMY, AND THEREFORE, OVER THE GHANAIAN PEOPLE.

SO, GSE WEEK FROM 09-03-20 TO 13-03-20 AND CORONA VIRUS MIGHT HAVE A NEGATIVE EFFECT ON THE ECONOMY AND THE FINANCIAL MARKETS. BUT THAT WILL ONLY BE IN THE SHORT TERM. IN THE MEDIUM AND LONG TERM, A NEW BEGINNING WILL HAVE A POSITIVE EFFECT ON THE GHANAIAN ECONOMY AND THE FINANCIAL MARKETS HERE.

STAY TUNED FOR NEW DEVELOPMENTS!

 

 

FINANCIAL AND ECONOMIC DATA GHANA JANUARY 2020 – 1

MPC-Press-Release-January-2020-4

Summary-of-Economic-Financial-Data-January-2020

THE MONETARY POLICY COMMITTEE (MPC) OF THE BANK OF GHANA (BoG) HELD ITS JANUARY MEETING LAST WEEK. AT THE END OF IT, THE BoG PUBLISHED THE SUMMARY OF FINANCIAL AND ECONOMIC DATA FOR GHANA/JANUARY 2020. THEY ALSO PUBLISHED THE MPC PRESS RELEASE CONCERNING THE MEETING. YOU CAN DOWNLOAD BOTH DOCUMENTS AT THE BEGINNING OF THIS ARTICLE. AS USUAL, I WILL DIVIDE THE OVERVIEW OF THE DATA INTO THREE ARTICLES. FINANCIAL AND ECONOMIC DATA GHANA JANUARY 2020 – 1 DISCUSSES PRICE DEVELOPMENTS, REAL SECTOR INDICATORS, AND MONEY MARKET RATES. THE SECOND ARTICLE ON FRIDAY WILL DEAL WITH FOREIGN EXCHANGE RATES, COMMODITY PRICES, AND EXTERNAL SECTOR DEVELOPMENTS. FINALLY, MONDAY’S THIRD ARTICLE IS FOR GOVERNMENT FISCAL OPERATIONS, MONETARY INDICATORS, BANKING SECTOR INDICATORS, AND STOCK MARKET PERFORMANCE. Continue reading “FINANCIAL AND ECONOMIC DATA GHANA JANUARY 2020 – 1”

GHANA STOCK EXCHANGE – BACK TO THE FUTURE?

SOME TIME AGO, THE GHANA STOCK EXCHANGE WAS ONE OF THE BEST IN AFRICA. LAST YEAR, IT DROPPED, AND DROPPED, AND DROPPED… IN 2020, HAS THE TIME COME NOW WHEN WE CAN SAY “GHANA STOCK EXCHANGE – BACK TO THE FUTURE”? Continue reading “GHANA STOCK EXCHANGE – BACK TO THE FUTURE?”

E-MARKETING WITH A WEBSITE THROUGH GHANA RESEARCH

IMPROVE YOUR BUSINESS WITH E-MARKETING WITH A WEBSITE THROUGH GHANA RESEARCH. FROM 1ST OF MARCH, 2020 ON, GHANARESEARCH OFFERS WEBSITE DEVELOPMENT AND WEBHOSTING FOR SMALL AND MICRO ENTERPRISES. THIS WILL COME FOR A MORE THAN AFFORDABLE AND COMPETITIVE PRICING. GHANARESEARCH KNOWS THAT THESE GROUPS OF BUSINESSES OFTEN LACK CAPITAL TO ESTABLISH AN EXPENSIVE E-MARKETING STRATEGY. THEREFORE, WE OFFER YOU THIS OPPORTUNITY. CONTACT US THROUGH THIS WEBSITE OR EMAIL US AT recklingenterprises@hotmail.com

YOU CAN ALSO CONTACT US THROUGH THE WHATSAPP NUMBER 0200523362 OR FROM A FOREIGN COUNTRY +233200523362

NOW YOU CAN ORDER THE WEBSITE FOR YOUR BUSINESS THROUGH GHANA RESEARCH!

CONTACT ME FOR FURTHER INFORMATION ON recklingenterprises@hotmail.com OR WHATSAPP ME ON +233(0)200523362!

Continue reading “E-MARKETING WITH A WEBSITE THROUGH GHANA RESEARCH”

BUSINESS MANAGEMENT FOR START-UPS – AN INTRODUCTION

starting-a-business-from-0-in-the-digital-era

BUSINESS MANAGEMENT FOR START-UPS – AN INTRODUCTION

WHY THAT?

