Is Ghana’s “198 years old” Amodzie the oldest woman in the world?

August 30, 2021

Claim: Ghana is home to the oldest woman on earth, according to Captain Smart, the host of Onua TV’s Maakye show.

Verdict: Insufficient evidence. Captain Smart’s claim of having interviewed the oldest person on earth cannot be regarded as factual due to the absence of adequate documentary proof or scientific test to confirm the age of the woman.

Full text:

A viral video from a live telecast of Onua TV’s Morning Show on August 16, 2021, streamed on Onua TV’s Facebook account, claimed a 198-year old Ghanaian woman, who gave her name as Amodzie, is the oldest woman in the world.

The host of ‘Maakye’ (name of the programme), Captain Smart, said, while introducing his guest, that the Ghanaian is the oldest woman in the world, after asserting that similar records provided by the “Guinness Book of Records,” now Guinness World Records (GWR), were untrue.

Amodzie, during the interview, referred to her knowledge of the birth of the late Dr. Kwame Nkrumah, Ghana’s first President, as a confirmation of her age, in the absence of any documentary proof.

According to her, she witnessed the time the late Dr. Nkrumah’s mother was pregnant with him, as well as knew of his birth in 1901.

To further prove her age, she said she had divorced twice and was in her third marriage at the time of Nkrumah’s birth.

In addition, she said some educated people around the time indicated her age to her while she was growing.

She is revealed to have birthed seven children, of which three have passed on. The youngest (last to be born) of her children is currently 88 years old, according to Captain Smart.

Verification:

Her ‘vivid recollection’ of events that took place at the time leading to the late Dr. Nkrumah’s birth as well as becoming the first President made the claim quite interesting to verify.

However, the absence of any documentary proof to confirm her age made the claim about her age quite debatable.

Granted that the claim is true, this means that Amodzie was born circa 1823. If so, with the youngest child alleged to be 88 years this year, it will mean that she gave birth to her at the age of 110 years, in 1933.

At what age can a woman not have a baby?

In 2019 the Washington Post reported Mangayamma Yaramati as the oldest person to birth a child, at the age of 74 years.

The development revived several controversies around geriatric pregnancies because the twins she had were conceived through in-vitro fertilization. This was because, at 74 years, she had experienced menopause, according to the Washington Post.

Healthline Media says a higher proportion of women reach menopause, the stopping of the menstrual cycle (for a year or longer), somewhere between their late 40s and early 50s, with an average age of around 51 years old.

It also notes that women who give birth at older ages between 55 and 70 could possibly conceive through hormone therapy and in-vitro fertilization (IVF).

Ghanaian context

A specialist obstetrician and gynaecologist, Dr. Senyo M.K. Misroame, explained in a telephone interview that the history of an older person conceiving and giving birth is traced to the Bible.

But he added that no scientific data is available to prove this occurrence.

Dr. Misroame, who is also the CEO of Tantra Community Clinic and Fertility Centre, Acheampong Specialist Clinic, at Labone, said the oldest person he has seen getting pregnant at one of his facilities was at age 52 years.

However, he added, “currently, there is no data to support claims that a person has gotten pregnant at such an advanced age beyond 70 years and above what I have come across.”

According to him, scientific research undertaken locally put the average ages for menopause of Ghanaian women, especially southerners, between 42 and 52 years.

“So, most women will fall into that bracket,” and outliers who will have their menopause pretty early, after 40 years. And added that after menopause women are not able to conceive naturally.

Advanced technologies that have come to aid women to conceive at older ages are recent inventions and did not exist at the time, with regards to the claim under review.”

Based on these, he concluded that it is almost impossible physiologically while no data also exists to support such a claim at the moment.

World’s oldest person

According to the Guinness World Records, the oldest person living (female) is Kane Tanaka, from Fukuoka in Japan. She was born on January 2, 1903.

At the time her age was verified, on February 12, 2020, she was 117 years and 41 days. This means she is currently (as of August 18) 118 years and 7 months and 24 days.

How credible is this claim?

The Guinness World Records remains one of the common platforms to verify such unique claims. As noted by Wikipedia, “it is a reference book published annually, listing world records both of human achievements and other extremes of the natural world.”

Criteria for determining a record title

Each record title in the Guinness World Records is scrutinised and meets some specific requirements including measurability (can the claim be measured objectively? what is the unit of measurement?), and verifiability (can it be proven and will there be accurate evidence available to prove it?).

It is only when a claim meets the above conditions and some others that Guinness World Records is able to approve its accuracy.

Human life expectancy:

Definition – According to the World Health Organisation, “the average number of years that a newborn could expect to live if he or she were to pass through life exposed to the sex- and age-specific death rates prevailing at the time of his or her birth, for a specific year, in a given country, territory, or geographic area.”

According to research by the University of Washington, the number of people who live past the age of 100 has been on the rise for decades, up to nearly half a million people worldwide.

It, however, asserted that there are “far fewer “supercentenarians,” people who live to age 110 or even longer,” while noting that the oldest living person, Jeanne Calment of France, was 122 when she died in 1997.

The research went further to confirm the world’s current oldest person as the 118-year-old Kane Tanaka of Japan.

Conclusion:

Given the limited data on the life expectancy of Ghanaians in the 20th century, as a means to thoroughly verify the claim, in addition to the absence of any documentary proof by the claimant, it would be inconclusive to say Amodzie is the oldest person in the world.

Ohene TK set to release ‘Undiluted’ this Saturday

August 28, 2021

The long-awaited single track of the prolific young US-based Ghanaian rapper, Ohene TK, has released his latest single much to the excitement of teeming fans and ardent followers of the Oseikrom born rap dynamo.

The track titled ‘Undiluted,’ a non-stopping syntax of word rhymes that continues for some good four minutes is a pure poetic expression of the harsh realities of the contemporary African society.

It touches on the struggles of social life, religion, politics, and history.

The ‘wide array of issues’ covered by the single track lend credence to some of the increasing frustrations within some black African communities which fuels both moral and economic corruption.

The song, after being premiered, is expected to be released on almost all music streaming platforms currently available across the various continents.

The evolution of rap music, a subsection of hip-hop music and culture, in recent times has seen many new acts turn to ‘drill music’ especially in Ghana, but Ohene TK’s standard composition attest to his rap prowess and maturity since busting into the music scene.

The multitalented rap act could do almost all genres of music but focusing more on rap at the moment.

Originally known as ‘The King TK,’ the young rap act had to rebrand to ‘Ohene TK,’ to reflect his African origin, after he emigrated to the United States of America.

One of the first projects he worked on after the rebranding was a seven-track EP titled ‘Becoming.’

Becoming details Ohene TK’s upbringing; narrating some of the life difficulties he’s faced growing up in the suburban town of Old Tafo in Kumasi, as well as the barriers to his young musical career in Ghana, that he had to overcome.

He is also consciously working on an album which will be announced to the music public on the due date by his management.

For now, all eyes are on Undiluted. You can follow Ohene TK on all social media platforms.

Contractor working to avert flooding at second phase of Kejetia Market

August 20, 2021

IMG-20210818-WA0052 — The Deputy Minister for Local Government and his team interacting with officials of Contracta at the project site, during the inspection.

The contractor working on the second stage of the Kumasi Kejetia Market project has assured that steps are being taken to avoid any future flooding at the yet to be constructed market project.

However, this would require that the remaining 20 percent of the project land which is currently occupied by some traders is freed to enable them to have a comprehensive view, of the area.

This would allow them to come out with the “right geo-studies to be able to construct the best type of drains for the project,” according to the Deputy Minister for Local Government, Decentralisation and Rural Development, Mr. Augustine Collins Ntim.

This follows the recent occurrence, on June 24, 2021, at the newly redeveloped Kejetia Market, where the facility was flooded after a torrential three-hour downpour. The flooding was later attributed to some tree logs which blocked major drainage of the market.

But to relocate the remaining traders for the work to progress, the Deputy Minister said the Ashanti Regional Minister, Kumasi Mayor and all the key stakeholders have met to determine the timelines for the relocation.

Ongoing work at the phase 2 of the Kejetia Market project, at the time of the inspection

This, he said is favorable while expressing satisfaction with the progress of work, as he inspected the ongoing works together with some officials of the construction firm, Contracta.

The project which was initially expected to be completed by November 2024, however, is anticipated to be completed some six months ahead of the original timeline, by the government.

But the construction firm is confident that barring all the current challenges this could be achieved, Mr. Collins Ntim stated.

He observed that the number of shops that will be provided after the construction is more than enough to accompany the traders who initially occupied the Central Market.

“We need the support of everyone and I’m very happy Otumfuo is already committed,” while adding that the Sector Minister, Mr. Dan Botwe, is also fully committed to providing all the necessary support.

The construction of the Kumasi Central Market project, which marks phase two of the Kejetia Redevelopment Project begun in 2014, is costed at €248 million

The project, initially scheduled to be completed in 48 months is being done by Messers Contracta Construction Limited, UK.

It is financed by a German bank with export credit guarantee from the United Kingdom Export Finance (UKEF).

The project, on completion, will have 6,500 leasable commercial spaces, 5,400 closed stores, 50 restaurants, 800 kiosks, 210 fishmonger and butcher stores, 40 livestock and 1,800 square kilometers of community facilities.

It will also feature other essential facilities such as a waste treatment plant, police and fire stations, post offices and an amphitheatre.

The provision of this new infrastructure with its state-of-the-art facilities is hoped to address and mitigate the underlying fire outbreaks by ensuring the safety and security of traders and consumers as well as the comfort of trading.

The Community Liaison Officer of Contracta, Mr. Emmanuel Danso, speaking in an interview at the sidelines of the visit by the Deputy Minister, observed that if their request to have possession of the remaining 20 per cent of the project site is met, they will be able to meet the requested project completion date.

He said all things being equal if the company is supported as promised they would be able to deliver on the new deadline.

The Deputy Minister for Local Government and his team interacting with officials of Contracta at the project site, during the inspection.

MTN to give away 25 cars, other freebies to customers

August 12, 2021

MTN Ghana, as part of its 25th anniversary celebration, is giving away 25 brand new cars and other valuable freebies to its over 21 million customers across the country, the telecom giant’s senior specialist, segment marketing, Maxwell Arthur has announced.

Mr. Authur made the mouth-watering announcement during an online media encounter to launch the MTN 25 anniversary promo.

Dubbed ‘MTN 25th Anniversary Mega Promo’ the promotion is based on usage where participants accrue points via revenue-generating activities such as Voice, Data, SMS, Value Added Service (VAS), digital and Mobile Money transactions where fees are charged. The promo points are skewed towards revenue-generating activities performed on MTN Ghana’s digital platforms. A customer enters into the promo by dialling *156# and select option 5.

Addressing journalists during the online event, Mr. Authur noted that the promo targets all MTN customers as part of the 25th Anniversary Celebration of Scancom PLC in recognition of its customer’s loyalty. The Promo will run from August to October 2021.

Participants could win a brand-new Hyundai Sonata, cash rewards, and free airtime amongst others, he stated, adding that to deepen MTN Ghana’s regionalized value proposition, “the promo is designed to ensure that at least a customer in each of the 16 regions drives home a brand-new Hyundai Sonata.”

Determining winners

Winner selection, rankings, and prizes would be available to only those who opt in by dialling *156#. Fibre Broadband (FBB) customers are opted in by default and will not require to dial *156#, Authur explained. The minimum spend which qualifies a customer to accrue promo points is one pesewa and above.

Meanwhile, non-voice numbers such as Access Point Names (APNs), MIFIs, Modems, Routers etc. are excluded from the promotion, however purchases made from other MTN Phone numbers or Sim Cards for these services will accrue points on the purchasing MSISDN.

How do FBB and Fixed LTE (FLTE/Turbonet) user qualify?

An FBB and Fixed LTE (FLTE/Turbonet) user can qualify for participation in the promo by making an FBB or FLTE data purchase for his or her account on any platform. ALL purchases for FBB or FLTE data on ALL platforms will accrue points on the FBB or FLTE account. Points accumulation cannot be checked real time and will be reported at end of month

If a number purchases data for any non-voice SIM (e.g. MIFI, Modems, and Routers) in a device, the parent / the MSISDN that purchases the data will be rewarded with the applicable promo points. Usage of bundled data by the linked SIM (Non-voice SIM in a device) does not accrue points.

Unqualified customers will receive the feedback “Dear customer you are not eligible for this offer.”

Accruing points based on spend or usage

All qualified MTN customers will accrue points based on spend or usage. The promo will award 10 points for every pesewa spent on My MTN App, Ayoba App, Pulse, MTN hoods channel on Facebook & MoMo App. Spend on MoMo App is limited to the fees /charge per MoMo transaction.

Customers will be assigned target points just once, at the start of the promo and will have same target points for the duration of the promo. Monthly prize rewards will be based on the percentage margins with which participants exceed their target points ranked from the highest percentage margin to the lowest.

AIOMCG poised to bail struggling OMCs

July 26, 2021

IMG-20210725-WA0002 — The Certificate of Incorporation

The newly incorporated Association of Indigenous Oil Marketing Companies of Ghana (AIOMCG), has revealed that it continues to receive more membership interest, from Ghanaian owned Oil Marketing Companies (OMCs).

According to the coordinators of AIOMCG, they have reached out to over 30 indigenous OMCs and more than 15 of them have duly registered as members of the association.

They are confident that many indigenous OMCs will join their association hopefully by the close of the year owing to their official registration with the Registrar General, NPA notification as well as a formal introduction to the Energy Ministry.

“We are going to meet or exceed our memberships target soon,” Technical Director of AIOMCG, Elias Slim Bansi, disclosed in an interview.

The breakaway group which is now a full-fledged association vowed to bail out struggling members.

To this end, they have held an extensive dialogue which is near conclusion with some key banks in the country to provide a financial bailout for struggling OMCs which are members of the association.

“We are poised to protect our members from unfair treatments in the downstream industry. We are also going to champion their interests to enable us to beat off the stiff competition from the foreign OMCs,” Mr. Bansi added.

The Director of Administration of AIOMCG, Mr. Patrick Ekar said “We believe that the association will make a huge difference. This is because in the industry many of the OMCs feel sidelined and bullied in issues that concern them.

With this kind of leadership, we are always in readiness in tackling individual challenges faced by various indigenous OMCs.

He explained that this is in regards to policy making, lack of proper structures with regards to some of the business operations for the OMCs.

“We will put in place strong structures and policies as stakeholders so that we can play a key part during the price increment consultation process as the ripple effects affect AIOMC as we do provide employment for tanker owners, drivers, mechanics, tank fabricators, accountants, pay tax, administrators, insurance companies, station attendants, securities among others.”

AIOMCG’s registration certificate is attached which officially signs OMCs on as members have some reference questions that will enable the leadership to also check their standings with the National Petroleum Authority (NPA) and the Ghana Revenue Authority (GRA).

The executives of the association also pledged to solidify the bond between AIOMCs and the NPA/Energy ministry.

“We believe we can make a difference as we are bringing on board initiatives and reforms that’ll ensure that our members interests are properly met. This is because the OMC business provides employment and bread to the tables of many Ghanaians. If the business terms don’t allow the companies to do business well, they end up having to strangle the salary potential and employment potential of the youth,” Mr. Ekar explained.

In May this year, the AIOMCG broke away from the Association of Oil Marketing Companies (AOMCs) to be on its own, due to the alleged failure of the AOMCs to protect the indigenous Ghanaian OMCs from unfair treatments in the downstream industry.

But the executives of the AIOMCG assured their colleague indigenous OMCs that they would at all times work together with them to move the petroleum downstream industry forward.

The AIOMCG according to them would champion the interests of the indigenous OMCs while collaborating with the regulator, local and international organizations, and other stakeholders to expand the frontiers of the industry and beyond.

Furthermore, the AIOMCG assured that many of the challenges confronting the industry would be addressed within the shortest possible time.

The downstream activities include the marketing and distribution of petroleum products by the OMCs and the pre-mixing of petroleum products for other industrial uses are catalysts for the socio-economic development of the country.

Fact Sheet: The June 24 flooding in Kumasi: deaths, destruction and displacement

July 6, 2021

IMG-20210629-WA0068 — City officials inspecting damaged caused by the June 24 flooding

The torrential downpour witnessed in Kumasi and other parts of the Ashanti Region, last Thursday, June 24, 2021, resulted in massive flooding of some areas of the city, displacing many residents.

The development, a perennial occurrence, has so far also led to the deaths of six people including an infant, according to the Ashanti Regional office of the National Disaster Management Organisation (NADMO).

The deceased persons include three young girls, according to myjoyonline.com. Two of the girls, who were siblings aged 8 and 2 years, were swept away by floodwaters at Asuoyeboa, a suburb of Kumasi, after River Abonsua, which had overflowed its banks, entered their residence, it was reported.

Meanwhile, properties worth millions of Ghana cedis including buildings, roads, market wears, household items were also destroyed due to the heavy rainfall.

Chief Executive of KMA inspecting some of the dame caused by the flooding in one of the communities

Some Key Facts To Note

Wednesday, June 23

Rainfall amount recorded: 55.9 mm

Duration of the rainfall: 5 hours

Thursday, June 24

Rainfall amount recorded: 108.38 mm

Duration of the rainfall: 3 hours 6 minutes

The total number of deaths reported so far is 6
Assessment by NADMO still ongoing

5 Ghana National Fire Service has desilted major drainage around the new Kejetia Market

Housing Minister orders 300 structures on watercourses to be pulled down

What Caused The Flood?

Data provided by the Ghana Meteorological Service Department in Kumasi shows that the three hours and six minutes downpour measured up to 108.38 millimetres. This amount of rainfall recorded has been described as unprecedented within the last 10 years in the region.

The District Meteorological Officer, Kwame Ofori-Agyemeng, explained that before the widespread flooding on Thursday, a rainfall amount of 55.9 millimetres was recorded the previous day, Wednesday, June 23. This is one of the two key factors that led to the flooding.

According to him, June is the peak of the rainy season and during this time the water table in the earth crust rises due to predominant rains.

A newly constructed bridge partly washed away

As a result of that, any significant amount of rainfall that the earth soaks will be saturated enough for the earth to gradually assimilate or drain before the rain on the surface can settle.

However, it is important to highlight that the amount of rainfall recorded on the day the flooding occurred was very huge, and has not been recorded for the past 15 years according to data available for Kumasi rainfall.

The intensity of the rainfall within that short period of time is quite notable.

“So, from the previous day’s rainfall which shows that the earth surface had already soaked some significant amount of rainwater, there was a likelihood of flood, as was the case,” said Ofori-Agyemeng.

Ofori-Agyemeng was clear that anthropogenic activities (human activities) further aggravated the flooding. The indiscriminate disposal of refuse, particularly plastics, building in waterways among others affected the ability of the rainwater to find its way to join water bodies.

He proposed the construction of storm drains as well as properly structured bridges, where necessary, to significantly address the annual floods witnessed in the country.

The Aftermath of the Flood: Response of government and other agencies

According to NADMO, assessment of the flooding incident is still ongoing but they confirmed that a total of six people have died as a result of the flooding last Thursday.

The Deputy Ashanti Regional Deputy Director of NADMO, Ernest Yaw Amoah, disclosed that most parts of the region were affected while attributing one of the possible causes of the flooding to building in waterways.

Meanwhile, the Ghana National Fire Service who intervened in several near-fatal situations during the floods have worked to desilt major drainage around the newly developed Kejetia Market which also flooded.

Personnel from the Fire Service with the assistance of some persons removed tree storms from the main drainage system of the market. According to the Daily Graphic, some city authorities pointed to the tree storms as the cause of the flooding of the Kejetia Market.

A bridge in one of the communities choked with plastics after the flooding

The Kumasi Metropolitan Assembly (KMA) has, however, said they are waiting for a report from NADMO and the Town and Country Planning Department of the Assembly to inform their next line of action.

The Public Relations Officer of KMA, Henrietta Afia Konadu, however, noted that the initial assessment of the flooding situation pointed to human causes. However, she maintained that it will require collaborative work between the affected Metropolitan, Municipal and District Assemblies (MMDA’s) to effectively tackle the annual flooding witnessed in the Region.

KMA fears the current situation is likely to affect revenue collection but the loss could only be realised at the end of the financial year.

The Minister of Works and Housing, Mr Francis Asenso-Boakye, has asked city authorities to pull down over 300 structures which are identified to be on watercourses.

It is believed that this would help avert further flooding in the future, with the onset of the rainy season.

“Mr Asenso-Boakye gave the advice last Monday when he visited some areas in Kumasi that were affected by the heavy rains recorded last week and which left two people dead in the metropolis and rendered many others homeless.”

According to Mr Asenso-Boakye, managing floods was not the responsibility of only the Ministry but also the MMDAs, as well as their chief executives, who had been mandated to manage floods at the local level and help solve the perennial floods across the country.

City officials interacting with traders at the newly constructed Kejetia Market while inspecting the damage caused by the flooding

The European Cup 2021 – The Favorites, Underdogs & Outsiders, bets All football fans in Ghana are

June 25, 2021

All football fans in Ghana are excited for the upcoming European Cup finals Scheduled for June and July 2021. Portugal comes into this competition as the reigning champions after seeing off France in 2016. Which teams are the front-runners to win this competition?

Unlike the previous years where there were automatic qualifying berths, this year’s Euros will have none due to various countries hosting the matches. Every side that is in this competition had to win their groups or play-off matches.

Who Are the Favorites to Win the Euros Crown?

England – The Uncharted Territory

Most bookmakers are placing England as the favourites to win the European Cup Championship after finishing fourth in the World Cup 2018. Melbet has given them an impressive odd of 5.9 to win the competition.

Who Are the Favorites to Win the Euros Crown?

The team has one of the most impressive line-ups of Harry Kane, Rahim Sterling, Jordan Sancho, and Jack Grealish. Additionally, the English team has one of the youngest teams in the competition. The finals will be held in Wembley, and Gareth Southgate has a perfect chance to write history by lifting the European cup in front of the home fans.

France – The World Cup Defending Champions

Another team that is expected to put up a strong performance in the upcoming European competition is the French National team. The World Champions have an odd of 5.7 on Melbet to win the tournament, winning the cup last in 2000. Le Bleus have won the Euros Cup twice and were runners up in 2016, losing to Portugal.

In 2018, the French team won six matches and drew one, beating Croatia 4-2 in the final to lift the iconic World Cup trophy. The French team is not short of big names, boasting players like Kylian Mbappe, Paul Pogba, Nkalo Kante, and Karim Benzema.

Belgium – The Golden Generation

The ‘Golden Generation’ of Belgium is slowly ageing, and the Euros 2021 Cup gives them a chance to win a major trophy. Melbet gives Belgium an odd od 7 to win the competition. The closest Belgium has gone in a major competition is 1980 when they reached the finals in Euros.

The Belgium team is one of the most talented team sheets in the world, boasting Eden Hazard, Romelu Lukaku, Kevin Debryne. If the Red Devils finally use their golden generation, this could be their year to win the European Cup Finals.

Who Are the Euro 2020 Underdogs?

Unlike the previous years, Spain, Germany and Italy come into this competition as the underdogs. Melbet has given Spain an odd of 8.7 to win the European Cup 2021, which is impressive considering the team still has a considerable talent on its team sheet. If Spain wins this competition, they will become the most successful team in the history of this European Championship.

Germany is another underdog coming into the European Cup 2021 Finals. The La Roja side won this competition back-to-back in 2008 and 2012, becoming the first side to win a back-to-back competition. This competition gives Germany a chance to redeem themselves after a disappointing show in the 2018 World Cup Finals. Melbet gives Germany an odd of 8.1 to win the European Cup Finals.

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La Roja won the competition in 2008 and 2012, becoming the first side to retain the title in the process, aiming to make up for a disappointing showing at the 2018 World Cup.

The last team in our list of underdogs is the European Cup holder Portugal. Whether this team has a chance to replicate their 2016 success is something every football fan is waiting to see. Melbet gives Portugal an odd of 9.2 to win the competition. With impressive talents like Bernado Silva, Diago Jorta and Christiano Ronaldo, Portugal can win this competition.

The Potential Dark Horses?

Italy has a chance of winning its second European Cup finals after failing to reach the last World Cup Finals. The Azzuri comes into this tournament with an odd of 11 on Melbet. With ten wins from 10 games in the qualifying stage, Italy is a team you cannot rule out to win this competition.

The Dutch have failed to qualify for the last two major tournaments and will come into this competition as underdogs. In the qualifying stage, the Oranje collected 19 pints from a possible 24, which is impressive. Although the loss of their captain Virgil van Dijk is a significant blow, Melbet gives them an odd of 12.5 to win this tournament.

Why Melbet

Although there are numerous Bookmarkers in Ghana, Melbet has proved to be the most user-friendly and reliable. It has the biggest odds and has an efficient financial system.

When you withdraw money after winning a bet, the money hits your account within seconds. Equally, when you deposit money to Melbet, your money takes seconds to reflect

VGMA 1st national music summit – meet your speakers

June 20, 2021

As part of the world music day celebration and as part of the activities lined up for the VGMA Musical June, Ghana’s biggest music awards scheme introduces the VGMA National Music Summit.

The summit is to use music as a tool to drive social change and is aimed at using education to empower players in the industry to help better the lot of the sector. The summit is to be held with limited audience but shared with millions across the VGMA official social media channels. It starts at 10am and ends at 2pm.

The 4 hour event is meant to engage Musicians, Music Producers & Managers, Distributors of Music, Music Promoters, Media and Other Industry Players nationally to discuss core industry issues.

At the end of the dialogue, a communique on the insights, conclusions and recommendations collated from the discussions will be presented to the Ministry of Tourism & Creative Arts for consideration. There will be 3 panel discussions; Royalties – The Way Forward, Music Distribution in the Digital Era and Play it LIVE.

Starting off the conversation for Royalties- The way forward, are; Munyaradzi Chanetsa, A&R Manager, Sony South Africa. Rex Omar – Chairman Ghamro and Veteran Ghanaian musician. Abraham Adjetey, President of Ghamro. Trigmatic, is a Ghanaian award winning musician, composer, songwriter and Philanthropist. Last but not least, Cynthia Quarcoo, Managing Partner, CQ Legal & Consulting.

Leading the conversations in the Music distribution in the digital era are 3 distinguished industry players with in-depth practical knowledge in their respective field of endeavor. Chioma Onuchukwu is Head of Operations at TuneCore Nigeria, Ghana, Tanzania, Sierra Leone, Liberia, Gambia & Ethiopia. Jefferson Seneadza CEO of Aftown – a digital sales platform. Munyaradzi Chanetsa, A&R Manager, Sony South Africa. Juan Gomez is the Head of African Content and Curation at Pandora Media.

CEO EKB Records a talent Management and Entertainment company and LIVE Music enthusiast Kiki Banson, will be heading the PLAY IT LIVE discussion. With support from Kwame Yeboah, a Ghanaian born, UK based multi-talented instrumentalist, producer and keyboard player and programmer and Beats Mechanic.

The event will be hosted by Rudy Kwakye – Executive Producer AfroNationGhana Festival

The VGMA NATIONAL MUSIC SUMMIT is powered by charterhouse, partnered by Tv3, GHQR, KPMG, DStv, Media partners and proudly brought to you by Vodafone, Together We Can!

Insufficient evidence to back viral video of Burkinabees illegally migrating to Ghana

June 16, 2021

Claim: Social media users claim Burkinabes are illegally migrating to Ghana

Verdict: Insufficient evidence to say Burkinabe refugees have been migrating illegally to Ghana. While the Ghana Immigration Service says no mass immigration into the country has been recorded by their outfit, we are unable to independently confirm the origin of the video.

Full Text

A viral video claims Burkinabees fleeing conflict in their towns are illegally migrating into Ghana. According to some Facebook posters, the people seen in the video are migrating illegally to Ghana.

The video shows tens of people, both women and men including children, appearing to be escaping from a looming danger, in what appears to be an arid environment.

Given the look of the environment, many people have taken to social media to speculate that these are “Burkinabes illegally migrating to Ghana,” one of the posts claimed.

One poster labelled the post as a ‘Security alert!…., suggesting that the presence of the people could somehow be a threat.

Facebook posts:

The video has surfaced in Nigeria as well with some Facebook users claiming the people were fleeing a volcanic eruption in the Congo while others insist they running from terrorists in Niger.

Recent developments in Burkina Faso

Several families have fled their homes after attackers killed 138 people in Solhan according to a report by Al Jazeera.

Following the attack, the Prime Minister of Burkina Faso, Christophe Dabire paid a visit to the affected areas.

Verification

According to the Head of Public Relations, Ghana Immigration Service Assistant Superintendent, Martin Tioseh Soyeh, no such mass movement of people from Burkina Faso has been recorded by the Service.

In addition to this, he said the Service has not picked up any intelligence regarding these Burkinabes, seen in the viral video on social media, from any of their day and night patrols or from informants along the border communities or townspeople could attempt to enter illegally.

However, he maintained that since those people are alleged to be running away due to the conflict in their village, the Immigration Service will not attempt to stop them should they come across such persons but profile them.

This is meant to ensure that the entry of the people will not disrupt the peace in the country or affect the social or economic wellbeing of Ghanaians. He said these cautionary measures would be taken in collaboration with the Ghana Police Service, National Disaster Management Organisation (NADMO) and the Social Welfare.

The Upper East Regional Police Command also disclosed in the cause of investigating this viral claim that no information to this effect has come to their notice. They maintained that the Command has not gathered any intelligence on this development while suggesting that an alert would have been issued if any possible situation had been sighted.

Conclusion:

Based on the evidence gathered so far, it is insufficient to suggest that the Burkinabe refugees were entering any town in Ghana as seen in the video circulating on social media.

How many trucks did President Akufo-Addo really unveil?

June 10, 2021

President okays zero levy for 3 fuel products — Nana Akufo-Addo

President Akufo-Addo on Tuesday, June 8, 2021 cut tape to unveil some waste and disinfection trucks secured by Zoomlion Ghana, at a ceremony at the Independence Square.

Following this development, several national newspapers have quoted conflicting figures on their front-page headlines causing social media uproar over the exact numbers of trucks the President unveiled.

The state publishing houses, including the Daily Graphic and Ghanaian Times, who also covered the ceremony to commission the trucks also provided different figures in their front-page headlines.

While the Daily Graphic reported 126 trucks in its headline, with a breakdown of 101 waste management trucks and 25 disinfection trucks, the Ghanaian Times newspaper quoted 500 trucks in its publication.

The Daily Guide newspaper also reported the number of the waste trucks unveiled to be 101 whereas The Ghanaian Publisher reported 100 waste trucks with 400 more expected.

How Many Trucks Were Really Unveiled?

Listening to the speeches of the President and the Chief Executive of Jospong Group of Companies at the event, we identified where the confusion possibly started.

President Akufo-Addo in his speech said 101 waste management trucks and 25 disinfection trucks were being unveiled.

“The procurement of these 101 waste management trucks by Zoomlion Ghana Limited will augment the existing fleet of vehicles to improve waste collection and transportation in the country. These are the first batch of 500 trucks that are being procured to assist in the sector,” the President said. (5:20 – 5:49).

He added that “it is my pleasure to unveil the initial 101 new waste management trucks and 25 disinfection trucks.”

In his speech, however, the Chief Executive of Jospong Group of Companies, operators of Zoomlion Ghana Limited, Joseph Siaw Agyepong, mentioned the commissioning of 500 trucks.

“Today we are here to commission and unveil 500 trucks…” he said (12: 53 – 13:00).

Our checks with other platforms showed that 101 waste management trucks and 25 disinfection trucks were unveiled.

The official website of the Presidency of Ghana, and according to a statement from the Communication Bureau, 101 waste management trucks and 25 disinfection trucks secured by Zoomlion Ghana Ltd were unveiled.

“The trucks, according to President Akufo-Addo, are going to be used to cart waste from our business districts and communities to landfill sites and waste treatment facilities and help in the ongoing disinfection exercises of spaces and institutions that have been rolled out since the onset of COVID-19,” the communication indicated.

We also checked the President’s personal verified Facebook account which confirmed the earlier statement that 101 waste management trucks and 25 disinfection trucks secured by Zoomlion Ghana Limited were unveiled. It, however, indicated further that “these are the first batch of five hundred (500) trucks that are being procured to assist in the sanitation sector.”

Meanwhile, the verified Twitter handle of the Ghana Presidency said the government had partnered ZoomlionLtd “to reinforce our waste collection system with 500 new modern trucks.”

Also, checks on the verified Facebook account of Zoomlion Ghana Limited stated that “A first batch of 500 trucks have been commissioned to continue our efforts in tackling waste management in the country.”

For the record, both the websites of the Ministry of Sanitation & Water Resources and Zoomlion Ghana at the time of fact-checking this claim had not posted any information on the event which took place a day ago.

Conclusion

With all the available facts we can sufficiently conclude that the President commissioned 101 waste trucks and 25 disinfection trucks. This brings the total trucks to 126. These are the first batch of 500 trucks procured by Zoomlion Ghana Limited through its partnership with the government of Ghana.

FA Cup Final: Foxes to give Chelsea the Blues?

May 14, 2021

Leicester City v Chelsea - Premier League - King Power Stadium — Chelsea's Hakim Ziyech and Leicester City's James Justin (left) during the Premier League match at the King Power Stadium, Leicester. Picture date: Tuesday January 19, 2021.

The world’s oldest knockout football competition, the FA Cup, will see Chelsea versus Leicester City meet at the iconic Wembley Stadium in London on the evening of Saturday 15 May 2021 live on the SuperSport Football on GOtv channel 131.

Chelsea, as eight-time winners of the FA Cup (most recently in 2018), will come into this clash with both the historical pedigree and the status as favourites, given the excellence they have shown across all competitions under manager Thomas Tuchel including the ousting of Manchester City in the semi-finals.

“We are very happy with the performance [in the FA Cup] and it will be a huge boost for our self-confidence and for our progression for our development because we arrived also with a young team and young players,” said Tuchel. “It’s important to have these experiences together and the most important now is to enjoy it today, let the players feel it.”

Leicester, meanwhile, has reached the FA Cup final for the first time in more than half a century and will be hoping to win the competition for the first time ever, having been runners-up no less than four times: 1949, 1961, 1963 and 1963.

“It’s amazing. The club has been waiting a long time to get to the final. I thought we deserved it,” said Foxes manager Brendan Rodgers. “It’s a massive achievement, but we have to be hungry and keep pushing. We’re embracing the challenge. It’s going to be a privilege to lead the team out in the final. I’m delighted for the players as they’ve shown that they’re constantly learning.”

Key players

Mason Mount – The Blues’ midfield dynamo has grown into a key figure this season, thriving both under former manager Frank Lampard and new boss Thomas Tuchel. The youngster’s passing range, energy and a keen eye for goal make him a threat through all phases of play.

Kelechi Iheanacho – The Nigerian has scored four goals in the FA Cup thus far, making him the co-top-scorer for 2020-21. Iheanacho has been in brilliant form since the turn of the year and could be the difference between Leicester suffering another cup disappointment or lifting the trophy for the first time.

Head-to-head stats

In head-to-head stats, Chelsea and Leicester have met in 118 matches across all competitions since the first clash back in 1905. The Blues have claimed 57 wins compared to 27 for the Foxes, while 34 games have been drawn.

The teams last met in the FA Cup last season, with Chelsea winning a quarterfinal clash 1-0 at the King Power Stadium in June 2020. Ross Barkley netted the decisive goal for the Blues, who went on to reach the final but lost to Arsenal.

Battles to watch

Thomas Tuchel v Brendan Rodgers – Both managers will be hunting their first major trophy in English football. Tuchel’s tactical approach, which is all about control and discipline, may see Rodgers adopt a counter-attacking set-up that plays to their speed and directness.

Thiago Silva v Jamie Vardy – Two veterans of the game will be set for a key battle which will go a long way in deciding this clash. If Vardy can use his pace and movement to drag Silva out of position, then the likes of James Maddison and Kelechi Iheanacho could benefit.

N’Golo Kante v James Maddison – Kante’s energy and enthusiasm are tough to get around, but Maddison has the intelligence both on and off the ball to find space and influence play, with Leicester hoping he can pull the strings in attack.

No rival can compete with SuperSport’s coverage as viewers on GOtv can see all their favourite stars from the African continent dominating FA Cup pitches across England. Don’t miss the 2020-21 football season on SuperSport on GOtv. Visit www.gotv.com to subscribe or upgrade, and join in on the excitement.

Match broadcast details

Saturday 15 May

4:30: Chelsea v Leicester City – LIVE on SuperSport Football

UBA’s REDTV to Premiere New Series, ‘Public Figure’ in Ghana on May 19th

May 14, 2021

United Bank for Africa’s Lifestyle and Entertainment channel, RED TV is set to premiere a 13-episode Ghanaian series on its YouTube channel on the 19^th May 2021.

The Public Figure series narrates the story of Wonder, a charming young lady, who quits the corporate life under pressure from a sexual pervert of a boss to pitch herself up to be in the celebrity space. It’s a whirlwind rise to the top for her through the corridors of power, literally, more than she ever bargains for.

It unravels a story of love, politics, power play and celebrity life as we go behind the scenes from hotel meeting rooms to illicit activities in bedrooms and secret presidential villas in a quest to know the mystery behind public figures.

In this same discovery, we will see one of our favourite Ghanaian actor, Van Vicker who has been off the movie scene for some years now bringing light to the Ghanaian movie industry.

Bubbly Actress and Presenter, Naa Ashorkor Mensah Doku also stars in this journey to unravel the controversial lifestyles of Public Figures.

Kuuku, the flirtatious lawyer next door wants more from Wonder than being her criminal brother’s lawyer and it doesn’t take long for Kuuku’s wife Frances to smell a rat. Frances isn’t the only one on Wonder’s heels. Yaw Dordor, a former office colleague at her old firm is still in love with her and bidding his time, but Wonder’s close association with a presidential candidate sets her up on the fast lane and soon she is on course to become the subject of a scandalous affair at the highest level.

REDTV is an initiative of the United Bank for Africa Plc. An online entertainment network on YouTube that brings the best of Africa to the world, REDTV is in line with UBA’s commitment to contributing to the growth of talent and innovation across the African continent. The network which was launched in 2015, has helped to foster the creative industry since its inception by providing employment to the youths in this segment.

The Public Figure is a 13 episode Ghanaian series shot in Ghana, produced and developed by a 100% Ghanaian cast and crew directed by the award-winning Eddie Sedor. Through the support for this series, UBA has contributed over US$100,000 to the Ghanaian creative art industry.

Council of State in support of efforts to ‘Green Ghana’

May 3, 2021

President-Nana-Addo-Dankwa-Akufo-Addo-receiving-documents-from-Nana-Otuo-Sriboe-Chairman-of-the-Council-of-State-at-the-Jubilee-House-in-Accra — President Nana-Addo-Dankwa-Akufo-Addo in a pose with Nana Otuo Siriboe II, Chairman of the Council of State

The members of the Council of State have said they are in support of efforts to stop illegal mining activities which have led to the pollution of several river bodies and contributing sharply to deforestation in the country.

The Council in a meeting with the Minister of Lands and Natural Resources, Samuel Abu Jinapor, indicated their routineness to step up advocacy, and also donations of seedlings and other resources towards the work being done by the Ministry.

This follows the Minister’s briefing of the Council on enhanced measures being taken including “Operation Clean River Bodies” and the “Greening of Ghana Project.”

The meeting, which took place as part of the fourth session of the Council of State focused on strategies for tackling the menace of galamsey and its destruction of the environment, notably forests, farmlands and water bodies.

In line with the work of the Council, it also met with Minister of Trade and Industry, Mr. Alan Kyeremanten, on steps taken by the Ministry to revitalize the local economy through trade and industrialization at the back of the devastating effect of the COVID-19 pandemic.

The Minister in his interactions with the Council touched on the opportunities among others presented by the African Continental Free Trade Area – AfCFTA to the country and the continent as a whole.

Key to the discussion with the Minister was the advice to intensifying engagements between industry and academia, towards aligning educational curricula to the demands of the industry.

In a meeting with the leadership of Parliament on many issues, the Council also emphasized the need for collaboration between the two bodies. This is believed would highlight the Council’s active involvement in the law-making process.

MTN Foundation donates to Effia Nkwanta Regional Hospital

April 12, 2021

MTN Ghana Foundation has presented face masks, coveralls, gloves, contactless thermometers, face shields and mentholated spirit to the Effia Nkwanta Regional Hospital at Sekondi to support the fight against COVID-19.

The Foundation has made similar donations to 29 hospitals across the country. In addition, MTN Group recently made a major move in the fight against COVID-19 by announcing that it is supporting the African Union with US$25million to procure COVID-19 vaccines.

This partnership will provide seven million doses of the COVID-19 vaccine for health workers across the continent, which will contribute to the vaccination initiative of the Africa Centres for Disease Control and Prevention (Africa CDC). “At MTN, we believed that we had a major role to play in this fight against COVID-19 right from the onset, and this continues to be paramount to us,” Prince Owusu Nyarko, Regional Senior Manager of MTN has said.

He said immediately COVID-19 was declared a global pandemic, MTN Ghana moved to put in place measures to help curb the spread of COVID-19 in its service centres across the country.

Additionally, he said MTN Foundation donated PPEs worth GH¢5million to the National COVID Trust Fund, and another donation of essential equipment to the Noguchi Memorial Institute for Medical Research to enable rapid testing and data processing.

Mr. Nyarko explained that MTN launched the ‘Wear it for me’ campaign to raise awareness about the importance of wearing face masks, and also donated over 85k KN 95 face masks to over 30 hospitals in all 16 regions.

He commended health workers across the country – especially those working at the Effia-Nkwanta Regional Hospital – for their dedication in the fight against COVID-19 in Ghana. “As tough as the circumstances have been, our health workers have been up to the task in the fight against this deadly virus. We say well-done,” he said.

“We continue to encourage all Ghanaians to comply strictly with all the safety protocols issued by local and global authorities in fighting this pandemic,” he advised.

GMABC designates April as the ‘Technology Month’

April 12, 2021

Global Media Alliance Broadcasting Company (GMABC), the parent company of media giants Happy FM, YFM and e.TV Ghana has set aside the month of April to celebrate technology and its advancements, especially in the era of COVID-19, as part of its themed month series.

As a responsible media house, the GMABC brand launched the themed month series in 2020 as part of efforts to educate listeners and provide value to its numerous clients. This year (2021), the brand dedicated January to the Fresh Start Campaign, February was the month of love and March, Cultural history month.

With the month of April dubbed ‘Technology Month’, the brand will create, educate and share exclusive content on technology and how Ghanaians, especially the youth can take advantage of it. The content which will be shared on the brand’s traditional and social media platforms will be done with the combined efforts of GMABC and Ghanaian technological giants, ShrinQ Limited and AUteledoctor.

Director of Broadcasting for GMABC, Timothy Karikari speaking at the launch of Technology Month shared that technology has changed the way of life of citizens of the world. He noted that people do not need to join long queues at taxi or bus terminals anymore but with the advent of ride-hailing apps, one can just order for a ride from the comfort of her or his home.

“Tech has influenced our lives and changed a lot of things from transportation to the media space and medicine. With technology becoming an integral part of our everyday life, we at GMABC have decided to delve into technology and how to apply and deal with it in our lives this April,” he stated.

The month-long activity will focus on weekly thematic areas. In week one, ‘Tech in Health and Education’ will be in focus. The various shows across the brand will look at the contribution of technology in disease research, healthcare administration and how it removes geographic boundaries to education.

The second week will focus on the sub-theme, ‘Fintech and Business Technology’. Here, listeners and viewers will be educated on the safe use of digital payment platforms, digital and cryptocurrency with a special focus on e-commerce.

With the youth being hooked to everything smart, the 3rd week will be dedicated to discussions on ‘Smart Homes & Devices’. The brand’s audiences will be taken through the processes of maximizing smartphones and how to take advantage of them to make ends meet, whilst also addressing issues of cyberbullying and security.

Saving the best for last, the brand will take a critical look at ‘Tech in Media and Transportation’ in the 4th week.

Founder and Director of ShrinQ Limited, Stephen Ameyaw speaking about the partnership described it as one of repute.

“COVID-19 has had serious implications on companies and they were forced to evolve by turning to technology and IT for business sustenance. But currently, the Kasoa killing has brought a lot of negatives to technology and now, we want to educate and shed a positive light on tech. That is why we decided to bond with a reputable company like GMABC to celebrate the tech month,” he shared.

The Chief Executive Officer (CEO) of AUteledoctor, Yaw Karikari who is also delighted to be part of the GMABC Technology Month indicated that with the incidence of the COVID-19 pandemic, healthcare delivery has seen a paradigm shift and they seek to create new healthcare delivery systems. “With this being our goal, we jumped at the idea to join the GMABC brand for its Technology month and use the platform to educate the Ghanaian public on the advancement of medicine on the back of technology.”

Companies who want to be a part of the GMABC Technology month through one form of sponsorship or the other to contact the team on 0202222095 for further enquiries. Visit www.yfmghana.com, www.happyghana.com, and www.etvghana.com for more details on the GMABC Technology Month.

Editorial: Plugging revenue leakage is achievable after all

April 12, 2021

A new digital system has enabled the Ghana Revenue Authority (GRA) to add more than GH¢1billion to the government’s revenue in just ten months of its implementation.

The platform is an end-to-end Electronic Metering Management System (EMMS) solution that gives real-time visibility and transparency to major stakeholders such as GRA and Customs.

The system monitors every litre of fuel that is imported into the country, and further monitors fuel that leaves the 16 currently operational storage sites – thereby virtually halting diversion of fuel and under-declaration of products.

Ever since the implementation of the system by Strategic Mobilisation Ghana Ltd. (SML) in June 2020, the volume of petroleum products it has recorded has increased by 752.4 million litres – which generated a tax component of more than GH¢1billion to the Ghana Revenue Authority (GRA) at the end of March 2021.

Managing Director of SML, Christian Tetteh Sottie, observed that there has been an issue of whether the country gets full returns from its petroleum products; hence, the concept was conceived to have an independent party monitor petroleum lifting and compare whatever data each party gives.

This must be pleasing to many since revenue shortage has been a consistent feature of the country’s economy. And the good aspect of this new digital system is, as Mr. Sottie stated, the company has the capacity to expand and improve the system to other sectors of the economy where revenue leakage has been a major challenge.

According to Sottie, given the robustness of the system, the government can exceed its revenue target for the year if it is replicated across other sectors. The government has targeted to raise some GH¢72.4billion in revenue for this year – after achieving the revised target for last year despite reduced economic activity stemming from the impact of the coronavirus pandemic on the economy.

With such a robust monitoring system in place, revenue targets can be met and even exceeded to the overall health of the economy. With such impressive results, we see no reason why the system cannot be replicated to other sectors of the economy to boost domestic revenue mobilisation.

If the country is able to meet most of its domestic revenue targets, achieving a ‘Ghana beyond Aid’ will not remain a pipe-dream.

Installation was started in 2020, and since they started monitoring the volumes growth has gone up compared to previous years.

Heavy IT investments paying off

Additionally, the country’s ports have made significant gains from automation, such as the Paperless Port Clearance Processes and implementation of the Integrated Customs Management System (ICUMS) – which has not only streamlined the activities of statutory agencies operating in the clearance chain but has also impacted the cost of doing business at the ports considerably.

According to the General Manager in charge of Marketing and Corporate Affairs at the Ghana Ports and Harbours Authority, Mrs. Esther Gyebi-Donkor, the process has increased automation at the ports and optimised the business process to the benefit of customers.

Processing time has also been reduced significantly. Also, falsification of documents has reduced through system integrations with other stakeholders, resulting in an increase in revenue.

The country’s ports saw a steady increase in its transit traffic of 1.5 million metric tonnes last year, compared to 1.3 million metric tonnes in 2019; while seeing a significant increase in its transhipment traffic of 602,778 metric tons in 2020 compared to 90,158 metric tonnes in 2019 despite COVID-19.

This is indicative of the strides Ghana’s ports have made toward becoming the preferred trade and logistics hub in the sub-region.

Mrs. Gyebi-Donkor disclosed that the paperless port project in particular – coupled with the general performance of Port Tema – has led to GPHA consistently chalking up many peer-review awards over recent years.

Indeed, the US$1.5billion Tema Port expansion and US$500m Takoradi Port expansion represent two milestone moments in the development of Ghana as an African trade & investment hub. The current infrastructure projects coupled with the launch of the Africa Continental Free Trade Agreement (AfCFTA) have accelerated Ghana’s journey toward building a truly globally competitive maritime hub.

Soon, Ghana will be able to accommodate the world’s largest container ships, and an efficient shipping and logistics sector is key to the ‘Ghana Beyond Aid’ goals set out by the government.

Ghana also acts as a trade gateway to landlocked neighbours such as Burkina Faso, Mali and Niger – a position that will be strengthened by upcoming infrastructure projects.

As the fourth industrial revolution continues to drive automation in supply chain networks, Ghana is well-positioned to remain up to speed with international best practices. This passion is driven by no less a personality than the Vice president, Alhaji Mahamudu Bawumia who has seen to it that the country continuously invests in its IT infrastructure.

Already, the benefits of such investments are driving growth in the economy.

AGI, UNIDO join forces to help cosmetic producers tap into US$380.2bn market

April 12, 2021

The Association of Ghana Industries (AGI) and United Nations Industrial Development Organisation (UNIDO) have introduced a digital market hub to help the domestic cosmetics industry become a major player in the US$1.26billion African beauty and personal care market and the over-US$380.2billion global market.

Globally, the cosmetics market garnered US$380.2billion in 2019 and is projected to reach US$463.5billion by 2027, manifesting an annual growth rate of 5.3 per cent from 2021 to 2027, according to Allied Market Research; and the digital hub, dubbed ‘Ghana Cosmetics Cluster’ platform, is to help domestic cosmetic products gain international exposure and become active participants in the global value chain.

“There is a big potential for Ghana’s cosmetics,” says AGI’s Chief Executive Officer, Seth Twum Akwaboah. “If you look at the value chain, there are a lot of cosmetic products that are using local materials; and if you are converting local raw materials into a finished product, you are helping the entire value chain’s development.”

He said the local industry holds so much promise because cocoa, shea butter, palm oil and cowpea, among others, are all raw materials that are readily available and at a cheaper price; and those local producers can become globally competitive if they are given the needed support to transform these materials into products which meet international standards.

He said the ability of domestic cosmetic producers to convert these local materials into finished products also comes with several benefits, including improved income for farmers and revenue for the state.

Ghana Cosmetics Cluster

The Ghana Cosmetics Cluster is a platform to support the industry establish clusters and networks to increase competitiveness. The initiative is under the West Africa Competitiveness Programme (WACOMP) funded by the European Union and implemented by the UNIDO in coordination with the Ministry of Trade and Industry and in partnership with the AGI.

The Ghana Cosmetics Cluster platform, designed and developed as part of the implementation activities of the WACOMP, will serve as a market hub for SMEs in the cosmetics sector.

“Some of the companies are already doing very well in terms of marketing their products in-country; and as an Association what we are doing is advocacy to help them improve and become competitive,” he said.

Beyond the cluster, he said, the Association is working with stakeholders including the government to create a conducive environment that enables producers to produce at a cheaper price in order to take advantage of opportunities within the Continental Free Trade Area (AfCFTA).

Cosmetics are among the products which enjoy duty-free status within the AfCFTA.

Ghana Card, TIN merger: GRA eyes significant increase in revenue as taxpayers quadruple in 2 years

April 6, 2021

The Commissioner-General’s visit to selected GRA offices within Accra to observe their preparedness for the use of the Ghana card Number as TIN for individuals which took effect from April 1, 2021. — The Commissioner-General’s visit to selected GRA offices within Accra to observe their preparedness for the use of the Ghana card Number as TIN for individuals which took effect from April 1, 2021

The Ghana Revenue Authority (GRA) has devised a strategy to translate the increased Tax Identification Numbers (TIN) into revenue in the short term, the Commissioner-General Ammishaddai Owusu-Amoah has told the B&FT.

According to him, the GRA is well aware that the growth in TIN which has been achieved as a result of deliberate government policies geared at expanding the tax net is not a guarantee that tax revenue will go up automatically.

He therefore added that there is a need for awareness creation and tax education before an action can be taken on the collection of taxes from these persons.

Data from the GRA has shown that as of 2019, registered taxpayers stood at 3 million from 1.5 million in the previous year. The number again increased to about 6 million at the end of 2020. The major initiative that quadrupled the figure since 2018 was the Coronavirus Alleviation Programme (CAP) Business Support Scheme, managed by the National Board for Small Scale Industries (NBSSI) now Ghana Enterprise Agency (GEA) which pushed Micro, Small, Medium Enterprises (MSMEs) to register for TIN before accessing the funds.

Increased taxpayers

According to the Commissioner General, as the TIN grows, the number of people who would be paying tax is expected to increase alongside, stating that the first step to increasing the tax revenue is to widen the tax net. He is optimistic that the growth in numbers would lead to significant growth in the number of people who pay tax.

“We are looking at a significant expansion but it will all not happen this year. We want to get the full data after the merger and we will start engaging the people and getting them to register. We are therefore planning a gradual growth in terms of the revenue over a period of time,” Mr. Owusu-Amoah told the paper after a visit to selected GRA offices within Accra to observe their preparedness for the use of the Ghana Card Number as TIN for individuals which took effect from April 1, 2021.

He further explained that there is a relationship between the number of the Ghana Cards that would become TIN and their eventual translation into revenue. But, he stressed that there is a lot of effort that is needed to ensure that the numbers are converted into revenues.

“The fact that you have registered somebody does not mean automatically the person is going to pay tax because you might have 50 million conversions and they are not paying tax so it is important for us to be able to identify them, identify the type of tax that they qualify for, engage them and to be able to get them to start filing and complying as well as being able to pay their taxes.”

2021 Revenue Target

Already, pressure is mounting on GRA to collect more revenue to support government operations. New and adjusted taxes have been announced in the 2021 budget as a measure to shore up government revenue. Government is planning to raise at least GH¢72.6 billion in revenues to execute its business this year.

Remarks on tour

The Commissioner-General expressed satisfaction after the visit to the selected GRA offices within Accra to observe their preparedness for the use of Ghana Card Number as TIN for individuals.

GRA, RGD and NIA collaboration

The Ghana Revenue Authority (GRA) and the Registrar-General’s Department (RGD) in collaboration with the National Identification Authority (NIA) have in a joint statement said that, effective April 1, 2021, the Ghana Card Personal Identification Number (Ghana Card PIN) has replaced the Taxpayer Identification Number (TIN) of individuals issued by the GRA for tax identification purposes.

This change is in line with Government’s policy on the use of a unique identifier for all transactions where the identification of an individual is required. To ensure a seamless roll-out of this initiative, the following measures have been instituted: registration officials of the National Identification Authority (NIA) are currently stationed at 14 GRA offices across the country to register individuals who do not possess a Ghana Card.

The registration officials will be at the following GRA/RGD offices: Registrar-General’s Department, Accra; Customs Long Room, Tema; Taxpayer Service Centres on the Spintex Road; Adabraka; Tema Community 1; Koforidua; Cape Coast; Takoradi; Asokwa; Sunyani; Ho; Bolgatanga; and Wa.

Registration officials of the NIA will eventually be stationed at 63 other GRA locations to serve all taxpayers. There will be a transition period from April 1, 2021 to December 31, 2021 where both the TIN and Ghana Card PIN may be used simultaneously as the unique number for tax identification purposes. After this period, it is expected that all existing TINs will be replaced with the Ghana Card PIN.

A Self-Service portal has been made available on the GRA website (www.gra.gov.gh) for existing taxpayers who have registered and have been issued with Ghana Card to link their Ghana Card PINs to their TIN. Any taxpayer with a Ghana Card must present it at any GRA office to be registered as a taxpayer.

It must be noted that, for transactions such as the filing of returns, payment of taxes, clearing of goods, registering of businesses, the Ghana Card PIN should be quoted on the documentation (Application Forms, Returns and Schedules) supporting the transactions.

Finance Minister gets access to GH¢129bn for 2021 budget

April 6, 2021

Issuer Default Rating — Photo: Ken Ofori Atta, Minister of Finance

…as Parliament passes Appropriation bill

Parliament has passed the Appropriation Bill, 2021 to give the Minister of Finance, Ken Ofori-Atta the authority to access and withdraw GH¢129 billion to run the economy for the 2021 financial year.

The Bill, which was passed on Tuesday, enables the Minister to access the funds which will be issued from the Consolidated Fund and other public funds for purposes of carrying out the services of government effectively and efficiently for the period.

The report of the Finance Committee on the Appropriation Bill, 2021 noted that departments and agencies shall be permitted to retain and use an amount of GH¢5,893,772,350 billion of Internally Generated Funds (IGFs) during the 2021 financial year.

The report also stated that, out of the total of GH¢129,032,804,201 estimated expenditure in 2021, GH¢80,869,525,482 billion would constitute payments of “other government obligations” whilst the rest would cover discretionary payments.

A total of GH¢30.3 billion will be used to service the compensation of public sector employees while GH¢25.6 billion will cater for wages and salaries.

The government has also allocated GH¢4.5 billion for COVID-19 related expenditures, with GH¢200 million allocated to COVID-19 Alleviation Programme (Electricity and Water), and GH¢929 million set aside for the procurement of COVID-19 vaccines (Operations and procurement).

The House also approved an allocation of GH¢597 million for the National COVID-19 Response and another GH¢1.4 billion to provide health infrastructure within the 2021 financial year, among other expenditures.

The passage of the bill comes following the House’s approval of various sums of budget estimates for ministries, departments and agencies.

Prior to the approval of the Appropriation Bill, the House approved GH¢45.5 million for the construction of 70 constituency offices for 70 Members of Parliament this year. The approval is aims at constructing 70 constituency offices per year over a four-year period.

The House had also earlier approved a number of budget estimate for the various ministries, departments and agencies for the for the implementation of some of the programmes of the Parliament for the 2021 financial year.

They included the approval of the sum of GH¢523.6 million for Parliament, GH¢854,062,706 for the Energy Ministry and GH¢2,102,103,946 for the Defence Ministry.

Prudence Foundation, Prudential Life & JA Ghana support GMW 2021 with Cha-Ching initiatives

March 29, 2021

Donation of Young Ruler Magazines and sanitizers made to Ringway Basic School during Global Money Week by Prudential Life and JA Ghana

Prudence Foundation, the community investment arm of Prudential in Asia and Africa; Prudential Life Insurance Ghana (Prudential Life), a leading insurer in the country; and JA Ghana, a member of JA Worldwide – one of the world’s largest global, non-profit organisations dedicated to empowering young people to own their economic success, have collaborated to support Global Money Week (GMW) 2021 as part of Prudential’s purpose of helping people get the most out of life by protecting and enhancing their health and financial well-being.

GMW is an annual global awareness-raising campaign on the importance of ensuring that young people, from an early age, are financially aware and gradually acquiring the knowledge, skills, attitude and behaviour necessary to make sound financial decisions, and ultimately achieve financial well-being and financial resilience. GWM 2021 took place from 22nd to 28th of March this year under the theme ‘Take care of yourself, take care of your money’, highlighting the importance of building financial resilience and staying healthy in these current times.

Marc Fancy, Executive Director of Prudence Foundation said: “GMW’s goals are in line with our ambition for Cha-Ching to help close the financial literacy gap across Asia and Africa, by providing practical and engaging tools and resources to children, parents and teachers. GWM’s official slogan ‘Learn. Save. Earn’. is also fully aligned with Cha-Ching’s mission to instil sound financial habits and foster financial responsibility in young children through the concepts of Earn, Save, Spend and Donate”.

Cha-Ching is an award-winning financial literacy programme developed by Prudence Foundation and created in partnership with the Cartoon Network – the leading children’s channel in Asia Pacific, and Dr. Alice Wilder, an expert in educational and child psychology. The programme has been adapted by JA into a Primary School curriculum and divided into six lesson plans for one hour each over a six-week period, and has been taught in Ghana over the last five years by volunteers from Prudential Life and JA Ghana – reaching over 20 schools and benefitting 2,500 students.

In 2020, Prudence Foundation launched ‘Cha-Ching Kid$ at Home’ – an e-learning version of the Cha-Ching programme via www.cha-ching.com – giving parents unlimited access to guides and daily challenges to help teach key money management concepts to their children at home amid the pandemic and social distancing measures.

Activities undertaken during the GMW celebrations included a TV interview, a social media campaign that provided daily tips on money management, and 30-second videos of young people speaking about money matters. Prudential Life, JA Ghana, the UK Ghana Chamber of Commerce and CAL Bank also collaborated to organise a webinar around the GMW theme. The webinar’s panellists discussed the importance of financial literacy among young people and the opportunities available for building financial resilience for families. In addition, Young Ruler Magazines – which feature Cha-Ching comics – were distributed to eight children’s libraries and 20 basic schools across the country.

Emmanuel Mokobi Aryee, CEO of Prudential Life Insurance Ghana said: “Low literacy levels coupled with the low savings culture in Ghana negatively impacts households, and ultimately national development. Prudential Life is passionate about improving the lives of young people through education, and is happy to have the Cha-Ching programme help with developing the right attitudes in young people toward money management”.

Abeiku Greene, Executive Director of JA Ghana said: “The need for financial literacy, career counselling and job-readiness training transcends political, geographic and socio-economic barriers. Our partnership with Prudence Foundation and Prudential Life ensures that the Cha-Ching experience provides students with early exposure to skills needed to make wise financial choices in their day-to-day lives and in the future. JA Ghana believes that in order for children to grow up to be financially responsible adults, they need early financially literacy. ”

Donation of Young Ruler Magazines and sanitizers made to Ringway Basic School during Global Money Week by Prudential Life and JA Ghana

VRA marks 60th anniversary with humanitarian mission

March 29, 2021

The Volta River Authority (VRA), as part of activities to mark its 60th anniversary celebration, has embarked on a humanitarian mission of donating items to communities where it operates in the Eastern Region – using drone technology.

The items donated to about 30 schools include branded school bags, exercise books, math sets, pens, pencils, water-bottles and stationery; as well as COVID-19 personal protective equipment such as nose masks, Veronica buckets and hand sanitisers.

According to the Authority, the objective for this exercise is to ensure that every child in the classroom is equipped with the fundamental tools required to thrive, and also to support families and schools in the provision of such items.

Chief Executive Officer-VRA, Emmanuel Antwi-Darkwa, speaking at a presentation ceremony held at Nkwakubew-Asuogyaman district indicated that 16,000 schoolchildren from 30 schools in the selected communities are to benefit from this community support initiative.

He emphasised that the Authority deems it important to share a special day with its beautiful and talented young school children who hold the key to the future of our great nation, Ghana.

“COVID-19 has taught us that science and technology is the way to go, and that is why we have adopted the use of drone technology in the distribution of materials to the various communities; and along the way teach the children that technology is the new normal and they have to learn how to use it.

“Today, the COVID-19 pandemic has seriously affected the traditional way of learning and the entire academic calendar. Clearly, we are not in normal times – and so let us all, children and adults, adhere strictly to the health and safety protocols that we have all been advised to follow,” he said.

He also urged the students present to continue wearing their face masks, regularly wash their hands with soap under running water, use hand sanitisers where there is no running water, cover the mouth when coughing, avoid handshaking – and also remember to observe social distancing.

The DCE of Asuogyaman, Samuel Kwame Agyekum, accepting the items on behalf of the district expressed his heartfelt gratitude to the Authority for the support it has given to resettlement communities in the district over the years, especially in the education sector.

“This activity is very important to the district, because the need to invest in the future of our children who are the future of the nation cannot be overemphasised. You will all agree with me that government’s decision to make education affordable and accessible to every school-age child is very appropriate; and that is why government is putting in place the right policies and strategies to improve the quality of education in the country – but stakeholder participation approaches like we witnessed today are critical to complement what government is doing,” he said.

He further urged VRA to keep up the good work in providing excellent service for six decades, adding that he is very optimistic that the celebration of this 60th anniversary will reposition the authority to achieve greater heights with innovative and improved services in the ever-changing technological world.

Editorial: Burden-sharing does not exclude anyone!

March 23, 2021

In order to reinforce the idea of burden-sharing in these crucial economic times that the country finds itself, the executive arm of government is seriously contemplating either stagnating or cutting down on its wages, as a means to show leadership and rally all Ghanaians along the path of economic revitalization.

Leadership by example is always an effective way to carry along the masses, and it comes as no surprise that President Akufo-Addo and his cabinet are considering ‘biting the bullet’ in solidarity with the generality of the Ghanaian population who have been inundated with taxes in the 2021 budget statement in a bid to revive the ailing economy.

The Finance Minister-designate, Ken Ofori-Atta has noted that the main motive behind the introduction of new and adjustment taxes is to ensure that a collective effort is adopted in fighting the impact of COVID-19 on the economy.

Therefore, it would be appropriate to see what sacrifices the executive arm of government is prepared to make in ensuring a collective effort is adopted in revitalizing the economy.

Although Ghanaians are already lamenting the impact that such levies would have on their already depleted disposal income, seeing the executive arm of government take some of the pinch will send the right signal to the broad mass of Ghanaians that we are in this together.

While at it, we hope the measures would be convincing enough for the broad mass of the population to appreciate the commitment of the executive in this regard. Mere tokenism might infuriate them even more so it has to be something significant.

Recovery from the impact of COVID-19 is one of the most pressing and topical issues across the world. Tourism, hospitality and transportation sectors were the hardest hit sue to travel restrictions while the other sectors of the economy all experienced slow-downs.

It, therefore, comes as little surprise that the statement is geared towards economic revitalization. Building back better has now become a catch-phrase for more resilience and is on the lips of government officials around the globe.

Ghana is doing its bit to ensure the economy bounces back to life.

Editorial: Broadening pension contributions crucial to accruing investment capital

March 23, 2021

The National Pensions Regulatory Authority (NPRA) is worried that unless there is an increase in the number of active working Ghanaians contributing towards retirement, demand for public sponsored social interventions could rise in the coming years.

Government allocates around GH¢270 million to the Livelihood Empowerment Against Poverty (LEAP) programme yearly, while GH¢1.7 billion was allocated to the National Health Insurance Scheme (NHIS) in 2019.

Apart from these, programmes such as the Ghana School Feeding Programme (GSFP), the Capitation Grant and the Labour Intensive Public Works (LIPW) programme consume a significant amount of public funds.

The Authority worries that financial commitments to these programmes would increase substantially in the coming years if steps are not taken to increase pension coverage. This is highlighted by the fact that of the country’s 11 million active labour force, 7.7 million, representing 70 per cent, are non-active pension contributors.

The high number of non-pension contributors is driven by the informal sector, where only three per cent of the sector’s 7.9 million active workers are without any formal social security protection, according to data from NPRA’s 2019 report.

Consequently, the Authority warns that the situation could increase the government’s expenditure on social interventions programmes like the LEAP etc.

NPRA’s Chief Executive Officer, Hayford Atta Krufi puts it succinctly when he argues: “These people would depend on the government and benevolence of others to have their daily meal. The government would have to them put on Livelihood Empowerment Against Poverty and other social intervention programmes for support. This will increase government expenditure which could have been avoided if they had contributed to a pension scheme”!

He believes the country is losing a huge source of investment capital in the form of pension contributions that could’ve been gathered from the contributions of the informal sector workers which in turn could have been used for long term investment projects.

Mr. Atta Krufi notes that developed countries have reached where they are because they developed their pension sector such that they were able to accumulate funds for other developmental projects.

“Essentially pension funds are described as a cheap source of long-term funds that can be borrowed for long developmental projects”, he maintains.

In a country where the majority of the labour force are not on any form of pension system speaks of how bleak the future is, the NPRA’s Chief Executive Officer added.

Indeed, the NPRA has to really step up its tentacles to cover workers in the informal economy because not only is it part of their mandate but the fact that there are many in the informal economy who earn decent incomes.

Discovery Teen Magazine engages young people to address adolescence muddle

March 23, 2021

Teen magezine — Some of the participants at the teen engagement

The Discovery Teen Magazine led by Mercy Catherine Adjabeng (Mrs.); the Editor-in-Chief of the magazine has organized its maiden programme for teenagers with the theme ‘Discovery Teen Chat’.

According to Mrs. Adjabeng, Discovery Teen Magazine seeks to address issues confronting teenagers like challenges they face at their teen stage.

She added that the Discovery Teen Chat is also a platform for teenagers to freely ask questions bothering them in their daily life.

Addressing issues of peer pressure Dr. Sampson Asala— a general practitioner at Medifem Hospital said teens can avoid peer pressure by surrounding themselves with good friends and building confidence in themselves.

Speaking to the B&FT in an interview Dr. Asala said the engagement with the adolescents was to help them to overcome the pressures of adolescence from social media and deal with the pressures to be involved in sex and relationship.

“It was an engagement with our teens, to help them discover how they can deal with the pressures of adolescence where they are bombarded with so much from social media and added with the teenage pressure, the pressure to be involved in sex and relationships,” he said.

He said the take-home point really was for the teenagers to understand their weaknesses to help them overcome peer pressure.

“Teens need a lot of help because it’s a transition period, and some mistakes can be made like teenage pregnancy, teen suicide, academic fall out that can affect them for the rest of their lives so the main aim is to help them at this stage,” he said.

Mrs. Adjabeng was hopeful the magazine will help young people by reshaping their mindset on issues that affect teenagers.

“This is the maiden edition and we intend to take the content of the discovery Teen Magazine out which is teaching adolescence how to handle their challenges, and we can not handle it if we don’t discuss it” she stated.

She added that it is important to build them up to enable them to make informed choices.

“We need to build them up so that they can make informed choices because this time of their development is very crucial. If we get it wrong, we will have serious problems later on,” Mrs. Adjabeng said.

Impact of COVID-19 on value chain of asset management firms and operating in the new normal

March 23, 2021

Economies, firms, and societies across the world have been grappling with the COVID-19 pandemic and its implications. The pandemic has brought to the fore the interconnectedness of economics, technology and health and its impact on the world we live in. There were supply chain disruptions owing to factory shutdowns, empty shelves in supermarkets, strict travel restrictions and national border closures among others (Accenture, 2020).

According to the World Bank’s June 2020 Global Economic Prospects, the immediate and near-term outlook for the impact of the pandemic and the consequential long-term damage affected the prospects of global economic growth.

The anticipation of economic contraction in 2020 turned out better than expected as the global economy grew by 3.5 per cent in 2020 against a projected global growth of -4.9% by the IMF. This partly owes to China’s impressive economic recovery following its commendable handling of the Covid-19 pandemic.

Surprisingly, the witnessed global growth in 2020 exceeded the growth of 2.9 per cent in 2019 despite the economic effects of the Covid-19 pandemic. In addition, Global economic contraction was lower than projected on account of the massive policy support by governments worldwide, through a record increase in their quantitative easing programmes.

The pandemic has hit almost every aspect of economies and Asset Management firms are not exempted calling for the need to reprioritize and reorganize operating models in order to thrive. Can Asset Management companies still deliver value to their clients in the midst of these unprecedented headwinds associated with the pandemic by generating sustainable risk-adjusted returns consistent with Client objectives?

An Asset Management structure consists of the front office, which focuses on portfolio management and client acquisition, the back office which comprises of trade operations, information technology, accounts and a middle office for very large firms, which focuses on compliance, internal control and internal audit. Of course, for small firms, an individual may be assigned to perform the functions of the middle office.

There could also be variants to the structure depending on the focus of business owners. However, I will hasten to add that in as much as these structures may be in place, teams should be encouraged to break silos with a focus on collaborating to deliver value to the customer whilst at the same time ensuring internal and external regulatory limits are adhered to.

We will take a critical look at Porter’s value chain in tandem with the value-creating activities of an Asset Management firm as we seek to address why some firms through some competitive advantage have better profit margins than others. Michael Porter identified the activities involved in the direct creation of a product or delivery of a service as primary activities and activities that support the primary activities as secondary activities. The primary activities focus on taking inputs and converting them into outputs and accompanying outcomes.

When a company is efficient in combining these activities to provide a superior product or service, then the client is willing to pay more for the product or service than the cost incurred to make and deliver the product or service, which results in a profit margin.

For an Asset Management firm, the primary activities are described below:

Portfolio Management is tasked with making investment decisions underpinned by solid research.
Trade Operations is tasked with ensuring the investments are in line with the guidelines set forth by the client and the trades are executed in a timely manner.
Marketing and Sales is responsible for client acquisition
Service (Client Relationship Management) is responsible for providing all the touchpoints to the client to access products and services

Secondary activities of an Asset Management firm are as below:

Technology designs a trading and client module that is efficient and effectively allows the team to provide the highest level of service and make the best investment decisions.
Human Resources finds and retains the highest level of talent at the firm.
Infrastructure includes the lawyers and risk controllers whose oversight is crucial to ensuring the client’s guidelines are followed, the investment risk is controlled, and the firm is operating within the regulations established by the regulator.

How has the pandemic impacted the above-mentioned activities?

Financial Markets

Heightened uncertainty and panic initially associated with the pandemic resulted in a drop in consumption and investment. This has severely affected financial markets across the globe leading to stressed corporate credit markets and declining stock values. The impact of the pandemic has driven market volatility and to some extent affected asset valuations (Deloitte, 2020).

The growth in assets under management (AUM) was expected to be subdued leading to low revenue growth but that was not the case in Ghana as some Asset Management firms in Ghana rather saw positive growth in their AUMs on account of the government stepping in to pay customers of collapsed Financial Institutions. Portfolio management teams are proactively using forward-looking research to review and actively rebalance portfolios to increase yields and contribute positively to Asset Under Management (AUM).

Liquidity

The disruption as a result of the pandemic has globally affected the operations of businesses of various sectors of the economy. Due to low economic activity owing to restrictions and partial/full lockdowns at the height of the pandemic especially in 2020, companies addressed cash flow issues by either drawing on their cash reserves or surpluses to survive.

This had implications for portfolio style, structure and strategy of Asset Management companies where companies were bound to create that healthy balance between investing in long term assets to increase portfolio yields and short term assets to make funds available to meet liquidity needs.

Social distancing and movement restriction protocols

The approach to Client meetings has changed replacing face-to-face meetings with digital engagements to discuss new business opportunities. New technologies such as Zoom, WhatsApp Video, Facebook Video, FaceTime, Microsoft Meeting, among others, have replaced the need for face to face meetings. It is less pronounced with wholesale Asset Management where key clients can easily be digitally engaged with minimal impediments. On the retail Asset Management side, market storms and meetings with various groups to sell products or service have been restricted.

Trade operations

Trade operations, the engine of Asset Management, has also been affected. Firms that have been proactive are investing in IT tools to serve clients faster, better and safer and still not need to meet them face to face. The failure to serve clients during such critical periods can lead to potential loss of business which will further exacerbate the situation.

Firms need to ensure that trades are executed in a timely manner to avoid loss in value of portfolios or opportunities to ensure that portfolio decisions, which could have hitherto generated value for funds, are not missed.

The strain on IT infrastructure and accompanying cybersecurity risks

The sudden change in operating model where some staff have to work from home means provision of IT infrastructure to accommodate this new arrangement with the potential increase in cybersecurity vulnerabilities which could be technical or procedural in nature (CGMA Cybersecurity Tool, 2017). The former could be software defects or failure to use adequate security protection such as encryptions and the latter being system configuration errors or not performing security updates.

The impact of the crystallization of these risks can lead to loss of business resulting in declining revenue, missed opportunities or the possibility of legal suits for not fulfilling agreed obligations.

New Workforce Structure

Staff are one of the key assets in delivering value to the customer. They are at the heart of generating business, account management, portfolio management, and trade execution amongst others. The effect of the pandemic has necessitated the need to run different work models with the introduction of running different workstreams to decongest offices in order to fulfil social distancing protocols. Firms are training their staff on IT-related courses to stay abreast with modern trends and familiarize themselves with new working tools.

Some of the short-term measures taken by firms in dealing with the effects of the pandemic

Humanitarian

Firms were concerned with the health and safety of staff. There was information to raise awareness and encourage preventive behavior and intensify personal hygiene habits. Client meetings were conducted via videoconferencing using apps like Microsoft Teams, Zoom, Google Meets, etc.

Business Continuity

Firms had to activate their business continuity plans to ensure that there is no or less interruption to business. The use of a new work structure incorporated working remotely and decongestion of the workspace through a shift system to minimize the impact on productivity was also deployed by some firms. Where staff were required to work in office spaces, social distancing protocols were strictly adhered to.

Financial

There was also a focus on the cash flow to ensure that firms continue to operate sustainably. The Investment in CAPEX for some projects that were not critical were put on hold and the rebalancing of portfolios to address liquidity and credit quality issues in response to information on financial markets.

