Finance & Investment Proposal for Zenotopea

FINANCE & INVESTMENT STRATEGY PROPOSAL FOR ZENOTOPEA, A HYPOTHETICAL AFRICAN COUNTRY FROM THE POINT OF VIEW OF AN ASSUMED GOVERNMENT OFFICIAL Africa can develop and must develop. The growth and development of a country give an idea of an increase in that particular country’s socio-economic and political situation. However, much emphasis is placed on the economy when people think of growth and development. I think it is a question of “achieve economic development first & the other things will be added.” A look at the countries in Africa shows that there is an abundance of natural resources and basic human resources. There are problems such as illiteracy, poverty, disease just to mention a few. The situation is not different from the economy of Zenotopea, a hypothetical African country with an emerging economy. This write-up is a proposal that spells out the strategy for identifying and mobilizing the sources of funding for the development of Zenotopea. The strategy is aimed at helping the new government of the country over the next five years. The economic health of a country is usually measured by examining its economic growth and development. Economic growth may be defined as an increase in the production of primary goods and services of a country over a specific period. Economic growth is conventionally measured as the percent rate of increase in real Gross Domestic Product (GDP). On the other hand, economic development may be defined as the process by which emerging economies with low living standards become highly industrialize & advanced economies with high living standards. A country's economic development is usually indicated by an increase in the quality of life of its citizens. . The 'Quality of life' is often measured using the Human Development Index, which is an economic model that considers factors like literacy rates, life expectancy and poverty rates. The priority development projects the government of Zenotopea has identified are in the areas of education, health and power. But this proposal will be based on only power. The financing needs are critical for providing infrastructure for renewable energy with emphasis on solar energy. There will be the need for funding of solar panels, training and development of staff and general education of the citizens on the importance of renewal energy. An estimated amount of $5.6 billion will be needed as funding. An amount of $1.6 billion is estimated to be spent in year 1 and $1 billion each year for the next four years. The country has a challenge of debt sustainability with a current record of 50% Debt to GDP ratio. However, some sources of finance have been identified from international, domestic, public and private areas. There will be a mass education of all citizens for six months across the country using Government Information Services Vans about the importance of solar energy. Technocrats who are experienced in negotiations should be selected fairly to engage financiers from international, local, public and private sources. The country should work with a development partner like the World Bank Group for support. This support could be in the form of structuring a Public Private Partnership (PPP) with some international companies or asked to provide funding and risk mitigation instruments. There should be bidding for the selection of two or three efficient international solar power companies for the project. The sources of finance can be accessed as follows: The government should computerize many systems so as to get proper account of revenue; taxes should be reduced and more people encouraged to pay taxes; the treasury bill rate should be raised to at least 20% to mobilize funds and foreign investors should be encouraged and attracted to come and invest in the country. There may be barriers in accessing the sources of finance that have been identified. There may be issues of inflation, currency fluctuation, risk, transparency, inclusiveness, access and stability. The government of Zenotopea should ensure that there is adequate regulation and policies to mitigate all financial systemic risks. As much as possible the state should collaborate with multilateral Development Banks (MDBs) to address barriers connected with accessing the sources of finance. There should be measures put in place to check leakages of funds through corrupt practices. In conclusion, one can say that the conditions in Zenotopea are similar to most of the African countries. This strategy will be useful and applicable to many countries in Africa. It is my viewpoint that Africa can and must develop.

A proposal for the Improvement in Ghana Government Service Delivery – with emphasis on Digital Technologies.

