Business News of 2014-07-30

Global leaders hail Daasebre’s New Economic Model

The quest by the Omanhene of New Juaben Traditional Area, Daasebre Prof. (Emeritus) Oti Boateng, to lead a dynamic development initiative by introducing a new theoretical and practical model to determine the basis for a new Global Economic Development Model has received a landmark boost from fellow UN Commissioners. This follows the formal presentation of the new model concept paper dubbed: the Root-Based Economic Development (r-BED) Model to Mr. Kingston P. Rhodes, Chairman of the United Nations International Civil Service Commission (ICSC) in Rome, Italy, where the Commission is currently holding its 79th Session. The presentation of the Root-Based Economic Development (r-BED) Model to eminent colleague members of the ICSC and participants of the 79th Session of ICSC, representing organizations across the United Nations Common System was to garner support for the new Economic Development model. The current initiative was originally presented at the World Forum of Academics in Cambridge University, England, in August, 2010 and the same year presented to the UN Secretary-General to influence a new global development order known then as the Root-Based Model. The initial presentation received the recognition of high-profile institutions across the world as a bold attempt to register an African creative intellectual footprint in global development. The current r-BED Model concept which embodies multiple models and a planning framework for implementation is expected to attract major global attention upon its promotion. The r-BED Model is to be piloted as Ghana’s home-grown economic development model to incubate community-led, entrepreneurial lessons for Africa and the rest of the developing world. According to Daasebre, there is a global consensus for change in the direction of development from the expert led economic growth paradigm in favour of a mass-oriented grassroots economic development regime, particularly in the African region. He indicated that the Root-Based Economic Development (r-BED) Model is an African intellectual response to a critical global development need. In receiving the r-BED concept paper from Daasebre, Mr. Kingston P. Rhodes, Chairman of the Commission, said he has been personally impressed with Daasebre’s industry and enthusiasm to make a global impression from the African perspective and called for the Commissioners to promote this new model as the new theme model to introduce change in the existing growth-development order. He pledged the Commissioners’ support for the initiative and prayed that major stakeholders in Ghana would equally embrace this new found model to make a statement for the rest of the world. The President of the International Fund for Agricultural Development (IFAD), Mr. Kanayo F. Nwanze, also welcomed the new initiative at a reception hosted by IFAD at its headquarters in Rome. He added that in many respects the r-BED Model would support the work of IFAD which invests in people and in the transformation of rural space. Dr. Evelyn Anita Stokes-Hayford, Ghana’s ambassador to Italy and permanent representative to FAO, WFP and IFAD, has also embraced the r-BED Model as having great potential for Africa and the developing world during a welcome reception hosted by the U.S. Mission in Rome. The Root-Based Economic Development (r-BED) Model is a joint intellectual endeavour between Daasebre Prof. (Emeritus) Oti Boateng and Nyaaba-Aweeba Azongo, a development expert. The Model is currently being promoted under a new institutional establishment dubbed: OTI BOATENG-AZONGO DEVELOPMENT INSTITUTE (OB-ADI). The Root-Based Economic Development (r-BED) Model is a systemic integrated communal development model utilizing time-tested indigenous institutions of governance and internalized community support systems to build self-secured local economies.
Source: Seth Krampah
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