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Banking is a Parasitic Enterprise in Ghana
['Grace Tsotsoo Quaye']
The Ghana Report
Banks thrive on so-called risk-free paper while entrepreneurs, who could generate jobs and build industries, are starved of capital.
Beyond such ventures, trade associations can go further and establish cooperative banks of their own.
A Hoteliers Cooperative Bank, a Farmers Cooperative Bank, or a Manufacturers Cooperative Bank could ensure that savings within a sector are reinvested in that sector.
Cooperative financing and cooperative banking offer a way forward.
If Ghana is to break the cycle of parasitic banking, then collective entrepreneurship must become a movement.