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ECONOMY

The main source of employment is crop Agricultural, through which about 90% of the population attain their livelihood.  Others activities undertaken by the people are livestock rearing, poultry production, fuel wood extraction, food processing and mining.

The District has a dominant Primary Sector which serves mainly as the backbone of the economy.  The Secondary Sector is dormant and is organise into a Formal and Informal Sub Sectors.The Tertiary Sector which is almost beginning is weak and can be observed as Formal and Informal Sectors. The weak links between the Primary and Secondary Sectors has made economic activities sluggish. 

Extractive/Primary Sector

Agricultural plays the major role in the local economy.  Employing about 2/3rd of the labour force and accounting for about 75% of the LGDP.  All economic activities are also depending on it.  

It serves as the source of cash   crops, which comprise of cereals legumes and vegetables, and provide food stuffs and protein within these categories. It also provides inputs to satisfy the customary needs of people, a legitimate source of asserts, and income of people, through the production, sale and ownership of livestock, notably cattle, small ruminant’s animals and poultry.

It also provides the raw material needs of indigenous industries within the agro-processing sector; to be converted as both as processed food and for further raw materials.   The quarrying that is carried out in the district is of two kinds, the industrial quarrying that depending on granite outcrops to produce granites and marbles and other aggregates like chipping and dust on one hand and the Artisanal stone quarrying and heaping activities that also produce stones for the construction industry.

Sand and gravel winning though vehemently discourage in the district, is seriously a part of the district.  It is however recognised as a necessary evil if infrastructural in the district   is to development, hence an aggressive environmental restoration package is attached to engagements in those activities. 

 Similar to the above industry is the surface mining activities carried out in the district, the operation of which is unorganised, crude and a threat to the environment.  However, it is noted as a very viable source of employment and revenue and for that matter, the assembly has   recognised it as a sector to promote while taking steps to ensure environmental quality.

The Assembly has however continued to involve farmers, rural communities, landowners, contractors’ local institutions and NGO in the design and implementation of environmental management programmes.


Financial Institutions

The district is without a banking institution of our kind.  However efforts has been made since 2005 to establish a proposed Bank “The Talensi Community Bank”  in the District.This process was intuited by  private promoters staying outside the District (though Natives of the District) in consultation with the District Assembly.

A launching ceremonies was held in the District 2005, and share receipts were left with the finance section of the District Assembly for sale to interested parties .

The patronage has however been low, though a number of individuals and because here since bought such sharers.  It has been indicated however by the promoted that patronage in the by cities down south is high, and soon the threshold , for the establishment of the Bank will be searched.

The promoted in consultation with the Assembly are in the process of identifying and acquiring a piece of land for the construction of the Bank premises.

 

 


Date Created : 11/23/2017 4:04:49 AM