Posted in: Foreign Nations
The recent elections in Ghana have been hailed as a successful African story. The praises, admirations and messages of commendations coming from all corners of the globe is an indication that the world is hoping for a change in Africa. It is also an indication that the world is expecting something different, different from the way things are done all the time on the continent.
Having experienced political instabilities for most of her modern existence Africa has often been described as a failed continent – a continent where everything is depressing. So it came as a surprise when Ghana managed to conduct one of the best successful elections on the continent. The successful elections in Ghana have indeed opened a different chapter for the continent. It has shown the rest of countries on the continent that there is the need for democracy to be given a chance in Africa. The elections have sent a powerful message to the continent that democracy
NKUME DEVELOPMENT UNION – DEC 31 2009 DANCE PARTY, OAKLAND CA.wmv
as a form of government should be widely adopted and practiced by all the countries so that there will always be peaceful means of electing leaders and transferring power from one administration to the other.
I strongly believe that Ghana’s elections are sending the following message to the African Union and its members.
That the constitutions of the various African states should stipulate the number of years and number of terms one could occupy the office of president or prime minister. To alleviate the continent from political diarrhoea, poverty and economic melancholy the governments must as a matter of urgency embark on democratic reforms. The years where leaders rule till they die or are chased out of office should be a thing of the past. The leaders should allow free and fair elections to be held every 4 or 5 years depending on what the constitution says. Elected leaders must have fixed term of office and on no account should they try to manipulate the system in order to remain in power. The elections in Ghana which attracted a lot of international commendations around the world are indicating to the rest of Africa that the people want something different. Our image as a continent can improve considerably if we allow democracy to flourish, if we allow rule of law to work, if we embark on a new path-a path where it is possible for the incumbent to lose elections and hell does not break loose, a path where judges are free to dispense justice without fear or favour, a path where members of the opposition are not seen as enemy combatants but as contributors of our democracy and development, and a path where policies and ideas dominate political discussions and elections instead of the whipping of tribal and ethnic sentiments.
The leaders on the continent must realize that the existence of a vibrant democracy is in the best interest of the people and the continent as a whole. The politicians must know that vibrant democracy is a necessary condition if Africa is to come out of her current political and economic misery.
More often than not, lack or absence of democracy, corruption and abuse of power has often been cited by coup plotters as reasons for overthrowing governments in power. To prevent such incursions by the army political accountability on the continent must be nurtured strengthened. That means the three organs of government namely the executive, legislature and the judiciary must first be independent of each other and secondly they should powers that checks and balances each other so as to prevent one arm from amassing too much power. History has shown that a situation where one arm of government amasses power only breeds envy and instabilities. The Judiciary should be given enough powers to investigate allegations of corruption so as to prevent the repetition of corrupt practices that fuelled the wars on the continent.
Additionally, the fourth arm of government that is the media should be enshrined in the constitution and the AU Charter. The mushrooming of public and private media on the continent especially electronic media should be seen as an encouraging development and governments should be encouraged to allow such private stations to be established unconditionally. The freedom of the press must be safeguarded so as to prevent unscrupulous politicians from attacking them and subjecting them to all sorts of negative tactics. The media should be allowed to play its role as the watchdog of the state and every law that will intimidate them and undermine their ability to work should be repealed.
The various institutions of government such as police, military and the ministries should work to promote democracy and development. Rule of Law should be employed by the state. Everyone should be equal before the law. Instances where there are two separate laws for the rulers and the ruled is not only affront to rule of law but affront to democracy and justice. The office of the Ombudsman and other independent bodies should be established to protect the citizens from the state.
That brings us to one of the most important institutions of democracy .i.e. electoral commission. The role of the electoral commission must also be enshrined in the constitution. This office must be independent of the executive branch of government. It must be well resourced so that it can organise elections without any difficulties. The role played by Dr. Afari Gyan in conducting Ghana’s election can only be described as excellent. The electoral commission must be impartial so as to prevent the electoral disputes that characterised the elections in Kenya, Zimbabwe, Gabon, Equatorial Guinea and Nigeria.
The constitutions of the various countries should guarantee the existence of opposition parties. This will prevent the one party state found in most countries from gaining root. Absence of official opposition not only prevents the people from having a choice but also discredit any advantage democracy or elections may have. Therefore, constitutional and electoral courts should be established in member countries so that matters of political and electoral disputes could be settled amicably. Corruption should be punished severely and every effort should be made track down every penny stolen from the countries.
The AU
The African Union as a continental body has a lot to learn from Ghana’s elections.
The AU Charter should be reformed, strengthened and implemented to the letter. All regional bodies such as ECOWAS, SADC and the rest should be streamlined to work within the broader framework of the AU. The AU must not be a talking shop anymore. It must not be a gathering of corrupt, despotic and kleptocratic rulers but rather a gathering of true democrats. The AU must be a platform of action and concrete decision making, a platform where issues affecting the people are addressed. This will require strong, determined and visionary leadership. A leadership who share the thoughts and ideas of Nkrumah, Lumumba, Seketuri and Nasser and who are committed to fighting poverty and improving the lots of the people. The AU must have a full time foreign policy chief who will be the mouthpiece of the continent and who will articulate the needs and concerns of the people to the outside world. The AU should establish special bodies of experts who will serve as advisory bodies to the AU. The complete silence exhibited by the AU during the current Global Financial Crisis necessitates for the establishment of such bodies of experts. These bodies may include health, economics, environment, resource, science and technology.