ASSIGMENT ON A PROPOSED DIGITAL TECHNOLOGY SOLUTION ON WAYS TO IMPROVE GOVERNMENT SERVICE DELIVERY, A 2ND PROJECT WORK SUBMITTED AS PART OF AN ONLINE COURSE – “DIGITAL DIVIDENDS: STRENGTHENING THE ANALOG FOUNDATION OF THE DIGITAL REVOLUTION” ORGANIZED BY THE WORLD BANK & EDX.ORG Topic: A proposal for the Improvement in Ghana Government Service Delivery – with emphasis on Digital Technologies. Modern digital technologies comprise mainly the Internet, mobile phones, the computer and other devices. These technologies facilitate the creation, storage, analysis and sharing of data and information. However, there are other emerging technologies such as 3D Printing, Artificial Intelligence, Robotics, Autonomous Cars and 5G or 5th Generation Mobile Wireless technologies. Generally, when a government invests in digital technologies it can reap returns (digital dividends) such as economic growth, jobs and efficient services. From research, it has been found that digital technologies promote economic development and other digital dividends. They reduce information costs and “lower the cost of economic and social transactions for firms, individuals, and the public sector.” Digital technologies promote innovation when transactions costs fall; they boost efficiency as activities and services become cheaper, quicker, or more convenient; digital technologies also increase inclusion as people get access to services that were previously inaccessible. With such opportunities, it is no wonder many countries such as Ghana are eager to invest in digital technologies. This article has been written as a proposal for improvement in Government Service Delivery. History of Ghana Civil Service The Ghana Civil Service was initially established as the Colonial Service in the Gold Coast. It was the main instrument of British imperial policy. Upon the attainment of independence and republican status in 1957 and 1960 respectively, various Ministries and Government Departments were created and restructured. In 1960 the Civil Service Act, 1960, was enacted and later complemented by the Civil Service (Interim) Regulations, 1960 (L1.47). The Regulations provided for the creation of a Civil Service Commission, its structure and the mode of filling vacancies. In 1993, the Civil Service Law, 1993 (PNDCL 327), was passed. It replaced the Civil Service Act, 1960 (CA.5) and stated that the Civil Service was to form part of the Public Services of Ghana, and that it comprised service in a civil office of Government in both central and local government. This law stated that the Civil Service “is to assist the Government in the formulation and implementation of government policies for the development of the country.” Government Service The Government of Ghana through the Civil Service and Public Service has been and continues to be the single largest single employer in the country. In the Civil Service, in particular, graduates are employed from tertiary institution in the country and posted to sectors of government Ministries. Certain reforms were introduced into the Civil Service over the years by different governments. Examples of such reforms are Local Government Reforms (1988 & 1993) and Civil Service Performance Improvement Programme (1995). The public image of the Civil Service has not been favourable. It is perceived to be slow in delivering services and it uses too much paper in its work and records. Some Civil Servants are also accused of bribery before they offer quick service to their clients. Current Situation Digital technologies have a lot to offer Ghana Civil Service, the Government if they are implemented well. From all indications, the present Government has the political will to reap digital dividends. At a forum held in Accra on 5th December, 2017 at the Ghana-India Kofi Annan Centre of Excellence, the Vice President Dr. Mahamudu Bawumia said “government would leverage on technological innovations as agent of growth, source of income and way of work in the public sector and industry to promote socio-economic development.” The Government has launched the e-registration of businesses project, the paperless port project, the National Identification System, the National Digital Property Addressing System, Drivers’ Licensing and Vehicle Registration. However, there is still a lot to be done especially in the improvement of Government Service. Improving Government Service Delivery Adopting ICT or digital technologies in not enough to reap the digital dividends. They have to be combined with business model changes. One has to think of ICT as an enabler as new kinds of business models, educational systems, healthcare systems, transport systems and manufacturing systems. All these can have an impact on the population and the type of service provided by civil and public servants. The main suggestions that will be useful for improving the delivery of Government Service are as follows. 1. All paper records in the civil services should be ‘digitized’. This means transforming the data on paper records into “digital data.” This will facilitate the identification, search, accessing, retrieval, update, and archiving records electronically. 2. ICT teaching in the schools should be upgraded. There should be public centres like tech hubs for adults to acquire ICT skills. 3. Regulations about poor attitude to work including regularity, punctuality and favouritism should be enforced. 4. Electric power should be available, stable and affordable. 5. Taxes on ICT tools should be reduced to make them affordable. Conclusion On the basis of the above discussion, the Government of Ghana, can improve its services particularly in the civil service and public service when the above suggestions are considered. REFERENCE: 1. Kaoro Kimura – “Big steps toward Ghana’s digital future”, an Article (04 July, 2015 2. http://www.ohcs.gov.gh/history 3. Samia Melhem – World Bank – Video on “Strengthening the analog foundation of the digital revolution: Conclusion