I HAVE WATCHED A LOT OF SMALL AND MICRO BUSINESSES IN GHANA SINCE I AM RESIDENT HERE. ESPECIALLY, THERE WERE A NUMBER OF PETTY TRADERS AMONG THEM. MANY OF THEM COLLAPSE EVEN AFTER A FEW MONTHS. WHAT ARE THE REASONS BEHIND THE COLLAPSES? Continue reading “BUSINESS MANAGEMENT FOR START-UPS – AN INTRODUCTION”

WHY IS ACCOUNTING NECESSARY FOR A SMALL BUSINESS?

WHY IS ACCOUNTING NECESSARY FOR A SMALL BUSINESS, AND HOW IS IT DONE? THE ANSWER TO THE FIRST PART OF THIS QUESTION YOU WILL SEE WHEN YOU ASK YOUR BANK FOR A LOAN. ON THE OTHER HAND, EVEN IF YOU ASK A RELATIVE FOR THE MONEY, THE PERSON WILL BE EAGER TO KNOW WHETHER HE/SHE WILL GET THE MONEY BACK.

SO, WHEN YOU ASK FOR MONEY FROM ANYWHERE – ESPECIALLY FOR A BUSINESS – PEOPLE WILL ASK YOU WHETHER YOU MAKE PROFIT. EVEN FOR YOU IT IS BETTER TO KNOW WHETHER YOUR BUSINESS IS PROFITABLE. IF NOT, YOU WILL EAT INTO YOUR CAPITAL – AND YOUR BUSINESS WILL COLLAPSE. UNFORTUNATELY, THIS SCENARIO WILL THEN SURELY HAPPEN SOONER THAN LATER. (FOR BUSINESS STARTER, IT IS EVEN BETTER, IF YOU HAVE A SECOND SOURCE OF INCOME. AT THE BEGINNING, YOU CAN’T RELY ON YOUR BUSINESS MAKING ENOUGH PROFIT TO LIVE ON.)

SO, HOW WILL YOU DO YOUR ACCOUNTING? YOU DO NOT NEED TO MAKE IT VERY COMPLICATED. NOBODY WILL ASK YOU – AT THE BEGINNING – TO DO SOMETHING LIKE DOUBLE-ENTRY ACCOUNTING, ETC. OF COURSE, IF/WHEN YOUR BUSINESS BECOMES SUCCESSFUL, THIS WILL CHANGE IN THE FUTURE.

FOR NOW, A SIMPLE PLUS-MINUS CALCULATION WILL BE SUFFICIENT. THAT MEANS, YOU HAVE THREE COLUMNS. ONE IS FOR THE DATE,ONE FOR THE INCOME, AND ONE FOR THE EXPENSES. IN THE LEFT COLUMN, YOU WRITE THE DATE. IN THE MIDDLE COLUMN, YOU NOTE THE MONEY YOU RECEIVED, AND FOR WHAT YOU RECEIVED IT. IN THE RIGHT COLUMN, YOU WRITE HOW MUCH MONEY YOU SPENT, AND FOR WHAT YOU SPENT IT. AT THE END OF EVERY MONTH – OR PERHAPS EVERY WEEK – YOU SUM UP WHAT YOU RECEIVED AND WHAT YOU SPENT. READY IS YOU BOOKKEEPING FOR A MONTH.

NOW, FOLLOWING IS A BRIEF EXAMPLE FOR WHAT I JUST WROTE. LET US GUESS YOU SELL SECOND-HAND CLOTHES AND BAGS.:

DATE                                   INCOME                                EXPENSES
1.                                     20 (SALES OF 1 T-SHIRT)
5.                                                                                            15 (ELECTRICITY)
7.                                    50 (SALES OF 2 BAGS)
9.                                                                                           35 (RENT)
11.                                   15 (SALES OF 1 TROUSER)
15.                                  25 (SALES OF 1 BLOUSE)
23.                                 20 (SALES OF 1 T-SHIRT)
30.                                                                                         25 (SALARY)
TOTAL THIS MONTH 130                                            75
INCOME MINUS EXPENSE 130-75=55

THAT MEANS, IN THE RECORDED MONTH, YOU MADE A PROFIT OF 55.
GOOD JOB!