Operations

Firms had to review and enforce all service level agreements with third parties to avoid disruptions to service delivery. Firms also conducted engagements with key stakeholders like pension fund trustees and custodians to ensure the proper synchronization of all activities involved in the execution of clients’ mandates. If there were differences, they were quickly resolved to ensure excellent service delivery.

Medium-to long-term measures needed to operate in the New Normal

Apart from the short-term measures stated above, there is the need to undertake medium-to-long-term planning to ensure that if such uncertainties occur in the future, firms will be better prepared to address any disruptions.

Broadly speaking, firms should focus on key areas that create and sustain value. Notably among them are crafting of strategy and its execution, innovation, managing risk and uncertainty and ensuring compliance. A healthy balance of the above areas as discussed below will ensure business sustainability.

Strategy

With some companies experiencing stunted growth with the possibility of haemorrhaging cash during such times, there are calls for the review of strategies to navigate through the uncertainties due to the impact of the pandemic.

The strategy should clearly define key target markets and channels to access them and the value proposition that distinguishes firms from their competitors. Additionally, there is a need to consider key partners and internal processes required to deliver value to clients. The strategy should align with business goals and the direction or happenings on the market. One should also not lose sight of enabling pillars like IT infrastructure, human capital and finance that are needed to support productivity, revenue and cash generation.

Innovation

By innovation, we mean doing new things or old things differently. The firm should consider redesigning new processes, introducing new products, new technologies or new business models. The pandemic has created opportunities for businesses to reinvent ways of serving the customer. Firms are to invest in the right IT tools to serve clients better.

An example is the use of Robotic Process Automation (RPA) where there is focus on eliminating repetitive activities in the client or investment cycles to bring onboard efficiency. Investment platforms like Robo-advisors can also be considered for sophisticated investors to invest online to improve the topline.

Risk Management

A more proactive approach should be adopted for risk management rather than just ticking boxes on a grid by risk managers. There should be clear segregation between rewarded risks, which is characterized by changes in portfolio value; for example, market and liquidity risks and unrewarded risks (e.g. credit risk and compliance) which are strictly characterized by loss. There is a need for a deliberate effort to balance returns and risk to ensure optimality.

Additionally, COVID-19 has taught us the need to incorporate the management of uncertainty in our risk management framework. Scenario planning and stress tests should be conducted periodically to access the impact of business, economic and health-related factors on the operations of the business.

Compliance

The issue of internal and external compliance is paramount since failure to meet requirements could result in loss of business or the license to operate. Clearly, in such times, a register of all client and statutory requirements should be kept and religiously followed to avoid an infraction, which could lead to the payment of penalties and put a strain on the cash flow. The systems for reporting on compliance issues should be open to changes since the impact of COVID-19 could trigger possible regulatory changes on portfolio valuation, exposures, risk assessment, investment strategies and business continuity plans, amongst others.

Conclusion

It is clear that the impact of COVID-19 on economies and businesses is still unfolding. Although it has impacted how Asset Management firms create value for clients, it also presents opportunities for firms that are agile and ready to adapt to these changes. Firms should improve on their business continuity plans to make them better prepared for such a crisis in the future and additionally embrace digitization by investing in new IT capabilities to position themselves to address the changing needs of clients.

DISCLAIMER:

The views expressed in this article are solely that of the writer and does not necessarily represent that of the Institution he works for.

>>>Akwasi Adu Boahene (FCMA, CGMA, MSc., MBA, BSc) is an investment banker with over 14years of experience in fund management. ([email protected], 0276902032)

Gov’t settles almost 90% of Ameri Power debt

March 23, 2021

The government has settled almost 90 per cent of the total cost of the 250 Megawatts Ameri power plant procured from UAE-based Africa & Middle East Resources Investment Group.

The Ameri power plant was procured in 2015 by the previous administration when the West African nation was experiencing an erratic power supply due to a shortfall in electricity generation.

The plant cost US$510 million and it was to be managed by its owners for a period of five years and transferred to the Government of Ghana under the Build Own Operate and Transfer (BOOT) agreement.

The Ameri deal was one of the numbers of power deals signed under the past administration which generated public anger with the then opposition New Patriotic Party accusing that administration of ripping off the nation.

Speaking to energynewsafrica.com, a source at the Ministry of Energy disclosed that a little over US$447 million out of the total figure of US$ $510 million has been paid, representing about 87 per cent as of November 2020.

“Government is paying and as we speak, we have written to the Finance Ministry to pay three months of the remaining debt which was deferred to be paid later,” the source said.

Per a document sighted by energynewsafrica.com which details the payment plan, Ameri has indicated its willingness to waive over US$2 million of the cost if the government settles the remaining amount on time.

The source told energynewsafrica.com that Ameri power plant has been shut down because the five years’ period was due in January this year.

According to the source, an independent engineer has been appointed and is currently assessing the condition of the plant after which the plant would be transferred to the Government of Ghana.

The source said the Government of Ghana would bear half of the cost of the assessment while owners of the power plant would bear the remaining cost.

The Government of Ghana has hinted of plans to relocate the Ameri plant from its current location in Aboadze to Kumasi in the Ashanti Region in a bid to stabilise the country’s national grid.

Low pension coverage could increase gov’t spending on social interventions – NPRA

March 23, 2021

Demand for public sponsored social interventions could rise in the coming years if nothing is done to increase the number of active working Ghanaians contributing towards retirement, the National Pensions Regulatory Authority (NPRA), has said.

It is estimated that the government would need to allocate around GH¢270 million to the Livelihood Empowerment Against Poverty (LEAP) programme yearly, while GH¢1.7 billion was allocated to the National Health Insurance Scheme (NHIS) in 2019. Apart from these, programmes such as the Ghana School Feeding Programme (GSFP), the Capitation Grant and the Labour Intensive Public Works (LIPW) programme consume a significant amount of public funds.

The Authority is therefore worried that financial commitments to these programmes could increase substantially in the coming years if steps are not taking to increase pension coverage.

This is because, of the country’s 11 million active labour force, 7.7 million, representing 70 per cent are non-active pension contributors, a situation the sector’s regulator, warns could increase the government’s expenditure on social interventions programmes like the LEAP, which provide cash transfers to the very poor, particularly the aged and erode gains made towards reducing old-age poverty.

“These people would depend on the government and benevolence of others to have their daily meal. The government would have to them put on Livelihood Empowerment Against Poverty and other social intervention programmes for support. This will increase government expenditure which could have been avoided if they had contributed to a pension scheme,” NPRA’s Chief Executive Officer, Hayford Atta Krufi, told the B&FT.

He added: “As a country, we are losing a huge source of investment capital in the form of pension contributions that will be gathered from the contributions of the informal sector workers. This can be used for long term investment projects which have the potential of aiding our development.

Many developed countries have reached where they are because they developed their pension sector such that they were able to accumulate funds for developmental projects. Essentially pension funds are described as a cheap source of long-term funds that can be borrowed for long developmental projects.”

For the individuals, he said the implication is very dire because they will not have any regular source of income to rely on for their upkeep.

Although the Authority said it believes the majority of people working in the informal sector might be earning good income today, but because of the wrong perception about pension, they are unwilling to contribute to a pension scheme for their future income security.

“It is part of our mandate as an Authority to help and encourage people in the informal sector to be on pension schemes so they can also retire on pensions as their colleagues in the formal sector.

The Authority is therefore very much concern about these figures. In a country where the majority of our labour force is not on any form of pension system speaks of how bleak our future is. It is very worrying to see these huge numbers of Ghanaians not having any source of regular income in their old age to enable them to have a decent life.”

Sinking, Contingency funds’ US$33.34m overdue revenue still in limbo

March 23, 2021

The country’s Sinking and Contingency Funds have both been denied their overdue revenue to the tune of US$33.34 million, for the year-end December 2020, as mandated by law.

The two funds take their revenue source from the Petroleum Holding Fund (PHF) in which the underlying law places a cap of US$100 million on the Ghana Stabilization Fund (GSF), indicating that after the target is reached, every subsequent revenue should be transferred to either of these two funds.

However, the excess funds for the year-end December 2020, were not transferred, according to a report by the Public Interest and Accountability Committee (PIAC), the body mandated by law under section 51 of the Petroleum Revenue Management Act (PRMA Act 815), to serve as an oversight entity over the Petroleum Holding Fund (PHF).

“At the end of the period, an amount of US$33.34 million, being the excess over the cap of US$100 million placed on the Ghana Stabilization Fund (GSF) was not transferred into the sinking and/or contingency funds as required by law,” the report said.

Unfortunately, the Ministry of Finance did not give any tangible reason for the non-transfer of the cash, though it indicated that that the cash is available and have not been used for any other purposes.

The Ghana Petroleum Holding Fund, established by the Petroleum Revenue Management Act, 2011 (Act 815) is to receive all petroleum revenues that accrue to the State, from which further disbursements are then made.

For the period, the Fund received a total amount of US$235.3 million from lifting proceeds. Other revenue streams including Corporate Income Tax, Surface Rentals, and interest earned on the balance of the PHF amounted to US$74.9 million.

An October 2019 receipt of US$12.6 million was distributed in the period, bringing the total amount available for distribution in the PHF to US$322.7 million. However, the total amount distributed from the PHF for the first half of 2020, according to the Bank of Ghana, was US$322.6 million, leaving a balance of US$112.3 million.

The report further indicated that total petroleum funds distributed since inception till end of June 2020 was US$5.32 billion, of which approximately 39 per cent went to the Annual Budget Funding Amount (ABFA), 31 per cent to Ghana National Petroleum Corporation (GNPC), 21 per cent to Ghana Stabilization Fund (GSF) and nine per cent of the Ghana Heritage Fund (GHF).

This suggests that about 91 per cent of the petroleum revenue is available for spending by the current generation.

GTA upgrades tourist sites in Upper West to attract investors, tourists

March 23, 2021

4172_PalaceoftheWaNaa1 — The Wa Na’s Palace

The Upper West Regional office of the Ghana Tourism Authority (GTA) is committed to project and promote the various tourism sites and hospitality industries to attract more investors and tourists to the region.

In view of that, it has commenced rehabilitation of the known and unknown tourism sites, building capacity training for the tour guide operators, construction of receptive centers at vantage points as well collaborating with the urban roads authority to see if the road networks leading to the tourism sites could be tarred to curb the stress tourists go through in accessing the sites.

The rehabilitation exercise is to help beautify the various tourism sites to bring development while the hospitality sector such as the hotels, drinking bars and restaurants also enhance their facilities to meet the required standards.

According to management, the region has lots of tourism potentials that needed to be developed to look attractive but the challenge is the resource to embark on the exercise.

Moses Ndebugri, Upper West Regional Manager for GTA, speaking to the B&FT in his office in Wa said, there is the need for the investment to help protect the cultural heritage of the country, noting that the rehabilitation of the sites would go a long way to enhance development in the region and help create job opportunities for the youth.

He stressed that Gbelle Game Reserve, located 17km south of Tumu, is an important sanctuary for endangered species of wildlife, as well as hippos, elephants and bucks. Birdwatchers consider this an important habitat for indigenous and migratory birds.

Although a great deal of development is taking place in these regions, access to outlying areas can be difficult at certain times of the year and during and after heavy rains, he said. “Tourists’ sites in this part of Ghana are not well-developed and roads leading to the few tourists’ sites are also not accessible making it difficult for tourists to get to their destinations.”

On accommodation issues

He said though accommodation facilities at many tourists’ sites are not available, citing the Wechiau Community Hippo Sanctuary as an example, he added that accommodation within the regional capital is increasing with new ones established to facilitate the activities of tourists and investors.

Tourism development

To enhance tourism development in the region, he said a Tourism Development Committee (TDC) has been established to manage the various sites, help keep proper records of the sites as well as assists the assemblies to provide the needed infrastructure to boost tourism activities in the region.

COVID-19

Since the outbreak of COVID-19, which has seen the introduction of safety protocol, Mr. Ndebugri stressed that management has not relented in its effort to ensure that all comply with the protocols. According to him, management, through the head office, provided Personal Protective Equipment (PPE) to the various hospitality operators in the region.

He added that a sensitization exercise has since been taken place thereby educating operators and the public on the need for precautionary measures to help curb the spread of the virus.

Networks issues

He said, while management making efforts to engage telecom operators on the need to enhance network services at the various sites, efforts are also being made to ensure the communities get permanent phone and sim cards that can help effective communication with tourists and business entities.

Way forward

He added that management is in talks with the road and highways unit to help address the road network issues hindering development at the various tourism sites and also with the traditional authorities to help safeguard the cultural heritage of the region.

He stressed that the opening of the Wa airport would also go a long way to boost tourism-related activities in the region. “We want to use tourism as a catalyst to bring development to the doorsteps of the host communities. So if one has an attraction and would pull tourists to the sites, there is the need for accessibility to the site.”

ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce

March 19, 2021

Kojo Mattah, Managing Director of ARB Apex Bank receiving the certificate from Pearl Delali Doledzi, while Isaac Vanderpuije, Founder of the Chamber (2nd from right) and Oswald Anonadaga, CEO of Floodgate Limited (extreme right) looks on admirably

ARB Apex Bank has been admitted to the Ghana-Sweden Chamber of Commerce at a colourful ceremony in Accra.

Pearl Delali Dorledzi, President of the Ghana-Sweden Chamber of Commerce (GSCC) who led a delegation to present the certificate of membership revealed that “ARB Apex Bank has been admitted to the Platinum membership, which confers the highest partnership privileges on the Bank and the Rural and Community Banks (RCBs) in Ghana.”

Madam Dorledzi revealed that “the Chamber is excited to partner with ARB Apex Bank and RCBs in Ghana to bring the needed interventions in the rural areas.”

She added that “key areas of our partnership interventions include, “women empowerment, capacity building and training, and we are happy to help bring the needed support especially because of the wide network of branches of the banks.”

GSCC is a non-profit umbrella organisation that promotes bilateral relationships in Business, Trade, Technology and Innovation, Education, Sports, Culture, etc., between Ghanaian and Swedish businesses. Businesses and individuals are required to be members of the organisation before such bilateral partnerships are promoted.

Benefits to banks

Kojo Mattah, Managing Director of ARB Apex Bank who received the certificate on behalf of the Bank stressed that “we shall ensure membership of the Chamber benefits our member banks.”

He indicated that through initial engagements which led to “our admission to the Chamber, the Bank has started reaping some benefits as a member of the Chamber, an Information Communications Technology Solutions firm, has already has offered to provide a Cybersecurity solution to the Bank at a highly subsidised cost.”

This solution would support the Bank to ensure confidentiality and integrity of transactions performed on its electronic platforms as part of the Bank of Ghana’s Cyber and Information Security Directive.

The COVR Security solution was provided by the Swiss-based company as part of their Corporate Social Responsibility in recognition of the role ARB Apex Bank plays in serving the RCBs in driving the financial inclusion agenda of the government in the deprived areas of the country.

COVR Security is a Swedish Technology Company that provides mobile multi-customer authentication for Banks, Payment Network, and Credit Card Companies throughout the world. They are represented in Ghana by Floodgate Limited.

They are hoping to use their partnership with ARB Apex Bank and the RCBs in Ghana as a springboard into other countries in the West African sub-Region.

Coronavirus pandemic: The impact on future of businesses

March 16, 2021

…the untold stories of three Ghanaian businesses

Emerging news, now and then, on the development of new vaccines to fight the coronavirus (COVID-19) pandemic has been one of the exciting new things to look forward to daily. But despite the development of new vaccines, many are still wondering what a post-COVID-19 situation would look like.

Generally, the outbreak of COVID-19 has adversely affected almost every aspect of the economy, especially health; and the outbreak has brought impossible strain on health infrastructure.

The impact on businesses has undeniably had far-reaching consequences, and businesses in Ghana have been affected.

The International Monetary Fund (IMF), in a report on Ghana’s ‘Request for Disbursement Under the Rapid Credit Facility, projected that the impact of COVID-19 on the local economy will be severe.

“The economic shock initially materialised through trade disruptions with China, the decline in commodity prices, and tightening of financial conditions even before the first confirmed case on March 12,” the IMF report said.

The disruptions caused by the pandemic, for instance in 2020, led to huge revenue losses – including a shortfall in non-oil tax revenue of about GH¢2.2billion. It also led to a revision of the country’s GDP growth from a target of 6.8 per cent to 1.9 per cent for the year. The total fiscal impact from revenue shortfall and cost of preparedness and funding a response plan also cost Ghana about GH¢9.5billion, according to an analysis by the IMF, United Nations Economic Commission for Africa (UNECA), the government of Ghana, and Deloitte.

Quite significantly, given that businesses thrive under a sound economic environment, the economic downturn as a result of the pandemic created a ripple-effect on productivity, employment and household living standards.

While several businesses partially shut down or closed due to the pandemic, a key factor that drove many businesses into the abyss was the announcement of lockdowns by many governments across the world.

According to the Ghana Statistical Service (GSS) in its COVID-19 Business Tracker Report, during the partial lockdown imposed on two major cities in Ghana (Accra and Kumasi), more than one-third (35.7 per cent) of business establishments were closed down (partially or permanently) compared to almost a quarter (24.3 per cent) of household firms.

“Beyond the lockdown in May to June, the proportion of closed business establishments decreased by 19.5 percentage points to 16.2 per cent. Similarly, the proportion of household firms that were closed declined by 9.7 percentage points during the same period to 14.2 per cent.”

On employment, the report indicated that 46.1 per cent of business establishments reduced wages for 25.7 per cent of the workforce (an estimated 770,124 workers). Only 4.0 per cent of firms indicated that they had laid-off workers, corresponding to 1.4 per cent of the workforce (an estimated 41,952 workers).

COVID-19 reality on businesses

StarPoint Limited is a local paint manufacturing company located in Kumasi in the Ashanti Region of Ghana. It imports chemicals from countries like Nigeria and China for its paint production, an innovative product locally referenced as ‘cement paint’ due to its advantage in preventing peeling.

“Barely two years ago, we were producing over 50,000 bags of tiles-adhesive cement, but we had to diversify and go into paint production due to some issues with a competitor product. Our new product has, however, exceeded our expectations because of the positive market response we received. That was before the outbreak of the pandemic,” said the Chief Executive Officer, Mr. Godwin Ameko.

Photo: 1. Unused buckets of StarPoint Cement Paint

With a permanent staff strength of 25 workers, he said, the company had to also rely on casual workers of usually five or more to meet production targets, especially when orders had been placed by customers. “This should tell you that things were good,” he said with a wry smile.

“Our problem started with the outbreak of the pandemic,” he recounted. While a stand-off between Nigeria and its neighbouring states had resulted in border closures, preventing the chemicals ordered from Nigeria from reaching Ghana – “the least I expected was the closure of our own borders due to a virus,” he added.

Though the company was able to clear some of the chemicals ordered from China at Tema Port around the same period, he noted that the greater chunk of raw materials needed to meet commercial production was locked up in Nigeria. This was just when the border issues were over.

He said when he last checked on the chemicals after lifting of the restrictions, they had expired, costing the company a loss of GH¢400,000, Mr. Ameko said – regret plainly visible on his face.

Photo: 2. Abandoned production site of StarPoint

With the month-long partial lockdown, which also saw non-essential businesses restricted from operating, the only option left he said was to downsize the workforce to only two – while acknowledging the impact this would have on the workers as a majority of them are married with children.

However, even post-lockdown, the Chief Executive Officer of StarPoint Limited stated, his company has not been able to recover despite all the investment made into its operations.

Sustaining the hospitality business with zero clients

Royal Larmeta Hotel is a local hospitality business that operates a restaurant, a conference facility, as well as lodging services among others. With COVID-19 restrictions imposed on conferences, lodging and catering services, hospitality operators like Royal Larmeta Hotel were among the hardest hit businesses.

Photo: 3. Forecourt of Royal Larmeta Hotel in Kumasi

The Chief Executive Officer, Mrs. Afua Gyamfua Owusu-Akyaw, said the hospitality industry was just picking up after enduring a dip in business due to the power crisis that Ghana experienced some seven years ago.

“Things were levelling up after the power crisis, mainly from conferences, catering services offered as well as the lodging; the business was beginning to boom, with the majority of our clients being international agencies,” she said.

With a total workforce of 63, only eight were casual workers who were occasionally engaged to offer business support. “Our staff strength could go up to 100, depending on the occasion,” she stated.

Photo: 4. CEO of Royal Larmeta Hotel, Mrs. Gyamfua Owusu-Akyaw

However, she said COVID-19 took a toll on business operation when clients began calling to cancel booked conferences – and sometimes paid ones, even before Ghana recorded its first case.

“When the final restrictions were placed on conferencing, pub-opening and lodging by March 11, 2020, we had no option but to shut down.

“Almost all the workers were let go, except four security personnel and five others – a ‘skeleton staff to man the facility during the shutdown.”

She added that the business has had to depend on loans, with ‘abnormal’ interest rates, to sustain the facility until the restrictions were lifted.

The situation, Mrs. Owusu-Akyaw shared, has left the business with huge debts – rendering it incapable of returning to its former state in the post-lockdown. “For the past seven months, we have actually been operating at a loss.

“We had a programme line-up between February to April this year totalling a little over GH¢100,000. Last year, we lost over GH¢600,000 in revenue due to the closure of the facility because of COVID-19. Currently, we have sent some workers home again because we are operating at under 20 per cent capacity,” she revealed.

Conversely, while these other sectors of the business community endured several challenges during the lockdown, there was a new window of opportunity for others with the pandemic.

Mrs. Janet Abobigu, who is the Chief Executive Officer of Unijay Limited – a garment and textile company, says despite the fact that a huge chunk of orders placed by clients remained in the stores, contracts for the production of nose masks brought ultimate relief.

Photo: 5. CEO of Unijay Limited, Mrs. Janet Abobigu, supervising work at the production site.

She recounted that before the outbreak of COVID-19, orders were completed and supplied latest by September; and payment processes usually concluded latest by two to three months upon delivery.

While production slowed drastically – leading to huge debts to suppliers and other finance houses, clients did not cancel the orders placed given the cost cutting-measures many companies pursued.

In sharp contrast to other businesses downsizing their workforce, largely as a cost-cutting measure amid the lockdown, Unijay Limited rather increased its workforce from 200 to 400 workers. Mrs. Abobigu explained that more hands were needed for the company to meet requests to produce large quantities of face masks.

Photo: 6: Workers at one of the production sites of Unijay Limited

Industry actors take on COVID-19’s impact

This difficult situation facing businesses was also corroborated by the local chapters of the Ghana National Chamber of Commerce and Industries (GNCCI) and Ghana Employers Association (GEA), the local guilds of business operators.

The Regional Manager of GNCCI, Ms. Jacqueline Bondzie, explained that members who fall within the SME category depend on their daily proceeds to run their businesses.

She noted that the partial lockdown therefore adversely affected the turnover of many of these businesses. The development at the moment has made their ‘bouncing back’ very difficult, she added.

Moreover, she observed that those in the manufacturing sector had to lay-off almost all their workers due to the lockdown, and now even re-engaging the old workforce with lower salaries has become a challenge.

The Area Manager of GEA-Northern Sector, Mr. George Nyarko Aboagye-Attah, said its members in the manufacturing sector had to operate at half capacity, while those in the hospitality industry totally halted work.

They lost their jobs due to COVID-19

Rexford Agyepong, before COVID-19, was an employee of StarPoint Limited – serving as one of the site supervisors. The married man with three children said while what is mostly earned from a young business such as StarPoint could not be compared to what can be earned working in government employment, the monthly earnings were quite appreciable. He earned a monthly salary of GH¢1,000. With this, he was able to look after his three children and wife, as well as some other dependents at the moment. Agyepong conceded that he and his family are at their lowest ebb due to the pandemic. He said the health crisis has brought undue hardship since he lost his job with StarPoint Limited. “The work was all that we had and depended on.” Several months after losing his employment status, Agyepong narrates that he is still struggling to make ends meet.

What has saved his situation, he disclosed, is the little money the wife makes from her petty trading activities. “The children have to be fed, there are school fees to be paid – and all these now rest on the shoulders of my wife,” he says.

Although the government has ‘shouldered’ the cost to vaccinate the Ghanaian public, targetting to reach over 20 million of the population, Agyepong would like the government to provide a mechanism that also identifies people who have lost their means of livelihood due to the pandemic and provide them with some support.

Agyepong, who shared his story in an interview, made the point that the only approach to prevent destitution in these current times is for government to help sustain small businesses which provide employment for large numbers of the Ghanaian population.

Similarly, Mercy Appiah – a married woman with two children, had lost her formal employment months before the outbreak of COVID-19 in Ghana. With the support of her husband, Mercy set up a pub at one of the popular beaches in Takoradi; investing over GH¢10,000 in her new business.

“Running the pub wasn’t easy, but the prospects were good considering the investment we made,” she said. In addition to selling assorted drinks to beachgoers, she also traded accompaniments like khebabs, sausage and other finger-foods – making a weekly return of between GH¢400 and GH¢500. This meant that the business was generating monthly revenue of about GH¢2,500.

She however said all the investments made went down the drain with the advent of COVID-19. “The upkeep of my family depended on the proceeds we made from the business since my husband’s consultancy work had halted due to cancellation of arranged conferences.” So, when the government directed all beach and social activities to be closed down, feeding the family became an uphill task, apart from the loss of investment,” she indicated.

She explained that the family fed on all the items bought earlier for the business until everything ran out of stock. “Being able to keep head and tail intact has been by the grace of God,” she lamented bitterly

Opportunities in crisis, and adapting to digitisation

A full recovery immediately may be difficult to attain, but it lies ahead depending on how businesses take advantage of the opportunities presented, the Ashanti Regional Head of the National Board for Small Scale Industries (NBSSI), Mr. Manu Bashir, said during an interview.

The pandemic has two sides to be considered for almost every entrepreneur, he said. “We share the view that anywhere you see people crying, then there is a business opportunity.”

He explained that businesses are created to solve problems, so there is a need for businesses to assess and exploit the opportunities which the pandemic has brought – despite the other unpleasant side.

For instance, he said, the agency engaged tailors and seamstresses registered with it in the period of the outbreak, to enter into the production of facemasks; while those in cosmetics were urged to go into the production of hand sanitisers. Also, people with an interest in the business were encouraged to take sewing lessons online.

However, he conceded that many other businesses collapsed; given that the nature of those businesses did not in any way provide a means to take advantage of opportunities presented by the pandemic.

The NBSSI is an agency under the Ministry of Trade and Industry (MoTI) mandated by Act 434 to promote and develop micro, small and medium enterprises (MSMEs) in Ghana. The Regional Head said operations were also in a way affected, but overall, the centre was challenged to innovate – making use of technology to limit face to face interactions.

To alleviate the impact of COVID-19 against job losses, livelihoods and support MSMEs, the Ghana government through the NBSSI introduced the Coronavirus Alleviation Programme (CAP) Business Support Scheme, worth about GH¢600million.

Although many business operators have expressed mixed views on the stimulus package, Mr. Bashir said his last checks showed that close to GH¢55million has been disbursed to businesses in the Ashanti Region.

While it is hoped that the financial support can cushion businesses which have been worst-affected by the outbreak of the pandemic, as economies all over the world battle the impact of this global health crisis it is also hoped that lessons learned from the pandemic will shape the local business community.

This report was produced by Kizito Cudjoe with the support of CENOZO within the framework of the project ‘COVID-19 Response in Africa: Together for Reliable Information’ funded by the European Commission.

Reviving the economy: Budget 2021 introduces new taxes, revises existing ones upward

March 15, 2021

NHIS, VAT flat rate up by 1% each
New sanitation and pollution levy
Fuel prices to go up by 5.7%
Banks slapped with 5% extra income tax
Road tolls revised
New gaming policy introduced

Government has introduced some new taxes and revised existing ones upward to generate more revenue to take care of high expenditure, including the Agenda 111, arising out of impacts from the coronavirus pandemic on the economy, the 2021 budget statement has revealed.

The budget statement which was for the first time presented in Parliament last Friday by someone other than a substantive finance minister – the Minister of Parliamentary Affairs, Osei Kyei Mensah Bonsu – revealed that government has decided to introduce a new tax dubbed the ‘COVID-19 Health Levy’ which will see a one percentage point increase in the National Health Insurance Levy and a one percentage point increase in the VAT Flat Rate to support expenditures related to COVID-19.

In addition to this, government said it is proposing a Sanitation and Pollution Levy (SPL) of 10 pesewas on the price per litre of petrol/diesel under the Energy Sector Levies Act (ESLA); and a further Energy Sector Recovery Levy of 20 pesewas per litre on petrol/diesel under the ESLA as a means of finding additional resources to cover the excess capacity charges that have resulted from the Power Purchase Agreements (PPAs).

The implementation of these two proposed levies for sanitation and pollution as well as to pay for excess capacity charges, according to the budget statement, will result in a 5.7 percent increase in petroleum prices at the pump. What this essentially means is that prices of goods and services are likely to go up, as the effect of the increment will be to affect transport fares which will directly be passed on to consumers.

Besides these taxes, government has further slapped a financial sector clean-up levy of 5 percent on profit-before-tax of banks to help defray outstanding commitments stemming from the financial sector clean-up. The levy, the budget states, will be reviewed in 2024.

That’s not all: the budget statement further added there will be a review of existing road tolls which will be aligned with current market rates as part of the framework for promoting burden-sharing as the country seeks to transform the road and infrastructure sector in a COVID era.

Another area that government seeks to tap into for revenue is the gaming industry, as it is estimated that the economy loses over GH¢300million annually in revenue due to leakages in the sector. The gaming industry is fast gaining ground in the country with the influx of online betting and automation.

COVID-19 support initiatives

Despite the newly introduced levies and revision of existing ones, the budget further introduced initiatives to cushion effects of the pandemic on individuals and businesses. These include tax rebates of 30 percent on the income tax due for companies in hotels and restaurants, education, arts and entertainment, and travel and tours for the rest of the year.

Other initiatives also include the suspension of quarterly income tax instalment payments for the rest of the year for small businesses using the income tax stamp system; and suspension of quarterly instalment payments of the vehicle income tax for the third and fourth quarters of 2021 for public transport and taxis as part of measures to reduce the cost of transportation.

The other initiative is an extension of the waiver of interest as an incentive for early payment of accumulated tax arrears.

Revenue target

Overall, government’s total revenue and grants for 2021 is projected to rise to GH¢72.4billion, equivalent to 16.7 percent of GDP – up from an outturn of GH¢55.1billion GDP recorded in 2020. Of this, domestic revenue is estimated at GH¢70.9billion.

Of the total domestic revenue, non-oil tax revenue will constitute about 74 percent and amount to GH¢53.6billion, equivalent to 12.4 percent of GDP; reflecting the impact of expected improvements in tax compliance and reforms in revenue administration.

NIC donates 500 GoTa phones to Police Service to check fake motor insurance

March 15, 2021

Dr Justice Ofori presenting the items to COP Frederick Adu-Anim — Dr. Justice Ofori presenting the items to COP Frederick Adu-Anim

The National Insurance Commission (NIC) has presented 500 GoTa phones to the Motor Traffic & Transport Department (MTTD) of the Ghana Police Service for enforcement activities. These security devices are meant to detect vehicles with fake motor insurance policies plying our roads.

Presenting the items to the police at an official ceremony at Police Headquarters on Thursday, March 11, 2021, the Commissioner of Insurance, Dr. Justice Ofori, noted that use of the devices “would further reduce the issuance and use of fake motor stickers to the barest minimum.”

Dr. Ofori remarked that “through the assistance of the police, the Commission has in the past, arrested and sometimes prosecuted persons who have been found dealing in the issuance of fake motor stickers”. He stated further that: “The enforcement activities of the police through the use of the GoTa phones will affirm the Commission’s obligation to protect interests of the policyholder, and by extension the average person on the street”.

Receiving the devices on behalf of the Inspector-General of Police (IGP), Mr. James Oppong Boanuh, Director-General of the MTTD, COP Frederick Adu-Anim, expressed appreciation to the NIC for its support over the years.

“Indeed, the support we have received from the (NIC) in the past has not only been immense but also phenomenal. Mention can be made of the Commission’s nationwide Training of Trainers (ToT) programme to build capacity on the MID for some 400 personnel of the MTTD in 2020,” he remarked. “It is instructive to note that even before the presentation of these devices, the MTTD personnel had started making use of the USSD short code *920*57#, which provides time-checks on the insurance validity of vehicles,” he stated.

The NIC in January 2020 implemented an electronic motor insurance database software, known as the Motor Insurance Database (MID). It is a central database repository of all motor vehicle insurance policies issued by insurance companies in Ghana.

With the MID, one can easily verify the insurance status of any vehicle and confirm the authenticity of any insurance policy purchased through a USSD code. The GoTa phones to be used by the police have additional security features for enforcement and investigative purposes, and are the preserve of only the police.

Since its implementation, the MID portal has issued insurance policies to an impressive 1.4 million vehicles.

The business of fake motor insurance has greatly reduced, as the initial objective of curbing the menace of vehicles with fake insurance stickers plying our roads, endangering lives and property has been achieved to a large extent.

€10M line of credit facility to boast Guinean SMEs, SMIs

March 10, 2021

The ECOWAS Bank for Investment and Development (EBID) has granted a line of credit of €10 million to Vista Bank Guinea to support the financing and promotion of SMEs and SMIs in the Republic of Guinea.

The facility agreement was signed by Dr. George Agyekum DONKOR, President and Chairman of the Board of Directors of EBID and Mrs. Yassin BAYO, Managing Director of Vista Bank Guinea.

The line of credit will assist Vista Bank Guinea in strengthening its capacity to finance medium-term loans for SMEs and SMIs in Guinea.

Vista Bank Guinea currently receives technical assistance from the International Finance Corporation (IFC) and grants loans for the development of the Guinean private sector while offering services including financial advisory, financing extensions, diversification, modernization, and rehabilitation projects.

Over the years, Vista Bank Guinea has focused on the deployment of a new growth strategy that aims to gradually diversify its portfolio towards Guinean SMEs and SMIs, serving around 2,000 corporate clients, 80% of which are SMEs.

The granting of this line of credit exemplifies EBID’s commitment to supporting the government of Guinea with the implementation of its 2020-2025 Development Plan- a plan which focuses on the critical role of private sector development and Guinea’s overall economic transformation.

In light of this, the government of Guinea has placed particular emphasis on reforms to improve the business environment and competitiveness as well as developing a dynamic local financial system that is more accessible and better suited to the market, particularly for SMEs and SMIs.

This credit facility will boost business activities for SMEs and SMIs in Guinea by giving them access to medium-term financing previously inaccessible due to a lack of suitable resources. Overall, the extension of this line of credit to Vista Bank Guinea will promote progress in the country’s industrialization efforts by increasing value chains and strengthening the capacities of local SMEs and SMIs, among others.

Afreximbank approves US$70M to facilitate trade in Southern Africa

March 10, 2021

Photo: Prof Benedict Oramah, President, Afreximbank

African Export-Import Bank (Afreximbank) has approved US$70 million to finance the expansion and upgrade of the Beitbridge border post in Zimbabwe.

The Bank authorised a US$43 million senior term loan facility to Zimborders Mauritius Ltd and the issuance of an Investment Guarantee of US$27 million supporting Pembani Remgro Infrastructure Fund to join other investors in Zimborders Mauritius Ltd. The financing facility forms part of a US$204.4 million syndicated senior term loan facility for which Afreximbank was among a consortium of financial institutions acting as Mandated Lead Arrangers and Senior debt Lenders.

The Beitbridge border post-upgrade project, which is a public-private partnership, is the first of its kind in Zimbabwe. It is funded by African financial institutions that have come together to provide commitments in the syndicated senior term loan facility. In addition to Afreximbank, other participating financial institutions include Limited, ABSA Limited, Nedbank Limited, Standard Bank of South Africa and The Emerging Africa Infrastructure Fund.

The upgrade will include the procurement of technical equipment and software, thus modernizing the border post to ensure smooth service during the concession period. In addition, investments will be made in Beitbridge town, including developing a fire station, residential building units, housing sewer lines, housing electrical supply lines, a reservoir, water pipelines, a wastewater treatment plant, a water pump station and other infrastructure.

Reflecting on the project, Prof. Benedict Oramah, President of Afreximbank, said that the improvement of the Beitbridge border post was critical to reducing costs associated with traffic delays, and in turn, increasing trade in the Southern Africa region in furtherance of Afreximbank’s drive to boost intra-African trade.

“It is too costly to wait for almost five days at the border to deliver goods and services across Southern Africa. With this facility, we aim to cut indirect and direct costs of trade associated with border post effectiveness and efficiency,” added Prof. Oramah.

In Matabeleland South province, the Beitbridge border post embodies the political border between Zimbabwe and South Africa and is the busiest border crossing in Southern Africa. The border post is the key access point to trade with surrounding countries to the north and its upgrade will significantly reduce waiting periods that have hampered and slowed trade across Southern Africa, causing haulage operators to use longer, less efficient alternative routes.

Current estimates by TradeMark Southern Africa (TMSA) indicate that a truck takes about five days to be cleared at the border post, creating additional “dead-weight” transport costs for importers. The approval of the loan facility and investment guarantee to upgrade the border post will greatly reduce waiting times and improve its operational efficiency and effectiveness.

EBID signs € 40 million framework agreement with ODDO BHF AG

March 10, 2021

ECOWAS Bank for Investment and Development, EBID, the regional development bank for the ECOWAS sub-region (Economic Community of West African States), and ODDO BHF AG, the Franco-German financial services group with a longstanding track record and expertise in ECA financing, have signed a framework agreement.

Dr. George Donkor, President of EBID, and Florian Witt, Head of International & Corporate Banking at ODDO BHF, sealed this new partnership between the two entities via video conference.

The framework agreement consists of an uncommitted credit line of €40 million provided by ODDO BHF AG to EBID under which individual loan agreements can be concluded.

Its scope is flexible as it is designed for project-related transactions throughout the ECOWAS region, which include supplies from Europe officially supported by export credit agencies (ECAs) like Atradius of the Netherlands, Bpifrance Assurance Export of France or Euler Hermes of Germany.

This cooperation between EBID and ODDO BHF AG is an important contribution to promoting the development of various industrial sectors in the ECOWAS region.

It aims to further strengthen the prospects for small and medium scale enterprises and industries to enable them to contribute to the growing economy and generate employment. Both financing partners are already in advanced discussions on various projects in areas such as renewable energy, agribusiness and pharmaceutical production.

During the official signing ceremony, Dr. George Donkor, President of EBID, stated, “The credit facility illustrates the commitment of the two institutions to the region’s transformation agenda through sustainable support to the vital sector of agribusiness.”

Florian Witt, Head of International & Corporate Banking at ODDO BHF, reiterated: “ODDO BHF AG, with its International Banking Division and its strong focus on Africa, has been supporting the West African region for many years and is very much looking forward to working with the ECOWAS Bank for Investment and Development.”

ODDO BHF is a Franco-German financial group whose history goes back over 170 years. The Group evolved from a French family-owned bank and a German private bank focused on the Mittelstand. ODDO BHF employs 2,300 people, manages client assets of over €100 billion and is active in Private Wealth Management, Asset Management and Corporates & Markets in France as well as in Germany. Around 65% of the Group’s capital is held by the Oddo family, and around 25% by its employees. This cooperative partnership is a guarantee for high long-term employee commitment. In 2019, net income from ODDO BHF’s banking business amounted to €585 million. The Group’s consolidated equity amounted to €890 million as of December 31, 2019.

The ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank, based in Lomé, Togolese Republic. Over the past 4 decades, EBID has invested approximately 2.8 billion USD in inter-and intra-regional development programs covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, social sectors, and services. EBID intervenes through long-, medium-, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations and services.

#SONA21: Agenda to enhance health infrastructure on course

March 10, 2021

The government has said its determination to realize massive improvement of health sector infrastructure will be vigorously pursued through ‘Agenda111.’

The vision dubbed ‘Agenda 111’ is part of the plans to make Ghana a leading centre of medical excellence.

Speaking at his first state of the nation address, President Akufo-Addo, stated that agenda 111’s realisation will make Ghana a centre of medical excellence and a destination for medical tourism.

He further explained that agenda 111 will achieve a number of things, key amongst them is having the regional hospitals as specialised centres.

“Each of the sixteen(16) regional hospitals will be designated as a Centre of Excellence in the different specialities of medicine. For example, orthopaedic surgery, burns, plastic and reconstructive surgery, breast care centre, fertility centre, neonatology and pediatric centre, neurosurgery and spine centre, stroke centre, heart and kidney centre and mental health centre to name a few,” he said.

The president added that government plans to continue upgrading the medical curriculum as well as continue training young doctors and health care professionals in a world class fashion.

President Akufo-Addo further intimated that government will incentivise the private sector to increase its capacity to support demands in health care delivery which will in turn encourage Ghanaian in the diaspora to come home.

“We will incentivise the private sector to increase capacity to support the demand in health care delivery and encourage Ghanaian medical experts in the diaspora to collaborate and join hands with us to help build and contribute to the realisation of this noble vision,” he said.

Further stating his vision for the health sector, the president touched on government’s roll out of electronic medical records system(E-Health) deployment is currently underway, following its implementation in key health facilities like Korle-Bu, Komfo-Anokye, Ho, Tamale and Cape Coast teaching hospitals, and several district hospitals in the Central Region, Upper East, Upper West, and Bono Regional Hospitals will go live on the e-health platform in five(5) days.

Nana Addo commends Afreximbank for spearheading trade and industrialization

March 10, 2021

President Akufo-Addo — From left to right, Governor of the Central Bank of Ghana, Dr. Ernest Addison; President of Afreximbank, Prof. Benedict Oramah; President of the Republic of Ghana, H.E. Nana Akufo-Addo; Secretary-General of AfCFTA, Mr. Wamkele Mene; Minister of Trade & Industries of Ghana, Mr. Alan Kyerematen; President of Ghana’s Representative at the Ministry of Finance, Mr. Charles Adu Boahen.

President Nana Addo Dankwa Akufo Addo has commended the Africa Export and Import and Bank, Afreximbank for supporting Trade and Industrialization on the African continent.

Nana Addo also commended the institution of the Pan-African Payments and Settlements System (PAPSS).

He stated that the PAPSS could be effective in terms of its ability to facilitate trade and investment in the ECOWAS region.

According to him, the role of Afreximbank as the enabler of intra-Africa trade for development is exceptional and should be supported by all.

President Akufo-Addo made the comments in a meeting with President of African Export-Import Bank (Afreximbank) Prof. Benedict Oramah and the Secretary-General of the African Continental Free Trade Area (AfCFTA), Mr. Wamkele Mene at the Jubilee House in Accra.

As the Champion of the African Union Financial Institutions, the meeting was to brief key stakeholders on the progress of the deployment of the Pan-African Payments and Settlements System (PAPSS) which is on track and scheduled to commence piloting in April and to be fully launched in June 2021. An update on transactions funded by Afreximbank in Ghana was also provided.

Speaking at the meeting, Prof. Benedict Oramah said that Afreximbank has approved an amount of US$500 million to support the clearing and settlement for PAPSS in the West African Monetary Zone (WAMZ) countries where the pilot will be implemented. It is envisaged that an amount of US$3 billion will be required to support the system upon full continent-wide implementation.

“On behalf of the Board of Afreximbank, I thank and commend His Excellency Nana Akufo-Addo for endorsing PAPSS as a critical instrument for full AfCFTA implementation and boosting intra-regional trade. PAPSS will be rolled out across the continent to facilitate trade, removing major constraints to Africa’s regional payment systems. We count on President Akufo-Addo’s continuous strong support for integration to the BCEAO once integration with the central banks in the WAMZ region is completed, thereby achieving full ECOWAS integration”, Prof. Oramah, said

Afreximbank is in advanced discussions with other countries and regional payment systems including COMESA REPSS, Zimbabwe and Angola, for connection to the system post-pilot phase.

Prof. Oramah also briefed President Akufo-Addo on the Fund for Export Development Africa (FEDA), a private equity investment entity whose primary objective is to facilitate Foreign Direct Investment (FDI) flows into Africa’s trade and export sectors.

He added that the AfCFTA Adjustment Facility, which Afreximbank is supporting the African Union and the AfCFTA Secretariat to develop, will among other things, cushion African Governments from the AfCFTA-induced tariff revenue loss and allow countries to make smooth adjustments to the AfCFTA.

It will provide medium-term financing for countries as well as the private sector to build efficient trade facilitating infrastructure, expand and retool their productive capabilities, build new ones as well as retrain and develop needed skills to drive the expected industrialisation to effectively boost intra-African trade under the Free Trade Agreement. The Board of Afreximbank has already approved the participation of the Bank to the tune of US$1 billion.

On the African Union-supported effort for increasing the capitalization of Afreximbank, Prof. Oramah sought the support of H.E. Nana Akufo-Addo as a champion and the participation of the Republic of Ghana.

From left to right, Governor of the Central Bank of Ghana, Dr. Ernest Addison; President of Afreximbank, Prof. Benedict Oramah; President of the Republic of Ghana, H.E. Nana Akufo-Addo; Secretary-General of AfCFTA, Mr. Wamkele Mene; Minister of Trade & Industries of Ghana, Mr. Alan Kyerematen; President of Ghana’s Representative at the Ministry of Finance, Mr. Charles Adu Boahen.

FIBank is now Vista Bank (Gambia) Limited

February 23, 2021

FBI — Photo: Simon Tiemtore, Chairman of Vista Group

The Central Bank of The Gambia has formally approved the rebranding of First International Bank (Gambia) Limited to Vista Bank (Gambia) Limited; with a formal launch of the new Brand to be announced in due course, Vista Group has announced.

According to the Chairman of Vista Group Simon Tiemtore, the rebranding is a milestone in Vista’s declared intent of establishing a world-class pan-African financial institution promoting financial inclusion and contributing to socio-economic development in The Gambia.

The rebranding will further expand Vista Bank’s existing operations in Guinea and Sierra Leone, which will be augmenting through the Group’s impending purchase of La Banque Internationale pour le Commerce et l’Industrie de la Guinée (BICIGUI) in Guinea and Banque Internationale pour le Commerce l’Industrie et l’Agriculture du Burkina (BICIAB) in Burkina Faso, from BNP Paribas.

The Chairman of the Vista Group has further stated that Gambian citizens, SMEs and Corporate organizations will shortly be benefitting from the Bank’s digital, branch and agency distribution strategy, with an intensely customer-centric focus, a huge emphasis on quality customer service, cutting edge digital functionality and the provision of convenient, innovative banking products to meet their needs.

The Vista Group, which is owned by Lilium Holdings, a U.S owned Investment Firm, supports customers by providing a full range of accessible banking facilities to everyone.

It is therefore intended to drive financial inclusion, engender socio-economic growth and national prosperity by meeting the needs of the Gambians and their businesses in their quest to become the bank of choice.

CIB Ghana launches members’ social care plan at maiden AGM

February 17, 2021

The Chartered Institute of Bankers (CIB) Ghana has launched a comprehensive social care plan for its members that seek to offer financial support to members when the unexpected life events happen.

The launch of the product took place at the institute’s maiden annual general meeting which is in pursuant to section 12 and Second Schedule of the Chartered Institute of Bankers Ghana Act, 2019 (Act 991). The AGM took place at the institute’s auditorium.

The AGM was chaired by Mr. Sampson Mensah Omari, FCIB, the Vice President of the Institute. A blended means of participation was adopted during the AGM where members joined the meeting either through the virtual platform provided or in-person with strict observance of all Covid-19 protocols.

As part of the proceedings of the meeting, the Governing Council introduced the Chartered Institute of Bankers, Ghana Social Care Plan for its members. The Plan is a comprehensive social intervention package aimed at offering financial support to members when the unexpected life events happen. It was developed in cognizance with the feedback received over the years from members and adoption of best practices from other institutions.

According to Mr. Charles Ofori-Acquah, the Chief Executive Officer of the Institute, the Institute, in addition to creating opportunities for the professional education and development of its members, is concerned about the inevitable social challenges’ members face.

Hence, the decision by the leadership of the Institute to introduce a comprehensive initiative to support some aspects of members’ social needs. The Comprehensive Social Care Plan includes Group Life Insurance Cover, Group Funeral Policy, and an Annuity Pension Fund.

In explaining further, he said the Group Life Insurance Cover had been designed to provide a holistic life insurance cover for members and protect them in the event of contingencies such as death, spousal funeral, retrenchment, critical illness as well as total and permanent disability. This package applies to the entire membership of the Institute, namely, Ordinary, Students, Associates and Fellows.

The Group Funeral Policy provides a sum-assured to the family of a Chartered Banker, who dies during the period of cover, whether through natural, illness, or accidental causes. Unlike the Group Life Policy, the Institute pays an annual premium to the Service Provider to support Chartered Bankers in good standing, irrespective of their age bracket.

The third package which the Annuity Pension Fund serves as a supplement to monthly payment paid by SSNIT to retired members as pension. Mr. Ofori-Acquah stressed that members who work in the banking industry often enjoy disproportionate benefits in service and retirement.

While some members enjoy medical pension after service, others have to rely on depleted personal savings to look after their health hence the need to have a fund that will guarantee a minimum Personal Pension Fund Value at retirement. Members applauded the initiative and considered it a great intervention that would further enhance their welfare and well-being.

Lead-it Africa hosts seminar for student leaders in Ho

February 16, 2021

IMG-20210217-WA0001 — Photo: Some of the student leaders at the seminar

Student leaders from tertiary and second cycle institutions within the Ho Municipality of the Volta Region have been taken through various leadership training by Lead-it Africa

The seminar organised in collaboration with the Progressive Students Network is an annual event that target student leaders mainly focused on helping participants to grow into leaders with “competence and integrity.”

The interactive session which helps participants find solutions to challenging leadership questions and charting an empowering path towards being competent.

The event, according to Dr. Herman Addae, CEO of Lead-it Africa, helps to drive a positive transformation to quality of leadership in the country, organizations and society at large.

Photo: CEO of Lead-it Africa, Dr. Herman Addae, addressing participants at the seminar

Dr. Herman said, “leadership must be grounded in discipline with a guiding principle of resourcefulness, goodness, growth mindset and grit.”

He stressed the need for leaders to focus on sustainable solutions by finding the discipline to work with passion and persistence until success is achieved.

Lead-it Africa is a consultancy firm with specialization in workplace performance with a specific focus on strategy and leadership development across sub-Saharan Africa.

The President and founder of Progressive Students Network, Evangelist Godwin Baako-Boafo, stated that seven tenets of leaders; obedience, sacrifice, humility, service, selfishness, transparency and commitment should be the yardstick that guides the conscience of every leader.

Editorial: Parliamentarians who have tested positive for COVID must self-isolate, now!

February 15, 2021

The issue of Parliamentarians testing positive for the COVID-19 virus must not be treated with kid gloves. Speaker of Parliament Alban Bagbin made the disclosure last week, and since then it has been an issue on everyone’s lips.

It is not that Parliamentarians are not expected to be infected, but the fact that some tested positive and are still mingling with the unsuspecting public is what has aroused the ire of Ghanaians at large; believing that the infected parliamentarians are acting irresponsibly.

While ordinary Ghanaians are being prosecuted for not wearing face masks, which are now mandatory, parliamentarians who tested positive for the virus are acting as if nothing is at stake! It is good news that all 15 members who have contracted the virus are to have their households tested – including the 56 members of staff who also tested positive.

That way, contact-tracing will be invoked to curb exponential spread of the virus. Indeed, had it not been for forthrightness from the Speaker – who threatened to publish the list of infected parliamentarians should they refuse to self-isolate, this information would not have come into the public domain.

As opinion leaders, much more is expected of our members of parliament; and when we have a virus that is baffling humankind in the manner COVID-19 has, the least we can expect of our parliamentarians is they be forthright and do the right thing when needed.

The risk posed by these recalcitrant parliamentarians is nothing to laugh at; that is why some have opined that they should be sanctioned if need be. If members of the august House submitted themselves to COVID-19 screening, then they should act responsibly and self-isolate if the test proved positive.

We cannot have a set of rules for the generality of the population and another for privileged parliamentarians, particularly when effects of the disease are unequivocal. News that 15 MPs and 56 parliamentary staff have tested positive for COVID-19 shows the extent of spread in this second wave that is causing so much angst.

It is also appropriate that Parliament sits for two days in the week as part of measures to curb spread of the virus. This arrangement will help in curbing rapid spread of the new COVID variant.

Automate property tax and use as a requirement for official documentations

February 15, 2021

The automation of property tax and its use for the acquisition of passport, payment of school fees, government scholarship, sim card registration and vehicle registration would go a long way to help in targeted development

Africa’s towns and cities growth rate has outpaced the activities of the local authorities regarding management, infrastructure and financing. This has made a majority of African towns and cities to face a governance crisis. Accordingly, the capability and capacity of urban local government to provide basic services to a growing population have entered the core of the development debate (Ayitey et al., 2013).

Property tax in Ghana which is popularly called Property rate is considered as the annual payment made by property owners to the local government or the Metropolitan, Municipals District Chief Executives or District Chief Executives of their area to the Ghana Revenue Service (GRA). Properties under considerations are tangible real estate, houses, office buildings and properties that are rented out. The rate ranges from 0.5% to 3% of the estimated cost of the property likewise the classification of the location where the building is situated.

In 1988, Ghana implemented comprehensive reform in its local governance structure and adopted decentralisation as an alternative development strategy. This strategy included political, administrative and fiscal decentralisation and aimed to promote effective and efficient governance at the local level which gave power to the local levels to collect property rate (Ayee, 2008).

Dadson et al. (2015) in their paper titled ‘Determinants of property rate default: evidence from the Ashanti Region, Ghana,’ made it clear that a lot of property owners do not pay property rate because they are not aware and those who are aware do not pay because they have no idea of where to make payment.

Accordingly, (Kuusaana, 2015), in his paper ‘Property rating potentials and hurdles: what can be done to boost property rating in Ghana?’ using WA Municipality as a case study, was able to identify that the major constraint to property tax are poor Information Systems Infrastructure, non-execution of the law, political meddling, inadequate budget for routine activities, inadequate staffing and inadequate technical staffing.

According to a case study which was conducted at Offinso Municipality, it has been proven that the inability for collectors to reach a wider area as well as inadequate collection modes and poor perception of the citizenry against the collection of property rate has had an adverse effect on property rate administration (Addai Boamah & Okrah, 2016).

As has been suggested by (Kuusaana, 2015), the government should go into full automation of the collection of property tax in the country. This has the advantage of allowing authorities to be able to fully account for all monies collected from the populace. Since the collection base will be widened, it will increase the revenue which will help the local authorities in carrying out their activities.

The distribution of facilities has been skewed because there is no proper view of the number of households in any locality. As such only locations endowed with prominent personalities are considered. Automating property tax will give the MMDCE and DCE to be able to plan very well and ensure fair distribution of facilities in their operational zones.

According to the annual crime statistics from the Ghana Police Service 2015, a total of 186,434 complaints were received. The automation of property tax will help in identifying the occupants of every household in any locality which has the potential to help clamp down on people with questionable behaviour.

For example, if the receipt of the property tax is made a requirement in registering a SIM CARD, the receipt of the property rate will help identify the household the person is coming from which will allow for easy identification of deviants in the community. To add to this, the current cybercrime activities will be curtailed since, upon reporting, the telecommunication companies will be able to easily identify the locality the vice happened.

Automating property rate and making it a requirement for vehicle registration will help in easy tracking owners of vehicles in the country. Automating property tax and making it a requirement again in passport acquisition will help in easily identifying the district, the area within the district the individual is coming from based on the codes that will be proposed.

Automating property tax has the potential of helping to know the number of people living in any locality. This is going to reduce the task of the population and housing census unit because upon the click of a button the total number of houses in a locality is known.

To add to these, property tax automation as a requirement in sourcing for government scholarship will help in identifying the locality the applicant is applying from.

The activities of lands commission play a vital role in the proper structuring and development of any country. In view of this, the automation of property tax will help the unit in identifying occupants of unauthorized locations. This is because every location has its Global Positions System (GPS) code. Again, will help the unit to identify highly populated zone and promote research into all aspects of land ownership, tenure and the operations of the land market and the land development process. The unit will also be able to impose and collect all levies, fees, charges for services rendered and establish and maintain a comprehensive land information system

Property tax automation will help for easy investigation of engagement made by the people in a locality. This is feasible since, the payment of the property tax is assessed as a percentage of a property’s value. This may relate to the annual rental value of the property or its capital value. As such high valued properties will be equivalent to the financial status of the occupants of such locality. Knowing these will help the locality if identifying the developmental needs of such an area.

In consideration of the named views, it will be very advantageous to automate the property tax system in Ghana since it will be of immense benefit to the citizens, the District and Municipal Assemblies, the Regional Coordinating Council and the Central Government in increasing the revenue base and also properly and fairly distribute facilities

John Kwao Dawson is a lecturer at the Sunyani Technical University (Computer Science Department)

The writer is a lecturer at the Sunyani Technical University (Computer Science Department). 0249623114.

REFERENCES

Annual crime statistics (2015). Statistics & Information Technology Unit (situ), CID Headquarters, Accra.

Awunyo-Vitor, D., Osae, E. O., & Donani, S. (2015). Determinants of Property rate default: evidence from the Ashanti Region, Ghana. Commonwealth Journal of Local Governance, (16), 4494.

Ayee, J.R.A. (2008). The balance sheet of decentralization in Ghana. In S Fumihiko (Ed.) Foundations for local governance decentralization in comparative perspective.

Boamah, N. A. , & Okrah, M. (2016). Challenges to property rate administration in the Offinso South Municipality, Ghana. International Journal of Public Administration, 39(11), 1–9.

Kuusaana, E.D. (2015), “Property rating potentials and hurdles: what can be done to boost property rating in Ghana?” Commonwealth Journal of Local Governance, Nos 16/17, pp. 204-223.

Bolt rewards three drivers in Mega Bonus Challenge

February 15, 2021

Bolt, the fastest-growing ride-hailing platform in Africa, has today rewarded three drivers in its Bolt Mega Bonus Challenge introduced last year to encourage drivers to provide exceptional service and trips to riders.

The Bolt Mega Bonus Challenge which recorded wide participation from all drivers across 4 cities saw Isaac Awotwe, Adam Okens and Andrew Osei emerge as winners of the brand-new Suzuki Swift cars with over 50 other drivers receiving gift hampers and household appliances.

Receiving their car keys during a ceremony held at Bolt’s Office in Accra, the grand prize winners couldn’t hide their excitement as they shared their individual stories of how diligent and professionally, they worked to emerge top and their plans for the new cars.

Henry Whyte, Operations Manager for Bolt Ghana, congratulated the winners who accumulated the most points by performing their normal Bolt driver activities clearly demonstrating their passion and determination to be the best in providing riders with quality service.

“As an innovative company, we strive to always provide an enabling platform for drivers to thrive and succeed so they can give riders that awesome experience that the brand is known for. We are glad that through this Bolt Mega Bonus Challenge, we have been able to build a community of drivers who take pride in their service. At Bolt, we are equally delighted with the opportunities these rewards will bring to drivers and riders as well”.

He urged the winners to keep up the good work to ensure continued delivery of the best services to riders, adding that Bolt would continue to motivate its partners for business growth.

The over joyous winners were elated and thanked the management and staff of Bolt for recognizing their hard work.

“I’m now the head of my family even though I’m the last born. This is due to hard work and the endless opportunities given to me by Bolt. I’m able to earn more to cater for my family. Winning this car is going to make me a ‘bigger’ person in my family and community. I’m grateful to Bolt Ghana” says elated Isaac Awotwe.

AfCFTA Secretary-General calls on Asantehene

February 15, 2021

Photo: Secretary-General of AfCFTA, Mr. Wamkele Keabetswe Mene, flanked by Nana Appiagyei Dankawoso I, right, and Chief of Staff-Manhyia Palace, Kofi Badu, right

…. lauds Ghana’s role in the continental trade initiative

The Secretary-General of the African Continental Free Trade Area (AfCFTA), Mr. Wamkele Keabetswe Mene, has lauded Ghana’s role in the coming into being of the continental trade initiative.

He, therefore, noted that it is a testament to the country’s longstanding principle of Pan-Africanism.

Mr. Keabetswe Mene stressed that the country has always been at the forefront of ‘African struggles’, making significant contributions to the course of the continent’s development.

He further added that the next step for the continent would be to see “economic liberalisation to make sure that Africa completes the vision of a free continent – a free Africa, and an integrated market, which is a very important objective to achieve.”

The head of the AfCFTA Secretariat was at the Manhyia Palace for the first time since taking office, and in his interaction with the press after he had called on the Asantehene, Otumfuo Osei Tutu II, he said the purpose of the visit was to brief the Asantehene on operations of AfCFTA and its importance for the region and African continent.

He said the occasion also enabled him to discuss with the Asantehene some of the anticipated challenges as AfCFTA takes off.

According to him, Ghana has already started trading under AfCFTA rules – with a shipment to South Africa on January 4, 2020; while other member-countries have indicated being ready with their Customs procedures.

“We expect that when we look back 10 years from now, we as Africans, 1^st January 2021 will be a significant milestone. Market integration is not easy; regional integration is not easy. This takes many years, but you’ve got to start from somewhere.”

He acknowledged that there is still some work to be done “but there is no regional integration agenda that is done overnight. It takes time,” he added

He, therefore, urged all member-countries to ‘come to the table’ in order to ensure that continental integration is achieved.

Impact of COVID-19 on AfCFTA

The Secretary-General of AfCFTA also indicated that the outbreak of COVID-19 has adversely affected their operations.

He said the heads of state had directed trading to commence on July 1, 2020; however, around that time “out of 55 countries, 42 countries were in a full or partial lockdown; borders were closed, goods were not transiting through borders, governments were focused on fighting the pandemic”.

This development, he disclosed, caused a loss of 9 or10 months’ worth of work which “we are now trying to catch up on.” In this regard, he said a number of meetings have already been done with African Ministers of Trade, among others, in an effort to make up for the lost time.

According to him, the biggest impact is on Africa’s economy. He insisted that: “This is why it is so important we implement this agreement as quickly as possible so that we reverse some of the economic damage that has been caused by the pandemic.”

Building an A-List Freight Forwarding and Logistics Company after cutting short his education … The Conship 25 years story

February 15, 2021

After his younger brother joined him in secondary school, the pressure was enormous on a single mother who had taken the responsibility to take care of three (3) boys. At the time, he was in form 5 and had just a year or two to wrap up his secondary school education but he gave it all up and travelled to Nigeria to seek greener pastures.

That trip was not a success, so he came back to join his mother in Tema to ‘hustle’ and make ends meet at the Tema Port. Little did he know that his work as a tally clerk at the Tema Port was going to be the foundation that he needed to build a solid business which now feeds over 200 people directly and provides livelihoods to many.

His hustle as a tally clerk gave him some insight into the freight forwarding and clearing business and that pushed him to start a similar venture in 1996; that has today metamorphosed into Consolidated Shipping Agencies Ltd. (Conship), a worldwide Shipping, Logistics and freight forwarding business.

Twenty-five years on, the Founder and Chief Executive Officer of Conship, Macdonald Vasnani (MC) looks back and attributes the success of this company to the passion to do what is right no matter the cost; “One of my go-to phrases that I have and everyone in the company knows is that “do the right thing and do it right the first time”. This leads to integrity. Integrity is priceless. Humility, integrity, care and passion is what has been the main drivers of this company since it started,” he said.

Even though it started in a small office in Tema, from day one, Mr. Vasnani was eyeing the global market-leading the company to take a bold step to change its local auditing firm to an international one (Deloitte); “We went to Deloitte at a time we were not making much but it was the urge to get things done right that pushed the company there. After a six (6) week audit conducted by Deloitte, the Company had to invest in systems and other recommendations made by the audit firm; “I can say that played a key role in the top transparency, compliance and governance system that we have today,” Mr Vasnani added.

In all his challenges, he pursued education to the highest level and is now a product of the University of Glamorgan and University of Chicago Booth School

The Love Story

M.C and Linda Vasnani share the CEO and COO position of Conship respectively. The two got married in 1999 after they had dated for a year. After marriage, Linda forfeited a well-paying multinational job to join her husband’s company that had started barely three years and was still in its teething stage.

“It was not an easy decision but one that I would take again and again. I have no regrets, especially when your boss is a visionary” Linda Vasnani told the paper.

Mr. Vasnani said he never regretted convincing his wife to join him run Conship as there was no better person to believe in a dream than your better half. He disclosed that while handling a clearing job for M/S Regimanuel Gray Limited, he chanced on a meeting between the Mr. and Mrs. Botwe of Regimanuel Gray fame who are Co-partners in founding the enviable real estate company and aspired to do the same.

“I went to their office one time and they were sitting face to face at a business meeting in their corporate office and I was very impressed. It gave me the confidence that it was possible to run a successful business with your spouse. But who else can you trust, for better for worse, till death do you part. I owe my wife and my family a lot,” Mr. Vasnani mused.

He intimated that even though none of his children currently work with the company, it would be his joy to have them join Conship in his lifetime, however, a succession plan has been created to ensure that the company lives beyond generations.

Milestones

Over the years, Conship diversified its operations into other areas of the logistics industry, such as Airfreight, Marine and Husbandry, Logistics and Projects.

The discovery of oil in commercial quantities in the Western Region (Offshore) of Ghana brought with its enormous opportunities for the Logistics and Supply Chain Industry. But even before then, the company had had some stint in the oil and gas sector.

The company after its first Foreign Corrupt Practices Act (FCPA) due diligence in 1999 landed its first oil and gas logistics business out of Houston with Global Offshore. Global Offshore was doing some work in Nigeria supporting some oil and gas pipeline operations and projects.

Between 2003 and 2007, Conship was actively involved in the West African Gas Pipeline [WAGP] project. The company worked with WAGP and Chevron in the pipe coating plant, handling the barges and giving offshore support.

During this period, the company further enhanced its systems and intensified training of staff in the following areas: Human Resource, Information Technology Health, Safety, Security and Environment, Transportation Systems, Compliance and ISO Certifications

These major milestones for the company prepared it to represent some multinational freight forwarding companies around the world who believed and trusted the operations of the company – pushing its activities into the limelight.

“Another milestone we are proud of was when the first FPSO, Kwame Nkrumah, came to Ghana. We handled the inward clearance, and we were one of the first companies that had to work with the off-takers offshore. During the gas project, for instance, we also had a lot of PSVs [platform supply vessels] we were working with.

Conship was awarded a contract by Tullow for domestic freight forwarding in 2010 after a successful tender – the first indigenous company to be awarded such a project. We were also actively involved from end to end in the second FPSO from Tullow and MODEC. We were awarded the contract to bring the FPSO from Singapore, and we took stakeholders to Singapore to ensure compliance and certifications.

Clearance was achieved within three hours because it was a seamless, well-planned process. We are also one of the first indigenous company to set up an Onshore Logistics Base in Ghana to support projects in Liberia (drilling campaign) back in 2012. We were awarded the contract to handle the logistics (moving materials and equipment) to Liberia from Takoradi and vice versa. After the Liberia campaign, we replicated the same module for campaigns in Sierra Leone and Walvis Bay, Namibia” Mr. Vasnani said.

This year, Conship was part of the team that executed the Tema LNG regasification terminal. As a result of its rich experience in handling these kinds of assets, Conship handled the inward clearance of Floating Regasification Unit.

Over the years, M. C. Vasnani and the company have received numerous awards, both local and international and he attributes all that to the hard-working team in the company and His Maker.

Challenges

One of the major challenges Mr. Vasnani noted was a human resource. According to him, the industry needs well trained and qualified people to man affairs.

Finance has also been a challenge the company has and is still facing. He noted that there are more opportunities in the sector but many banks are not interested in project banking and would want to get collateral on every loan they offer making it difficult to get funds to inject into operations. “This makes it difficult to compete with multinationals who can access cheap funds from their home country” he indicated.

Future prospects

Conship would be diversifying its operations and as a result, it is moving a bit away from some of its major operations and developing new grounds. Oil and Gas which constituted some 60 percent of its operation has been reduced due to the current global pandemic, and while the company is working hard to cement its footprints in other sectors such as, – Mining, Pharmacy, Telcom, Supply Chain, Third-Party Logistics services among others “we are hopeful of the future”.

The company is also looking at enhancing its cloud-based software’s as well, it is also looking into other developed enhanced software to ease operations in the sector; all in the bid to automate its services.

But in areas that would be difficult to automate, there is a conscious effort to give more attention to ensure that clients are satisfied and are not unduly delayed.

“We are in extraordinary times which call for extraordinary measures, and this must be done carefully, well calculated to ensure the needed targets are attained. Health and Safety has become part of us now, and we all have to embrace it and move forward”

The ultimate aim is to make the customer, clients, partners and stakeholders happy and comfortable.

Cybersecurity advisory on GAF enlistment scam

February 15, 2021

Albert_Antwi_Boasiako — Photo: Albert Antwi Boasiako, Cyber Security Advisor

The National Cyber Security Centre (NCSC) of the Ministry of Communications has received multiple reports of recruitment-related scams targetting the public, and specifically the youth, through the Ghana Armed Forces (GAF) enlistment programme.

Several high-ranking officials, including Members of Parliament, are being impersonated on various Internet platforms to perpetrate the fraud. The Ghana Armed Forces (GAF) has commenced its 2021 Enlistment process for Regular Career and Short Service Commission Officers.

This has been advertised in the Saturday 23 January 2021 edition of the Daily Graphic, and Monday 25 January 2021’s edition of the Ghanaian Times.

The anonymity provided by existing and emerging technologies makes it difficult for law enforcement agencies to track suspects, who in most cases use unregistered SIM cards to perpetuate this type of fraud.

Lack of basic security awareness, including cyber hygiene practices among the public, constitutes a critical vulnerability that is being exploited by cybercriminals.

While awareness on recruitment scams are being intensified by the NCSC, the public is being urged to report all suspected online activities or incidents to the National Computer Emergency Response Team (CERT) of the National Cyber Security Centre (NCSC), by using any of the following channels:

How to avoid becoming a victim of the scam

The following recommendations, if adhered to, will help to prevent this recruitment scam.

The GAF has not assigned any personnel to recruit via social media. All correspondence with personnel on social media is deemed unofficial. The public is advised to contact GAF through officially approved channels only.

The public is advised to verify the ongoing recruitment process directly from the GAF. Job seekers are advised to desist from applying for enlistment into the GAF through unapproved channels (agents and intermediaries).

Job seekers are advised not to entertain social media recruitment offers from their District / Municipal Chief Executives, Members of Parliament and Ministers, but should rather follow the official recruitment process prescribed by the GAF.

No Member of Parliament would approach any member of the public, with a job offer using social media platforms or demand any payment for recruitment into any public service.

Job seekers are advised to make payments for such recruitments, if required, through official channels (confirm this directly from the GAF). Job seekers can reach the Ghana Armed Forces directly through tel: +233-544338030 or Email: [email protected]

Ensuring due diligence and basic cyber hygiene practices are highly recommended.

Business processes reengineering to be driven by technology in the post Covid-19 era

February 15, 2021

…a do or die affair for businesses

Business processes of most companies are rigid and un-adaptive to technology. The company owners and management are very adamant about change and technology. They are not forward-thinking or innovative. They have refused to accept that the digital age has changed everything. Regrettably, they are the victims of business collapse because their processes cannot adapt quickly to technology. They need a Business Process Reengineering.

COVID-19 has unpardonably claimed precious lives. COVID-19 has revealed how Information Technology (IT) has permeated every facet of human lives. Even though in the last two decades we have seen the increasing usage of IT in many activities, some managers do not believe IT to increase efficiency. A lot of managers have refused to innovate and adapt to the IT world we have created. During the almost worldwide lockdown in the early stages of the COVID-19 pandemic, founders of tech companies increased their worth. The demand for IT services highly driven by IT soared. Sadly, when COVID-19 was taking precious lives, it was making some astoundingly rich.

Prior to the COVID-19 era, not so many organizations believed in staff working from home. There was no way MTN Ghana and Standard Chartered Bank Ghana, for example, were going to allow a large section of their staff to work from home. Working from home was preserved for privileged few senior managers and critical technical personnel. COVID-19 has proofed that with technology and the right resources in place, every work can be done from home. For example, MTN Ghana Call Center Staff and Standard Chartered Bank Relationship Managers worked from home.

Online shopping was doing well but those who thought they could be scammed had no option but to use these services. Virtual training was a no-go area for many but now, it is the most preferred option. The virtual meeting was meant for very top managers. But today, the next question when a meeting is announced is: can we have the meeting virtually? Delivery services indeed have seen a boom and continue to excel in this era. Why worry yourself to queue at the bank or ATM when you can conveniently use the bank’s mobile app to do every transaction? Prior to COVID-19, using ATM was even a challenge to many. Want to pay for goods and services? Even the charcoal seller has a Mobile Money account.

Most pastors and church leaders never believed in streaming church services live on social media. COVID-19 has taught them that, you can spread the Gospel of Christ to more audiences via social media than their limited physical structures. For the offering, the first item to catch your eyes is the rolling of the mobile money numbers at the bottom of the screen. They could hold all-night services and had 3,000 members connected instead of the 32 members in their church auditoriums.

In education, some teachers and lecturers never heard of Zoom until COVID-19 publicized it. I witnessed one scenario in the early stages of COVID-19 when one of the top universities decided to train lecturers on using Zoom and Moodle to deliver courses and assess students. One old professor said it was not possible to effectively teach mathematics and effectively assess students because of the numerous mathematical symbols. By the time we finished with the training, he alluded that online teaching is the best.

The concept of Telehealth or mHealth existed prior to COVID-19 but people showed no interest. Many patients, doctors, and other health professionals never believed in telehealth. You needed to see the physician physically for examination on every little health issue. Drug prescription must be done on the prescription form before it will be attended to. COVID-19 changed this perception and IT-phobia attitude in the health sector. Doctors have learned to diagnose patients via video calls without stress and get it right. People everywhere can receive professional health services without any issue. Pharmacies can deliver prescriptions to patient homes via courier or delivery services after diagnosis from telehealth services.

Companies, by the lessons from COVID-19, have now realized that they can reach more people with their products and services on social media than through the traditional mode of advertising. Company websites were either nonexistent or had never been updated five years ago when it was created. There was no need prior to COVID-19. Today, almost all the websites of many companies have been redesigned and the marketing manager demands a weekly report on the number of unique visits. The need for digital marketers is on the rise in the post-COVID-19 era.

Any business: big or small, that refuses, either deliberately or ignorantly, to embrace technology and reengineer its business processes to include IT will soon be out of business. The race is already on and the best time to review your business process to integrate new efficient technology is NOW!

The writer is the Data Protection Officer, Institute of ICT Professionals Ghana, and Data Privacy Consultant at Information Governance Solutions)

For comments, contact author [email protected] or Mobile: +233-243913077

“Creative Arts was catered for by NBSSI’’

February 15, 2021

Entertainer and Communications professional, George Quaye, has made a U-turn on accusations levelled at the National Board for Small Scale Industries (NBSSI) that the Creative Arts Industry received no support after activities in the sector ground to a halt with the outbreak of COVID-19 as a result of measures outlined by government to fight the pandemic.

The restriction imposed – i.e. the number of people who should attend events, closure of beaches, night clubs, cinemas among others – rendered many players in the sector jobless, and some are yet to recover.

The actor took to social media to express his disappointment at the NBSSI and lashed out at the government over the delay in providing a stimulus package for players in the creative arts sector.

But it turned out that most individuals within the sector had received their package on the blindside of the entertainer, who had accused government through the National Board of Small Scale Industries (NBSSI) of making empty promises to win votes.

“Until this evening, I was under the impression (based on conversations with some industry players) that very few had received their loans. Imagine my utter shock when I discovered this evening that, actually, many have received theirs, chopped it, and joined the rest of us who are yet to receive ours to ‘agitate’! Why?” he said in a Facebook post.

In an earlier post that is no longer available on his timeline, Mr. Quaye was talking about how bad the sector had been hit and went on to hit out at the NBSSI for delaying the disbursement.

“Is it the case that the money wasn’t enough, and after disbursement, to a rather small percentage of the sector it ran out?” he queried.

In his remorseful statement, he questioned the intention of people who received their loans and “still pretend you haven’t gotten a pesewa”.

“Is it to make the government look bad? Or is it just ingratitude?” he asked.

He said, “Your honesty or acknowledgement is enough to give the next person some level of hope that the funds will come eventually”.

The NBSSI is however yet to make clear the amount of stimulus it has provided to the creative arts sector.

Ericsson recognized for COVID-19 response leadership by Global Business Alliance

February 12, 2021

The Global Business Alliance (GBA) recognized Ericsson for its innovative contribution to combating the COVID-19 pandemic.

Throughout the pandemic, GBA members have utilized their expertise, resources and dedicated employees to combat the COVID-19 pandemic.

