Worship with us @ Mountain of Fire Miracles Ministries, Budapest, Hungary Address: 1081 Bp II János Pál Pápa tér 2 (formerly Köztársaság tér) Direction: From Blaha, take tram 28, 28A, 37, 37A, 62...1 stop. From the traffic light cross to the other side... Or take Metro 4 & get off @ János Pál Pápa tér
Time of worship: Wednesdays @ 18:30 hr Sundays @ 10:30 hr
Tel: +36 203819155 or +36 202016005

God bless

Thursday, 13 March 2014


Ghana: Govt proposes another development bank as NIB fails to fly

The government has proposed the setting up of another development bank after over 50 years of the establishment of the National Investment Bank Limited (NIB).

Established in March 22, 1963, NIB was the first development bank in Ghana to promote and strengthen rapid industrialization in all sectors of the Ghanaian economy.
But the Minister of Finance, Seth Terkper who made the proposal maintained that the bank is not living up to expectation.
At the Graphic-Fidelity Economic Dialogue meeting with former Finance Ministers held in Accra yesterday, he suggested that to help address some the challenges regarding capital for local investors, the government and private sector should be thinking about the setting up of a development bank.
Mr. Terkper explained that "a bank that is big enough to go into areas like long term financing of mortgages and others; we do not have that yet, even if we have it, it is not big enough."
"We should be an economy which grows its financial sector, its real sector and create jobs so that the graduates we are producing in this country will find jobs," he added.
Mr. Terkper used the forum which was attended by the captains of industry, policy-makers, civil society organizations among others, to urge the private sector to tone down their over exaggerated expectations of government stabilizing the economy.
He said: "The private sector complains when government taxes it, meanwhile, the Ghana Revenue Authority generates 'barely 13 billion' cedis to pay the public servants, run the government and also invest in infrastructure.
Sometimes the expectation from even the private sector about what government is capable of doing is very much exaggerated... "
Mr. Terkper noted that given the nation's output, government is unable to provide the capital needs of private sector and social interventions in education and health.
The minister said: "Given our output and given our desire to maintain a liberal tax regime that has benefitted us then it means that the private sector has to do more"
A former Minister of State at the Finance Ministry, Dr. Anthony Akoto Osei who shared the podium with Mr. Terkper lauded the government for the removal of subsidies, especially on petroleum products.
"We commend them for beginning the painful process of removal of subsidies; we should depoliticize that, because it is costly politically," he said.
Some of these policies and decisions, he noted would go a long way to help the economy improve and develop.
Dr. Akoto Osei who is the Member of Parliament (MP) for Old Tafo said; "we cannot as a country continue to buy at higher rates and cut down on our prices".
He also added at that the dialogue that for Ghana to experience growth, the public cannot continue to borrow at the rate which it does in the short term. He said that Ghana's growth rate is challenged and must be saved.
Dr Akoto Osei allured that Finance Minister and Ministry must show commitment and discipline in the budget allocation, "... Ministers putting items on the budget that are not in the budget, this is serious indiscipline in every government from Nkrumah down to now,"


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Editor's Mail

Love the article on Gaddafi
We must rise above tribalism & divide & rule of the colonialist who stole & looted our treasure & planted their puppets to lord it over us..they alone can decide on whosoever is performing & the one that is corrupt..but the most corrupt nations are the western countries that plunder the resources of other nations & make them poorer & aid the rulers to steal & keep such ill gotten wealth in their country..yemen,syria etc have killed more than gadhafi but its not A̷̷̴ good investment for the west(this is laughable)because oil is not in these countries..when obasanjo annihilated the odi people in rivers state, they looked away because its in their favour & day! Samosa Iyoha

Hello from
I was amazed to find a website for Africans in Hungary.
Looks like you have quite a community there. Here in SA we have some three million Zimbabweans living in exile and not much sign of going home ... but in Hungary??? Hope to meet you on one of my trips to Europe; was in Steirmark Austria near the Hungarian border earlier this month. Every good wish for 2011. Geoff in Jo'burg

I'm impressed by
ANH work but...
Interesting interview...
I think from what have been said, the Nigerian embassy here seem to be more concern about its nationals than we are for ourselves. Our complete disregard for the laws of Hungary isn't going to help Nigeria's image or going to promote what the Embassy is trying to showcase. So if the journalists could zoom-in more focus on Nigerians living, working and studying here in Hungary than scrutinizing the embassy and its every move, i think it would be of tremendous help to the embassy serving its nationals better and create more awareness about where we live . Taking the issues of illicit drugs and forged documents as typical examples.. there are so many cases of Nigerians been involved. But i am yet to read of it in So i think if only you and your journalists could write more about it and follow up on the stories i think it will make our nationals more aware of what to expect. I wouldn't say i am not impressed with your work but you need to be more of a two way street rather than a one way street . Keep up the good work... Sylvia

My comment to the interview with his excellency Mr. Adedotun Adenrele Adepoju CDA a.i--

He is an intelligent man. He spoke well on the issues! Thanks to Mr Hakeem Babalola for the interview it contains some expedient information.. B.Ayo Adams click to read editor's mail
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