SO, THAT’S  WHY ACCOUNTING IS NECESSARY FOR A SMALL BUSINESS

FROM 1ST OF JUNE, 2020 ON, YOU CAN DO YOUR BOOKKEEPING THROUGH RECKLING ENTERPRISE. THIS WILL BE FREE OF CHARGE FOR MICRO BUSINESSES WITH A WORKING CAPITAL OF UP TO 5,000 GHC.

JUST GO TO https://www.recklingenterprise.com AND CLICK ON “SERVICES”. THERE, YOU CLICK ON “BUSINESS MANAGEMENT” AND FILL THE FORM. THERE, YOU CAN REQUEST THAT WE SHOULD DO THE BOOKKEEPING FOR YOUR BUSINESS. WE WILL THEN REPLY TO YOU WITHIN 24 HOURS FOR MORE INFORMATION ABOUT YOUR BUSINESS.

UNTIL 1ST OF JUNE, 2020, YOU CAN STILL REACH US WITH YOUR REQUESTS THROUGH https://www.ghanaresearch.org

WE’D LOVE TO HEAR FROM YOU!

IF YOU HAVE A FARM, CONSIDER A COOPERATIVE

A BRIEF INTRODUCTION TO AGRICILTURAL COOPERATIVES

 

IF YOU HAVE A FARM, CONSIDER A COOPERATIVE.

IN CASE YOU CONSIDER, YOU MIGHT WANT TO KNOW WHAT DEFINES A COOPERATIVE.

  1. A COOPERATIVE IS OWNED BY ITS MEMBERS. THESE MEMBERS FINANCE THE COOPERATIVE; THEY ARE ITS OWNERS AND CUSTOMERS AT THE SAME TIME.
  2.  IT IS A PRIMARILY A SERVICE PROVIDER FOR ITS MEMBERS, NOT TO SUPPLY ITS MEMBERS WITH DIVIDENDS.
  3.  A COOPERATIVE IS CONTROLLED BY ITS MEMBERS.
  4.  MEMBERS RECEIVE SHARES OF ANY PROFIT ACCORDING TO THEIR USE OF THE COOPERATIVE, NOT ACCORDING TO THEIR FINANCIAL CONTRIBUTION.
  5.  MEMBERS’ LIABILITY FOR DEBTS OF THE COOPERATIVE IS GENERALLY LIMITED TO THEIR FINANCIAL CONTRIBUTION.

THE ADVANTAGES OF AN AGRICULTURAL COOPERATIVE ARE THE FOLLOWING (AMONG OTHERS).

  1. THROUGH COOPERATIVES FARMERS MIGHT ACCELERATE THEIR COLLECTIVE INCOME ON THE MARKETS.
  2.  FARMERS CAN HAVE A BETTER ACCESS TO EQUIPMENT TO TOIL THEIR FARMS.
  3.  THEY CAN HAVE AN EASIER ACCESS TO CREDIR FACILITIES THROUGH THEIR COOPERATIVE.
  4.  THERE IS THE POSSIBILITY OF GETTING BETTER ACCESS TO THE GLOBAL MARKET PLACE BY THE COOPERATIVE USING TECHNOLOGICAL MEANS.

OF COURSE, THERE ARE ALSO DISADVANTAGES OF COOPERATIVES COMPARED WITH HANDLING YOUR OWN FARM SINGLE-HANDEDLY.

THE DISADVANTAGES MOSTLY LIE IN A MORE BUREAUCRATIC EFFORT IN DEALING WITH A COOPERATIVE, FIRST OF ALL, YOU MUST REGISTER A COOPERATIVE SIMILARLY TO A CORPORATION. FURTHERMORE, THE DECISION-MAKING PROCEDURE IS LONGER, BECAUSE THE MEMBERS MUST DECIDE COLLECTIVELY ON IMPORTANT MEASURES. THEY MUST GET AT LEAST A MAJORITY DECISION. LASTLY, THERE MIGHT OCCUR CASES IN WHICH THERE ARE DIFFERENT OPINIONS AMONG MEMBERS. THESE DIFFERENT OPINIONS MIGHT LEAD TO SEVERE PROBLEMS WITHIN THE COOPERATIVE.

BUT YOU MUST ALSO CONSIDER THAT THESE DIFFERENT OPINIONS MIGHT ALSO OCCUR WITHIN YOUR OWN FAMILY. IN CASE YOU WORK ON A FAMILY FARM, YOU COULD HAVE QUARRELS WITH YOUR PARENTS, YOUR SIBLINGS, YOUR HUSBAND OR WIFE. YOU HAVE TO SOLVE ALL THESE QUARRELS. CONSIDER THE COOPERATIVE AS YOUR FAMILY. IN THE COOPERATIVE FAMILY, YOU ALL MUST BALANCE DIFFERENT OPINIONS FOR THE SAKE OF THE OVERALL GOOD.