“What’s amazing about Ericsson’s story is how they mobilized their highly-skilled workforce to share their technical expertise in deep learning to help researchers better understand this disease,” said Nancy McLernon, president and CEO of the Global Business Alliance.

At the onset of the pandemic in the U.S., more than 350 Ericsson employees came together virtually as a volunteer team, leveraging automation and artificial intelligence (AI) techniques to create tools to accurately utilize the ever-growing set of academic papers published on the COVID-19 virus. In just 27 days, the team completed and submitted a solution for all nine tasks included within the federal government’s COVID-19 Open Research Dataset Challenge (CORD-19), which aimed to develop AI tools to help the medical research community address urgent questions posed by the pandemic.

“Ericsson employees have always been eager to jump in and help, leveraging our technology for good. It’s truly part of our culture where our employees embrace the responsibility to give back through selfless volunteering,” said Niklas Heuveldop, President and Head of Ericsson North America. “This was a very different challenge and a true testament to the resourcefulness and dedication of our team across the world, mobilizing quickly to help contribute to a solution for this global pandemic. Thank you Global Business Alliance for supporting international companies in the United States, and recognizing Ericsson for this award.”

Ericsson’s effort produced significant results in the form of research tools that enable medical professionals, public health officials and other leaders to synthesize the increasing volume of medical research on COVID-19 and related viruses that now consists of over 200,000 articles.

The Awards, which were presented by GBA in a virtual event streamed earlier, showcase the significant contributions that international companies make to local U.S. communities. Many international companies offer their employees the opportunity to volunteer and help direct the company’s corporate social responsibility efforts.

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‘A second lockdown will be disastrous for businesses’

February 11, 2021

Industry players in the Ashanti Region have warned of a gloomy outcome for businesses with any attempt by the government to impose a second lockdown as the second wave of COVID-19 infections surges.

The shutting down of major trading hubs and cities – including Kumasi, they concluded, will eventually collapse many businesses; particularly those in the small, medium and micro category.

Already, they said, many of these businesses are yet to recover from the fallout of last year’s lockdown, when business operations were halted in major parts of the country except for essential business operations, following the increase in number of positive COVID-19 cases.

The Regional Manager, Ghana National Chamber of Commerce & Industry (GNCCI), Ms. Jacqueline Bondzie, for instance said members who fall within the SME category depend on their daily proceeds to run their businesses.

Against this background, she noted that the partial lockdown that was placed on the city therefore adversely affected the turnover of many of these businesses. This, according to her, at the moment has made their ‘bouncing back’ very difficult.

However, she acknowledged that “some have been able to bounce back with help from the COVID-19 stimulus relief package” initiated by government and targetting SMEs.

It is in view of these developments that Ms. Bondzie stated that imposing a second lockdown on the city would spell doom for these businesses.

The Regional Manager of the Ghana Chamber of Commerce, who was speaking in an interview with B&FT, said the findings of a study by the Ghana Statistical Service indicates that about 90 percent of businesses could not recover from the lockdown. She therefore insists that another lockdown will be grave for businesses.

The Chamber, she disclosed, is focused on educating its members to observe the COVID-19 preventive protocols put in place by the government and health authorities, since “they cannot stand a second lockdown”.

“They are already faced with the uncertainties of how their sales are going perform daily, given that the market is now fixated on essential items,” she added.

However, she said, the Chamber of Commerce would like education on the preventive protocols to be deepened, while asking that any plans to impose a lockdown should be reconsidered.

She also said the general public, including business operators, need to know the seriousness of the implication from COVID-19 on their livelihood and businesses, and thus urged everyone to be actively involved in preventing spread of the disease.

The Area Manager of the Ghana Employers Association (GEA), Northern Sector, Mr. George Nyarko Aboagye-Attah, said while members in the manufacturing sector had to operate at half capacity, those in the hospitality totally halted work.

He therefore fears that a second lockdown will not only worsen the plight of employers but employees as well. “We are just starting the year after returning from the yuletide, and therefore going on lockdown again will cause a lot of employees to lose their jobs.”

Mr. Aboagye, while hoping a second lockdown will be reconsidered, also appealed for government to enhance the COVID interventions to businesses on the back of high cost of borrowing from banks.

It will be recalled that President Nana Addo Dankwa Akufo-Addo, in his first public update of the year on the measures against spread of COVID-19, hinted of a possible lockdown due to the rising numbers of active cases.

Even though the president admitted the situation could have negative effects on the economy and lives of Ghanaians – just as the previous lockdown did, he maintained it will be the only option to curb the menace.

“We do not want to go back to the days of partial lockdowns which had a negative impact on our economy and our way of life. But should that become necessary – that is, should the number of active cases continue to increase at the current rate – I will have no option but to re-impose the restrictions, because it is better to be safe than to be sorry,” he stated.

These pronouncements have raised the fears of many people, including industry actors – especially given the current alarming number of active cases – that a second lockdown may be inevitable.

As of Feb 9, 2021 the country had recorded 73,003 confirmed COVID-19 cases, with 6,938 being active cases. Out of this total, 675 are new cases while 482 deaths have so far been recorded. Meanwhile, discharged/recoveries stand at 65,583.

Afreximbank tops Bloomberg’s Africa Capital Markets League Tables

February 1, 2021

African Export-Import Bank (Afreximbank), has been ranked as Africa’s #1 mandated lead arranger in sub-Saharan Africa, according to Bloomberg’s 2020 full-year “Capital Markets League Tables.”

This assessment of the Bank’s transactions recognizes the institution’s leadership role in mobilizing capital from both within and outside of the continent from a diverse range of investors and stakeholders for the financing needs of borrowers in Africa.

As Covid-19 caused a sudden retreat of capital and investors from the continent, Afreximbank undertook decisive action and mobilized its significant partnership-building expertise, as well as fulfilling its role as a counter-cyclical financial institution, broadening access to commercial capital even for borrowers from those countries where access to international finance remains challenging.

Afreximbank’s MLA activity has greatly mitigated the current economic downturn for many borrowers – easing the rise of potential borrower defaults in the sovereign, financial institution, and corporate sectors – and contributed to general continued investor confidence despite economic adversity.

Afreximbank played a leading and enabling role in nearly all the landmark deals across Africa during 2020, mobilizing capital from investors comprising banks, institutional investors, ECAs, DFIs as well as guarantee providers, spanning from Africa, the US, Europe, Middle East, and Asia.

The Bank is delighted to have surpassed 2019’s second-place MLA ranking and is determined to maintain this momentum into 2021. Indeed, as the year ahead promises further challenges, with the continued menace of Covid-19 and associated economic difficulties, Afreximbank reiterates its commitment to close cooperation with all of its lending partners.

Afreximbank’s pivotal role in the African syndicated loans market is also reflected in the third-place ranking in the Administrative Agent category – a position reflecting significant progress since 2019 when the Bank was placed eighth.

The League Tables – published quarterly and annually – rank banks and financial institutions, in different categories, namely arrangers, book-runners, Administrative Agents and advisors across diverse transactions which include loans, bonds, and M&A activities. The Bloomberg Sub-Sahara Africa league tables exclude North-African transactions, and therefore do not constitute a comprehensive assessment of Afreximbank’s extensive syndicated loan activities in that important region.

Afreximbank very much sees its activities in the areas outlined above as complementary and supplementary to the operations of commercial banks in Africa.

Prof. Benedict Oramah, President of Afreximbank, said: “I am delighted to see the Bank’s important work in the African syndicated loans market recognized by Bloomberg. We are particularly pleased to be ranked Number 1 in the mandated lead arranger category. We are further encouraged by the dramatic improvement in the rating of the Bank’s Administrative agency work.

As trading under the African Continental Free Trade Agreement (AfCFTA) begins to gather momentum, the Bank expects to play a pivotal role, alongside other partner institutions, in financing intra-African trade and fostering the economic advancement of the continent and the growing prosperity of its people.”

The African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution with the mandate of financing and promoting intra-and extra-African trade.

Afreximbank was established in October 1993 and owned by African governments, the African Development Bank and other African multilateral financial institutions as well as African and non-African public and private investors.

The Bank was established under two constitutive documents, an agreement signed by member states, which confers on the Bank the status of an international organisation, and a Charter signed by all Shareholders, which governs its corporate structure and operations.

At the end of September 2020, the Bank’s total assets and guarantees stood at USD$20.28 billion and its shareholders’ funds amounted to US$3.13 billion. Voted “African Bank of the Year” in 2019, the Bank disbursed more than US$38billion between 2016 and 2020. Afreximbank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.

Fitch upgrades UBA Ghana’s long-term IDR to ‘B’: Outlook stable

January 25, 2021

UBA shows love to customers & staff on Val’s Day — Photo: Olalekan Balogun, MD/CEO, UBA Ghana

Fitch Ratings has upgraded United Bank for Africa (Ghana) Limited’s Long-Term Issuer Default Rating (IDR) to ‘B’ from ‘B-‘ and Viability Rating (VR) to ‘b’ from ‘b-‘. The Outlook on the Long-Term IDR is Stable. A full list of rating actions is below.

The upgrade reflects the strengthening of the bank’s capitalization and leverage, as reflected in the increase in its tangible common equity/tangible assets ratio to 26% at end-9M20, from 18% at end-2019, notwithstanding heightened operating environment risks from the global pandemic.

KEY RATING DRIVERSI

DRs AND VR

UBA Ghana’s IDRs are driven by its standalone creditworthiness, as expressed by its VR. The ratings reflect the concentration of the bank’s operations in the volatile Ghanaian operating environment, extremely high levels of impaired loans and company profile weaknesses. In addition, the ratings consider the bank’s comfortable, and strengthened, capital position, underpinned by its strong profitability, and solid liquidity position. The Ghanaian economy has fared comparatively well in the face of the pandemic and Fitch expects real GDP growth of 2% in 2020, recovering to 5% in 2021.

UBA Ghana’s company profile is weakened by limited business model stability, as reflected in high earnings volatility and sizeable shifts in balance sheet composition. UBA Ghana has small market shares of assets and customers deposits (2% and 3%, respectively, at end-9M20) but its franchise benefits from being a subsidiary of United Bank for Africa Plc (UBA Plc; B/Stable), a pan-African banking group. We expect the bank’s market shares to increase moderately over the next two years as management pursues an ambitious growth strategy.

UBA Ghana’s impaired loans (Stage 3 loans under IFRS 9) ratio (42% at end-9M20) is exceptionally high, reflecting exposure to several bulk oil distribution companies (downstream oil companies) that have struggled to service their debt due to delayed payments from the government. However, the loan book represents a small proportion of total assets (29% at end-9M20), with much of the balance being Ghanaian government securities (B/Stable). The bank’s small loan book and limited exposure to vulnerable sectors outside its already-impaired loans has helped to insulate asset quality from the economic implications of the pandemic.

Nonetheless, single-borrower credit concentration at the bank is high, with the 20 largest exposures (funded and unfunded) equivalent to a high percentage of total equity at end-9M20, exposing asset quality to the default of large borrowers.

Specific coverage of impaired loans (53% at end-9M20) is only modest, reflecting expectations of recoveries on the bank’s largest impaired loan (equal to 32% of gross loans, or 78% of impaired loans, at end-9M20). However, realisation of these recoveries has experienced significant delays and resolution of the exposure is uncertain, leaving the possibility that further loan impairment charges (LICs) will be required.

UBA Ghana delivers strong profitability, as highlighted by operating returns on risk-weighted assets that have averaged 12% over the past four full years. Profitability has been underpinned by Ghana’s high interest rate environment, which drives a wide net interest margin. However, earnings are highly reliant on net interest income, in particular interest income on government securities, and exhibit limited stability, reflecting changes in balance sheet composition and interest rates in recent years. Nonetheless, profitability has been resilient to the economic implications of coronavirus, with low LICs attributable to the limited impact on asset quality. LICs were equal to just 6% of UBA Ghana’s pre-impairment profit in 9M20 (2019: 2%).

Capitalisation and leverage have a high influence on the bank’s VR, having improved significantly owing to strong internal capital generation. UBA Ghana’s common equity Tier 1 (CET1) ratio (20.0% at end-9M20) is comfortably above minimum regulatory requirements. Reported net impaired loans were equal to 28% of total equity at end-9M20, but the largest impaired exposure is considered fully-impaired from a regulatory capital calculation perspective and therefore failure to resolve this exposure would not impact the CET1 ratio. UBA Ghana’s leverage is also very strong, as highlighted by a tangible common equity/total assets ratio of 26% at end-9M20, up from 18% at end-2019.

We forecast the CET1 ratio to remain broadly stable at end-2021 despite strong loan growth envisaged by management, supported by UBA Ghana’s intention to conserve capital and current regulatory guidance against dividend distributions in respect of 2020 earnings.

Reliance on non-deposit funding tends to be low and accounted for just 3% of total funding at end-9M20. Nonetheless, the deposit base has weaknesses, as reflected in only a limited share of retail deposits, material reliance on less stable and more expensive term deposits and, most importantly, very high single-depositor concentration.

UBA Ghana’s low loans/customer deposits ratio (54% at end-9M20) is reflective of a highly liquid balance sheet. Ghanaian government securities, bank placements and central bank reserves dominate the balance sheet, resulting in strong liquidity coverage that mitigates funding weaknesses.

SUPPORT RATING

Fitch’s view of support considers UBA Plc’s high propensity to provide support given its 91% ownership, common branding and the high level of management and operational integration between UBA Ghana and the wider group. Our support assessment also considers UBA Ghana’s strategic importance to the group’s regional network and ambitions as a pan-African banking group, despite the bank accounting for a small proportion of group assets (3% at end-1H20).

However, we consider that support from UBA Plc or from within the group, although possible, cannot be relied on, notably due to the cross-border nature of the parent-subsidiary relationship. We also believe that there is a risk of regulatory restrictions in Nigeria, particularly concerning foreign-currency flows out of the country, that could constrain UBA plc’s ability to provide timely and sufficient support to its foreign subsidiaries.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative rating action/downgrade:

Stronger than expected loan or balance sheet growth or material asset quality weakness that exerts significant downward pressure on capitalisation and leverage. This may be indicated by a decline in the bank’s tangible common equity/tangible assets ratio to around 12%.

A sovereign downgrade would result in a downgrade of the Long-Term IDR and VR, given that the bank does not meet Fitch’s criteria to be rated above the sovereign. However, this is not our base case given the Stable Outlook on Ghana’s Long-Term IDR of ‘B’.

Factors that could, individually or collectively, lead to positive rating action/upgrade:

An upgrade would require a sovereign upgrade and an improvement in the operating environment, including increased macroeconomic stability.

A significant reduction in credit and single-depositor concentrations.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from ‘AAA’ to ‘D’. Best- and worst-case scenario credit ratings are based on historical performance.

The black frontline

January 21, 2021

COVID numbers. Testing positive, recovery, deaths. Numbers dominate the story of this pandemic. We have gathered around television screens to listen to President Akufo-Addo’s regular address, during which his ritual of revealing the numbers often drew sighs of relief that Ghana was nowhere near the devastating death tolls and cases of the UK and the USA. In those nations, their numbers are unimaginable nightmares, and continue to spiral upwards.

Numbers are a narrative. Data offers a way of engaging COVID.

Every number is a story – of a life, of dreams, of family, loved ones, a future. The deaths are of love being grieved, an empty chair at a dinner table, a funeral we were not able to go to – a mourning behind masks.

Our stories matter. For us traditionally, the story is a particular power – it is drum, clarion call, warning, it is rainbow. It tells of our future and the past, it wraps the present in a package that helps us better understand it, confront it and engage it.

So, it matters that we create paths to tell stories about COVID. Additionally, it matters that those stories serve a purpose beyond their simple, but crucial telling.

That’s why The Black Frontline project matters. It’s an oral history project that frames the pandemic through the lens, stories and experiences of 300 global Black doctors and nurses in three cities on three continents – Accra, London and New York. It’s a multi-year project, the stories are a tool and a strategy that connects to structural change. That change is about strengthening the healthcare systems and sector of each location, reducing inequity and better serving the Black doctors and nurses and patients.

In the USA and the UK, a disproportionate number of cases and deaths were within the Black community, igniting coverage and discussion about systemic inequity and its manifestation in healthcare systems. For us in Ghana, COVID further highlighted the long-standing fragility of our healthcare system, and the long-standing strength of our community system.

We think of the healthcare sectors as bricks and mortar buildings, with adequate, effective, high-tech equipment, sufficient beds, well-trained staff. COVID has taught us that a necessary and powerfully effective institution is also community, care, seeing the humanity of people and treating them accordingly.

The idea of wearing masks, socially distancing, following protocols that protect you and your neighbors, family and community are ideas from the science. In the US that became deeply politicized. Conspiracy theories thrived as a US leader abandoned their presidential pulpit to peddle theories that served individual power-hungry dreams, feeding the fears of those who cast science as hocus pokus, and turned a superpower into a super spreader. Here in Ghana, vigilance gave way to complacency. Our latest numbers reveal 13 of the 16 regions have COVID cases. There are spikes in Accra, beds in the intensive care units are full, and we face the imminent possibility of another lockdown.

COVID stories, analysis and focus will continue for time untold. Loss became the soundtrack of 2020 in nations where Ghanaians had family. Fraught and fighting on frontlines and faultiness of race and its multiple crises, we were a virtual world in a global village where the new drum was Zoom.

It is now the beginning of 2021. We are all tired of Zoom, but we will continue to be virtual as we replace vigilance for complacency and imagine COVID will somehow pass over our nation.

As you read this, the 46^th president of the United States has been inaugurated, and the one term president who made chaos, division, fake news the new normal that terrorized and terrified millions is gone. Here, we have a President for a second term who also faced a contested political victory, and sparks of violence triggering painful memories of a past where the bullet replaced the ballot. Thankfully cooler heads prevailed, legal methods are being pursued, and there is a new normal in our Parliament where compromise between two major parties is now a must.

In his State of the Nation address, the President declared healthcare infrastructure and recruiting more doctors and nurses would be a major focus of his second term. For the doctors and nurses working on the COVID frontlines, a space to hear their stories and have those stories inform how we strengthen our health care sector is crucial.

The Black Frontline is an oral history project by The Armah Institute of Emotional Justice with COVID Black, endorsed by the Ghana Medical Association – Greater Accra Region. The project is currently gathering stories from 50 doctors and 50 nurses in Accra as a contribution to this global project.

Follow: @TheBlkFrontline..Full project details:- https://buff.ly/3q9vAf6

An Open Letter to a Gender Champion President

APPOINT MORE WOMEN!

Dear Mr. President,

Your second term has begun.

I would like to introduce you to the Vote4Women campaign with the hashtag #AppointMoreWomen. It’s a non-partisan political effort aimed at increasing the number of women in governance and leadership. How powerful to witness the campaign that has lit up social media introducing us to women with powerhouse credentials. How sadly necessary to once again call on your office, your party to push for the kind of representation in our politics that reflects our nation, and brings fresh ideas, vision and leadership to a politics so often marred by outdated ideas that do not serve a nation’s progress and its citizen’s fullest realization of their skills and talents.

Numbers are instructive here. From 1992 to 2016, a total of 1,610 members were elected to Ghana’s Parliament. Out of this number, only 94 were women. Right now, 40 of the 275 MPs are women. Just 40. Women have always made up a cool 50% of our nation’s population.

This letter is not about making a case for gender. That too is the issue. Women are citizens; therefore our case has been made. We still need to say that women are citizens, and should have the fullest access to all areas of a nation, including governance and leadership.

So, here we stand. This becomes a question of your legacy, Mr. President. The titles have been showered on your office, they have ignited initiatives. The ongoing call is for the kind of governance and leadership within politics that feeds the progress we claim we want.

Each of us has a role to play. Each of our roles is not the same, does not carry the same power or weight, but each is vital in contributing to improving the whole. So, this letter is to engage you to do your work, make action your path, leave the rhetoric in the first term, and turn the noise of politics to the increased numbers of women in governance, as well as Affirmative Action bill implementation. I have spent too many columns writing about the Affirmative Action legislation – a bill that has attracted ire, controversy, advocacy, activism, discussion, derision, campaign upon campaign – but remains unimplemented as we enter your second term.

The barriers to appointment have always been the same. The barrier is a belief system backed by unwritten but staunch policy and discriminatory practice, masquerading as culture. Women lead, no nation works unless they do. It is not a question of capability, but of willingness to do the hard work of confronting that element of our society that elevates women in spaces where they serve men, but chastises them if they seek spaces where they lead men. Power is not a gendered possession.

So, in conclusion, Term 2 here you come. Here we come too. One message, one call to action. Appoint more women.

Sincerely yours,

1 of the 50%

***

Esther Armah is Executive Director, The Armah Institute of Emotional Justice, a global institute implementing a visionary framework for racial and cultural healing. Headquartered in Ghana, it is also registered in the US and the U., The Institute does 3 things: Projects, Training, Thought Leadership. Website: www.theaiej.com.

Active private pension contributors overtake Basic National Scheme

January 18, 2021

While active private pension contributors stood at 1.7 million in 2019, those on the Basic National Social Scheme (BNSS) managed by the Social Security and National Insurance Trust (SSNIT) was 1.6million.

Not only do Private pension funds have the highest number of active contributors its assets reached a record high of GH¢17.3billion in 2019 from GH¢13 billion the previous year, nearly a decade on since the introduction of the three-tier pension system.

Meanwhile, those managed by SSNIT ended 2019 with net assets of GH¢8.9billion – negative growth of about 3 percent, which is an improvement on the 2018 growth of negative 5 percent.

Per the National Pensions Act, Act 766, the first tier – or the BNSSS – is managed by the SSNIT, while the second tier is a defined contributory Occupational Pension Scheme mandatory for workers with 5 percent contribution made on behalf of members; and the third tier, which is a voluntary scheme and includes all Provident Funds and all other pension funds outside Tiers I and II, is privately managed by both corporate trustees and fund managers.

The figures contained in the 2019 report of the NPRA show that the country’s total net assets available for benefits in the pensions industry now stands at GH¢26.3billion (US$4.8billion) by the end of 2019. This value represents a significant increase in pension funds of 18 percent compared to the 7 percent recorded in 2018.

In terms of active employers, the data indicates that under the BNSS, there are 68,000 active employers against 700,000 for private-sector pensions.

The report also shows that while the active labour force in the country is over 11 million, comprising over 3.2 million formal sector workers and over 7.9 informal sector workers, only 3.3 million of them are active pension contributors.

This implies that a vast majority of the current active labour force are without any form of social protection and will have to depend on the benevolence of family and friends when they are no longer in active service.

This could have implications on poverty and life expectancy indexes of the country.

The Authority credits the growth of private-sector pensions to its ongoing efforts toward ensuring compliance with the mandatory second tier in the formal sector – adding that the activation of public sector schemes and the acquisition of prosecutorial powers also contributed greatly to the growth recorded.

January 2021 marks exactly 11 years of implementation of the three-tier pension system in the country.

BoG to arrest cedi’s depreciation with US$775m injection

January 18, 2021

Inflation, fiscal, debt pressures keep policy rate static again — Photo: Dr. Ernest Addison, Governor Bank of Ghana

US$300m for Q1 alone
Economist says the outlook is positive

As part of measures to ensure the economy has a stable local currency for the year, and especially in the first quarter when demand for forex is high, the Bank of Ghana (BoG) plans to inject a whopping US$775million through its FX forward auction programme to achieve this objective.

Out of this amount, US$50million will be pumped into the economy bi-weekly till the end of the first quarter. Then from the second quarter, it will be slashed by half till the end of the year. What this essentially means is that US$300million will be injected into the economy in the first quarter alone to shore-up the cedi.

The data show this strategy has started bearing good fruit, as since the beginning of the year to Friday, Jan 15, 2021, depreciation of the cedi against the dollar has been infinitesimal – recording just 0.001 percent – using the central bank’s mid-rate as the basis for computation.

Usually – with the exception of last year when the coronavirus pandemic halted international trade, which resulted in an appreciation of the currency – the cedi sees a sharp depreciation in the first quarter each year, mainly due to high demand for forex from importers to settle their bills.

An analyst with Data Bank Research, Courage Martey – sharing his thoughts in an interview with the B&FT on how the cedi will perform against its major trading currencies this year, said the FX forward auction by the central bank is timely and appropriate and will go a long way to cushion the local currency as pressure from traders is bound to happen; especially when the economy seeks to embark on a recovery programme.

“The Bank of Ghana has issued the FX forward calendar for this year, and what we notice is that for the first quarter of this year they are seeking push US$50million dollars every two weeks for the first quarter of this year, and this is two times the size they intend to allot after the first quarter.

“So, we see a signal of firm commitment to support the cedi during the first quarter, which is normally a difficult period for the cedi every year. And this has given us reason to be confident that in addition to the foreign inflows, the FX forward auction by the central bank will support the cedi’s stability in the first quarter,” he said.

On his general outlook for the cedi, Mr. Martey said despite lingering potential shocks, Data Bank Research projects the currency to be fairly stable – given signals from foreign investors and the US$5billion Eurobond government plans to borrow from the international market.

“We anticipate a generally stable first quarter for the cedi. That is not without the potential shocks that could happen. We are not overruling the argument that a steady recovery in economic activity is going to increase forex-demand for international trade. We also cannot overlook the fact we have just emerged from an election and the potential liquidity overhang from the election is pending; so these dynamics could indicate some shocks to the currency, especially as businesses try to restock.

“But then, we are also looking at other factors which could mitigate those risks. For instance, from the portfolio side, we are seeing increased foreign portfolio appetite for our local currency and securities, and that is pushing some forex into the system. In the meantime, if this is sustained it will help the short-term supply of forex for the first quarter of the year. This is happening because the second wave of COVID-19 is keeping interest rates lower longer than expected in Europe and America, and so the search for higher yields is bringing investors back to our market.

“We also cannot forget the government’s Eurobond, which is expected to come in the first quarter this year. This will strengthen the central bank’s coffers. So, overall, we believe that the cedi will experience relative stability for the first quarter,” he said.

Ghana records new variant of COVID-19

January 18, 2021

President Akufo-Addo has announced that Ghana has recorded cases of the new variant of COVID-19, from airport arrivals, as the figures keep rising with 200 new cases every day.

He stated that the infected persons have been isolated to prevent the new variant of the disease from spreading among the public.

The discovery of the new COVID-19 variant cases follows a recent genomic sequencing undertaken by scientists, of passengers arriving in the country.

Currently, the country’s COVID-19 infections stand at of 1,924 cases, with treatment centers projected to be getting full. Of this number, 120 cases are said to be severe while 33 cases are described as critical.

The number of confirmed deaths has increased to 352 from 338.

In view of this development, the Police Service has been instructed to ensure the rigorous enforcement of the law on mask-wearing at all public places and in public transport.

President Akufo-Addo said “they are also to ensure the closure of all night clubs, pubs, cinemas and beaches that may be operating in defiance of the law. They will be assisted by the other security agencies if need be.”

The President, who was addressing the country for the 22nd time on measures taken against the spread of COVID-19 cautioned that if the current situation persists the country would return to a state of lockdown.

PKF inaugurates new office building in Kumasi

January 18, 2021

Photo: Akyempimhene Oheneba Adusei Poku cutting the tape to officially open the PKF new office facility

The internationally acclaimed chartered accountant and business advisory firm PKF has officially opened its newest state-of-the-art office facility at Daban New Site in Kumasi, as it begins the 2021 year with a commitment to continue pursuing excellence in its operations.

The Resident Manager of PKF Kumasi, Ms. Aisha Tiwaa Gyasi, said the path to success for the firm – which has been in practice in Kumasi for about 60 years of its 70-year existence in the country – has not always been pleasant.

However, she observed that despite the challenging times encountered, the firm is reaching greater heights. “As old as 71 years, PKF Ghana can be said to have gone through what is termed the theory of product life cycle, which includes growth maturity, saturation and decline.”

With new strategies being adopted, Ms. Gyasi said PKF is on the rise again – adding that they are resolved to be excellent in everything the firm offers.

She further called for continuous support from stakeholders to help the firm fulfil its quest for excellence.

Photo: front view of the new PKF office in Kumasi

Ms. Gyasi, who was speaking at a short but colourful ceremony to open the new Kumasi office building, noted among other things that construction and commissioning the office building marks a milestone for their operations in the Ashanti Region.

PKF Ghana is a member of PKF International Limited and has played a pivotal role in helping to establish the Institute of Chartered Accountants Ghana (ICAG). PKF has trained many Accountants, chartered and yet to charter, who are playing very significant roles in many businesses in Ghana and elsewhere.

PKF International has a global network that reaches into over 150 countries, serviced by over 480 offices.

The new ultra-modern office building was designed and constructed by FRAMAC Construction and Engineering Limited in 8-month duration. It is made up of offices, conference facility, registry, reception, among others.

The Managing Partner of PKF Ghana, Mrs. Nana Abena Adu-Gyamfi, noted that particularly given the rich history and culture of the region, PKF Ghana is delighted to have its own office facility in Kumasi.

She said PKF is poised to challenge the marketplace, and “with our high quality of work and the relationship we have with our clients, we believe that we will be able to achieve this and far more”.

While appreciating the partnership with FRAMAC Construction and Engineering that led to the construction of the new office building, she stated the facility “testifies to the new breath that is coming into PKF”.

Mrs. Adu-Gyamfi is optimistic that given time PKF will become a household name with every business across the country.

The Akyempimhene, Oheneba Adusei Poku, was the special guest of honour at the ceremony to commission the new office building.

Standard Chartered Bank clients to win bountiful rewards in its SC Mobile Season of Surprises Campaign

December 24, 2020

Mansa-Nettey-StanChart-Gh — Mansa Nettey, Managing Director, Standard Chartered Bank Ghana

Clients of Standard Chartered Bank have a fine opportunity to end this year on a high following the unusual experience of Covid-19 pandemic.

The Bank has lined up a list of goodies in its Season of Surprises to put smiles on the faces of its customers this festive period.

One customer stands the chance of driving home a brand new sleek Citreon C5 Aircross from Silver Star Auto –the ultimate prize—while there will be loads of other exciting goodies to light up the world of lucky customers in this season of surprises.

Also, from now till the end of the year, customers could get the opportunity to fill up the fuel tanks or a chance to go 60-seconds free shopping at Shoprite.

To stand a chance, new customers would have to download the SC Mobile App from either the Google Playstore or the Appstore and make a deposit of GHS200.

For already existing clients, they just have to make a deposit of at least GHS200 to be eligible.

SC Mobile allows clients to open an account within 15minutes on the mobile banking app. Apart from making local and international money transfers, SC Mobile has a groundbreaking feature that allows clients to access a variety of financial services from within any social or messaging platform without having to open the Banking app with the “SC Keyboard”.

SC Mobile has won numerous awards in the Digital Banking space locally and internationally. Recently, it was adjudged the Best Banking App at the Ghana Information Technology and Telcom Awards (GITTA)

12 Days of Christmas for SC Mobile Customers

December 24, 2020

The Yuletide is a season we all look forward to. From holidays, to parties and the exchange of thoughtful gifts, Christmas will always be the season to be jolly and if not all the time, then perhaps once in a lifetime, we have all wished that every day was Christmas.

Like many things in this world, Christmas comes as quickly as it goes and although the reason for the season is giving, not many are fortunate to receive. Standard Chartered Bank Ghana Limited is takings its brand promise ‘Here for Good’ a tad further by rewarding cherished clients this Christmas.

For twelve days of Christmas, Standard Chartered Bank in partnership with Vodafone Cash, is giving customers who open and fund their SC Mobile accounts with Vodafone Cash, the opportunity to win data, an iPhone 12 and a PS5.

Running from 18^th December 2020 to 31^st December 2020, customers and prospective winners are expected to open an SC Mobile account, fund the account via Vodafone cash within the promotion period and meet the terms and conditions in order to win the prizes at stake.

To win an iPhone 12, the requirement is to be a top account funder for each day of the twelve days of the promotion. Additionally, the top 2 clients with the highest balance growth after 30 days will win a PlayStation5 console each, while the first 10 clients to submit their account opening applications daily, win data rewards from Vodafone.

To participate in the 12 days of Christmas from Standard Chartered Bank Ghana Limited, download the SC Mobile App, open an account, fund and continue to top up the account with Vodafone Cash and stand the chance of winning an iPhone 12 and the much-anticipated PlayStation5 for Christmas.

After the tough and challenging year, this is definitely the kind of Christmas we all need, so hurry and don’t be left out of this exciting promotion from Standard Chartered.

GEPA eyes visual arts to drive NTEs

December 22, 2020

The Ghana Export Promotion Authority (GEPA) is seeking to harness the potential of the visual arts to drive receipts from Non-Traditional Exports, its Chief Executive Officer, Dr. Afua Asabea Asare, has disclosed.

With renewed focus on contemporary Ghanaian art, particularly paintings, as well as the unbridled prospects of initiatives such as the African Continental Free Trade Area (AfCFTA) as well as the ‘Beyond the Return’, she expressed belief that the time is ideal to promote indigenous art for their cultural and commercial value.

Pointing to the numerous African artifacts which are displayed in museums and galleries across the globe as well as the interest garnered by the works of persons such as Ben Enwonwu, she debunked the view that African art is inferior to its counterparts from Europe and Asia.

Speaking to the B&FT on the sidelines of the launch of the maiden edition of Sound Out Art Exhibition, she argued that more has to be done to properly promote contemporary Ghanaian art and artists and stated that a proper pricing mechanism, which truly reflects the value of the pieces is crucial to achieving this.

“At exhibitions the world over, we continue to see the quality of works of African and in particular, Ghanaian artists. The drawback has been a lack of promotion; the narrative that goes with what we are selling and that is something that we haven’t really crafted well. It is time to review the way we project, market and sell our art, and that is the reason for this exhibition… We have to reposition ourselves as sometimes, the way we price our items gives off the wrong impression,” she said.

CEO of the Ghana Investment Promotion Center (GIPC), Yofi Grant echoed the sentiments expressed by Dr. Asare, as he called for infrastructure and public support to drive indigenous art. He stated that the rich culture and numerous aesthetics from the continent, which has been adopted beyond its shores, will come to maturation when the largest free trade comes into effect.

Mr. Grant believes that Ghana is primed to be a visual arts hub on the continent, akin to Hong Kong in Asia. He predicts that in the near future, art will be seen not only for its aesthetics but as a store of value and alternate investment vehicle. “Not before long, we will begin to see our art valued as it ought it be,” he added.

The art exhibition, which was held in collaboration with the Ghana Tourism Authority saw exhibition on canvas from seasoned Ghanaian artists such as Sami Bentil, Wiz Kudowor, Afua Asabea Asare, Nicholas Kowalski, Rojo Mettle-Nunoo, Amarkine Amarteifio, Martin Dartey, Victoria Adoe and Godwin Adjei Sowah.
Others include Betty Acquah, Kojo Danku, Gabriel Eklou, Larry Otoo, Nana Yaa Omane Peprah, Samuel Prophask Asamoah, Daniel Kukubor, Nana Kwasi Agyare, Kwesi Nyarko, Seth Clottey and Kobina Nyarko.

Quicktel Limited grabs top award in MTN MoMo Awards in Kumasi

December 20, 2020

IMG-20201224-WA0001 — Photo: Mr. Haruna Muhammed of Quicktel Limited being presented with the keys to his vehicle

The Quicktel Limited, from Buipe in the Savannah region, was adjudged the overall winner at year’s MTN Northern sector MoMo Awards, held in Kumasi.

The operators of the firm, led by Mr. Haruna Muhammed for the ultimate recognition, took home a brand new 4×4 Toyota Rush.

Meanwhile, some two hundred and fifty other MTN Mobile Money (MoMo) merchants, and agents also won various categories of awards leaving during the awards ceremony. This includes certificates, phones, tablets, laptops, television sets, motorbikes and other cash prizes.

The MTN MoMo Awards, is held annually around the country to recognize hardworking partners for their contributions to the success of the brand.

The Managing Director of Mobile Money Limited; a subsidiary of MTN Ghana, Mr. Eli Hini expressed profound gratitude to the awardees and all who through their activities promote the growth of the MTN brand and MoMo.

He said merchants and agents showed great resilience and worked hard during the period of the lockdown to avert a downward spiral of MoMo and the country’s banking system.

Mr. Hini entreated users of the platform to guard against activities of fraudsters noting that every good system is only as good as its weakest link. “Clients should avoid disclosing their PINs no matter what as MTN will not call you and demand your PIN under any circumstance.”

He said they should also strive to do their own transactions instead of making others do their transactions on their behalf while observing that MoMo fraud will soon be a thing of the past with such vigilance.

He assured that his outfit will continue to do all that is possible to protect MoMo users.

The colourful ceremony, held at the Golden Tulip Kumasi city was exciting with Ghanaian musician Kelvyn Boy thrilling the gathering with some of his hit tunes and MC Mikki Osei Berko exciting participants with lively jokes and comments.

MUFG leads ground-breaking $520 million COVID-19 response facility for Afreximbank

December 14, 2020

Mitsubishi UFJ Finance Group MUFG, a leading global financial services group, one of the largest banking institutions in Japan and African Export-Import Bank (Afreximbank) have closed a ground-breaking $520 million facility, the first to be covered by Nippon Export and Investment Insurance (NEXI).

NEXI’s proactive support for this facility was agreed on the basis of Afreximbank being a strategic partner, participation from Japanese investors, and the deal contributing to the UN’s Sustainable Development Goals (SDGs).

MUFG was the sole Mandated Lead Arranger, Bookrunner, Agent and NEXI Coordinator on the transaction, with the documentation closing recently.

The facility fully aligns with Afreximbank’s strategic priorities in the area of intra and extra African trade and investment, export manufacturing, as well as industrialisation. These objectives find common ground with NEXI’s objectives of supporting sustainable African growth and development in line with TICAD objectives.

Afreximbank will use the proceeds towards its Pandemic Trade Impact Mitigation Facility (PATIMFA) which was launched in March 2020 to help African sovereigns, commercial banks and corporates to weather the impact of the crisis due to the COVID-19 pandemic.

The facility will support the Bank’s interventions in response to the COVID-19 pandemic and will be used to finance trade and trade-related investments which contribute to the sustainable development of the socioeconomic, health, manufacturing, environmental, agri and agri-related sectors across the 51 African Member States of Afreximbank.

Working together with NEXI and Afreximbank, MUFG was able to access under-utilised Japanese liquidity, resulting in an extremely successful outcome of distribution to Japanese investors, many of which were new investors for Afreximbank. This follows in the footsteps of two Samurai loans for Afreximbank in 2017 and 2019, including the largest ever Samurai Loan for an African issuer.

Speaking on the transaction, Christopher Marks, Head of Emerging Markets EMEA, commented: “This facility marks a watershed moment for African institutions looking to tap the Japanese investor pool, and we couldn’t be prouder to have played a leading role. It goes without saying that we are delighted to have once again partnered with Afreximbank, who are not only leading the way in terms of bringing in new investment and growth opportunities to Africa but also providing vital support to the region in the face of the COVID-19 pandemic.”

Amr Kamel, Afreximbank’s Executive Vice President for Business Development and Corporate Banking said: “The successful implementation of this facility is a testimony to the great collaboration and innovative approach adopted by MUFG, NEXI and Afreximbank and demonstrates the power of using public resources to leverage private financing for development. We expect strong and sustainable development outcomes by effective implementation of this facility, including employment creation, increased economic activities, and increase in tax revenues for fiscally strained governments, amongst other outcomes.”

Huawei announces global release schedule of EMUI 11 update

December 14, 2020

Huawei, the world’s leading technology company has announced the rollout of its new EMUI platform, EMUI 11, for an initial 14 flagship Huawei smartphones. Launched during its Global Launch Event on October 22nd, EMUI 11 brings a range of new software features, improvements to privacy and security, as well as a smoother and more intuitive user experience to help Huawei devices stay faster.

Devices included in the update are as follows:

HUAWEI P40, HUAWEI P40 Pro, HUAWEI P40 Pro+, HUAWEI Mate 30, HUAWEI Mate 30 Pro, HUAWEI Mate 30 Pro 5G, HUAWEI Mate Xs, HUAWEI nova 7, HUAWEI P30, HUAWEI P30 Pro, HUAWEI Mate 20, HUAWEI Mate 20 Pro, PORSCHE DESIGN HUAWEI Mate 20 RS, HUAWEI Mate 20 X, HUAWEI Mate 20 X (5G), HUAWEI nova 5T, HUAWEI MatePad Pro, HUAWEI MatePad Pro 5G and HUAWEI MediaPad M6.

The initial rollout will be in two phases. The first phase will include the flagship devices HUAWEI P40, HUAWEI P40 Pro, HUAWEI P40 Pro+, HUAWEI Mate 30, HUAWEI Mate 30 Pro and HUAWEI Mate 30 Pro 5G, which receive the update by December 2020. All remaining devices will receive the update by March 2021. The update will be pushed by Huawei Over-the-Air (HOTA).

What’s new in EMUI 11

Standout design and smoother performance

From a design perspective, EMUI 11 offers a new-generation Always-On Display (AOD) experience with the addition of a new modern art style. Comprising mainly red, yellow and blue colours, the new AOD uses seemingly simple lines to depict a sense of inimitable elegance that seizes the attention of the beholder. The colour palette can also be customised. Instead of primary colours, users are free to personalise their AODs by choosing from an expansive spectrum of colours. Alternatively, users can use the colour extraction technology built into the feature by taking a photo of their clothes, purse, shoes or other accessories to generate a bespoke set of custom colours.

The support for the feature varies depending on the device model.

Integrating visually engaging imagery with intuitive interactions requires not only an aptitude for artist expressions but also extensive research into how people process information – also known as human factors research. EMUI 11 introduces Long-take Animations. Inspired by its namesake technique in the field of cinematography, these animations leverage the shared content or areas between two interfaces to produce a smooth transition from one to another. This ensures focus continuity, allowing users to keep their eyes on the most important and active parts of the screen, all the while enhancing visual smoothness and providing a substantial boost to visual recognition efficiency.

Existing users should be no stranger to EMUI’s Smart Multi-Window, Edge Panel, Floating Window and Multi-tasking features. EMUI 11 introduces an improved Smart Multi-Window experience. The new operating system allows users to open multiple Floating Windows at once. These windows can be minimised to the new Quick Ball, which can be expanded to show all collapsed windows quickly with a single tap. Further, in response to user feedback, EMUI 11 adds support for adjustable windows – re-sizing is as easy and effortless as dragging a corner of the window.

Productivity-boosting Multi-Screen Collaboration gets an update

Huawei’s distributed technology on EMUI 11 brings new improvements to smartphone-notebook and tablet-notebook Multi-Screen Collaboration. At the time of launch, users could have two concurrent active smartphone apps running on a PC (future updates will bring that to up to three). With the update, users can easily compare prices between two online retailers, respond to text messages while catching up on TV show, or enjoy complete control with stock quotes showing on one window and a trading platform on another.

Personal data stays personal, always

In today’s information-driven world, Huawei remains committed to safeguarding user privacy with innovation. At present, EMUI 10.1 already supports Password Safe and more user-centric privacy features. Augmented with the CC EAL5+-certified TEE OS microkernel, EMUI offers comprehensive security protection for users. EMUI 11 builds upon the strong foundation with the introduction of Encrypted Memo, which secures personal memos behind a password or biometric check. Sensitive data on captured photos, such as location, time and model of the device used to create the image, can easily be purged from the media, preventing malicious actors from using the data for fraudulent purposes.

EMUI 11 improves the all-scenario experience

From the new UX design delivering beautiful visual and interaction experiences to powerful new enhancements to the Multi-Screen Collaboration and Smart Multi-Window offering a multi-tasking efficiency boost, EMUI 11 is shaping up to be a massive improvement over its predecessor. Since the launch of EMUI 10, Huawei has greatly accelerated the pace of the update roll-out. And with EMUI 11, Huawei reaches another milestone with a beta programme ready at the time of the OS announcement, a testament to Huawei’s commitment to the existing Huawei device user base.

Experience powerful all-round performance with the New Huawei Y8s

December 14, 2020

Huawei’s Y series smartphones are designed to provide users with access to a powerful smartphone experience even at a friendlier price point. The newest addition to the series, the HUAWEI Y8s continues in the same tradition and brings to the table excellent handheld night photography with a 48MP AI Dual Camera system and powerful all-round performance, all in a stylish design. We got our hands on this new smartphone and here is what we think.

48MP AI Dual Camera

Smartphone cameras are the rage these days, with certain smartphone brands focusing more on the camera more than other features. Huawei is known for putting some seriously powerful camera setups in its smartphones and it continues this trend with the HUAWEI Y8s. Packing a 48MP AI dual-camera setup, which consists of a 48MP main camera and a 2MP Depth Camera, users can take stunning photos and videos complete with rich aperture effects.

However, the highlight of this camera setup is in fact its low-light capabilities. The HUAWEI Y8s’ Handheld Night Mode is a class of its own, mainly attributed to the increased light intake from the large sensor and AI algorithms that remove noise and stabilize the image, all resulting in a perfect shot in dimly lit environments as well. All it takes is scrolling to the Night Mode on the camera app and you can take images with up to six-second exposure. We tried this on city skylines and even in outdoor conditions at night and were stunned by the results.

The 48MP AI Dual Camera setup also delivers solid results when it comes to shooting in slow motion at 480 fps to capture minor details in perfect slow-mo, while its Portrait Mode ensures beautiful portrait shots with rich bokeh effects that blur the background lights in designs and patterns. However, a key player here is the Master AI which not only assists in these shots but also recognizes over 500 scenes in 21 categories, including blue sky, snow, plants and more, which then optimizes each shot to come out perfectly.

Meanwhile, upfront the HUAWEI Y8s comes with a dual-camera setup as well. The AI Dual Selfie Camera comes with an 8MP main camera and a 2MP Depth Camera, which contributes towards real-time bokeh effects for selfies, while the AI noise reduction algorithms optimize brightness and reduce noise for low-light selfies.

Bigger View, Trendy Design

At a first glance, you will notice that the HUAWEI Y8s has quite a large display. This massive 6.5-inch HUAWEI Notch FullView Display boasts an FHD+ resolution of 2340 x 1080 and is optimized for a more immersive viewing experience. Try watching movies, series or even play games on the smartphone and it is this display that makes the experience much better. Additionally, the screen brightness can also be adjusted under the sunlight for clearer viewing of text and images at any time of the day. The display also has a TÜV Rheinland-certified Eye Comfort mode that can help you relieve eye fatigue by lowering the intensity of blue light emitted from the screen.

Meanwhile, on the back, the design ethos of the HUAWEI Y8s truly stands out. This gorgeous back panel comes in two simple and chic colour options while boasting a 3D arc design for a comfortable grip. The colour variants of Midnight Black and Emerald Green depict a dark night and elegance respectively, while its distinguished manufacturing process is evident in the final finish. This design is also quite dynamic and gives a different look depending on the angle from which light strikes. The back of the phone is topped off with the fingerprint sensor as well. Alternatively, users can also use the Face Unlock 2.0 feature to secure their HUAWEI Y8s.

Powerful Performance

The true quality of a smartphone comes down to its everyday performance and this is where the HUAWEI Y8s shines. Packing in 64GB of expandable storage up to 512GB and 4GB of RAM, users not only have enough space for photos, videos, files and games but also enough RAM to have everything run smoothly.

A key focus of course is its battery life. Budget smartphones usually tend to have smaller batteries, however, the HUAWEI Y8s comes with a large 4000 mAh battery that is good to last for watching movies, attending video conferences or even through everyday tasks. This is topped off by the AI Power Saving Technology that brings to the table intelligent app management to further enhance battery life.

At the heart of it all, lies the Kirin 710, an octa-core CPU that includes four large Cortex-A73 cores and four small Cortex-A53 cores for faster all-round performance, while still maintaining efficiency. Paired with EMUI 9.1, performance is boosted while gaming with GPU Turbo while system performance is enhanced with the intelligent Extendable Read-Only File System which improves random read speed by up to 20% and saves 14% storage.

EMUI 9.1 also brings to the table fun features that enhance the user experience, including a Video Ringtone feature that allows you to record a short video in place of a ringtone for each contact.

Each HUAWEI Y series smartphone is unique in its own right. It is safe to say that the newly launched HUAWEI Y8s continues in the same pattern and brings to the table a new smartphone that aces in low-light photography, boasts a stunning display and features powerful performance all in a stylish body, making it easily one of the best choices for someone who is looking for a brand new smartphone.

U.S applauds Ghana on successful elections

December 10, 2020

FB_IMG_1607621455833 — US Ambassador to Ghana, Stephanie S. Sullivan, observing the electoral process at one of the polling centers

The United States Ambassador to Ghana, Stephanie S. Sullivan, has applauded Ghana on the country’s successful elections on December 7, 2020, while congratulating the President elect, Nana Addo Dankwa Akufo-Addo on his re-election.

She acknowledged that the elections were conducted in a free, fair, and peaceful manner while protecting the wellbeing of Ghanaians during the COVID-19 global pandemic.

However, she stated that “The United States expects that any electoral disputes would be resolved through established legal channels, in keeping with Ghana’s hard-earned reputation as a shining example of democracy in the region and across the world.”

In a statement issued by the US Embassy in Ghana, Sullivan affirmed the U.S. government’s commitment “to continue our strong partnership with the government and people of Ghana to advance our shared prosperity.”

Media in Ghana touted as a pillar of peace ahead of elections

December 6, 2020

The Ghanaian media has been touted as an important stakeholder and pillar of peace ahead of the 7^th December general elections. Moderating the Media-Security Dialogue on Violence, Mrs. Princess Sekyere Bih, Director of Kingdom Concepts Consult and convenor of the event, urged media institutions to be conscious of their role in disseminating accurate information during and after elections.

She said, “Should the Media play its part by being responsible in its report on the election, refuse to take sides or demonize one party, twist facts, incite violence, censor itself and is provided security by the police, we would have a peaceful environment during and after the election.”

At a short dialogue session during the event, panellists made up of Eyram Bashan – International media icon, communications specialist, Abigail Larbi Programme Manager, Media Foundation for West Africa (MFWA), DSP Yaw Nketia-Yeboah, Ghana Police Service and Jot Agyemang, Executive Director, Institute of Media Practice charged the media and all well-meaning Ghanaians to be patriotic, appreciate and preserve Ghana’s lasting “Peace” culture.

Mrs. Eyram Bashan, charged media owners and editors to have professional codes of conducts and editorial policies to regulate their various media houses as a guide for journalists to ensure a credible reportage, especially during and after elections without fear or favour. She recounted her experience as head of Newsroom at Metro’TV when she had to resist instructions from a Political Party official who thronged the newsroom in a high tension environment demanding an immediate declaration of election results ahead of the Electoral Commission.

She called on all journalist who will be fielded by their media houses at different locations in various parts of the country during the elections to remain focus and resolute for the task ahead in ensuring a credible and factual reportage devoid of distortion and partisan lines in spite of their political affinity.

Abigail Larbi, admonished politicians, media houses and commentators who spew hate speeches that insight people to inflame passions which stir up the political tension in the country to desist from such behaviour since they are noted and recorded by the Media Foundation and will not hesitate to provide the evidence to the appropriate quarters for punishment if need be.

She stressed that they will name and shame political actors and some individuals who decide to use intemperate languages adding, that the electronic media, specifically the radio stations advice party commentators who use unpalatable words and name-calling during phone-in sessions.

In response to a question by the facilitator Mrs. Princess S. Bih, the main organizer of the event “as to whether there was the need for censorship as a measure to control the kind of contents and messages recently making rounds on social media, Jot Agyemang, Executive Director, stated that he would not advocate for censorship to control social media since they have the right to develop, generate and control own content, but cautioned individuals that the source of information could be traced at any location.

DSP Yaw Nketia-Yeboah with the Public Affairs Directorate, on his part, could not hide his displeasure about the issue of the “Law on Causing fear and Panic” which most political actors, some media practitioners and commentators often fall fowl to.

This, he stressed the readiness of the Police to clamp down on people who make distasteful statements that have the tendency to cause unnecessary anxiety which the law frowns on, especially people of high office or political party officials and actors who are supposed to know better.

DSP Mr. Nketia-Yeboah sent a strong signal to Media owners; Practitioners, Presenters and Hosts of special programmes on radio stations who allow commentators and political representatives and other personalities to cause fear and panic by making derogative statements capable of inciting people are as guilty as those offenders according to the law.

He added that with the issue of people social media contents the Police has what it takes in the area of technology to trace and arrest any blogger or owner of any social media who post offensive content that can cause harm one’s credibility.

Afreximbank & African Energy Investment Corporation sign framework agreement

December 6, 2020

Prof. Benedict Oramah, President of Afreximbank

The African Export-Import Bank (Afreximbank), pan-African multilateral EXIM bank, and the African Energy Investment Corporation (AEICorp), an affiliated entity of the African Petroleum Producers’ Organization (APPO) that was established to support the development of Africa’s hydrocarbon and energy sectors have signed Framework Agreement Cairo.

The Agreement was signed by Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank and Mr. Zakaria Dosso, Managing Director of AEICorp in the presence of H.E Tarek El Molla, Minister of Petroleum and Mineral Resources and H.E Dr. Omar Farouk, Secretary-General of the APPO. The framework agreement will make Afreximbank and AEICorp collaborate in areas of common interests, coordinate their various initiatives in Africa, and foster the sustainable capacity of African countries.

H.E Tarek El Molla, Hon. Minister of Petroleum and Mineral Resources expressed his happiness that Egypt had been selected by the APPO’s ministerial council to lead the negotiations between the different parties. He emphasized that Egypt would continue to work on enhancing cooperation among African countries as part of its role towards the African Continent.

Commending the Egyptian Minister for Petroleum and Mineral Resources for the leadership role he played in getting the agreement concluded, H.E Dr. Omar Farouk, Secretary-General of the APPO noted that the event marked a watershed in the quest for cooperation and collaboration among development institutions on the African continent.

The Framework Agreement will enable the development of a solid plan with the aim of pushing investment across Africa in the energy and mining sectors; nevertheless, Afreximbank has taken upfront moves to create an alliance of banks to boost this promising plan. This alliance of joint banks will cover the geographical scope of the entire African continent, in addition to other countries outside Africa.

Speaking during the signing ceremony, Prof. Benedict Oramah, President of Afreximbank, said that the Bank’s solid experience in financial advisory services would allow AEICORP to mobilize the funds necessary to initiate its activities as well as successfully run the corporation‘s debt and equity investment operations across its target sectors.

“Afreximbank is proud to be part of this effort and is eager to provide AEICORP the benefits of its knowledge of the Continent; knowledge of financing extractive industries; and skills in structuring complex transactions,” stated Prof. Oramah.

“Afreximbank‘s support will include cooperating with AEICORP to facilitate market penetration plans as well as developing projects across Africa. The Bank is looking forward to working alongside AEICORP for the development and transfer of skills, and the leveraging of existing relationships to fast track the institutionalization of AEICORP on the Continent,” he added.

Mr. Zakaria Dosso, Director of the AEICORP expressed deep appreciation to the Minister El Mollah for his guidance and support in the negotiation process and assured that AEICorp was determined to transform the African energy scene. He regretted the fact that Africa had the largest number of people without access to modern energy even when the continent was blessed with abundant energy resources. “Without energy, we cannot take Africa to the next level,” concluded Mr. Dosso.

Asante Professionals Club commits to educational empowerment in Ashanti Region

December 2, 2020

Asante Professionals Club-Manhyia Palace (15) — Executives of APC in a picture with the Asantehene, Otumfuo OSei Tutu II, Manhyia Palace

Presents 1,000 school bags to Otumfuo Charity Foundation

The Asante Professionals Club (APC) has presented 1,000 school bags to the Asantehene, Otumfuo Osei Tutu II, in support of the work of the Otumfuo Charity Foundation while readying to roll out an ambitious library project for various districts of the Ashanti Region.

The school bags, which was received by the Executive Director of the Otumfuo Charity Foundation, Dr. Thomas Agyarko-Poku, during the 8^th and last ‘Akwasidae’ celebration of the year, 2020, at the Manhyia Palace, is hoped to contribute to enhancing education in the Region.

The National President of APC, Prince Edusei, said the Group recognizes the efforts of the Asantehene to promote education as well as development for Asanteman. It is in view of this that the USA members of APC mobilized to undertake this initiative.

The project funded by APC-USA at a cost of GHS 80,000, is in celebration of the 70th birthday of Otumfuo Osei Tutu II.

“These bags have been branded with “Otumfuo @70” logo as a demonstration to the world that Otumfuo does not only care about his immediate circles but everybody in Asanteman, irrespective of one’s ethnicity,” Mr. Edusei said.

The USA Branch President, Barbara Acheampong, mentioned that “Asantehene has demonstrated enormous leadership in the development of Asanteman through education and investments into the human capital of our children.

“The backpacks presented today will go a long way to motivate our students in their education journey”

Meanwhile, in addition to this gesture and many others that have been undertaken over the last five years of the Club’s existence, APC is on course to commence a ‘Community Library’ project across the Region.

The APC Community Library project seeks to establish library facilities in deprived communities in Ashanti Region.

According to the National President of APC, “We acknowledge that most communities in Ashanti Region have schools but may not have a library for further studies.”

He said given the importance of reading in the educational development of children, APC has seen the need to provide library project to support the students in reading and research.

The first beneficiary community for the library project is Juansa, in the Asante Akim North Municipality, and “we hope to complete in March 2020.”

The library project will be able to accommodate 50 students at a sitting. It will be stocked with reading materials for basic and junior high school levels with computers and internet facilities to facilitate further research and learning. The project will also employ librarians to manage the facility. It is estimated to benefit over 5,000 students upon completion, in 50 communities.

The Asante Professionals Club is a professional organization of individuals who contribute ideas and resources to the development of Asanteman. Established in 2015, the Club undertakes projects and programmes in line with Otumfuo’s development agenda of Asanteman.

In April 2019, Asantehene launched a $100 million development fund to implement a 10-year Development Plan for Asanteman, an initiative strongly championed by the Asante Professionals Club.

Among the projects, that the APC is hoping to realise through the ‘Development Plan” is the establishment of a state-of-the-art diagnostic hospital in the Region, which will promote medical tourism, for persons who will be coming from outside the country to seek medical care.

APC says it USA branch is already working on a feasibility report to make this realizable, while deliberation with key stakeholders also continues on other aspect of the Asanteman Development Plan.

“In the Development Plan, we see an Asanteman that has a university, dedicated to the training of children to become entrepreneurs among others. To this end, we are thinking of facilitating the establishment of an entrepreneurial and business university. That is in the Plan.”

Association of Rural Banks outdoors new corporate cloth

November 27, 2020

Photo: Mrs Comfort Owusu, (middle) flanked by other ladies of the Association

The Association of Rural Banks, Ghana which is made of the over one hundred and forty rural banks in Ghana has launched a new corporate cloth.

The launch of the corporate Friday wear was part of activities that marked the 21^st Biennial General Meeting held recently at Miklin Hotel in Kumasi.

The new cloth according to the National Council is a consistent move to maintain the Association’s corporate image and brand awareness.

The Executive Director of the Association, Mrs Comfort Owusu tells Business & Financial Times that the introduction of the new cloth is part of the Association’s reform approaches to meet the current marketing trends in the banking industry.

According to her, the healthy competition in the Banking industry is bringing some form of innovative strategies and that the member banks have a responsibility to make a conscious effort to meet the prevailing standards.

The Association has made very significant impact by driving the advocacy agenda and making a very meaningful contribution to the wellbeing of member rural banks.

Mrs. Owusu attested to the fact that the banking environment has experienced some challenges since the government started the clean-up and with the advent of the COVID-19 pandemic but member rural banks have exhibited some level of resilience and been able to withstand the difficult times.

According to her, the introduction of corporate cloth is one of the many marketing activities that will be rolled out in the year 2021. She is however confident that by next year member rural banks will have surmounted all challenges and taken off well to serve the over six million customers scattered across the country.

The rural and community bank subsector of the financial industry continues to show signs of resilience, despite the punitive impact of the outbreak of COVID-19 on the economy, recording some modest growth in deposit mobilization.

The subsector of the banking industry recorded a total deposit of GH¢4.32 billion as at the end of the second quarter of 2020. The 23.1% year-on-year trend of growth of RCBs deposits, followed from an increase of GH₵2.85 billion recorded at the end of 2017 to GH₵3.83 billion recorded in 2019.

Total loans and advances also increased from GH¢1.56 billion to GH¢1.69 billion while total assets surged from GH¢4.27 billion to GH¢5.1 billion over the same period, with recorded growth rates of 8.3% and 19.4% respectively.

Old Mutual to ease financial burden on bereaved families

November 27, 2020

Photo: Rita Boateng, Head of Marketing and Operations at Old Mutual Ghana

.. unveils Black and White Family Plan

One of Ghana’s innovative Insurance Companies, Old Mutual has launched the Black and White Family Plan – a revolutionary digital funeral policy aimed at offering a seamless solution to ease the financial burden felt by grieving families.

For most Ghanaians, funeral payments are one of the big expenses in life. They create severe financial stress for families trying to meet the traditional obligations of giving befitting funerals. With the use of the popular WhatsApp messaging app, Ghanaians can now conveniently and easily sign up for Black and White Family Plan designed to help families invest and protect themselves from the brunt of funeral expenses.

Commenting on the launch of Black and White Family Plan, Rita Boateng, Head of Marketing and Operations at Old Mutual Ghana, said: “According to the latest annual report from the National Insurance Commission, Ghana’s insurance penetration rate stands at less than 2%, largely because of delays in the payment of claims, complex underwriting processes, expensive premiums among others.

Black and White Family Plan has tapped into the biggest messaging app (WhatsApp) to reach and enable Ghanaians to bridge this gap in a simple, accessible and convenient manner.

Over the past three years, WhatsApp has become the most active social media platform/messaging app in Ghana. By providing this product via WhatsApp, Old Mutual Ghana provides a seamless and convenient solution as Ghanaians can now invest in a funeral plan while accessing and using their favourite app.”

“Our goal as an insurance company is to encourage families to protect themselves and loved ones from shock in the event of death. Now they can do this with their phones as they can simply just say Hi to 0242 426 455on WhatsApp and follow the interactive prompts to experience real-time convenience in insurance.

This funeral cover starts from GH¢2,000.00 to GH¢20,000.00 and covers the policyholder as well as selected spouse, children, parents, and parents in law,” Rita Boateng added.

Black and White Family Plan was inspired by the traditional black and white cloth used during funerals to celebrate lives. The policy seeks to celebrate life in a meaningful way and to give comfort to the bereaved without any barriers.

The Black and White Family Plan has low monthly premiums with a short premium payment term of fifteen years and the cover continues for the whole of life of the policyholder. Payments are made within 48 hours of reporting a claim after providing satisfactory proof of death.

However, premiums and cover are guaranteed for the first 5 years of the policy. In addition, 10% of premiums paid in any three-years period will be paid back after each third-year period provided the policy is still in force.

Ghana committed to forest restoration

November 27, 2020

Ghana has committed to restoring one million hectares and to have about two million hectares of its degraded and deforested land restored by the year 2030 under a number of international agreements and conventions relevant for Forest Landscape Restoration (FLR).

In order to meet these commitments, particularly under the Bonn Challenge, Ghana has developed a comprehensive Forest Plantation Strategy to establish and manage 625,000 hectares of forest plantations and conduct enrichment planting of 100,000 hectares of existing forest plantations as well as maintain and rehabilitate an estimated 235,000 hectares of existing forest plantations.

Mr. Tabi Agyarko, a Director of the Ministry of Lands and Natural Resources made the disclosure at a National Validation Workshop of Ghana’s Country Report on Smallholder Forest Landscape Restoration (FLR) in Accra under the auspices of the International Tropical Timber Organization ( ITTO) and facilitated by the Forest Research Institute of Ghana (FORIG).

Mr. Agyarko said as part of the strategy, the country was also to facilitate the incorporation of trees within farming systems covering 3.75 million hectares of agricultural landscapes and that these development priorities were in line with the Sustainable Development Goals (SDGs) 13 and 15 aimed at addressing the issues of Climate Change, environmental and natural resources.

He said for that purpose, a number of initiatives were underway including the Forest Investment Programme, (FIP) National Forest Plantation Development Programme (NFPD), Ghana Cocoa Forest REDD+Programme (GCFRP) Ghana Shea Landscape Emission Reduction Project (GSLERP) and the Landscape Restoration and Small-Scale Mining Project (GLRSSMP) among others.

Dr. Lawrence Damnyag, a national Expert of FORIG said Ghana had lost over 60% of its forest cover totalling 2.7 million hectares between 1950 and now with a deforestation rate of about 2% per annum for the country while that of the high forest zone alone was about 3.2%.

He said the National Validation Workshop was consequent to the Regional efforts by 6 West African countries including Benin, Cote d’ Ivoire, Ghana, Liberia, Mali and Togo to the implementation of Forest Landscape Restoration in the fight against forest degradation and deforestation in the Sub-region which led to an IITO led Regional Workshop in Lome, Togo in November 2019.

Dr. Joseph Appiah-Gyapong, of the Forestry Commission Ghana, said the role of Smallholder plantations in the battle for the restoration of the forest were most critical and that efforts must be made to assist and encourage Smallholder plantation owners at all times.

The National Validation Workshop with participants from Smallholder plantation Owners, Government Officials, ITTO Focal Person and FORIG Expert, was aimed at identifying which of the recommendations for Smallholder FLR developed during the regional workshop in Lome, Togo in 2019 were most appropriate and promising for Ghana.

Registrar-General to meet 8 fund managers today

November 25, 2020

Registrar-General issues directive on filing annual returns — Jemima Oware, Register-General

The Registrar-General will today, Wednesday, November 25, 2020, meet investors of eight Fund Management Companies for Creditor Meetings.

Investors can join the virtual meeting through specially designated time slots and specially created ID’s.

The eight fund Managers include Unisecurities Ghana Limited, EM Capital Partners, Heritage Securities Limited, Corporate Hills Investment Limited and Cambridge Capital Advisors Limited.

The rest are QFS Securities Limited, Ultimate Trust Fund Limited and SGL Royal Kapita Limited.

The meetings are scheduled to begin at 9 AM Wednesday and will last till 4:30 pm this evening.

Attached is the time for the various investors of the fund managers to meet the Registrar-Genera.

FEDA to fill $110 billion equity funding gap

November 25, 2020

Afreximbank President Prof. Benedict Oramah (left) and His Excellency Alfred Kalisa, Ambassador of the Republic of Rwanda in Egypt after signing the Headquarters Agreement for FEDA. — Photo: Afreximbank President Prof. Benedict Oramah (left) and His Excellency Alfred Kalisa, Ambassador of the Republic of Rwanda in Egypt after signing the Headquarters Agreement for FEDA

Fund for Export Development in Africa, FEDA has been established by Afreximbank to facilitate foreign direct investment flows into Africa’s trade and export sectors and to fill the equity funding gap that amounts to $110 billion per annum in exports related sectors.

FEDA is a new vehicle created to deal with the perennial problem of capital constraints to private sector development and industrialisation in Africa. Afreximbank has already committed over 350 million US dollars to the Fund, including commitments for the operation of a Credit Fund, investments in the Bank’s strategic initiatives and those to be deployed under limited partnership frameworks.

FEDA which is a development-oriented subsidiary of Afreximbank aims to provide equity financing to companies operating in key industries and sectors to significantly increase the likelihood of success in delivering on Afreximbank’s development priorities and meeting the Bank’s strategic goals under the main pillars of the intra-African Trade Strategy and the Industrialisation and Export Development Strategy.

These and more came up at the official signing of the Establishment Agreement and Memorandum of Understanding of the key documents related to the establishment of the Fund and headquarters host agreement. The agreement was signed between African Export-Import Bank (Afreximbank) and the Republic of Rwanda in Cairo last Tuesday and virtually aired.

The related documents were signed by His Excellency Alfred Kalisa, Ambassador of the Republic of Rwanda in Egypt, and Afreximbank’s President, Professor Benedict Oramah in the presence of His Excellency Mahamadou Labarang, Dean of the African Ambassadors in Cairo and FEDA Chief Executive Officer, Dr. Philip Kamau. The Establishment Agreement creates FEDA while the Headquarters Agreement provides that the Republic of Rwanda will host the headquarters office.

According to Ambassador of the Republic of Rwanda in Cairo, His Excellency Alfred Kalisa,

The Government of Rwanda is happy to have signed these key agreements with Afreximbank. He emphasised that Rwanda is glad to host FEDA as they work together to achieve the dreams of the African Continental Free Trade Area (ACfTA) on the continent as well as ensuring that FEDA is successful in driving and achieving its mandate.

Professor Benedict Oramah, President of Afreximbank, on his part was thankful to H.E. Paul Kagame, President of the Republic of Rwanda and his Government for embracing the strategic essence of this institution to both Rwanda and Africa.

“To have agreed to host FEDA without any equivocation is a clear and bold statement of visionary leadership and recognition of the economic value of Pan-African institutions,” he stressed

He added that FEDA would be tasked to provide capital to companies in the financial services, technology consumer and retail goods, tourism, manufacturing, transport, logistics and warehousing, trade enabling infrastructure like industrial parks, agribusiness and education sectors in Afreximbank’s member states.

Professor Oramah finally reiterated that FEDA would invest across all market segments but with a greater focus on SMEs which has substantial funding shortages and represent about 90% of businesses in Africa. It will also invest in mature companies and start-up businesses where there is a gap in the marketplace and where investments have a high level of value additionality and development impact in Africa.

Man electrocuted in Labone died in the line of duty—La Dade-Kotopon Assembly clarifies

November 24, 2020

The La Dade-Kotopon Municipal Assembly has reacted to a viral video on the death of a young man who was electrocuted while purporting to be hanging party flag on a light pole in Labone, in the Greater Accra region.

According to Assembly, the deceased, Mr. Richard Buenortey, was an electrician of the La Dade-Kotopon Municipal Assembly who unfortunately died in the line of duty, contrary to information making rounds that he died while engaging in party duties.

A statement from the Assembly explained that the deceased and his team were tasked to undertake an installation of the Assembly’s share of 300 streetlight bulbs from the Greater Accra Regional Coordinating Council.

They commenced the installation works on November 12, 2020. Until his untimely death at Labone on Wednesday, November 18, 2020, the team had installed 276 streetlight bulbs in six out of ten Electoral Areas in the Municipality.

“By this release, we wish to set the records straight that, Richard Buenortey died in the line of duty, and that the general public should ignore the news making rounds on Social media and in the mainstream media that “A man dies while fixing a party flag on a light pole”. This caption purports to twist the fact of his unfortunate death must be ignored,” the statement said.

Attached is the full statement from the La Dade-Kotopon Municipal Assembly.

REJOINDER TO THE DEATH OF THE ASSEMBLY’S ELECTRICIAN

AWE pogramme provides opportunities for business women

November 23, 2020

AWE Cohort 2 Cert Ceremony-146 — Photo: U.S. Ambassador to Ghana Stephanie S. Sullivan in a group photo with AWE cohort 2 members

The Academy for Women Entrepreneurs (AWE) programme by the United States government is providing refreshing new opportunities for growth for female entrepreneurs across the globe, as some 48 female entrepreneurs graduate from the programme.

AWE is a part of the U.S. Women’s Global Development and Prosperity Initiative, a whole-of-government effort to advance global women’s economic empowerment, established in February 2019.

Since the programme’s inception, 78 Ghanaian female entrepreneurs have completed the AWE programme. AWE was a pilot program in 2019 in 26 countries, including 10 in Africa: Ghana, Kenya, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe.

Photo: U.S. Ambassador to Ghana Stephanie S. Sullivan addressing the Academy for Women Entrepreneurs (AWE) Cohort 2 members.

Since then, the programme has expanded to over 50 countries and has trained over 7,000 women.

AWE follows the DreamBuilder course developed by the Thunderbird School of Global Management in Arizona. This online programme provides flexibility to budding women entrepreneurs, who follow the course at their own pace, with supplemental sessions facilitated by experienced women entrepreneurs and subject matter experts in finance, marketing, and logistics.

AWE provides online education resources, fosters networks that support access to mentorships, and connects women through existing U.S. government exchange programs.

Participants from the second AWE cohort included entrepreneurs from the agricultural, food and beverage, cosmetics, personal care, and textile sectors.

Marking Global Entrepreneurship Week, the U.S. Ambassador to Ghana Stephanie S. Sullivan addressed the graduation ceremony of the U.S. Department of State’s Academy for Women Entrepreneurs (AWE) second cohort.

Hosted by the Embassy’s implementing partner, the event took place at the Young African Leaders Initiative (YALI) Regional Leadership Center located in the Ghana Institute of Management and Public Administration.

Ambassador Sullivan commended the 48 cohort members and encouraged them to remain resilient and determined.

Photo: U.S. Ambassador to Ghana Stephanie S. Sullivan with Dr. Shola Safo-Duodu YALI RLC Director (2nd from right), staff of U.S. Embassy and AWE training facilitators.

She said “All of us here today know how much women business owners, both in the informal and formal sectors, contribute to and drive Ghana’s economic prosperity.

She observed that in addition to boosting economic growth, investing in women produces a multiplier effect because women reinvest a large portion of their income in their families and communities.

Terpker banks hopes on oil money, fiscal prudence …to revive economy under NDC

November 23, 2020

Former Finance Minister Seth Terkper has said that despite the country’s ballooning debt situation, which has created little room for big-ticket government programmes to be rolled out, he is confident that the needed resources can be mobilised to undertake projects promised by former president John Mahama if elected into office.

His comments come on the back of the International Monetary Fund (IMF) projecting the country’s debt to hit more than 77 percent of GDP by end of the year, a situation Mr. Terkper attributes to high borrowing under the Akufo-Addo-led government and not the pandemic.

Asked at a press conference on Friday about how the National Democratic Congress (NDC) plans to finance its ambitious promises in its manifesto – which includes the US$10billion fund dubbed ‘BIG PUSH’ to build robust infrastructure like roads, railways, port expansion, inland ports, hospitals, social housing and multipurpose markets in every part of the country – the former finance minister said his team will use revenue from the three oil fields and other resources to finance the project.

“Our record is clear. Remember we didn’t have much fiscal space. We didn’t have much oil revenue and so we decided to use the little we have to tackle the problems of the economy. We didn’t have three oil fields. So I am saying that it is a question of managing the fiscal aspects as well as possible. We are not saying that the promises we are making are going to be easy to come by, because there are some factors we don’t control. But now we have much more information than before, and so we know where the problems are.

“This is not going to be our first experience in financing major transactions. From the interchanges, E-schools etc., we still kept the debt at 57.7 percent. We have three oil fields and we will go back to the Sinking Fund [money drawn from the Stabilisation Fund to pay debt and finance government projects] to reduce the debt,” he said.

The petroleum receipts data indicate that while 30.3 percent of receipts went to the Mahama administration from only one oil field, 56.4 percent has gone to the Akufo-Addo government from three oil fields. This, Mr. Terpker said, shows the economy should not be in its current debt situation considering how much more revenue has been accrued by this administration than any other one.

He further stated that the next NDC government will reduce the rate and cost of borrowing if voted into power this general election.

“We showed that we had the ability to borrow and at the same time reduce the rate of borrowing. This hadn’t happened in about a decade or so. The only time it happened was during the HIPC programme. We are banking our hopes on every resource available to government and our ability to be innovative and creative with initiatives which can reduce the cost of borrowing,” he said.

Autochek secures $3.4m pre-seed funding to deliver technology for African automotive industry

November 20, 2020

Photo: Etop Ikpe, Founder and CEO of Autochek

Autochek, the automotive technology company aiming to build solutions for the African market, has raised $3.4 million in pre-seed funding round, co-led by TLcom Capital and 4DX Ventures with inclusion from Golden Palm Investments, Lateral Capital, Kepple Africa Ventures, MSA Capital and a number of local angel/seed investors.

The start-up will use the investment to grow its Nigeria and Ghana markets and will see further investment in technology and growing its teams.

The pre-seed investment follows Autochek’s acquisition of Cheki Nigeria and Cheki Ghana brands in September 2020. Combining technology and data to power every process of the automotive transactional ecosystem for millions of people,

Autochek will transform the automotive buying and selling experience for African consumers, by creating a single marketplace for all automotive needs. This will include everything from sourcing and financing transactions to after-sales support and warranties.

Through the acquisition of Cheki Nigeria and Cheki Ghana, Autochek already has more than 20,000 unique vehicles listed on its platform, and more than 12,000 dealers and private sellers, as well as a range of corporate partners and customers.

Leveraging its extensive on-the-ground network of dealers and an experienced leadership team, the new platform and mobile app has been designed to address the pain points of buying, selling and repairing cars in Africa such as access to finance (for both consumers and dealers), maintenance and insurance, and bring greater value to car dealerships by enabling and enhancing automotive commerce across the continent.

