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GSR Special Series #1 - A Tale of Two Cedis (Part Three)


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An Allegorical series of blogs that covers a range of topics from international currencies to rural development in an engaging free flowing manner.

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GSR Special Series #1 - A Tale of Two Cedis (Part Three)

  1. 1. GSR Blog Special Series #1: A Tale of Two Cedis Part Three– The African SolutionAs you may recall, two adventurous cedi notes decidedto go out into the world to make their fortune. Butthey were having trouble deciding where would be thebest place to goThen a lowly 10 pesewa coin, which had been quietlylistening to the whole conversation, jumped up andsaid, “Why do you cedis want to run away fromAfrica, looking for a solution? Local development isan African problem, and there happens to be a reallysmart African solution! There’s no need to travel allover the world to find a solution when the solution isright here!”The cedis were kind of tired out from thinking about so many complicated developmentideas, but still, since they were, after all, money and thus always interested in economicdevelopment, they asked the lowly 10 pesewa what this “African solution to Africanproblems” might be. The coin explained it in this way:“You see that other vendor Jini over there?You see that palm oil bottle she is selling?’‘That’s Ozel palm oil, produced right here in Ghana. So?”“The 10 Pesewa pressed on,” Did you know that Ghana imports over 150 million cedisworth of palm oil every year? That oil could be produced right here!”“But there aren’t enough local mills,” explained the slightly exasperated cedi.“Well that’s my point,” replied the 10 pesewa. Green Self Reliance Inc. (GSR), is preparing toset up a large number of mills right here locally to process existing palm fruit into palm oil.Do you realize that Jini’s family has 10 acres of land, five of which are planted with maturepalm trees? They will sell the palm fruit to the CPO mills and make over 5000 cedis peryear. Right now, they don’t make a penny from the palm fruit, because there are no mills toprocess the fruit.”
  2. 2. The 10 pesewa had the attention of both cedis, but they had lots of doubts about this “African solution”. “Well, “one of the cedis sniffed, that’s good news for Jini, but how many farmers will benefit from this GSR Palm Oil mill? The 10 pesewa felt very satisfied that he was finally being taken seriously. “Silly cedi – don’t you realize that more than 200,000 farmers have planted palm in our region alone? GSR affiliates have already signed up 25,000 farmers to join theirPalm Growers Associations! Each mill that isbuilt will handle the harvests from as manyas 500 farmers, who will almostimmediately triple their income withoutinvesting a pesewa!”The cedis were dumbfounded. They realizedthat this solution was grass roots, relativelylow cost, and incredibly effective. It wouldempowers small farmers like Lili throughenhanced practical capital access, enhancedmarket access, and enhanced productivitythrough training.