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-Kora nteng 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. 07 June 07