IF THIS ARTICLE GIVES YOU THE IDEA THAT IF YOU HAVE A FARM, YOU CONSIDER A COOPERATIVE, THEN DO THE FOLLOWING. DOWNLOAD THE BOOK AT THE BEGINNING OD THIS ARTICLE, AND READ IT. THE BOOK IS WRITTEN FOR ESTABLISHING COOPERATIVES IN THE U.S.A. BUT APART FROM THE LEGAL IMPLICATIONS, YOU CAN USE THIS BOOK FOR THE AFRICAN ENVIRONMENT, TOO.

AFTER THAT, YOU MIGHT THINK A COOPERATIVE IS THE RIGHT THING FOR YOU, BUT YOU HAVE MORE QUESTIONS. DISCUSS THE ISSUE OF AN AGRICULTURAL COOPERATIVE WITH PEOPLE WHO MIGHT HAVE THE SAME INTERESTS.

IF YOU THEN HAVE MORE QUESTIONS, YOU CAN CONTACT ME THROUGH “ENQUIRIES” ON THIS WEBSITE. YOU CAN ALSO CONTACT ME THROUGH recklingenterprises@hotmail.com OR MY WHATSAPP NUMBER 0200523362. (FOR PEOPLE OUTSIDE GHANA, IT IS +233200523362.)

BUILD MORE COOPERATIVES FOR A BETTER AGRICULTURAL BASE IN GHANA AND THE WHOLE OF AFRICA!

 

BUSINESS CONSULTANCY WITH GHANA RESEARCH

BUSINESS CONSULTANCY WITH GHANA RESEARCH

DO YOU HAVE A SMALL OR MICRO BUSINESS, AND YOU HAVE PROBLEMS MANAGING IT FINANCIALLY OR OTHERWISE?

OR YOU WANT TO ESTABLISH A SMALL OR MICRO BUSINESS, AND YOU HAVE PROBLEMS DOING THAT?

DON’T WORRY, I’M SURE I CAN HELP YOU. JUST GO TO www.ghanaresearch.org AND CLICK ON “ENQUIRIES” UNDER “PAGES”. FILL THE COMTACT FORM WHICH IS SHOWN THERE, AND CLICK ON “SUBMIT”. I WILL GET YOUR ENQUIRY THEN. BE ASSURED THAT YOU WILL HAVE AN ANSWER FROM ME WITHIN TWO (2) DAYS – EVEN WEEKENDS AND PUBLIC HOLIDAYS.

THIS ANSWER MIGHT BE A SOLUTION TO YOUR PROBLEM, OR ONE OR MORE QUESTIONS. THE LATTER MIGHT APPEAR NECESSARY IF YOUR QUESTION NEEDS MORE CLARITY OR ADDITIONAL INFORMATION.
THIS ASSISTANCE I OFFER IS COMPLETELY FREE. I KNOW THAT OWNERS OR PERSPECTIVE OWNERS OF SMALL AND MICRO BUSINESSES HARDLY HAVE ANY MONEY LEFT. ONLY IF MY INVOLVEMENT DEMANDS FURTHER NEGOTIATIONS WITH THIRD PARTIES, I WILL CHARGE YOU A SMALL FEE TO COVER MY COSTS. FOR ANY FEES AND OTHER COSTS OF THIRD PARTIES LIKE BANKS, ETC., YOU ARE RESPONSIBLE YOURSELF.

YOU CAN BE SURE THAT ALTHOUGH MY CONSULTANCY IS BASICALLY FREE, I WILL DO MY VERY BEST TO MAKE YOUR BUSINESS SUCCESSFUL. BUT YOU MUST KEEP IN MIND ONE IMPORTANT ISSUE. THE ONLY ONE WHO IS RESPONSIBLE FOR THE SUCCESS OF YOUR BUSINESS IS YOU.
ESTABLISHING A BUSINESS NEEDS DISCIPLINE AND HARD WORK. PEOPLE CAN HELP YOU DOING IT. BUT ONLY YOU ARE THE ONE WHO AT THE VERY END DECIDES SUCCESS OR FAILURE OF YOUR BUSINESS.

