don’t begin a commercial enterprise with a financial institution loan — dsp silas andoh-prah

deputy superintend of prisons (dsp) silas andoh-prah, in fee of communications on the manhyia local prison, has stated it isn’t always prudent for one to start clean corporations with loans from the banks, considering the high lending charges within the country.

he cited that tender loans from circle of relatives individuals, relied on buddies or private financial savings is the first-rate manner to head.

dsp silas andoh-prah changed into admonishing recruit officials of route 121, who are wrapping up their six months on-field para-military training on the manhyia neighborhood jail in kumasi on monday, august 22.

dsp silas andoh-prah, who additionally doubles as a senior interpersonal talents school room trainer for recruit and cadet officers training stated, “on startups, i can by no means suggest you, at this early stages of your life to head settle for financial institution loans, but rather speak to pals, depended on circle of relatives individuals or better nevertheless be disciplined on private savings so to take money from there for some thing commercial enterprise you want to venture into.”

the two hours session with the 24 recruits on economic literacy additionally touched on topics which includes finances, personal financial savings, monetary subject and investments.

he advises the recruits to take economic discipline severe as changed into the excellent manner to keep them faraway from falling into the temptation of extortion at the prisons.

he reiterated, “gentlemen, take this session with all the seriousness you could acquire and if for not anything at all, recall i cited to you, monetary subject; for that reason the way to draw your expenditure and spending, so no longer to fall prey to prisoners’ manipulation, which comes when they note you’re broke.”

be in search of ponzi schemes

commenting on ponzi schemes, he said there are numerous juicy investment schemes inside the u . s . a . which might be too desirable to be true.

“so recruits have to be careful no longer to fall for those antics for it is able to make one’s financial lifestyles depressing, considering the statistics and records to hand,” he said.

dsp silas andoh-prah delivered, “ i’m hoping you men recall the dkms, menzgold, tilapia advertising and marketing and a bunch of different juicy schemes that saw people walking to invest their hard-earned savings and later going bankrupt after the said corporations folded up. a number of those do nicely from the start until they are able to’t pay again and then disappoint clients.”

revision of curriculum

dsp silas andoh-prah reiterated the want for the inculcation of financial literacy into the schooling models of the recruit schooling.

“i accept as true with its time our prestigious education faculty upload economic literacy to our guides so that you can spark financial discipline and self-reliance direct from the reformation rectangular”, he stated.

the 23 recruits of path 121 are the closing batch of trainees that surpassed through the power for his or her on-area para-army education that started in january 2022.

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