Formal Enforcement Mechanisms and Informal Transactions

Operators of informal transactions developed certain interest in the relaxed nature of the business as compared to formal transaction because of its controversial laid down procedures and probably, the cost involved. However, due to the relaxed nature of informal transactions, it could be envisaged that, the environment would develop faster since its not strictly regulated. This paper critically examines the legal process of enforcing financial transactions in Ghana and, in particular, how appropriate and applicable such enforcement mechanisms are to informal financial transactions. It also explores the interplay between formal and informal financial transactions. The main aim of this paper is to outline the legal implications of formal and informal enforcement mechanisms regarding exchanges within and between informal financial entities. Keywords: informal finance, financial transactions, enforcement.

Susu: A Dynamic Microfinance Phenomenon in Ghana

Susu is a popular form of savings in most developing economies. It is practiced in different forms and under different names in both developing and developed countries. In spite of its contribution to the socio-economic development of both developing and developed countries, it remains under-researched. There is therefore the need for further research into this complex financial phenomenon. This paper thus, critically examines existing literature on Susu and other micro savings phenomenon. It shows that Susu is a complex and dynamic social phenomenon. In substance, it discovered that susu shares similarities with other micro savings schemes such as rotating savings and credit schemes, accumulating savings and credit associations as well as Christmas hampers and Christmas clubs in England and the United States respectively. It establishes that similar to other micro savings schemes, the object of Susu is to help rural, poor and low income earners meet their economic, social or communal needs. Keywords: Microfinance, Susu, Ghana, Informal Finance, Micro Savings, Rural Economie

The Media and the Offence of Criminal Libel in Ghana: Sankofa

This article critically examines the repealed criminal libel law in the light of the 1992 Constitutional provisions of Ghana as well as judicial precedents. It seeks to evaluate the constitutionality of criminal libel laws and their implications for freedom of the media. This article brings to fore the implications of re-introducing such laws into the Ghanaian legal system. It argues that the re-introduction of criminal libel laws would contravene the letter and spirit of the 1992 Constitution of Ghana, thus unconstitutional. It contends that the nature of criminal libel laws is such that it impedes the development of media freedom and practice. Finally, it suggests that both the media and individuals should be empowered to express their opinions within a free and fair political and economic environment. Keywords: Media, Press Freedom, Freedom of Speech, Criminal Libel, Seditious Libe

MAINTAINING ORDER IN THE MICROFINANCE SECTOR IN GHANA

ABSTRAC