Development Finance Impact Project for Togo

Development Finance Impact Project- Digital Artifact on Togo Development Specialization Proposal on financing Solution for Unlocking Finance Opportunities Introduction This artifact or article is a project which is part of an online course – Financing for Development- which is being run by the World Bank and edx.org. Countries are unequally endowed with resources whether natural or human. Some countries are poor or developing while others are rich or developed. All countries can be said to be neighbors. The success of each neighbor is also the success of others. In the world today, there is no peace without development. Executive Summary The earth is one of the planets inhabited by human beings. The world population of about seven billion are situated in various countries. These countries have geographical boundaries which have resulted from discoveries, wars, politics or some historic reasons. The activities in one country affect the other countries. These countries share resources such as the oceans, atmosphere, air etc. An activity in one country that causes climate change can affect people in another country. This concern has led to interventions like the League of Nations, UNO and programmes like MDGs and SDGs all aimed at making the world a better place. This article is aimed at an audience comprising governments, IDA, Multilateral Development Banks, the private sector and individuals who can help to unlock finance opportunities for development in Togo. Profile of Togo Togo is a Sub-Saharan Franphone country situated along the coast of West Africa. It shares borders with Ghana to the west, Burkina Faso to the north, and Benin to the east. It has an area of about 56,785 square kilometers and an estimated population of 7.3 million. The country was granted independence by France in 1960. Togo is the 5th world producer of phosphate but it remains a poor country which depends largely on foreign aid. The Togolese are generally hardworking people. They are mainly farmers, artisans, fishermen and traders. Before 2005, Togo has had almost 38 years of undemocratic and human rights abuses. But the situation has improved. Development Challenges The country has some development challenges. Togo was unable to achieve six of the eight MDGs. As at the end of 2015, the country had registered progress only in universal primary education and the control of HIV/AIDS. There is the need to increase efforts in terms of achieving the seventeen Sustainable SDGs in Togo. In particular, the business climate remains challenging and efforts need to be made to scale up all 10 Doing Business indicators. According to a World Bank Report on the Internet, “the key development challenges for Togo as stated in the country’s poverty reduction strategy include: (i) developing sectors with strong growth potential; (ii) strengthening economic infrastructure; (iii) developing human capital, social safety nets, and employment; (iv) strengthening governance; and (v) promoting a more balanced, participatory, and sustainable development.” (http://www.worldbank.org/en/country/togo/overview) Clearly, there are challenges in Togo. It is for this reason that this artifact is making a proposal for development partners to come on board to offer solutions to the challenges in Togo. Why development partners should be part of solutions Domestic public resources from taxation and grants, assistance from ODA and OECD, IDA as well as large amounts of investable resources, mostly private, can be mobilized and allocated to support the achievement of the SDGs in Togo. The private sector window of the International Development Association (IDA) which provides fund for poor countries will be useful. Private business has eyes on profit but it can deliver profit and development impact simultaneously. An improvement in the infrastructure can bring about economic growth which can lead to a multiplier effect in the economy. This can improve the environment for doing business. The private sector is also concerned with risks. Measures such as reliable, legal and cross-party contracts, co-financing and blended financing of infrastructure projects can help. Current main obstacles likely to obstruct unlocking financing opportunities The main obstacles include: 1. Lack of capacity to collect tax efficiently. 2. Corruption which facilitates tax evasion. 3. A narrow tax structure. 4. Lack of provision to disclose illicit financial cash flows. How proposed solutions can overcome these obstacles The following measures can be taken: 1. The government of Togo should provide an enabling environment for private businesses, particularly good infrastructure. 2. The economy should be managed well so that inflation and interest rates are low. 3. The government should strengthen transparency and accountability in public expenditures. 4. Provision should be made in Togo for fairly cheap credit, venture capital etc. 5. There should be a system of monitoring and evaluation of development projects. 6. A strong agency should be set up to coordinate the government’s role in the project. 7. Some citizens should be given technical expertise about data collection and processing using technology and innovation. Conclusion Togo is faced with many development challenges. This artifact proposes that an impact project be carried out to unlock financing opportunities for overcoming the challenges so as to achieve the SDG goals. Author: Emmanuel Ahugah