Autochek will also facilitate cheaper and more effective transactions for dealers and corporate partners, leveraging its industry relationships to buy and sell vehicles on behalf of the customer for the best price and ensuring value for money.

Via the Autochek mobile app (Android app now available. iOS app coming soon), car owners and potential owners will have access to loans, auctions, trade-ins and maintenance.

Automotive dealers will have access to real-time car auctions, fleet management, marketing support and standardised reports on car conditions and market value, as well as inventory management, CRM for lead management and garage management systems for car workshops.

Financial institutions like banks and fintech will also have access to a credit management dashboard that will make it easier for them to access customers. By focussing on the demands of both customers and dealers, Autochek is building an ecosystem of solutions specifically designed to deliver an unrivalled customer experience for the African automotive market.

Etop Ikpe, Founder and CEO of Autochek, said, “This early-stage investment allows us to get started with the work of developing technology products and services that will transform automotive trade on the continent, whereby we significantly improve transactions and aftercare support for car owners, dealers and other stakeholders across the African automotive industry”.

“Building on the solid work that the Cheki Nigeria and Ghana teams have done over the last ten years, we are already dispersed across multiple locations and applying the technology built and developed by our Autochek auto-tech experts, we are well-positioned to scale quickly, as demand for reliable and well-priced cars on the continent grow. With this pre-seed round and our seasoned strategic investors on board, we are working to transform the automotive sector on the continent”

Andreata Muforo, partner at TLcom said, “Autochek is radically improving customer experience and dealer economics in an industry that creates value and jobs across the continent and we are excited to be part of that journey. The founding team has a clear plan for what they want to achieve and we look forward to working with them as they execute on their vision.”

Walter Baddoo, Managing Partner at 4DX Ventures said, “We are proud to enter this partnership with Autochek as the company embarks on its mission to transform Africa’s automotive industry. By providing access to a new range of products and services, the company will dramatically enhance the automotive transacting experience for dealers and the ownership experience for consumers across the continent. Autocheck is helping to unlock massive opportunities in Africa’s auto sector and we are pleased to be supporting that mission.”

Africa is widely regarded as the final frontier for the global automotive industry, with high growth prospects over the next decade. Despite the impact of COVID-19, car sales are expected to grow across the continent, with a corresponding rise in demand for support services. However, a range of existing challenges, including limited access to finance and an opaque and fragmented marketplace means car owners and dealers do not always enjoy the best experience.

U.S. Embassy in Ghana mourns former President Jerry John Rawlings

November 20, 2020

2020-11-17 U.S. Ambassador Sullivan Signing Rawlings Condolence Book — Photo: U.S. Ambassador to Ghana Stephanie S. Sullivan signs condolence book for Former President Jerry John Rawlings on Tuesday, November 17, 2020.

The United States Ambassador to Ghana, Stephanie S. Sullivan, has joined dignitaries across the globe to console the people of Ghana and family of the former President Jerry John Rawlings on his death.

A statement issued by the American Embassy in Ghana to the press on behalf of the government and people of the United States and signed by the US Ambassador to Ghana Stephanie S. Sullivan says “I offer our sincere condolences to the government and people of Ghana on the passing of His Excellency former President Jerry John Rawlings on November 12.”

Ambassador Sullivan has therefore extended the deepest sympathies of her country as captured in the statement to the bereaved family, especially to former First Lady Nana Konadu Agyeman-Rawlings and their children.

The statement said the Late Former President Rawlings was recognized worldwide for steering Ghana’s transition from authoritarian rule to a multi-party democracy.

“Ghana’s achievements as a leader in economics, peace, and democracy, both in the region and beyond, form an important part of his enduring legacy,” the statement said.

The Embassy on behalf of the people of the United States join the entire citizenry of Ghana in mourning the loss of a stalwart and charismatic Ghanaian stateman. “May he rest in peace,” the statement concluded.

Meanwhile, Ambassador Sullivan was at the State House to sign the book of condolence.

Collaborate with dev’t bank to hasten economic recovery – BoG tells banks

November 20, 2020

The Bank of Ghana has called on banks to foster collaboration with the soon-to-be established Ghana Development Bank in order to hasten the economic recovery efforts of government amid the pandemic.

Speaking at the 24^th National Banking Conference organised by the Chartered Institute of Bankers (CIB), Head of Banking Supervision at the central bank, Osei Gyasi, said the global pandemic’s impact on the local economy and financial sector has brought the need for banks to forge partnership with the coming development bank – which will operate as a Development Financial Institution (DFI) in order to financially support some key sectors of the economy.

“The Bank of Ghana, in collaboration with other stakeholders, developed the regulatory framework that led to passage of the Development Finance Institutions bill. The bill provides for the establishment of different classes of DFIs.

“Recent developments show that development banks can be important policy tools in supporting economic recovery efforts due to the counter-cyclical funding they provide during periods of economic downturn – such as is being experienced in most countries due to the COVID-19 pandemic.

“This has led to a renaissance of DFIs, especially in developing economies. Our understanding is that the development bank will operate as a wholesale DFI, and so will be working with participating financial institutions in providing credit facilities. This therefore provides further opportunities for banks to collaborate with the development bank when it is established to support key development-oriented sectors of the economy,” he said at the event in Accra.

Also, commenting on the theme ‘The Changing Banking Landscape: Leveraging the Impact of COVID-19 to be Future Ready’, Managing Director of Standard Chartered Bank-Ghana, Mansa Nettey, said the new normal of online and digital banking has come to stay and this requires industry players to embrace that change – adding that it is time for collaboration among banks to leverage opportunities brought by the pandemic.

“One thing is certain: the transformation-shift to digital banking, remote working, payment and interactions are here to stay. Judging by the success with which we, as financial institutions, have delivered services to our clients, it is difficult not to believe that we have defined a new model for the future of business.

“To sustain this new model and better embrace the change we continue to experience, we will require a mindset that enables us to collaborate with our clients, stakeholders, competitors and regulators. Now more than ever, it is time to share and connect with each other. We can do it in a safer environment with key focus on safety and well-being of our employees, convenience and speed for our clients, and consistent and shared learning among key players in our industry,” she said.

President of the Chartered Institute of Bankers, Patricia Sappor, used the platform to commend banks for introducing innovative products and services to offer convenience for clients and adapting to the sudden change and disruptions which the pandemic brought in the industry.

“Banks and financial services providers are designing innovative and tailor-made services and products which meet the needs of customers and ensure their sustainability. Similarly, the financial industry has successfully navigated the exigencies of the COVID-19 emergency by adjusting their working models to drive proficiency and strength. New ways are being explored to utilise this emergency as a springboard to reconsider their position in the new order and norm.

“In spite of the gains made so far, new work models and financial strategies will be required to launch the industry beyond recovery and build confidence in the sector through coordinated roles to be played by key stakeholders in future,” she said.

Osei Gyasi delivering his address

Patricia Sappor delivering her welcome address

Leadership of CIB Ghana with Mansa Nettey, MD-Standard Chartered Bank (right) FIN

Police advised to end harassment and extortion on transit corridor

November 17, 2020

japtu — Executive Secretary of JAPTU, Ibrahim Musah speaking with Eye on Port

The Ghana Police Service has been called on to as a matter of urgency eliminate the incidence of unnecessary police checks on transit truck drivers using the transit road corridor in order to facilitate transit and regional trade.

Transit cargo handled through Ghana’s ports in 2019 alone was one million, three hundred and sixty-three thousand, eight hundred and ninety-two (1,363,892) metric tonnes, generating greater revenues for the nation.

Speaking on Eye on Port, some stakeholders in the transit trade suggested that the Ghana Police Service should do all it can to readjust its activities toward transit trucks in order to complement interventions by the port industry players to attract some significant business into the Ghanaian corridor.

“We think the police service can do a greater job in making sure that their efforts complement the bigger investment agencies like GPHA and GSA are making into opening our ports, and educating stakeholders to grow traffic,” said Executive Secretary of the Joint Association of Port Transport Union (JAPTU) Ibrahim Musah.

He disclosed that the many police checkpoints on the corridor and accompanying harassment and extortion have made the corridors expensive for transit business.

“We have had several reports on the issue of checking cargo which has been used as an opportunity to harass, extort and create unnecessary delays,” he bemoaned.

He questioned the intent behind numerous police checks on transit truck drivers on the corridor, and expressed that the police are capitalising on petty to zero situations of infraction to create opportunity to harass hauliers.

He noted that the GPHA load-worthy initiative inside the port is an additional security intervention in addition to road-worthy checks by the Drivers and Vehicle Licencing Authority, hence some of the checks done by police are needless.

Ibrahim Musah said initial efforts made by the then IGP and his high ranking police officials failed because there is a disconnect between the policy initiative at top-level and implementation on the ground.

“You will find it difficult to understand why a police officer cannot understand a directive that is as clear as what was stated by the then-IGP,” he continued.

Also speaking on the same platform, the Burkina Faso Chamber of Commerce Representative in Ghana, Sherif Ouedraogo, called for a drastic reduction of police checkpoints to facilitate movement, as a significant level of security has been initiated through collaborations between the Customs, SIC and his outfit to safeguard goods and drivers as soon as clearance is done through the ports.

“We have a contract already with Customs, and with SIC who give all the documentations to Burkina Faso Chamber of Commerce to clear the goods,” he said.

Mr. Ouedraogo added: “I agree that security is important, but we have to reduce the checking points to facilitate movement across the corridor”.

He proposed that security interventions by the Ghana police across the transit corridor be like those practiced in Burkina Faso; they are not stationary but run patrols in the protection of lives and properties.

“We have security who move and do not stay at one place,” he indicated.

Adding his voice to the calls for an improvement in police activity on the corridor, Frank Oppong, the Project Logistics Manager at Jonmoore International – a haulage company specialised in out of gauge cargoes, said haulage companies should endeavour to ensure drivers engage in appropriate safety practices in order not to become vulnerable targets for police extortion.

“Drivers should be educated. If they are in the right personal protective equipment, for example having seatbelts on, no police can harass them,” he advised.

He also advised stakeholders to rely on monitoring schemes available to track trucks and cargo movements.

Sweet Hub Confectionary is ‘Best Confectionary Company of the Year’

November 17, 2020

Sweet Hub Confectionary, the manufacturer of Cocobytes Chocolates, has won the Best Confectionary Company of the Year award at the 2020 National Customers’ Choice Awards Ghana.

The ceremony, organised by Millennium Communications, came off at the Movenpick Hotel, Accra, and saw big brands rewarded for their customer service when it comes to brand reputation, customer satisfaction, business excellence, professionalism and integrity.

CEO of Sweet Hub Confectionary, Shirley Temeng-Asomaning, thanked the organisers for the award and extended gratitude to the customers who made the award and honour possible.

“It goes without saying that this award is dedicated to our customers, without whom this is not possible. I cannot thank them enough. Due to their patronage and feedback, we have grown from strength to strength. We believe these are still baby-steps and the future looks great,” Mrs. Temeng-Asomaning said.

More about Sweet Hub Confectionary

According to Mrs. Temeng, the reason for setting up a confectionery business is to create happiness and love. “We seek to bring families together through sweets. If Ghana is one of the biggest producers of cocoa but we do not have major local confectionary businesses that bring happiness and love, I believe there is more to be done,” she said.

Beginning the business in May 2018, Sweet Hub has also introduced some of the most uniquely flavoured chocolates and produced more than 100,000 bars of chocolate. Flavours such as ginger-caramel, coffee, peanut brittle, dark and milk chocolates have seen clients place more orders after their first taste.

“Our flavours and recipes are two of the major standout options for us. We do not limit ourselves to regular milk and dark-flavoured chocolates. We try to add a little bit of something to it. We do candies and try to mix the candy flavours with our chocolate. For example, you can have a ginger candy in your chocolate or coffee-candy flavour in your chocolate,” she added.

The fantastic service

Another factor that makes Sweet Hub stand out is its acclaimed service. While some businesses tell the client when they can deliver, Sweet Hub tends to work with the client’s time and demands. “Others will say we can only deliver this request in a week or two or three days, but we do our best to turn around within 24 hours – and I tell you, this 24-hour turnaround time has saved a lot of clients from embarrassment,” she added.

“We also try to work one-on-one with you. From the conceptualisation of message, design process, through production to delivery, we work with the client. Whereas some competitors would say these are the colours or flavours available, we ask what you want, help chose with you and then proceed to design and produce,” she added.

More awards and nominations

Sweet Hub Confectionary has also picked up four nominations at the upcoming Ghana Cocoa Awards. The categories include Brand of the Year; Chocolate of the Year; Artisanal Value Addition Company of the Year; and Consumption Promotion Ambassador of the Year for Kweku Temeng, who serves as Sweet Hub’s brand ambassador.

PMMC upgrades assaying laboratory at KIA to enhance monitoring of gold exports

November 17, 2020

The Precious Minerals Marketing Company Ltd. (PMMC) has installed new ultramodern equipment at its assay laboratory at the Kotoka International Airport to facilitate testing of gold and other metals for exports.

The new equipment includes X-ray Fluorescence (XRF) Spectrometer; Electrical Conductivity Tester for Gold; Technical Specifications for Ultrasonic Flaw Detector; Specific Gravity Frame for Density Determination, among others.

Prior to this, the large-scale mining companies used their own assaying facilities and this made it possible for them to export minerals without certification and authentication by PMMC which has the global credibility to undertake these tests.

Commenting on this, Acting Managing Director of PMMC, Venance Dey, said the new equipment will address the age-old problem of gold smuggling which has been a bane of the economy as substantial revenue is lost through this unscrupulous practice.

He further stated that the new facility will bring transparency and accountability in the processing of gold, which makes it possible for all information on the mineral to be documented, stressing that it would enable the government to verify the true value of gold exports, thereby reducing the problem of money laundering in the gold business.

“After the assay, the values are recorded as against the sample weight and this is used to compute the final value of the bullion shipment. At the final destination of the gold, PMMC’s value is reconciled against that of the value of the refinery at the destination to arrive at the final value for the bullion by both the mines and PMMC. This enables PMMC to compute revenue generation, and as such reduces the instance of parent companies in the incidence of under-invoicing.”

Revenue would be enhanced as exporters are obliged to repatriate 70 percent of export value earned of the gold. The repatriation policy would be effectively implemented, and this would ensure that there is enough dollar in the country, which at the end of the day would make the cedi perform creditably against the foreign currencies,” he said.

Mr. Dey also assured that PMMC, together with other state agencies, has monitoring systems in place to check the understatement of revenue by mining companies.

“The gold is received from the helicopter in the company of Immigration, GRA and National Security personnel, who then transport it to the lab for testing. At this point, the immigration staff joins the PMMC officials to check the bullion to ascertain the quantity of the bars is equal to what is declared. This move is to reduce understatement of revenue from the mining companies as PMMC will now assay to know the correct value of bullion that is exported by each company,” he said.

He added that in the coming near future, PMMC would assume full bullion assay, which means that gold would be refined in Ghana to add value before it is exported to other countries.

In defense of a legacy…Kwame Awuah-Darko, former BOST MD, sets the records straight

November 17, 2020

Kwame Awuah-Darko, the former Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST) took to the airwaves recently to set the records straight.

In interviews with media houses, especially in response to a question posed by a host on a local radio station in Kumasi, Ashanti Region, Mr. Awuah-Darko said the NDC led BOST administration has had the great fortune in this era of NPP, of not auditing its own accounts.

Our accounts for 2015 and 2016, were audited by the NPP government, which findings were published in the State Enterprises Ownership Report 2017 by the Finance Ministry and the State Enterprises Commission, Page 45 shows the audited and recorded performance of BOST in 2015, 2016 and 2017.

A little due diligence by Edwin Provencal and his team at BOST, who is also the 3^rd MD of BOST in three years would have revealed what was clearly an outstanding performance by the NDC led board and management of BOST.

Kwame Awuah-Darko went ahead to mention that, he inherited a legacy debt of US$220million which was contracted in 2006 from Standard Chartered Bank, GCB and Exim Bank by the then management of BOST.

He also inherited a dysfunctional BOST which had only one depot working partially, the Accra Plains depot with the other five BOST depots non-operable. He did not go about making false claims of his predecessors, he folded his sleeves and established a petroleum-trading department within the company, trading mainly petroleum products such as Gasoline, Gasoil, LPG and Crude Oil.

The government of Ghana in June 2015, appointed Kwame Awuah-Darko as the chief executive officer of Ghana’s National Petroleum Refinery Asset, the Tema Oil Refinery (TOR).

In line with his vision of making Ghana the petroleum hub of West Africa, he assembled a highly efficient team within BOST and TOR who followed his leadership to successfully implement and oversee the trade of petroleum products across West Africa which included exports of gasoline and Gasoil to neighboring countries such as, Mali, Niger, Burkina Faso, Ivory Coast, Benin, Nigeria and Liberia among other countries

He went ahead to mention that, for the three years he spent at BOST and the 1.5 years he spent at TOR, he achieved the following;

Strategic Petroleum Reserve Programme

Mr. Awuah-Darko instituted the Strategic Petroleum Reserve Programme and with his team managed to secure credit lines to import petroleum products from inception without any financial contribution from central government.

BOST started importing its own products for the Strategic Reserve Programme from February 4, 2015, and by January 6, 2017, BOST had imported over 52 cargoes of refined petroleum products and 17 cargoes of LPG, making a trade turnover of US$1.6 billion earning a profit of up to US$61 million, a feat never achieved in the company’s 24 years of existence.

Through this programme BOST held Strategic Petroleum Reserve stock of up to 12 weeks of national petroleum consumption. Therefore, in case of an emergency Ghana had 12 weeks buffer of petroleum products.

GOIL Shares

Mr. Awuah-Darko led BOST in the acquisition of a strategic stake in the largest oil retail network across the country by acquiring 20% shares in GOIL to ensure the protection of the Ghanaian taxpayer, making BOST the third-largest shareholder of GOIL.

TOR Revamping

On given the additional mandate of heading the Tema Oil Refinery, Mr. Awuah-Darko assisted in the revival of the Tema Oil Refinery after years of non-operability via BOST and imported up to 9 million barrels of crude oil stocks out of which 7 million barrels was refined by TOR during his tenure as CEO and leaving 2 million barrels in tank on his exit from TOR.

He also initiated and purchased the first indigenous crude the refinery produced from Ghana’s TEN fields. He ended his tenure at TOR in January 2017 leaving 205,279 metric tons of Petrol and Diesel as stock in-tank plus crude oil stock from then TEN fields.

Restoration of National Distribution Network

Under Mr. Awuah-Darko’s leadership, BOST was able to restore five of its six fuel depots from the state of non-operational and several years of delinquency, specifically the Accra Plains Depot (which was half-fit), Kumasi Depot, Buipe Depot, Akosombo Depot and the Bolgatanga Depot which was restored to begin product export into the Sahelian market such as Burkina Faso and Mali, a strategy which generated foreign exchange for the Country.

In addition, the longest pipeline in the BOST network of 271km from Buipe to Bolgatanga was re-commissioned to enable swift, easy and low-cost transmission of BOST products across the country, from the southern part to the northern part.

Deregulation Policy

With the help of the Minister of Petroleum, Minister of Finance, National Petroleum Authority and other stakeholders, they successfully implemented the petroleum pricing deregulation policy. This was the best policy so far in the history of fuel pricing in Ghana

Organizational Restructuring

Mr. Awuah-Darko implemented an organizational restructuring exercise at BOST to introduce efficiency and motivation among working staff. As a result of expansion in BOST’s activities, he created jobs and grew the staff strength from 245 to 487. Subsequently, staff monthly payroll increased by 227%, from GH¢484,738 to GH¢2,135,240 between early 2014 to January 6, 2017.

BOST Office Building

Mr. Awuah-Darko commissioned a twin 10-storey office complex in Accra to curb the consistent overpriced office rent charges. The project was being financed by the contractor who also owned the land, BOST was to take custody of the office complex upon completion and to be paid off from internal profits BOST was generating spread over a period.

Initiated Projects:

On leaving both BOST and TOR on January 6, 2017, Mr. Awuah-Darko handed over strategic projects he initiated but were uncompleted, namely;

The Tema to Akosombo pipeline which was partly completed
BOST had started the process to automate all the depots across the country through an internally generated fund (IGF).
Awuah-Darko had secured funding of up to US$600 million and commenced feasibility studies on a 150,000 metric ton storage facility to be constructed at Pumpuni near Takoradi.

Remember the ethics of your profession – Andani to newly inducted bankers…says era of ‘strait-jacket’ banking over

November 17, 2020

President of the Ghana Association of Bankers, Alhassan Andani has counseled professional bankers in the country, particularly the newly inducted, to conduct themselves in a manner that is consistent with the ethics of their profession, as to act at variance to this would have dire consequences not only for individuals and institutions but the wider profession.

Using the recent financial sector clean-up as a point of reference, he suggested that a blatant disregard for the principles on which the profession was founded was at the root of the rot and cautioned that further erosion of trust from the public would be especially damning.

Delivering the keynote address at the 11th graduation and induction ceremony of the Chartered Institute of Bankers (CIB) Ghana, he recounted the vital role the profession has historically played in the advancement of any economy and argued that the increased prominence of such role has placed greater responsibility on its practitioners.

“As long as we have moving economic structures, banking in its shapes and forms will remain relevant. Therefore, if you have the privilege of working in such noble institution, where hard-working agents of the economy entrust you to transfer the value, you must conduct business with the highest sense of integrity, probity and ethics.

Our history over the last few years has not been a proud one and it all comes down to the ethics of it. On average, if you look at all the professions, banking ranks among the top quartile of those rewarded for a fair job. If you are rewarded for a fair job and you are still challenged by ethics, then that’s alarming,” he stated.

On the necessity of the financial sector-clean up, he added: “down to it were practices in institutions that had absolutely nothing to do with what we learnt here or what your forbearers were taught here as chartered bankers; we just set aside the basic principles of banking and did things.

The general public and taxpayer who had to bailout our colleague banks and safeguard the depositors’ money hold us accountable and they think this is the practice of our profession. It is for you, the new graduands, taking over the helm of affairs to ensure we reestablish a very disciplined, ethically–bound banks to be the true nerve-center of the economy.”

Mr. Andani, who doubles as the MD for Stanbic Bank, charged them not to rest on their laurels but see the charter as the minimum they could attain. He added that the financial sector landscape has witnessed significant changes, saying that the era of banks earning their bread and butter from collections and payments through generic, straitjacket products and services is gone, and cited increased competition from fintech and telcos, with overlapping activities, as a major driver of the change.

As with a study by The Economist Intelligence Unit earlier this year, which revealed that 77% of 305 banking executives surveyed around the world agree that Artificial Intelligence will be the defining feature between successful banks and failed banks, Mr. Andani stated that technology – data, AI and the Internet of Things (IoT) will shape the next phase of banking and urged the new inductees to get themselves abreast with these.

In a similar vein, President of CIB, Ghana, Patricia Sappor, confirmed that the Institute will demonstrate its commitment to the highest ethical standards as well as the future-proofing of its members through appropriate adjustments to its curriculum and engagements.

“We will shortly announce the launch of the Ghana Banking code of Ethics in collaboration with the Bank of Ghana and the Ghana Association of Bankers. Also, our entire curriculum is being revised to align with the changes happening in the global and local banking space.”

At the ceremony, which was described as ‘special’ due to the impressive level of performance, in spite of the disruptions caused by the ongoing pandemic, 239 were inducted into association and welcomed into membership of the charter with another eight graduating.

Forum to promote sign language in early years slated for November 23-25

November 15, 2020

Devio Early Childhood Institute, a non-profit organization that offers capacity building training programs and workshops for teachers in the early years, is bringing together world leaders and experts in the international inclusive education community for its annual forum with various presentations on promoting national Sign Languages in the early years from November 23-25, 2020 virtually.

The institute which is advocating for the use of national sign languages in all early years’ programs worldwide is hosting this event to educate, inform and share resources with participants to help promote action towards inclusive language opportunities for both deaf and hard of hearing children, especially in the early years where their speech and language skills are nurtured.

Speaking ahead of the programme, Lily Kudzro, Founder and Executive Director at Devio Early Childhood Institute, said time is now for action to be taken to help children with disabilities fit into every community and it begins by helping them communicate with others.

“We need to collectively take action towards making the world a better place for all children, and ensuring that no child is left behind by first promoting inclusive language opportunities for both deaf and hearing children, because the foundation of learning depends hugely on effective communication and comprehension. We are therefore hoping that by 2030, at least 20 countries including Ghana, would have made great progress in the implementation of sign languages in their early years learning frameworks,” she said.

The early childhood education sector in Ghana, and in other parts of the world is deficient in investment from government and stakeholders. Also, the sector faces a huge gap of qualified teachers, including inclusive opportunities for all children to thrive, develop their potentials and have their voices heard.

For most children living with physical and intellectual disabilities, the future is not promising. That is why, madam Kudzro says, stakeholders in the educational sector must wake up to this call of ensuring that both deaf and hearing children around the world are offered equal participation and success in education.

Even though the sustainable development goal 4 promotes inclusive, equitable and quality educational opportunities for all children, only 46 countries worldwide recognize their national sign languages, according to the 2020 UNESCO Gem Report; and only about 2 percent of these countries offer sign languages in their national curriculum.

Speakers of the forum include Dr Kara Mcbride, Senior Education and Research Specialist at World Learning; Dr Jody Cripps, Assistant Professor of American Sign Language in Department of Languages at Clemson University, and Allen Neece, International development Consultant

Others include Gabriel Luzu, Malawi National Deaf Association; Ivo Van den Brand, Huawei CBG Global Brand CSR Lead (Huawei Storysign App); Thomas Sabella, Inclusive Education and ECCE Partnership Coordinator at GCE-US and Light
for the World; and William C. Smith, Senior Lecturer in Education and International Development and Academic Lead for the Data for Children Collaborative with UNICEF at the University of Edinburgh.

Interested participants should visit globalsignchallenge.org or devioearlychildhoodinstitute.org.

KMA sets Sunday to disinfect, fumigate major markets in Kumasi

November 13, 2020

kumasi-walking-day-tours — Photo: Kumasi Central Market

The Kumasi Metropolitan Assembly (KMA) has announced to undertake disinfection and fumigation exercise on Sunday, as part of phase three of the nationwide exercise being done to fight COVID-19.

The exercise will start from 8 AM to 12 PM across all the major markets in the Metropolis.

In view of this, KMA has entreated all affected traders and business operators in the selected markets to take note and adhere to this directive.

The markets will be reopened for operations on Monday, November 16, 2020.

The selected markets include Central Market, Kumasi City Market, Asafo Market, Bantama Market, Nana Afia Kobi Market and the Race Course Market.

The rest are Patasi Market, Amakom Market, Sokoban Wood Village, Bohyen Market, Dr. Mensah Market, Santasi and Atasomanso Market, Kwadaso Estate Market, Abrepo Market and Adum European Market among others.

Gov’t declares 7 days national mourning in memory of late Rawlings

November 12, 2020

FB_IMG_1605187065957 — Late former President Rawlings

President Akufo-Addo has announced a seven-day national mourning in memory of the late Former President, Jerry John Rawlings.

Rawlings died on November 12, 2020 at the Korle Bu Teaching Hospital at the age of 73.

President Akufo-Addo has described the death as a great loss which makes Ghana poorer, while announcing that government will work closely with the bereaved family for a befitting state funeral.

The President, in a statement announcing the tragic event, said it occurred this morning, at Korle-Bu Teaching Hospital, where the former President was receiving treatment after a short illness.

“I convey the deep sympathies of Government and the people of Ghana to his wife, the former First Lady, Nana Konadu Agyemang-Rawlings, the children, and family of the late President, in these difficult times.”

In view of this development, he said, all national flags will fly at half-mast for the next seven days in addition to seven-day national mourning which begins from November 13 to November 20, 2020.

Also, in honour of the late former President, he announced a suspension of all his campaign activities for seven days, around the same period.

FBNBank, First Bank partner ICSA to hold virtual digital banking summit

November 11, 2020

Photo: Victor Yaw Asante, FBNBank Ghana Managing Director/CEO

As part of the strategy to lead in broadening opportunities and access to financial services, FBNBank Ghana and its parent, First Bank of Nigeria Limited have announced a partnership with the International Centre for Strategic Alliances (ICSA) to hold the 2020 Virtual Digital Banking Summit.

The Digital Banking Summit is a C-Suite platform that creates a medium for discussions on global trends and disruption in digital banking, how market players can seize opportunities and respond to trends while focusing on pertinent issues like fintech disruption, financial inclusion, blockchain and regtech.

This year’s summit is under the theme, ‘Digitization of Banking Sector – En Route to a Cashless Africa’ and comes off on Wednesday, November 11, 2020.

Commenting on the summit which will feature speakers from FBNBank Ghana and its parent, First Bank of Nigeria Limited as official banking partners, Managing Director of First Bank of Nigeria Limited, Dr. Adesola Adeduntan stated that “technology is an integral part of FirstBank’s business model which leads to the bank’s creation of platforms for customer engagement, provision of products and service offerings for customers when they want it and where they want it.

Dr. Adeduntan opined that “technology is an enabler that provides opportunities to drive efficiency and increase productivity by transforming the bank’s operating model to deliver lean, productive and secure business operations.”

He further stated that “as a brand of strength and dynamism that has evolved over the past 126 years, the First Bank of Nigeria Limited Group is focused on building strong partnerships by providing outstanding products, services and support at every stage in our clients’ life journey while delivering the relevant experiences that exceed their expectations.”

FBNBank Ghana, Managing Director, Victor Yaw Asante, noted that the crisis of COVID-19 has accelerated the implementation of banks’ digital strategies ahead of their timetables. He said banks remain committed to the refreshed operating methods that make them relevant in the banking and finance industry.

He reiterated that as part of FBNBank Ghana’s strategy to bring financial services closer to customers, the bank has leveraged new and evolving technologies to facilitate customer access to everyday financial services such as *894# quick banking, agent banking, online banking and FBNMobile, the bank’s mobile app.

The summit will feature presentations from prominent speakers including the 1^st Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari as the Chief Keynote Speaker; Chen Kun Te, who is the Chief Digital Transformation Officer, Global Financial Services, Huawei EBG; FirstBank of Nigeria Limited Managing Director, Dr. Adesola Adeduntan; Victor Yaw Asante, Managing Director of FBNBank Ghana; and Country Head, Technology and Services, FBNBank Ghana, Rachel Adeshina among others.

Gov’t to reduce cost of electricity to power industrialisation

November 11, 2020

Government has assured that it will work to further reduce the cost of electricity in Ghana to help drive its industrialisation agenda in the private sector.

Currently, Ghana has one of the highest per kilowatt cost of electricity to industry in the West African sub-region, even though government has reduced the cost by 11 percent over the past four years.

“We are determined to further reduce the cost of electricity. Energy is the lifeblood of every economy. We cannot talk about economic transformation through industrialisation without anchoring the discussion on cost of energy,” Senior Minister, Yaw Osafo Maafo said on Day Two of the Ghana Economic Forum(GEF) which focused on the energy sector.

He warned that without reliable, adequate and competitive power supply, ‘Resetting the Economy Beyond COVID-19’ will be a mirage.

Outlining what he called the trilogy of energy supply, Mr. Osafo Maafo explained that there is a need to create huge demand for energy by making power available for industry at a cost that will not be expensive compared to other countries in West Africa.

This, he said, can only be achieved if government enters into power deals that will not unnecessarily increase the unit cost of power – “like was witnessed under the previous government”. Referring to the power sector crisis (Dumsor) that hit the country in 2015 and 2016, Mr. Osafo Maafo stated that government is now very careful when signing private power sector agreements which will increase the country’s financial burden.

He explained that the Akufo-Addo government after assuming office had to take pragmatic steps to help reduce the cost of energy by renegotiating energy contracts from ‘Take or Pay’ basis to ‘Take and Pay’.

Connecting the need for reliable power supply to government’s overall growth agenda, Mr. Osafo Maafo said the One District, One Factory initiative is heavily hinged on affordable power supply to attract investors – recalling that one of the benchmarks investors have always assessed before establishing a business in Ghana is the cost of power, which is unfortunately high in Ghana compered to its peers.

Exploring renewable power

The Senior Minister stated that Ghana has the capacity to explore renewable sources of energy to increase its power supply for selling to other countries across the sub-region. He maintained that with Ghana’s geographical position on the globe, developing renewable power for export is a viable option that can be enhanced to attract investors.

“Now, you can’t talk about affordable and reliable power without talking about renewable power. This is an area we can take advantage of to sell power to industry and then outside Ghana,” he said.

Gov’t takes GEF recommendations seriously

Meanwhile, Mr. Osafo Maafo expressed optimism that recommendations which will be presented at the 2020 edition of the Ghana Economic Forum (GEF) will positively influence government’s policies. He assured that a government team will consider the proposals and recommendations which come from the forum to pursue economic growth.

“I would like to thank the organisers of this forum. For the past nine years this platform has presented some good recommendations to governments. Government therefore places premium on the suggestions and recommendations of this forum,” he said.

He called for recognition of need to make energy reliable, affordable and competitive for the business environment in order to facilitate the country’s industrialisation drive.

Akuapem Rural Bank posts satisfactory growth

November 11, 2020

Mrs. Emma Cordelia Owusu-Amoah, Board Chairperson

Akuapem Rural Bank at Mamfe in the Akuapem North district of Eastern Region has posted a satisfactory operational performance in almost all financial indicators for the 2019 year under review.

The bank’s deposits grew by 12.59% from about GH¢54.9million in 2018 to approximately

GH¢62million in the 2019 year under review. The bank recorded this growth because of

customers’ continued trust as well as an aggressive mobilisation drive pursued by

staff and management. The bank’s total assets grew by 9.53% from GH¢67.6million in 2018 to GH¢74million in 2019.

The Chairperson of the Board of Directors, Mrs. Emma Cordelia Owusu-Amoah. announced these and more at the bank’s 39^th Annual General Meeting of shareholders held virtually last Saturday from the head-office at Mamfe.

According to her, headline inflation in advanced and emerging market economies remained stable throughout 2019, reflecting moderated wage growth. In response to the low inflation environment, central banks in major advanced economies pursued accommodative monetary policy to support growth

On the local front, Mrs. Owusu-Amoah mentioned that headline inflation has remaind in single digits since June 2018, and more recently remained steady around the central path of 8.0 percent. The two readings since the last MPC meeting showed that inflation increased from 7.7 percent in October 2019 to 8.2 percent in November 2019 due to upward adjustment in some administrative prices.

The Ghana cedi depreciated by 12.9 percent against the US dollar in 2019, compared with 8.4 percent depreciation in 2018. Against the British pound and euro, the Ghana cedi cumulatively depreciated by 15.7 and 11.2 percent respectively, compared with 3.3 and 3.9 percent over the same period in 2018. By January 29, 2020, the Ghana cedi had recovered, appreciating by 0.3 percent compared with a depreciation of 2.5 percent in the same period of 2019.

A year after completing the clean-up and recapitalisation exercise, the banking sector’s performance has improved remarkably – signifying positive dividends from the reform programme.

In spite of the challenging macroeconomic environment that pertained both globally and locally during the reviewed year, the bank managed to pull yet another satisfactory operational performance in almost all financial indicators for 2019 as indicated in the table below.

The bank’s performance for the last five (5) years is summarised as follows:

Year	Deposits	Gross Loans	Short-Term Investment	Profit Before Tax	Total Assets	Networth
	GH¢ 000	GH¢ 000	GH¢ 000	GH¢ 000	GH¢ 000	GH¢ 000
2015	30,878.45	12,379.27	23,600.50	2,875.11	41,103.55	8,510.95
2016	39,958.15	14,751.63	30,350.50	2,640.78	50,901.85	9,500.00
2017	48,987,73	15,379.77	34,861.56	1,786.20	60,673.31	9,883.41
2018	54,875.42	17,424.46	37,958.80	1,101.94	67,594.77	10,133.62
2019	61,782.67	16,341.16	44,978.68	551.87	74,033.86	9,969.76

The bank’s paid-up capital stood at GH¢2,153,013 in 2019. Share purchases made for the

year was Gh¢46,626 which is yet to be registered. The Chairperson appreciates shareholders’ continued patronage of the bank’s shares, but further urged them to buy more shares to boost their paid-up capital and enable the bank to do more business.

The bank maintained its membership of the prestigious Ghana Club 100 for the year 2019, placing at 92^ndposition among the top 100 performing corporate entities. The Chairperson promised they will work harder to maintain the bank’s membership and improve upon their ranking in the coming years

As part of efforts to make the bank’s services available to customers 24/7, it has now installed three (3) ATMs at the Mamfe, Madina and Nsawam branches.

She therefore entreated all existing and potential customers to patronise the ATMs, especially during this period of COVID-19 pandemic to reduce the risk.

The bank was ranked in 14^th position by the Efficiency Monitoring Unit (EMU) of the ARB Apex Bank at the end of December 2019 among the 144 RCBs operating in Ghana; however, it was ranked 4^th as at June 2020.

The quarterly ranking uses 16 criteria grouped under the target areas of Capital, Asset quality, Asset utilisation, Earnings/Profitability and Liquidity (CAEL). Efforts are being made to improve upon this performance.

The General Manager of the bank, Mr. Kingsley Kyere, in a telephone interview with Business & Financial Times said the bank’s business focus in 2020 and beyond is on driving growth, innovations, efficiency and service as the main pillars in achieving profitability.

The bank’s business model, according to the General Manager, is still tailored for the Micro Small and Medium Enterprises, and it will push for more market penetration as they develop new and better products as well as trusted relationships with clients of the bank.

He emphasized that the bank will continue to pursue massive share and deposit mobilization; follow stringent cost-reduction policies; strengthen internal control measures; and develop the human capital to meet demands of functioning profitability in the competitive rural banking environment.

Random thoughts of a rural farmer

November 10, 2020

Bank liquidity management(Part I): Defying the 2:1 current ratio in accounting — Photo: Francis Owusu-Achampong,

Today, I am seeking permission from the publishers of this paper and readers of my articles to wander through some random thoughts that have “arrested my attention over the past few weeks”

Electioneering falsehoods

The first of these thoughts relate to the blatant lies that are being churned out in the effort to convince voters to sympathise with one party or the other. Some say it is part of the electioneering campaign but I find some of the submissions too atrocious to be published for the consumption of a populace that has been exposed to this kind of politicking for less than a century.

I find it even more problematic when intellectuals twist facts to score political points among a populace, most of whom find the printed word as equal to the gospel. In view of high illiteracy rates and sometimes blinded by political expedience, some care less about the source of information or data and would skew such as to make you wonder how they earned their Masters and PhD degrees.

Some also think rather, unfortunately, that merely seeing or hearing such from the radio, television or the internet makes some news authentic. They would rather leave their reasoning to radio and television commentators, some of whom need more education than even their listeners or watchers.

Last week, I was forced to hope against hope that the elections would be over the next day so that we could live our lives without the incessant insults and falsehoods and the tendency to appeal to tribal sentiments with the potential to imperil our peace. Some of the commentaries are simply too pedestrian to come from educated persons. Others have no bearing on our developmental aspirations beyond whipping petty tribal and parochial sentiments.

Democracy is expensive

That is another cliché that I find quite amusing. It is a cliché that is often sounded by the educated as if that is enough to silence everybody from contributing to discussions on our national lack of priorities.

Last night I listened with rapt attention to a television programme where a respected senior citizen succeeded in educating me thoroughly on the role the cocoa industry and the Ghana Cocobod have played in Ghana’s developmental efforts. He made me proud to be a cocoa farmer, just that I honestly think cocoa farming now is not as lucrative as I envisaged earlier.

My interest in the said television programme, however, waned when the respected senior citizen attempted to defend why Ghana should have a new parliamentary chamber, citing among other things, that the current parliament is only a tenant of the State Protocol Department! I respect his right to express his opinion unreservedly, just that I disagree with his submission.

Gasping for breath, I wondered whether the State Protocol Department is an entity owned by a private individual like Akua Donkor! Even if that were so, the state is clothed with the authority to take that property legally, subject to appropriate compensation. Are the two institutions not part of government machinery?

To compare our parliamentary chamber to the British parliament and emphasizing that democracy is expensive was like comparing apples to pawpaw. I have always been amused about the simplicity of the British parliament, the arrangement of seats and the seriousness with which the business in the house is conducted…..not the same as when adult parliamentarians without an iota of remorse taunt a widow just because she belongs to the other party.

In the British parliament are lawmakers, some of whom join trains to reach the chamber, because they have collectively and over time, ensured that the train services are conducive for everybody. Others ride inexpensive cars or even hail taxis and similar transport services because the road infrastructure is fit for purpose.

They do not make excuses for their lateness or absence to the chamber because of intense traffic, bumpy or pothole riddled roads. I am not aware that they ask for loans to buy expensive cars fit for use on rugged desert terrains and turn around to elicit sympathies from the electorate for these personal choices.

Yes, democracy can be or is expensive, but so is poverty, ignorance and disease, if any of the latter conditions are rife in a country and allowed to afflict the majority of the populace. Poverty breeds apathy, deprivation, hatred and disrespect for authority and even instability. The maintenance of democracy in whatever form or shape cannot, therefore, supersede any of the above conditions and by implication take most of our national resources.

It is important to stress that peace is not necessarily the absence of war. The degree of hopelessness or frustration ingrained in a citizenry which feels alienated or neglected by the power holders can ignite chaos of such proportions as to make discussions on the need for a parliamentary chamber such an irrelevant discourse in our current high national debt scenario.

A new parliamentary chamber in our current scheme of things is a want, not a need. It can wait! There certainly are more pressing needs in other sectors of the economy after servicing the huge public wage bills, interest on outstanding loans and amortization of prior national debt, the burden of which must be shared equitably.

Why compare our democracy to others who have practiced theirs for centuries and have largely leaped beyond basic needs? The supply of even common chalk here becomes a necessity in some schools and a needless political issue. Others study under trees and dilapidated classrooms, while some BECE students are examined on computers they have never seen or touched before! Efficient allocation of scarce resources will be seen differently by the majority who justifiably feels disconnected to mainstream governance.

Those of us with rural roots feel the extent of deprivation so much not to worry about the exotic conveniences of a select few who will do virtually anything to become members of parliament. The ship of state is not run only by parliamentarians but by all of us working in unison.

I would rather we prioritized our expenditures such that we would have good roads, educational institutions with talented, motivated teachers, well-equipped science laboratories and other learning essentials, less crowded classrooms, quality health care which induces such confidence that the president would not go overseas for medical treatment.

Our premier teaching hospital has less than forty dialysis machines when I am busy dreaming of Ghana becoming a medical tourism destination. Where is the technological infrastructure that envelopes everyone into the global community?

I wish leaders who control the national purse would appreciate how often commuters on exceptionally bad roads within the urban centres and other rural communities curse those charged with oversight of the national resources and momentarily ask if they are still part of the country.

If these do not resonate with those charged with the responsibility of overseeing how our resources are distributed, then we are unwittingly creating a deadly silence that can make a mockery of that over-hyped ideal political form of governance called democracy.

Renovated churches and mosques.

Growing up as a teenager in Kwamo in the 1970s, I used to be highly fascinated by the level of industrial and commercial activities in the Ahinsan and Daban enclaves of Kumasi. It was such a beehive of economic activities with workers running shifts almost all day long. I relocated to Accra to find even more enchanting scenes of economic vibrancy especially in the North and South Industrial areas of Accra.

It was as if I woke up in a trance to find the closure of most of these economic units. They closed one after the other, consumed by an economic malaise that we still grapple to find a solution to.

Before I could discern what was amiss, most of these structures had been turned into gigantic religious centres where congregants mass up almost the whole day in fervent expectation of miracles.

Suddenly, everywhere you go, you will find a church and other religious buildings, some so monstrous and ill-constructed only to fall and kill hapless congregants. I look around and can hardly find enough economic units processing anything worthwhile to help us compete in the global community, apart from consuming what other countries foist on us.

The irony is that this phenomenon is not limited to the cities which have taken in more residents than could be effectively accommodated. As I travel through the rural areas to inspect my farms, I cannot fail to notice that in almost every town or village, the nicest buildings one can see now are church buildings and mosques.

These are being expanded or renovated with touches of modernity, serviced by increasingly impoverished rural dwellers, most of whom are elderly. These have been intimidated to dutifully contribute their meagre earnings towards the renovation frenzy just so that they will get “decent” burials after their death. They close from these same renovated religious centres to enter their dilapidated residential houses hanging perilously from aggravated erosion.

I wonder why the salvation message and the love of neighbour have been conveniently jettisoned when the same members of these congregations will sell adulterated honey, palm oil, groundnut paste, pepper powder and even contaminated palm wine to unsuspecting buyers. Others willfully use substances they know to be toxic in preparing food and other products for their neighbours to consume, only to shout themselves hoarse in religious centres, ostensibly in worshipping God.

I just wish that as we renovate these brick and mortar structures, we shall be reminded to renew our minds and hearts to accommodate each other’s right to dignity, safety and peace. We need to remind ourselves of our common humanity and be conscious of the interest of others in our pursuit of wealth.

I fervently long for the day when we shall become more spiritual than religious and stop spending disproportionately long hours in churches and mosques, fasting and praying our way into avoidable laziness and chronic poverty, while self- acclaimed intercessors flourish from our collective fears.

Pardon me if these random thoughts have bruised any raw nerves. I just cannot help but descend into a reflective mood, sometimes, especially when I consider that Kwamo MA JHS building has not seen any major renovation over sixty years, save some burglar-proof which now adorn the headteacher’s office!

I fully acknowledge that these may not find favour with some interest groups. May be, I have more time on my hands now to engage in reflections as a pensioner and a farmer. Just allow me to hold my views, however unconventional they may appear.

The writer, Francis Owusu-Achampong, is a Fellow of the Chartered Institute of Bankers, an adjunct lecturer at the National Banking College, a farmer and the author of “Risk Management in Banking” textbook.

Email; [email protected] Tel. 0244 324181 / /0576436414

GFIM records new all-time high trade volume in Oct. – GSE monthly report

November 10, 2020

Macroeconomic concerns weigh down GSE in January

The Ghana Fixed Income Market (GFIM) has bested its previous record for trade volume over the five-year period since the inception of the market, reaching a new all-time high in October, according to the monthly report issued by the Ghana Stock Exchange (GSE).

In what represents a bit of good news to the stakeholders of the Accra bourse, the GFIM saw a trade volume of 10.27 billion valued at GH¢10.52 billion, which was 246.08 million more than the previous record set in July of this year and represents an 8.25% appreciation from the 9.48 billion from September, which held the record of being the second all-time highest volume traded.

Year-on-year (YoY), the October volume traded was an 82% growth from the 5.6 billion recorded during the same period in 2019. Furthermore, cumulative year-to-date (YtD) trade stood at 85 billion and was valued at GH¢86.78 billion, a significant 93.94% rise from the 43.83 billion traded over the comparable period in 2019.

However, market liquidity at the end of October did see a marginal dip from the 68% recorded at the end of September to 59%.

On the equity side of things, October saw 35.48 million shares valued at GH¢46.51 million traded. This represents a 40% rise over the corresponding 25.27 million shares traded and a 105% appreciation over the GH¢22.65 million value for September.

This was attributed largely to block trades in telecommunication and banking shares, owing largely to the resilience and even growth of these sectors despite the pandemic, as evidenced by their Q3 reports.

“Cumulative volume and value traded for January to October 2020 was 440 million and GH¢341.71 million respectively. Adjusting for the 2019 block trade of 3.48 billion ETI shares valued at GH¢384.73 million, the figures recorded so far in 2020 indicate an increase in 52.45% (volume) and 41.37% (value) compared to the same period last year,” a portion of the report read.

Despite these, the GSE’s Composite Index witnessed a 1.03 point drop from September with 1,837.27 points and was a significant 14.57 dip from the 2,150.66 points recorded for the same period in 2019.

Market Capitalisation also saw a 0.08% drop from GH¢ 53.16 billion to GHc53.12 billion. This figure was a 4.35% dip from the 2019 figure of GH¢55.53 billion. October also saw PZ Cussons join Mechanical Lloyd as recent companies that have been formally delisted from the Main Market.

Eight start-ups, institutions benefit from GH¢422,612 MASHAV grant

November 9, 2020

The State of Israel’s Agency for International Development Cooperation (MASHAV), has selected five Ghanaian entrepreneurs and three health-care institutions to receive grants worth GH¢422,612 to support them in their quest to implement capacity building projects.

Ambassador of Israel to Ghana, Liberia and Sierra Leone, Shani Cooper – speaking at the MASHAV Grant Awards, congratulated the selected businesses on the grant; indicating that this year 17 qualified Ghanaians submitted their proposals, out of which eight of them were chosen to receive the grant.

She added that out of the hundreds of proposals received from about 30 African countries, the clarity of ideas, sustainability of project and originality of innovation from Ghanaian applications were the best, hence Ghana getting the highest amount of grant.

“These grants are part of Israeli commitment to the development of Ghana, a commitment that began back in 1958 and continued for decades until today. The State of Israel has contributed to Ghana over the years by training thousands of Ghanaians in agriculture, health, women empowerment, education and other sectors; sharing our know-how and sending aid when needed. A lot of MASHAV alumni are now successful business-people and government officials; we are proud of them,” she said.

The projects selected are those centred around three main sectors: agriculture, innovation and health. Three different projects were picked in agriculture: fresh herbs shed-houses; beekeeping training; and field-research on plantain harvests to reduce post-harvest losses.

Two projects in the field of innovation include the maker-place for zero-plastic project; and digitalisation of the Mem-Chemfre savings and loans scheme. In the health sector, two neo-natal units in Suntreso and Kumasi South Hospital as well as a mobile clinic of Gye Nyame in the Ashanti Region were selected for the grant.

The five start-up CEOs benefitting from the MASHAV grant included Nada Danya Asare, who received a grant worth GH¢57,000; Richard Kwame Karikari, GH¢48,000 for training new honey farmers and purchasing 100 beehives; Dr. Ernest Teye, GH¢57,000 for field-research into reducing post-harvest losses for plantain; Nii Nookwei Tackie, GH¢57,000; and Kelechi Victor Ofoegbu of Impact Hub, GH¢57,00, Zero plastic maker space room.

The recipients expressed excitement for the support and promised to put the funds to maximum value in order to achieve set-out objectives for which they were given.

StanChart unveils permanent move to flexible working from 2021

November 9, 2020

Standard Chartered Plc plans to offer flexible work options to more than 90% of its 85,000 staff over three years, a sign of how pandemic crisis management is leading to long-term change in the role of the office.

The bank said about half its staff will be able to apply for some form of hybrid work from early 2021. Standard Chartered expects the program to apply to about 75,000 workers in 55 markets by 2023.

The London-based company is also in talks with a third-party firm to provide “near-home” workspaces for staff, according to a memo seen by Bloomberg News. The plan follows a survey of staff in the U.K. and Asian hubs that asked whether employees preferred to work from the office, as usual, switch to work-from-home or near-home options, or split their time between different venues.

Standard Chartered has said it’s looking at office leases carefully in an environment where lenders are under pressure to control costs, even before Covid-19’s disruption to the world economy. While some bank bosses like Jamie Dimon want their staff back in the workplace, others are leaning towards the approach at Standard Chartered — where Chief Financial Officer Andy Halford recently said: “the word ‘office’ will become a bit of a thing of the past.”

The bank didn’t disclose the name of the third-party workspace provider.

“While we have been thinking through the issues around the future workplace for some time, it’s inevitable that recent events provided a catalyst,” Tanuj Kapilashrami, the bank’s head of human resources, said in the memo.

Offers Accepted

Standard Chartered said about 60% of staff surveyed in this first phase have accepted its offer for some form of hybrid work. Early feedback shows that about two-thirds of staff in Singapore are in favor of some form of hybrid working; that proportion rises to 76% in the U.K. and 79% in the U.S.

“It is anticipated most employees will fall into a hybrid pattern, i.e. some days in the office and some days working from home,” the bank said.

Deutsche Bank AG Chief Executive Officer Christian Sewing said in September that the German lender was examining how employees could split their time between the office and home. Other lenders looking at similar moves include Mizuho Financial Group Inc. and Fifth Third Bancorp as banks see the opportunity to shed expensive city-center locations.

Skeptics of this trend include BlackRock Inc.’s Larry Fink and recently departed UBS Group AG boss Sergio Ermotti. Dimon, who runs JPMorgan Chase & Co., has said that working remotely for too long could decrease productivity.

With more companies reassessing their real estate portfolios, the office rental market is already taking a hit. Vacancy rates in the City of London reached 6.5% at the end of September, up from 5.6% a year earlier, while the average rent for space in the Square Mile dropped 11.9% year-on-year.

Credit: Bloomberg

Standard Chartered goes live with revamped website

November 9, 2020

If you are a regular user of the internet, the concept of a quality website is a clean, well-organized, easy to navigate, and functional interface that motivates the visitor to continue browsing for more and more information.

As such, Standard Chartered Bank Ghana Limited has in line with its brand promise ‘Here for good’ gone live with its revamped website which allows clients to access optimized banking services anywhere and at any time.

On the revamped website, clients will be able to open accounts seamlessly and securely online and access various award-winning banking services offered by the Bank wherever they are. Standard Chartered has upped the ante to provide Ghanaian clients with an optimised website with an enhanced user interface to speed up and enrich the interaction between clients and the Bank.

In recent times, clients have become more discerning and demanding of online experiences and websites that not only look great but those that satisfy their functional needs and give potential customers a great first impression about a business, service or product.

The new Standard Chartered Bank Ghana Limited website includes enhanced features such as optimised landing product pages which have been integrated to request forms for easy data navigation and an enhanced digital banking page that allows one to perform all their online and digital banking transactions quickly.

As Standard Chartered continues to pursue its digital transformation agenda, our revamped website joins SC Mobile as one of the many digital innovations that are being explored by the Bank to build resilience, efficiency and achieve transformative growth for their clients and communities.

So, don’t wait too long visit www.sc/com/gh open an account and enjoy the SC Mobile journey.

You’ve got money: SC Mobile can help you send via mobile money to a wallet!

November 9, 2020

The days of “I don’t have money on me” are long gone. With the advent of mobile money all you need to do is get your mobile device and transfer money from one wallet to another. Whether banked or unbanked, there is no excuse.

Today, there are more than a billion people in the world who own mobile phones but lack bank accounts. It might sound strange for the 21st century, but give careful thought to the situation and you will find that, because of digital technology, which promises a quicker, safer and smarter way of transacting, people are less likely to be interested in joining long queues and completing a booklet of forms to open bank accounts for transactions.

They are more likely to opt for an alternative that allows them to carry out banking and financial transactions without necessarily visiting a bank. Mobile Money has done just that.

In Ghana, Mobile Money has made life easier and this method of transferring money has seemingly become the most inclusive and accepted mode of cashless payment – right from the fancy restaurant at Silver Star Towers to the corner store on your way home.

Anyone and everyone can sign up for a mobile money wallet and with the advent of mobile money payment interoperability – a system that allows the transfer of funds from mobile money accounts to bank accounts and vice versa, the agenda to push financial inclusion is finally being realised as many Ghanaians now have a reason to set up bank accounts to be linked to their mobile money wallets.

At the fore of Mobile Money Payment Interoperability coupled with innovative digital technology, is Standard Chartered’s SC Mobile app, which is making life for the already banked and new to bank population efficient, safer and smarter.

With the SC Mobile App, one can set up a bank account in minutes, without visiting the bank or branch, and immediately enjoy services that hitherto could only be done in the branch. Most notable of these services is the payment service that allows one to transfer money from their bank account to a money wallet.

The mobile money payment functionality permits a transfer to a registered MTN, Vodafone or AirtelTigo Wallet; all while in your comfort zone or on the go.

Especially in these times of COVID-19, it is advisable to find alternative means to remain cashless and carry out banking and financial transactions without visiting the bank. Staying true to its brand promise ‘Here for Good,’ Standard Chartered Bank has made cashless transactions possible through its SC Mobile app and continues to innovate and provide relevant solutions that meet the demands of its customers while ensuring that they remain safe.

Tse Addo comes of age

November 9, 2020

Have you been to ‘East La’, known by its most popular community – Tse Addo – recently? You should, because there is a quiet but beautiful transformation going on in there. It’s really no surprise that Tse Addo is now home to former President Mahama and a growing list of celebrities and politicians. The neighbourhood tucked away behind Trade Fair, is rapidly evolving into a beautiful first-class residential area, yet it still retains much of the liveliness and charm of other parts of Accra.

The houses may be big and behind walls and in manicured gardens but it’s a place where you can still hear children laughing and walking the streets as you drive through the streets. Although still developing, it doesn’t have that new area feel where the less said about the roads, infrastructure and everything else the better! Tse Addo is bounded by a network of new tarred dual carriageways – Giffard Road (the Trade Fair road), the beach road between Labadi & Teshie and ‘Mahama Road’ between Airport Hills & Teshie – all providing excellent links to the rest of Accra.

Within Tse Addo itself, the main roads are in excellent condition and an increasing number of the minor roads are being upgraded. So, although 4-wheel drives are a very common sight in Tse Addo, they are not a necessity, more the cars of choice for the affluent residents moving to Tse Addo. The area is also served by good infrastructure – electricity, water, broadband etc. Thankfully, Tse Addo is not low lying and has good drainage, so no collective holding of breaths every May and October when rainy season comes. In many ways Tse Addo is a ‘plug & play’ neighbourhood, you can literally move into without having to bring your own infrastructure with you at an eye-watering cost. Something that has caught the eye of developers.

Tse Addo is dotted with a range of housing developments – apartments, mid-range and luxury homes – which are being snapped us as savvy home buyers and investors flock to there. Luckily, these are not large sprawling developments and estates which can sometimes be just a little bit sterile with identical houses and colours repeated over and over again. The trend in Tse Addo has been for well-designed small gated developments of a few homes in carefully landscaped surroundings. Tse Addo has long had a reputation of being a safe place to live because of its proximity to Burma Camp. As they say, only the brave, misbehave near a military barracks. Now with the Police Post, it’s not just a reputation.

Inspector Nkrumah Anokye, the Officer-In-Charge at the Tse Addo Police Post, comments: “The neighbours feel very secure because they now see the presence of the police in the community. And if there is any situation that becomes too much for us, we call for reinforcement and they come and assist. Most of the neighbours have our emergency numbers and so once there is a problem, they call and quickly, we are there. Aside from that, we patrol the community every night and that makes the neighbours feel very safe, knowing there is a police presence.”

The police presence is being felt by residents. Emmanuel Nartey Kwapong, a Tse Addo resident for 18 years and a former Assembly Man for 8 years, says: “For security issue, it was terrible some years back. Previously, there were robbery incidences recorded almost every week. But after we got a police post in the area, all those robbery incidences have nearly ceased due to the presence of the police in the community.”

The police’s efforts are complemented by strong community support. Mrs. Linda Stepper, Chairperson of the Burma Valley Association, one of Tse Addo’s active resident’s associations, said the community has set up paid-for extra security known as ‘Hei Julor’ which promptly attends to any security issues raised by members who subscribe to its services. According to her, the response from this communal security organisation is so rapid that, it even attends to any security threat quicker than the police does, and this has come in very handy for the residents covered under this system as they trust that whatever security emergency situation that will arise will be readily dealt with.

“We discussed among ourselves to set up extra security which will complement the efforts of the police. The community formed the Burma Valley Association and the association formed community security called Hei Julor. So, they patrol the neighbourhood from 6 p.m. to 5 a.m. the next day. So I will encourage residents to sign on to this service if they want extra security which will guarantee their safety, she said.”

With careful planning, Tse Addo has successfully blended quiet residential streets and busy commercial main roads seamlessly. So, grabbing that ‘last-minute thing’ is not a major trek for residents. There are many small owned businesses giving residents a good range of services to choose from. Drive along the main roads of Tse Addo and you will see – bars, restaurants, grocery shops, pharmacies, clothes stores, beauty shops – everything for your everyday needs. This is complemented by good nurseries, schools, hospitals, churches, banks and even a university either in Tse Addo or in neighbouring communities.

But the real beauty of Tse Addo is that you’re not far from anything really. It’s close to the leisure and entertainment hubs of Osu, Palace Mall, Accra Mall, Spintex Road & Junction Mall. It’s also just a short drive from the beautiful beaches, hotels & resorts that stretch from Labadi to Teshie. Perfect, whether you’re a young singleton looking for a busy nightlife or a family looking for more relaxed entertainment.

If you are looking for a place to move your home or business, you may just want to take Mrs. Stepper up on her advice, “Tse Addo is open for business and members are ever willing to welcome any new resident or business to the warmth everyone is experiencing in this vibrant community.”

Whoopro: a digital innovation powering brands and influencers to get more value

November 9, 2020

Whoopro, a self-service platform backed by robust technology that connects brands and digital influencers, has been launched. This game-changer will provide cutting-edge seamless solutions to address challenges faced by brands and influencers during digital marketing campaigns.

Influencer marketing has been a key strategy for brands since the boom of social media. According to the Internet World Stats, there were over 11 million Internet users in Ghana at the end of 2019, achieving a growth rate of 39% since 2000. The continuous growth in use of the digital space by people has led companies to see the need to reach their target audience through people of influence.

Whoopro offers three key solutions – Helping brands to find the right influencers; Allow influencers to know their worth and earn more; and Provide real-time tracking, reporting and analytics for both brands and influencers.

Find the right influencers for your Brand

Reach the demographics that speak your brand’s language via social influence marketing. Whoopro brings your brand closer to the people that matter to you.

Earn more from your Influence

Turn your influence into revenue by speaking for the brands you love. Do more than just being social. Whoopro allows you to earn money for your efforts.

Real-time Reporting and Analytics

Track your campaigns in real-time. Export your campaign report and analytics with full transparency and the flexibility to change direction, evolve, and scale a campaign anytime and anywhere.

Whoopro is a digital product developed by Global Media Alliance, a focused Integrated Media & Entertainment Company with over 20 years of experience and expertise in Public Relations and Media Consultancy, Digital and Brand Marketing, Broadcasting, Events Management and Creative Services.

Commenting on the new innovation, Ernest Boateng – CEO of Global Media Alliance Group said: “Over the past 20 years in the communications industry, we have engaged many brands across key sectors of the Ghanaian economy such as banking, insurance, telecoms, beverages, tourism, mobile technology among others, which have in recent years found the need to engage influencers to reach their audiences. Based on this background, we conceived the Whoopro idea in 2017, which today we have developed into a fully-fledged solution provider for influencer marketing.

“After the emergence of social media, we have realised influencer activities have grown to become a source of revenue and employment for people. The introduction of Whoopro creates a converging platform that will give brands more value and influencers more worth to earn,” said Mr. Boateng.

Eli Daniel-Wilson, Team Lead at Whoopro said: “This digital innovation is bringing to market the very much needed structure in how influencer marketing is done. We have built a smart solution to ensure both brands and influencers are getting the best value out of their engagement”.

Daniel-Wilson added: “Whoopro’s unique selling proposition is that it is simple, automated, cost-efficient and self-serving. We want to put power and control in the hands of both brand managers and social media influencers in a self-serving way”.

As part of the launch, Whoopro secured a partnership with Ghanaian Afrobeat singer Kelvyn Boy to promote the artiste’s latest album titled ‘Black Star’. The first 5,000 users of Whoopro will earn money to stream his album on all digital music stores.

‘Black Star’ has a 15-track body of work featuring the likes of Kojo Funds, Kofi Mole, Quamina Mp, Twitch 4EVA, Medikal, Suzz Blaq, OV, Samini, Gyedu-Blay Ambolley, Rocky Dawuni, Black Prophet and Efya.

A 9-member HR Standards Committee inaugurated

November 9, 2020

Photo: The President of CIHRM Ghana, Dr. Edward Kwapong (seated middle), posed with 7 members of the HR Standards Committee who were present at the ceremony and other HR officials

Following the attainment of a Charter Status by the Institute of Human Resources Management Practitioners (IHRMP) – now known as the Chartered Institute of Human Resources Management (CIHRM) Ghana, in August this year, the Institute’s Governing Council has inaugurated a nine-member HR Standards Committee to set standards for its members and all HR Practitioners in the country.

Inaugurating the members at the Institute’s newly-built HR Complex at Tse-Addo near Korr Bridge, La-Accra, the Institute’s President Dr. Edward Kwapong said the Chartered Institute of Human Resource Management-Ghana, as stated in Section 2 of the Chartered Institute of Human Resource Management Act, 2020 (Act 1020), is mandated to promote professional training in human resource management and regulate the profession’s practice of human resource management in Ghana.

“It is against this background and in conformity to the act that this ceremony is being held to inaugurate this committee which will oversee the preparation of these guidelines for the Institute,” Dr. Kwapong explained

The HR Standards Committee is chaired by Mr. Leonard Quarcoopome, who is the current Vice-President of the Institute with over 20 years’ experience in Human Resources Management and Human Resource Development.

Other members include Dr. Ebenezer Agbettor – current Executive Director of the Institute, with over 20 years’ experience in Human Resource Management; Mrs. Sarah Quayson, a manager in charge of HR Localisation at the Petroleum Commission, with over 20 years’ working experience in both public and private sector HR; Madam Boatemaa Manu-Antwi, Head of HR with the Ghana Standards Authority with 12 years’ experience in Human Resource Management and expertise in Regulations; Mr. Francis Eduku – Vice President of Goldfields Ghana with over 20 years’ experience in HRM.

The rest are: Mr. Sam Dontoh – Lead Consultant for Servaid Consultancy, who serves on many boards with over 25 years’ experience in HRM; Dr. Richard Kyereboah – has worked in over 32 countries and has over 30 years’ experience in HRM; Mr. Michael Owusu-Nimako – retired as Executive Secretary of the Public Services Commission (PSC), serves on many boards and is currently Vice-Chairman of the Fair Wages & Salaries Commission with over 20 years’ HRM experience in both public and private sectors; and Mr. Kojo Amissah – President of the SHRM Forum in Ghana, Founder and Lead Executive of CITAM Consultancy with over 20 years’ experience in both Ghana and United States of America in IT and HRM.

The short but impress inauguration ceremony was attended by Mr. Austin Gamey, a Fellow and former President of the Institute; Mrs. Helen Hagan, former Governing Council member of the Institute; Mr. John Eluerkeh, Chairman of the Professional Certification Programme; Mr. Isaac Sackey, member of the National Governing Council of the Institute; and Mr. Andy Okrah, former Deputy Ashanti Regional Minister and former Vice President and Fellow of the Institute.

GEF 2020 opens today

November 9, 2020

Discussions to focus on economic revival

President Nana Addo Dankwa Akufo-Addo will today Monday, November 9 open the 2020 Ghana Economic Forum, a platform that has become the country’s most coveted stage where policymakers, business leaders, members of academia and other experts meet to deliberate on issues which influence government policy and decision-making.

The ninth edition of GEF, which will be held at the Kempinski Hotel in Accra, is appropriately themed ‘Resetting the economy beyond COVID-19; Building economic resilience and self-sufficiency’ as it aims at finding practical solutions for businesses to recover from impacts of the pandemic.

The president is expected to inspire hope and confidence in people, and highlight government’s commitment to ensuring that businesses and individuals rise above the challenges presented by the pandemic to bring the economy back on the path of growth.

Besides the president, the two-day event will also bring on board Finance Minister Ken Ofori-Atta and other ministers of state; Governor of the central bank, Dr. Ernest Addison; heads of some state institutions and agencies; Secretary-General of the African Continental Free Trade Area, Wamkele Mene; Managing Directors of banks, CEOs of top industries; and leading members of the academic community.

Discussions will centre around topics on the economy, energy sector, agriculture sector, continental free trade, among others.

The Ghana Economic Forum saw inception in 2012, bringing together captains of industry and thought-leaders to discuss and debate key issues affecting the Ghanaian economy and offer solutions to enhance the country’s economic development plans. The forum remains the foremost creative force for engaging the country’s top business leaders in collaborative activities to shape the country’s economic agenda.

For eight years, the Ghana Economic Forum’s mission has driven policies aimed at steering the country’s economy on the right path. The event aims at bringing out new thinking and policy alternatives to help shape the country’s agenda for economic growth.

The GEF has over the years contributed to shaping government programmes and introduced some of the innovative policies in the economy. Among policies the forum has introduced over the years is included local content in the oil and gas sector, which was conceived at the GEF. The idea to develop a concrete local content policy to ensure Ghanaians play a significant part in the country’s oil and gas sector was strongly pushed by participants at the first and second editions of the GEF. This formed the basis for the government to develop a local content policy that secures the interests of local businesses within the oil and gas space.

Then came the establishment of the Ghana Infrastructure Investment Fund: the idea to establish the GIIF was postulated at the third edition of the GEF. The GIIF was subsequently set up with the mandate to mobilize, manage, coordinate and provide financial resources for investment in a diversified portfolio of infrastructure projects in Ghana.

The Energy Sector Levy is also another policy. Prior to the introduction of the energy sector levy, the idea and modalities of same were extensively discussed at the fourth edition of the GEF.

Removal of ‘Nuisance’ taxes: at the height of a challenging macro-economic environment four years ago, participants at the 2014/2015 edition of the GEF clamoured for the abolishment of some of the taxes they consider ‘burdensome’. This gained the attention of the then-minority party which first proposed abolishing those taxes in its Manifesto. The Akufo-Addo-led administration hence abolished the said taxes when given the mandate to govern the country in 2016.

The pandemic provides opportunities to deepen financial inclusion – Fidelity Bank MD

November 9, 2020

Fidelity Bank holds virtual networking event for young entrepreneurs — Photo: Julian Opuni, MD, Fidelity Bank Ghana

With banks witnessing significant changes in customer engagement patterns with a shift from traditional transaction channels toward digital platforms, spurred on largely by the advent of the COVID-19 pandemic, Managing Director of Fidelity Bank Ghana Limited, Julian Kingsley Opuni, believes that now is an ideal time to bring the conversation on financial inclusion to the fore.

The pandemic, according to Mr. Opuni, provides the best opportunity for stakeholders in the financial sector to discuss measures to finally move the economy from a cash-based one to a cash-lite one which would witness the further deepening of financial inclusion.

Mr. Opuni was speaking exclusively to the B&FT, as he discussed how banks can leverage the pandemic to drive financial inclusion, in line with the theme for the 2020 edition of the Ghana Economic Forum (GEF), ‘Resetting the economy beyond COVID-19; Building economic resilience and self-sufficiency,’ which begins today.

He added that serious dialogue must be had about the dynamics of financial inclusion, as it is a multi-faceted problem and a one-dimensional approach to addressing it would be counter-productive.

The Fidelity Bank MD, who will be part of a panel to discuss banking and finance in COVID-19 times, stated that in his estimation, the first line of action should center on efforts at increasing financial literacy, especially off the back of the financial sector reforms and the misconceptions that have been propagated as a result.

Furthermore, he suggested that it is simplistic, even erroneous to always equate financial exclusion to poverty as some of the persons who are considered to be financially excluded by definition, hold on to large sums of cash.

He added that these persons must be dissuaded from using cash by touting the advantages, especially the safety and convenience of digital platforms as well as providing them with incentives for onboarding onto digital platforms.

“We must encourage people to go digital, with regards to as much of the real sector of the economy as possible. We are a very cash-driven environment and the lack of visibility has implications for both government revenue and the ability of banks to lend to the real sector of the economy. We must put incentives in place for those that we see are financially excluded, to make it worth their while to be included.”

He also highlighted the inverse correlation between the cost of data and use of digital platforms.

According to Mr. Opuni, the pandemic has sped up the usage of banks’ digital channels. He cited the example of Fidelity, which before the pandemic recorded approximately 60% of total transactions on traditional channels but now has approximately 70% of customer engagements via internet banking, the bank’s mobile application and other digital platforms like WhatsApp.

He added that Fidelity is now seeing an increase in the use of cards for online payments. So much so that the use of cards online has now overtaken the use at Point-of-Sale (POS) terminals, at about 15%, whilst withdrawals at automated teller machines still maintain a healthy lead.

Mr. Opuni concluded by noting that in addition to financial inclusion, he will discuss the role of banks in strengthening the economy as part of his remarks at the Ghana Economic Forum. He further explained that the role that the banking sector can play with respect to the resuscitation of the economy going forward is very important.

He highlighted the value of creating an “ecosystem that includes credit bureaus and stronger legal structures for recovery of assets, among other measures, to create an enabling environment that is conducive to lending and creating the ease for banks to support the recovery of the economy.”

Sale of Bogoso-Prestea Mine: Golden Star Resources’ plan to revert US$53m rehabilitation liability to gov’t

November 9, 2020

Save Bogoso Prestea Mine — Photo: Bogoso-Prestea Mine. Credit: Mining News and Intelligence

Employees and community members of Golden Star Resources’ (GSR) recently sold Bogoso Prestea Mine are petitioning the government to intervene in the mine’s sale due to inherent risks the deal poses to Ghanaian employees and the micro-economy of Prestea Huni-Valley Municipality.

The employees are saying the deal if allowed to go through in its current form, will see the relinquishing of cost to revamp the Bogoso Prestea Mine and environmental rehabilitation liabilities of about US$53million ultimately to government.

This is because the new owner, Future Global Resources (FGR), is a non-listed private 11-month old mining company that has not invested a single dollar in the mine, and could liquidate with any little business stress without losing anything. That ability to liquidate, the employees believe, reverts all cost liabilities to government and at the same time denies employees their legitimately accrued contractual severance benefits.

Golden Star Resources, a mining company operating two gold mines in Ghana, sold one of its subsidiaries in a deal that the employees are currently describing as “putting profits over people” by trading both the employees and other assets to a buyer with no regard for the mine’s future survival.

Golden Star sold the Bogoso Prestea Mine and its labour force to Future Global Resources (FGR), denying permanent employees of the company their legitimate severance entitlement and the opportunity for legal engagement with the buyer – contrary to the employment contract agreement between permanent employees and the employer (GSR).

In this petition submitted to the government following the initial sale announcement on July 27, 2020, employees highlighted with grave concern that the buyer does not have any credentials in the mining industry – unlike the likes of Newmont, Anglogold Ashanti, Goldfields and Barrick – to run a mine with the largest concession in Ghana.

Some critical issues arise from this sale: like the risk of losing the mine in the hands of an inexperienced and non-listed mining company – thus reverting US$53million rehabilitation liability to government, an attempt by Golden Star Resources to violate employment agreements with employees and set a precedent for selling or trading Ghanaian workforces between foreign investors.

Employees and Community Request to Government

Employees and the entire communities of Bogoso Prestea and its catchment area call on the government of Ghana and lawmakers to act as a matter of urgency to save the mine and the communities, as well as secure the entitlement of employees by doing the proper post-sale due diligence of the sale and its content, and to ensure that GSR does the needful required by law.

It is obvious that Lamancha had no interest to turnaround the GSR Bogoso Prestea Mine right from the initial acquisition of shares in GSR, and also would not wish to directly close the Bogoso Prestea Mine as that would impact on their gains at the Wassa Mine and investment reputation, hence trading it to a private, inexperienced non-listed firm at near-zero cost.

Any liquidation of the mine while being owned by the private firm presents no risk to GSR’s business in Ghana; and the private firm, having no investment in the Bogoso Prestea Mine, also loses nothing by reverting the mine environmental and other liabilities (in excess of US$53million) to the Government of Ghana.

The mining communities could collapse at any future date if the appropriate government interventions are not made.

About GSR and its Intent for the Sale

GSR acquired Bogoso Prestea Mine in 1999 when employees had been properly severed by the then Bogoso Gold Limited. All employees were issued with letters of disengagement with contractual severance agreement packages and were offered new appointment letters to sign as an indication of their consent to new employment with the buyer (GSR).

In 2002, the Bogoso Mine made good profit and purchased the Satellite Gold Mine at Wassa Akyempim, which was renamed as Wexford and later named Golden Star Wassa Limited. GSR then operated these two major mines (Wassa Mine and Bogoso Mine) in Ghana. The two mines operated concurrently with support to each other in the areas of finance and labour.

During the third quarter of 2018, Lamancha Investment Group bought majority shares (30%) and became the major shareholder of GSR at a time when Bgogoso Prestea Mine was struggling to get a positive cash flow while its sister Wassa Mine was making a good profit and supporting the Bogoso Prestea operations.

On the record, Bogoso Prestea Mine had supported Wassa Mine between 2014-2016 when it was in negative cash flow until 2018 when the Wassa production experienced positive cash flow. Lamancha’s business model from its website publications emphasises short-term organic growth for acquired mining firms, and it was poised to achieve that.

In 2019, Lamancha appointed the then CEO of Lamancha as CEO of GSR. On assuming office as the CEO of GSR, Mr. Andrew Wray culled the old GSR executive team and replaced them with a new team predominantly from the Lamancha group. About 70% of all investment announcements made after the third quarter of 2018 by GSR was used to develop the Wassa Mine.