Each country should strengthen her intelligence capabilities so as to ward off the undesirables of the cold war tactics where Africa was destabilised by the west using their intelligence branches and the various African countries should share vital information about what the west is up to. Every effort should be made to prevent arm struggles either within the countries or between the countries.
The days where suspensions are used as a form of punishment for coup plotters should be things of the past. Instead there should be a strong, well funded standing army (Africa High Command) ready to be deployed to any country where the army will try to cease power. Such an army should also be used to crash any arm insurgence that will show it ugly head onto the Africa political scene.
The Pan African Parliament should be strengthened and its decisions binding on all member countries. An African Court of Justice should be established to settle disputes between nations and within nations and its decisions must be binding on all members as well. This court must be the highest court on the continent. It must be modelled in line with European Court of Justice. Individuals could take their case to this court for dispensation of justice. These democratic and constitutional measures will definitely help to reduce conflicts and human rights’ abuse which is rife on the continent.
Africans must unite and form a common front so as to make their voices heard on the international stage. We must unite against all forms of propaganda from the rest the world. The positive effect that Aljazeera is having on the world is an indication of what positive thinking could bring to the world. Aljazeera has done well in shaping the world opinion about Islam, Arabs and issues affecting Muslims, Arabs and people of the developing world. To counter the growing influence of Aljazeera, BBC for example has had to close down some programmes in order to launch an Arabic version of the BBC. Africans must know that our coming together will be interpreted differently by many who do not share our interests. As a result every effort would be made to thwart these laudable efforts in order to maintain the status quo of having a north –south divide. We must also know that our effort to change our predicament would meet several challenges among them the huge financial requirement, the human and material resources needed and many others. But we must put ourselves together and start doing something now because a journey of a thousand miles begins with a step.
Finally it is time for the old guard of African politics to leave the scene and give way to the younger generation. There are a lot of Barak Obamas on the continent but they have been prevented by the old guard from making any economic, social and political contribution towards Africa’s development. It is very sad that even in this 21st Century these old guards still think they only hold the key to wisdom. Some of these old guards have been in power for more than 3 decades yet they still want to continue to rule. For example Gaddafi of Libya has been in power for 39 years now. Omar Bongo of Gabon 31 years, Teodoro Obiang Nguema of Equatorial Guinea 28 years, Robert Mugabe of Zimbabwe 28 years, Hosni Mubarak of Egypt 27 years, Paul Biya of Cameroon 26 years, Yoweri Museveni of Uganda 22 years, Omar Al Bashir of Sudan 19 years, Iddriss Derby of Chad 17 years, Yahya Jammeh of Gambia 14 years, and the list goes on unending. Recently the president of Tunisia has decided to make himself a life president of the country. The presence of such dictators is not only harmful to the image and the development of the continent but a major factor why impoverishment and underdevelopment is prevalent on the continent. Every effort should be made by the AU and the regional bodies to discourage such blatant abuse of power. It is against this background that Ghana should be commended again and again for conducting one of the freest elections on the continent.
Ghana’s elections are a straight message to the African Union and its members that democratic reform needed on the continent is long overdue and that the African Union should take notice of it. Let this 21st Century be a century of hope, a century of development, a century of prosperity and a century of peace for Africans and the world.
Lord Aikins Adusei
Posted in: Community Level
It’s not news to anyone that college costs are skyrocketing. The average cost of one year at a private college or university has risen to a shocking $31,465. It’s no wonder that parents and students look at that number and wonder whether a college degree is in their reach at all. However, many families overlook the tremendous costs savings that could be achieved by attending a community college for two years. Tuition at community college is typically half that of a public institution and just one-tenth that of a private institution.
For many years, community colleges fought the image that they were the last resort for students who couldn’t get in anywhere else and that their programs were not as challenging or comprehensive and those at larger colleges universities. Today, however, community colleges are thriving centers that not only provide state-of-the-art Career Education, but also provide a high-quality educational foundation for students who wish to transfer to a college or university after two years.
Because most colleges and universities, regardless of size, require students to take core courses in their first two years before choosing a major, taking these courses at the community college level will save money. Additionally, core courses at the university level are often held in large lecture halls with hundreds of students. At community colleges, class sizes rarely exceed 30 students. So, paradoxically, community college students receive more individualized attention yet pay much less for that privilege.
A Quality College Education at a Bargain Price
Instructors at the community college level are required to hold a Master’s degree in their instructional area. Some have pointed to this as evidence that community colleges cannot provide the same quality of instruction as colleges and universities that employ professors with Doctoral degrees. However, very few of those professors actually teach the core courses that students take during their first two years of college. Additionally, community college instructors often have real-world employment experience that gives them a more practical perspective than university professors, who are immersed in the world of academia.