Citizen Engament: A game changer for Africa

Our earth has human beings, animals, birds, insects, plants and other creatures. Out of these creatures, the human beings are rational and can control the others. Our various countries have both human and natural resources. In each country, attempts are made to improve the welfare or quality of life of the citizens. This idea is generally referred to as development. Many people think of economic development whenever the term ‘development’ is mentioned. Economic development has been defined as “improvement of the way endowments and goods and services are used within (or by) the system to generate new goods and services in order to provide additional consumption and/or investment possibilities to the members of the system.” -Lorenzo G. Bellù, an Economist. However, economic growth refers to a quantitative change or expansion in a country’s economy usually over a period of one year, measured in terms of Gross Domestic Product (GDP) or Gross National Product (GNP). In fact, development means more than economic development and economic growth. “Development is a multi-dimensional process involving changes in social structures, popular attitudes, and national institutions, as well as the acceleration of economic growth, the reduction of inequality, and the eradication of poverty” – (Toledo and Smith). Modern understanding lays emphasis on human development. Some countries are far ahead of others in development. This gives rise to countries being classified into developed and developing countries. In each country, there is this suspicious gap concerning governance between the government (politicians) and the governed (citizens). Governments (central and local) are expected to make policies which will be in the interest of the citizens and improve their welfare. But this does not usually happen as the citizens suspect the politicians of seeking their own interests. There is a new concept ‘Citizen Engagement, (CE) which proposes that it can be a game changer for development. This means that the representatives in government should be democratically elected and their decisions should reflect the views of the majority of the people they should be held accountable for all that they do. In the developed countries, their institutions work quite efficiently so CE works better than in the developing countries in Africa, parts of Asia and South America. In the developing countries in Africa and Asia and South America, mechanisms of engagement may find expression in the form of voting, community monitoring, social audits and participatory budgeting involving a dialogue between the government and citizens. This article is expected to show how CE can be used to bring about development to African countries in the building physical infrastructure. A look at many African countries shows that political parties ‘fight’ for power through the ballot box and make promises to the citizens through their manifestoes. Some of the parties rise to power through elections that may not be true and fair. The focus of this article is that governments can engage citizens for ideas and monitoring to bring about infrastructural development in the form of schools, hospitals, police stations, roads, bridges et cetera at reasonable costs. The fact is that citizens (literate or illiterate) in both the rural and urban centers know their needs whether water, health centers or schools. There is no need to impose certain projects on them just because those projects are in a party’s manifesto. The citizens who are the beneficiaries and stake-holders should be the key players. They should be involved in the bill of quantities and monitoring so that there will be value for money and costs are not inflated for political patronage. Committees can be formed for the jobs. These committees should cut across political, social and cultural groups. The engagement on a mixture of large and small scale i.e. thin and thick engagement. There may challenges about politicians trying to hide things from the opposition. But these can be overcome if the practice is to keep this open and honest. This can provide opportunities for all especially jobs. This project could be assessed by conducting surveys in the form of Questionnaire and voice interviews of a representative sample to be played over FM radio stations and other forms of ICT like mobile phones, internet and social media.

PriceBenders

CLIMATE CHANGE: CAN WE SAVE THE WORLD FROM DISATERS ASSOCIATED WITH GLOBAL WARMING AT 2 DEGREES CELCIUS AND BEYOND?

Our earth happens to be only one of the planets in the planetary system. Whether you a Christian, Moslem, atheist or of any other religious conviction, we cannot argue about the origin of the earth. We are all inhabitants of this earth. Any action of anyone at any part of the globe invariably affects another person at another location. This article is about how climate change, especially in terms of temperature, is seriously affecting the earth and the necessity for action.