Six months after assuming office, Mr. Andrew Wray – the CEO, indicated that the Bogoso Prestea Mine was on a negative cash flow and hence impacting the entire GSR business cash flow; meanwhile, the same CEO directed most capital investments to the Wassa Mine.

On 27^th July 2020, the CEO announced the preconceived ultimate pre-acquisition plan of the sale of Bogoso Prestea Mine – and to no other mining firm but a newly-formed 8-month old mining company with no mining experience anywhere in the world.

This new mining firm – Future Global Resources – is a private firm non-listed on any stock exchange, and has no traceable and/or credible website. This is the firm the largest mining concession in Ghana was sold to by Golden Star Resources, to the detriment of the workforce and mine community.

Employee and Community Concern about Mine Continuity

Fact findings indicate there was absolute neglect of employees on the sale, and the announcement came as a surprise to the entire workforce which had been working assiduously to ensure the turnaround of Bogoso Prestea Mine. The sale agreement indicated employees had been transferred to the Mine’s buyer without their consent – which is tantamount to colonial slave-trading of labour and also against the contract agreement these permanent employees have with the Bogoso Prestea Mine. The transfer denies employees their free choice of employer, which is enshrined in the Ghana Labour Act (Act 651) and against international human rights laws. Employees argue that they are not part of the company’s transferable assets or balance sheet to be traded as equipment or plant, as is the intent in this case.

The entire mining community is concerned about the ability, tenacity and resilience of a non-listed private firm with no prior mining experience to run the mine that has the largest concession in Ghana and operates both underground and surface operations. The like of Newmont, Goldfields, Barrick and AngloGold Ashanti could have given the community an assurance of mine revamp and a viable mine community.

There is a fear of the employees and mining community that the private, non-listed firm could bolt at any time under the slightest business stress – similar to the previous history of Bontey Mine in the Ashanti Region, in which scenario the mine management vamoosed and left the mining community worse-off.

Inherent Objectives of GSR

It is evident, based on the duration of GSR’s investment in Bogoso Prestea Mine, the time of registration (UK registration) of the buyer (FGR) and sale transactions between GSR and FGR, that GSR’s focus is on Profits and not People, as the acquisition was meant to profit from an already profit-yielding Wassa Mine with camouflage to revamp the Bogoso Prestea Mine.

The entire game-plan was to get rid of the Bogoso Mine and make exploitative gains from the Wassa Mine. The CEO of GSR, in the third-quarter published business report, revealed that the intent of the sale was to clean up the balance sheet and that the future survival of the Bogoso Prestea Mine is of no relevance to the GSR management team as indicated in the report: “The Bogoso-Prestea disposal removed US$24m of negative working capital and a US$53m rehabilitation provision from the company’s balance sheet”.

The sale is also structured such that the buyer (FGR) pays zero dollar in acquiring the mine, and that all payments are deferred and contingent on some milestone achievement as indicated in the announcement:

“The cash consideration payable by FGR for the asset is deferred and will be paid as follows:

US$5million of cash is payable on the earliest (i) date at which FGR puts in place a new reclamation bond with the Environmental Protection Agency of Ghana, or (ii) March 30, 2021;
US$10million of cash is payable on July 31, 2021;
Approximately US$4million of cash for the net working capital adjusted balancing payment is payable on July 31, 2021; and
US$15million of cash is payable on July 31, 2023.”

By inference, GSR in a cunning way is cheating Ghana as a country in the exploitation of her gold resource and robbing its citizens.

This business approach by GSR is non-ethical and has focused on taking advantage of loopholes in the Ghanaian legal system to make excessive gains while leaving the country with potential costly liabilities.

The dubious precedence of GSR’s business strategy of making quick gains from the nation’s resources, while denying working citizens their legitimate rights of severance and choice of employer, will be a landmark precedent to be emulated by many foreign investors if Ghana as a country and its leadership do not react to rectify such colonialist labour-trading and exploitative practices of investors – by streamlining investments to ensure win-win scenarios between Ghana and foreign investors.

Rural Telephony Project connects over 3m

November 9, 2020

1,000 more sites to be rolled out in Dec. 2020

The completion of 2,016 rural telephony sites at Atwereboana in the Adansi South district of Ashanti Region, under the Rural Telephony Project (RTP), has brought network coverage to over 300,000 unserved and underserved communities with a population of three million citizens, President Nana Addo Dankwa Akufo-Addo has said.

This development, according to the president, will provide an opportunity for over three million people to connect with their relatives and friends while also enabling them in gaining access to socio-economic, health and educational engagements.

The RTP, which is being financed by a €155million facility secured by the government from the China Exim Bank, is expected to help promote digital inclusion and reduce the digital divide gap.

Addressing a gathering of chiefs and some industry stakeholders at the project’s unveilling, President Akufo-Addo said modern communications have become vital to the growth of most economies. “Access to information empowers individuals and communities, enabling them to escape from poverty while laying the foundation for sustainable development.”

While recognising that network connectivity in modern times has become a basic necessity of life, just like water and electricity, he noted that some 30 percent of Ghanaians in rural areas have little or no access to information and communication technology – thus widening the digital divide.

Photo: President Akufo-Addo, accompanied by Dompoasehene, Nana Okofo Sobin Kai II, and the Minister of Communications to unveil the plaque at the project site

He said if these individuals continue to be left out of the nation’s advances in ICT, it will lead to a lot of potential wealth and human resources being untapped. He, therefore, assured that the government is committed to ensuring every Ghanaian has access to affordable and reliable voice and data connectivity.

It is in this regard that he said the Ministry of Communications and Ghana Investment Fund for Electronic Communications (GIFEC) – in partnership with MTN, Vodafone and Huawei – are rolling out the rural telephony project. The project will provide data and voice connectivity to 2,016 rural telephony sites strategically located in underserved and unserved communities across the country.

The president said current technology being deployed through the project is about 50 percent less than the cost of traditional cell sites – making the project economical and financially feasible, and therefore it will generate good returns on investment.

“The Rural Telephony Project will also provide new areas for ICT growth in Ghana while raising substantially the level of ICT literacy, especially during this COVID-19 era when the need and demand for ICT skills has increased exponentially.”

The Administrator of GIFEC, Abraham Kofi Asante said: “Over the past couple of years, the purpose of the RTP has been to expand voice service to these communities, with populations of less than 1,500 – thereby improving their access to quality mobile service. Currently, however, the RTP has been enhanced to provide broadband service due to the evolution of technology”.

He said through this innovation, some 400 RTP sites serving about 1,200,000 people within 2,000 communities through innovations and partnerships have also been established.

“GIFEC is ensuring effective use of the equipment deployed in underserved and unserved communities by providing ICT capacity-building for all persons in both the formal and informal sectors, as well as teachers and students. Over the past four years, a total of 502,600 persons have been trained in ICT programmes. 182,000 children have been trained to provide solutions to social problems through the Coding for Kids project.”

Minister of Communications, Ursula Owusu Ekuful, reckoned that the project marks an important feat in the country’s quest to expand access to electronic communications for all underserved and unserved communities in the country.

She said the government has built close to 500 sites in three years while noting that the RTP project will build on this backdrop to extend connectivity to all parts of the country in the next 18 months – targetting to connect some 3.4 million Ghanaians to voice and data network.

The ministry, she said, will continue to provide the necessary policy and regulatory support, and promote initiatives and projects in line with its mandate of facilitating the development of reliable and cost-effective world-class communications infrastructure and services.

While commending the GIFEC and other partners involved in this Public-Private Partnership (PPP) arrangement, she disclosed that a total of 1,000 sites are expected to be rolled out by December 2020.

Tech meets fashion: Samsung to star at Glitz Africa Fashion Week

November 8, 2020

The connection between fashion and technology has never been stronger. These days, people express their sense of style through smartphones and smartwatches when taking pictures in their best outfits, whether in front of a mirror, at glittering events, memorable moments or on the red carpet. Clearly, technology has become an inseparable part of fashion, beyond the soft and hardware.

So it’s no surprise that at this year’s Glitz Africa Fashion Week, Ghana’s biggest annual fashion and lifestyle event, Samsung will showcase its most avant-garde innovations on the runway, including the Galaxy Z Fold2 and Galaxy S20 Fan Edition.

Running from 6 to 8 November, the 8^th edition of Glitz Africa Fashion Week will roll out the red carpet as this exciting, Pan-African celebrity, fashion and lifestyle brand assembles esteemed industry players, fashion designers, entrepreneurs, influencers, students and enthusiasts to engage in an interactive weekend in Accra.

Samsung firmly believes in using technology to connect people to exciting experiences the way fashion does. “Samsung has made the Galaxy Fold2 and the Galaxy S20 Fan Edition available to illustrate how fashion designers can enhance their work and creativity using these innovative devices,” said Eugene Nahm, Managing Director for Samsung, Ghana.

“At Samsung, we believe in reshaping and redefining the possibilities of the mobile device experience. Our innovative technology enables trailblazing innovators and entrepreneurs to be more efficient and perform at the peak of their industry,” Mr. Nahm added.

Despite the disruption of the COVID-19 pandemic across the globe, the Glitz Africa brand remains resolute in pushing the agenda of promoting the fashion industry in Ghana and Africa.

With the annual Business of Fashion Seminar, Free Street side event, presentations, film screenings and runway shows, characterizing the 2020 Glitz Africa Fashion Week, Glitz Africa is committed to providing a holistic experience in fashion education, exposure and entertainment.

These series of events lined up for the Glitz Africa Fashion Week create an ideal setting to showcase Samsung’s latest technology, given the important role they play in establishing cultural trends and innovations in design, fashion and lifestyle. Samsung’s new models are bound to turn heads.

Discovery Teens Magazine rebirthed

November 8, 2020

… throws a spotlight on adolescents surviving COVID-19 period

To highlight the challenges adolescents face in their transition from childhood to adulthood and recognise the critical issues of development, publishers of the Discovery Teens Magazine (DTM), has launched the second edition to assists both teens, parents, and teachers, especially in this dreadful COVID-19 times.

To achieve its intended objectives, the second edition of DTM was painstakingly put together with vital contents including a comprehensive review of adolescence, and parenting adolescence, career choices & development, sexual reproductive issues, culture & values for life, and child protection issues.

Other germane topics include the impact of COVID-19 on adolescents, youth & gender equality, child marriage, French with ease, disability not inability, and questions with answers, among others.

Managing Editor of DTM, Mercy C Adjabeng, speaking at the launch emphasised that DTM’s objective is to provide credible information that would help educate and guide adolescents to make informed choices, noting that modernity, advancement in technology, and some negative socio-cultural influences have impacted the transition process and therefore a holistic approach to enhance the adolescents’ growth is paramount.

“We did research and found out that the coronavirus impacted adolescents differently. We know that their main way of engaging is socialising but with the complete ban on such gatherings, some of them did not know how to handle it and the parents that should have to help them were themselves confused. So, we concluded that we need to create platforms where adolescents will feel free to ask questions and express their needs in a way that they will get help.

This improved version also comes with French with ease content because Ghana is surrounded by Francophone countries and French is an international language so the ability to speak it is an advantage, however, a lot of students find it difficult because of how it is presented, so we had support from the French Embassy in Ghana to encourage adolescents to learn a second language,” she said.

Guest speaker, DJ Switch, in her address indicated that adolescents in the country have talents, goals, and potentials that are not harnessed nor developed because they lack the right mentorship and guidance. She, therefore, called on parents, teachers, and all adults to give a listening ear to adolescents, guide, and protect them in order to be able to develop their talents to full potential.

“My fellow adolescents, despite the many challenges, issues, and risks that we are exposed to, we still must remain focus on developing our talents and potentials. We must also avail ourselves to be guided, advised, and mentored in order to enable us to develop the leadership qualities in us because we are the future leaders,” she said.

Sex education and self-defence mechanisms must be thought in schools, homes, churches and all social engagements with the teenagers to help the adolescents identify the threats and protect themselves against the same to remain safe, she added.

Cecil Sunkwa-Mills, MultiChoice MD, features on Y Leaderboard Series

November 7, 2020

Ghana’s number one youth-oriented radio station, Y107.9 has hosted the Managing Director of MultiChoice Ghana, Cecil Sunkwa-Mills on the Y Leaderboard Series.

As is the norm on this authoritative show, the leader shared some of his childhood memories, upbringing, career, family life, and life mantra. Growing up, Cecil noted that he learnt how to build relationships with others and also be competitive in sports.

“You learn how to build relationships and be competitive with sports. If you didn’t have a girlfriend, they would laugh at you, and having a girlfriend meant having someone you could share a pencil with. As a child of a headteacher and enrolling in primary school at age 5, Cecil recounted, “It was a struggle.”

Speaking on his career path, Cecil revealed that he had always wanted to be in the medical field. However, his work at the Red Cross organization was more business-related that he found interest in marketing and business.

“The Red Cross exposed me to more things that I did well. My dad died when I was 26 and overnight, I had to grow up. There was nobody to shepherd me. I just had to do what I had to do. I think what I had that steered me on was my mindset was a growth mindset. I always thought that when a door closes another opens so I did not stop.”

Cecil highlighted the importance of mentorship both directly and indirectly when he shared: “When I was in primary school, there was one guy, Siaw Tata, he is the person who built the ABC Brewery. His kids were my mates in primary school. I admired how he organized his family but then he was not really educated but he had set up a big business. There were others that I narrowly got to meet but I saw the work that they did. And I said that when I grow up I want to be like them.”

Commenting on his family life, he praised his wife for her enormous support that has helped him over the years to achieve greater things.

He used the opportunity to advise parents to support their children on any career path and desist from imposing a career path on their children. “Probably what you want them [your children] to do is good but they have their own dreams and they should be left to do their own things. Support them to do it,” he added.

In his concluding remarks, he advised the youth, “Don’t go for a fixed mindset. Always go for a growth mindset. Nothing is cast in stone. Yes, mistakes can only be the key to your next steps. It is never too late to pick up something and go to the next one. If something doesn’t happen now, it can still happen. What is most important is to take your time, look at yourself, and look at the most important things that you want to do.”

Programmes Manager for YFM Accra, Eddy Blay, speaking on Cecil’s interview on the Y Leaderboard Series, commented: “We are really privileged as a country to have great leaders who are ever ready to inspire the youth. Cecil throughout the interview hammered on perseverance, having a growth mindset despite the mistakes you may make in life. This is undoubtedly one inspiring lesson we must pick to go on when things get tough.”

The Hahaha Show set to make a comeback on Dec 5

November 7, 2020

Your favorite monthly comedy show, The Hahaha Show is coming back for the first time after the nationwide lockdown. The show which has stayed consistent over the months has thrilled patrons with top-notch productions which leaves them always asking for more is set to mount a comeback after the world was hit with COVID-19.

The show, which has seen hilarious performances from Teacher Kwadwo, Oh Joo Sammie, Comedian Khemikal, Ajeezay DaNonfa King, Comedian Jerry to name a few, is slated to happen on Saturday, December 5, 2020.

Performers billed to take center stage Include DKB, Comedian OB, Clemento Suarez, Foster Romanus, Jeneral Nta Tia, Comedian Waris, and the man of the year Ay Poyoo.

Tickets are going for a cool GH¢69.00. Dial *789*3*4# to purchase a ticket. If you purchase tickets in advance with the shortcode, seats will be reserved for you. The show is happening at Rockstone’s Office inside cantonments near the police headquarters. The show starts at 6 pm.

So come let’s end 2020 in grand style, we cannot allow COVID-19 to destroy the entire 2020. For more information and enquiries contact 0242919230. The Hahaha Show….U Go Laf Saaaa!!!

Vlisco trains trade partners on digital marketing

November 7, 2020

Vlisco Ghana has organized a two-day master class on digital marketing to help empower their retailers to expand their digital footprint and engage in e-commerce in response to growing online customers’ demand.

The course model trained the retailers on basic knowledge in social media, the strategic planning process, best practices in social media as well as a customized training on WhatsApp for Business. This training provided the retailers with the basic skills to recover from the economic devastation emanating from the Covid-19 pandemic.

Speaking at the training, Reverend Stephen Badu, Marketing Director of Vlisco Ghana said: “there is no denying the impact the COVID-19 pandemic has had on our business partners. We are committed to supporting them to get through these difficult times, and we believe that this masterclass will provide very useful tools, allowing them to establish a digital identity and presence in an easy and low-cost way. We shall continue to build their technical capacity while expanding their online visibility, especially in these difficult times.

The digital space and social media for that matter have been driving a lot of conversations around the world in recent times. People continue to turn to social media to share their experiences, information, and to make purchasing decisions. This training is to help our retailers target these people and reposition themselves to weave into the new normal successfully,” added, the Marketing Director.

On his part, Cecil Evans-Chinery, National Sales Director of Vlisco noted that social media has become a part of everyone’s life and it is something that influences their daily life. He advised the retailers to tap into the space to improve their business bottom line.

At the end of the training, the retailers opened Facebook, Instagram, and WhatsApp for business accounts.

Influencer Africa launches with Sarkodie, 5000 other influencers

November 7, 2020

Influencer launch (6) — Photo: Sarkodie in a chat with others

There is simply no denying the relevance of influencers in today’s digital market in Africa. Influencers are people who have sway over people’s choices or preferences and—at the risk of sounding literal—they have an influence on people’s buying decisions. The bond between influencer and viewer is an organic one which allows natural opportunities for commercialization.

Influencers have become the standard for niche marketing. The influencer approach to marketing promises something that brands cannot match—even with considerable effort. That thing is relatability. What the influencer sells is not just the brand they are advertising, but also the lifestyle that comes with that brand.

It is for this reason that Influencer Africa has signed over 5000 influencers across a vast breadth of industries. You name it, and there is an influencer setting trends within that niche. Be it fashion, lifestyle, technology, beauty, food, beverages and even travel, Influencer Africa has the right voice that people will want to listen to. That is precisely who an influencer is.

The biggest drawback of an influencer focused approach to marketing for a brand is the logistics of it all. How do you find the right influencer for your brand? How do you measure the effectiveness of an influencer campaign to be able to put it down as money well spent? And even beyond that, how do you manage influencers so that their output matches your vision without infringing on the influencer’s authenticity? These questions are why Influencer Africa comes in—to make things seamless and mutually beneficial for brand and influencer.

Influencer Africa already has a significant presence in the African countries of Nigeria, Liberia, Côte D’Ivoire, Cameroun, Uganda and Kenya. The company is launching in Ghana in the hopes of bringing its expertise as a bridge between influencer and brand to brands on the Ghanaian market.

The Influencer Africa register of influencers can be broken down into mega Influencers (influencers with over 1 million followers), macro Influencers (follower count between 100K and 1 million) and micro Influencers (influencers with a follower count between 10K and 100K).

The Ghanaian register currently includes names like Sarkodie, Ameyaw Debrah, Joselyn Dumas, Medikal, Joey B, Caroline Sampson, Nikki Samonas and Delay among others.

ESPN 2 – X Games feature: US confirms skiing and snowboarding events for this winter

November 7, 2020

The world of extreme sports has received good news in recent weeks, with the United States confirming the schedule for World Cup freestyle skiing and snowboarding events this (Northern Hemisphere) winter, although the Alpine Skiing World Cup will not have its usual North American events.

Viewers on DStv can enjoy even greater sporting action, with ESPN 2 having exclusive rights to the X Games the extreme sports festivals hosted, produced and broadcast by ESPN. The International Ski Federation (FIS) confirmed World Cup schedules for freestyle skiing and snowboarding for the 2020-21 season, the year before the next Winter Olympics in Beijing.

The U.S. will see three venues Copper Mountain in Colorado, Mammoth Mountain in California, and Deer Valley, Utah host 22 skiing and snowboarding events. These will be pending state and local approvals, with Copper Mountain and Deer Valley not allowing any spectators.

The first halfpipe snowboarding World Cup is scheduled for Copper Mountain from December 16-19, with the likes of Olympic champions Shaun White, Chloe Kim and Jamie Anderson likely to be involved after their recent training time in Europe.

The second Visa Big Air contest featuring skiing and snowboarding is also scheduled for Copper Mountain on December 16-19. Last year’s inaugural Visa Big Air contest, held at the Atlanta Braves’ SunTrust Park, was won by U.S. Olympians Alex Hall and Chris Corning.

In 2021, the weekend of February 3-6 sees Mammoth Mountain host the U.S. Grand Prix for halfpipe and slopestyle skiing and snowboarding, while Deer Valley holds a freestyle skiing World Cup for aerials and moguls.

The scheduling of these events is a promising sign for the resurgence of extreme sports, but the pandemic continues to impact other winter sports events. For example, the Alpine skiing World Cup will not make its usual North American stops in Killington, Beaver Creek and Lake Louise due to coronavirus pandemic-related travel concerns.

Figure skating’s autumn Grand Prix Series is going ahead, but with skaters limited to one start rather than two and, for the most part, in their home nations. December’s Grand Prix Final, a 2022 Winter Olympic test event in Beijing, has been postponed. The first Grand Prix is Skate America in Las Vegas in two weeks, without ticketed spectators.

Bobsled, skeleton and luge World Cups will not have their usual stops in North America, keeping their circuits in Europe and China for Winter Olympic test events. Their seasons start in late November. World Cups for short- and long-track speed skating in November and December were also cancelled.

DStv is your home of the Entertainment and Sports Programming Network. Visit www.dstv.com to subscribe or upgrade, and join in on the excitement. And while you’re on the move, you can stream the action on the DStv App.

Joyce Appiah-Agyekum’s thoughts: Impact of COVID-19 on study abroad

November 7, 2020

Photo: Joyce Appiah-Agyekum, CEO of Education Consult Solution (EduSol)

The Coronavirus or COVID-19 outbreak has caused a lot of disruption to life all over the world. It has affected both economic and social activities globally among others and caused low productivity in all spheres of business and economic life. There is also its attendant closure of businesses, various travel restrictions and bans of movements internationally and domestically.

As a result, tourism has greatly been affected and quite linked to tourism studies abroad. Closure of schools has led to many online studies on platforms such as zoom. Many universities have had to make changes in their operations and innovate many ways by which teaching and learning happen. As Coronavirus has become an important issue worldwide, it is important that much care is taken in order to curb it’s devastating nature and to see to it that the world can still operate in a safer way.

Many deaths have been recorded worldwide and as there seem to be an apparent new wave or second wave further precautions have been put in place so as to reduce the rate of infections and further spread. Countries like Germany, France are on a second lockdown.

In Ghana further calls for coronavirus protocols are being pronounced and enforced. All these are measures to find solutions and stop the virus from further spread. As schools and other businesses seek to work to prevent their total collapse it is important for all to understand this call and seek to undertake measures that will be appropriate. Should companies seek to adapt to working from home, many workers may not be laid off if COVID-19 protocols are well observed.

Thus the wearing of nose masks, washing of hands, use of sanitizers, social distancing and all other COVID-19 protocols are necessary to be enforced now more than before. The whole world is really in uncertain times and for many looking to study abroad, there is the need to understand that universities are still keen to welcome international students.

For this reason, Education Consult Solution (EduSol) is here to take you through the right processes. We will assist all your needs relating to study abroad. Education and career counselling, choosing the right university and location, applying for the right visa category and travelling safely is paramount.

We will make available to you institutions that are ready and interested in the wellbeing of international students. If your interest is to study abroad you still can, but you necessarily have to understand the issues relating to Corona Virus and Study or travel abroad. So please consider your study abroad schedule and make the right choices. There is no reason why you shouldn’t study abroad once the pandemic is understood, respected and managed.

One study has shown that, although more than 40% of international students who planned to postpone their studies changed their mind, only about 5% cancelled their study abroad plans altogether. The rest are taking further safety precautions seriously and looking at the total environment and how things are unfolding to firm up their decisions.

If it is now probably too late for you to study abroad in 2020, you can still take steps to begin your processes in good time and begin your study in January/March/April/August or September 2021. Assuming restrictions all around the world are lifted by mid-2021 or there is a better way to curtail the virus by then, the process of studying abroad should return to normal.

How the pandemic will affect international study in the long term remains to be seen. It could lead to increased demand in 2021 as those who delayed their studies in 2020 may apply to study in 2021. So if you are interested, the earlier you begin the processes the better.

Whatever the situation is EduSol is here to make sure that educational advice, career counselling, document formatting, university admission, study visa, and travel arrangement are seamless. We work hand in hand with partner institutions abroad. If you are looking at studying abroad, we are happy to work with you to make it happen. International education and exposure OPEN doors for many and we “hold your hands” to take you through these doors! If you want to study abroad during this COVID-19 era do not fear or wait. We will take you through.

Whether or not you’ll be able to study abroad will depend on the restrictions in the country you want to study in and what the relating issues are in your home country at the time you travel out to study.

Every university will have its own procedure in place, we assist you to select the best country and university that we will make your study worthwhile. If you are unsure of what to do, we will make it clearer and offer a better process. Many universities are actively still seeking international students to enroll and because we work with them we are aware of the many alternative arrangements in place if you can’t travel immediately or when the term starts. We will turn your anxiety into reality.

At EduSol we unearth the educational potential of students and offer them the opportunity to study, learn and live abroad. We are always at your service and ready to answer any questions you may have. Our services are clean and client appropriate

>>>the writer is the CEO of Education Consult Solution (EduSol). EduSol is your number one educational consultancy and recruitment partner for institutions abroad. We unearth your educational potential and offer you the opportunity to study, learn and live abroad. We are located at Palm Wine Junction Shell Filling Station, Off the 37 – Trade Fair Giffard Road or contact us today on +233 540 611 829 / +233 509 014 339 or Visit us at www.edusolconsult.com to learn more.

MTN Bright Scholars record outstanding results

November 6, 2020

Six beneficiaries of the MTN Bright Scholarship programme have graduated with first-class honors from the Kwame Nkrumah University of Science and Technology, University of Education and the University of Cape Coast respectively.

These beneficiaries were supported by the MTN Ghana Foundation through its Bright Scholarship Scheme to pursue degree programs in various disciplines. The scholarship covered their cost of tuition, accommodation, a stipend for books and other relevant reading materials that were needed during their studies.

Mr. Samuel Appiah (B.Com Finance), Elvis Attah (B.Sc Biochemistry), Francis Chempa (B.Sc Information Technology) and Seth Kofi Pobee (B.Sc Physician Assistant Studies) all graduated from the University of Cape Coast whilst George Armeyaw (BSC Integrated Science Education) and Robert Atim Annab graduated from the University of Education and Kwame Nkrumah University of Science Technology.

In his valedictory message as the best graduating student of the College of Agriculture and Natural Resources, Kwame Nkrumah University of Science and Technology, Robert Atim Annab said: “my special thanks goes to MTN Ghana Foundation for the award of Bright Scholarship, As someone coming from a less endowed background, I would not have achieved this great success without their financial support.”

Commenting on this remarkable performance, the Corporate Services Executive of MTN Ghana, Samuel Koranteng said: “MTN Ghana Foundation is proud to see how well our beneficiaries are doing. We are very excited about their future and we believe that all of them will work towards contributing positively to society”.

The MTN Bright Scholarship was initiated in 2018 and was in fulfillment of a commitment MTN made to Ghanaians during the commemoration of its 20^th Anniversary in 2016. During the celebrations, MTN, through the MTN Ghana Foundation promised to award a total of 300 scholarships over a period of three years. The final batch of 100 scholarships were awarded this year for the 2020 edition of the Bright Scholarship scheme.

The MTN Ghana Foundation has over a 12-year period awarded over 1300 scholarships to students from basic school to the tertiary level through different scholarship programs.

NBSSI, MasterCard Foundation support 50 entrepreneurs in Ahafo with start-up kits

November 6, 2020

Fifty entrepreneurs in the Ahafo Region have received massive support to propel them begin their businesses.

The 50 beneficiaries have undergone successful training in hairdressing, baking and confectionery, sewing and welding. They have also been presented with free start-up kits for the various enterprises. The items include sewing machines, hair-dryers, welding machines, ovens and gas cylinders among others.

The gesture is part of the implementation of the Apprenticeship to Entrepreneurship (A2E) component of a partnership project between the National Board for Small Scale Industries (NBSSI) and MasterCard Foundation.

The three-year project ‘Young Africa Works in Ghana’ which was launched in June 2020 seeks to create access to dignified work for 39,000 youth and micro, small and medium-sized enterprises (MSMEs); about 70 percent of the targeted group will be young women. Other components of the project are Innovation, Creativity and Entrepreneurship (ICE) and MSME Business Acceleration (MBA).

During the short ceremony at Hwidiem in the Ahafo Region, the Executive Director-NBSSI, Mrs. Kosi Yankey-Ayeh, in a speech read for her said the Young Africa Works project is in line with the government’s commitment to creating decent, dignified and sustainable jobs to cushion socioeconomic development of the country, adding: “Since 2017 the NBSSI has created over 18,600 jobs, 61 percent of these figures are females.”

She encouraged the beneficiaries to make the utmost use of the start-up kits to better their lives and also advised them to seek knowledge at the Business Advisory Centres (BACs) to improve their businesses. The NBSSI Boss commended its partners- MasterCard Foundation for the support and commitment to grow and develop the MSME sector in the country.

Mr. Robert Dwomoh Mensah, District Chief Executive for Asutifi South for his part, applauded the NBSSI for its transformational drive to change the status quo of MSME sector in the country. He said internally generated fund (IGF) of the Assembly is not encouraging, attribution the situation to inactiveness of the private sector, particularly MSMEs in that area.

Photo: Beneficiaries & officials in a pose

The DCE resolved to partner NBSSI to improve the situation so as to boost revenue generation in the district. He advised businesses to embrace the concept of innovation and adaption to modernity to be relevant. Mr. Mensah also urged the public to patronize locally produced goods and services to help the growth and development of local businesses.

A beneficiary, Linda Serwaa, 26, in an interview described the gesture of NBSSI and MasterCard Foundation as “game-changing intervention” and expressed her sincere appreciation for the support.

The young hairdresser from Goaso said: “I completed my three-year apprenticeship in January 2020 but the future was quite bleak because support was not forthcoming to buy start-up kits to begin life. But little did I know that God was going to make a way for me.”

Rwanda-Ghana relations to spur Africa trade agenda

November 6, 2020

Rwanda and Ghana have resolved to tighten bilateral relations with a broad, varied economic agenda at the core.

This week, the Minister of Foreign Affairs and International Cooperation of the Republic of Rwanda, Dr. Vincent Biruta travelled from Rwanda to Ghana to take part in a series of events that will help to strengthen and consolidate diplomatic and economic cooperation between two countries that have expressed commitment to see increased trade volumes among Africans.

Towards this end, the President of Ghana, Nana Addo Dankwa Akufo Addo has met with the Minister of Foreign Affairs and International Cooperation of the Republic of Rwanda, Dr. Vincent Biruta at the seat of Ghana’s government in the capital Accra, during which the two governments pledged their commitment to make the African Continental Free Trade Area agreement (AfCFTA) work.

The commitment of the two governments comes as a major boost to intra-Africa trade prospects ahead of the implementation of the Africa Continental Free Trade Area agreement, set to come into force on January 1, 2021. It is expected that the coming into practice of AfCFTA agreement will increase the share of intra-Africa trade by 50% between 2020 and 2040 and bring together over 1.2 billion people and a combined economy in excess of US$3.4 trillion.

Earlier, Dr. Vincent Biruta and Ghana’s Minister of Foreign Affairs and Regional Integration, Mrs Shirley Ayorkor Botchway signed a General Cooperation (GCA) agreement that will see the two countries deepen cooperation on a wide range of sectors including trade and industry, tourism, and education.

Besides the GCA, Minister Biruta shared details of other agreements currently underway to further streamline relations between the two countries.

“We are also working to conclude bilateral agreements in the justice sector as well as in the areas of finance and trade that I am convinced will be finalized soon.

The agreements in finance and trade will unlock an incredible number of potential business opportunities between our two countries. Ghana, with the headquarters of the AfCFTA Secretariat, understands the importance of intra-Africa trade, especially as we try to rebuild our economies following the socio-economic impacts of the COVID-19 pandemic”.

While in Ghana, Dr. Vincent Biruta also met with the private sector operators of Ghana at a business luncheon that revealed the significant interest of Ghanaian businesses in trading with Rwanda.

The climax of the visit of Dr. Biruta to Ghana was to join his Ghanaian counterpart, Ayorkor Botchway at a high-level ribbon-cutting ceremony to inaugurate the High Commission of the Republic of Rwanda in Ghana. The event was attended by heads of various diplomatic missions in Ghana, business executives, the Rwandan Community in Ghana and the media.

The opening of chancery in Ghana’s capital, Accra is a further indication of the commitment of the government of Rwanda to deepen bilateral cooperation with Ghana and contribute to the greater development and improvement of the lives of both the Rwandans and Ghanaians.

Dr. Biruta at the official inauguration event said: “Our well-established diplomatic relations have been materialized by the continued engagement between the leadership of the two countries at the highest level. The Rwanda Resident Mission in Accra further comes to cement these existing relations.

“This decision to make an investment in the future of our relationship is based on a firm conviction that there is a huge potential to strengthen the many links and interests that we share for the benefit of our respective people.

“We are also working to conclude bilateral agreements in the justice sector as well as in the areas of finance and trade that I am convinced will be finalized soon now that we have a High Commission in Accra…Ghana, with the headquarters of the AfCFTA Secretariat, understands the importance of intra-Africa trade, especially as we try to rebuild our economies following the socio-economic impacts of the COVID-19 pandemic.

“Our Multilateral cooperation will also be enhanced with the presence of a Mission here, and we look forward to continuing to support each other’s country on the international scene where we often share the same African agenda including the reforms of the African Union and the Sustainable Development Goals.”

Dr. Vincent Biruta also met the Secretary-General of the AfCFTA Wamkele Keabetswe Mene who expressed optimism that strengthened relations between Ghana and Rwanda in trade set a practical example that African countries, given the right support and political will, can trade together for the betterment of the continent.

Currently, trade between African countries is low, hovering below 20 percent and the increased relations between Rwanda and Ghana is an upliftment to the continental-wide agenda to increase trade volumes among countries on the continent.

The CEOS’ CEO –Justice Ofori, Commissioner of Insurance

November 6, 2020

The Honour: ‘Ever since you assumed the position of the Commissioner of Insurance and Chief Executive Officer of the National Insurance Commission…your achievements, key among which is the introduction of the Motor Insurance Database (MID) to checkmate fake motor insurance in Ghana cannot go unnoticed. Your institution of an Insurance Education Fund to build the capacity of the industry and educate the insuring public to see the value in insuring their lives and property are phenomenal. The GJA hereby confers on you: ‘HONORARY MEMBER OF THE GJA’.

These are the words as contained in the citation that accompanied the decoration of Mr. Justice Ofori, Commissioner of Insurance at the recently held 25^th GJA Awards.

Life has an interesting way of dealing with us as humans. Things happen; plans do change; mistakes are made and corrected and events unfold. To mitigate the consequences of these occurrences, the concept of insurance was developed.

His entry into the insurance profession was somehow accidental. After his last paper at the country’s premier university, University of Ghana, he had the opportunity to sojourn in Canada for a reasonably long while. It was during this period that he decided to study courses in Banking and Insurance – a career identified!

From 1990 to 2004, Mr. Ofori held various positions at McLarens Toplis in Canada, Allianz Canada and CGI Canada as a Licensed Independent Claims Adjuster. He has over 28 years of experience in Insurance with almost 4 of this being the Regulator.

Driven by the desire to return to help his country, Mr Ofori returned to Ghana in 2004 and decided to have a practical stint with the local insurance industry. His first local employment was with Vanguard Assurance where the then Managing Director, Mr Emmanuel Mahama Baba gave him the opportunity as the Senior Manager in charge of the Corporate Department and he did not disappoint. This thus led to his appointment as the first and the longest-serving Director of the Ghana Insurance College (GIC) before the President, Nana Addo Dankwa Akufo-Addo appointed him as the Commissioner of Insurance.

Mr Ofori has indeed justified the confidence reposed in him by the President! He could best be described as a process and a business-minded personality blessed with organisational and results-oriented acumen.

The CEOs’ CEO

As the leader of the National Insurance Commission (NIC) which oversees operations of all insurance entities in Ghana, he turned around the business-as-usual phase of the Industry to that of a revived one that keeps everyone on his or her toes. There is no time wasted on implementation strategies as he believes in his personal mantra: ‘Anything conceived to be done at all must be done now’.

The leadership skills in him was discovered as a young hockey-player in his days at the secondary school where he earned the nickname: ‘Konkoronkor’ due to his leadership skills on the field of play. To suit his physical attributes and drive, he earned the name ‘Ammunition’ at the Vandal City. He believes there is only one university in the world – ‘the University of Commonwealth Hall’.

With high hopes of changing the not-so-encouraging trend in the awareness creation bit of the industry, he championed and continues to do so in providing basic insurance education to all categories of people.

Passion for Insurance Education

The launch of the Basic Insurance Education with the Ghana Education Service (GES) has been one of his dreams crystalizing as he believes that when people understand [during their formative ages] the importance of insurance rather than the compulsion to purchase insurance, uptake becomes a norm! This collaboration is expected to result in the introduction of insurance as a basic course of study at the second cycle institutions.

The commencement of the training for National Service Personnel posted to the Motor Traffic and Transport Department (MTTD) of the Ghana Police Service sets in motion similar arrangements for recruits and Officers of other security agencies i.e. Ghana Armed Forces, Ghana National Fire Service, Ghana Prisons Service, Ghana Immigration Service, Customs Excise and Preventive Services, etc.

‘If media personnel get it right, then the people would get the message’ is his firm conviction. With this in mind and through his leadership, the NIC got closer to the media fraternity as it provided a series of training programmes for journalists in Ghana on the basics of insurance. This was with the view of creating awareness and also ensure that media reportage is in its rightful place with journalists having a firm understanding of the business of insurance.

Mr Ofori has done a lot and continues to do so for the development and growth of the insurance industry by way of policy formulation, project initiatives and implementation as well as training and manpower development.

Employment Creation for the youth

The training of 10,000 Youth as Insurance Agents is part of the awareness creation and employment creation strategy which will go a long way to propel the growth of the industry as well as create employment for the youth.

Introduction of the Motor Insurance Database to the world

The introduction of the Motor Insurance Database (MID) to checkmate fake motor insurances gives the assurance to the general public that the insurance on their vehicles have valid insurance. This is perhaps the biggest game-changer in the insurance industry in any country as it is the first of its kind not only in Africa but in the world to have certain unique features as in instant SMS upon the purchase of insurance.

Mr. Ofori and the Ghana Insurance College

Mr Ofori who believes that the progress of the insurance industry is hinged on conscious and consistent manpower development. Within a decade, he superintended the training of over 300 insurance professionals who attained the ACII status at the time he was the Director of the Ghana Insurance College. “Iron sharpeneth iron”, he believes.

It is little wonder many a practitioner and a past student under his tutelage calls him the Insurance Schwarzenegger. This apt description may not only be because of his physical and mental toughness but his passion for manpower needs and development in any field.

The NIC now recognizes qualifications in insurance obtained from the Ghana Insurance College (GIC) for the chartered insurer status. With this credential, an insurance practitioner can hold Principal Officer positions such as Chief Executive Officer or Chief Operating Officer which was previously the preserve of the Chartered Insurance Institute CII UK or Chartered Insurance Professionals, CIP (Canada).

He has spearheaded the construction of an ultra-modern structure and permanent ultra-modern-state-of-the-art campus for the GIC at Dodowa as the College’s current Governing Council Chairman.

He also serves on the Board of the National Health Insurance Authority (NHIA). As a Member of the West African Insurance Institute (WAII) Governing Board, Mr Ofori is also an Executive Member of the ECOWAS Brown Card Council of Bureaux.

Industry Practitioners Training

Through his leadership and support of the Board of Directors, the NIC’s Insurance Education Fund instituted to build the capacity of the industry and educate the insuring public has made it possible since 2018 to have a minimum of eight (8) mainly residential capacity-building programmes organized annually. This is done for all levels of the industry personnel including Directors and Shareholders, Principal Officers and middle-level Management Staff of Insurance entities.

IPSAS – NIC blazes the trail

It is gratifying to know that through his leadership, the NIC has implemented the International Public Sector Accounting Standards (IPSAS). The Commission’s 2019 financial statements are therefore fully compliant with the IPSAS. This makes the NIC one of the few state agencies to have blazed the trail globally ahead of the set deadline for compliance with IPSAS’ international best practices.

Strengthening of Stakeholder Relationships

The Commission has strengthened its close cordial working relationship with key stakeholder agencies including the Driver and Vehicle Licensing Authority (DVLA), the Ghana National Fire Service (GNFS) and the Motor Traffic and Transport Department (MTTD) of the Ghana Police Service, National Road Safety Authority (NRSA), the Ghana Private Road Transport Union (GPRTU) etc. Each of these organisations is helping to uphold the NIC’s mission of increasing public confidence in insurance in diverse ways under their various jurisdictions.

Creation of 3 additional Regional Offices

In order to improve its presence nationwide, and bring the policyholder protection services to the doorsteps of all the people in all parts of the country, the Commission has created three (3) additional Regional Offices bringing the total number of regional offices to seven (7). These are the Koforidua, Cape Coast and the Sunyani Regional Offices.

Enhanced Relationship with Donor Agencies

The NIC’s relationships with donor agencies such as the German Development Corporation (GIZ) and Alliance for a Green Revolution in Africa (AGRA) continue to yield the needed results with their continuous support to the financial inclusion agenda.

Education

Mr. Ofori holds a Bachelor of Arts degree from the University of Ghana, Legon and a Diploma with Honours in Banking and Finance from the Toronto School of Business, Canada. He also possesses degrees from the York University, Canada and the University of Toronto, Canada. He is certified in Management (CIM) by the Canadian Institute of Management and is a licensed Independent Adjuster, Ontario – Canada.

Mr. Ofori has an International Executive MBA degree from the Paris Graduate School of Management and is a Fellow of the Insurance Institute of Canada (IIC) and a Chartered Insurance Professional (CIP). He is also a Fellow of the Chartered Insurance Institute of Ghana (CIIG).

The future of Ghana’s Insurance industry

With insurance uptake coverage over 30% of the country’s population, he believes a lot more work needs to be done.

For him, insurance is tied to the economic growth of Ghana. He explained that insurance needs to be brought to the doorstep of many low-income earners and educating them on its benefits as this would serve their immediate and future needs.

As the Regulator of the Insurance industry in Ghana, Mr Ofori indicated that complaints about some attitudes of certain insurance companies towards their clients will not be left unattended as the Commission has a core mandate to protect the interest of policyholders.

Passions

Apart from his love for insurance, he lives the saying: ‘a healthy mind thrives better in a healthy body’. For him: “I feel guilty any time I fail to exercise”.

Post pandemic economic recovery: Let efficient resource mobilisation, digitisation, et al lead – ACET

November 6, 2020

The success of any economic recovery after the pandemic in Ghana, and African at large, will depend on how resources can be efficiently mobilised and managed with digitisation and innovation as well as an improved business and investment environment.

These, along with transparency in governance and expenditure, according to K.Y. Amoako founder and President of African Center for Economic Transformation (ACET), can act as economic “rebound” measures that will help position Ghana and the continent for a more rapid and sustainable period of growth in the years ahead.

Pursuing such policies, will also ensure that the continent’s transformation agenda is not permanently derailed by the pandemic shock, he said in a release titled, Africa after COVID-19: Policy priorities to drive economic transformation.

“Creating fiscal space through efficient resource mobilisation and management is critical to allow for adequate COVID-19 health and economic response. With the collapse of industry in most countries and the extra burden of tax forgiveness related to COVID-19 response packages, revenue generation will become significantly more difficult. Governments should move swiftly to close tax loopholes and eliminate exemptions and concessions, particularly for global corporates and wealthy individuals.

This would include taking steps to prevent tax-base erosion and profit shifting by companies from one jurisdiction to another. Complementing this could be medium-term measures to increase tax revenues by simplifying VAT policy, extending tax collection to the informal sector, and improving enforcement and collections through credible inspections and professional audits,” Mr. Amoako advocated.

On digitisation, he said long-term economic recovery and growth in Africa require accelerating digital economies and fostering broad innovation. In this regard, he said, in seeking investments, governments should actively encourage venture capital funding to encourage entrepreneurship and advances in technology and innovation.

“African digital startups mobilized a mere US$1.1 billion in funding in 2018, compared to US$7 billion in India and US$70 billion in China. Crowding in more venture capital will help African countries spur business and economic activity, especially in technology. Countries should also prioritise a more robust and interconnected innovation ecosystem between entrepreneurs and tech hubs, funders and development partners, and policymakers and other government actors.

These efforts to drive innovation and entrepreneurship would be served well by a comprehensive national innovation policy that aligns with national development priorities and highlights sectors that will support job creation,” he stated.

Additionally, African COVID-19 recovery plans should focus on eliminating overlapping government initiatives, streamlining implementation, and addressing bureaucratic bloat. It also implies improving budget management by line ministries, with special attention to waste and fraud.

“This would include vigorous vetting of government projects based on sound economic, technical, and financial criteria. The capacity of the auditor general should be strengthened for rapid and robust audits and reviews. Where applicable, results-based budgeting should be introduced,” Mr. Amoako said.

Although the Coronavirus induced crisis has not spared any aspect of the global economy, he posited that it offers an opportunity to re-examine national development strategies and ensure that they have adequate financing to serve as implementable roadmaps to economic recovery on the continent.

He, meanwhile, said a sustainable post-pandemic recovery will not be possible without improving the business and investment environment in Africa.

According to Doing Business 2020, Sub-Saharan African economies raised their average ease of doing business score by just 1 percentage point in the last year. Such an entrepreneurial environment, to him, will not enable businesses to grow and thrive—or create much-needed jobs.

Ideally, he said governments must move quickly to foster investment in key sectors after the crisis, particularly in infrastructure and manufacturing. This, coupled with improving the ease of doing business, can help Africa tap into a very large latent capital base looking for bankable projects globally, despite the crisis.

“Moving beyond the short-term, extraordinary efforts should be taken now to pave the way for easy and rapid private sector activity, including the establishment of new firms, corporate expansion, and improved company registration and taxation policy,” he said.

“Lastly, these or any policy initiatives will only go as far as country leaders are willing to take them. COVID-19 has created deep and potentially catastrophic economic challenges across the continent, and the implementation of the type of measures outlined here will require sometimes painful trade-offs for policymakers.

In that context, the transformative political leadership—having clarity of vision, governing selflessly, building trust among citizens, maintaining political will—is going to be more important than ever. To their credit, many African leaders and heads of state reacted swiftly to contain the spread of the pandemic and saved lives. They must show the same fortitude to save economies and ensure the eventual success of Africa’s transformation agenda,” he further noted.

Retail in COVID-19 times: innovation, e-commerce and scaling successfully

November 6, 2020

“The only constant is change,” might seem like an overbeaten cliché but COVD-19 has once again brought the veracity and usefulness of the expression to bear. Whilst pandemics are not new, the effects of the current one, anchored largely upon the world being interconnected on a scale never seen before has left no country, industry or business unaffected.

And although the net effect appears to be negative, as with any crisis, there has been a great opportunity presented to introspect and make positive adjustments. The pandemic, which seemingly came out of nowhere, has changed the way we work, learn, socialise, leisure and conduct business, and retail is no exception.

The nation, and by extension, the continent, seems to have been spared the worst of the pandemic. However, there are changes being experienced to every facet of life, which by all indications will remain permanent features

Conservative estimates suggest that at least 85% of businesses in the country are Micro, Small and Medium Enterprises (MSMEs), which contribute approximately 70% to GDP. Furthermore, whilst debate still rages on about the most appropriate definition of the informal sector, it is agreed upon by most that it includes small and large scale sectors, largely unorganized but economically productive which are usually slow to adopt (modern) corporate practices, with retail being the largest segment.

The retail space, which had previously been characterized by cultural practices such as in-person purchase to ensure quality and rapport building, varying standards and price-haggling, had in recent times began to give way to less personal, more standardised ways of doing things.

With rapid urbanisation and the demands of work, particularly in cities, the inertia that initially greeted the adoption of e-commerce has largely disappeared. The advent of COVID has only served to accelerate what was already in motion.

For context, a panelist CEO of Hubtel, Alex Bram revealed at the recently held MTN Business World Executive Breakfast Meeting that demand for food and personal effects were up by some 400% in the months following the lockdown with 200% rise in digital payments witnessed. In addition, he disclosed that his firm has seen a steady rate of some 120 new clients using its e-commerce tools. Such figures point to the premium customers are willing to pay for convenience and quality.

While a short-term reaction is needed to survive, long-term planning and execution will determine those who emerge from the pandemic as market leaders. So the question on the minds of retailers must be, how best can businesses innovate, particularly using technological tools in the changing face of retail?

Retail’s new face

It is a given that due to security fears or simple preferences for a personal experience, many had been reluctant to shop online, but this has changed. Customers have had to set aside their misgivings and, in many cases, have been pleasantly surprised. The convenience of not having to go a physical brick-and-mortar store has outweighed the factors which were once considered deal breakers for them.

In light of this, it is evident that the vast majority of retailers without some form of an online presence and/or delivery channel are unlikely to survive in the medium to long term. Whilst there might be exceptions, such as vendors who provide certain niche products to a unique clientele, for theirs, embracing e-commerce s increasingly becoming non-negotiable.

For retailers and brands looking to grow online, there are two basic routes to be considered – launching and managing their own brand store or using existing electronic marketplaces. Many successful retailers are carefully mixing both.

A business’s scale and scope of operation and consumer base will be the determining factor as to which of the two strategies to apply or what combination of both.

The brand store is a retailer’s own online channel, which should be integrated with existing offline operations. This allows for greater engagement with new and existing customers and more control of service levels. Crucially, it allows the retailer to provide a consistent experience and message to its customers.

While it has many advantages, it can be expensive to set up, promote and maintain and may take time to launch and requires whole new mindsets, skillsets and capabilities which can be quite difficult to acquire as they very much in demand. In reality, not many retailers require a full-blown digital channel.

Enter option number two; existing electronic marketplaces. Many retailers are enjoying the benefits of listing on existing marketplaces including Tonaton and Jumia. They allow for an accelerated online market presence, a low initial outlay and access to a platform with a track record. Some refer to these market places as ‘the shopping malls of the future’ and are increasingly important for helping retailers trade at volume.

Again, there are downsides to this approach. Obtaining a listing can require strict adherence to defined and challenging service levels which many small retailers might not be able to meet. Also, any retailers on these platforms will be one among many others and the competition can be quite intense for those who don’t have a strong brand presence or some kind of unique offering. Furthermore, instances of fraud have been recorded by persons using these platforms, which go to weaken public confidence in the fidelity of goods and services listed.

Thankfully, a number of indigenous financial technology firms are by themselves or in collaboration with more established financial institutions (and in some instances telecommunication companies), offering a number of business-to-business (B2B) and business-to-consumer (B2C) e-commerce solutions for retailers.

Reservations

Two primary considerations seem like the most likely to impede the advancement of innovation and e-commerce adoption in retail in the country. As has been established, the retail sector is vast and is populated by persons with stunted literacy.

A great challenge would be how to educate them (without being condescending) about the merits of e-commerce solutions particularly for businesses whose goods and services are largely priced inelastic, that is, price doesn’t have as much an effect on demand. Players in the retail segments Fast Moving Consumer Goods (FMCG) and other essential commodities spaces are likely to fall under this category.

Also, for a society where verifiable personal records are not a feature, there is the lingering issue of (mis)trust. Even with the advancements in e-commerce, there are still concerns surrounding trade conducted without in-person interactions.

Strategies

The aforementioned MTN Business Breakfast session held under the theme, ‘The Changing Face of Retail in Ghana: Scaling successfully with Innovation & E-commerce’, brought to bear some insight from seasoned business owners on how to navigate the murky waters of new retail.

These include a revaluation of business models, especially digital business models. Participants were advised to revisit the foundation of their business models to ensure that they are still valid in the context of digital sales channels, profit models, and the services that can be provided to customers.

Contrary to the convention of cutting expenditure on marketing as the first line of action whenever there is a downturn in demand, Business Strategist and CEO of the Hair Senta, Gwen Gyimah Addo, entreated business owners to streamline their marketing through digital platforms such as social media.

Also, customer experience was identified was vital to the success of any retailer post-pandemic. With increasingly limited in-person interaction, customers are placing a premium on the ease of use of digital platforms, the general level of convenience.

Businesses were also implored by the CEO of indigenous coffee brand Kawa Moka Coffee, Emi-beth Aku Quantson, to revamp their supply chain to ensure they have enough of their products to satisfy consumer demand.

CEO of Skin Gourmet, Violet Amoabeng, for instance, identified first impression as arguably the most crucial factor in post-pandemic retail as such emphasis must be laid on packaging and delivery, especially for goods and services which might be ingested or applied to the body. Business owners must “go over and beyond,” especially when dealing with unmet expectations by customers.

Closely related to this was trust and integrity and how faithfully the good or service meets the clams of the vendor, “promise little, delver much,” was advocated over the opposite.

Even payment platforms must be reliable, the panel suggested, with MTN’s Mobile Money market share attributed in no small part to the reach and trustworthiness of the platform.

Poor performance in any of those areas could result in severe damage to a retailer’s brand. Consumers have grown accustomed to a very smooth online purchasing experience and rapid delivery. People will walk away from a brand, both in its online and offline incarnations if the experience is in any way sub-optimal.

Looking ahead

The evolution of retail as a result of the pandemic has presented a great opportunity to push the Made-In-Ghana agenda and increase appetite for local commodities in the face of the options that could potentially flood our markets when AfCFTA takes-off. However, it remains to be seen if local vendors can sustain supply to match demand.

In view of this, a handful of institutions are providing a bouquet of solutions for MSMEs and Small Office/Home Office (SOHO) outfits, with MTN characteristically ahead of the pack.

The array of tailored solutions offered by MTN include the MTN Business Manager which offers SMEs and SOHOs the features of an Enterprise Resource Planning (ERP), Sales Management software and business management service all in one user-friendly and affordable digital platform. This service comes with both the web portal and mobile app with full features available for less than GH¢ 10.

Others include the MTN Business Messenger, a service that allows SMEs and SOHOs to manage their communications with their customers and manage their social media presence. The platform allows businesses to instantly communicate with multiple customers in bulk via SMS as well as the MTN Unicom, geared toward providing access to audio and video conferencing solutions, Interactive Voice Response (IVR), and Virtual Private Branch Exchange (PBX) for businesses to enable them to stay in touch with and maintain the modern digital business image.

There is much to be benefitted from if small businesses form partnership arrangements to take advantage of the specialities of the individual firms and could be a game-changer across many value chains.

Whilst we seem to be winning the battle against COVID-19 in our sphere, what the future holds is anyone’s guess, there’s now no excuse for failing to prepare for any eventuality. Indeed, it seems quite evident that companies that invest courageously and timely in pivoting their businesses toward the behavioural changes can capture market shares and emerge as market leaders post-pandemic.

Editorial 2: GCAA’s decoupling from air navigation service unit, major boost

November 6, 2020

unnamed — Credit: Ghana Civil Aviation Authority

Parliament has unanimously passed the Air Navigation Services Agency (ANSA) bill to decouple Ghana’s air navigation service unit from the Ghana Civil Aviation Authority (GCAA).

This follows a decade and a half of advocacy by aviation industry players for the country to follow best international practices.

The International Civil Aviation Organisation (ICAO) and Civil Air Navigation Services Organization (CANSO) have over the years pushed for this, as they believe the move will ensure efficient, cost-effective and customer-oriented air navigation services for airlines and other users.

According to them, GCAA (which became an authority in 1986) has a responsibility as both a regulator and services provider, which acts as a constraint – hence the need for separation to resolve any conflicts of interest.

The act, which was passed by parliament on November 4 this year, will lead to the establishment of the Air Navigation Services Agency to provide air navigation services within the air space of Ghana, and any other airspace under the control of Ghana and other related matters.

The move adds to the country’s continuous high record of improving aviation sector reforms in line with meeting the President’s vision of making Ghana the aviation hub of West Africa.

According to the Global Journal of Management and Business Research 2013, experiences in other countries have shown that when there is a separation of the regulator from the service provider, it unlocks the values of providing a better service.

We believe this signifies a major boost to the country’s aviation industry and positions the country favourably to assume the enviable mantle of being the aviation hub of the West Africa sub-region.

Editorial: Ayekoo to our gallant farmers & fisherfolk

November 6, 2020

Food and Jobs programme — Planting for Food and Jobs (PFJ)

This year’s National Farmers’ Day is being observed today owing to the fact that Ghana goes to the polls on December 7 to elect both the President and parliamentarians, though December 4 will still be observed as a public holiday.

The B&FT uses this auspicious occasion to congratulate the country’s hardworking farmers and fisherfolk on the occasion of the 36^th National Farmers’ Day celebration.

Without their untiring efforts to put food on the tables of Ghanaians, food security would be illusive.

This year’s National Farmers’ Day is particularly solemn because the world is still battling an unknown virus that has overwhelmed even the most powerful of countries on the globe while a remedy is sought.

This fact has been amply magnified in the second-quarter GDP growth report of the Ghana Statistical Service (GSS) which clearly showed that while growth in the industrial and services sectors contracted during the peak of the pandemic, agriculture maintained its resilience and led with the highest growth of 2.5 percent.

Hence, there is every reason to celebrate our gallant farmers and fisherfolk because they maintained fortitude and despised the devastating impact of coronavirus to put food on our tables. The government instituted National Farmers’ Day in 1985 to recognize the vital role farmers play in socio-economic development.

Hence, the first Friday of the month of December every year is set aside to honour farmers and fishermen. This celebration has now been ingrained in national life with the prizes on offer growing more valuable with each passing year.

In recent times, the focus has been to view the sector as a business rather than just for subsistence, so that the farmer can reap the benefits of his/her labour, provided they adopt improved agronomic practices by using improved seeds, fertilizers and adopt mechanization processes to ease the drudgery associated with the vocation.

Among the challenges faced by smallholder farmers who form the bulk of agricultural producers (roughly 70%) is the unreasonably high rate of post-harvest losses which has been an age-old problem which can reach levels of 49% of the volume of output depending on the crop in question.

This is currently being addressed with the construction of 80 warehouses in every district of the country with 51 so far completed. Also, marketing is also being addressed through the National Food Buffer Stock Company (NAFCO) which among other things, guarantees an assured income to farmers by providing a minimum guaranteed price and ready market.

Though we admit there is still a lot to be done before the country is self-sufficient in food production, there is still a lot to celebrate.

Vodafone wins two at Business Awards

November 6, 2020

Accelerate gender equality — Photo: Chief Executive Officer at Vodafone Ghana, Patricia Obo-Nai. Credit: Vodafone Ghana

Vodafone Ghana has been adjudged Telecom Company of the Year and Brand of the Year 2019 at the third edition of the Ghana Business Awards (GBA) held at the Kempinski Hotel in Accra last week.

Vodafone Ghana won these prestigious awards for continuously setting landmarks in the areas of product innovation, customer experience, industry, community interventions and in deploying mobile technology for social and economic good. Vodafone as a brand has over the years championed technological innovation that are transforming lives and businesses across the country.

Commenting on the awards, Patricia Obo-Nai, Chief Executive Officer of Vodafone Ghana, said: “It is truly a great honour to be recognised for our contributions to the growth of the telecommunications sector and the country. I dedicate these awards to our loyal and cherished customers, stakeholders and to our employees for their hard work. We will keep providing exceptional services to customers and continue to use technology to make a difference in society.’’

Vodafone Ghana has created a significant presence in Ghana as the most innovative and digital telecommunications company. Its plethora of digital customer experience channels including the 24-hour virtual assistant chatbot, TOBi, enable customers to engage and interact with the brand in unique and exciting ways.

Vodafone’s ‘2 Moorch Data’ remains the industry’s best data offering in terms of volume of data and price points. Additionally, the Telco has completely waived transfer charges on money transfer from Vodafone Cash to all other networks. This groundbreaking move is also first of its kind since the inception of Mobile Financial Services in Ghana.

Vodafone Ghana continues to introduce new and exciting technologies that enhance the quality of life and transform the workplace even during this pandemic. The telco’s mission and purpose is to help its customers, businesses and communities adapt and prosper as these remarkable new trends reshape the world.

The Ghana Business Awards is an awards event that recognises and rewards excellence across all sectors in Ghana. The Awards seeks to provide a platform to recognize individuals and companies that play a significant role in the growth and development of the various business sectors.

Standard Chartered scoops Best Retail Bank at 2020 Asian Banker Awards

November 6, 2020

Photo: Yvonne Fosua Gyebi, Head, Retail Banking, Standard Chartered Bank Ghana Limited

Standard Chartered Bank Ghana Limited has won the award for the ‘Best Retail Bank in Ghana’ at the 2020 Asian Banker Middle East and Africa Regional Awards. The award was presented to Standard Chartered Bank during a virtual awards ceremony earlier this week. This adds to the growing list of international banking awards won by the Bank this year.

The Asian Banker’s Middle East & Africa Awards is the most rigorous, prestigious and transparent awards programme for consumer banking, transaction banking, risk management and technology implementation in the Middle East and Africa Region.

Commenting on the award, Yvonne Fosua Gyebi, Head, Retail Banking, Standard Chartered Bank Ghana Limited, said: “We are delighted to receive the recognition for our industry-leading capability in Retail Banking. We have redefined banking in Ghana through innovation, understanding of technology and our best in class SC Mobile digital banking platforms. The convenience and security for our clients remain central towards digital design in our service delivery.

Our clients continue to enjoy a seamless and high-quality banking experience when they use our SC Mobile, Online, Digital Hubs to invest and grow their wealth, make payments through bank transfers or mobile money as well as self- initiate any of the seventy banking service requests on mobile. Our modern digitized branches are available for Advisory services to our clients,” she added.

Standard Chartered has achieved key milestones in its digital transformation agenda, initially by launching the first fully digital bank on mobile – SC Mobile app – with enhanced features including full onboarding of new clients in 15 minutes then installing Digital Banking Centres (DBCs) to augment its branch network and give clients access to investment products through its digital banking experience.

Speaking at the virtual award ceremony, Emmanuel Daniel, Chairman, Asian Banker, said, “Economies are now pursuing a wider and more diverse range of policies towards regional integration and cooperation, and the financial system will accelerate its digital transformation and the adoption of online and remote transactions.”

“The Asian Banker will continue to track, evaluate and calibrate financial institutions that are on the journey to transform themselves into more competitive and sustainable digital players,” he added.

Standard Chartered Ghana, with this award, adds to its list of growing awards which includes the Best Bank for Transformation in Africa, Best Wealth Management Bank and the Best Bank for Financing at the 2020 Euromoney Awards for Excellence and underscores its brand promise, Here for Good.

Each year, a total of more than 50 institutions across the MEA region are taken a thorough evaluation process, out of which winners emerge for their contribution to the banking sector. The programme is designed to identify emerging best practices in financial services and technology implementations and innovations.

ADB to allocate 50% loan portfolio to Agric

November 6, 2020

The Agricultural Development Bank (ADB) has reiterated its commitment to agricultural financing by implementing a strategic plan that will increase the share of Agricultural loans in the bank’s total loan portfolio to a minimum of 50 percent by 2022.

The Managing Director of ADB, Dr. John Kofi Mensah, who announced this said the bank has also collaborated with the Ghana Incentive-based Risk Sharing for Agricultural Lending (GIRSAL) to de-risk agricultural financing by issuing credit guarantees. This he explained, will see the bank give agric concessional loans at 10 percent interest rate per annum.

Dr. Mensah further pointed out that the ADB has also entered into an agreement with the Outgrower Value Chain Fund (OVCF) to provide a GH¢20 million loan facility for the rice value chain programme, indicating that this facility is expected to transform rice production so as to make the country self-sufficient in the years ahead.

The ADB MD was speaking during the opening session of the 11^th National Farmers’ forum held at Techiman in the Bono East Region. The forum, which is part of this year’s Farmers day was organised by ADB, served as an interface for farmers to interact with agricultural industry players.

The 2020 National Farmers Day celebration is under the theme “Ensuring Agribusiness Development under COVID-19: Opportunities and Challenges. “The awards will be held on Friday to honor distinguish farmers across the country.

Numerating other special initiatives by the bank, the MD said ADB has special financing for the construction of roads in cocoa-growing areas and fishing communities, saying “any contractor who approaches ADB for a facility for such projects is given a special attention.” The bank is recruiting and training credit officers to effectively handle agricultural-related loan requests to reduce unnecessary delays, he added.

“In the midst of the ravaging COVID-19 pandemic, the bank introduced a number of programmes in 2020, including the Broiler Outgrower Programme for which an amount of GH¢500 million has been earmarked. This programme is expected to help reduce the large volume of chicken parts imported into the country,” he said.

The Minister of State in charge of Agriculture, Dr. Nurah Gyiele, announced that henceforth, there will be reforms in the criteria for selecting national best farmer, explaining that a winner must be someone who has previously won district and regional awards. He added that a national best farmer must be proven to be adopting improved practices and technologies.

The Minister also stated that in selecting a national best farmer, the person must practice agricultural diversification, produce quality produce, adopt climate-smart practices, creditworthy and impact on other farmers as well as support his/her community development. “Going forward the farm size alone will not be enough determining a winner.”

Topics treated at the forum include Financing Agribusiness under COVID-19: The role of ADB; Ensuring Agribusiness Development under COVID-19 Opportunities and threats within the Fisheries and Aquaculture Sector; Ghana Incentive-Based Risk Sharing System for Agricultural Lending (GIRSAL).

First National Bank crowned the best SME Bank in the world

November 6, 2020

Photo: Dominic Adu, CEO, First National Bank Ghana

First National Bank has been named as the SME Bank of the Year at the Global SME Finance Forum Virtual awards ceremony.

The Global SME Finance Awards 2020 which are endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI) were organised by IFC, a member of the World Bank Group and the SME Finance Forum.

FNB was recognised amongst over 100 global participants for its digital innovation, exceptional products and services, as well as the unique and solution-focused manner it approaches challenges facing SMEs as they incubate, start, run and grow their businesses. The awards were judged by a committee of industry experts, with a specific focus on reach, uniqueness and innovation, effectiveness and impact, as well as dynamism and scalability.

Jacques Celliers, FNB Group CEO says, “we are humbled to receive global recognition as this showcases that the work we are doing for our SME customers is truly adding value. SMEs are important drivers of economic activity, across all corners of society and are often referred to as the ‘backbone’ of economies.

As we continue facing unprecedented economic challenges, coupled with the impact of Covid-19, we are cognisant that the SME sector remains a glimmer of hope in helping our country to create jobs and promote inclusive economic development.”

Commenting on the award, Dominic Adu, CEO of First National Bank Ghana said that it is a true reflection of the hard work and the valuable investments into the development of a value proposition that meets the end-to-end needs of small to medium businesses.

He stated that the First National Bank start, run and grow offering is built on an enterprise business banking platform that offers a holistic and integrated financial solution for small to medium business. All of this is beginning to pay off, and this award is definitely one of the many feathers in our cap as a banking partner.

“A key part of what has distinguished us in recent years as a leader in the SME market points to the core part of our strategy to help develop SMEs by supporting them through all stages of their business journey.

First National Bank has invested a lot in developing a business banking platform that offers holistic and integrated financial solutions. To maintain our market-leading position, it is essential that we continue offering holistic and integrated financial solutions to our diverse business customers, while ensuring that our business model continually evolves in line with their changing needs,” added Mr. Adu.

“We take the business of business seriously. From the onset, we realised that we needed to embrace the concept of “customer value creation”. Therefore, by helping our SME customers grow their own businesses, we are also growing our revenues, as well as increasing employment and further spending in the economy,” he said.

The start, run and grow SME offer also provides businesses with educational material and information through The Business Toolkit. These tools leverage the bank’s digital platforms, are free to use and have become instrumental in providing the right level of support to businesses during the in these hard times of COVID-19.

This global award cements First National Bank’s place as a world-class bank and the commitment to provide world-class financial solutions.

First National Bank Ghana is a subsidiary of FirstRand Group of South Africa one of the biggest ﬁnancial institutions in Africa with a full banking presence in South Africa, Namibia, Botswana, Swaziland, Lesotho, Nigeria, Mozambique, Zambia and Tanzania.

Fire destroys office of ghanabusinessnews.com

November 6, 2020

FB_IMG_1604643520680 — Photo: Personnel of the Ghana National Fire Service at the scene of the fire incident

A fire outbreak, last night, has razed the building housing the offices of ghanabusinessnews.com, an online media platform, on the Accra High Street, in Accra.

It is estimated that properties destroyed by the fire, at the Cathedral Clinic and Laboratory which also hosts other offices including ghanabusinessnews.com, could run into thousands of Ghana cedis.

According to the Managing Editor of ghanabusinessnews.com and Executive Director of NewsBridge Africa, Emmanuel Dogbevi, who was called to the scene of the incident, his office had burnt completely before the fire was put out.

He said all his documents and other valuables including office equipment – laptops, printers, voice recorders, books among others – were destroyed and none could be recovered.

Although personnel of the Ghana National Fire Service who responded to the situation was yet to give the cause of the fire outbreak some eyewitnesses said an electrical problem could have led to the fire.

EU’s Electronic Waste Management Project organises training on environmental health and safety

November 3, 2020

The e-waste management project (E-MAGIN) funded by the European Union organised a Training of Trainers and Capacity building workshops for selected Micro Small and Medium-Sized Enterprises (MSMEs) from the e-waste sector in Ghana.

The purpose of the training programme was to equip Trainers and MSMEs in the e-waste sector with skills on the Environmental, Health and Safety and the stipulations of Act 917 on such issues.

Participants were mainly drawn from the Greater Accra, Eastern and Volta Regions of Ghana: Greater Accra and Ashaiman Scrap Dealers Association, Ho and Koforidua Scrap Dealers Association, Koforidua Mobile Phone repairers Association, National Air-conditioning Refrigeration Workshop Owners Association (NARWOA) and the Ghana Electronic Services Technicians Association (GESTA).

Ms Leticia Abra-Kom Nyaaba and Ms Vivian Ahiayibor, the facilitators of the workshop explained the types of e-waste, their impact on the environment and how to manage them. Other issues also discussed included the components of electronic products, their sound disposal after use, personal protective equipment and how to establish collection centres.

Professor Rosemond Boohene in her closing remarks encouraged the participants to be Ambassadors of E-MAGIN project which aimed at building their capacity on the proper environmental, health and safety (EHS) management at their workplaces.

E-MAGIN is a 48-month project which is funded with a grant from the European Union to improve the management of electronic waste in Ghana. The project is being implemented by the University of Cape Coast, Adelphi Research Germany, Ghana National Cleaner Production Centre and City Waste Recycling Limited.

Empowering farmers to improve productivity

November 3, 2020

At Kofiase, a community in the Mampong Municipality of the Ashanti Region of Ghana, members of a Village Savings and Loan Association (VSLA) are on their way to getting a bumper harvest due to an investment in improved oil palm seedlings.

For years, the over 4,000 residents of the community who are predominantly farmers, with about half of the population cultivating oil palm, have been contending with low yield because of poor quality seedlings.

Besides the lack of improved oil palm seedlings, the farmers had limited knowledge on good agronomic practices and financial literacy, and minimal relationship with licensed financial institutions to enable them to access formal financial services such as credit.

Solidaridad‘s timely intervention

To address these challenges, Solidaridad in October 2019 started supporting the farmers as part of efforts to boost the production of oil palm in Ghana. The initiative was under the second phase of the Sustainable West Africa Oil Palm Programme (SWAPP II), funded by the Embassy of the Kingdom of Netherlands in Ghana and the Swiss government through its State Secretariat for Economic Affairs (SECO).

Solidaridad introduced the farmers to improved varieties of oil palm seedlings and trained them in nursery management. The farmers also received training in best management practices covering pest and disease management, fertilizer application, circle weeding and pruning to help increase yields to optimum levels.

To financially empower the farmers, the organization also facilitated the formation of two Village Savings and Loan Association groups in December 2019 with 60 members to enhance their knowledge of financial literacy through good record keeping.

The power of collective effort

After a month of the intervention, the two groups raised GH¢9,450 (US$1,630) as savings. In January 2020, twenty-one farmers comprising 14 men and 7 women pooled their resources together to purchase 10,000 improved oil palm seeds and poly pots. This, they did by accessing loans totalling GH¢5,900 (US$1,017) in addition to their collective savings of GH¢4,100 (US$707). The group’s aim was to increase their oil palm yield and improve their livelihoods.

Fifty-eight-year-old Joseph Owusu Ansah, Chairman of the VSLA at Kofiase, says, previously, the oil palm farmers in the community raised individual nurseries, but they realised that the output was inadequate to optimize yield.

After Solidaridad’s training, some farmers decided to establish a group nursery and apply the knowledge gained to generate more.

Three months later, more farmers joined the group effort after seeing the progress in the nursery.

“Through Solidaridad’s guidance and support, we now have 10,000 seedlings as a group, which has never happened in this community. We are hoping for a smooth transplanting soon and an improved yield subsequently,” says Joseph.

He says the VSLA group has been of great benefit to oil palm farmers in the community. He is confident that he can now raise the needed capital to purchase farm input and pay labourers.

VSLAs impacting lives, one beneficiary at a time

Besides the farmers in Kofiase, Solidaridad has offered training and other technical support to 17,290 oil palm farmers in 288 oil palm growing communities in Ghana.

“Our VSLA intervention seeks to build the culture of savings of farmers, processors and workers in the oil palm sector, and also mobilize capital for investing in their farming and processing operations. This way, farmers and processors can improve upon their practices, increase their incomes and enhance their livelihoods,” says Nicholas Issaka, Oil Palm Programme Manager.

He says an additional 12,000 smallholders will be trained in best management practices and financially empowered through the Village Savings and Loan Association scheme. These would be linked to financial institutions to enable the farmers to access credit and other financial services.

The Village Savings and Loan Association initiative under SWAPP II is part of the access to finance intervention for farmers and artisanal processors. Solidaridad, through the initiative, provides training in the formation and management of the associations and financial literacy, as well as linking the groups to financial institutions. So far, 244 groups have been formed in SWAPP programme communities, with 100 more to come.

AMG donates GH¢100, 000, fertilisers, others toward Farmer’s Day

November 3, 2020

Continuing its well-grounded tradition, Agricultural Manufacturing Group Limited (AMG) has donated a sum of GH¢100,000, 1,200 bags of fertilisers as well as a generous number of nose masks and hand sanitisers toward the 36th edition of the annual Farmers Day celebration.

With this year’s celebration to be held under the theme ‘Ensuring Agribusiness Development under COVID-19 – Opportunities and Challenges’, Communications Manager for AMG, Berchie Isaac Opoku who made the presentation on behalf of AMG at the premises of the Ministry of Food and Agriculture (MoFA) in Accra, expressed his belief that the theme for this year’s celebration is most appropriate.

He explained that his outfit, among others, has been particularly impressed by the high level of agricultural output in the nation, despite the significant disruptions particularly to supply chains caused by the pandemic.

He added that this is even more significant when neighbouring countries, with comparable levels of development, are saddled with food insecurity during the period, and pledged the continued support of AGM for farmers to boost production in the crop and livestock segments.

He also called for further enhancements to the government’s flagship ‘Planting for Food and Jobs’ initiative, which he described as truly impactful.

“We know that COVID-19 has devastated a lot of industries, but we realise that our farmers have been resilient and they have made sure we have experience food security in the country. Our donation is our own small way of expressing gratitude to our farmers and assuring them we will do all that is within our power to support them,” he said.

Minister of State in charge of Agriculture, Dr. Nurah Gyeile who received the donation on behalf of MoFA, praised AMG for its unrelenting support. He stated that the consistent yearly increase, especially of the cash component by AMG, is a sign of good faith and expressed hope that it will continue in perpetuity.

“AMG has always been with us. They have been a major supporter every year. It seems that with each passing year the amount keeps rising; you started with GH¢20,000 to GH¢50,000 and today we are at GH¢100,000. I’m sure by the next time a tractor will be added. We thank you again on behalf of the farmers in Ghana,” he stated.

The 36th edition of Farmers Day Celebration is slated for November 6, 2020, at Techiman in the Bono East Region.

Academic City obtains University College status

November 3, 2020

Academic City College, a premium Science, Technology, Engineering, Arts and Mathematics (STEAM) tertiary institution has been granted a ‘University College’ status by the National Accreditation Board (NAB).

This new status reinforces Academic City’s position as a premium tertiary institution and its ambition to be a leading STEAM university in Africa. Additionally, it is also expected that the ‘University College’ status will underpin Academic City as a credible tertiary institution committed to offering high-quality learning experience to students.

