The Men’s Ministry at the Trinity Temple of ICGC – otherwise known as Mighty Men of Valour (MMV) at Ohwimase-Kwadaso in the Ashanti Region – has held a breakfast meeting with a call on business owners dealing with the financial institutions to uphold integrity in their business relationship with the banks.
In a focused group discussion that was held both virtually and in-person at the Church’s auditorium, Mr. Michael Dwaah Owusu Boakye – a banker, businessman and one of the panellists – mentioned that a lot businessmen are not realising growth in their businesses because they have not given much thought to integrity and truthfulness – what he literally termed ‘integrity currency’.
He told members of the ministry that if Christians consider that concept of ‘integrity currency’ and become truthful, open and trustworthy in dealing with banking institutions, which will earn them honour and integrity, he believes this will appreciate over time and they will have a much stronger relationship with the banks.
He has therefore made a clarion call specifically to members of the Men’s Ministry to change and renew their minds and find ways that can earn them honour in the eyes of their financiers and customers to always put them ahead of others.
On client-bank relationship, Mr. Dwaah Boakye – who is the Sunyani branch manager of Ecobank – stated that openness is a critical factor, adding that one of the pillars of lending is the character of the borrower… and that cannot be ruled out.
“That is the foundation of everything”, he said. “Let me mention that the bank is not a building; the bank is the people who work in it; and somebody should trust you to say that ‘this guy has a good character – integrity, and if they give the money to him, he will pay’. And if you fulfil that trust by repaying your loan, then the door is open because we have a lot of money to lend.”
Mr. Elvis Osei Sarfo, a transporter and a cement distributor, acknowledged that the Ghanaian economy has been rough since the outbreak of COVID-19, but business operators who have good rapport with their banks are assisted by them.
According to him, if one owes a bank or takes money from a bank, the person should be committed to pay to gain integrity, so that anytime they need any kind of financial assistance, they will be ready to help.
This assistance, Mr. Osei Sarfo noted, will enable them to operate on a large scale – citing Ecobank and Absa Bank as examples of banks who assisted him to buy more than he needed in his business.
According to the businessman, how a business operator navigates his ways with his bank(s) is a trump-card with which a bank can trust a business operator, adding that: “Without any good standing with them, they cannot help you; but if you have dealt with them well, they can be of help to you”.
Asked about how smart he has been in business to mitigate the economic turbulence, he responded: “Being smart is being open to the banks, because they are your major source of financial support now. If you are open to them, you will let them know the entirety of your business. They also fall on the central bank to help you; so when you owe them, you pay on time”.
Taking his turn on the discussion, which was moderated by Mr. Seth Krampah, the Secretary of MMV, on the topic ‘Overcoming the Economic Storm and Securing your Financial Increase’, Minister Raphael Owusu Antwi – a Minister at the Trinity Temple who is also a pharmacist, stated that integrity is the only means through which banks can honour cheques of business operators.
He charged business owners to be mindful in good record-keeping of documents such as receipts invoices and others. According to him, it is very important to safely keep documents – adding that keeping documents such as receipts and the like looks trivial, but they are so important in running a business.
The minister added: “Filing receipts is important when one comes into contact with the Ghana Revenue Authority (GRA)”. While Mr. Owusu Antwi urged the men to live within their means, he also advised them to listen to the advice of their wives – saying it will help them to be truthful with their bankers and other stakeholders in the business.
Richmond Kwame Frimpong, an investment advisory consultant, was the main speaker and joined the meeting via video conference to give a comprehensive presentation on the chosen topic.
He was very blunt and let participants at the conference know that the current economic hardships being experienced globally will not get any better, and the best decision to take as men is to be informed and dig deeper to find the opportunities in such challenging times.
He mentioned that taking advantage of the numerous investment vehicles available and having multiple streams of income will be the surest way to overcome the current economic hardship the entire world is being confronted with.
