Accra, June 7, GNA – The Head of Treasury Operations and Controls at
Fidelity Bank, the Reverend Edward Randolph-koranteng, on Wednesday
disclosed that ninety per cent of the world's resources were
controlled by only ten percent of the world's population.
"Ninety per cent of the total population of the whole world
controls just ten per cent of the world's resource, the statistics
transcend geographical location," Rev. Randolph-Koranteng stated at a
day's workshop in Accra
The workshop organized by the Men of Vision and Evangelism
ministry of Harvest Chapel International, to a large extent was to
improve upon Christians' understanding of investment opportunities.
It was also to equip Christians, especially members of Harvest
Chapel International with requisite financial understanding to take
advantage of opportunities that are emerging from a rapidly changing
world economy.
The Banker explained that, interestingly, the ten percent of the
world's population who form the economic power bloc were basically not
people born in the aristocratic homes.
They were ordinary people who took advantage of the world system
to venture into the thick, through prudent economic management
portfolio development.
Rev. Randolph-Koranteng noted: "any income that comes to them
they invest it in re-acquiring assets, plough back the profit into the
business to generate additional income.
"You don't borrow to consume, you borrow to invest, that is the
difference between good and bad debt…depending on the usage of a loan
a debt may create a permanent or temporary financial disorder, but the
prudent makes wise decision," he said.
Rev Randolph-Koranteng, who is also an associate pastor at
Harvest Chapel International urged Christians to face the challenges
of economic growth opportunities, constraints, and strategic
directions and utilize legitimate means of making money.
He said, "prayer works, but we must face the economic realities
of life as we pray, practical problems requires practical solutions
whilst spiritual challenges requires spiritual antidote.
"We must study the global growth systems replicate the models that
have lifted millions of people out of poverty in other regions of the
developing world."
Rev. Randolph-Koranteng said most Ghanaians lack financial
education which is against conventional thinking, adding, "we have
confined ourselves to old adage…if you don't have money don't spend,
cut your coat according to your size…most Ghanaians fear to go into
debt."
"If you don't have enough money don't spend, in today's world
we have bad and good debt…you need to identify what good debts were,"
stressing that, the most pathetic person in the world is the one who
have sight but without a vision, you may have been born in a poor home
but you have to chose where you want to end in life."
Rev. Emmanuel Titi-Lartey, a manager at Merchant Bank Ghana
limited, noted that God, right at the beginning of creation provided
whatever mankind needed to be resourceful.
The problems was that, "it took man a long time to discover most
of these natural assets…there are still more that we have not
discovered, this gives us cause to continue to explore, we should not
just be comfortable with what is available within our reach."
Rev. Titi-Lartey, who is also a Senior Associate Pastor of
Harvest Chapel International noted that the world's resources were
enough to make everybody leave a comfortable life, but unfortunately
mismanagement, greed and misplaced priorities had robbed the people.
He therefore, urged Christians to roll their sleeves and come out
with godly innovative ideas.
Rev. Titi-Lartey urged the Church to pay greater attention to the
dimension of poverty reduction to complement the impact of
accelerating spiritual growth, particularly by enhancing the
income-earning opportunities for the poor.
Mr. Frank Adu Asante, Research and Development Manager, Cocoa
Processing Company (CPC) chaired the workshop, which also exposed
participants to the dynamics of management, formation of credit
unions, investment portfolios and the insurance market.
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