This is the second major milestone achieved in a space of six months for Academic City, having recently received approval from the NAB to offer BSc. in Industrial and System Engineering, first of its kind in Ghana and BBA. in Entrepreneurship.

Academic City since its inception 2017, has proven its resolve to change the narrative for higher education in Africa and is committed to providing the best education attainable anywhere in the world. The institution has grown its presence, creativity and innovation capabilities and partnerships with relevant stakeholders.

Commenting on this development, Prof. Fred McBagonluri, President of Academic City remarked “We are excited about this milestone achievement. This is a positive step in the right direction and affirms our ambition to being recognized as an institutional commitment to nurturing future-ready professionals for the work of the future.”

According to him, the announcement offers the validity upon which Academic City can enhance its teaching and learning methodology that equips students to be creative and imaginative in solving complex challenges in an innovative way.

Academic City’s fully digitized state-of-the-art campus is situated at Haatso, a suburb of Accra – Ghana. It has a diverse academic community of students, faculty as well as staff from across the world. The ultra-modern campus offers small class sizes in an environment that emphasizes one-on-one attention.

Academic City prides itself on educating ‘Future Ready Problem Solvers’, and their delivery of online education echoes that. Utilizing a low student to faculty ratio, Academic City has been able to create an environment of online delivery that is both interactive and fun for students and faculty. The faculties strong agility in delivering world-class education manifested in their seamless transition to online education, in the wake of COVID-19 global crisis, is proving to be highly effective.

The university offers elite undergraduate degree programmes in Engineering, Information Technology, Business Administration and Communication Arts. The programmes are carefully and strategically designed taking into consideration world-class STEM education to develop students to become more practical, hands-on and productive.

Decent jobs to be created through green jobs strategy – Green Economist

November 3, 2020

The National Green Job Strategy, when executed, will create a lot of opportunities for Ghanaians, including the creation of decent jobs for the youth, Eric Twum – a climate change consultant and green economist, has said.

According to him, it is anticipated that the green job strategy will be a working document that supports the government to implement its strategy focused on job creation.

The strategy recognises a number of sectors including agriculture, forestry, energy and tourism. These sectors are earmarked to have some great opportunities for green job creation in the country. The strategy will also be a working tool that ensures the country’s vision is realised.

This was made known at a two-day validation workshop on the National Green Jobs Strategy in Accra. The strategy has been developed into the ‘Ghana Green Jobs Programme’, and is envisaged to culminate in realising the overall goal of creating more decent green jobs in the country for job seekers, particularly the teeming youth.

Mr. Twum indicated that the strategy’s implementation period will be within 2021 and 2025, adding that every year there will be a need for research and coordination by the Ministry of Employment and Labour Relations.

The National Green Jobs Policy document was produced with the active participation of various stakeholders including key Ministries, Departments and Agencies (MDAs), Metropolitan Municipal and District Assemblies (MMDAs), Civil Society Organisations (CSOs), Academia, Development Partners and a host of others. They broadly examined the state of green job initiatives and identified the challenges that need to be addressed in order to promote the creation of green jobs in all sectors of the economy.

Commissioning the Strategy

The National Green Jobs Strategy Policy Analysis document was commissioned by the Ministry of Employment and Labour Relations (MELR) in collaboration with the International Labour Organisation (ILO). Signing the Memorandum of Understanding (MoU), the Country Director of SNV Ghana – co-partner in the execution of green jobs – Anjo Van Toorn noted that his outfit is dedicated to working with government institutions to create decent jobs for youth.

Ghana@100 long-term development framework launched

November 3, 2020

The Nation Development Planning Commission (NDPC) has launched a long-term development framework for Ghana, dubbed the Ghana@100 Long-term Development Framework. The main aim of the Ghana@100 Long-term Development Framework is to have a democratic, inclusive self-reliant and developed country by the time Ghana is 100 in the year 2057.

At the Ghana@100 Long-term Development Framework launch, Chairman of the NDPC Professor Steven Adda said that the document is an abridged version and a build-up of the draft 40-year development plan his administration inherited from the former management led by Professor Kwesi Botchwey.

He said the document shows four key areas the country should concentrate on, which have been identified as strategic pillars for the Ghana@100 framework.

He mentioned that the first pillar hinges on government, peace and security, which focuses on building efficient and accountable institutions in a society imbued with high integrity and resolved to make concerted efforts to maintain peace and security.

The second pillar hinges on economic growth, which is aimed at having an industrialised, inclusive and resilient economy.

The third pillar hinges on social development, with plans to ensure an equitable creation of well-developed human capital. The last pillar is environmental protection, which is aimed at building well-planned and safe communities while protecting the natural environment.

He said that the document has set out 10 drivers needed to achieve the pillars: namely quality political leadership, values and attitudinal change, peace and security, environmental primacy, and efficient public service and institutional strengthening.

The rest include maintaining macro-economic stability; human capital development and efficient productivity; science, technology and innovation; land reforms, infrastructure development; and clean and affordable energy.

He said the framework also outlines the potential sources of funding for its implementation, which includes the raising of tax revenues – which is currently around 13 percent of GDP – to at least 20 percent; and blocking leakages and illicit financial flows which cost the country an estimated US$3billion annually.

He said a Ghana Beyond Aid is possible, but it will require stronger leadership and commitment to a long-term vision: and it is their hope that the Ghana@100 framework provides the goals/vision for its realisation.

In a remark, the Director-General of NDPC, Dr. Kodjo Mensah-Abrampa, said the Ghana@100 framework spells out clearly the country’s priorities which should guide any government to help Ghana reach its full potential level of development.

“We have worked on this, and we got all the necessary information needed for a long-term development plan. And this was done through broader consultation with private sector organisations, civil society organisations and other groups across the country,” he said.

He added that the document speaks to every Ghanaians because its language is very simple, and its goals and the drivers necessary to attain them are very clearly stated.

Huawei unveils the most powerful Mate line-up ever

November 3, 2020

Huawei Consumer Business Group (BG) has bolstered its product line-up with the advanced HUAWEI Mate 40 Series, the latest revolutionary flagship smartphones that empower users to leap further ahead. Showcasing the pinnacle of Huawei technology, the new Series reinforces Huawei’s dedication to innovation and its unrelenting determination to creating the best Mate ever.

The HUAWEI Mate 40 Series has the Mate Series DNA at its core. Over the last eight years, there have been 10 outstanding generations of Mate Series devices – and now the latest flagship smartphones take Mate to new heights with the best technology in the industry.

From powerful performance to unique user interactions, everything about the HUAWEI Mate 40 Series has been fine-tuned to provide the most exciting smartphone experience possible. HUAWEI Mate 40 Pro and HUAWEI Mate 40 Pro+ incorporate the world’s first 5 nanometres 5G SoC, Ultra Vision Cine Camera system and the iconic Space Ring Design, as well as a smarter, more attentive digital experience.

Richard Yu, Executive Director and CEO of Huawei Consumer BG said: “Each year the HUAWEI Mate Series brings the most exciting technology together into one stunning package. This is what defines the Mate Series DNA, and is all made possible by our dedication to innovation.

“In these unprecedented times, we remain committed to creating a better future with innovative technology that delivers a positive and meaningful impact on the lives of consumers. In the future, we will continue working closely with our partners to bring the Seamless AI Life experience to consumers all around the world.”

The HUAWEI Mate 40 Series adopts the Space Ring Design, an evolution of the HUAWEI Mate Series’ iconic circular and symmetrical design. HUAWEI Mate 40 and HUAWEI Mate 40 Pro are available in Black and White, as well as an enchanting Mystic Silver – a finish with a colour-shifting effect that evokes the mysteries of the unseen. There are also two vegan leather variants, Yellow and Green. Meanwhile, HUAWEI Mate 40 Pro+ features an exquisite nano-tech ceramic back panel available in two iconic colours: Ceramic White and Ceramic Black.

The HUAWEI Mate 40 Series is also equipped with the battery technology needed to keep up with the demands of 5G, supporting the fastest iteration of HUAWEI SuperCharge. Pricing and availability of the HUAWEI Mate 40 series in Ghana will be announced at a later date.

MTN to double local shareholding on GSE to 25% … earmarks GH¢150m for nation’s post-COVID-19 recovery efforts

November 3, 2020

MTN is set to issue an additional 12.5% of its investment as shares on the Ghana Stock Exchange (GSE), a move which is set to double its shareholding from the current 12.5% to 25%.

Recall that in September 2018, Scancom Plc., operators of MTN in Ghana, completed its Initial Public Offer (IPO) which saw 12.5% of its shares listed on the GSE as approximately 130,000 subscribers became shareholders of the company.

Contained in a statement accompanying its third-quarter result, which is signed by Selorm Adadevoh, CEO and Ishmael Yamson, Chairman, stressed that the focus is on increasing local shareholding.

“MTN Group has agreed with the Government of Ghana to sell down a further 12.5% of its investment in Scancom Plc. This process of further increasing localisation and deepening shared value is underway and we look forward to providing updates in future performance updates,” a portion of the statement read.

The move is set to consolidate MTN’s position at the pinnacle of the telecommunication sector as it remains the only company from the sector to be listed on the Exchange.

The statement further revealed that in 2021, in line with its commitment to the recovery of the economy post-pandemic and in celebration of its 25th anniversary, MTN Ghana has earmarked the equivalent of US$25 million, or GH¢150 million, to a fund supporting Ghana’s post-COVID-19 recovery measures.

“MTN Ghana will seek to further its strategic partnership with the Government of Ghana through investments in digital ecosystem projects as part of the government’s long-term transformation agenda,” a part of the statement indicated.

Figures

With the increased dependency on, and usage of, digital solutions, MTN has rolled out 115 2G, 115 3G and 547 LTE sites, consequently, Capital Expenditure (Capex) spend for the first three quarters of the year increased by 1.6% from GH¢862.5 million for the comparable period in 2019 to GH¢876 million this year for network capacity and infrastructure expansion projects.

The results showed an appreciation in every notable metric; with a Quarter over Quarter (Q/Q) increase in active subscribers – which are defined by MTN as ‘SIMs which generate or participate in an event that generates revenue for the company’ – by 8.7% to 23.4 million.

Despite the contribution of voice to service revenue seeing a decline from 45.0% to 42.5% year-on-year (YoY), primarily as a result of a shift to more data-centric services, voice revenue grew by 12.1%.

Service revenue increased by 18.8% from GH¢3.72 billion in 2019 to GH¢4.42 billion in 2020, supported by growth in voice, data, Mobile Money (MoMo) and digital revenue, as active data subscribers grew by 8.3% to 9.8 million resulting in an increase in YoY contribution to service revenue from 28.5% to 29.0% with active MoMo users appreciating by 4.3% to 10.2 million.

“Digital revenue continued its recovery (up 52.9%), driven by growth in the number of active subscribers (+13.7%) as well as improvements to our video and gaming offerings and increased adoption of our MyMTN and Ayoba messaging apps. Digital revenue contribution to service revenue increased from 3.4% to 4.4% YoY,” read a portion of the statement.

Total revenue saw growth to GH¢4.47 billion in the first three quarters, from GH¢3.75 billion over the same period in 2019, representing a 19.3% rise.

Additionally, reported Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) grew by 26.7% from GH¢1.88 billion to GH¢2.38 billion, with a corresponding margin expansion of 3.3 percentage points (pp) to 53.3%. Profit before tax and profit after tax increased by 51 and 53% respectively.

Outlook

With the economy regaining a semblance of normalcy, MTN has pledged to continue its expansion drive with more capital and related operating expenses to accommodate the growth and build resilience in all areas including cybersecurity.

“In the fourth quarter of the year, we continue our journey from a traditional mobile telecommunications operator to an emerging digital operator, with 2020 being the ‘Year of the customer: the digital experience,” the statement concluded.

NBSSI’s Nkosuo loan oversubscribed

October 29, 2020

Executive Director of NBSSI, Kosi Yankey-Ayeh

… 400,000 businesses seek over GH¢2bn support

Data from the National Board for Small Scale Industries (NBSSI) have revealed that 400,000 businesses seeking a total sum of over GH¢2billion applied to benefit from the NBSSI and Mastercard Foundation Nkosuo loan scheme, whereas only GH¢90million is available to 25,000 Micro, Small and Medium Enterprises (MSMEs).

According to the Executive Director of the NBSSI, Kosi Yankey-Ayeh, the investment committee of the NBSSI has held a series of meetings on how best to begin disbursement of the funds – taking into consideration the oversubscription and challenges faced during the disbursement of the first Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS), the Adom Micro-Soft Loans for micro-enterprises.

She added that from experience, the deadline for application was not extended. “For the Nkosuo we did not extend the deadline; I think we learnt lessons from CAPBuss not to extend the deadline. So, we stuck with the deadline we had (October 15).

“We had over 400,000 people applying for it and requesting in excess of GH¢2billion. We had conversations with the investment committee to start the process of disbursement to support businesses. One of the things we made clear is that if someone has benefitted from our past government funding, they can’t benefit from this. We want to allow new people to benefit so we spread the opportunities,” she said.

When the B&FT asked for disbursement timelines, Mrs. Yankey-Ayeh said: “As soon as possible” adding that “I think we have learnt our lessons from CAPBuSS, so we won’t be giving strict deadlines. We have never before had the chance to use a technology platform to serve the masses; we have never seen these numbers before, and so the beauty of this is that we are learning from our past experiences”.

The Nkosuo programme will focus on supporting MSMEs and start-ups needing assistance to survive impacts of the COVID-19 pandemic; and businesses in growth sectors where the employment of young people, especially young women, are being significantly impacted by business operation disruptions, supply chain challenges, liquidity shortages, declining sales and profits, and business closures.

Also, businesses providing services that have the potential to meet growing demands of communities during and after the pandemic; and businesses which focus on digitisation to support MSMEs are eligible to apply.

The Nkosuo programme complements existing programmes and is completely different from the disbursement process of current government programmes, including the government of Ghana Coronavirus Alleviation and Revitalisation of Enterprises (Ghana-CARES) Programme that focuses largely on developing sustainable MSMEs as a critical part of Ghana’s post-COVID-19 recovery strategy. The programme comes after a successful roll-out of the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS).

Ethiopian Airlines wins Best African Airline Award 2020

October 29, 2020

Ethiopian Airlines has won The 2020 Business Traveler Award in the category of Best African Airline. The winners of the 2020 Business Traveler Awards have been unveiled by the publishers of Business Traveler magazine, Panacea Media.

The Business Traveller Awards are voted for by readers of the magazine, with the results produced by an independent research company, and are widely recognised as the market’s benchmark for excellence. A fixture of the business travel and hospitality calendar for more than 30 years, this year’s awards were based on the survey which took place from April to July 2020 concerning readers’ experiences of the previous 12 months, and before the widespread restrictions on business travel that were imposed by most countries in mid-March.

Julian Gregory, Managing Director of Panacea Media, publisher of Business Traveller said: “The Business Traveller Awards give our readers the opportunity to reward those companies who have provided them with first-class product and service excellence over the previous 12 months. On behalf of our readers, we, therefore, congratulate all the winners and finalists for all they have done to keep our readers and their most frequent customers happy.”

Tom Otley, Editorial Director of Business Traveller said; “At a time when most frequent travellers are working from home, it’s a wonderful break to have something to celebrate, particularly when so many of these winners and finalists are currently going through such a tough time. On behalf of our readers, I’d like to thank all of those involved in the awards and thank our readers for their voting. Let’s hope the next 12 months bring good news for all of us.”

This is a great recognition that motivates every employee for more achievements.

TURKEY AT 97: Celebrating the foundation of the Republic of Turkey

October 29, 2020

On 29 October 2020, we celebrate the 97th anniversary of the foundation of the Republic of Turkey.

Throughout this 97 year-long journey, Turkey, situated at the crossroads of Eurasia, a region facing multiple challenges, has become a source of peace, stability and prosperity in her neighborhood and beyond. A transit country and a hub for energy lines, Turkey has transformed herself into the 13th largest economy in the world in terms of purchasing power parity.

Thanks to her dynamic production capacity, Turkey is strongly positioned in the global production and logistics networks. Turkey’s performance of adaptation since the outbreak of COVID-19 pandemic proves the economy’s resilience to the current challenges.

In fact, according to the latest OECD Report, Turkey will be among the least affected three countries from the global economic downturn caused by the COVID-19 pandemic. The lead indicators show that the worst is now behind us, and the economic recovery has begun accelerating. We expect to conclude 2020 with growth. We are focused on converting the COVID-19 crisis into an opportunity.

At the same time, Turkey’s export reached a record high of 180.7 billion USD in 2019, while the cumulative amount of foreign direct investment (FDI) in 2003-2019 was 210 billion USD. The automotive, petrochemical and electronics industries have risen in importance and surpassed the traditional textiles and clothing sectors within Turkey’s export mix as a result of her arduous and tireless efforts to enlarge the national production base in all sectors.

Being NATO’s southern flank and due to the conflicts in her vicinity, coupled with the terrorist threat, national defense has always been a priority for Turkey. The need for producing high-quality weapons systems for her own military has gradually turned Turkey into an exporter of advanced weapons systems to other countries.

Furthermore, with 10.319 projects undertaken world-wide, Turkey ranks second in the number of constructing companies building the largest volume of projects across the world.

Blessed by the natural beauties and cultural richness of our homeland, we became the sixth most visited country in 2019 by hosting 45 million tourists. Turkey is home to 18 UNESCO Cultural and Natural Heritage sites.

Recent discovery of natural gas in the Black Sea coast will usher the country into a new era, one with less dependency on external sources.

UNESCO Cultural Heritage Site- Old town of İstanbul

Owing to her growing means and capabilities, Turkey pursues a foreign policy guided by her founding principle “Peace at Home, Peace in the World” with an “Enterprising and Humanitarian” approach to achieve security, stability and prosperity in her neighborhood and beyond.

UNESCO Cultural heritage Site -Safranbolu

In pursuit of an enterprising and humanitarian diplomacy, as in the words of our President H.E. Mr. Recep Tayyip Erdoğan, “reflects the enterprising spirit and humanitarian values of our nation”, Turkey puts considerable effort to reducing global vulnerabilities and undertakes leading roles in humanitarian assistance and development aid. She hosts the highest number of refugees in the world and ranks at the top of humanitarian assistance donor list. Furthermore, Turkey is the most generous country as per assistance to national income ratio.

UNESCO Cultural Heritage Site -Mount Nemrut

Turkey firmly believes that resolution of global challenges depends on collective efforts forged by cooperation and effective multilateralism. This reality guides Turkey’s active diplomacy within multilateral fora. Indeed, H.E. Volkan Bozkır’s assumption of the Presidency of the 75th Session of the United Nations General Assembly, and Ambassador Altay Cengizer’s designation as the President of the 40th General Conference of UNESCO are a testament to Turkey’s active role within multilateral organizations. Turkey strongly advocates reforming the UN and the UN Security Council to be more efficient, more representative and more accountable.

The coronavirus outbreak is unprecedented. In many ways, it is an era-defining challenge. What started as a public health issue in one part of the world has quickly turned into a global crisis with severe economic, political and security implications. Turkey has demonstrated stellar performance in addressing this pandemic thanks to the preparedness and effective mobilisation of the healthcare system and a comprehensive mobilization approach to leaving no one behind.

Ambassador Ulueren distributed food supplies during Ramadan on behalf of TİKA

In line with this vision, since the onset of the outbreak, Turkey has extended a helping hand to numerous nations and international/regional organizations. So far, Turkey has provided medical supplies to more than 150 countries and has earned the title of the third biggest supplier of medical aid worldwide. Turkey is doing this with the belief that “a friend in need is a friend indeed”.

Commissioning of the first gas for Karpowership by President Akufo-Addo

Africa: One of the Main Orientations of Turkish Foreign Policy

Relations with Africa on both bilateral and multilateral basis constitute one of the main orientations of Turkish foreign policy.

Turkey is present in the continent with 42 Embassies and 22 coordination offices of Turkish Cooperation and Coordination Agency. Turkish Airlines, our flag-carrier flying to 58 destinations in 39 countries in the continent, connects Africa to the rest of the world.

Our policy towards Africa is based on common interest and common good, creating value through business and pursuing a “win-win” approach.

Visit of Hon. Minister Mrs. Shirley Ayorkor Botchwey to Turkey

In order to achieve our focus on harnessing the human capital, which is a cross-cutting goal of the Sustainable Development Agenda 2030, we have mobilized Turkish higher education scholarships (provided to more than 10,000 African students), vocational and technical training opportunities as well as development and humanitarian assistance schemes.

Turkey’s trade volume with the African continent reached 26.2 billion USD in 2019 from 5.4 billion USD in 2003. The total value of projects undertaken by Turkish companies across Africa has reached approximately 70 billion USD, while market value of Turkish investments across the continent has exceeded 6 billion USD. Moreover, Turkish companies have contributed to generating local employment and production in the countries that they operate. More than 100,000 Africans have gained employment opportunities thanks to Turkish investments.

As a strategic partner to the African Union since 2008, we have organized two Africa Partnership Summits in 2008 and 2014 in Istanbul and Malabo, respectively. Now, we are focusing on hosting the Third Turkey-Africa Partnership Summit to be held under the auspices of President of the Republic of Turkey H.E. Mr. Recep Tayyip Erdoğan.

Turkey-Africa Economy and Business Forum, organized virtually by the Turkish Ministry of Trade, African Union and Foreign Economic Relations Board of Turkey with the attendance of President Erdoğan on 8-9 October 2020, enabled the participants to discuss post-pandemic economic relations between Turkey and Africa. The Third Turkey-Africa Economy and Business Forum is planned to take place in spring 2021 in Istanbul.

Turkey considers Ghana an important partner in the sub-region

In this sub-region, we highly value the friendship of Ghana and consider it an important partner. We always commend the special role of Ghana in the history of the continent. We congratulate the assumption of Chair of ECOWAS Authority of Heads of State and Government by H.E. Mr. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana at this challenging period. We strongly believe that his vision will support the peaceful resolution of disputes in the member countries and effectively promote the integration agenda of the organization.

In this perspective, Ghana has been actively supporting economic integration efforts of the continent. We reiterate our congratulations for hosting and recent commissioning of the Secretariat of the African Continental Free Trade Area in Accra.

This year marks the tenth anniversary of the re-opening of the Embassy of the Republic of Turkey in Accra.

During the last decade, bilateral relations between Turkey and Ghana have been strengthened and the spectrum of our cooperation has been expanded. President of Turkey H.E. Mr. Recep Tayyip Erdoğan’s visit to Ghana in 2016 played a pivotal role in this regard.

In January 2020, we hosted Hon. Mrs. Shirley Ayorkor Botchwey, Minister for Foreign Affairs and Regional Integration of the Republic of Ghana in Turkey. This was the first-ever official visit from Ghana to Turkey at this level. It enabled both sides to discuss the entirety of the prospects for bilateral cooperation. During this visit, the Memorandum of Understanding on Cooperation in the Field of Information Technologies and Diplomatic Archives was signed.

Accompanied by a high-level economic delegation, the economic segment of the visit hosted by the Foreign Economic Relations Board of Turkey (DEIK) enabled to discuss mutual economic/trade/ investment opportunities at length.

More recently, the first round of Turkey-Ghana political consultations were held virtually last month, presenting yet another opportunity to expand upon our growing bilateral relations. We are committed to keeping all established mechanisms and dialogue channels open in order to widen the scope of our cooperation.

We are determined to continue to be a development partner for Ghana.

Turkish businesses have proved their competences in contributing to Ghana’s development efforts in several sectors such as energy, construction, healthcare, logistics and water treatment. Similarly, agriculture, processed food, transport, affordable housing, tourism, and aviation stand as promising areas of cooperation.

Last year, Ghana ranked as the third biggest trade partner of Turkey in the sub-Saharan Africa. Bilateral trade volume during the first nine months of this year has already surpassed that of the highest year ever. We are determined to elevate our bilateral trade volume to 1 billion USD as set by President Erdoğan.

We also encourage and support Turkish businesses to invest in Ghana consistent with the development priorities of the country, and at the same time, assist Ghana’s efforts to increase its competitiveness within the African Free Trade Area.

Memorandum of Understanding signed between the Foreign Economic Relations Board of Turkey (DEİK) and the Association of Ghanaian Industries (AGI) aims to increase partnerships. The virtual meeting between DEİK and AGI on 22 July 2020 enabled the parties to discuss opportunities in food, textiles and construction sectors.

Visit of Minister Mr. Abubakkar Siddique Boniface to the Turkish Maarif School in Accra.

Empowering human capital is an important agenda of our cooperation with Ghana. So far, 454 students from Ghana have benefited from higher education scholarships provided by Turkey. We are also keen to enhance our cooperation on technical and vocational training, not to mention one that empowers women.

Turkish Maarif Foundation Nursery and Kindergarten started to operate in September 2019. The foundation, which was established in June 2016, is the sole entity authorized to provide educational services abroad apart from the Ministry of National Education. Today, it has turned into a dynamic educational institution with its 344 schools across the world. The Foundation currently operates 130 schools across the African continent, 64 of which are in 8 ECOWAS countries, and is determined to expand its operations in Ghana.

Last but foremost, we are ready to build on the existing cooperation mechanisms and keep collaborating to find new ways to enhance our bilateral relations with the friendly country of Ghana.

As we celebrate this distinguished day, we renew our resolution to ensuring the achievement of sustainable development and peace agenda at the global scale. Our Enterprising and Humanitarian Foreign Policy will continue to contribute to the common goals of humanity.

The author is the Ambassador of the Republic of Turkey.

MASLOC loan recovery slowed by COVID-19 – CEO

October 29, 2020

Mr. Amoah (middle) cutting the tape to open the MASLOC Zonal office, at Krofrom

The Microfinance and Small Loans Centre (MASLOC) says it loan recovery efforts have been significantly impaired by the COVID-19 pandemic, to around 40 percent despite doing about 90 percent before.

Chief Executive of MASLOC, Stephen Amoah, said businesses have been reeling as a resulting of the COVID-19 global outbreak – which has generally affected business operations worldwide.

Global economic prospects were predicted to fall with the onset of the disease, and sub-Saharan Africa was expected to experience a substantial growth downgrade of 2.8 percent. “Emerging markets and developing economies will be buffeted by economic headwinds from multiple quarters,” according to a world bank report for June 2020.

Amid this development, Mr. Amoah said MASLOC has not been able to reach its targetted loan recovery rate over the past few months. He said: “The current recovery rate of loans is not as high as was expected”.

Speaking in an interview at the backdrop of the zonal office opening of MASLOC at Kofrom in the Kumasi Metropolitan Assembly (KMA) of the Ashanti Region, Mr. Amoah said stringent measures are however being pursued to turn things around and improve recovery. These measures, he noted, include decentralisation of MASLOC’s operations as well as the intended rollout of automated services across the country.

The decentralisation, he said, will among others ensure effectiveness and efficiency. He said: “Once you reduce the complexities and the cumbersome nature through which one can access funds, this will be realised”.

He observed it was in line with this that the Krofrom Zonal Office has been established, adding that another office will be added to the region’s present two by close of the year. Additionally, the expected introduction of its automated platform is meant to further ease and enhance accessibility to the fund by small businesses operators and other potential loan applicants.

The start of automated services will as well be supplemented with a point of sale system across the country, which will enable loan beneficiaries to easily access their funds while also making it possible to facilitate loan repayments. Beneficiaries will be issued with cards to enable transactions in addition to allowing them to access money electronically by using their phones.

Mr. Amoah assured that: “The automated platform will ease and reduce complexities in getting monies and reducing turnaround time”. He said the platform will soon take-off, but a few technical measures are being worked on to enable its smooth operation when it starts.

Addressing a gathering of traders and other business operators earlier at the ceremony, he urged applicants to revise any thoughts that MASLOC is a scheme for the ruling government and therefore they will not have to pay back.

He said while MASLOC is expanding offices to enable applicants easily gain access and reduce congestion, it is very important for them to meet the conditions and as well pay back their loans on time so as to enable others to also benefit. “We want to build a sustainable society and community for generations to come,” he said.

The Regional Manager of MASLOC in charge of Bono and Ahafo also appealed that loan beneficiaries should endeavour to pay back loans so that they have the opportunity to further access the facility to expand their businesses. He cautioned that if the funds become locked up, the operations of MASLOC will cease since there will not be funds to disburse for others to operate.

Women in rural banking equipped with leadership & managerial skills

October 29, 2020

Mrs Comfort Owusu, Executive Director of ARB Ghana, (2nd right) flanked by other ladies in a group picture after a session — Photo: Mrs. Comfort Owusu, Executive Director of ARB Ghana, (2nd right) flanked by other ladies in a group picture after a session

Female staff of rural and community banks across the country have been equipped with managerial and leadership capacity development skills.

The primary objective of the training programme is to support women in the industry to take up managerial and leadership roles and also for leaders of institutions to involve women in decision making.

This according to experts could enable women to take up leadership roles irrespective of their domestic responsibilities as wives and mothers.

The Executive Director of Association of Rural Banks, Ghana Mrs Comfort Owusu in one of her opening remarks during one of the sessions reiterated the need for female staff to mindful of development particularly in their career as bankers.

According to her, the era of male dominance at the top level of the corporate ladder is over and it is about time women got involved in managerial decisions only if they have the leadership and managerial capabilities to do so.

She advised female staff to take such training very seriously and also find other avenues in academia and practical development areas to sharpen their skills in their chosen profession.

It is a known fact that in the Ghanaian workforce, including the financial sector, the proportion of females in the leadership position is smaller as compared to that of their male counterparts.

Various studies have come out with some constraints that prevent women from rising to the top management positions in the workforce. Notable among the constraints include cultural barriers and gender stereotyping.

People have the perception that women are unable to hold the managerial position because the majority of them lack the required skills and experience.

Others also go through career breaks due to childbirth, lack of mentor or role models, with others unwilling to take up leadership responsibilities due to family obligations, lack of confidence among others and the female staff in the rural and community bank (RCBs) is no exception.

The Association of Rural Banks (ARB) – Ghana and ARB Apex Bank Limited identified this gender imbalance in the managerial positions of most rural and community banks as a major challenge which they have been trying to address.

To help address the challenge, the Association of Rural Banks (ARB) – Ghana requested GIZ, Programme for Sustainable Economic Development (PSED) to provide capacity development training for lower and middle placed female staff of all rural banks in Ghana.

The training was conducted in ten sessions on a zonal basis and was put together by the Association of Rural Banks, Ghana, facilitated by CDC Consult Limited and sponsored by GIZ.

Adopt an enhanced revenue mobilisation system to increase IGFs

October 29, 2020

The local governments must stand up to the challenge. They need to raise sufficient internal revenues to deliver on their mandates and give meaning to the object of bringing governance closer to the governed. Over the years, local governments have been overly dependent on the District Assemblies Common and other donor funds. The reasons range from outdated property valuation, a disengaged populace to lack of appropriate revenue management system to bill, distribute, collect, monitor and enforce collection. As a result, whenever central government transfers delay, most local governments find it near impossible to run the local government machinery, let alone provide essential services.

With the outbreak of COVID-19 and its disruption to economic activities, the financial position of most local governments threatens to get worse. In the words of Hon Osei Assibey Antwi, the Kumasi Metropolitan Assembly records a 30 per cent shortfall in IGF. Moreover, the 2020 midyear Budget Review suggests the government is facing falling revenues, rising expenditures and increasing debt. While it is reasonable to expect these headwinds to ease with the COVID-19 pandemic, the indications are that central governments’ transfers will not only delay, as has been the norm. There will be significant shortfalls in the disbursement of District Assemblies Common Funds for years to come.

The situation is so dire that at the Local Government Service’s award ceremony, the Minister of Local Government and Rural Development chose to warn that “the days of overreliance on the disbursement of the District Assemblies Common Fund are gone”. She went further to challenge the local governments to institute innovative ways to generate internal revenues, according to the 10th October edition of the Daily Graphic. Truth to be told, the Hon. Minster’s warning is timely and imperative.

While the Minister did not elaborate on the ways local governments could adopt to increase IGF, there is a reason to be optimistic. Among the myriad factors, improvement in the revenue management systems stands out as a quick and essential step to increase IGF. My colleagues from the International Growth Centre and I evaluated one such system in the La Nkwantana Madina Municipal Assembly (LaNMMA), using the gold standard in evaluation, the so-called randomised controlled trial.

LaNMMA adopted the Enhanced Revenue Mobilisation System (ERMS) since early 2019. The ERMS is a Ghanaian owned web-based revenue mobilisation, monitory and management system. It has inbuilt navigation tools to aid and track the distribution and collection of bills. The ERMS’ dashboard allows the Assembly to monitor the daily activities of revenue collectors and supervisors in real-time. Most importantly, the ERMS does not require significant upfront expenditure.

For this evaluation, we worked with 24 revenue collectors between 18th September and 25th October 2019. We randomly assigned half of the revenue collectors to the newly deployed ERMS, while the other half works with the old manual approach to revenue mobilisation. The main findings are summarised in Table 1 below.

Table 1: Average IGF collection and bill delivery per collector
Group	IGF collection	IGF net of collection costs	Bills delivered	IGF collected per bill delivered	IGF collected per household who paid
	1	2	3	4	5
Control	GHS 1,255	GHS 725	71	GHS 17.7	GHS 188.8
ERMS	GHS 2,180	GHS 1,104	94	GHS 23.2	GHS 238.2
% increase	74%	52%	32%	31%	20.70%
Note: Each value corresponds to an average per collector in the corresponding group.

The main takeaways are that the ERMS improved the effectiveness and the efficiency of IGF mobilisation by 74 per cent and 52 per cent respectively. The ERMS improves IGF mobilisation through two channels. First, the navigation tools of the ERMS enables the revenue collectors to locate the assigned properties and businesses more efficiently. As a result, ERMS revenue collectors were more effective and distributed 31 per cent more bills.

Second, the ERMS reduces the potential avenues for revenue leakages. The ERMS permits continuous monitoring of collectors’ activities in the field. It appears the constant monitoring reduces the incentive and the extent of leakage. This, in part, explains the higher recorded payment per bill delivered. Indeed, when we conducted an audit at the end of the experiment, we found that discrepancies between the ratepayers’ self-declared payment and the recorded payments are 80 per cent less among the ERMS revenue collectors as compared to those revenue collectors who use the old approach.

The evidence is clear. It is the case that several factors constrain the capacity of local governments to increase IGF. While the local governments cannot address all the constraints immediately, they must adopt an enhanced revenue management system to increase their capacities to deliver on their mandates. It is time they took up the challenge, Minister.

The writer is a Country Economist at the International Growth Centre

email: [email protected]

Disclaimer: The views expressed in this post are those of the author based on his experience and prior research and do not necessarily reflect the views of the IGC.https://www.theigc.org/person/james-dzansi/

UBA Ghana launches 2020 National Essay Competition

October 29, 2020

The United Bank for Africa (Ghana) has launched the seventh edition of the UBA National Essay Competition aimed at funding Senior High School (SHS) students in any University of choice in Africa.

The UBA Foundation National Essay Competition (NEC) which was launched in 2014 in Ghana has provided a competitive platform to develop the intellectual and writing abilities of SHS students in Ghana, and other African countries where UBA operates and granting winners scholarships to study in any University in Africa.

The competition in Ghana has so far produced over 18 winners currently studying in various universities in the country.

The seventh edition promises to be more intriguing as it is expected to witness an increase in the number of participants to over 5,000.

The participating students will battle it out in the essay writing competition on the captivating topic: “You have been given the opportunity to speak at the U.N general assembly meeting in New York on the challenges facing the education of the African Youth in the midst of the novel coronavirus pandemic. Write your speech” which was unveiled at the launch.

Speaking at the launch, UBA Ghana MD/CEO, Olalekan Balogun said UBA is very committed to the area of education of the African student in a bid to transform the continent and achieve Africapitalism as espoused by the UBA Foundation Chairman Mr. Tony Elumelu.

He added that Tony Elumelu’s Africapitalism concept believes in using African resources to develop Africa and chief among them is the human resources.

Mr Balogun noted the essay competition forms part of UBA’s Corporate Social Responsibility (CSR) initiatives to support the educational sector in Ghana.

He continued that the UBA believes in the future of Africa’s youth and had therefore instituted a number of interventions in education to secure the future of the continent saying “we believe that giving back to the society through education can impact everybody and help the continent grow.”

This year the organisers of the competition are expecting to receive entries from applicants from secondary schools across the entire country.

He reiterated that the advent of the novel coronavirus has also brought in more innovation and therefore there has been a modification in the submission process to ensure ease of access and increased participation of senior high school students.

Online submission portal

Applicants can now submit entries through an online submission portal www.ubaghana.com/nationalessaycompetition2020.

He, therefore, urged students, teachers, parents and guardians from all parts of the country to continue supporting the NEC project by participating or encouraging students to submit their entries.

Prizes

In spite of the challenges of the COVID-19 pandemic, UBA has kept the winning prizes as US$5,000, US$3,000 and US$2,000 to assist the first, second and third place student to attend any university of a choice in Africa.

Performing the launch, the representative of the Minister of Education, Mr. Godwin Godson Elli, mentioned that this year’s essay topic is one that he finds most appropriate as the world continues to battle the consequences of the Covid-19 pandemic.

He said over the past six months, COVID-19 has disrupted lives in many ways significantly, and education has borne its share of the brunt.

“Suddenly, many parents are saddled with their children all day long and have come to appreciate the enormity of the teacher’s work. We all owe a great debt to our gallant teachers for the various roles they have played and continue to play in our lives,” he stressed.

Mr. Elli was confident that the essayist would appreciate the issues that the competition seeks to address and avert all their minds not only to the challenges but what they can do to surmount them as they try to restore their lives to normal.

He was delighted to note that UBA is involved in the development of literacy skills, first through its Read Africa project, and also through its National Essay Competition for senior high schools.

He has therefore commended UBA for showing interest in the intellectual growth and development of children, and the Ministry of Education highly praises UBA for this laudable academic development initiative.

Mr Ellis is of the hope and belief that other corporate bodies would be inspired to get involved in partnering government to deliver learning outcomes that spur the country to greater heights of industrialization.

He assured UBA that government remains open to developing strategic partnerships with the non-governmental sector in the realization of these goals.

Commendation

On her part, the representative of the Director-General of Ghana Education Service (GES), Mrs. Ajuba Adu-Tutu commended the management of UBA for proactively promoting the reading culture and encouraging healthy and intellectual competition amongst secondary school students in Ghana.

She called on all heads of schools and the teacher unions to encourage and ensure their students participate in this competition as it opens doors for them to achieve their dreams.

Miss Akpene Yankson, the current champion from Wesley Girls High School encouraged other students to participate in the competition noting it is very competitive and helps students to develop their creative writing skills. Above all, UBA would support the winners with funding to attend tertiary education which she is happy about.

Is the Informal Sector a tax-haven? – A review of the Vehicle Income Tax paid by commercial vehicles

October 29, 2020

“Taxes are what we pay for civilised society” — Oliver Wendell Holmes, Jr.

Yes, there is a price to pay for every civilised society: but there is imbalance and unfair distribution of the tax burden when people of equal paying ability do not pay their fair share in society.

The informal sector is the largest employer in Ghana, even though it is composed of small units in a very disorganised way – ranging from table-top sellers to artisans, taxis and commercial ‘tro-tro’ vehicles. These sectors do not require any special regulation, so entry and exit into and from the sector is easy.

At the national level, the widespread informal sector raises general concern as to what appropriate tax system can address the sector to make it pay its fair share of taxes to society. This undoubtedly makes domestic revenue mobilisation in Ghana a challenge. There are potentially larger taxpayers in the informal sector than the formal sector

Income Tax Contribution of the Informal Sector

Over the years, successive governments have introduced several strategies in an attempt to tax the informal sector and broaden the tax base; but these have failed to bring it to the required level. About 86% of Ghana’s workforce is in the informal sector. The GRA has over the years expressed difficulty in taxing the informal sector. Currently, the informal sector contributes 1% of the total tax revenue, according to the GRA statistics in 2018; and because the informal sector does not get taxed, the overall tax burden is very unevenly distributed across the economy. These inequities under our current tax system are unfair to all those in the formal sector. When considering the general-equilibrium effect of tax reforms, the business community is likely to be hostile when tax policy is not adequately balanced in its implementation. In an effort to improve the informal sector’s contribution to national tax development, the vehicle income tax was introduced for commercial vehicles.

The Vehicle Income Tax

The Vehicle Income Tax (VIT) started as a standard tax assessment under the Income Tax Decree 1975 (SMCD 5). Under section 44, the Commissioner for Finance was empowered to make legislative instruments to specify persons or classes of persons which would be subject to a fixed standard assessment of income for those identifiable groups.

The Internal Revenue Regulation 2001 (LI 1675) maintained this standard assessment. Regulations 25 provided tax installments payable by members of certain tax categories, including the GPRTU and other transport unions which operate in lorry parks, taxi ranks or similar places. Under this arrangement, owners of specified vehicles were required to pay a flat rate per week ranging between GH¢0.05 and GH¢0.20. The leadership of these unions were collecting the taxes on behalf of GRA and paying it over to them at the end of each week.

In 2003, the system whereby union leaders were collecting the taxes from their members was replaced by VIT stickers under LI 1729, 2003. The key features of the VIT were that:

The stickers were mandatory for all commercial vehicles, and owners were required to purchase the stickers quarterly in advance – with the stickers valid for that quarter only.
The stickers are to be displayed on the windscreen of the commercial vehicles, just like the insurance and roadworthy certificates.
The Ghana Police Service MTTU enforces compliance on behalf of GRA.

The 2016 Income Tax Regulations revised the taxes, and below are current taxes payable by commercial vehicles, depending on the type of vehicle.

Tax Installments Payable by Owners of Commercial Vehicles:

Regulation 22 of the Income Tax Regulations, 2016 (L.I 2244), Regulation 22 of L.I 2244 provides as follows:

This regulation applies to the owner of a commercial vehicle of the description specified in the second column of the Second Schedule.
A person who owns a vehicle of the description specified in the second column of the Second Schedule shall, for each year of assessment, pay as tax the amount fixed in relation to that type of vehicle in the fourth column of that Schedule.
Payment of tax under sub-regulation (2) shall be by quarterly installment on or before the fifteenth of January, April, July and October of each year of assessment.
The Commissioner-General shall, upon payment of the tax at any office of the Ghana Revenue Authority, issue a sticker in acknowledgement of the payment.

Below are the taxes payable by some commercial vehicles (on a quarterly and annual basis)

Class of vehicle	Description	Total Annual Taxes (GH₵)	Quarterly Payment (GH₵)
A1	Tractor and tanker	40.00	10.00
A2	Taxis/ private taxis	48.00	12.00
A4	Trotro (up to 15 persons)	64.00	16.00
B1	Hiring cars (saloon, caravan)	320.00	80.00
B2	Hiring cars (4×4) four wheel	480.00	120.00
B3	Trotro (up to 19 persons)	80.00	80.00
B4	Trotro (20-23 persons)	88.00	22.00
C1	Commuter (up to 15 persons)	80.00	20.00
C2	Commuter (16-19 persons)	100.00	25.00
C4	Tour operator (up to 15 persons)	320.00	80.00
C5	Commuter (up to 38 persons)	160.00	40.00
C6	Tour operator (16-23 persons)	400.00	100.00
C7	Commuter (39-45 persons)	200.00	50.00
C8	Tour operator (24-38)	280.00	70.00
C9	Tour operators (above 45 persons)	600.00	150.00
C10	Commuter (46 and above persons)	240.00	60.00
D2	Dry cargo /sewage tankers garbage trucks	256.00	64.00
D5	Tipper-truck (single axle)	320.00	80.00
D6	Tipper-truck (double-axle)	480.00	120.00
D7	Articulated truck trailers /timber truck	800.00	200.00

Filing Annual Tax Returns after Quarterly Tax Stickers

The amount of tax paid for the Stickers is supposed to be advance payment by installment, and as such at the end of the year a return of income is required to be filed, whereby the owner’s total income is declared to the GRA as well as any additional taxes paid.

Regulations 22 (10) provides that: “tax paid under this regulation by a person does not relieve that person from the obligation to file a return of income under section 124 of the Act, but shall be credited against tax assessed to the person in accordance with the Act”.

Failure to File Tax Returns

When an owner of a vehicle fails to file annual tax returns, the penalty is provided under section 73 of the Revenue Administration Act, 2016 (Act 915). Under section 73 of Act 915, “A person who fails to file a tax return as required by a tax law is liable to pay a penalty of GH¢500 and a further penalty of GH¢10 for each day that the failure continues”.

The Arrival of Uber, Bolt etc.:

Technology redefined the commercial transport sector with the emergence of Uber, Bolt and the like – which are gradually taking over the traditional taxi business.

Uber, for instance, provides an easy and secured way of requesting transportation via the Uber app; and anybody with a private vehicle can register and begin to provide commercial transport without the need to brand the vehicle as a ‘TAXI’. In the end, Uber charges a maximum of 30% while the owner keeps a minimum of 70%. The commission of 30% paid to Uber can go as low as 5% if a certain number of trips are made by the drivers over a specified period – implying that a driver’s share of the fare can go up to 95%. The average sales that drivers make to owners of the vehicle is GH¢400 per week (GH¢1,600 per month or GH¢4,800 per quarter). A typical driver makes more sales to cover his share as well as fuel for the week.

Is the Informal Sector a tax-haven?

Critics say actors in the informal sector of Ghana operate in a tax-haven because the tax system operated by the GRA does not reflect the actual income tax they are supposed to pay. Many commercial vehicle owners do not file tax returns to declare the actual income earned. What they pay is only the quarterly taxes, which is clearly inadequate and does not reflect the reality with regard to the income they earn…inferring from the transport fares passengers pay.

Uber operators do not acquire VIT stickers because anyone can use his private vehicle for Uber operations. The drivers of commercial vehicles do not pay taxes on their income. For instance, Trotro (up to 15 persons) paying GH¢16 per quarter (GH¢4 per month) clearly does not reflect the income tax properly so charged. Critics could be right if these are the amount of taxes paid by commercial car operators. The amount paid for transport fares and hiring cars do not reflect in the taxes paid.

The way forward:

The GRA should revise taxes paid on a quarterly basis to reflect the reality in Ghana.
Tax returns should be demanded before Stickers are issued.
The GRA should tax drivers by giving them tax-cards, and the police should enforce this.
Drivers of Uber and the like should be taxed. GRA should make payment for VIT Stickers by Uber a requirement.

In the end, “Taxes are what we pay for civilised society.” — Oliver Wendell Holmes, Jr.

The writer is an Associate Tax Consultant at MTC

Tel: 0202-397-017 Email: [email protected]

Johnson & Johnson supports mental healthcare training and public education in Ghana

October 28, 2020

US-HEALTH-DRUGS-ADDICTION-COURT — (Photo by Mark RALSTON / AFP) (Photo credit: MARK RALSTON/AFP via Getty Images)

Johnson & Johnson launches ‘Mind-4-life’ & Mental Health Training project and offers full scholarship to nurses in Ghana.

Mental health education and demand for service have over the years been relegated to the background due to the stigma it comes with. Against this background, the world’s largest and most broadly-based healthcare company, Johnson and Johnson, has committed to providing support for the good and total well-being of everyone.

Focusing on mental health with its latest project, the company has launched its mental health project, choosing Ghana as its preferred home in Africa. The project would provide specialist training and capacity building for nurses in community mental health. This would enhance access to specialist mental health services at the primary care and community level. The Mind-4-Life program which requires everyone to “seek help and offer help” is aimed at educating the public to seek assistance when stressed, and be conscious of their mental well-being.

Giving the keynote address, consultant psychiatrist at the Korle-Bu Teaching Hospital, Dr. Sammy Ohene, indicated that despite passing one of the best laws to support mental health in 2012, the content is yet to actualize. What is more worrying according to Dr. Ohene is that Ghana with a population of over 30 million had only 40 psychiatrists, and about 2,000 psychiatric nurses or occupational therapists in the system as of 2012, leaving virtually over 85 percent of the country’s population to their fate without care of service.

According to him, superstition associated with mental health makes it almost impossible for people to access help when they need it most. He noted that the partnership with Johnson and Johnson Foundation, Ghana College of Nurses and Midwives, the Mental Health Authority, and the Psychiatrist Association of Ghana is a great collaborative initiative towards finding solutions to some of the issues with mental healthcare.

The project is aimed to support the Ghana College of Nurses and Midwives with scholarships to train nurses in community mental healthcare and also support public education campaigns with the hope of providing support for people with mental health disorders.

Dr. Sammy Ohene indicates that a lack of funding to be one key challenge that has crippled efforts over the years. He laments that despite the establishment of mental health funds, commitment from the state has been lukewarm.

He says “Because the law stipulates free treatment for people with mental health conditions, they do not use the NHIS card hence they receive little or no attention at the various hospitals”.

He noted with concern that the lack of education, human resource, and infrastructure remains a challenge. “Public education is something that needs to be apt if we are going to get anywhere” he stated.

Out of the 66 nurses currently under the scholarship from Johnson and Johnson Foundation, a beneficiary Emmanuella Awade shared her experience. She stated that the high cost of training of nurses makes it almost impossible for her friends who want to practice mental health to access the relevant education. Most of them give up along the way due to financial constraints. According to Johnson and Johnson, the plan is to spend in excess of $230,000 to train more mental health nurses and support refurbishing of facilities in the school.

On her part as the guest speaker at the launch event, the Deputy Minister for Health, Tina Mensah appreciated Johnson and Johnson for their efforts in the area of mental health.

The Country Manager, Johnson & Johnson Ghana, Priscilla Owusu Sekyere, reiterated Johnson & Johnson’s commitment in seeing to significantly impact society through the “Mind for Life” programs to create a relatively safe environment for people to comfortably and openly discuss mental hygiene needs.

Zeepay and Enterprise Life Insurance partner to offer remittance senders insurance for their beneficiaries in Ghana

October 28, 2020

Zeepay, a fast-growing fintech and a Challenger Electronic Money issuer (Mobile Money Company), has announced a new partnership with Enterprise Life to provide Beneficiary Insurance to remittance senders from the diaspora known as Zeemicro.

People in the diaspora can now purchase insurance cover for their beneficiaries when sending money home and the policy is issued instantly. The service will be available to senders within the United Kingdom directly to Ghana.

Remittance receivers on the policy will benefit from the following: natural death, accident, partial disablement, critical illness and hospital cash income benefit. Through this new collaboration with Enterprise Life, Zeepay is positioned to become a key digital player in the insurance sector contributing to increase penetration which is currently about 1-2% in Ghana.

The Managing Director went on to state that, the uncertainties of life, highlighted by the current pandemic has heightened our sense of anxiety especially amongst Ghanaians living in the UK, who are concerned about the well-being and safety of their loved ones back home.

In this partnership, our goal is not only to offer life cover for the beneficiaries but also to eliminate the anxieties, easing the burden and assuring Ghanaians abroad that their remittances are well protected.

Dede Quarshie, Chief Commercial Officer Zeepay, speaking about the service said: “The service will immediately be available to over 500,000 Ghanaians living in the United Kingdom with beneficiaries living in Ghana. We are optimistic that this service will further deepen our financial inclusion drive across Ghana.”

Felicity Jaforktuk, Mobile Money Product Manager mentioned: “At Zeepay, we are solutions driven and our strategy remains to leverage our Mobile Money platform to drive solutions that impact on everyday lives.

Zeemicro offers GH¢5000 in full cover should there be an occurrence, and all claims will be paid instantly using mobile money. We are delighted to bring this wonderful product to market and thank all our partners for making it possible including Enterprise Life and Gloremit UK our strategic partner for the service”.

Zeepay is the fastest-growing fintech into Mobile Financial Services across Africa with Operations in Ghana and the United Kingdom and terminating to 20 countries across Africa and with termination agreements in over 90 jurisdictions globally. We specialize in Remittance termination into mobile wallets and completely network and partner agnostic.

We are wholly owned Ghanaian company and regulated in the UK by Financial Conduct Authority-FCA # 592538 and in Ghana by The Bank of Ghana- PSD/ZGL/20/03 under the Payment Systems and Services Act, 2019 (Act 987). Zeepay supports Sustainable Development Goals (SDG) 3 and is considered a Financial Inclusion Company positioned to improve last-mile access. Visit myzeepay.com for more information.

JICA, NBSSI to help MSMEs combat effect of COVID-19 on business

October 26, 2020

unicef — Kosi Yankey-Ayeh (Mrs.), NBSSI Executive Director

The National Board for Small Scale Industries (NBSSI) in collaboration with the International Cooperation Agency (JICA) has made available e-learning videos to help Micro Small and Medium Enterprises (MSMEs) in Ghana cope with the impact of the coronavirus on their businesses.

According to the release issued by the NBSSI, the move is aimed at helping MSMEs affected by COVID-19 in order to review their business operations and understand the key areas for sustainability under the pandemic.

It said the videos have been created to provide insights and direction to overcome these challenges.

The release echoed that the COVID-19 pandemic has affected many enterprises in the country by reducing their business opportunities hence the urgent need to support financially and non-financially to strengthen their (Enterprises) resilience and survival.

“JICA and NBSSI are committed to working closely with enterprises affected in these uncertain and difficult times on the specific challenges posed by the pandemic”. It said

The videos it said “consist of three thematic subjects thus KAIZEN^,Financial Management and Marketing, and are now accessible on YouTube.

The Millennial’s Corner with Miss Amofa: Pink October

October 25, 2020

While we seek to achieve our career objectives and business goals, there is one aspect of our lives we tend to neglect, our health. We have become accustomed to a more hectic lifestyle which has robbed us of prioritizing our health. We tend to postpone check-ups until we break down or have an emergency. One of the pertinent health issues many people face especially women is breast cancer.

October is Breast Cancer Awareness Month. Each year, various international bodies, organizations and other stakeholders embark on nationwide campaigns to sensitize the public and create awareness through initiatives such as community education, free screening exercises and fundraising campaigns to support the fight against breast cancer.

The very first time I heard of cancer was when a close relative passed about 17 years ago. At the time, I was very young so I didn’t really understand what it was. Later, I found out that she had died from breast cancer; a disease that has become a nightmare for many women.

Statistics

According to WHO, breast cancer is the most common form of cancer in women with an estimated 2.1 million women affected yearly and causes the greatest number of cancer-related deaths among women. In 2018, it was estimated that 627,000 women died as a result of breast cancer constituting approximately 15% of all cancer-related deaths among women.

WHO further notes that while breast cancer rates are higher among women in more developed regions, rates are increasing worldwide especially in middle to low income countries due to a lot of factors such as increased life expectancy, changing reproductive patterns, inadequate public education, lack of access to timely, affordable and effective diagnosis and treatment and the adoption of western lifestyles.

A documentary by CGTN Africa in 2018 revealed that the International Agency for Research on Cancer estimated that about 4,000 Ghanaians would be diagnosed with breast cancer by the end of that year. It also indicated that about 1,000 of those diagnosed were at risk of losing their lives. There are about 1.7 million new cases and 522,000 deaths recorded annually according to the Global Cancer Observatory.

Breast cancer is the second leading cause of death in Ghana. Late diagnosis, inadequate medical facilities and the growing costs of treatment are the major causes of death. Research has shown that early detection coupled with the right treatment, goes a long way to mitigate or control it, and presents a high chance of survival. On the other hand, late diagnosis presents a slim chance of survival. During this stage, treatment only improves the quality of life and may control the spread of the disease to some extent.

Myths, Misconceptions & Stigma

Majority of women who die as a result of breast cancer are diagnosed during the late stages. Apart from the major causes mentioned, there are also other factors that deter women from seeking early treatment.

In 2015, two of Africa’s foremost journalists, Nigeria’s Chika Oduah and Ghana’s Anas Aremeyaw Anas, set out to investigate the high spate of death among women across sub-Saharan Africa in the documentary Ghana: Cancer Ward through Africa Investigates series by Al Jazeera.

Their expose revealed a growing concern across the African continent – the myths, misconceptions and stigma that surround breast cancer. People believe that women who undergo mastectomy are not ‘complete’ or they will die if they go through chemotherapy. Many women diagnosed with breast cancer face stigma and are ostracized by society. Due to this, some women tend to resort to unorthodox or alternative treatment options to avoid facing stigma. Some also resort to herbalists and faith healers to avoid the high costs of seeking proper medical care.

Risk Factors

Studies have shown that there are various factors that cause breast cancer. According to the Centers for Disease Control and Prevention, most women are prone to breast cancer but not every woman will get the disease. Although breast cancer affects younger women, most breast cancers are diagnosed after age 50. On the Health Segment of Citi TV’s Breakfast Daily Show on 20^th October 2020, Dr. Kelvin Osei, Medical Director of Optimacare Diagnostics spoke on the risk factors of breast cancer.

Age

The risk associated with breast cancer increases with age. Though research has shown that most breast cancers are diagnosed after age 50, younger women in their late teenage years and early twenties also stand at risk. At that age, it’s mostly the aggressive form known as triple-negative.

Family History

A woman stands at risk if any of their close family relations have previously been diagnosed with breast or ovarian cancer. For many women like me, our family history puts as at risk and it is important to get checked regularly. Though women are more at risk, men are also at risk of developing breast cancer especially if they have a strong family history.

Reproductive History

A woman’s reproductive history can also increase her risk of getting breast cancer. Having your first menstrual cycle at an early age, known as menarche and late-onset of menopause increases a woman’s risk.

Screening Methods

Regular breast cancer screening helps to detect cancer or any other abnormalities before there are any signs or symptoms of the disease. Let’s take a look at some of the breast cancer screening methods:

Self-examination: Regular self-examination is a first step to notice any changes to your breast. This will help you to detect if there are any abnormalities such as lumps or boils. If you see such changes, report to your doctor for further investigations to be carried out.
Clinical Breast Exam: Here, a doctor or nurse use their hands to feel for lumps or any other changes to the breast. At this stage, you may be required to undertake a scan if the health official observes any changes to be able to make a proper assessment.
Mammogram: A mammogram is an X-ray of the breast. In most cases, a mammogram is the best way to detect cancer early and before it develops aggressively.
Breast Magnetic Resonance Imaging (MRI): MRI is used along with mammograms to screen women who stand a high risk of getting breast cancer.
Genetic Screening (for those with positive family history): For those with positive family history, genetic testing is one of the best methods to use.

Breast cancer treatment

In low to middle-income countries, the cost of treating cancer is high. Averagely, patients spent about $10,000 and over on cancer treatment in 2018. Unfortunately, many people can’t afford this. In a study conducted by G. Hughes et al on the Economic Cost of Breast Cancer in Ghana: The Komfo Anokye Teaching Hospital Experience indicated that the average cost per patient for the period under consideration was GH¢6,008.09.

Depending on the stage, treatment usually consists of chemotherapy, radiation and surgery. People with certain genes respond to medications which may not necessarily have chemotherapeutic agents.

What’s the way forward?

Though there have been several efforts by the government, health sector, organizations and other stakeholders, more needs to be done in the fight against breast cancer. A collective approach is required to champion this cause. So what’s the way forward?

Campaigns

Stakeholders need to intensify their campaigns and embark on all-year nationwide campaigns and community outreaches especially in rural and urban areas. Such programs will go a long way to sensitize the public and increase awareness on breast cancer its preventive measures, risk factors, possible treatment options among others.

Screening

Most health facilities organize free screening exercises for the general public during this period. However, regular and affordable screening initiatives should be organized by health officials, government agencies and other stakeholders. This will encourage more women to regularly visit health facilities for breast screening.

Policies

Over the years, the government has demonstrated commitment to quality healthcare with the implementation of various health policies and incentives such as the NHIS. The National Health Insurance Scheme which seeks to reduce the cost of healthcare for Ghanaians has been lauded by many. However, the NHIS covers a little fraction of medical costs for cancer patients.

The government needs to formulate health policies, incentives and subsidies that will make treatment affordable to the general public.

Social support

Many people continue to face stigma as a result of the disease while others have been ostracized by society. Breast cancer patients and their families need more community/social support to navigate the challenges. Having a strong support system can help patients deal with the adverse side effects of treatment etc. Micro-communities of survivors, health professionals and caregivers can go a long way to help patients and encourage them.

Research

Conducting extensive research will go a long way in making ground-breaking developments in cancer treatment. Sometimes, we may not see the importance of undergoing routine checks until it hits close to home. October is almost over. Please take advantage of the free screening exercises being organized by various health facilities across the country and get your breast examined. Get checked. Early detection saves lives!

References:

World Health Organization. (2018, September 12). Breast cancer. https://www.who.int/cancer/prevention/diagnosis-screening/breast-cancer/en/

CGTN Africa. (2018, November 2). Ghanaian Doctors push awareness campaign on breast cancer. YouTube. https://m.youtube.com/watch?v=zNzOi-UEWCw

What Is Breast Cancer Screening? (2020, September 28). Centers for Disease Control and Prevention. https://www.cdc.gov/cancer/breast/basic_info/screening.htm

What Are the Risk Factors for Breast Cancer? (2020, September 14). Centers for Disease Control and Prevention. https://www.cdc.gov/cancer/breast/basic_info/risk_factors.htm

“Africa Investigates” Ghana: Cancer Ward (TV Episode 2015). (2015, December 17). IMDb. https://m.imdb.com/title/tt5317186/

Hughes, G. (2013, September 11). Economic Cost of Breast Cancer in Ghana: The Komfo Anokye Teaching Hospital Experience | Journal of Business Research. https://www.ajol.info/index.php/jbr/article/view/94077

CitiTube. (2020, October 20). Breakfast Daily: Tuesday, 20th October, 2020. YouTube. https://m.youtube.com/watch?v=vWhSqvCyd_g&t=1638s

Disclaimer: The information presented in this article were based on the cited references. Other details and inputs were made in consultation with Dr. Sylvester Mensah and Dr. Eliezer Bernard Owusu Ntim who are medical practitioners.

>>>Nana Akua Frimpomaa Amofa is a Writer and Creative Lead of Scripted Impressions, a creative consulting agency that helps individuals and brands tell their stories. She works as Senior Editor at El-Evangel Publications. Her work involves content development, strategy and review of publications. She is also the Project Lead for Community, a platform that provides support and resources to aspiring professionals and entrepreneurs. Connect with Nana Akua via Instagram/Twitter: @missamofa, LinkedIn: Nana Akua Frimpomaa Amofa, Email: [email protected]

Editorial2 : Local businesses needn’t ‘shake’ over AfCFTA

October 23, 2020

As the timeline for the implementation of AfCFTA approaches, a series of engagements to apprise stakeholders what is in store for them has been held throughout the week.

The latest to comment of this landmark trade deal is the Minister of Trade and Industry, Alan Kyeremanten who has given every indication that the country to take full advantage of the continental trade deal.

The Minister indicated that the government has rolled out the necessary structures capable of facilitating the take-off of the deal, come January 2021. He stated that a national steering committee is coordinating and guiding the support that will be given to the private sector.

He expressed optimism that the trade pact has the potential to lead to the rapid increase in the exchange of agricultural, industrial, financial and scientific products which would greatly enhance the country’s economic fortunes.

That is the thinking behind the whole enterprise, that is, to ensure that through free trade, the standard of living of the African peoples would be improved while ensuring that intra-African trade, which is abysmally low, is enhanced to the betterment of the African economy as a whole.

The Association of Ghana Industries (AGI) is also excited about the prospect of a bigger market but are worried about the capacity of Ghanaian businesses to compete, particularly as there are some economic giants like South Africa and Nigeria who they believe would have a larger market share.

That should not be a disincentive to Ghanaian businesses since it would stimulate our competitiveness and force us to adopt good market practices in order to remain relevant. Some of the SMEs believe the more productive economies will dump their products in markets like ours and price out their products.

Most of these fears are genuine and borne out of real concerns but as the Trade Minister has assuaged such fears by saying structures are in place to address all the concerns. He also mentioned a clause in the pact which allows countries to exclude some products they consider sensitive to the growth of their economies from free tariffs etc.

All in all, we are confident that Ghanaian businesses will be frontline actors in the continental free trade area as admonished by President Akufo-Addo. As the market is being expanded, apprehensions are bound to set in but we will definitely scale the course.

AfCFTA- the opportunity Africa offers

October 23, 2020

The African Continental Free Trade Area (AfCFTA) is a single, duty -free, Quota free-market covering the African Continent. Trade is key to Africa’s growth. Africa with all the enormous resources has about 2.6% of all world trade as of 2018 (Afriexim Bank report, 2019).

According to the United Nations Economic Commission for Africa, implementation of the AfCFTA could increase Intra – Africa trade from the current 17 to 52% by 2022. This is a huge opportunity for the growth of African Economies.

The main objectives of the AfCFTA are to facilitate Intra – African trade, promote regional value chains to foster the integration of the African continent into the global economy, to encourage competitiveness and innovation whilst boosting industrialization, and to ultimately contribute to Africa’s economic development and progress.

At Absa, we believe in Africanacity – that is, finding innovative ways to get things done in the midst of challenges. This describes how African always finds ingenious ways to do things. Hence, our commitment to partner Africa to realize the growth and opportunities AfCFTA presents, this to us is Africanacity. Though the COVID-19 pandemic has impacted businesses and sectors differently across the regions, it is worthy to note some highlights of key significance.

The hospitality sector, due to border closures and reduction in international travel, tourism and entertainment has adversely been impacted whilst technology services providers are seeing growth as people embrace the new normal, where organizations have employees working from home, students learning online.

In addition, though the pandemic disrupted the global supply chain, it also presents an opportunity for countries to look at rebalancing overreliance on global suppliers in favour of more competitive regional and local manufacturers. This presents a huge opportunity for our local manufacturers. This is the time for local and regional manufacturers to collaborate to increase market share. As Michael Kottoh of Konfidant puts it- Covid -19 presents a huge opportunity for us in Ghana and Africa to pursue a “Made in Africa” Revolution.

In this paper, I will focus on five essential opportunity areas in Africa and suggest steps that African Governments, Policymakers, Private Sector, The Youth, Financial institutions and Investors can take to translate the opportunities into profitable, sustainable enterprises for Africa’s growth.

Africa’s Youthful Population and Education

The first opportunity in sight is Africa’s youthful population and education. Africa’s youthful population presents a powerful opportunity for accelerated economic growth and innovation.

While other world regions face an ageing population, the average age in Africa is 19.7years, compared to Asia’s 31 years and Europe 43 years (Worldometer, 2020). Africa will have the largest workforce by 2040, surpassing India and China, and the million-dollar question is how we will harness this opportunity? Key focus areas to harness these opportunities are but not limited to education and training for the youth. African Governments need to be deliberate about harnessing the potential of the youthful population in Africa to play a key role in the growth of the continent.

In addition to the above, governments need to relook at their human capital development budgets. Ghana is making positive strides in this regard with the Free Senior High School Program and as a forward-looking people; Ghana is focusing on Tertiary and Vocational education, as they are critical for skill development. The benefits of investment in human capital are enormous as it makes Africa the workforce for the world, by exchanging services for revenue. Key skillsets required to achieve this are; critical thinking, problem-solving, innovation, and value addition training and entrepreneurship skills.

With the right investments made into human capital development using education as the tool, Africa can improve both the supply and quality of skills needed for competitiveness and job creation.

Promoting entrepreneurship and innovation in African youth cannot be overemphasized. Investors and governments must support such young talents with funding and the necessary resources to help their businesses thrive. The partnership of existing well-established manufacturing companies with start-ups will provide a great advantage for them to upscale, expand production, access to market and network.

Absa’s StartUp Banking aimed at supporting the fast-growing Ghanaian StartUp ecosystem by equipping startup businesses with relevant business skills and knowledge to scale up their business, provide them with relevant financial solutions and support job creation for economic growth.

We are also committed to bringing the possibilities of Africa’s youth to life. Our ready to work proposition has trained almost 500,000 young Africans –training them with soft skills for improving their employability or self-employment prospects, with 25,000 young Africans benefitting from workplace experience, internships and placement opportunities.

We have invested over US$52 million in education and out of that, US$29 million was invested into over 10 000 scholarships across 100 African universities, including 13 universities in Ghana. Over 10,000 Small and Medium Enterprises have been trained on business strategies and best practices to grow their businesses.

Huge potential for industrialization

Africa is a continent beaming with a myriad of growth opportunities. From the abundance of agriculture, about 60% of arable land and mineral resources, to the fast-growing population and markets, which present important opportunities for industrialization.

We can achieve this by leveraging on our abundant natural and human resources – Ghana and Cote d’Ivoire alone make up 60% of the world’s, cocoa and Ghana the leading gold producer in Africa. There is also a need to increase local production to reduce our import bill as a continent. Even in these uncertain times with the impact of COVID-19 affecting global trade, we see many Ghanaian industries rising to the occasion to innovate to meet growing demand. One of such notable local manufactures is Ernest Chemist who has increased production of the Nester hand sanitizers to meet demands for sanitizers. We must take advantage of low hanging fruits to boost industrialization.

A focus on processing and value addition presents an opportunity for us to add value to rich raw materials as we process, package and transform them for domestic consumption and export. Examples of some commodities we can add value to are cotton for textiles and apparels, cocoa for chocolates – Ghana produces some of the best quality cocoa in the World. Ghana and Africa abound in maize, millet and other cereals, these can be processed in our breweries to produce a low-cost beer market due to the readily available starch crops such as Maize, Cassava, and Sorghum.

Again, Africa has about 60% of the world’s uncultivated arable land. We must change the narrative of food being one of our major imports in Africa. According to AfDB report on industrialize Africa, consumer spending will double to $1.4 trillion by 2020 and increase to $2.1 trillion by 2025 by 2030, demand for food in urban areas will reach $1 trillion. Africans must be manufacturers and not only consumers. Within the next 50 years, the label made in Africa would be as popular as made in China and we must aim for this and more.

Infrastructure and urbanization

The third area of opportunity Africa presents is Infrastructure and Urbanization. The intra-Africa trade presents us with an opportunity to be interconnected although we must admit we have some gaps.

According to the African Development Bank, to unleash Africa’s economic potential, there is a need for about US$170 billion investment every year in infrastructure. However, while Africa’s infrastructure still lags behind, there is still an opportunity for Africa to make significant progress, for instance; Governments and entrepreneurs must capitalize on the infrastructure gap in order to create jobs and retain capital in Africa i.e. award contracts to more local contractors.

Africa has the second-highest urbanization rate in the world and by 2050, 56% of its population will be urban. Economic studies reveal that in the next 10 years, Africa’s 20 biggest cities are expected to grow by 50%. This presents new opportunities in infrastructure development.

Investment opportunities – role of the financial sector

There are wide ranges of opportunities that are opening up in Africa’s financial services space. They include bill payments, bulk disbursement, international remittances, merchant payments, mobile banking, person-to-person transfers, peer-to-peer lending, micro-lending, micro-insurance, and several other interesting opportunities.

Africa has a well-developed financial sector that can:

De-risk investments for the Private Sector
Leverage on Capital Markets to raise funding
Mobilize capital for development
Export Credit backed transactions

Design infrastructure funding platforms i.e.- crowdfunding
Partnership with export credit agencies on equipment supply

With the industrial and infrastructural opportunities that the AfCFTA will promote, Africa’s financial services sector will be relied on to provide the credit and necessary support for key industries to progress.

This is where the Absa Group comes in. For over 100 years, we have demonstrated our long-term commitment to the continent by being book runners, arrangers, or lenders for multiple development projects across the continent. Transactions including leading the biggest single-day domestic currency issuance in sub-Saharan Africa – the $2.25bn issuance in 2017.

In the Construction and Manufacturing sphere, we are a partner bank for the One District, One Factory (1D1F) program providing financing across multiple industries. We played a key role in providing funds to support the Ghana Road Fund Secretariat for the construction and maintenance of major road highways. Eg. Tema Motorway. In Uganda for example, we have collaborated with the government to construct a specialized hospital facility. We have also supported industrialization massively across Africa by funding for rail network projects in South Africa and the development of port facilities in Mozambique, to cite a few.

The technological wave

Finally, yet importantly, Technology is a key opportunity area for Africans to tap into as the AfCFTA kicks off. At Absa, we are a digitally-led bank and pride ourselves with our ability to meet our clients’ financial needs using digital solutions to bring them speed and convenience.

According to a McKinsey Global Banking report (2018), Africa is the hotbed for innovation and 40% of Africans prefer to use digital channels for transactions. Governments and the private sector must therefore deliberately support fintech and other tech startups to grow and scale-up, hence Absa’s startup banking to give Small and Medium Scale Enterprises the needed boost to succeed in the fourth industrial revolution.

The below are essential pointers on why it is essential for government and private sectors to take a keen interest in technology.

Increased Mobile Penetration and connectivity.

Sub-Saharan Africa as at 2019 had a 44% smartphone penetration with 26% mobile data traffic across the continent and this penetration rate is expected to grow by 9.7% by 2025 (GSMA Mobile Economy Statistics, 2020). It is also worthy to note that most of the innovation in mobile technology came from Africa.
Similarly, an article from the Harvard Business Review press, 2018, reveals that Africa has more than 120 million active mobile money accounts, over 50 percent of the global total; this trend will allow companies to improve productivity, speed up transactions, and access wider markets, and could add $300 billion to the continent’s GDP by 2025.

Online and Mobile Banking

With the spread of mobile phones and internet across Africa, the continent’s entrepreneurs are leveraging technology to deepen financial access in innovative ways and banks are no different. Absa’s Chat banking, Vertical Cards for all online transactions and our Absa Access digital platform, which provides convenience for salary payments and remote banking has redefined our way of banking.
At Absa, we have user-friendly mobile banking platforms, which we are used in boosting Financial Inclusion for Africa and making banking attractive for the unbanked population in Ghana. Absa’s Trade Management Online channel is a secure online electronic banking platform aimed at small, medium, large and corporate customers. The channel provides a platform for clients to initiate, receive and manage the full lifecycle of the current trade finance products and services across Africa, indeed a much-needed solution for the global village our world is evolving.

Role of technology adoption for economic growth

Technology is key to the economic growth of every nation and as mentioned earlier, it is a known fact that Digital growth is directly proportional to the GDP growth of a country. Our governments and private sectors must therefore collaborate and create local digital solutions relevant to our economic needs. This in essence will create efficiency in the system, freeing up resources and money to be channeled into other areas of economic development.
The private sector is seen to be using technology efficiently, the public sector is, however, making positive strides in this regard by utilizing technology to streamline and ease some of the internal processes that are manual and cumbersome. Examples of these are; the digital registration of businesses, filing of taxes and digital address systems, and I must say the government has done great with the current Digital Address system, and paperless port initiatives.
We must use technology to bridge the inequality gaps and bring ease to doing business in our countries. Tech giants like Facebook, have now acquired WhatsApp and are in works to roll out a payment platform. This will have a huge impact and coverage, and if care is not taken, all these foreign corporations and innovations may swallow up Africa.

In summary digitization — (the mass adoption of connected digital services), has emerged in recent years as a key economic driver that accelerates growth and facilitates job creation.

Conclusion

Africa’s 55 countries are diverse in terms of population, stability, and development level and growth rates. However, with integration and collaboration, we can create self-sustainable and profitable economies that will benefit all. We must continue in our ingenuity and authentic approaches to getting things done.

At Absa, we call this Africanacity, we are ready to play our role in helping Africa, and AfCFTA succeed! Africa needs a new attitude. We need to change the way we think and consciously change our behaviour. We have the resources to industrialize; we have the power to create employment for our youth. We must look within. Africa’s economy will develop if we can rise up and do something ourselves because what Africa needs now, is integration and collaboration, not aid!

>>>the writer is the Regional Corporate Director, West Africa at Absa Bank Ghana

Editorial: A game changer

October 23, 2020

Photo: Deputy Trade and Industry Minister, Robert Ahomka-Lindsey

The country saved GH₵95.7 million or an equivalent of US$16.8 million when she endeavoured to locally manufacture personal protective equipment (PPE) during the heat of the coronavirus pandemic.

This was disclosed by the Deputy Trade and Industry Minister, Robert Ahomka-Lindsay at the Nation Builders update held recently under the theme: ‘Protecting lives and livelihoods’.

The pandemic forced the country to look within to manufacture essential PPE like sanitizers, nose/face masks; something that became a scarcity globally. This saved the country crucial foreign exchange equivalent to US$17 million which is significant to note.

Indeed, the pandemic caused the country to be self-sufficient in the provision of hospital gowns and headcovers not excluding the medical gear worn by frontline health workers.

The Deputy Trade Minister made it clear that had the country not relied on local fabric manufacturing companies to produce face masks and other accessories in large quantities, the country would have had to go looking for foreign exchange to procure the items.

He went on to add that as a result, 10,000 direct jobs were created and this is remarkable because the outbreak of the pandemic saw a number of firms’ close shop as a result of low economic activity. This obviously has to be commended and goes to reinforce the adage that necessity is the mother of invention.

