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ADI Proposes Swift Implementation Of E-Cash Rewards

8 months ago
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ADI Proposes Swift Implementation Of E-Cash Rewards

The Alliance for Development and Industrialization (ADI), a leading think tank in Ghana, has proposed the swift implementation of the Social Equity Trust Fund (SETFund) as a transformative model to empower communities, foster industrial growth, and enhance financial inclusion.

This innovative initiative seeks to pool resources from individuals and organizations into a community-owned equity trust that provides both financial rewards and broader economic benefits.

The SETFund offers contributors a guaranteed annual return of 15 percent on their equity with quarterly cash-out options to ensure liquidity. Additionally, contributors can use their equity as collateral for loans and micro-credit, creating opportunities for financial empowerment and access to capital.

The model emphasizes long-term ownership, with equity remaining transferable to beneficiaries, promoting intergenerational wealth creation and stability.

SETFund’s primary focus is on channeling investments into critical sectors such as agriculture, manufacturing, and micro-industries. These investments are expected to enhance value chains, reduce import dependency, create jobs, and align with Ghana’s broader development goals.

Contributors also benefit from the opportunity to support others in financial constraints, building a cooperative and socially responsible economic ecosystem.

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The implementation of the SETFund will require the establishment of a governing trust that includes representatives from key stakeholder groups such as trade unions, farmers, traders, telco partners, and community organizations.

The government’s role will be limited to that of a regulator, ensuring transparency and public accountability. The trust will leverage existing mobile money platforms to enable real-time contribution tracking and equity management while providing user-friendly tools for contributors to monitor their returns and access benefits.

To ensure success, ADI emphasizes the importance of public awareness and stakeholder engagement. Targeted education campaigns will inform the public about the benefits of SETFund and address potential concerns about its transparency and accessibility.

Collaboration with community leaders, trade unions, and telco partners will foster trust and encourage widespread adoption. Pilot testing in selected regions and sectors will further refine the initiative, allowing adjustments to be made before scaling it nationwide.

The SETFund’s potential benefits are vast. It promises to empower contributors by providing financial security and access to credit, drive industrial growth through investments in agriculture and manufacturing, and strengthen social cohesion through collective ownership.

Additionally, the initiative will promote sustainable development by directing contributions toward impactful projects that align with Ghana’s economic priorities.

Francis Mensah, Convener of ADI, described SETFund as a forward-thinking solution that will not only empower communities but also accelerate Ghana’s industrial growth. He called on the government to provide the necessary legislative backing to ensure its successful implementation and to establish mechanisms for public accountability.

ADI is urging swift action to establish the SETFund, secure partnerships with telco and financial institutions, and pilot the initiative in key regions. With the right support and collaboration, SETFund has the potential to transform Ghana’s economic landscape, fostering collective prosperity and sustainable development for all.

Tags: ADI Proposes Swift Implementation Of E-Cash RewardsAlliance for Development and Industrialization (ADI)Social Equity Trust Fund (SETFund)

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