Climate may be defined as the average weather conditions of a geographical area (usually a country) with regard to factors such as temperature, sunshine, air pressure, humidity, rainfall, winds and cloudiness. Wikipedia defines climate change as ‘a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years.” Thus climate change has much to do with changes in weather conditions as a result of natural factors such as solar radiation, volcanic eruptions, biotic processes as well as human action such as global warming. If you have experienced significant changes in conditions such as rainfall pattern, heat waves, time of some seasons such as winter, summer, spring and autumn compared to what you experienced several years ago, it has to do with climate change.

Some scientists have made some findings about climate change. The main thrust of the findings has to do with rising temperatures. The Intergovernmental Panel on Climate Change (IPCC) has released reports since 2008 culminating in the September 2013 Stockholm Report which revealed that bad human influence on global climate is very clear. The Working Group 1 of the IPCC pointed out that ‘Global surface temperature change for the end of the 21^st century is projected to be likely to exceed 1.5 degrees Celsius.” Just like the United Nations, our scientists are concerned with global temperatures remaining below 2 degrees Celsius. The scientists warm of some consequences of high temperatures reaching 2 degrees Celsius and beyond. Some of these are: Sea-level rise, extreme temperatures, increasing ocean acidification, risks to food production and agriculture, risks to global water resources, risks to ecosystems and biodiversity, risks to coral reefs and risks to human health. The question is “Are these scientists being unnecessarily alarmists?” Are their fears genuine? From an optimist/s point of view, one would say that the scientists have a case. Their studies have been based on objective measurements and satellite pictures. Recent disasters such as the heat waves in Australia in 2009, Tsunami which hit Japan in 2011 and the typhoon Haiyan which hit the Philippine in November 2013 and cyclones in other geographical regions indicate that the global climate is really changing. There is the need for action.

Interviews conducted in Ghana, an African country within the Tropics, indicate that there were higher temperatures and drier conditions as compared to the last 10 years. The rainfall patterns have changed slightly with the major rainy season starting earlier or later. This creates problems for farming which is mainly rain-fed. These were affecting food production and animal rearing. These conditions are affecting the quality of life of the people especially the poor in the country as the prices of food crops increase.

What are the main fears of our scientists concerning global warming and what are the main causes and suggested solutions?

Their projections indicate that global warming beyond 2 degrees Celsius will spell doom for the planet earth. The worst conditions will be in 2100 when the temperatures hit 4 degrees Celsius. They advise that there is a dire need to turn down the heat. The main causes of global warming from the scientists findings include :

1. As a result of human activity such as burning of fossil fuels and other forms of carbon dioxide emissions, greenhouse gas is formed. This gas in the form of mainly carbon dioxide and methane prevents infrared light (sunshine transformed) from escaping into the atmosphere.

2. Most of the energy goes to heat the oceans. This increases the level of the sea.

3. Part of the heat goes to melt ice and snow and consequently increases the sea-level.

4. The greenhouse effect also leads to extreme heat as being experienced in parts of Africa and Europe.

As pointed out already, global warming can bring in its wake bizarre consequences such as floods, risks to human health, water resources and food production among other things.

The scientists make certain suggestions which can be useful to combat this cancer of global warming.

1. As populations increase, there will be greater demand for energy use so more energy should be provided.

2. The energy choices should be such that we avoid releasing much carbon dioxide.

3. As economies grow they need more energy so more renewable energy sources should be provided.

4. There should be technological innovation to reduce emission of carbon dioxide.

This article has tried to create some awareness about global warming. There is the need to act locally, nationally, sub-nationally and globally. The problem affects us all. Let us save the world from the disasters associated with global warming. The time to act is now.

 Emmanuel Ahugah

Browsing at Prism Internet Cafe at adenta, Accra

Here you are with a video taken just today. It shows some customers at Prism Internet Cafe at Adenta, a suburb of the city of Accra in Ghana.
Enjoy it.