Transferring to a larger institution at the end of two years at community college is often easier than being admitted as a Freshman. Also, many states guarantee admission to their state colleges and universities to community college graduates who maintain a certain grade point average. Even prestigious Ivy League colleges like Harvard, Yale and Brown have accepted transfer students from community colleges.
Kadence Buchanan
Posted in: Foreign Nations
The vast currency market is a foreign concept to the average individual. However, once it is broken down into simple terms, one can begin to easily understand the foreign exchange market and see what a profitable avenue of income participating in the trading of Forex can be.
Whether or not you are aware, you already play a role in the foreign exchange market, also known as the Forex market. The simple fact that you have money in your pocket makes you an investor of currencies, and more particularly, an investor of U.S Dollars!
The cash in your wallet and money in your savings account are in U.S. Dollars. The value of your mortgage, stocks, bonds, and other investments are expressed in U.S. Dollars. In other words, unless you are among the few Americans who have foreign bank accounts or have bought a modest amount of foreign currencies or securities, you are an investor of U.S. Dollars.
By holding U.S. Dollars, you have basically elected not to hold the currencies of other nations. Your purchase of stocks, bonds, and other investments, along with money deposited into your bank account represent investments that rely heavily on the integrity of the value of the currency in which it is denominated the U.S. Dollar.
Due to the constant increasing and decreasing value of the U.S. Dollar and the resultant fluctuation in exchange rates, your investment portfolio may have experienced changes in value, thus affecting your overall financial status.
With this in mind, it should be no surprise that many shrewd investors have taken advantage of the fluctuation in exchange rates using the volatility of the foreign exchange market to trade currencies and put more money in their pockets.
The foreign exchange market
Forex and Stocks
has experienced many changes since its inception. For years, as you learned above, the United States and its allies, under the Bretton Woods Agreement, participated in a system in which exchange rates were tied to the amount of gold reserves belonging to the nation. However in the summer of 1971, President Nixon took the United States off the gold standard, and floating exchange rates began to materialize.
Today, supply and demand for a particular currency, or its relative value, is the driving factor in determining exchange rates. There have been many radical global economic changes over the last decade.
Some of these changes have decreased obstacles and increased opportunities in world trade, such as the fall of communism in the Soviet Union and Eastern Europe, the renewed political reform in South America and the continuing liberalization of the Chinese economy have boosted the worldwide economy by opening up new markets and opportunities. These events have lifted traditional trade barriers resulting in a tremendous increase in foreign investment.
With this increase however, all nations are more interrelated and dependent upon one another. Increasing trade and foreign investment have made the economies of all nations more and more interrelated.
Fluctuations in economic activity in one country are reflected in that country’s currency and immediately transmitted to its partners, altering the relative price of products and thus affecting costs and profits, which in turn affect changes in currency values.
Regularly reported economic figures around the world, such as inflation or unemployment levels, as well as unexpected news, such as natural disasters or political instability, alters the desirability of holding a particular currency, thus influencing international supply and demand for that currency.
The U.S. Dollar, therefore, fluctuates constantly against the currencies of the rest of the world. The current web of international trade and the resultant fluctuations in exchange rates have created the world’s largest market the foreign exchange market, a market whose vast size makes it the most efficient, fairest, and liquid of all markets.
The Interbank Foreign Exchange Market is an unregulated, decentralized international forum that deals in the various major currencies of the world, with virtually no direct government regulation or interference.
The Interbank Foreign Exchange Market involves trading one nation s currency for the currency of another nation. Foreign exchange, however, is not a “market” in the traditional sense since there is no centralized location for trading activity. It is an electronically linked world-wide network of currency traders dispersed throughout the leading financial centers of the world.
An international community of approximately 400 banks make the daily currency exchanges for buyers and sellers worldwide who conduct business linked by the Internet, phones, computers, fax machines and other means of instant communication.
Trading occurs over the telephone and through computer terminals at thousands of locations worldwide. The direct Interbank market consists of dealers with currency settlement capabilities trading as principals. It is this dealer segment of the market that is responsible for generating a large portion of the overall foreign exchange volumes.
Trading between dealers creates the largest turnover in the market, making foreign exchange the most liquid of all markets. Trading approximately $1.5 trillion every day, the foreign exchange market is the largest financial market in the world. Traditionally, the foreign exchange market has only been available to banks, money managers, and large financial institutions.
Over the years, these institutions, including the U.S. Federal Reserve Bank, have realized large gains via currency trading. This growing market is now linked to a worldwide network of currency traders, including banks, central banks, brokers, and customers, such as importers and exporters.
Today, the foreign exchange market offers opportunities for profit not only to banks and institutions, but to individual investors as well. A great advantage is the size and volume of the Forex Interbank market makes it impossible to manipulate the market for any length of time. Unlike the equity markets, no really effective “insider” interference is possible for any length of time in the Forex market.
As a result Forex is an action based, decentralized international market that allows various major currencies of the world to seek their true value. It operates as the purest form of supply and demand for currencies as a tradable commodity. This is why many analysts refer to it as the most efficient market in the world.
Martin Chandra