This goes to demonstrate that the country is capable of being self-reliant in many respects and that a Ghana beyond aid is a feasible objective, provided the country puts its mind to it. In fact, a lot of commendation has to go to these manufacturers of essential products since the case count for COVID-19 was remarkably low to the benefit of the nation.

Sometime in May this year at the height of the pandemic, Medecin Sans Frontires (MSF) issued a press release calling for the market in PPE to be regulated.

COVID-19 caused shortages and price rises in PPE, especially for frontline health workers. In early March, the WHO noted that since the start of the pandemic, the price of surgical masks had increased six-fold. The price of respirators had trebled and the price of surgical gowns had doubled.

However, owing to our ability to produce the same locally, no such shortage affected the Ghanaian market. In fact, we had in excess face masks and hand sanitizers to the extent that the market was overflowing with such products.

Transforming Ghana’s plastic waste for economic gains through environmental policy implementation

October 23, 2020

In many African countries including Ghana and around the globe, plastics play a very important role in the economic lives of people due to its durability, potability and affordability. Plastics play a significant role in transporting Ghana’s indigenous goods. Indigenous food products like ‘‘waakye’’ and ‘‘kenkey’’ are no exceptions. However, these poly bags are single-used, on average these plastics can only be used for a maximum of an hour, but live with us in the environment (land-fills) for decades. The sad reality in Ghana is that most plastics we use are non-biodegradable which end up either on land-fills (which is not effectively regulated), gutters or in water bodies. Reports from the World Bank have it that Africa produces almost 70 million tonnes of waste each year. It is believed that as poorer people move to middle-class status there will be pressure on the consumption of plastics and the resulting effect leading to more waste generation. The quantum of waste generated is expected to increase exponentially as more urban centres spring up.

Most businesses in Ghana are more focused on their profit margins without considering the environment which their businesses are operating. Giving equal attention and prominence to the environment will lead to a green economy. The green economy will also ensure sustainability. A classic example of adopting a circular economy is where the Philippines give their enormous plastic waste a second life by using recycled plastics to manufacture cement and build roads. This drastically minimises the plastic garbage found on land-fill sites and drains. Embracing this approach of circular economy in Ghana would save the nation the accompanying problems like perennial flooding after a heavy downpour as plastic waste choke gutters and other drainage systems.

Governments Generating Revenues from Plastic Waste Through Environmental Policies

Governments elsewhere in the world generate revenue from poly bags as a way of controlling plastic waste. UK countries including Wales, Scotland and Northern Ireland introduced the ‘‘carrier bag levy.’’ This compels consumers to send their own poly bags from homes to shops or use bags that have longer shelf-lives in order not to pay a fee for a bag. Wales began charging 5 pence for plastic bags in 2011which resulted in a 71% reduction of plastic waste generated. Around 80% of the revenue generated from the levy goes to charity while 20% is channelled into government treasury (ec.europa.eu). Italy enacted and implemented a law that poly bags produced for commercial uses must indicate what they are made of and how they can be re-used and or/recycled (reusebags.gov.uk/carrier-bags). These initiatives in the respective countries have greatly contributed to controlling plastic waste in the environment.

In Ghana, black poly bags are normally given out for free in most shops after the purchase of items which is definitely not the case elsewhere. Can Ghana government adopt and implement the ‘‘carrier-bag charge’’ as a way of generating revenue and minimising plastic waste? Assuming 10 pesewas is placed on each carrier bag/polybag and 30 million Ghanaians use it a day will accrue to about GHC 3 million revenue generated into government coffers. This cumulative revenue (generated yearly/quarterly) will help meet the numerous government projects such as the construction of roads, provision of potable water amongst others. South Africa adopts the use of a mobile van called ‘‘Packa- Ching.’’ This van travels across low-income countries to buy plastic waste, metal cans and paper. The van pays for these wastes where the money is sent into an e-wallet payment system called eVoucher.Mobi. Research shows that countries which have adopted a circular economy saw an improvement in the economic lives of indigenes coupled with the environmental benefits of recycling. Efficiency analysis was rather seen in the improvement of economic fortunes (Robaina, 2020).

Adopting Environmental Policy Instruments in Ghana

Environmental Policy Instruments help to mitigate the impacts businesses have on the environment by collaborating with government actions. Few of these environmental policy instruments include;

Polluter-Pays Principle: this is a widely accepted practice in most European countries which works by making the polluters pay for the cost of managing the harm they cause in order to save the environment and human health. But my question is how effectively can this principle be applied here in Ghana? Taking the sachet water producing companies as an example would imply that they should be charged per the quantum of waste they generate annually (through information from waste companies).
Producer responsibility: due to the ever-increasing wastes generated, governments all over the world have resorted to making producers of goods face the responsibility for their products from inception to end-of-life (post-consumer stage). It then provides incentives to the producer in a bid to minimise wastes and rather encourage producers to practise a circular economy approach through product design/recycling. This approach minimises the impacts businesses have on the environment since products can be repaired, recycled and reused over and over again. In this way, the ‘‘cradle-to-grave’’ approach is stopped in favour of the ‘‘cradle-to-cradle’’ approach.
The Role of the Ghanaian Media in Educating the Masses: the media has a significant role to play in influencing positively the large majority of Ghanaians to become environmentally responsible. There could be flagship programmes by media houses on the environment which will be purposely dedicated to discussing sanitation issues and our roles as citizens. Programmes in reference to the Environment, for instance ‘‘Time with our Environment’’, ‘‘Going/Living Green’’, ‘‘Eco-Education’’ where environmental experts would be engaged to discuss alternatives to making our beloved country cleaner and healthier. I personally refer to the individual responsibilities of citizens towards the environment as ‘‘Consumer Responsibilities’’ where fly-tipping would be discouraged.

In conclusion, adopting and implementing these environmental policy instruments suggested above will not only be a means of raising revenue but also significantly contribute to achieving our environmental and sanitation objectives as a country.

REFERENCES

Jiao, C. (2020). ‘‘The Philippines is Making Roads & Cement with Plastic Garbage.’’ Sourced from: Bloomberg.com. Retrieved on October 09, 2020.
Racapé, C. (2019). ‘‘Plastic Waste- a new currency in low-income countries.’’ Retrieved from: gsma.com. on October 12, 2020
Robaina, M. Murillo, K. Rocha, E. & Villar, J. (2020). ‘‘Circular Economy in Plastic Waste-Efficiency analysis of European countries.’’ 730:139038

Author Information:

Richard K. Asare (MSc.)

Environmental Health Consultant

University of Siena, Italy/University of Cape Coast, Ghana

+233(0)201069601/[email protected]

Kodwo Manuel’s thoughts: Developing your customer experience model

October 23, 2020

Customer Experience Drawn on White Brickwall. 3D — Customer Experience on Modern Style Illustation. with Orange Arrow and Hand Drawn Icons Around. Customer Experience - Business Concept. Inscription on Brick Wall with Doodle Icons Around. 3D. Credit: KoMarketing

…listening to the Voice of the Customer is critical to growing your business

In my last piece, I talked about strategy and made ‘noise’ about its inevitability to achieve harmony in whatever we do as a business or organization. My goal was to highlight the importance of crafting a well-thought-out approach to delivering value to clients. Admittedly it can get a bit technical when you are seriously assessing the needs of your customers in order to proactively engage them to enhance the experience you envisage for them as a consequence of your understanding of their needs ‘outside-in’. In business terms, our efforts in this direction will lead us eventually to a business model, one we can communicate very clearly to every member of our team in a manner that achieves buy-in and spurs them on to outputs with tangible outcomes.

Jerry Gregoire, a former CIO at Dell once said: “Customer Experience is the next competitive battleground”. This is a reality today and organizations need to take this into account. To thrive in our chaotic and unsettling business environment (precipitated by unpredictable events such as covid19), organizations must seek to understand their customers more than ever before. This means in simple terms being intentional about how we relate with and engage our customers as they traverse our touchpoints.

The Erdem – Tavsan Customer Experience Model

In real terms, a model is ‘a thing used as an example to follow or imitate’, this could be a system or a procedure. The key is to move away from the approach that focuses on managing customer experience one piece at a time as it tends to become very daunting. By inference customer experience components do not fare well all by themselves, therefore having a dynamic overview of the entire process paves the way for the design of a successful and exceptional customer experience. The Erdem and Tavsan (2018) customer experience management model, presents us with a basis to identify the moving parts of customer experience and to relate them together for great effect. Four levels make up the building blocks of this model. These are the Cognizance, Response, Perception and Relationship levels. The Cognizance level is the first step in this process. It is the inception of the model and presents the starting point for a company desirous of understanding ‘which experiences customers pursue and why’. Truth be told if a brand is simply unsure of what is important to the customer it is trying to serve, they will fail woefully in trying to connect and will subsequently fall out of line in getting them to consider developing a relationship. What any business seeks at this level is to understand the ‘Voice of the Customer’ (VoC).

Voice of the Customer

The VoC is the process of capturing customer’s experiences, expectations, preferences and aversions through a detailed assessment of the wants and needs of the customer using both quantitative and qualitative research methods. Wyndham Destinations Asia Pacific, a vacation programmes provider, use a tailored hub to support its customer experience team to find the true voice of their customers and inspire customer-led transformation programmes. By capturing feedback from their touchpoints throughout the customer journey, they are able to uncover insights so that management could make smarter decisions and respond quickly to issues. The next level in the model is the response level, which is the capability of a company to close the ‘experiential gap’. This is the disconnect between the company’s understanding of the customer based on their own internal perspective and what the customer is actually feeling, thinking or doing. The ideal situation here is for the offering at any of the touchpoints to integrate with the customer’s viewpoint. In real terms, this may not be exact however companies need to work hard to ensure that this gap is as narrow as possible.

To orchestrate an ideal response to the customer 3 functions are key here. These are organizational competence, the skilled human capital responsible for delivering intended experiences to the customer; the organizational climate is about creating the conditions or atmosphere in the workplace to influence correct responses to the VoC. The final ‘spoke in this wheel’ is the operational reciprocity focusing on the capabilities of production, operations, processes and channels which the company uses in delivering designed experiences to customers. These Response elements are ones we must harmonize to properly respond and engage the voice of the customer. This underscores the need to focus more on integration as opposed to working in silos as the panacea for improving our response to the needs of the customer.

At the Perception level, the focus is on how customers perceive the brand. While some seek functionality in a brand others seek emotional attachments. What do Apple and Samsung have in common? The Apple experience is to satisfy their loyalists by putting more people than they need into their stores. What Apple cares about is providing a user experience that is company-focused, even if that means turning off a certain kind of consumer, Apple loyalists are doggedly attached to the brand and do not intend to go anywhere soon. Samsung, on the other hand, wants to get their phones in the hands of as many consumers. It is about allowing the consumer to choose the experience that is right for them. The irony here is that each approach has its ups and downs. However, each approach has resulted in tremendous global success for both companies! Companies must necessarily be aware of the values of their products or service ignite in customers.

Building relationships

The relationship level depicts the nature of bonds between customers and the company. This may be influenced indirectly by advertisements, referral by friends and colleagues or online contacts. Note that even the most satisfied customers can defect. Consumers develop relationships depending on their consumption experience. Bonds that develop between the customer and the brand are interpreted by companies as proof of loyalty. It can be both attitudinal (the state of mind that causes a customer to lean towards the repurchase of a product or service) and behavioural (the act of repurchasing regardless of the customer’s attitude). Customers develop loyalty or disloyalty from buying, using or disposing a product, different emotional responses are at play a process that leads ultimately to loyalty towards a certain brand. Studies have shown in B2B markets that up to 65-85% of defectors were satisfied or very satisfied with their former supplier. When Virgin launched its upper-class it captured swathes of British Airways first-class passengers. While BA used Customer Satisfaction Index (CSI) feedback to determine customer loyalty, by listening to their customers Virgin changed the rules of the game – cars to airport, quick check-in, bars, lounges, massages and so on.

Being close to your customers is an imperative act that must not be glossed over. The advantage of using a structured method to elicit our customer’s mood and positioning with regard to our brand, iteratively, is that we are consistently taking time to find out what they enjoy experiencing. This is what the experts say, by listening to the customer at your touchpoints e.g. product websites and social media as they share what is important to them and their feelings about your offerings, your company and your competitors, you learn very valuable lessons from them that will help you close the ‘experiential gap’.

The importance of listening to the VoC

By collecting the VoC accurately, you empower your business with first-hand information on how the customer generally feels about your product or service. This is a vital tool that will potentially enhance your competitiveness, by better understanding your customers you will be well-placed to make informed decisions that align with their needs. According to a research by Forrester, improving customer experience can be massively worthwhile citing that mass-market auto manufacturers through improved customer experience by the slightest margin lead to more than $1bn in additional revenue. According to McKinsey, ‘A fundamental organizational change of mindset that focuses on the customer, along with operational and IT improvements, can generate a 20% to 30% uplift in customer satisfaction and a 10% to 20% improvement in employee satisfaction’. Making use of customer information with the benefit of technology has limitless benefits.

By applying a range of information gathering techniques from focus groups, ethnographic techniques coupled with some form of an interview to gather the information you will mine a rich store of information highlighting customer insights to help make informed decisions. I can personally attest to this, a few years ago I had the privilege of participating in a focus group study to assess the appetite for a poultry product, to determine the general appetite and its price competitiveness with existing known products. The discovery was phenomenal, we realized that demand exceeded supply and that if we could turn things around by boosting supply we would be in good stead to tap into a hoard of interested international buyers. VoC programmes have been proven to help companies retain customers, deliver improved service and understand customer experience better in order to drive change.

The Writer is the Managing Consultant at Capability Trust Limited a People and Learning Organisation serving the market with Talent Acquisition and Management, Leadership Development, HR Outsourcing and General HR Advisory, Training and consulting services. He can be reached on 059 175 7205, [email protected]/ www.linkedin.com/in/km-13b85717

Suspicious transaction in banking

October 23, 2020

-A step in fighting money laundering and terrorist financing.

“Not guilty on until proven guilty in a court of competent jurisdiction”. This is a common statement in various spheres of the legal fraternity and also in any community where justice takes centre stage of events. However, that statement brings me to a very important aspect of Compliance thus “suspicious or unusual transactions” as customers strike acquaintances with their financial institutions through transactions. A transaction may seem suspicious or “guilty” but such conclusion cannot be drawn until it has been proven to be a bad transaction (fraudulent). Suspicious or Unusual transaction is discussed in this write-up in the context of money laundering, counter-terrorist financing, and the proliferation of weapons of mass destruction.

The article looks at the meaning of Suspicious transaction, detection and handling of suspicious transactions as prescribed by Anti-money laundering act and regulation. It identifies and describes some factors that hinder the detection of a suspicious transaction by financial institutions.

The article finally makes suggestions to overcome the hurdles that impede the detection of suspicious transactions by financial institutions. In addition, the author introduces readers to his own construct of a Suspicious Transaction Grid that can aid in the simulation process to determine whether or not a transaction is suspicious. The objective of this article is to remind and educate bank staff on the tenets of handling Suspicious transactions.

Suspicious or unusual transaction defined

According to the 1.17 (a) of the Bank of Ghana and Financial Intelligence Centre AML/CFT& P Guideline for Banks and Non-Bank Financial Institutions in Ghana, July 2018. (herewith referred to as BoG and FIC Guideline, July 2018) under section 1.17 (a) defines Suspicious Transaction as “as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering methods. It includes such a transaction that is inconsistent with a customer’s known legitimate business or personal activities or normal business for that type of account, bank product or that the transaction lacks an obvious economic rationale.”

There are no hard and fast rules as to what constitutes suspicious activity, financial institution employees are to watch for activities that are not consistent with a customer’s pattern of regular business. In short, the suspicious or unusual transaction can happen at every touchpoint of the customer and/or employee with the bank. Indeed, it can exist in every facet of banking.

Some examples of suspicious financial transactions

Transactions

Cash

Cash transactions conducted in an unusual amount from that of usually conducted by the relevant customer.
Transactions conducted in a relatively small amount but with high frequency (structuring).

Transactions conducted by using several different individual names for the interest of a particular person (smurfing).

The foreign currency exchange or purchase in a relatively large amount.
The purchase of several insurance products in cash in a short period time or at the same time with premium payment entirely in a large amount and followed by policy disbursement prior to the due date. (ie Bancassurance)
The purchase of securities by cash, transfer, or cheques under other person’s name.

Economically irrational transactions

Transactions having no conformity with the initial purpose of account opening.
Transactions having no relationship with the business of the relevant customer.

iii. Transaction amount and frequency are different from that of normally conducted by the customer.

Fund transfers

Fund transfers to and from high-risk offshore financial centres without any clear business purposes.
Receipts or transfers of the fund in several phases and once accumulated the funds are subsequently transferred entirely to other accounts.

iii. Receipts or transfers of funds at the same or approximately the same amount and conducted in a relatively short period (pass-by).

Fund payments for export-import activities without complete documents.
Fund transfers from or to other high-risk countries.
Receipts/payments of funds made by using more than one (1) account, either in the same name or a different one without any pertinent justification.

Behaviours of the Customer
Unreasonable behaviours of the relevant customer when conducting a transaction (nervous, rushed, unconfident, etc.).
Customer/prospective customer gives false information with respect to his/her identity, sources of income or businesses.

iii. Customer/prospective customer uses identification document, that is unreliable or alleged as fake such as different signature or photo.

Customer/prospective customer is unwilling or refusing to provide information/documents requested by bank officials without any clear reasons.
Customer or his/her legal representative tries to persuade the bank officials in one way or another not to report his/her transaction.
Customer opens account for a short period and after some transactions, applies to close the account.

vii. Customer is unwilling to provide right information or immediately terminating business relationship or closing his/her account at the time bank officials request information with respect to his/her transaction.

The role of financial institutions in detecting and handling suspicious transactions

Under Sections 32, 33, 34, 35 and 36 of the Anti-Money Laundering Regulations, 2011 (L.I 1987) have the following to say;

(1) An accountable institution shall pay special attention to transactions that

(a) are complex,

(b) involve unusually large sums of money,

(c) have unusual patterns, or

(d) have no apparent or visible economic or lawful purpose.

(2) An accountable institution shall in furtherance of sub-regulation (1)

(a) examine the background and purpose of the transactions specified,

(b) record the findings in writing within twenty-four hours, and

(c) forward the findings to the Centre.

(1) An accountable institution shall make a suspicious or an unusual transaction report regardless of

(a) the amount involved, or

(b) whether the transactions are thought to involve tax matters, if the person making the report has reasonable grounds to believe that the transaction is being made to avoid the detection of money laundering.

Procedure for reporting a suspicious or an unusual transaction

Regulation 34 of the Anti-Money Laundering Regulations, 2011 (L.I 1987) has it that;

(1) Where an employee of an accountable institution receives information in the course of business as a result of which the employee knows, suspects or has reasonable grounds to believe that a person is engaged in money laundering, the employee shall disclose the information

to the anti-money laundering reporting officer.

(2) The anti-money laundering reporting officer shall consider the report in the light of relevant information available to the accountable institution and determine whether the contents of the report give reasonable grounds for knowledge or suspicion of money laundering.

(3) Where the anti-money laundering reporting officer determines that the report gives rise to reasonable suspicion of money laundering, the anti-money laundering reporting officer shall inform the superior of the anti-money laundering reporting officer.

(4) The accountable institution shall make a report to the Centre within twenty-four (24) hours after the knowledge or suspicion in a specified format by FIC.

Now under section 30 of the Anti-Money Laundering Act, 2008 (Act 749)

(3) A person who makes a suspicious transaction report shall not

(a) disclose the contents to another person, or

(b) reveal the personal details of the officer of the Centre who receives the report to another person.

(4) A person who receives a suspicious transaction report shall not

(a) disclose the contents of the report to a person not authorised to know the contents of the report, or

(b) disclose the personal details of the person who made the report to another person.

(5) A person who makes a suspicious transaction report shall disclose the contents where

(a) the person is required by law to disclose the contents,

(b) it is to carry out the provisions of this Act,

(d) it is by an order of a Court.

The law offers protection against civil or criminal liability for the person (s) who reports suspicious transactions in good faith. This is clearly stated under section 32 of the Anti-Money Laundering Act, 2008 (Act 749) as a “A person who makes a suspicious transaction report under section 30 is not liable for the breach of a restriction on disclosure of information imposed by contract or by any law if the person reports the suspicion to the Centre in good faith.”

Failure to report a Suspicious Transaction or an Unusual Transaction

According to the Anti-Money Laundering/Combating The Financing of Terrorism & The Proliferation of Weapons of Mass Destruction (AML/CFT&P) Administrative Sanctions/Penalties for Banks and Non-Bank Financial Institutions in Ghana. Failure to file a Suspicious Transaction Report as indicated under section 30 of the Anti-Money Laundering Act, 2008 (Act 749) attracts a minimum of 5,000 penalty units a jail term and in some cases both.

The role of financial intelligence centre in handling suspicious transactions

Anti-Money Laundering Regulations, 2011 (L.I 1987) spells the role of FIC in respect of handling the Suspicious Transactions reported by accountable institutions.

(1) The Chief Executive Officer of the Centre shall receive suspicious or unusual transaction reports.

(2) The Centre may receive a suspicious or an unusual transaction report

(a) verbally,

(b) in written form,

(d) by electronic mail, or

(e) by other means of communication.

Record of a Suspicious or an Unusual Transaction Report

36. (1) The Chief Executive Officer of the Centre shall, on receipt of the suspicious or unusual transaction report

(a) make a written record of the report,

(b) record the report on a computer system or an electronic

device capable of being used to store information, and

Anti-Money Laundry (Amended) Act, 2014 (Act 874)

Section 36 of Act 749 Amended-Continuation of transactions;

(2) If the Centre considers it necessary based on the seriousness or urgency of the case, the Centre may order the suspension of a transaction for a period not exceeding seven working days.

The Chief Executive Officer of the Centre may apply to the court within 7 working days after transaction has been suspended for issuance of a freezing order. This freezing order if successful allows the Centre one year to conduct full investigation into the substance of the report.

(3) The person affected by the suspension shall be informed within forty-eight (48) hours of the suspension and may seek redress from the court.

What hinder the detection of suspicious transactions by financial institution.

In real life, no system is 100% perfect. This stands to reason that no matter how robust systems, processes and procedures are made, some suspicious or unusual transactions can slip through and may not be detected. The question of who must detect suspicious transaction or unusual transaction has remained unanswered for a while. The answer remains that, since suspicious transactions can happen in every part of a financial institution, then every staff holds the responsibility of detecting a suspicious transaction. The drive in getting all staff ready to be able to detect suspicious transactions in most cases are spearheaded by the Compliance Department, Internal Audit Department and any other supervisory department or units. Although there are a lot of factors that hinder the detection of suspicious transactions, the following are very paramount.

For top management, compliance and internal audit teams, communication must always be strategy-level agenda. In the past, management of financial institutions did not get involved in communicating the compliance message, but now nearly every CEO or Managing Director talks about ethics and compliance in fora ranging from radio or TV interview, staff durbars, internal communication circulars, annual training of Board members, to investor relations communications and other public events. Still, internally, managers and trainers face an uphill task on issues of compliance within organizations.

There must be routine and thorough training on the respective compliance function of financial institutions and “Red Flags” for all staff. For training to be relevant to departments with varying responsibilities or a dispersed workforce, it needs to be relevant to the business and cultural issues those employees face. Training budget for compliance must be approved on time to ensure early training of staff to be able to bring them on the same pedestal or ahead of compliance trends. Frontline staff who come face-to-face with customers must be up to the task. Research has shown that when people are aware of what is expected of them, chances are that they will do the right things.

After poor or no communication and training the next obvious factor is poor monitoring. It is obvious in the sense that if staff are not communicated to or not trained on how to detect suspicious transaction, then they will not be able to do any meaningful monitoring.

A crucial element of a suspicious transaction detection program is monitoring transactions and activities. According to the Association of Certified Fraud Examiners’ (ACFE) 2014 Report to the Nations, monitoring accounts is one of the top three methods of detecting unusual transactions. Monitoring places a check on policies, procedures, records and actions, and highlights when they are not being followed, or when they need to be updated. Routine monitoring aids employees to continually improve their anti-money laundering framework. It also provides a significant deterrent effect.

When employees (or third parties) know they will be monitored, they are more likely to comply. In some instances, management of financial institutions do not lend their full support to Internal Audit, Compliance Department and supervisory units. This stems from the fact that some Management and senior staff of financial institutions do not have a full grasps of the compliance function and so in most cases they behave like antibodies that fight the system that protects them. Some Management and Senior staff of financial institutions see the activities, operations and logistics of Compliance and Internal Audit Departments as cost element to their balance sheets. Some do not give these supervising departments the needed attentions and action to enable them operate efficiently and effectively.

Beyond all the aforementioned, there must be the “will” on the part all employees of financial institution to report Suspicious Transactions. A financial institution can organise up-to-date training for employees regularly with state of the art logistics in place and working but if employees (top-down and down-top) lack the zeal to report then financial system can be compromised. A case in point is the recent revelation by the Financial Crimes Enforcement Network (FinCEN) which exposed $2 trillion in suspicious transactions through some major banks (Deutsche Bank, Bank of New York Mellon, Standard Chartered Bank, JP Morgan Chase, Barclays, HSBC Bank etc) and are roiling the world of finance. The situation becomes worse and murkier when efforts from the Regulator to get banks to report suspicious transaction are lax.

Way forward

Financial institutions can detect suspicious or unusual transactions through monitoring and customer due diligence of existing and new customers. Through proper due diligence at on-boarding and continuous monitoring on the part of financial institutions. Monitoring can be done through automation (AI-Artificial Intelligence) and manual means. It is ideal for financial institution to combine both and not stick to only one. Financial Institutions must develop or acquire automated monitoring tools to monitor all transactions aimed at detecting suspicious transactions.

Automated monitoring tools in the sense that, as volumes increase manual method of monitoring become ineffective. In addition, for an automated monitoring tool to be effective it has to be built around the parameters that make transactions suspicious in that way the system will be able to sniff out the suspicious transaction with an insignificant margin of error. Training of staff to be able to detect suspicious transactions is of great essence.

Staff may be at post with state of art equipment but without training all efforts will equal zero. Again through routine and spot checks by mandatory and supervisory units or departments like Compliance, Internal Audits etc. can bring to fore some of these unusual transactions.

Another important avenue of soliciting for suspicious transaction information is through “Whistleblowing or Tipoff”. Every financial institution must have a Whistleblowing Policy that seeks to unearth fraud, give first-hand information on suspicious transaction and protect the identity of the whistle blower(s) as much as possible. A statement signed by Mr Kwaku Dua, the Chief Executive Office of the Financial Intelligence Centre indicates “since establishment the FIC has instituted a number of measures geared towards improving Ghana’s Anti-Money laundering/ Combating the Financing of Terrorism (AML/CFT) regime. The Centre through the use of modern technology software (go-AML) has increased the filing of Suspicious Transactions Reports from reporting entities.

The Centre also has highly skilled and dedicated staff who through diverse ways continue to work effectively to address outstanding ML/TF related issues. These strides could not have been possible without the support of stakeholders such as the law enforcement agencies, regulators, reporting entities, private sector and designated non-financial businesses and professions (DNFBPs).” As of the time of writing this article the website of the FIC had a case count of 4,446 Suspicious Transaction Reports from financial institutions and still counting.

The suspicious transaction grid

Suspicious transactions can be divided broadly into two perspectives, that is to say customer identity/profile and customer activity/transaction. Either ways or both if defective can make a transaction suspicious or unusual. So when we say customer’s identity/profile (individual, entity, vessel) springs suspicion when that customer’s name is on any of the sanctioned list, adverse publication, convicted of a crime (ex-convict), politically exposed, foreigner etc. Customer banking activity can become suspicious by timing/frequency, amount (too small and too huge), patterns, no apparent or visible economic or lawful source/purpose of funds, location. That, which is inconsistent with a customer’s known legitimate business or personal activities or normal business for that type of account,

The Suspicious Transaction Grid has been designed by the author to aid or guide staff of financial institutions in classifying transactions. A quick description of the grid;

Good Transaction: there is consistency in customer’s identity as well as the customer’s banking activity. (Good Identity/Profile + Good Activity)
Suspicious Transaction: there is inconsistency in the customer’s banking activity as against a genuine customer identity. (Good Identity/Profile + Bad Activity)
Suspicious Transaction: the customer’s identity is inconsistent but the customer’s banking activity is genuine. (Bad Identity/Profile + Good Activity)
Suspicious Transaction: both customer identity and banking activity are all inconsistent. (Bad Identity/Profile + Bad Activity)

False-positive

In simple terms, a transaction is said to be falsely positive in money laundering when at a glance it looks suspicious of money laundering but an in-depth analysis reveals it to be genuine. A transaction can look suspicious when customer’s profile changes but the financial institution does not have such an update ahead of transactions. A typical example is when a customer opens an account at the time when he was a student. Many years along the line he graduates and he’s employed in firm that pays well or becomes a hyper-successful entrepreneur. Obviously, his income streams and patterns will change using the same account. If the customer’s profile (Know Your Customer-KYC) is not updated with the bank, the bank will always suspect the customer and his transactions hence generating a lot of false positives. Regular customer information update is an essential part of fighting money laundering and terrorist or secessionist financing.

Conclusion

Every fraud, money laundering or an attempt of either of them never happen without early warning. There are always signs that trigger suspicions but unfortunately, employees are largely not trained to detect or perhaps technology is not in place to detect for follow-up by Officials of banks.

Early detection of suspicious transactions is key in the fight against money laundering, counter-terrorist financing and the proliferation of weapon of mass destruction. All staff of financial institution must be equipped in all aspects of their work to be able to detect suspicious transaction. Automation (AI) must be employed to aid the detection of such transactions. Always identify and verify as well to be entirely convinced a transaction is genuine.

The author is a Researcher, a Governance and an Operational Risk Expert in Banking Operations. He has worked over a decade in various capacities in the banking industry. For enquiries on this article kindly contact the author through email: [email protected]

UK and Kenya to host major education summit in 2021

October 23, 2020

A landmark global education summit is set to take place in the UK in mid-2021. To be co-host by UK and Kenya, the summit would urge world leaders to invest in getting children into school and build back better from coronavirus. The summit will raise funds for the Global Partnership for Education.

Coronavirus has worsened the global education crisis, with 1.3 billion children – including 650 million girls – out of education at the peak of school closures.

In Ghana, school closures saw 9.2 million children temporarily out of school. Two million children across the country have returned to secondary school over the past few months, and KG and primary children are also expected to go back to school in January 2021. However, in Ghana and across the world experts warn that because of the prolonged period of school closure, many children may never return to school.

Missing out on education does long-term damage to individuals and communities, with girls particularly at risk. The benefits of schooling are transformative and multi-generational – a child whose mother can read is 50% more likely to live past the age of five and twice as likely to attend school themselves. However, globally adolescent girls and young women are three times more likely than young men to be out of school or work.

Since 2015, the UK has supported 15.6 million children, including 8 million girls, to gain a decent education. Last year alone, the UK invested £788 million directly in supporting global education. Now, the UK and Kenya will come together in 2021 to host a summit to lead global action on education.

Iain Walker British High Commissioner to Ghana said: “At the height of this pandemic more than 9 million children across Ghana, and more than 11 million children across the UK couldn’t attend school because of much-needed lockdown measures.

Now, as the world builds back better in the wake of COVID-19, we must re-focus our global efforts to make sure that every child receives a quality education at home or at school. It is right that the UK and Kenya will come together to host this global education summit next year, and I look forward to seeing Ghana among the key decision-makers attending this event.”

As well as promoting education for all, the summit aims to raise US$5 billion for the Global Partnership for Education (GPE), to help fund education in lower-income countries from 2021-2025. Since its creation in 2002, GPE has contributed to getting 160 million more children in school and doubling girls’ enrollment in the countries they work in.

This funding will help ensure that 175 million children can learn in 87 lower-income countries, including Ghana. In the future, this investment could add US$164 billion to economies, lift 18 million people out of poverty, and protect two million girls from early marriage.

Alice Albright, GPE CEO said: “GPE’s refinancing comes at a critical time. Confronted with growing inequality made worse by COVID-19, we need to shift gears and transform education systems if we want to deliver quality education for every girl and boy well into the future.

“We’re launching our most ambitious and urgent campaign yet, calling on world leaders to raise their hands and fund education. By refinancing GPE, leaders can send a clear message that the world is serious about creating a brighter future through education. We must seize this opportunity to make sure that no child is left behind – in Ghana or any other country in the world.”

The transformative benefits of education will be central to the summit. With domestic financing and additional support from UK aid, GPE, the World Bank and others, over the last 20 years Ghana has:

achieved universal primary education across the country
attained gender parity at every level
made secondary education free to all
supported out-of-school children to learn and transition to formal school

The UK-Ghana partnership has been central to this transformation. Since 2010, UK support to Ghana has helped more than 750,000 boys and girls to attend primary and secondary school, and over 2,500 Ghanaians to study in UK universities, gain degrees and develop their professional skills.

However, despite making great strides across the sector, the 2020 World Bank Human Capital Index indicates that although children are expected to attend school for 12 years in Ghana, they currently leave with the equivalent of only 6 years of learning. The UK is supporting Ghana to take forward its Education Strategic Plan 2018-2030, COVID-19 Education Response Plan and key reforms to improve inclusive and equitable access, teaching and learning for all girls and boys in the country.

Dr. Matthew Opoku Prempeh, Ghana’s Minister of Education said: “An educated population is a country’s most valuable resource for nation-building. In Ghana, we have pursued several reforms aimed at ensuring learning outcomes improve. GPE and the UK have been key partners in helping us invest in solutions to get all our children learning, and it has been an exciting journey so far.

We must use the GPE summit to make ambitious pledges to invest in quality education so our children and young people have the skills and knowledge to seize the opportunities of the 21st century. The challenges of the COVID-19 pandemic have taught us to be more innovative in the tools we employ to deliver teaching and learning, and this is one of the critical areas we are interested in.”

GPE is the only global partnership and fund dedicated to helping children in lower-income countries to get a quality education. The GPE replenishment summit will take place in the UK in mid-2021, and will convene key global players and decision-makers, with the aim of getting all children into school and learning.

Nestle appoints new Managing Director

October 23, 2020

Georgios Badaro, Business Executive Officer – Dairy Health & Nutrition Solutions, Nestlé Philippines has been appointed as the new Managing Director for Nestlé Ghana. This follows the recent appointment of Philomena Tan in Nestlé Headquarters in Switzerland as Global Category Leader, Dairy Children & Growth Solutions.

Georgios brings to Nestlé Ghana over 19 years of experience across several roles in the commercial field. He has worked at Nestlé Head Office in Switzerland and in several markets such as the Middle East based in Dubai, North East Africa Region based in Cairo, Qatar, Bahrain and in the Philippines based in Makati.

Commenting on his appointment, he said: “I am honored to be appointed as the Managing Director of Nestlé Ghana. It is a new challenge and an opportunity to work with incredible talents in Ghana to continue to help meet the daily nutritional needs of Ghanaians while living the Nestlé purpose of ‘unlocking the power of food to enhance the quality of life for everyone, today and for generations to come.”

Based in Accra, Georgios Badaro will be responsible for overseeing Nestlé’s businesses in Ghana, Liberia and Sierra Leone under the Central and West Africa Region of the company.

West Africa hard pressed to expand cocoa market share

October 23, 2020

Ghana and Ivory Coast account for two-thirds of the world’s cocoa supply, but unlike oil-producing countries, they are unable to influence prices that are historically too low to meet the basic needs of small planters.

“They could decide the market prices – above all if they allied themselves with other major producers like Ecuador, Cameroon and Nigeria; but there’s a lack of real political will,” an industry expert said on condition of anonymity.

Abidjan and Accra only began to work together seriously in 2019, when they obtained a living wage premium from cocoa and chocolate multinationals such as Nestle of US$400 (€341) per tonne of cacao beans.

The NGO Fairtrade promoted the ‘living income reference price’ on the basis of a study of the essential needs of planter households, plus a provision for emergencies, according to Fairtrade. It has been applied to the 2020-21 crop, which started this month.

The result should be an increase of more than 20 percent in the earnings of Ivorian planters, rising to 1,000 CFA francs (€1.52/US$1.66) per kilo.

For the first time in years, the neighbouring west African countries have matched their cocoa prices to halt a thriving traffic in cocoa beans between Ivory Coast with its 40 percent of the world market share, and Ghana in second place with more than 20 percent.

Market disconnect

“The decisions of Ivory Coast and Ghana count, but there is a slight overproduction of cocoa and the coronavirus crisis is reducing demand,” said Jonathan Parkman of the brokerage company Marex Spectron.

Parkman was not even sure whether the income premium would last beyond the current season.

The analyst noted that cocoa prices are speculative, as with certain other agricultural products, with prices partially disconnected from the real economy.

On the stock exchanges in London and New York, cocoa contracts for 30 times global production change hands each year.

The price has fluctuated between US$2,000 and US$3,000 per tonne for the past four years.

In real terms, cocoa prices are just half of what they were in the 1960s, and just a quarter of the peaks they hit in the mid-1970s — the apogee of the Ivorian ‘economic miracle’ — according to the World Bank.

The state of the market is a boon for buyers, but a curse for planters in tropical countries who receive only six percent of the US$100billion generated by the global cocoa and chocolate industry each year.

In public, multinational giants like Barry Callebaut and Mondelez show their support for the living wage premium – while consumers are pressing demands for a ‘more ethical’ cocoa trade.

“The coordination of Ivory Coast and Ghana is a very positive factor,” said Patrick Poirrier, chairman of French chocolate group Cemoi and president of a producers’ syndicate.

“It’s in their interest to expand their power to act on the market.”

Cocoa has no tap

Cocoa-producing nations face major obstacles; however, if they wish to exercise control over the market the same way as the Organisation of the Petroleum Exporting Countries (OPEC) has done for oil it’s going to be exceedingly difficult.

For starters, the amount of cocoa produced annually cannot be managed “like turning a tap on and off”, Poirrier said. “It’s difficult to ask a cocoa farmer, who makes a 20-year commitment when he plants a tree, to produce less”.

For two decades, the global crop has been in excess of demand one year in every two – to the benefit of buyers seeking to push prices down.

The lack of capacity to store cocoa, a fragile and perishable commodity, close to the site of the harvest adds difficulties near the very start of the supply chain.

Late in September, Ivory Coast announced the building of two storage warehouses with a total capacity of 300,000 tonnes at the ports of Abidjan and San Pedro.

To establish an OPEC equivalent for cocoa, all the producer countries should participate, said Philippe Fontayne, former chairman of the International Cocoa Organisation.

“But I’m very sceptical about their ability to agree on the rules of the game,” he said.

Some industry players have not forgotten the failure of the Alliance of Cocoa Producing Countries — formed in 1962 by Brazil, Cameroon, Ghana, Ivory Coast and Nigeria — to make any impact on the world market.

The Cocoa-Coffee Board, responsible for managing the twin sectors in Ivory Coast, declined to comment to AFP.

Credit: AFP

Our youth and the protests – looking beyond #EndSARS

October 23, 2020

The youth are not our enemies; let us remember this before we do anything rash such as using brute force to quell their protests. They are our children that have come of age. Their flaws are our failings as parents. All over the world, the youth have broken ranks with the earlier generation when they feel that their future is being mortgaged, mostly through excessive greed of the “elders”.

The wind of change has been blowing for quite a while. After the global financial crisis in 2008, there were the Occupy Wall Street protests in America. Occupy Wall Street (OWS) was a protest movement against economic inequality that began in Zuccotti Park, located in New York City’s Wall Street financial district, in September 2011. It gave rise to the wider Occupy movement in the United States and other countries.

Thereafter came the Extinction Rebellion, a global environmental movement with the stated aim of using non-violent civil disobedience to compel government action to avoid tipping points in the climate system, biodiversity loss, and the risk of social and ecological collapse. Young Greta Thunberg, a Swedish environmental activist gained international recognition as the face of the protests for promoting the view that humanity is facing an existential crisis arising from climate change.

Quite recently, there were the Black Lives Matter protests which started in America and gained momentum, after a white policeman brutally murdered a black man, George Floyd, by kneeling on his neck for 8 minutes and 46 seconds. The #BlackLivesMatter movement is a Global Network that builds power to bring justice, healing, and freedom to Black people across the globe.

The Arab Spring, closer to home is indelibly etched in our minds. It was sparked by the first protests that occurred in Tunisia on 18 December 2010 in Sidi Bouzid, following Mohamed Bouazizi’s self-immolation in protest of Police Corruption and ill-treatment. It escalated into a series of anti-government protests, uprisings, and armed rebellions that spread across much of the Arab World in the early 2010s.

The past two years have indeed been years of discontent, with protests demanding the removal of corrupt governments, better living standards, greater freedoms and more rights, toppling leaders from Bolivia to Sudan, with the latest being the forced resignation of the President of Kyrgyzstan after weeks of mass protests. The leaders of Bolivia, Algeria, Lebanon, Iraq and Sudan have been pushed out as a consequence. Youth Protests across the world aiming to take back their future is like a moving train. Stand in front of it and it will crush you. Remain on the platform and it will leave you behind, or you can hop on it for a ride into a future of social justice and good governance.

Truth be told Nigeria’s case is not very different, even though in fairness, it did not start with this regime. It is an endemic problem that has assumed exponential proportions. SARS (Special Anti-Robbery Squad) and the injustice they perpetuate with characteristic impunity is a microcosm of the Nigerian situation.

In June 2018, CNN announced that Nigeria had overtaken India as the country with the largest number of people living in extreme poverty, with an estimated 87 million Nigerians, or around half of the country’s population, thought to be living on less than US$1.90 a day. Data from the National Bureau of Statistics reveals that Nigeria’s unemployment rate as at the second quarter of 2020 was 27.1%, indicating that about 21.7 million Nigerians remain unemployed. The data also reveals that the worst-hit are Nigerian Youths (between the ages of 15 and 25 years) with over 13.9 million currently unemployed.

With the largest economy in Africa (GDP of US$447 billion in 2019 compared to South Africa US$359 billion and Egypt US$303 billion), and despite her abundant natural resources and huge revenue from oil and gas exports of US$32.6 billion in 2018 (according to eiti.org) it seems that Nigeria is experiencing growth without shared prosperity. The gap between the rich and poor is ever increasing, as is the gap between the “in Crowd” and those left behind.

Treasury looting and stashing hoards abroad has not helped the deficit in infrastructure and the enabling environment for creating Jobs.

According to TRT World, every year, Africa loses more than US$88 billion due to illicit capital flight, amounting to 3.7 percent of the continent’s GDP of US$2.6 trillion. Our youth are forced to take to immigration – legal and illegal, sometimes risking dangerous trails in the Sahara Desert and across the Mediterranean Sea in rickety rafts in pursuit of survival. Nigeria has been a “country of huge potential” since independence 60 years ago. When will this giant wake up from her slumber?

It is good that our youth have found Purpose behind a common goal. The strategy, conduct and prosecution of the peaceful protests has so far been remarkable. Unlike previous ones, this Youth Movement has not been punctured by tribalism, religion nor compromised by “leaders”. The youth have stood as one, behind a vision of a better country with shared prosperity and social justice.

The youth have finally proved that they are not lazy, clueless and entitled. To buttress this, PayStack, a Fintech company founded in 2016 by Nigerian Youths Shola Akinlade and Ezra Olubi has been acquired by global fintech giant Stripe, in the biggest M&A deal in Nigerian corporate history.

Just recently, Interswitch, another Youthful Nigerian Company reached unicorn status after Visa acquired a minority equity stake in the firm, making her one of the most valuable African fintech businesses with a valuation of US$1 billion,”. CWG Plc’s significant contribution to Financial Inclusion is another example.

Diamond bank (now acquired by Access Bank) with 7m customer accounts after 23 years was able to add an additional 6m customers, mostly from the Bottom of the Pyramid in just one year after the launch of the Diamond Yello Account, Powered by CWG and MTN.

It is about time that the youth invite themselves to the political table because it is about their future. It is imperative to get involved in politics right from the grassroots, where the impact is most felt. It is through such initiatives that we can ensure quality and inclusive education and healthcare for the masses while creating an enabling environment to attract businesses and create jobs. It is from here that they can ensure that the voice of democracy rings out loud throughout the land (and not one political godfather installing his stooges and milking the state treasury). #EndSARS was just a catalyst, it is imperative to now look #BeyondEndSARS and focus on the broader goals of social justice and equity.

The Youth have drunk deep of this cup of knowledge and empowerment, and there is no turning back. Even though the protests end in the streets, they will be carried deep in their hearts. This movement is by no means to a destination but rather a journey of sustainable nation-building.

They will begin to ensure that the demand side of governance is deeply entrenched and that the voice of democracy will always be heard loud and clear at every ballot. Gone will be the days when they were used as thugs during elections and dumped soon after, and the days when they disenfranchised themselves from apathy to the pollical process and the attendant requirement of probity from elected officials. This is just the beginning; the best of the Nigerian Youth is yet to come – Finally, there is hope for our dear country.

>>>The writer is the Founder of CWG Plc, the largest security in the technology sector of the Nigerian Stock Exchange, and Entrepreneur-in-Residence at CBS, New York. Austin also serves on the Advisory Board of the Global Business School Network based in Washington, and on the World Economic Forum Global Agenda Council on Innovation and Intrapreneurship. Austin is a Non-Executive Director at Globus Bank and serves on the Board of Trustees of the Risk Management Association of Nigeria (RIMAN). Austin now runs the Ausso Leadership Academy focused on Business and Entrepreneurial Mentorship.

GIADEC not conforming to transparency and environmental standards

October 22, 2020

His Excellency the President of Ghana, Nana Addo Dankwa Akofu-Addo and the Ghana Integrated Aluminium Development Corporation (GIADEC) have made claims intending to show how plans to mine Atewa Forest for bauxite abide by Ghana’s laws and international best practices for protecting the environment and people’s rights. Notwithstanding these assertions, current evidence and available information suggest clear failures in meeting these commitments, while certain claims remain unsubstantiated.

Disregard for Sensitive Ecological Areas providing critical ecosystem services for Ghana

GIADEC claims it will adhere to the highest international best practices on responsible and sustainable mining of bauxite. However, the decision to target an ecologically sensitive watershed like Atewa Forest is against the tenets of international best practice to start with and not in any way sustainable or responsible. The Akyem Abuakwa Traditional Council in 2012, averred that the Atewa Forest is the right lung of Ghana. This forest still remains the hydrological and biodiversity gem of Ghana and any plans to turn it into a mine pit can never be responsible or sustainable.

Initiating a key extractive industry without a SEA, contrary to national best practice.

Local communities, civil society organisations and international NGOs have made repeated calls for the government to undertake a Strategic Environmental Assessment (SEA) of the whole aluminium development project. The bauxite mining agenda is going to be one of the most destructive ventures targeting Ghana’s most sensitive and invaluable habitats and ecosystems services. Unfortunately, all indications confirm that the SEA for Ghana’s Integrated Aluminium Development Agenda will never happen.

Consistently misinforming the public about the availability of an Environmental Impact Assessment.

GIADEC has stated several times over the past 18 months that it is about to conduct an Environmental Impact Assessment (EIA) through Ghana’s Environmental Protection Agency (EPA), but still, no EIA has taken place. On the 21st of June 2019, the Minister for Lands for Natural Resource Management declared in the media that an EIA already exists for Atewa. Furthermore, Stage 3 of the Convention on Biological Diversity’s (CBD) EIA process is an “Assessment and evaluation … to predict and identify the likely environmental impacts of a proposed project or development, including the detailed elaboration of alternatives” and stage 6 is for “Decision-making on whether to approve the project or not”, making it clear that the EIA must come before any decision is made on a proposed project. The ‘development of alternatives’ will be very critical, and we will bring ideas to contribute to this if invited to do so.

4. Conducting prospecting in a sensitive environmental area without an EIA contrary to regulations 1652 of the EPA

On 7 October, the Chief Executive Officer of GIADEC confirmed that the ‘mineral resource estimate’ has already been undertaken in the Atewa Forest, which is BEFORE any EIA has been undertaken. This work included clearing forest patches and drilling 53 exploration boreholes. This is despite Ghana’s Regulation 1652 of the EPA that requires an EIA prior to any prospecting activities in sensitive environmental areas. Regulation 3 of Ghana’s Environmental Assessment Regulations (1999) mandates an EIA for “conversion of hill forest land to other land use”. GIADEC is cutting corners by flouting Ghana’s regulations in its haste to mine the Atewa Forest, a place they agree is sensitive for water services and biodiversity.

Non-compliance with Ghana’s laws on exploration and mining in protected forest reserves

The proposed bauxite mining in Atewa Forest is targeted at locations that are legally protected from mining due to its status as a Protected Forest Reserve. This means that prospecting for minerals in protected forests is also prohibited according to the Environmental Guidelines in Mining in Production Forests. GIADEC’s plans are disrespecting all existing guidelines on mining in production reserves in this country.

Elite Capture from day one and refusal to engage public on Bauxite development agenda.

GIADEC’s community consultations have only included elite individuals and handpicked groups in violation of community rights. The Aluminium Stewardship Initiative’s (ASI) Performance Standard that GIADEC is claiming compliance with requires GIADEC to openly consult affected communities “to obtain their free prior and informed consent to the approval of any project affecting their lands or territories and other resources’. Despite this, consultations have been restrictive. Evidence from the forest communities confirms that GIADEC’s 7 October 2020 engagement at Asiakwa for the GIADEC committee’s inauguration did not give any opportunities for community members to ask questions and that the committee members were not voted in by the community. Instead, they were handpicked to include elite state institutions who do not necessarily represent the interest of the communities.

There is still no sustainable technology for mining bauxite without destroying the forest

Ghana’s President and GIADEC as always state the proposed bauxite mining will use sustainable and responsible mining practices but still have not said what these are. GIADEC’s CEO suggested there are examples of best practices where forest reserves have been mined and rehabilitated and that GIADEC would draw on those to minimise environmental and social impacts. He then identified strip-mining ‘to reduce noise, dust, and the mining footprint’. In fact, strip mining is the only technique available for mining Ghana’s bauxite due to its closeness to the surface, but it does not reduce dust or minimise the mining footprint. We are not aware that any sustainable technologies for bauxite mining exist for mining Atewa’s bauxite.

GIADEC not committed to any international best practice of Responsible bauxite mining.

Throughout 2019 and 2020, GIADEC has stated its commitment to responsible mining and best practice world standards. but has never publicly confirmed which standards it is committing to. On its website, it states “The development of the aluminium industry in Ghana will be in compliance with the Aluminium Stewardship Initiative and its standards”. However, GIADEC has already displayed non-compliance. The statement on the website also suggests it will comply in the future but, with so much work already completed, it should have been complying long ago. This failure is why communities’ rights are being ignored, transparency is being undermined, and Ghana’s laws and international standards are already being flouted.

GIADEC not truthful about the impact of bauxite mining on forest integrity and water resources.

GIADEC has not been open about the real impacts bauxite mining will have on the area. These include removal of trees that provide ecosystem services such as mitigating climate change, protecting land from erosion, and providing the many resources that communities rely on for their livelihoods and subsistence; pollution of the clean water sources that 5 million Ghanaians rely on every day; and that bauxite mining will result in toxic dust that causes respiratory diseases and poison water sources, affecting communities living downstream and depending on small rivers and streams from the forests.

Concluding on a Green and Sustainable Option

To conclude, GIADEC can make the Ghana Integrated Aluminium development agenda responsible and sustainable by respecting the ecological and hydrological sensitive nature of Atewa Forest and staying away. Opportunity for a green development focus will be to exchange the bauxite security of the Sinohydro deal with a carbon and ecosystem services as security, and secure green investments through green bonds from several partners including China, to support the alternate aluminium industry in Nyinahin while securing Atewa and further developing green businesses that are compatible and enhance the ecosystem services of water provisioning and biodiversity conservation as well as climate amelioration. Atewa Forest remains the right lung of Ghana. We must do whatever it takes to save it, rather than turning it into a mine pit.

Global action urgently needed to halt historic threats to poverty reduction

October 22, 2020

411202094440-ptkwo0a442-slum-areas-ghana — Credit: modernghana.com

For almost 25 years, extreme poverty was steadily declining. Now, for the first time in a generation, the quest to end poverty has suffered its worst setback. This setback is largely due to major challenges — COVID 19, conflict, and climate change — facing all countries, but in particular those with large poor populations.

The increase in extreme poverty from 2019 to 2020 is projected to be larger than any time since the World Bank started tracking poverty globally in a consistent manner. While COVID-19 is a new obstacle, conflicts and climate change have been increasing extreme poverty for years in parts of the world.

Communities, countries and continents are facing these daunting challenges. A new World Bank report — Poverty and Shared Prosperity 2020: Reversals of Fortune — sheds new light on the threats to poverty reduction and provides recommendations to navigate this tough terrain.

The number of extremely poor people has fallen dramatically from 1.9 billion in 1990 to 689 million in 2017. Global extreme poverty dropped by an average of 1 percentage point per year between 1990 and 2015, but it fell by less than half a percentage point per year between 2015 and 2017.

The main causes of this slowdown have been apparent for some time, but their effects have now been amplified by COVID-19.

More than 40 percent of the poor live in conflict-affected countries. The poorest people suffer the most from violent conflict. It destroys their livelihoods while discouraging further investment in their communities. For instance, the extreme poverty rates nearly doubled between 2015 and 2018 in the Middle East and North Africa, spurred by the conflicts in Syria and Yemen.

In its most extreme form, violence can lead to wars that destroy lives, households, assets, and natural resources, leaving a legacy from which it can take years to recover.

Climate change is also an ongoing threat to poverty reduction, and it will intensify in coming years. New analyses for this report estimate that climate change will drive 68 million to 135 million into poverty by 2030. Climate change is a particularly grave threat for countries of Sub-Saharan Africa and South Asia — the regions where most of the global poor are concentrated. The impacts of climate change can also include higher food prices, deteriorating health conditions, and exposure to disasters, such as floods, that affect both the poor and the general population.

Especially for the poorest small countries, climate change is perhaps the most vexing challenge, and the problem is not of those countries’ making. Human-induced rises in global temperatures and sea levels are almost entirely a product of levels of energy use by high-income nations and large, rapidly growing middle-income countries.

While violent conflicts and climate change have been threatening poverty reduction for years, COVID-19 is the newest, and the most immediate threat.  

The impact of COVID-19 on poverty reduction will be swift and substantial. In 2020 alone, this pandemic could drastically increase the number of people living in extreme poverty by 88 million to 115 million. The novel virus is disrupting everything from daily lives to international trade. The poorest are enduring the highest incidence of the disease and suffering the highest death rates worldwide

COVID-driven poverty is making inroads in populations that had been relatively spared. The new poor are likely to be more urban and educated than the chronic poor, more engaged in informal services and manufacturing and less in agriculture. Middle-income countries such as India and Nigeria may be home to 75 percent of the new poor.

COVID-19, conflict and climate change will exact enormous human and economic costs. The Poverty and Shared Prosperity 2020 report show that the goal of bringing the global extreme poverty rate under 3 percent by 2030, already at risk before COVID-19 emerged, is now beyond reach without swift, significant, and substantial policy action.

The current moment of crisis is extraordinary. No prior disease has become a global threat so quickly as COVID-19. Never have the world’s poorest people resided so disproportionately in conflict-affected territories and countries. Changes in global weather patterns induced by human activity are unprecedented.

How the world responds to these major challenges today will have a direct bearing on whether the current reversals in global poverty reduction can be turned around. The immediate highest priorities everywhere must be saving lives and restoring livelihoods. Some of the policies needed to achieve this are already in place, such as social protection systems. For example, efforts are well underway in Brazil and Indonesia to expand existing cash transfer programs.

While addressing COVID-19 is crucial, countries should continue to enact solutions to the ongoing obstacles to poverty reduction. The Poverty and Shared Prosperity 2020 report provide recommendations for a complementary two-track approach: responding effectively to the urgent crisis in the short run while continuing to focus on foundational development problems, including conflict and climate change.

Closing the gaps between policy aspiration and attainment

Too often there is a wide gap between policies as articulated and their attainment in practice, and thus between what citizens rightfully expect and what they experience daily.

Policy aspirations can be laudable, but there is likely to be considerable variation in the extent to which they can be realized, and which groups benefit from them. For example, at the local level, those who have the least influence in a community might not be able to access basic services. At the global level, political economy concerns will be reflected in the extent to which rich and poor nations get access to finite global supplies of medical equipment. It is critical to forge implementation strategies that can rapidly and flexibly respond to close the gaps.

Enhancing learning, improving data

Much about the novel coronavirus remains unknown. The speed and scale with which it has affected the world has overwhelmed response systems in rich and poor countries alike. Innovative responses often come from communities and firms, which may have a better sense of the problems that should be prioritized and may enjoy greater local legitimacy to convey and enforce difficult decisions such as stay-at-home requirements. The faster everyone learns from each other, the more useful it will be.

The Republic of Korea’s widely applauded response to COVID-19, for example, has been attributed in part to intentional efforts to learn from its “painful experience” when responding to the Middle East Respiratory Syndrome coronavirus in 2015.

Investing in preparedness and prevention

“Pay now or pay later” may be a cliché, but in the current moment the world is surely learning this lesson again, the hard way. Prevention measures often have low political pay-off, with little credit given for disasters averted. Over time, populations with no lived experience of calamity can become complacent, presuming that such risks have been eliminated or can readily be addressed if they happen.

COVID-19, together with climate change and enduring conflicts, is reminding us of the importance of investing in preparedness and prevention measures comprehensively and proactively.

Expanding cooperation and coordination

Contributing to and maintaining public goods requires extensive cooperation and coordination. This is crucial for promoting widespread learning and improving the data-driven foundations of policymaking, and for forming a sense of shared solidarity during crises and ensuring that the difficult policy choices by officials are both trusted and trustworthy.

Finally, effective responses must begin by recognizing what makes these challenges not just different and difficult, but so consequential for the poor. Failure to act comprehensively and urgently will create even bigger challenges in the future. As important as it is to address these shocks currently, there must be relentless focus on the ongoing development agenda of promoting inclusive growth, investing in human capital and productive assets, and protecting them if countries are to sustain poverty reduction.

But reversing even a massive reversal of fortune, such as we are seeing with COVID-19, is necessary and possible. It has been done in the past, in the face of what were regarded at the time as insurmountable challenges – eradicating smallpox, ending World War II, closing the ozone hole – and it will be done again in the future.

The world must commit urgently to working together, and to working better – now especially, and for the long term.

Can Ghana afford it?

October 22, 2020

An open letter to the Minister for Finance and Economic Planning

Can we afford a Ghana with: no bad roads; decent homes for the working class; free quality tertiary education; an efficient, free national health care system; clean cities; decentralised infrastructure; full employment; a social safety net for the vulnerable etc.? And this is not about politics, just a rethink of the economics we have always known.

25 years ago, our country started on a national vision 2020 development agenda to deliver a Ghana with a balanced economy, middle-income country status, and a standard of living and level of development close to the present level of development seen in Singapore. We soon woke up to the news of 2020s’ arrival – and, oh, did it come with baggage; a global pandemic that shook the world and claimed the lives of many; and Ghana became a lower-middle-income West African country with a debt to GDP ratio that soared to about 63% as a macroeconomic response. Well, along with the rest of the world, our country has come far.

Today we may have progressed from where we started, but we are nowhere near where we should be. This may be attributable to a myriad of factors. Key among the many is the fact that we just cannot seem to generate enough by ourselves to fund the level of national development we aspire to. Our development budget is constrained by how much tax we collect and, ostensibly, how much the west is willing to lend to us. But what if these constraints are somewhat self-imposed?

Currently, governments are likened to households which need to earn income (mostly through taxes) for expenditure. And just like households, governments are to take on debt to make up for their budget deficits when they cannot generate the required income through taxes. When debt rates get too high, the debt alarm starts to beep and sounds danger for the economy.

But is a sovereign government really like a household? A government can issue its own money; households cannot. A sovereign government is not like a household and does not need to raise taxes or borrow to spend the money it can create all on its own. Hence, the question of constraint is no longer about whether we have the money for development, it is rather about how much and what kind of development we can spend on such that inflation and currency depreciation stay under control. This, in essence, is at the core of Modern Monetary Theory.

What is the Modern Monetary Theory (MMT)?

MMT’s fundamental argument is: a sovereign government that issues its own currency and debt in its own currency, and does not practice a fixed exchange rate system, can spend as much as its economy needs and never go broke, run out of money, or default on its obligations.

The theory hinges on 3 main arguments:

The government must spend before it can collect taxes.
The government is an interest rate setter and not a taker.
Fiscal policy tools have a greater monetary impact than current monetary policy tools.

These arguments give us further understanding of the true essence of taxes and government borrowing as follows:

Tax is a fiscal tool to control inflation as it creates demand for the government’s currency. Taxes are a legal obligation and can only be settled in the government’s currency.
Government borrowing can also be a fiscal tool used to create demand for its own currency. Thus, the issues of budget deficit or surplus are in themselves near meaningless to a sovereign government.

According to trading economics, as of Dec 2019, Japan has a deficit of about 237% of GDP, Singapore 126%, USA 107%, France 98.1%, Egypt 90%, Canada 89.7%, UK 80.7%. Barbados 149%, Australia 124% …the list goes on and on. Ghana is at 63%, and who else has less? Afghanistan 7.1%, Palestine 16.2%, Guatemala 27.8% Nigeria 17.5%, Burundi 13.6%, Burkina Faso 22.6%, Venezuela 23%, Liberia 32%. Why are the economies with the least debt to GDP ratios not necessarily the most robust?

The theory, formerly Mosler Economics, was founded and is continuously developed by Warren Mosler – a 40-year veteran of monetary economics and monetary operations. Currently, it is an economic school of thought with strong proponents like professor of Economics at Bard College USA, Dr. L Randall Wray; Prof. Bill Mitchell, Economics professor at the University of Newcastle, Australia; and Dr. Stephanie Kelton, a professor of Economics and Public Policy at Stony Brook University who served as chief economist in the US Senate budget committee and as the Chief Economic Advisor for the 2016 Bernie Sanders presidential campaign.

The fundamental elements of the Modern Monetary Theory, which subsequently inspired post-Keynesian economics, Alfred Mitchell-Innes’ credit theory of money desribes how current monetary operations work in many central banks, and may not be particularly novel. However, the conclusions it reaches about how economies work today are definitely ‘modern’ to many.

MMT’s ideal economy

The most ideal situation for the MMT may probably be the USA. A sovereign nation, issues its own currency, and issues debt only in USD – which is also the largest reserve currency of the world. The USA – much like other developed economies Japan, Canada, Australia – can never go broke no matter how large its debt to GDP ratio is, as long as it continues to meet the conditions outlined by the MMT. Contrary to what Obama said in 2009, the USA will never run out of money under these circumstances. Whether the USA knows it or not, they can issue their currency and spend as much on whatever development agenda they deem fit and never go broke.

Strawman arguments are made by citing developed nations such as Greece and Italy which defaulted on their debt obligations after ‘excessively’ borrowing. The simple clap back is: Greece and Italy do not issue their own currency. Much like other Eurozone states, they gave up their sovereign currencies (the Drachma and the Lira) for the regional Euro issued by the European Central Bank (ECB). This meant that their supply of money (the Euro) was limited by the ‘generosity’ of the ECB.

This situation is well understood by MMT proponents. An appreciation of the policy space and options MMT can afford a nation will leave you with no surprises as to why Scandinavian Europe – one of the most developed and socially equitable regions in the world – had Sweden, Denmark and Finland as part of the EU maintain the sovereignty of their currencies. Norway and Iceland, on the other hand, opted out of the Eurozone completely. The UK which has since left the EU also kept the sovereignty of their currency during their time there.

MMT in developing economies

We can agree that traditional economic theories propounded by the West are designed to the structure of western society at the time the propositions were made. These mainstream economic theories underpin the way managers of most developing economies view their economies and the kind of economic policy options they believe are available to them today. While there is no doubt that the current state of developing economies includes serious self-imposed obstacles, albeit some more so than others, developing nations can, in any case, customise MMT’s understanding and insights to their peculiarities.

Prior to discussing what welcoming this economic school of thought means for Ghana, let’s first give some context to the issues of hyperinflation in Zimbabwe and Venezuela as they have been used to misrepresent the substance of this theory. Firstly, even though the governments of these countries are known to have resorted to ‘printing’ cash to spend, their economics was not what an MMT proponent would recommend.

Secondly, these two countries deal with distinct problems that Ghana does not have. Zimbabwe was slapped with trade sanctions, coupled with significantly lower levels of productivity that characterised the aftermath of redistributing farmlands from white owners to Black Zimbabweans. This hurt the productive capacity of their economy and their ability to accumulate foreign exchange reserves they were using to support their currency.

In the case of Venezuela, oil accounts for 95% of its export revenue. Thus, a plummet in oil prices as we have seen in recent times resulted in a huge fall in their foreign currency reserves – resulting in political chaos and policy that exacerbated the depreciation of their currency, causing hyperinflation and a shortage of essential goods that they do not produce locally.

What the MMT reveals about Ghana’s economy

We have more fiscal space to pursue development than we know, contrary to what traditional economics has taught us.
Interest rates on the cedi are not simply determined by demand and supply of the market. And that by understanding government has a monopoly over the issuing of the cedi, it is an interest rate ‘setter’ and not the ‘taker’.
That debt to GDP ratio is a measure of the money supply, which is not an end in itself; and that budget deficit ceilings are a self-imposed constraint, whose essence is to aid in keeping inflation and currency depreciation within manageable levels. In any case, history and current examples have shown us that a large budget deficit does not necessarily translate to high levels of inflation and currency depreciation. Thus, the ‘how do we pay for it?’ question does not matter as much as the ‘what are we paying for?’

Does this mean Ghana is not as broke as we believe we are?

Yes – we are not broke! We may be able to afford more economically strategic government spending than we know, without necessarily borrowing at a cost. For example, we do not need to use foreign exchange income from oil exports or borrow long at high-interest rates against our tax receipts to fund most parts of our current social interventions such as the Free SHS and NHIS – since the majority of these obligations are cedi-denominated and can be funded by ‘printing the money’.

Does this mean the Government of Ghana should print cedis and spend on whatever they deem fit with no economic repercussions?

Of course not. The wrong type and level of spending can ultimately result in hyperinflation. Imposing the wrong type and level of tax obligation will not create the necessary demand for the cedi to keep inflation under control. Also, increasing our debt obligations in foreign currency while spending locally can threaten higher than normal levels of currency depreciation.

Ghana…where do we begin?

Along the way as a country, we have accumulated a pile of foreign-denominated debt which has to be serviced with foreign currency. That, coupled with our skewed dependence on imported goods and services, obliges us to increase our forex reserves to protect the cedi’s value and position with the major trading currencies. So yes, while we are not as broke as we think, we have significant obstacles to overcome if we are to fully utilise the opportunities we have as a nation with a sovereign currency.

Ghana is estimated to have spent GH¢3.6billion – approx. US$600million – of our oil revenue on free SHS; US$600million that could have otherwise gone into other developmental projects that require the importation of capital goods and services, or been saved in our national reserve account to support our currency.

Free SHS is an obligation that is largely cedi-denominated and should not cost us forex to finance. Other national obligations that will not require long and/expensive borrowing to finance are public sector salaries, NHIS claims, GetFund-related debts etc.

Again, the majority of these obligations do not require forex to settle, thus very cheap borrowing or zero expense borrowing (BoG crediting bank reserve accounts) should be used to settle them. This will free the forex income we make from exports to be deployed toward projects that increase the productive capacity of the economy (local industries, transport infrastructure, new technology etc.)

We can start by re-purposing our forex reserves; spend cedis for cedi-denominated projects and reserve forex for foreign currency-denominated obligations. With that said, in the not too distant future we should have budgetary space to, among other solutions, assiduously employ our real resources to increase our productive capacity to reduce our over-dependence on imports and the cyclical externalisation of dollars.

Over time, we will be better-positioned to take more control of the cedi; put more of it into Ghanaian pockets; and drive our own development with little interruption from our foreign lenders.

In conclusion, the Modern Monetary Theory puts more policy options on the table. Options which hitherto were not imagined feasible. Additionally, it reasons us to re-orient our understanding of the term “the size of the public purse”, as not being how much money (revenue mobilisation constraint) we have as a country to spend on development.

Instead, we come to know that it is how big the purse (economy’s real resources and productive capacity constraint) is, to hold the unlimited amount of cash (government spending & economic growth) such that the purse (economy) does not fall apart (uncontrollable levels of depreciation & inflation).

The “government is like a household” metaphorical understanding of monetary economics may have cost us far more than just creating public alarm about our rising debt.

It has cost us and probably will continue to cost us the ability to make bigger strides toward national development, the ability to keep our growing youthful population skilled and gainfully employed, the ability to sustainably reduce the housing and transport infrastructure deficit, the ability to provide quality affordable healthcare and education for our people, the ability to invest into research and development, and the ability to give Ghanaians a dignified life.

Co-authored by: Papa Sam Blankson, MSc. Economics

(Money, Banking & Finance)/ over 8-years Combined Experience in Banking & Asset Management

Anita Yankey, MSc. Finance/ BSc. Economics & Finance/ over 8-years combined experience in Asset Management and Corporate Communication.

Corresponding Author: Papa Sam Blankson / 0244928624/ [email protected]

Are virtual events a threat to the conference tourism? ( 1)

October 22, 2020

The new normal is bringing a lot of changes into our society and the way things are done. Change is inevitable and no society has remained static. I remember attending a symposium addressed by Professor Nii Quaynor. He said some twenty years ago, when he pioneered the establishment of the internet in Ghana, many people never believed we will be where we are today. The good old professor is known as “Africa’s father of the internet. He has been at the forefront of web development across Africa. Through his great works today, he has become the first African to be elected to the board of ICANN, the internet corporation for assigned names and numbers. He’s also played an important part in launching the African Network Operators Group and AfriNIC, the African Internet numbers registry. He has also been inducted into the Internet Hall of Fame, lauded as an instrumental figure “in the early design and development of the internet.”

Thanks to the good work of the Professor we are enjoying the internet and all the benefits it brings to our lives and business. What’s app today is a well-known app in Ghana used by many to connect with friends, colleagues and business partners. This is one of the many apps that are downloaded and used through the internet. The revolution has been enormous and as predicted, technology is going to ensure many jobs and busineses are cut out of the system. With the 5th generation mobile network, 5G enables a new kind of network that is designed to connect virtually everyone and everything together including machines, objects, and devices. 5G wireless technology is meant to deliver higher multi-Gbps peak data speeds, ultra-low latency, more reliability, massive network capacity, increased availability, and a more uniform user experience to more users. Higher performance and improved efficiency empower new user experiences and connect new industries.

Last week I joined a virtual meeting organized by the Ghana Mission in the UK. I must say it was a very well organised meeting and even though I couldn’t see the number of participants online, I still believe it was well patronized. I was due to attend a convention in the US but due to the COVID-19 pandemic, it was held virtually and was a great success. Nowadays, plenty of business is done virtually. Our historic mindset around conferences is that we board a plane to a conference, bring our business cards, and prepare ourselves for a week of keynote speakers, breakout sessions, and networking events that enable us to spread the word about our own products and services while collaborating with other marketers who might have useful tools or suggestions of their own.

We all have been used to physical meetings and interactions, however in recent time since the advent of the COVID-19, many meetings are being held virtually which could be a bid threat to conference tourism which has been held physically in the near past. Participants had to purchase tickets, book accommodation and after the conference mostly partake in some tours. However, with virtual conference gaining grounds, many participants may not eventually travel and that could post a big threat to hoteliers. Let us not think this cannot be and believe that, when COVID-19 is no more, everything will return to normal. Some things have become the new normal and will remain as such. Just as the internet revolution was deemed not to be possible some twenty years back, it has happened and is changing our lives today. The earlier hoteliers begin planning and diversifying their investments, the better it will be for them.

What are virtual Events

Virtual events, in its simplest definition, are events held online. Virtual events use web-based platforms to connect dozens to thousands of attendees from across the globe and often include interactive engagement features such as polling, Q&A, chat boxes, etc. Some of the top virtual event providers include Digitell, Evia, Intrado, ON24, Zoom, GoToMeeting and more. In 2020, there will likely be a rise of virtual conferences.

Virtual Conference Benefits

There are plenty of major benefits to hosting a virtual conference. For one, it can lower the price of admission, enabling smaller businesses with limited budgets to purchase tickets to your conference and offer their own unique insights. It also lowers the cost your business would have to pay for conference space, on-hand staff, catering, security, and much more. Additionally, it allows people from across the globe to interact with each other without needing to spend exorbitant amounts on flights and hotels. Imagine how much easier it is for marketers from India, Ireland, Australia, and the U.S. to collaborate virtually, rather than trying to gather in-person. It also may help you attract high-demand speakers who don’t have the time to commit to an in-person conference but are happy to share industry takeaways via a quick video call or pre-recorded presentation. Additionally, an online conference enables you to create a product — recordings from your conference — that you can continue to share and use as a lead generation tool for months and years after the initial live launch. And, finally, there’s the obvious: sometimes unforeseen circumstances can make in-person conferences in certain locations simply impossible. Emily Raleigh, HubSpot’s Marketing Manager of Brand and Strategic Partnerships, provides some advice if you suddenly find yourself shifting your in-person event to a virtual one: “If you are shifting from a live event, try to add extra value to the viewers who are now tuning in online. Do an extra session. Offer more Q&A time. Give an extra special offer. Find creative ways to add extra delight moments.” Additionally, Raleigh mentions, “Virtual events can easily lose one of the best benefits of live events: human connection. To mitigate that, keep the event engaging and get the audience involved.” Indisputably one of the greatest beneficiaries of the online migration of conferences has been the environment. A recent review estimated that the amount of carbon dioxide generated by each researcher through conference travel ranges from 0.5 to 2 metric tons. Staggeringly, the total carbon footprint of the world’s estimated 7.8 million researchers each traveling to one conference a year is equivalent to that of some small nations. In contrast, organizers of two fully virtual conferences in the U.S. estimated that their total carbon emissions were less than 1 percent of a traditional “fly-in” event.

Leveling the Field

Relocating conferences online has also made them accessible to a larger and more diverse audience. Traveling and prolonged home absence have long raised problems for people with children or disabilities. Similarly, financial and visa restrictions prevent many from economically disadvantaged backgrounds and specific countries from attending international meetings. Removing these barriers associated with travel has instantly rendered many conferences more inclusive. While the 2019 European Geosciences Union (EGU) General Assembly in Vienna attracted just over 16,200 participants, the online 2020 General Assembly registered over 26,000 individual users. Since virtual conferences scale much better than in-person counterparts, it has been relatively easy to accommodate all these extra attendees.

To kindle social interactions amongst participants scattered across continents and time zones, conferences are bringing new apps into play. “Braindate” and “Brella” match profiles uploaded by attendees and suggest private video conferences to discuss shared interests. Such matchmaking apps not only reintroduce the networking opportunities sought by conferencegoers but may even lower the barrier for more introverted or junior members to reach out to the superstars in their field. Other conference organizers have been using the ability of online platforms to randomly split participants into groups to foster more mixing, rather than watching attendees automatically gravitate towards renowned names.

Behind the Scenes

Conference moderators are also finding other silver linings to the virtual format, which have opened up new possibilities in panel discussion and Q&A sessions. At the American Association for Cancer Research (AACR) Annual Meeting, held online this year in April, attendees were asked to vote in real time on questions submitted through a chat channel. Aside from improving the wording and airing of more insightful questions, this also drew a larger audience into actively participating throughout the discussion sessions.

Panel discussions can also be better controlled in online conferences. Professor Russ Altman, one of the chairs of the Stanford University–organized COVID-19 and AI Virtual Conference in April, revealed that messaging between moderators on a separate channel helped finesse discussions in real time. “For example, we had one panelist who we thought was contributing a little bit too much,” he said. Through a “backchannel conversation,” moderators jointly decided to ask questions that would engage the other, less vocal panelists.

The above reiterate the fact that things are changing and many people are accepting the change. This are all part of the new world order, the internet of things and so on. as we explore the possible effect on the future of conference tourism most especially to our hoteliers in Ghana, I will be glad to hear from you and also provide your views to this increasing change sweeping over the world.

Philip Gebu is a Tourism Lecturer. He is the C.E.O of FoReal Destinations Ltd, a Tourism Destinations Management and Marketing Company based in Ghana and with partners in many other countries. Please contact Philip with your comments and suggestions. Write to [email protected] / [email protected]. Visit our website at www.forealdestinations.com or call or WhatsApp +233(0)244295901/0264295901.Visist our social media sites Facebook, Twitter and Instagram: FoReal Destinations.