Michael Owusu Dwaah Boakye, Ecobank, Sunyani Branch Manager (right) stressing a point during the discussion; with him are Raphael Owusu Antwi, a pharmacist, businessman and also a minister at ICGC Trinity Temple (middle); and Elvis Osei Sarfo, CEO of July 08 Limited (left)
FIN
Business owners urged to uphold integrity
The Men’s Ministry at the Trinity Temple of ICGC – otherwise known as Mighty Men of Valour (MMV) at Ohwimase-Kwadaso in the Ashanti Region – has held a breakfast meeting with a call on business owners dealing with the financial institutions to uphold integrity in their business relationship with the banks.
In a focused group discussion that was held both virtually and in-person at the Church’s auditorium, Mr. Michael Dwaah Owusu Boakye – a banker, businessman and one of the panellists – mentioned that a lot businessmen are not realising growth in their businesses because they have not given much thought to integrity and truthfulness – what he literally termed ‘integrity currency’.
He told members of the ministry that if Christians consider that concept of ‘integrity currency’ and become truthful, open and trustworthy in dealing with banking institutions, which will earn them honour and integrity, he believes this will appreciate over time and they will have a much stronger relationship with the banks.
He has therefore made a clarion call specifically to members of the Men’s Ministry to change and renew their minds and find ways that can earn them honour in the eyes of their financiers and customers to always put them ahead of others.
On client-bank relationship, Mr. Dwaah Boakye – who is the Sunyani branch manager of Ecobank – stated that openness is a critical factor, adding that one of the pillars of lending is the character of the borrower… and that cannot be ruled out.
“That is the foundation of everything”, he said. “Let me mention that the bank is not a building; the bank is the people who work in it; and somebody should trust you to say that ‘this guy has a good character – integrity, and if they give the money to him, he will pay’. And if you fulfil that trust by repaying your loan, then the door is open because we have a lot of money to lend.”
Mr. Elvis Osei Sarfo, a transporter and a cement distributor, acknowledged that the Ghanaian economy has been rough since the outbreak of COVID-19, but business operators who have good rapport with their banks are assisted by them.
According to him, if one owes a bank or takes money from a bank, the person should be committed to pay to gain integrity, so that anytime they need any kind of financial assistance, they will be ready to help.
This assistance, Mr. Osei Sarfo noted, will enable them to operate on a large scale – citing Ecobank and Absa Bank as examples of banks who assisted him to buy more than he needed in his business.
According to the businessman, how a business operator navigates his ways with his bank(s) is a trump-card with which a bank can trust a business operator, adding that: “Without any good standing with them, they cannot help you; but if you have dealt with them well, they can be of help to you”.
Asked about how smart he has been in business to mitigate the economic turbulence, he responded: “Being smart is being open to the banks, because they are your major source of financial support now. If you are open to them, you will let them know the entirety of your business. They also fall on the central bank to help you; so when you owe them, you pay on time”.
Taking his turn on the discussion, which was moderated by Mr. Seth Krampah, the Secretary of MMV, on the topic ‘Overcoming the Economic Storm and Securing your Financial Increase’, Minister Raphael Owusu Antwi – a Minister at the Trinity Temple who is also a pharmacist, stated that integrity is the only means through which banks can honour cheques of business operators.
He charged business owners to be mindful in good record-keeping of documents such as receipts invoices and others. According to him, it is very important to safely keep documents – adding that keeping documents such as receipts and the like looks trivial, but they are so important in running a business.
The minister added: “Filing receipts is important when one comes into contact with the Ghana Revenue Authority (GRA)”. While Mr. Owusu Antwi urged the men to live within their means, he also advised them to listen to the advice of their wives – saying it will help them to be truthful with their bankers and other stakeholders in the business.
Richmond Kwame Frimpong, an investment advisory consultant, was the main speaker and joined the meeting via video conference to give a comprehensive presentation on the chosen topic.
He was very blunt and let participants at the conference know that the current economic hardships being experienced globally will not get any better, and the best decision to take as men is to be informed and dig deeper to find the opportunities in such challenging times.
He mentioned that taking advantage of the numerous investment vehicles available and having multiple streams of income will be the surest way to overcome the current economic hardship the entire world is being confronted with.