SO, I WILL ALWAYS BE THERE FOR YOU IF YOU NEED ME. BUT FINALLY, DO NOT BELIEVE IN ME, BELIEVE IN YOURSELF.
I AM EAGER TO HEAR FROM YOU SOON, AND I WISH YOU GOOD LUCK IN ALL YOUR ENDEAVOURS TO SEEK LONG-LASTING SUCCESS.

BUSINESS CONSULTANCY WITH GHANA RESEARCH

SEE YOU!

ON THE NECESSITY OF FINANCIAL LITERACY

I HAVE WRITTEN A LOT ON THE NECESSITY OF FINANCIAL LITERACY AND THE NECESSITY TO LIMIT THE LOSSES O INVESTMENTS. THIS AFFECTS HUNDREDS, IF NOT THOUSANDS OF PEOPLE IN GHANA.  AND IT’S NOT ONLY GHANA WHERE THESE PROBLEMS OCCUR. FURTHERMORE, IT’S NOT ONLY A PHENOMENON OF DEVELOPING  COUNTRIES, ALTHOUGH IT MIGHT  HAPPEN THERE MORE OFTEN. BUT THAT MIGHT HAVE MORE TO DO WITH THE  DIFFERENCES IN THE OVERALL LITERACY THAN WITH FINANCIAL LITERACY IN PARTICULAR.

WHEN FINANCIAL LITERACY IMPROVES, IT WILL BE MORE DIFFICULT TO LURE SAVERS AND INVESTORS INTO DUBIOUS FINANCIAL PRODUCTS. THIS IS VERY OBVIOUS IN THE SO-CALLED “MENZGOLD SAGA”, BUT NOT LIMITED TO IT. HERE, THE QUESTION WHETHER MENZGOLD WAS REGISTERED AND WHERE PLAYS A MORE OR LESS SECONDARY ROLE. THIS IS A QUESTION FOR THE REGULATOR(S). THE PRIMARY CONCERN FOR INVESTOR SHOULD BE TO DIFFERENTIATE BETWEEN HONEST AND DISHONEST INVESTMENT OFFERS.

I OFTEN REFER TO THE OLD SAYING “IF IT SEEMS TO BE TOO GOOD, IT PROBABLY IS TOO GOOD TO BE TRUE”. IF SOMEBODY OFFERS YOU AN INTEREST RATE OF AROUND 40% PER YEAR, IT IS SURELY NOT SUSTAINABLE. SOONER OR LATER, THIS OFFER WILL COLLAPSE. CONSEQUENTLY, TRY TO AVOID SUCH SEEMINGLY “ATTRACTIVE OPPORTUNITIES”.

YOU SHOULD PREFER TO INVEST ANY SURPLUS AMOUNT IN YOUR LOCAL RURAL OR COMMUNITY BANK. THESE ONES OFFER A REALISTIC INTEREST RATE WHICH IS NORMALLY EVEN OVER THE INFLATION RATE. FURTHERMORE, YOU EVEN CONTRIBUTE TO THE DEVELOPMENT OF YOUR DISTRICT. THIS IS BECAUSE  THE BANKS USE YOUR INVESTED MONEY TO DISTRIBUTE LOANS FOR MICRO AND SMALL BUSINESSES. APART FROM THAT, RURAL AND COMMUNITY BANKS USUALLY USE PART OF THEIR PROFIT TO SUPPORT LOCAL INSTITUTIONS.THEY DO THAT IN PURSUING THEIR CORPORATE SOCIAL RESPONSIBILITY.

RECKLING ENTERPRISES THROUGH GHANA RESEARCH WANTS TO CONTRIBUTE ITS PART TO IMPROVE FINANCIAL LITERACY IN THE COUNTRY.

  • FROM BEGINNING OF NEXT YEAR ON, THERE WILL BE BASIC COURSES IN FINANCE AMD INVESTMENT ON ghanaresearch.org  .(THESE COURSES WILL BE COMPLETELY FREE OF CHARGE.)
  • BY END OF NEXT WEEK, I WILL PUBLISH A QUESTIONNAIRE ON THE WEBSITE AND ON SOCIAL MEDIA. IN THIS QUESTIONNAIRE, IN THIS QUESTIONNAIRE, YOU CAN ANSWER SOME SIMPLE QUESTIONS. ACCORDING TO THESE ANSWERS, I WILL TELL YOU WHICH TYPE OF INVESTOR YOU ARE. FROM THAT YOU WILL BE ABLE TO DERIVE HOW TO INVEST YOUR MONEY BEST.

 

I HOPE YOU WILL PARTICIPATE!