COMMUNAL NON-FORMAL FINANCIAL MARKET SYSTEM DEVELOPMENT: A MODEL FOR NNOBOA MARKET SYSTEM

Abstract

Communal market system of mobilizing resources or funding has been with the indigenous people in the past. In Africa, particularly in Ghana it has been with the traditional people up to today. As we find it had to move the economy as a whole up, the indigenous people through this means are making it up in life. The problem has been with the impulsion of the western capitalism, which thrives on greed and individualism. This article gives reasons why Ghana should introduce a second financial market with traditional flavor. It recommends the modification of the old land marks, nnoboa, with modern technology which thrived through trust, communality and reciprocity that worked before the invasion of the land by the west to force us into capitalism

Keywords: Capitalism, Development, Ghana, Market, Nnoboa, synergy


Article Review Status: Published

Pages: 48-60 (Download PDF)

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