10 Beneficial Things Bank of Ghana's $504,000 Golden Watch Money Could Have Been Used For

The airwaves across the nation are inundated with opinions of all and sundry on the Bank of Ghana’s (BoG) decision to blow $504,000 on gold watches for 72 employees as end of year benefits. 

Some people approach the subject from a utilitarian point angle, whilst others look at it from the point of legality of the methodology used in the procurement process. I side with the former group of persons, and in this post, I proffer ten very beneficial ways the fund from the central bank’s 2016 budget could have been used for. The $504,000 in question converts into GHC2,005,290 (two million and five thousand, two-hundred and ninety Ghana cedis), that is over 20billion old cedis for wrist wears.

1. Solar powered mechanised boreholes in 22 communities: the cost of constructing a solar powered mechanised borehole is GHC91,000, with the capacity to irrigate an entire community. Looking at the abundant sun energy Ghana is blessed with and the water problems being faced in a good number of regions in the nation, the solar powered water machines would certainly be of good use to Ghanaians. 
2. 6-unit classroom blocks in 20 communities: schools under trees is one of the major problems faced by the Ghana education system, and with the cost of building a 6-unit classroom block currently pegged at GHC100,000 the BoG money would have tackled the problem to a substantial degree
3. Coat 3.5km road: it roughly costs GHC600,000 to cover a 1km road with primary coater. An investment into this sector is a long term one, and addresses one of the primary problems in Ghana’s infrastructure to an extent.
4. Nationwide cholera education programme: cholera has become a perennial endemic in Ghana: one of the major ways to solve a problem of this nature is through public education. And the method has particularly been proven effective in the case of cholera. All the health directorates need is 20bn old cedis to hit the road.
5. 5 modern 24-bedroom hostel facilities: accommodation is a key challenge in our country. Constructing a 24-bedroom hostel facility for either workers or students goes for GHC500,000. 2m Ghana cedis would get us 5 of those buildings.
6. Feed Osu Children’s Home for over 4 and half years: the nation’s historic orphanage has always had resource constraints. At a feeding rate of GHC2 (which is very excellent by Ghanaian standards) per meal, the less than 200 inmates of the facility will enjoy good nourishment, 3 times a day for 4 year and 8 months with the BoG watch money
7. Sponsor 4 medical doctors to study cardiology abroad: infections of the heart, just like many other non communicable diseases are on the rise in the country. The BoG cash would have ensured that the nation is equipped with four more experts in the matters of the heart, trained in some of the world’s best institutions.
8. 170 fish ponds for farming: this particular initiative would address two main issues: food insecurity and youth unemployment. A completed and well stocked 150 * 100ft earthen pond would amount to GHC12,000-which implies 20bn old cedis would have constructed 170pcs of ponds- which means the BoG watches have denied us some good source of constant protein as well as a decent number of employment opportunities.
9. Purchase over two-hundred thousand waste containers: good sanitation is a bane in the country, with indiscriminate disposal of waste a chief culprit. GHC2m is just enough to procure over two hundred thousand pcs of medium plastic rubbish containers to be distributed in all state owned primary schools across the nation.
10. Renew NHIS registration for all nurse and teacher trainees: the BoG money is more than enough to renew the National Health Insurance Scheme registration for all students of Nuses/Midwifery’ Training Schools and Teachers’ Training Colleges across the length and breadth of the nation.