Business News of Monday, 4 December 2017
Christian group, Mighty Men of Valour (MMV) of the International Central Gospel Church (ICGC) Trinity Church in Kumasi, has formed a business network to Support Christian businesses.
The initiative is aimed at creating a network of Christian businesses and businessmen to support each other to grow and to foster the church's development as well.
The objectives of the group were revealed at the maiden edition of the group's business seminar as part of its annual week celebration in Kumasi.
President, Jones Aboagye Acheampong, says the network will serve as a platform for business owners to learn how to start a business, make money, manage and multiply it.
"The business conference connects all the businessmen in the ministry to form a network. We come out with a website. This will connect and link us to other businesses and learn how Christians can start their own businesses and make money, manage and multiply it. Knowledge is power so we need the knowledge to make it so that we fulfil the destiny of God in our life on this earth," he said.
This will also mean that it will put Christian businessmen together to support individuals in the church operating budding businesses and entrepreneurs who need help.
"If your business is growing then you can support businesses in the church and the youth that need support, support the needy in the church so that it will be easier for those who have little can multiply and enjoy their service to God", Mr Acheampong added.
It is expected that the business support network will be a stronger force to help especially the youth to start their own businesses or secure jobs in the face of high unemployment, especially among graduates.
One of the speakers of the seminar, Managing Director for the BEIGE Pension Trust Fund, Richmond Frimpong, spoke on the theme, "how to make money, manage and multiply it."
He encouraged the business owner s and entrepreneurs to explore long-term accumulated interest on investment to build their portfolio.
For persons who want to start their own businesses, he advised that premium should be put on compound interest investments to secure easy funding in the face of a high-interest rate on loan servicing.
Financial analysts say holding investment account is prudent to grow funds for business support in an era of credit scarcity.
"The rate of interest in holding your money is zero, the rate of interest in putting your money in a savings account is just about 5 percent averagely but the rate of interest on any short-term investments will be a little over 18 to 20 percent. It means you beat inflation and any other thing that would have ordinarily not given you any return," Mr Frimpong said.
Mr. Frimpong is optimistic any young person can become a millionaire in the next ten years if we use the power of compounding.
Meanwhile, renowned economists, P rofessor Stephen Adei, who was the other speaker at the seminar admonished the Christian leaders to uphold integrity to a high esteem when put in business leadership positions.
Officials project the business seminar will be organised at least twice in a year to help individuals and businessmen in the church.
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