Occupational Gifting and Entrepreneurial Development among the Fantse of Ghana
Keywords:
Ageing, entrepreneurial development, family, filial piety, occupational gifting, youth employmentAbstract
This paper, derived from ethnographic research projects on the indigenous social and economic systems of the Fantse, conducted in Mankesim and Abura Markets in the Central Region of Ghana noted that the lack of credit facilities from the formal banking sector makes many youthful entrepreneurs rely on family and friends for start-up capital. Using the model of capital accumulation developed by Das, Mourmouras, and Rangazas (2018), the paper argues that occupational gifting offers opportunities for the aged to give out their lifetime savings and expertise in return for care and thereby creating avenues for the youth to raise capital to revamp existing small-scale family businesses to provide them with employment and facilitate effective care of the aged. The paper concludes that occupational gifting helps to guarantee a stable means of income and financial security for both the youth and the aged. It recommends that occupational gifting should be encouraged by making the youth accept businesses gifted to them and applying modern business strategies to develop such enterprises to help achieve the SDGs associated with the well-being of both parties, particularly, SDGs 1, 3, 5, 8 and 16.
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