The Conditions And Treatment Of Africans And Their Descendants In Colonial Virginia

equirement was increased to GHS 7 million and banks were expected to achieve this by 2006. In the wake of the various reforms, the Banking Act 2004 repealed the Banking Act 1989 to merge existing banking laws, regulate banks and other associated issues (Adjei-Frimpong, 2013; BoG, 2007; IMF, 2011). The Banking Act 2004 was also amended as the Banking (Amendment) Act 2007 to permit the establishment of an International Financial Services Centre to boost the flow of foreign direct investment and income from foreign currency dominated fees. The Banking Act 2007 introduced the general banking license for universal and off-shore banking, Class I banking license for universal banking and Class II banking license for off-shore banking. The Ghanaian currency was redenominated in 2007 to equate 10,000 to one dollar. The minimum capital requirement for banks was further increased to GHS 60 million to engender competition and build the capacity of banks to engage in larger transactions. Foreign-owned banks had a two-year moratorium and local banks, a five-year moratorium to meet the requirement. The Parliament of Ghana passed an amendment bill to the Bank of Ghana Act 2004 in August 2016. The 2016 Act is to plug loopholes in the 2004 Act, bring regulations at par with international best practices, fortify the autonomy of the central bank, introduce new qualifications and eliminate the influence of the Finance Minister in appointing board members. The country also entered into an IMF-supported Extended Credit Facility Programme in 2015 which specified zero-financing by the central bank to government as opposed to the 5% financing ceil passed by Parliament.

Analysis of the facts and issues

SWOT analysis is a business analysis technique or strategy formulation tool employed to evaluate the strengths of an entity in order to exploit opportunities for improvement, address weaknesses and mitigate threats to determine policies that will best align the competences and resources to achieve set goals (Al-Zoubi & Honotoria, 2007; Helms & Nixon, 2010; Ommani, 2011; Wang, 2007). Al-Fayoumi and Abuzayed (2009) and Dhingra (2013) utilised SWOT analysis to assess the Jordanian banking sector and Indian public sector banks respectively. Lu and Yadong (2012) also employed SWOT analysis in the study of five rural banks in Heilongjiang province in China. Saravanan and Haneef (2011) used SWOT analysis as part of strategic planning process Non-Bank Financial companies in India. Figure 1 below depicts a SWOT diagram of the Ghanaian banking system.

Strengths

Sample Solution

  Africans and their descendants in colonial Virginia were subject to extreme forms of oppression and exploitation. They were held as slaves, often working long hours with inadequate food, clothing and shelter. Slaves were denied basic rights such as education, equality under the law, freedom of movement or assembly, marriage or legal contracts. Slavery was a brutal system where punishment could include whipping and public humiliation for breaking even minor rules. Even after the abolition of slavery in 1865, African Americans continued to face discrimination and segregation in housing, employment opportunities and education