The Flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia says his administration would establish
‘Women's Trade Empowerment Fund’ and an ‘SME bank’ to ensure easy access to funding for traders.
He noted that funding was a major challenge facing traders and small and medium-sized enterprises (SMEs) in the
country, therefore, his government was committed to providing conducive environment and funding solution for
traders and SMEs to thrive.
Vice President Bawumia announced this at the Kaneshie Market in Accra on Wednesday during a campaign tour of
the Okaikwei South constituency of the Greater Accra Region.
The Daily Searchlight is of the very firm opinion that Ghana does not need, and can do without, the creation of
another ‘fund’.
We believe that the government of Ghana has enough such initiatives in the system, which are too numerous to
recount here.
The fact of the matter, however, is that each and every one of these funds created by governments over time has
been just channels for the funds of the State to be looted by those who are politically connected.
It is also an admission by politicians that they lack the magic to do what needs to be done, which is to ensure that
the traditional banks, which are supposed to be doing the lending, do what they are supposed to do.
Ghanaian banks are traditionally very cagey about lending to investors. They would rather come onboard when
they are certain that the investment is raking in money, at which time they can be found knocking down doors to
be part of the game.
What the likes of Dr. Bawumia should be doing, is ensuring that banks play the role they are supposed to play. This,
of course, is hard work, with uncertain rewards, particularly for the politician. It is clear that in the opinion of the
politicians, it would be safer to set up ‘funds’ using state cash, which ‘funds’ they can then look aside as they are
looted.
Dr. Bawumia should come again. He can do better!
