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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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    Gov’t to commence talks with IMF for bailout

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Money Wisdom Series: Escaping poverty in Africa

June 12, 2020
in FEATURES, Top Stories
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The COVID-19 pandemic has impacted the global economy negatively. Countries have lost foreign direct investments, grants and revenues. This to a large extent has deepened the poverty levels in most developing nations in African, Asia and elsewhere.

Ghana is no exception. Most people in these countries are poor and were already struggling to afford three meals a day even before the pandemic.

I must confess that, race, gender, sexual orientation, disability status and other social identity may affect a person’s starting position in the race towards financial and social stability in any part of the world. Interestingly, poverty is a complex factor, it is more than not just having money, or material things, it is beyond that especially chronic poverty.

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Poverty is very severe in the African and Asian regions where people are not just broke, but are destitute, not just having an overdrawn bank account temporary, but a continuous cycle that worsens over time.

For most people, when you are born poor, you are likely to stay poor and grow poor, but there is a game changer which can make a difference and that is the Choices and Decisions you make along the path of life.

It is very important that even though we didn’t choose our parents, family and country, we need to understand that we have a responsibility to change our situation for the better and reason is simple that everyone has something unique inside of them, and it is your duty to work hard to develop and use it for your benefit and society.

Take Away; You may be poor but don’t let your mind be poor because freedom of the mind is freedom of the physical. Your economic ability is built in your mind.

Escaping from poverty

There is no doubt that economic growth of a country is a necessary catalyst for poverty reduction. The income mobility of the country would determine the extent to which most people in the country can escape poverty.

There is a very significant role the government and private sector needs to play in creating jobs, raising income levels and making goods and services cheaper, affordable and available for the people.

The government should know that there cannot be a wide spread of economic development without dynamic private companies and so the responsibility of poverty reduction first rests with governments and the policies they implement.

Moreover, the business environment is also very critical for private sector and individuals to expand their businesses. Companies that are financially, economically, socially and environmentally sustainable to create jobs need government to set a foundation for their businesses to do well.

There is a positive correlation between the quality of business environment and long-term national economic performance which is solely dependent on the government.

To do list

  • Start seeing yourself in successful people
  • Learn a skill and be good at it
  • Move yourself and your service to a professional level
  • Learn to Market and sell yourself
  • Build yourself as a brand
  • Take back control of your mind
  • Change your mindset towards Money
  • Leverage community resources
  • Ask for advice from someone you trust
  • Don’t be afraid to walk away if it not in your interest
  • Don’t work under people you are more intelligent and smarter than in the office

Africa and its people are poor simply because of a mindset problem. The PULL DOWN syndrome “We all die here.”

Little minds mostly don’t encourage each other to work hard so to get above the poverty line, but often fond of talking down people who are trying. They mostly will rarely support or patronize what you offer. But they will be very ready to be the first to tell you why this is not going to work and you cannot do it.

As I am a living example, people think I cannot do what I am doing and be the best financial advisor. I say to you that if your strategy in life is to end up pleasing everyone, you will end up miserable; trapped in the same mess as them, so you must train yourself and your mind to ignore crap minded people. Let them keep their opinion while you keep your dream alive.

Freedom of the mind is freedom for opportunity and growth. Just keep hope alive and The Sun Will not go down on you.

–

©Jerry.J.Afolabi, unlike others is passionate about financial education, independence and financial freedom. He is approachable, provides one on one client engagement and genuinely interested in helping people to take control of their own finances.

Please kindly use the links below to follow my page on FACEBOOK and YOUTUBE channel for more MoneyTalk and Videos. WhatsApp # +233541238987,email jelilius@gmail.com
https://www.facebook.com/Jerry-JAfolabi-107737420863286/
https://www.youtube.com/channel/UCz4Wrr3FkmnVrL3V1R44Y0w

Source: JERRY J.AFOLABI
Tags: Jerry J. Afolabimoney
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