Govt urged to ensure payment of depositors’ money

The Global Evangelical Church (GEC) has called on the government to put measures in place to ensure payment to depositors whose investments are locked up following the recent banking crisis in the country.

That, according to the church, would avert further diminishing of confidence that the citizens have in the banking and  financial services sector.

At the opening of the 2019 Mini-Synod of the GEC in Accra last Friday, the Moderator of the church, Rt Rev. Dr Setorwu Kwadzo Ofori, said the current upheavals in the financial services sector were likely to retard progress of the country as the inability of depositors to access their locked-up funds with collapsed banks and microfinance companies could demotivate people from patronising banking services in the country.

“The Global Evangelical Church considers the collapse of seven banks and the revocation of licences of 347 microfinance companies across the country, as well as the unending Menzgold saga as a betrayal of the trust and confidence Ghanaians have in the banking and financial services sector,” he stated.

Rt Rev. Dr Ofori also expressed worry about the spate of mobile money fraud in the country and entreated the government to  ensure that telecom operators secured the financial transactions of their clients.

Synod

The event, which brought together delegates from over 800 congregations of the church across the country and abroad to deliberate on important matters of the church, was on the theme: “Effective Discipleship — the Cross of Our Commitment.”

Rt Rev. Dr Ofori said the church had rolled out a 10-year strategic plan from 2019 to 2028 to guide operations of the church.   

He also expressed concern about the inability of stakeholders to effectively implement “known strategies” to address  plastic menace in the country, claiming that the annual recurrence of devastating floods was as a result  of choked drains dominated by plastic waste.

He pledged the church’s support in organising a nationwide public awareness and education campaign on the proper disposal of waste.  

Intervention programmes

Rt Rev. Dr Ofori said the church was diversifying its funding of social intervention programmes.

According to him, the Global Impact Foundation (GIF), a foundation set up by the church, had secured $182,193 from a Sanitation Fund to extend loans to communities at Kadjebi and other areas in the Oti Region to address sanitation challenges.

The Sanitation Fund is a national vehicle established to address the challenges of sanitation in urban communities to help eradicate open defecation.

He said the three-year Government of Ghana/UNICEF project was being implemented by the GIF, in collaboration with the  Kadjebi District Assembly, and was estimated to benefit 125 households.

The initiative provides households in urban communities the opportunity to build their own toilets.

Appeal

The Moderator said a GESUFund, a scholarship scheme operated by the church, also extended educational support to 31 brilliant, needy students to pursue tertiary education in the 2018/2019 academic year.

The fund, according to Rt Rev. Dr Ofori, required a seed capital of GH¢250,000 as investment to sustain support for more  needy students since the fund presently was unable to respond adequately to the increasing number of applications.

He, therefore, appealed to members of the church and private institutions to donate to the fund.

The Synod Clerk of the GEC, Rev. Raphael Mac Attih, also stressed the need for churches to train evangelists to impact possively on members.