African countries need reliable and accessible economic data: recent ratings show why

October 22, 2020

A number of African countries have recently been contesting decisions by credit rating agencies. Some have raised objections that the rating agencies lack understanding of their economic environment. Others have challenged the correctness of their ratings on the basis that the agencies had not discussed them with the country’s representatives.

The United Nations has questioned the timing and basis for rating downgrades. The eurozone rating watchdog – the European Securities and Markets Authority – has also cautioned agencies against deepening the coronavirus crisis through “quick-fire” downgrades of countries as the pandemic pushes economies into recession. The African Union has called for rating agencies to freeze downgrades during the COVID-19 global pandemic.

But rating agencies justify their decisions on the basis of credible data that’s available.

There is indeed a problem when it comes to credible data. Most African countries lack reliable and up-to-date data. Where it is available, analysts and researchers have questioned its accuracy.

What this means is that governments are failing to convey sufficient and credible macroeconomic data and other important information to rating agencies and other interested parties. There is a dearth of information. Analysts have reported instances of manipulation.

This has negative consequences for governments and the countries they run.

Why good data matters

Credible macroeconomic data and accurate information about how countries are running their finances is key to determining business confidence and market sentiment. If governments fail to ensure that financial markets can get reliable data, the public media assume this role. In turn, investors become more speculative.

Where credible data is unavailable, rating agencies make assumptions and estimate the key risk factors. These estimates can prejudice the risk profile of a country, especially if the lead rating analyst is pessimistic about the country’s economic outlook.

Rating agencies use a number of measures to determine a rating. They evaluate governance and institutional strength and they weigh economic and fiscal factors. They also assess the domestic political and geopolitical risks. In addition, they evaluate a country’s ability to withstand unforeseen shocks, commonly referred to as an event risk.

It’s a challenge for agencies to assess African economies’ susceptibility to event risks and the strength of their governance arrangements and institutions.

Why access to policy information matters

The African Peer Review Mechanism, set up as a way for African countries themselves to evaluate the legitimacy of rating drivers, found that a number of the rating decisions during the COVID-19 pandemic were simply a result of the information asymmetry between governments and rating agencies.

The following recent examples are evidence of asymmetries:

Standard & Poor’s downgrade warning to South Africa over its R500 billion coronavirus package. The rating agency believed the package could increase the country’s debt burden to unsustainable levels, weakening an already depressed economy. The problem was that government had failed to emphasise that a huge chunk of the package – about R400bn – was productive spending on protecting jobs, creating employment and assisting business enterprises. Government should have highlighted how the net economic output of this productive expenditure would be beneficial to the larger economy. Combined with a plan for increasing efficiency in revenue collection, it would have addressed the concerns about rising debt.
Moody’s rating review for the downgrade of Cameroon, Côte d’Ivoire and Senegal, and downgrade of Ethiopia because of their participation in the G20 Debt Service Suspension Initiative. There were information gaps on the nature and magnitude of risk this initiative posed to private creditors.
Standard & Poor’s downgrade of Ghana because of one-off fiscal expenditure. Ghana planned to pursue fiscal consolidation after COVID-19 without accumulating high debt. Had government shown how the temporary increase in expenditure would not be such an economic burden, it would have addressed the rating agency’s concerns.

What’s missing

A number of negative decisions could have been avoided through more transparency and communication between governments and rating agencies.

Regular meetings are key. Rating agencies typically have meetings with government officials, central banks and private sector representatives ahead of a ratings decision. The COVID-19 outbreak interrupted these.

There’s also the issue of the capacity of governments. There have been cases of government officials and other stakeholders who meet representatives of rating agencies being inadequate to the task. Governments must ensure that their teams can provide rating agencies with accurate information and explain inconsistencies in the data and policy direction that rating agencies pick up.

Two African countries stand out for having been able to demonstrate the soundness of their economic policy decisions during COVID-19.

Botswana, the only A-rated African country, retained its rating by Moody’s. Government made a strong case to rating agencies about its fiscal strategy, institutional strength and prudent policymaking.

Egypt retained its B-rating. It has opened several platforms to disseminate data on its improvements in governance and policy effectiveness. It is the only African country that issued sovereign bonds after the outbreak of the pandemic. The US$5 billion Eurobond issue was priced at substantially fair yields and was five times oversubscribed.

How data transparency can be achieved

African governments need to invest more in collecting and sharing accurate data, which they must communicate to investors and rating agencies.

A good starting point would be the data standards set out by the International Monetary Fund. These are aimed at enhancing transparency, openness and credibility of data. They guide countries in how they should package their economic and financial data. Subscription to the standard is voluntary. All African countries but three – Somalia, South Sudan and Eritrea – subscribe to the data provision platform. But most are still not supplying timely data.

Lastly, it’s important for African governments to engage rating agencies regularly. This is even more important during times of crisis so that rating agencies can be better informed about how governments are responding. Key individuals in government should also speak with one voice when communicating with the investing public. They should make the effort to regularly address all concerns being raised.

Misheck Mutize is a Post Doctoral Researcher, Graduate School of Business (GSB), University of Cape Town

This article is republished from The Conversation under a Creative Commons license

Editorial 2: Establishment of Cashew Council a positive development

October 22, 2020

With the setting-up of the Tree Crops Authority as part of government’s Planting for Export and Rural Development (PERD) programme, it is noteworthy that one of the six earmarked tree crops under PERD – cashew – has been able to launch the Cashew Council of Ghana (CCG) to serve as the sector’s apex body.

CCG is made up of actors in the cashew value chain and is a platform for such actors to advocate for policy reforms, and is naturally headquartered in Sunyani, the Bono Region capital.

It is also gratifying that the outdooring comes a few weeks after the president inaugurated the Tree Crops Development Authority (TCDA), aimed at regulating cashew and the five other specified tree crops under PERD.

This is a landmark activity for the cashew value chain because the production of the commodity in West Africa has doubled over the years from 800,000 metric tonnes in 2009 to 1.7 million metric tonnes in 2020.

In Ghana, production has grown from 22,000 metric tonnes to 105,000 metric tonnes for the same period under review. This monumental growth calls for proper organisation and regulation, hence the need to commend all actors in the cashew sector.

Without doubt, the establishment of CCG will complement and enhance activities of the TCDA; and we believe this will put the industry in a better position to seek the interest of the entire value chain for better prospects.

The African Cashew Alliance (ACA) needs to be commended for its untiring efforts to improve the lot of the cashew sector as a whole. Their support was instrumental in the establishment of CCG and, as organised as they are, they are in a better position to influence pricing of the commodity as well as policies to improve their operations.

Editorial: Reducing housing deficit by 40% ambitious but necessary

October 22, 2020

Following working visits by the Ministers of Finance and Economic Planning and Works and Housing to two affordable housing projects near Tema this week, plans are in the pipeline to address the over-two million units housing deficit afflicting the nation.

To this end, ’s outfit has established the National Housing and Mortage Fund (NHMF) to provide capital at two percent for banks participating in the housing sector to fund housing projects.

This will enable individuals, particularly public sector workers, to own affordable homes at a mortgage that must not go beyond 12 percent. Also, the government is partnering the Ghana Real Estate Developers Association (GREDA) to provide a significant amount of housing units annually.

For his part, Samuel Atta Akyea – Works and Housing Minister – indicated that owing to government’s commitment to bridging the deficit, a master-plan is being put together that aims at reducing the current housing deficit by 40% if it is retained in power for the next four years.

Mr. Akyea indicated that government wants to start with public sector workers first, due to the reliability and predictability of their salary since payment will be deducted directly from the Controller and Accountant-General’s Department to service the mortgage.

He is however hopeful that the private sector will not be excluded, provided they have a consistent income stream. Affordable housing schemes have been in the pipeline spanning several political administrations ever since the inception of the Fourth Republic.

But the sad aspect is that once the administration is voted out of power, the schemes stall and largely remain white-elephants – to the chagrin of workers in dire need of accommodation. It is all well and good that a master-plan is in place to drastically reduce the housing deficit, but what guarantees such a scheme will see the light of day; particularly when there is no guarantee the electorate will retain the current administration.

Owing to the over-politicisation of such schemes, the whole issue of putting up affordable housing schemes seem like a wild-goose chase. We need to focus on completing such schemes so as to reduce the growing deficit in housing across the country.

That said, we believe any scheme that is in place to reduce the country’s huge housing deficit needs to be pursued to its logical end. We must end the merry-go-round.

Be frontline actors in AfCFTA

October 22, 2020

President Akufo-Addo 2 — President Akufo-Addo

– Akufo-Addo to local businesses

President Nana Addo Dankwa Akufo-Addo has asked local entrepreneurs to exploit the enormous potentials provided by the Africa Continental Free Trade Area (AfCFTA) for trade and investments across various sectors of the economy.

“Ghana, like many African countries, is blessed with an abundance of resources. However, over the years we have not been able to translate our resource wealth into the much-needed growth and development we desire; thus leaving our economy, still, in a fragile and unfulfilled state,” he said.

The AfCFTA provides an opportunity for Africa to create the world’s largest free trade area, with the potential to unite 1.3 billion people in a US$2.5trillion economic bloc and usher in a new era of development.

The AfCFTA’s main objectives are to create a continental market for goods and services with free movement of people and capital and pave the way for creating a Customs Union. It will also grow intra-African trade through better harmonisation and coordination of trade liberalisation across the continent.

The president, speaking at the 2nd National Conference on AfCFTA, explained that the new trade agreement will ensure that trading among member-states on the continent will be duty-free and quota-free.

He said it will significantly boost intra-African trade, stimulate investment and innovation, diversify exports, improve food security, foster structural transformation, enhance economic growth, unleash the entrepreneurial dynamism of African peoples, and create jobs for Africa’s youth.

“We in Ghana cannot afford to let this window of opportunity slip by. We hope that the private sector, facilitated and actively supported by the government, will be at the forefront of trying to take advantage of the vast possibilities presented by the AfCFTA,” he said.

To take advantage of these opportunities, he explained, the government has since his assumption of office in 2017 implemented various innovative and strategic interventions to promote and expand production and value addition. These include the One District, One Factory; Planting for Food and Jobs – aimed to achieve food security for farmers; and development of new strategic industries such as garments and textiles, pharmaceuticals, automobile assembly and component manufacturing, petrochemicals, iron and steel among others.

These initiatives are hoped to diversify the economy beyond traditional dependence on cocoa, gold and timber.

The president also stated that government will look to continuously empower local businesses since it will generate a new sense of dynamism while reaffirming government’s determination to assist Ghanaian businesses to take full advantage of AfCFTA, and to ensure that the required financial and human resources are mobilised and developed to make Ghana a new manufacturing hub and financial services centre for the continent

Trade and Industry Minister, Alan Kwadwo Kyerematen, maintained that the country needs bigger markets to become a major exporter and AfCFTA provides the opportunity to realise that vision. In order to take advantage of AfCFTA, the county has to diversify its export base and export more value-added products – which is at the core of National Export Development Strategy, Mr. Kyerematen noted.

Secretary-General of the AfCFTA secretariat, Wamkele Mene, said Africa should emancipate itself from the colonial economic model it inherited. Further to this, the successful implementation of AfCFTA will help lift close to 68m Africans out of poverty by 2035.

Cashew Council Ghana launched to complement TCDA

October 22, 2020

With support from the African Cashew Alliance (ACA), stakeholders in the cashew sector have launched the Cashew Council Ghana (CCG) to serve as the sector’s apex body in the country.

The CCG is made up of actors in the cashew value chain, and it will be a platform for cashew actors to advocate for policy reforms. Cashew farmers, processors and traders, among others, are all be represented on the Council with headquarters in Sunyani, the Bono Region capital.

The Council is responsible for reorganising the cashew sector and serving as its mouthpiece. It is also mandated to “maintain and present a unified front” for actors the tree-crops subsector.

Outdooring the CCG comes a few weeks after President Nana Addo Dankwa Akufo-Addo officially inaugurated the Tree Crops Development Authority (TCDA) to regulate cashew and five other tree-crops in Ghana.

Speaking during the Council’s launch at Techiman in Bono East, Finance and Advocacy Manager of ACA Ms. Reine Dehode stated that West Africa’s cashew production has doubled over the years from 800,000 metric tonnes in 2009 to an estimated 1.7 million MT in 2020; adding that in Ghana, production has grown from 22,000 MT to an estimated 105,000 MT in the same period.

This growth, she noted, calls for proper organisation and regulation of the sector; thus most African countries introducing policies to regulate the sector.

Ms Dehode believes the CCG will complement the newly-inaugurated Authority to properly organise and regulate the sector. “The ACA is confident that the CCG will help the TCDA, which was inaugurated last month, to develop the sector,” she said.

Executive Secretary of the Association of Cashew Processors Ghana (ACPG), Ms. Yayra A. Amedzro, explained that establishment of the CCG was a requirement of the technical committee that set up the TCDA. According to her, the CCG is duly registered at the Registrar-General’s Department and will now “serve as an umbrella body for the cashew sector”.

A cashew producer and member of the TCDA Board, Chief Adams Tampuri, said the politics of international trade mean that international policies are mostly favourable to sectors that are well organised, properly regulated and developed. He said the TCDA will work hand in hand with the CCG and other sub-committees to implement policies in the industry’s interests – indicating that the establishment of these bodies is “the greatest thing that has happened to the cashew sector”.

Cutting-cost during COVID-19

October 21, 2020

…T4SD Hub Ghana beneficiary SMEs reveal simple steps

The coronavirus crisis is shaking the whole world, with devastating consequences on health and businesses. For many small and medium enterprises (SMEs) in Ghana, this has led to obvious internal cost-cutting measures such as a reduction in the frequency of travels, lay-offs, and a search for external financial support such as accessing the GHS 600 Million COVID-19 Government of Ghana Stimulus Package for SMEs.

While the focus on these measures is understandable due to their promise of quick relief, there are several unobvious wastages in enterprises’ internal production processes that when eliminated can offer equally quick and even long-lasting opportunities during and after the pandemic.

Before COVID-19, the Trade for Sustainable Development (T4SD) Hub Ghana—an International Trade Centre (ITC) programme hosted in Ghana by Ghana Export Promotion Authority (GEPA)—had been working with 15 selected Ghanaian export-oriented SMEs to reassess how they view risk and returns of their resource efficiency business practices.

Through a customised coaching approach, the Resource Efficiency and Circular Production Processes (RECP) module of the T4SD aims at increasing the competitiveness of SMEs in international value chains through reduced consumption of resources used in production processes and enhanced productivity. To achieve this, ITC-trained resource efficiency experts embarked on field data collection; visiting SMEs in the shea butter, cocoa, and fruits and vegetable processing sectors to understudy their practices.

Gaps in the production process

From the data, the experts assessed SMEs’ resources efficiency management—identifying key gaps that produce wastages in their water and energy usage, and waste generation. Although some of the gaps were obvious to the SMEs, many lacked actionable steps to address them and reap the benefits that come with them.

Take water usage for instance. Over 90 percent of all companies studied were found to exceed the water consumption benchmark by between 18 percent to 25 percent. These companies mostly lacked water mass balance analysis and other water use management plans that can enable them to track the amount of water used in their production processes. The result is excessive water wastages with no plans for recycling and reuse.

The story was not different on energy usage. Several of the companies ‘energy consumption exceeded comparable industry benchmark values by over 25 percent. These high consumption levels were mostly attributable to the usage of inefficient motors and processing technologies; lack of consistent maintenance of machines and improper calibrations, as well as excessive heat losses as a result of poor factory floor layout and ventilation design.

Moreover, majority of the companies openly disposed of the waste without sound disposal practices. Mainly waste generated was not seen as valuable and thus was not recovered or recycled.

These gaps have direct implications on companies triple bottom line and addressing them means improving both the short term and long term economic, social and environmental gains of SMEs. To address the gaps, the experts worked with SMEs in identifying opportunities and assessing the cost and benefits for improving their production processes.

The measures included several low-cost initiatives that are even more crucial for many SMEs in Africa during this period of COVID-19 where the continent‘s SMEs are exploring strategies to stay in business.

Quantify inputs and introduce low-cost initiatives

First, SMEs can reduce their water usage by installing simple water meters to begin measuring quantities of water used per month or production cycle even if they source water from their wells or boreholes. Simple water tanks and pumps can also be installed to capture and cool used water which can be reused for cleaning and other purposes. Such installations should go hand-in-hand with employee education on efficient use of water.

Next, by assessing their ventilation designs, enterprises can make simple design changes that allow them to use natural lighting (eg. installing transparent fibre sheet) as much as possible. This will help reduce their electricity bills. Where using natural lighting is not possible, energy-saving bulbs, equipment, and proper calibration of processing machines can offer quick energy gains. For SMEs in the shea and other sectors who depend solely on a traditional 3-stone stove powered by biomass for processing, investing in low-cost efficient improved stoves could lead to significant savings on firewood and charcoal usage.

In the medium to long term, enterprises can explore the possibility of reusing their waste as a resource. From the studies, it was clear that the majority of the SMEs can explore the conversion of their waste into biomass fuel. For instance, briquetting of waste as a fuel source to power other production processes is feasible for several SMEs due to the availability of low-cost briquetting technology.

Similarly, companies can consider local water recycling and recovery technologies such as the Nnsupa Ceramic Water Filtering System, which is a non-chemically treated ceramic water filter capable of reducing pathogens, chlorine and lead from water. Those with better cash flows may consider solar technologies to augment their power supply and reduce their dependency on the unreliable main grid.

COVID-19 is an external threat that SMEs could not have foreseen, but all of them surely can use their strengths to turn the crises into an opportunity—they only need to look internally on their resource use to discover these strengths.

Article by:

Ebenezer Kumi, Trade for Sustainable Development (T4SD) Hub Lead, and Resource Efficiency Experts: Lawrence Amaning, Ishmael Edjekumhene, Samuel Entee Jnr and Emmanuel Appiah

Sanitation Ministry begins evacuation of illegal dumpsites in Ashanti Region

October 21, 2020

The Ministry of Sanitation and Water Resources (MSWR) has begun an emergency evacuation of heaps of refuse at illegal dumpsites at the Nkawie MA Primary School and others in the Atwima Nwabiagya Municipality in Kumasi in the Ashanti Region.

However, the exercise at a third illegal dumpsite at Akrofrom near Afari in Kumasi was yet to start because of lack of access road to the place.

The exercise formed part of the government’s efforts to rid the country of filth and also make Ghana the cleanest country in Africa.

Subsequently, the officials of the ministry gave a one-week ultimatum to deal with all the illegal dumpsites in the municipality. The ministry again visited some dumpsites which exercise had kick-started to ascertain the progress of work as well as familiarise themselves with the challenges of the waste management companies contracted to clear these sites

While the contractors at the Asokwa dumpsites were busy working, the others will start in the coming days at least in two days. Those places are Nkawie MA Primary School, Abuakwa DKC and Akrofrom in the Afari Electoral Area.

Speaking to some residents at Akrofrom in Afari Electoral Area, they said they were very happy that the sanitation ministry had listened to their plea because they were suffering from rampant illness due to the dumpsites.

The Assemblymember of Afari Electoral Area. Antwi Nelson, indicated that waste collection must be done within a month since illegal dumpsites posed serious health hazards to residents, shoppers and traders.

He also said, they had suffered living with the dumpsite in the community over the years and thus thanked the ministry for the initiative.

All-new Toyota Corolla hits market

October 20, 2020

… a car with everything – including soul

It is no secret that the 12th-generation Toyota Corolla has a soul, which enables the sedan to be driven with feeling. Toyota cars are particularly robust, especially within the cabin and wheel areas. It is really fun to get into a Corolla because it has a boisterous personality. It is also a rock-solid appliance that you can rely on.

After spending time behind the wheel of the new Toyota Corolla, I am very influenced by the fact that it has a soul. Whaaaat? Complete with an audio-infotainment upgrade that I would highly recommend, the Corolla is a sedan that made me fall in love with it.

The new Corolla is more than just a car

Toyota Ghana Company Limited’s blurb says “Nothing has changed. Except everything”. Needless to say, the overall look of the new Corolla is more energetic than most of the contemporary vehicles around. With the edgier styling and more engaging handling, Toyota has given car lovers an opportunity to love a car that has a soul.

Traits of words like efficient, reasonable and dependable are the likely top of mind-blowing when it comes to the new Corolla. Undoubtedly, the Toyota has rendered more visually-interesting than perchance it’s ever been; with a large grille, dagger-like headlamps and wheels spanning up to 18-inches. It’s a bystander to be unquestionable and arguably a more gorgeous choice.

Toyota’s Corolla is now a car that’s actually fun to drive. Complete with paddle-shifters and comfortable seats striped with stitching that contrasts against its upholstery, the Corolla is really coming out of its shell.

The all-new Corolla feels sporty enough to make driving to work, practice, or the school drop-off and pick-up line more fun. This is a car that has always been a reliable commuter. It features fantastic fuel economy and amazing value. However, the Toyota Corolla hasn’t always been known for its spunk or sparkle. Overall, the new Corolla has proved itself to be a compelling and engaging car that even wowed my son.

It’s a family ride

Ensuring that there’s a version of the Toyota Corolla for every buyer and budget for its size, the new Corolla accommodates my family of four pretty well. The little covers over the latch points in the rear-bench are easy to remove. However, I can imagine myself losing and then wishing for them after the car seats are outgrown and we no longer have use for them.

The soul of the car

Regardless of transmission, the new Corolla comes with standard active safety features such as a pre-collision warning system with automatic front-braking, lane-departure warning, lane-keeping assist, and automatic high-beam headlights. A touchscreen infotainment system is also standard across the board, with a 7-inch unit sitting in the centre stack of the base and a larger 8-inch unit dominating the dash of all other trims.

The bigger infotainment screen benefits from Toyota’s latest Entune multimedia system, which includes Apple CarPlay compatibility and a built-in Wi-Fi hotspot. High-level trims go two steps further and add an in-dash navigation system and JBL premium audio system to the mix.

Plus, the moon-roof and stitches made everything a little more fun. The Corolla handles well and feels secure through corners and at speed on the highway. For a practical family car, it gets the job done plus some perks.

A sport-mode gives the gas pedal a bit more oomph – plus, the dash display turns red when it’s in sport-mode, which my boy loved. Overall, the new Toyota Corolla is an excellent all-around car with the modern exterior styling, plenty of standard safety and tech features, and some fun extras.

Finally, I would surely recommend the Corolla to anyone that does a lot of driving and wants to stick with a car for its practical fuel economy and would like a 3-year warranty.

For further details and enquiries, you can visit the showroom of Toyota Ghana Limited at any of its garages nationwide for a test-drive and a feel of what I have experienced.

Pitching Right: How to pitch your startup to investors

October 20, 2020

Get-your-pitch-right-first-time-600x398 — Credit: Bytestart

Innovative Strategies for Startups and Small businesses

It is a truism that a good idea sells itself, but then, for a good idea to sell itself, it must first be presented in the best possible way. Many startups have failed to secure funding not because they were unviable businesses or ideas, but because they were not presented in the right way to attract investor interest. Having a great business idea is indeed the first step to starting a business, however, every startup needs an injection of funds at some point.

For most startups, this means looking to external sources to provide the funding needed. This involves presenting all the things about the startup/business idea in a way that makes a compelling business case attractive enough for investors to back it. Once you have determined how much money your startup requires and decided that outside investment is the strategy for you and your business, the next step will be to determine which investors to contact and pitch the investment opportunity.

Pitching to investors can be one of the most demanding experiences of the startup journey. There is no right way of making a pitch, but there are generally accepted guidelines on what the structure of every pitch should look like and this usually includes the problem, the proposed solution, the ins and outs of the product, the market size, the business model, the financials and investment ask and the exit strategy. One of the best ways of putting together the pitch is to create a pitch deck with each slide showing a component of the pitch structure. A great pitch deck is more than just putting information on a PowerPoint, coupled with animated graphics, financial charts and bullet points. It demands strategic planning, thoughtful word choice, and purposeful design, and if done right, the pitch deck acts as a great visual complement to help potential investors engage with the pitch, visualise the market data and understand the business model. Depending on the time available and the setting, the pitch can be presented in its entirety or may need to be summarised. Either way, it is imperative to get the basics right.

Start Right

There are several interpretations of what a pitch or pitching involves, but the consensus is that the simpler the pitch, the better. The starting point for a great pitch is simplicity. When an idea is presented in the simplest clearest form, it eliminates ambiguity and the tendency for misinterpretations which may inadvertently lead to questions that will poke holes in the idea. When entrepreneurs have the opportunity to meet a potential investor, there’s always an inclination to overly impress and in so doing may fail to effectively communicate the salient part of the business that the investor needs to know in the first instance. In its basic form, a great pitch would be easily understood by a potential investor well versed in your industry and by your neighbour who knows nothing about your business or industry. That will make things truly clear to the widest possible audience.

By eliminating ambiguous and complex descriptors, adjectives, adverbs, etc. you can distill your pitch to a concise form that can be easily understood. The purpose of a pitch is to create a foundation for curiosity and excitement. The aim should be to get potential investors excited enough to ask anticipated questions. When a pitch is communicated clearly, it will usually answer the three fundamental questions: What is the product (solution), what is the problem and who is the customer.

Concision gives secondary information about you, it shows efficiency, if you are efficient with your words, it is most likely that you will also be efficient with your thoughts and actions which goes to show that you will be efficient with the way you run your business as well.

Be Truthful

As simplistic as this might sound, entrepreneurs might at times be tempted to project their business/idea to be bigger than it really is, usually to impress potential investors. This approach will always be more injurious than beneficial to the business. Every investor has specific investment interest, so when meeting with a seed-stage founder or first-time entrepreneurs, it is usually because that is in their interest area, and therefore are aware the business is in its infancy. What investors look for is a business/idea with the potential to scale given the right support and nurturing to make a profit. It is thus advisable to present a holistic and realistic view of the business/idea – the size of the market, the competitive advantage, the team behind it, the business model, the marketing plan and a breakdown of the fundraising ask. A simple way of looking at this is to put yourself in the place of the investor and present the investment opportunity.

Paint a picture

When a potential investor hears your pitch and can imagine in their mind what you are offering, then you are on to a winner. Again, this involves clarity and concision, once you paint a clear picture, potential investors would ask more anticipated questions to get all the information they need, to make a decision. Depending on how you are meeting with the potential investor, painting a clear picture might involve a demonstration of the solution such as a website, app, a unique proprietary design (in the case of a tech product) or the physical product.

Be specific with the investment ask

Admittedly, it can be a tad intimidating and risky to be specific with the exact investment ask, and as such some entrepreneurs may try to avoid this. However, this is undoubtedly the most important part of the pitch for most investors. Investors want to know the exact investment required from them and what the investment will cover. By being specific with the investment ask, it shows a thorough understanding of the financial needs of the business. Granted that sometimes being specific may not guarantee funding, it will ease investors’ concerns, and elicit confidence in the business model and strategy.

Be ready with answers

A great pitch will lead not only to the excitement, but also questions. Anticipating possible questions will help you present well thought through ready answers. One way to anticipate questions is to prepare a Q&A and have a colleague go through with you. Another way is to look at the pitch from the investor’s perspective, and address issues that may need clarifications such as the business model, the market, RIO, exit strategy, etc.

You are the Pitch

Investors are people, and people connect with other people first before they connect with an idea. Investors do not only invest in businesses; they invest in the people behind the business and as such a pitch cannot be devoid of the entrepreneur. Investors are interested in why you are seeking to raise money for your startup. What will it do for you? What will it mean for your venture?

Involve your story in the pitch. Tell investors about your entrepreneurial (or personal) journey, what are the problems that inspired you to create the business in the first place. Describe the success and setbacks so far, and most importantly, show where you are headed, first as an entrepreneur and as the business. By sharing these things in your pitch, not only will it pique the investor’s interest and keep them engaged but will also help create a logical sequence to the pitch if doing a presentation.

Remember, the first meeting might not always close the deal, it is important to build a relationship with the investor, keep them informed of your progress, e.g. through your newsletters to show firsthand the customer experience with your product(solution) and when the opportunity arises, ask for a second meeting.

Ultimately, pitching to an investor is an important step in the journey of any startup. The difference between startups which get funded and those that do not lies in the pitch. The key is to choose investors carefully, prepare well and when the opportunity arises, pitch right.

Photo: Naa Otua, a digital marketing professional and entrepreneur

Naa Otua is a digital Marketing professional and entrepreneur. She is the Founder of naamita.com – an online marketplace for women entrepreneurs and the Owner of Q&A Concepts – a Digital Marketing and Design Agency. Naa is also the Co-founder of the Wami Project – a skills share platform for budding entrepreneurs and Co-founder of the Gurl Kode – a community of Ghanaian women empowering each other and causing change through conversations.

Contact Naa Otua via

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Vista Bank expands trade finance services in West Africa

October 20, 2020

Photo: Simon Tiemtore, Chairman, Vista Group

……acquires BNP Paribas in Guinea and Burkina Faso

Vista Bank Group (‘Vista’) has agreed with BNP Paribas to acquire BNP Paribas’ majority interest in the International Bank for industry in Guinea and the International Bank for Industry, Commerce and Agriculture in Burkina Faso.

The acquisition, whose completion is subject to regulatory approval, adds to Vista’s existing banks in Guinea, Sierra Leone and The Gambia.

Afreximbank’s Intra-African Trade Initiative, as well as Advisory and Capital Markets, advised and structured the financing of this landmark deal with Deloitte and Astura also assisting Vista on financial and legal aspects of the transaction.

The Chairman of Vista Group and Lilium Capital, Simon Tiemtore said the move is a milestone event in Vista’s growth strategy. The acquisition of BICIAB in Burkina Faso allows management of Vista to establish themselves in the West African Monetary Union (WAEMU) region as a springboard for their further expansion.

According to him, the integration of BICIGUI with their existing bank in Guinea propels Vista from the fifth-largest bank to the largest bank in Guinea in terms of both total assets and number of branches.

He added that Vista’s acquisition of BICIGUI and BICIAB also allows the company to benefit from an excellent portfolio of high net worth and large blue-chip corporate customer segments to add to their existing focus on the small and medium enterprises (SME) and mass retail sectors.

Vista now has both the scale and the critical momentum to deliver on its digital and intra-African trade strategies in West Africa in time for the immense benefits from the impending implementation of the African Continental Free Trade Area.

The acquisition adds bank branches in Burkina Faso and Guinea to Vista’s existing footprint of 22 branches in Guinea, 9 branches in The Gambia and 19 branches in Sierra Leone. Following integration, BICIAB and BICIGUI’s customers will further benefit from Vista’s core banking system, state of the art digital and mobile banking products, services, functionality and solutions. In addition, Vista has an intense customer-centric focus and ongoing investments in technology to fulfil its digital strategy.

Vista is now the largest bank in Guinea and operates in four countries including Burkina-Faso, a strategic point of entry into the WAEMU market.

The role of rural banks in Ghana’s future economic development

October 20, 2020

Photo: Rural Bank managers in a conference

It is increasingly recognised that we live in a VUCA World, characterized by Volatility, Uncertainty, Complexity and Ambiguity. The Covid-19 pandemic has shown how quickly major economic disruption can occur.

Leading economies suddenly see numerous businesses facing bankruptcy. The dislocation, coupled with the impact of new technology, will accelerate the pace of change. To prepare for the future, we need to explore opportunities and develop new approaches. In the context of Ghana, author of this article, who is the CEO of JCS Investments, is urging the government to collaborate with relevant entities to develop a plan that strengthens rural SME operations.

This will include improving the national supply chain where the rural and community banks play a key role; we should remember that the revenue generated in rural areas contributes significantly to Ghana’s GDP.

The importance of developing the rural economy in a sustainable manner has become even more evident following the impact of Covid-19. Many countries are now reviewing economic assumptions and taking steps to re-orientate their supply chains to embrace more local economic activities.

Coupled with climate change issues and the global goal of ‘carbon neutral’ economies by 2050, new sustainable supply chains become increasingly important. Ghana has a part to play in the overall process.

The ARB Apex Bank is a mini central bank that offers support services to rural and community banks. It has identified the need to create an ‘ecosystem’ for the rural banking system. This involves creating the conditions that enable them to function efficiently, including the ability to raise new funds.

GAX is one of the platforms that can complement the capitalization of rural banking systems. However, it is recognized that the system needs to be improved and the current bottlenecks addressed. Should a rural bank list its shares, this also gives current shareholders a market that enables them to release some or all of their shares.

In this new reality, JCS Investments might be described as a BIO (boutique impact organisation). The firm has a keen interest in the rural banking sector and gathers information on rural and community banks (RCBs).

This is part of a plan to ensure the RCBs complement other initiatives by the Apex Bank and Ministry of Finance. The aim is to address some of the bottlenecks JCS has identified. This will enable the sector to move a number of the rural banks towards a listing on the Ghana Alternative Market (GAX). JCS is also working with key stakeholders to improve operations and add value. The company also works closely with farmers and processors operating in the rural economy.

Rural Banks in Ghana

Rural and community banks have demonstrated that they have a key role in supporting the development and the reduction of poverty. However, significantly more work is required to develop business networks and improve supply chain capability. Over time, targeted investment in the rural economy will contribute to new skills and capability that bring significant economic benefit. Improving the national supply chain will act as a catalyst that supports economic developments in these areas. However, the capability and responsiveness of the rural banking system is central to sustainable change.

They have a key role in the geographical areas where they are located. This means that ‘triple bottom line’ (noted as TBL or 3BL) need to be at the forefront of business thinking. The challenge is to balance social, environmental (or ecological) and financial considerations.

In addition to directly creating all the social and economic benefits through employment opportunities, TBL thinking also aims to reduce social inequality. This makes financial sense, as it leads to a release of talent that supports future economic progress. In contrast, a failure to address wider criteria can be destabilizing. This is particularly true when Ghana faces significant population growth through to 2100.

This will cause instability if not actively managed through effective rural development. The rural banks are one of the key channels to distribute funds to businesses in their localities. They can also educate and encourage positive entrepreneurial activity. The evidence suggests that rural and community banks have a key role in the country’s economic development. They can act as a catalyst to stimulate the rural economy by supporting micro and SME businesses based in rural areas.

Unfortunately, rural SME are facing unprecedented challenges in accessing affordable finance. There is a need for rural banks to be innovative in developing new business models. They also need to recognize the current challenges and support SMEs that face disruption and have growth potential. It is also clear that business modelling needs to recognize the shift from ‘double-digit’ expectations to single figure returns. With progressive thinking, rural banks are best placed to respond to the changing reality. Not least, this is due to their proximity to their target clients. They have the potential capability to serve a wider catchment area, head up local economic development and contribute far more to the expansion of the rural economy.

JCS has identified a number of key activities that can help develop this initiative and build a more robust rural financing ‘TBL ecosystem’. The rural and community banks play a very key role which may include listing RCBs on the GAX. There is scope to encourage business advisory firms to work closely with the RCBs to help them adapt to their newly listed status. It’s also important to ensure they have transparent systems. Specialist advisors can help the RCBs raise capital for lending and increase the size of their portfolios.

Listing on GAX

The listing of rural banks on the GAX is one step, coupled with other initiatives by stakeholders, which JCS and others are championing. The aim is to bring value to both existing and new shareholders. This creates opportunities for people interested in subscribing to shares on the GAX.

JCS is a keen advocate for the creation of the ‘enabling environment’ to open up new opportunities and support the listing of RCBs on the GAX. It is hoped that the initiative will also encourage the RCBs to increase the percentage of their allocated raised capital directed towards supporting the locally defined supply chains. This involves empowering more SME’s and Positive Gender Lens investments, and also a focus on renewable energy projects.

There is scope to encourage SMEs operating in rural areas to make use of sustainable energy and efficient technology. Ms Safo argues that the policy should also support business initiatives by women in the RCB areas.

JCS has been operational as an impact investment company in Ghana and has worked and collaborated with a number of investment partners over the last 20 years. The company has gained in-depth experience relating to the operation of rural banks in Ghana. This has included investment, by way of equity in the Nwabiagya Rural Bank, and JCS has now completed a partial exit (as part of a phased process of withdrawal).

The initiatives outlined in this article also provide price transparency to shareholders, as well as to potential buyers of the shares, and listed shares may also prove to be more readily accepted as collateral, should the security holder need it.

In summary, JCS believes that RCBs can provide an additional channel to deliver essential financial services. The aim is to work with RCBs of good standing. This initiative can contribute to poverty reduction and help in bridging the gap between urban and rural areas and achieve better-balanced development. This is part of a broad policy of rural economic business building. The current reality is that many are still unable to raise the much-needed capital to move their businesses forward.

The proposal is, therefore, to work with selected rural banks and promote listing on the GAX. This builds on a solid foundation for growth. JCS is now consulting with various key stakeholders.

New SuperSport app redefines the mobile sports experience

October 17, 2020

SuperSport has unveiled an all-new app that sets exciting standards for sports fans and perfectly supplements the World of Champions’ broadcast offering. The newly developed app was rolled out last week and offers an entirely remodelled and far sleeker experience than before.

With emphasis on a richer, more visual feed, app users will be able to personalise their content by following their favourite teams, tournaments and more. Users will need to log in via email or social media (Facebook, Twitter, Google, Apple) in order to create a personal app experience, seeing just the news, scores and videos they are interested in.

For the on-the-go sports fan or the second-screen devotee, the app will add greater depth to regular viewing thanks to additional features such as finely tuned notifications, enhanced search and sweeping coverage of your favourite sports.

With the speed of data delivery, a key focus, sports fans can expect up-to-the-minute match commentary and score updates for all their favourite tournaments.

“We’ve invested a lot of time, energy and resources into making this an app that reflects SuperSport’s quest for supreme sports coverage and in-depth insight,” explained Cecil Sunkwa Mills, Managing Director, MultiChoice Ghana. “Users will be thrilled by the slick and intuitive design, plus the ability to either catch up with the latest news or dig deeper.”

The SuperSport App is available in Ghana as well as around the continent where there is a DStv or GOtv operation for all sports fans to use and is free to download and use (standard data rates apply). The app is available on Android & iOS.

Inter Allies striker Samuel Armah signs for Albania top flight team

October 17, 2020

…promises to break into the national team by end of season

Inter Allies FC attacking player, Samuel Armah, popularly known as BA, has signed a season-long loan deal with Albania top-flight club, Klubi Futbollistik Skënderbeu Korçë, (KF Skenderbeu)

The club finished fourth in the previous league season missing its chances of playing in Europe to third-placed Laci KF and are hoping to make it to the European competition this season, a factor that necessitated the signing of the Ghanaian striker who is very prolific in front of goal.

Before leaving the shores of Ghana this weekend, BA pulled a staggering performance in the previous season’s Ghana premier league for Inter Allies FC, scoring six goals with eight assist in just 12 matches. The player joined his new teammates over the weekend and has started training with them ahead of their next league game after the FIFA international break.

In an interview with the B&FT, the 19-year-old striker narrated his dreams of playing for the nation, starting from the Ghana national U-20 football team, the Black Satellites, as well as Ghana Olympic football team or Black Meteors and subsequently securing a slot in the senior national team the Black Stars.

“I want to play in the national teams for my country and I know the only way to make it there is to work hard and play regularly at the club level, so I am going to give my all to my club in Albania and hope to be recognized by the coaches of the national teams.

I hope to break into the national team soon and I will give my best for the national team. My dream is to follow the footstep of Andre Dede Ayew and his colleagues to win a world cup trophy for Ghana someday. My target now is to be the top scorer in the Kategoria Superiore, at least, if not the best player at the end of the league this season,” he said.

Samuel Armah, who’s ambitions at the club level is to don the red and white jersey of Liverpool and experience the explosive euphoria that is being spoken so much about at Anfield Stadium, made his presence felt in the Ghana premier league with his special features such as his physical strength, agility and ball control.

According to Albanian side KF Skenderbeu, they have scouted the player for a while now and are convinced that he has all the right attributes to be a top player in their league, noting that his energy is very impressive and his ability to score with both feet even from outside the box is commendable.

He narrated how his coach described him as an intelligent footballer and so looking forward to him to integrate into the system and contribute to the progress they building at the club.

Abiola Bawuah Foundation commits to supporting 100 brilliant-but-needy girls

October 17, 2020

elisabeth heyfron — Elizabeth Hayfron-Asare

The Abiola Bawuah Foundation (ABF), a non-profit organization aimed at promoting the education and overall academic excellence of brilliant but needy students, has reiterated its commitment to supporting a 100 girls in rural Ghana under the 100 Girls Support Project.

The 100 Girls Support Project is aimed at supporting 10 girls in the then 10 regions of Ghana, however, following the creation of the extra 6 regions, the foundation announced its intention to increase the number from a 100 to 200.

Currently, the foundation has supported 70 girls from the Greater Accra, Ashanti, Central and Volta regions under the project. The remaining 30 are expected to receive theirs when schools reopen after the COVID-19 restrictions are eased. The educational support is targeted at girls in both Junior and Senior High Schools as well as Tertiary institutions.

Addressing the press in Accra, Elizabeth Hayfron-Asare, Chairperson for the foundation revealed that the foundation is currently supporting two medical students to further their education as well as five physically challenged girls. “If we say we are sponsoring the girls, it is not just basic school. We sponsor them right through to tertiary but they are expected to keep their grades up,” she said.

On her part, Nkechi Akunyili, a Trustee of the foundation noted that the foundation believes in transforming the lives of young girls through educational support and mentorship. She said this will go a long way to transform the country.

“The women that have impacted lives are a lot but there are still potentials out there that we are losing every day and that is why we cannot joke about what we are actually doing. We are at 70 but we want to get to 200 even by next year because there is the need to do more,” she assured.

Also present was Nana Hemaa Adwoa Awindor, another Trustee, who said: “It will be good that this gesture, in a number of years, a number of girls can say that without ABF I wouldn’t have been where I am. Somebody can refer to this support and support somebody. Our intention is to support a generation to support another generation.”

She added that “It will be good that this gesture, in a number of years, a number of girls can say that without ABF I wouldn’t have been where I am. Somebody can refer to this support and support somebody. Our intention is to support a generation to support another generation.”

Latest edition of ‘My Story Magazine’ highlights success stories, challenges of entrepreneurs

October 17, 2020

The latest edition of My Story Magazine, an entrepreneurial resource platform, has highlighted the lessons, experiences, challenges and success stories of 21 Ghanaian entrepreneurs who are poised to make a difference in their communities and project the African continent.

The 8th digital edition dubbed ‘scaling ideas into business ventures’, also celebrates some industry giants through the Women Who Inspire Series.

It also features the remarkable story of a young entrepreneur, an investment professional and a philanthropist, who through his agency, Investors Hub, have helped investors who want to invest in Ghana and Africa and also helped government organizations and private businesses secure funding.

The magazine which can be downloaded via: www.mystorymagazine.com further shares insight on career, business, investments, health, startup-investor relations from seasoned columnists.

Zango Women Livelihood & Empowerment programme launched

October 17, 2020

The Kuburah Diamonds Foundation, a not-for-profit organisation, has launched a Zango Women Livelihood and Empowerment Programme (ZANGWOLEAP), to support women in Zongo communities with entrepreneurship skills.

The programme which was on the theme: “Empowering the Zango women into building financial freedom through skills development and capacity building” took place at the Nima-Mamobi Community library in Accra. At the launch, 50 ladies were selected to be taken through a month-long make-up artistry training, during which intensive lectures on marketing, branding and book-keeping will be organized for the participants.

Founder and President of the Foundation, Adizah Ibrahim Sadiq, also known as Kuburah Diamonds, narrated that ZANGWOLEAP came about because she wanted to go beyond writing and supporting with money to getting young girls empowered through make-up artistry. “Although the market is saturated, it depends on how you do it. Just like the tomato sellers in the market, everyone makes ends meet, you just have to be smart by subsidizing your prices since you are an amateur,” she said.

Ms. Adizah, who is also a Womens’ Choice Awards nominee added that not everyone will be seen in the office space or doing white-collar jobs. Some haven’t gone to school but they can offer something useful with their talents. “If you have not gone to school and gotten the certificate, you can also do something with your talent. It is not all of us that can be seen in the office spaces,” she continued.

Alhaji Rabiu Maude, Social Entrepreneur and President of Zongo Inspirational Team (ZIT) encouraged participants to speak up on what they want to do. In addition, he entreated them to break all barriers in their businesses including language hurdles. “I encourage you to take advantage of resourced people present at the here to make an impact in your lives get all the details you need to begin something on your own,” he concluded.

ZANGWOLEAP was partnered by six makeup artistry companies comprising Fabloox Makeup Artisry, BallyQueen Beauty Studio, Biya’s Glam, Glow and Glitter, Leedean’s Beauty Parlour and Beauty Spot. The partners, in their remarks, laid emphasis on key character traits such as patience, determination, passion, to-do-will and humility in order to achieve success.

Herbalife Nutrition throws light on skin care with Aloe Vera

October 17, 2020

Tropical climate may be great for days spent in the park or outdoors but it can also take its toll on our skin! Aloe Vera is a natural skin soother that delivers moisture to the skin and prevent its (moisture) loss.

Aloe Vera is a lusciously green plant with succulent leaves that originally comes from the Arabian Peninsula. They grow wild in tropical, semi-tropical or dry climates around the world or are grown as houseplants because of how easy they are to care for.

Aloe Vera leaves contain a clear gel that is used in many beauty and skincare products and a range of antioxidants, including Vitamins C and E. The clear aloe gel can help to hydrate, moisturise, protect and heal your skin. You can either snap off the actual leaves, scrape the gel out and apply it directly to your skin or use products that contain Aloe Vera.

These days, Aloe Vera can be found in a range of beauty products and is often used alongside other skin-friendly ingredients such as olive oil or African Shea Butter.

Aloe Vera is of more use than just during summertime. You can use it on your skin all year to:

Support healing of minor cuts and burns
Soothe minor skin irritations
Hydrate your skin as part of your skincare regimen
Alleviate dry skin

Go on! Show your skin some tender loving care all year round!

Herbalife Nutrition is a global nutrition company whose purpose is to make the world healthier and happier. The Company has been on a mission for nutrition – changing people’s lives with great nutrition products and programs – since 1980.

Herbalife Nutrition’s targeted nutrition, weight-management, energy and fitness and personal care products are available exclusively to and through its independent members in more than 90 countries.

Through its corporate social responsibility efforts, Herbalife Nutrition supports the Herbalife Nutrition Foundation (HNF) and its Casa Herbalife programmes to help bring good nutrition to children in need. Herbalife Nutrition is also proud to sponsor more than 190 world-class athletes, teams and events around the globe.

NBSSI to digitise 500 MSMEs

October 16, 2020

Executive Director of the National Board for Small Scale Industries (NBSSI), Kosi Yankey-Ayeh, has disclosed that her outfit is working to digitise 500 Micro, Small Medium Scale Business in the country to enable the businesses expand their operations locally and prepare for the international market.

“The need to digitise MSMEs in the country is critical, as they are the backbone of the economy,” she said at the NBBSI Round Table for Women Entrepreneur event in Accra, adding that: “We (NBSSI) have gone into partnership with the German government to ensure that 500 MSMEs are digitalised and ready to face the world; and this will start hopefully next week to March 2021”.

The event, themed ‘Going Digital, a must to building resilience in the age of technology’, sought to educate and equip women entrepreneurs with technical know-how in order to grow their businesses as well as improve visibility to access markets. Mrs. Yankey-Ayeh noted that: “Digitalisation has come to stay; it is now and the future, and we need it to grow business and access the markets – including the international market.”

Addressing journalists, a Director at the NBSSI, Habiba Sumani hinted: “At the end of the round-table conversation, we (NBSSI) expect that women will feel more confident and comfortable in and among their peers to also seek necessary knowledge and skills to be well vested in technology”.

She stressed that it is now more important than ever for businesses to realise that to remain competitive there is need to adopt new and relevant technologies in their field of operations. She said, oftentimes, women seem to shy away from technology – not necessarily because they cannot use the tools, but due to the fact that they are not clothed with the requisite knowledge.

In view of that, NBSSI has put in some measures to fill the gap and make some common technological tools not only available but also accessible to assist women in their business operations. The NBSSI believes this move will aid them to become efficient and improve their business processes and procedures by cutting down inefficiency.

A Fund Manager at BUSAC Fund, Nicolas Gebara – one of the key partners of the NBSSI and Women Entrepreneurs, said the move is appropriate as women constitute half the workforce and cannot be neglected; adding that it will go a long way to ensure gender empowerment and equality in the country.

Women Entrepreneurs

Expressing their excitement about the initiative, Madam Aryetey – a five-year Spice business owner – said the move will help improve and expand her business. She however called on government to extend a hand to help more women, especially those in the MSMEs pushing hard to grow and employ others. Another, Josephine Thomson who deals in local cereals, believes digitising their businesses will indeed build resilience among women entrepreneurs who add to the country’s economy.

CUTS sensitizes market women on waste reduction measures

October 16, 2020

As part of activities to climax Green Action Week Campaign 2020, CUTS Ghana, research, consumer protection and public policy think tank with support from Consumer International, has educated market women at Kasoa in the Central Region on innovative measures to reduce the amount of waste they generate at the markets and at home.

In an interaction with the market women on Tuesday, the Country Director of CUTS, Appiah Kusi Adomako said minimizing the amount of waste generated can protect the environment and often turns out to have positive economic benefits. “Minimising or eliminating excessive waste generated makes it easier to meet targets of environmental regulations, policies, and standards. The dire environmental impact of waste we see when it rains can be reduced significantly if we gradually shun the use of plastics,” he said.

“The increasing quantities of waste places high demands on infrastructure and the costs fall mainly upon local and regional authorities. The financial advantage of reducing and recycling waste is enormous. Investing in the prevention of waste is also an effective way of reducing the costs of waste management. Not only do municipalities save money not having to collect as much waste, but the sorting and maintenance of waste disposal facilities would also require fewer resources. In the end, this benefits every Ghanaian both environmentally and financially” he added.

Mr. Adomako explained since women fundamentally manage the home, there was the need to engage them at the local level to adopt more sustainable waste reduction measures to manage the waste they generate on a daily basis. He encouraged them to reduce the amount of plastic shopping bags they give to the shopper.

“If every person who visits the market come with their own basket or reusable paper bag, and buy their goods using it, this will help reduce significantly the amount of plastic bags used, thereby gradually reducing the number of plastic in the system. This will free our gutters, streets and drainage systems from plastics” he added.

A Communication Officer at CUTS, Shadrack Nii Yarboi Yartey encouraged the women to be thoughtful about what they buy and choose a sustainable option whenever possible.

He stressed that they should avoid throwing food away and reduce the consumption of plastics which is one of the main pollutants of our environment.

He reiterated that adopting measures such as carrying a reusable bag each time they shop, refusing to accept plastic bags, and recycling plastic bottles will go a long way to address the sanitation challenges confronting the country.

“Preventing waste does not only lead to environmental benefits but to potentially lower costs since the quantities of waste collected and treated will be smaller. Reducing food loss can contribute to environmental safety. We all have a role to play to ensure that our gutters, streets and drainage systems are rid of waste. There is the need to take action to address this challenge” he added.

MoFA launches hybrid maize seed manual to boost local production

October 16, 2020

In an effort to boost local production of hybrid maize seed to discourage its importation, the Ministry of Food and Agriculture (MoFA) has released a hybrid maize seed production manual.

The 22-page manual was developed by the Council for Scientific and Industrial Research-Crops Research Institute’s (CSIR’s) Crop Research Institute (CRI), Kumasi and Savanna Agriculture Research Institute, Nyankpala-Tamale.

This in line with MoFA’s quest to promote the use of improved seeds to increase productivity which is one of the five pillars of government’s agricultural flagship programmes ‘Planting for Food and Jobs’ (PFJ).

The manual will guide farmers and other stakeholders to produce their own maize hybrid seeds that will guarantee high yields. This will discourage farmers from patronizing imported maize varieties at higher cost and resorting to open-pollinated varieties with low output. This is expected to increase the adoption rate of improve maize seeds in the country.

Launching the manual in Sunyani, Mr. Seth Osei Akoto, Director of Crop Services-MoFA, said the development will not only encourage the use of improve maize seeds in the country but also reduce the country’s import bill as it will become unattractive to import hybrid maize seeds and therefore urged farmers to embrace the manual.

“The adoption of improved hybrid maize seeds has enormous impact on Ghana’s food production. Before the implementation of PFJ, maize productivity was 1.8 metric tonnes per hectare. From 2017 till date, productivity has increased from 1.8 mt to 3.5 mt/ha with open-pollinated variety, while hybrid maize seeds yield is 6 mt/ha. That is why the focus is to encourage farmers to adopt hybrid seeds,” he said.

The hybrid maize seed production manual was launched during the opening session of a two-day ‘Agri Inputs Fair and Stakeholder Sensitization’ held under the theme: “Synergies for agricultural transformation through the value chain approach” in Sunyani. The fair was orgainsed by the ‘Small Holder Inclusive Productivity and Market Access’ (SIPMA) project consortium, MoFA, Crop Life and National Seed Trade Association of Ghana (NASTAG), with the support of Alliance for a Green Revolution in Africa (AGRA).

Rice production

In his open remarks, Mr. Akoto emphasized that government is committed to making the country self-sufficient of rice production by 2023, indicating that to achieve the target, efforts are ongoing to accelerate the cultivation of improved rice seeds, fertilizer application and extension services.

“Currently, the country is about 45 percent rice self-sufficient and in 2021, over 14,000mt of improved seeds will be distributed to farmers to be cultivated on estimated area of 260,000ha. With the current productivity level of 4mt/ha, this will translate into over one million mt of paddy rice. In Ghana, recovery rate of rice processing is about 68 percent. This means it will translate to close to 800 million mt of milled rice, representing about 75 percent self-sufficiency. If the momentum is maintained, I can confidently say that we will attain self-sufficiency by 2023,” he explained.

Digitalization & Post-harvest losses

The Head of Input Distribution and Agro Dealer Development unit, AGRA, Dr. Victor Antwi, stressed the need for more digital infrastructure to speed up the implementation and use of digital mechanisms for agricultural transformation. “With a little investment in digital infrastructure, we can bring on board all the value chain actors and other industry players onto a single platform to guarantee traceability and easy identification. This will help reduce transaction cost, increase the confidence banks, financial institutions and processors have in farmers.”

Commenting on post-harvest losses, Dr. Antwi observed that the perennial canker has bedevilled farming due to mistiming and long production period, especially delay in harvesting as well as storage infrastructural deficit. He said investment in mechanised harvesting and storage facilities will help turn the situation around. He also advanced the idea of value addition at the farm and central levels to reduce the losses. “This is one way we can reduce mechanical damage to farm produce during transportation via our deplorable roads.”

Domestic flight operations halted as GCAA staff strike over land encroachment

October 14, 2020

IMG-20201014-WA0044 — GCAA staff in red appearances. Credit: Fred Duhoe

The staff of the Ghana Civil Aviation Authority (GCAA) began a strike in protest of the encroachment of aviation lands at the La Wireless Station which is adjacent the AU Village in Accra.

According to the staff, activities of a private developer on the land is interrupting with critical aviation cable installments underground affecting the ability of the Air Navigation Services (ANS) which is a department within the GCAA responsible for managing air traffic on behalf of the country to get clear signals to aid the arrival and departure of aircrafts.

The strike action which commences Wednesday, October 14, 2020 evening resulted in the disruption of the operation of two domestic airlines – Africa World Airline (AWA) and Passions Airline. Several passengers were stranded at the Kotoka International Airport (KIA) as staff at the ANS refused to provide aviation signals to aid the departure of domestic airlines at the KIA.

The Manager of Corporate Communication at the GCAA Eric Mireku Amaning in an interview with the B&FT said the Minister of Aviation Joseph Kofi Adda, Minister for Employment and Labour Relations Ignatius Baffoe Awuah and Deputy Minister of Interior Henry Quartey held a crunch with the staff to resolve the issue.

The Staff demanded an MOU on the matter before they return to work.

Work ongoing on the aviation lands harboring critical installation underground

President inspects 1D1F fertilizer project in Asankare

October 14, 2020

President Nana Addo Dankwa Akufo-Addo has inspected the site of Best Fertilizer Company Limited, one of the companies operating under Government’s “One District One Factory” (1D1F) programme, located at Asankare in the Ashanti region.

President Akufo-Addo visited the project site on Tuesday, 29^thSeptember 2020 on the second day of his two-day tour of the Ashanti Region.

He was accompanied by Dr. Owusu Afriyie Akoto, Minister of Food and Agriculture, Mr. Alan Kyeremanten, Minister of Trade and Industry, and Mr. Simon Osei-Mensah, Ashanti Regional Minister

The company was incorporated in 2018 and headquartered in East Legon, Accra. The principal activity of the company is the manufacturing of foliar fertilizers, organic fertilizers, custom and special fertilizer blends for specific crops (examples – cashew, cocoa, coconut, maize, cowpeas, vegetables, mangoes etc.) needs in different agro-ecological zones in the country.

The project was initiated under the One-District-One-Factory initiative of the Government of Ghana.

According to Mr. John Osei-Bonsu, Managing Director, the company is wholly-owned Ghanaian company and will have one of the most modern fully automated fertilizer plants in the country. “The company will start operations in January 2021 and I’m appealing to the President to put it in his diary to come back to commission the factory in January after his inauguration, God willing”.

Sited on 15.3-acre land, the construction of the 15,000 sq.ft. phase one of the main factory is complete and a 20,000 sq. ft. warehouse 85% completed. The company expects to start producing various blends of fertilizers at the beginning of the 2021 Planting seasons with a planned capacity to produce 300,000 metric tons of various blends of foliar, organic, custom and specific fertilizer blends per year when fully operational.

Mr. Osei-Bonsu informed that all the necessary regulatory permits (Town & Country Planning, Environmental Protection Agency, Plant Protection and Regulatory Services Directorate of the Ministry of Food and Agriculture, Fire Service etc.) needed for the construction of the factory, as well as manufacturing and distributing fertilizers in the country, have been obtained/to be obtained once production operations start.

In his interaction with the promoters of the company, the President expressed his satisfaction with the progress of work on the site of the project, especially as local raw materials are going to be used to produce some of the company’s core products.

It is expected that employment opportunities will be offered to residents of Asankare and the surrounding communities particularly the youth, with direct employment being offered to 180 people, and the creation of some 450 indirect jobs.

The Minister of Trade and Industry, Mr. Alan Kyeremanten said the inspection of the project at Asankare was a clear testimony of the government’s intention of spreading industrialization across the country and bringing prosperity to all communities as well.

He announced that as part of the government’s initiative to promote industrialization in the country, incentives Best Fertilizer Company Limited will benefit from include duty-free status for importing machinery and equipment, duty-free for importing all raw materials for the Company, a Five-year tax holiday to be extended on application, which could be extended after the period. In addition, there would be a subsidy of 50% on the interest of loan the company borrow from any of the participating banks.

Leading with a security-first mindset in honour of Cyber Security Awareness Month

October 14, 2020

InfoSec Advisory with Del ADEN:

October is Cybersecurity Awareness Month — your best opportunity to jumpstart security awareness at your organization and highlight the importance for every employee to adopt secure habits. From this month going forward, each and every one of us needs to do our part to make sure that our online lives are kept safe and secure. That’s what Cybersecurity Awareness Month – observed in October – is all about!

Here at Delta3 International, we specialize in Cybersecurity, Digital Transformation and Business Continuity, as such we are able to provide services, solutions, and corporate training and education to support and empower ALL of your employees to elevate and improve your organization security posture this October and beyond.

Theme for Cybersecurity Awareness Month

The theme for 2020 is ‘Do Your Part. #BeCyberSmart’, helping to empower individuals and organizations to own their role in protecting their part of cyberspace. The line between our online and offline lives is indistinguishable. This network of connections creates both opportunities and challenges for individuals and organizations across the globe; Consequently, our advice is: If you connect it, protect it.

Leading with a Security-first Mindset – Know Your Attackers!

As organizations continue to shift to a remote work business model, the rush to deploy digital and cloud solutions has created new and heightened cyber risk concerns. Protecting these digital connections needs to stay top of the mind for leaders looking to help their organizations adapt to these changes while continuing to innovate. No matter what kind of password attack is being used, the end goal for the attacker is to “spoof” your identity by using your compromised password and successfully authenticate as you.

In honour of National Cybersecurity Awareness month, it is important we are all aware some of the most common methods of stealing or compromising passwords attackers use to gain unauthorized entry into your corporate data and confidential information.

Attack Type #1: Credential Stuffing

Credential stuffing occurs when an attacker already has access to username and password combinations which are commonly obtained from data breaches. In this kind of attack, attackers send automated requests containing these username and password combinations to try to successfully authenticate as you.

If successful, attackers can steal your sensitive data, make changes on your account, or even impersonate you. To combat credential stuffing attacks, make sure you are not reusing passwords across sites. Monitor your credentials to verify that they haven’t been exposed in a data breach. If your passwords are ever compromised, change them immediately.

Attack Type #2: Password Cracking

There are several password cracking techniques that attackers use to “guess” passwords to systems and accounts. The top three most common password cracking techniques we see are brute force attacks, dictionary attacks, and rainbow table attacks. In a dictionary attack, an attacker will use a dictionary list of words and combinations of dictionary words to try and guess the password.

A Brute force attack takes things a little further than a dictionary attack, an attacker will try various different combinations of letters, numbers, and special characters to try and “guess” the right password. Establishing resources to automate brute force attacks is easy and inexpensive, and attackers usually end up with large databases of credentials due to users using weak passwords.

A Rainbow table attack occurs when an attacker uses a precomputed table of hashes based on common passwords, dictionary words, and pre-computed passwords to try and find a password-based on its hash. Weak passwords can take seconds to crack with the right tools, making it incredibly important to use strong, unique passwords across all sites.

Attack Type #3: Shoulder Surfing

Shoulder surfing occurs when a malicious bystander observes the sensitive information you type on your keyboard or on your screen from over the shoulder. This can occur anywhere, whether in an office space, in a coffee shop, on an airplane, etc. Be aware of your surroundings when authenticating into sites or resources and ensure no one is watching you. Privacy screens that block screen visibility can be protective if you frequently work in public spaces.

Attack Type #4: Social Engineering

Social engineering targets the weakest link in security: humans. These attacks are incredibly common and often fairly successful. Social engineering is primarily a psychological attack tricking human into performing an action they might not otherwise do based on social trust. For example, an attacker might engineer their way into a corporate physical facility.

Once inside, they could approach an employee and say they’re troubleshooting a problem with a very specific service, and their credentials aren’t working. To combat Social Engineering attacks, continuous security awareness training to your employees is very important, so they never provide sensitive information or passwords to strangers, regardless of who they claim to be.

Attack Type #5: Phishing

While often considered a subcategory of social engineering, phishing is so prevalent that it deserves its own “attack” category. Phishing occurs when an attacker crafts an email to look like it is coming from a legitimate source in order to trick the victim into clicking a link or supplying sensitive information like passwords, social security numbers, bank account information, and more. To combat phishing attacks, your employees should be trained to know how to verify the source of any email they receive and never to click links in emails as they can often lead to phishing attacks.

Attack Type #6: Wireless Sniffing

An attacker using tools to examine network traffic can “sniff” the network to capture and read packets of data sent. Wireless sniffing captures data being sent between an unsuspecting user’s computer and the server that the client is making the request to. If a site isn’t using a TLS/SSL certificate, an attacker with these tools can easily obtain your passwords just by capturing the packets that are sent.

Use a VPN when accessing sites on public Wi-Fi so that an attacker cannot easily capture and read your data. Ensure that you have a TLS/SSL certificate installed on your website to help keep your site visitors’ data, including passwords, safe in transit.

Attack Type #7: Man-in-the-Middle Attack

A Man-in-the-Middle attack occurs when an attacker intercepts traffic, acting as the receiving server of requests and subsequently observing all the traffic being sent to the server they are attacking before forwarding the packets to the legitimate server. Your best protection when it comes to man-in-the-middle attacks is to ensure the site you are visiting is trusted, and the SSL/TLS certificate installed on the site is valid.

In conclusion

The line between our online and offline lives is indistinguishable. In these tech-fuelled times, our homes, societal well-being, economic prosperity and nation’s security are impacted by the internet.

As stated earlier, the overarching theme for Cybersecurity Awareness Month 2020 is “Do Your Part. #BeCyberSmart.” The theme empowers individuals and organizations to own their role in protecting their part of cyberspace, with a particular emphasis on the key message for 2020: “If you connect it, protect it.” If everyone does their part – implementing stronger security practices, raising community awareness, educating vulnerable audiences or training employees – our interconnected world will be safer and more resilient for everyone.

About the Author

Del Aden is a UK-based Enterprise Security Architect and Solution Consultant with expertise in Digital Transformation, Cyber Security, Data Governance and Business Continuity. Building & running Digital Transformation programs, Security Strategy and Strategic Consulting. Del is also an astute speaker, a trainer and a technology journalist. Contact: [email protected] | WhatsApp:+44 7973 623 624 | Web: www.delta3.co

Editorial: Renegotiate oil contracts that are dormant

October 14, 2020

Overdependence on gas imports hurting investment in local sector

The Africa Centre for Energy Policy (ACEP) has again raised concern that government reviews exploration contracts of companies that have failed to invest in their oil blocks.

About 12 oil agreements awarded prior to 2016 are said to be idle. Delay in exploring and developing these blocks, ACEP contends, is denying the state of an opportunity to expand and sustain its oil industry, as well as, revenue for much-needed development.

ACEP believes a review of these contracts, will afford government an opportunity to renegotiate, or where possible cancel such deals because some of the companies holding oil blocks, lack the financial and technical capacity to execute them.

According to ACEP’s Head of Policy Unit, Pauline Anaman, after seven years if a company fails to make a discovery, the law requires that it relinquishes the block.

In spite of this, and repeated calls by ACEP, 12 oil blocks awarded between 2007 and 2016 remain idle.

Consequently, Ms Anaman insists ACEP will continue to call on the government to review existing petroleum agreements, and sanction non-compliant contractors.

She made this known at the launch of Ghana Contract Monitor Platform, an online tool that provides update on work progress of non-producing extractive sector companies who have valid agreements with the Government of Ghana to explore, develop, and produce petroleum and mineral resources in the country.

Evidence points to poor due diligence done on the financial and technical competences of the companies during contract award processes, as well as, government’s failure to strictly enforce contractual terms and impose sanctions upon breach.

That is why publicly available data on the performance of the companies would aid civil society and interested parties track performance. We believe this is crucial for transparency in the petroleum sector and the fact that resources embedded in the country’s soil and territorial waters are held in trust for the people of Ghana by the President, which entails that they have to be abreast with happenings in the sector.

That is why ACEP’s observation that the petroleum laws are being breached by some oil companies who have failed to develop their oil blocks is of utmost importance. This is because it is in breach of our petroleum laws.

The rationale of the platform is to ensure that contractors do not hold Ghana’s blocks for speculative reasons and that contract transparency is ensured.

New Energy Laboratory system will reduce electricity consumer concerns

A newly inaugurated Energy Laboratory system set up to monitor operations of electric utility companies is expected to reduce consumer complaints by about 50 percent.

According to the Public Utilities Regulatory Commission (PURC), the lab will enable it to improve its monitoring of the quality of service and also assess the integrity of meters used by the regulated electric utilities.

The laboratory is equipped with a state-of-the-art stationary reference meter test bench is designed to test up to five electricity meters simultaneously.

Executive Secretary of the PURC, Mami Dufie Ofori believes that the system will cut down about 50 percent of the complaints, the Commission gets from electricity consumers on metering challenges.

The system, according to the Executive Secretary of the PURC, is more technologically advanced and is swift.

Consumers of electricity power service in the country have long had issues with metering and charges and have long complained that the charges do not reflect the amount of electricity consumed.

PURC is responsible for setting tariffs to ensure competition and international best standards.

Act 538 which set up the PURC stipulates the commission to consult with stakeholders comprising both the utilities and consumers before approving price increases.

The quarterly automatic tariff-adjustment formula introduced by the PURC in 2011, incorporates fluctuations in crude/gas prices, foreign exchange rates, the hydrothermal generation mix and changes in the consumer price index has not been implemented to the letter because the government often interferes in the market price-setting mechanism.

Subsidized tariffs have distorted the current pricing regime to the extent that full cost recovery by the IPPs is near impossible.

Ms. Dufie Ofori stated that even though the previous system has served the Commission for a long time, it, however, lacked some of the capabilities of the reference standard meter test bench—which includes the ability to test meters with higher accuracy limits.

We are hopeful that with the new laboratory system will assuage consumer complaints and provide accurate metering to the satisfaction of all stakeholders. The new laboratory system will help the commission test insulation resistance, high voltage, no-load, meter constant and Meter accuracy among others.

She explained that all these tests are crucial in calculating the bills of consumers to avert the exploitation of ordinary people. Once this new system will ensure improved service delivery for consumers, then we are all for it.

Nobel Peace Prize goes to UN World Food Programme

October 14, 2020

Photo: The WFP says it provided assistance to almost 100 million people last year, Reuters

The 2020 Nobel Peace Prize has been awarded to the United Nations World Food Programme (WFP) for its efforts to combat hunger.

The Norwegian Nobel Committee said the WFP had acted “as a driving force in efforts to prevent the use of hunger as a weapon of war and conflict”.

The prize is worth 10m Swedish krona (US$1.1m; £872,600).

The WFP, the 101st winner of the prize, said it was “deeply humbled”.

“This is in recognition of the work of WFP staff who put their lives on the line every day to bring food and assistance to more than 100 million hungry children, women and men across the world,” it said on Twitter.

WFP head David Beasley told the Associated Press news agency it was “the first time in my life I’ve been without words”.

Some 211 individuals and 107 organisations were nominated for the prize this year. Under the Nobel Foundation’s rules, nomination shortlists are not allowed to be published for 50 years, and the organisation says any speculation ahead of the announcement is “sheer guesswork”.

The World Health Organisation and climate activist Greta Thunberg were among the favourites to win this year.

What else did the Nobel Committee say?

Chairwoman Berit Reiss-Andersen said that with this year’s award, the Norwegian Nobel Committee wanted to “turn the eyes of the world to the millions of people who suffer from or face the threat of hunger.

“The World Food Programme plays a key role in multilateral cooperation in making food security an instrument of peace,” she told a news conference in Oslo.

Image copyright EPA Image caption Berit Reiss-Andersen announced the winner in Oslo

The Nobel Committee said COVID-19 had further boosted the group’s importance.

“The coronavirus pandemic has contributed to a strong upsurge in the number of hunger- victims in the world,” it wrote in a statement.

“In the face of the pandemic, the World Food Programme has demonstrated an impressive ability to intensify its efforts.”

Who are previous Nobel Peace Prize winners?

The Nobel Peace Prize last year went to Ethiopian Prime Minister Abiy Ahmed, whose peace deal with Eritrea ended a 20-year military stalemate following their 1998-2000 border war.

Former US President Barack Obama won the prize in 2009, for “his extraordinary efforts to strengthen international diplomacy and cooperation between peoples”.

Other notable winners include former US President Jimmy Carter (2002); child education activist Malala Yousafzai (shared 2014); the European Union (2012); the United Nations and its secretary-general at the time, Kofi Annan, (shared 2001); and Mother Teresa (1979).

What’s the background?

The Nobel Prize is one of the world’s most important awards.

It was started in accordance with the will of Swedish inventor Alfred Nobel, with the first award handed out in 1901.

Nobel Prizes are awarded in several categories to people “who have conferred the greatest benefit to humankind” in the previous 12 months.

The recipient of each Nobel Prize receives three things:

A Nobel diploma, each of which is a unique work of art
A Nobel medal
A cash prize, which is split between winners when there is more than one. They have to deliver a lecture to receive the money

There have been some years when the prize has not been awarded – mostly during the two world wars.

Nobel Foundation rules state if nobody deserves the prize in a particular category, it is not awarded and its prize money is kept for the following year.

MTN to deploy AI, others to fight MoMo fraud

October 13, 2020

MTN Ghana has said it continues to invest in its security systems including acquisition of Artificial Intelligence (AI) technology as part of its effort to secure the Mobile Money (MoMo) platform against activities of fraudsters.

Just a year ago, MTN Ghana launched a comprehensive security programme called the Marshall Plan, which also encompasses all the security around its MoMo platform. Additionally, MTN Ghana indicates that it maintains a strong partnership with the Ghana Police Service, to forestall the activities of fraudsters and track cyber-crimes.

Prosper Sossoe, MTN’s Mobile Money Intelligence and Analytics Manager, for instance, said about 50 MoMo fraudsters have been arrested, since the beginning of the year, working in partnership with the Ghana Police Service. He added that prosecution of these fraudsters would soon commence.

Meanwhile, he explained that fraudulent activities are socially engineered and require strong awareness creation as one of the remedies. This, he said, the company is doing through the education of its customers and the general public, to make them more vigilant on the activities of fraudsters.

Mr. Sossoe, who was responding to questions from journalists during the ‘MTN Editors Forum’ for its Northern Business District,’ said some of the feedback obtained shows that customers are able to detect and report the activities of perceived fraudsters.

Sam Koranteng, Corporate Services Executive (CSE) of MTN Ghana, said they are aware of the development in Uganda where a third-party system connecting to multiple mobile money operators was compromised.

He said MTN Ghana is monitoring the process of the investigations closely while assuring customers and the general public that the network operator, MTN Ghana, continue to remain vigilant to it security and systems among others.

He disclosed that since 2019 about US$300 million network investments have been made while also making some significant investment in various communities across the country. Notwithstanding some of the setbacks brought as a result of the pandemic, Mr. Koranteng assured that MTN Ghana is on track to become a digital operator by end of 2023.

The need to embrace electronic book publishing

October 13, 2020

The world has experienced several outbreaks of diseases in the past century. All these pandemics had their positive and adverse effects on the world, as well as the lives of individuals. The novel coronavirus disease (COVID-19) is no exception.

This pandemic has brought about a total disruption in various activities. We are now experiencing what is called the ‘new normal’ even though the world seeks an escape from this pandemic. The publishing industry, like many others, has not been immune to the adverse effects of the COVID-19 pandemic.

In March 2020, President Akufo-Addo imposed several restrictions on the country in order to curb the spread of the virus. As a result, all schools were closed down.

This was a big disruption to the operations of all major players in the book industry—such as authors, publishers, printers, bookbinders and booksellers—in the country since most of them generate their income from the production of educational materials.

After several months of economic downturn, restrictions are being eased, yet schools are not fully operational. The easing of the restrictions has not taken away the downturn of the book industry.

Looking at the brighter side, this pandemic has turned out to be a blessing in disguise. COVID-19 opened the gateway to explore other means where activities could go on virtually. There has been a wake of new technologies to reach out to customers or clients, work colleagues, church members, etc.

This is also the period for publishers to solidly embrace electronic book (e-book) publishing to reach various target readers and audience. Electronic book publishing has been heralded as one of the worldwide solutions for the dissemination of information. Indeed, much attention has been drawn to e-books in recent times.

Although internet usage in Ghana has increased to an appreciable level, e-book publishing in the country is still underdeveloped and lagging behind. COVID-19 should become an eye-opener for many traditional book publishers to advance towards harnessing the importance of e-book publishing, par with the traditional book production which involves printing and binding. It is therefore time for publishers to appreciate e-book publishing more and give it a significant level of recognition and acceptance.

The advent of e-books gives publishers the opportunity to broaden their readership even beyond the country. Since e-books are geographically boundless, it grants the publisher wider engagement and readership. The flexibility of e-books, coupled with its convenience, is one of the factors that should catch the attention of both local publishers and readers. Readers have the opportunity of storing a number of e-books on their e-reader devices, hence making it convenient to use.

Electronic books can be accessed on e-book readers or Personal Digital Assistants (PDAs) such as smartphones, iPhones, iPads, and kindles. Interestingly, the use of e-books with PDAs are easy and interactive. Furthermore, the visually impaired are not left out when it comes to electronic books since the Digital Accessible Information System (DAISY) is available. DAISY is a standard technology for “digital talking” or audiobook, specifically designed to be used by people with print disabilities and the visually impaired.

Major concerns raised by some publishers in the country, which make them skeptical of electronic book publishing are the protection of their copyright and e-commerce of the books on online platforms. Publishers must be assured that their copyrights with e-books are protected through Digital Rights Management (DRM). Digital Rights Management protects the copyright of e-book authors and publishers by restricting illegal copying, sharing, and selling of the electronic book. For example, when an e-book is bought or downloaded on a particular device, that device cannot share the e-book to any other device. Hence the book stays on that particular electronic reader.

With respect to some difficulty in the e-commerce of electronic books on international online marketing platforms, there are organisations in Ghana, such as Azalia and Worldreader to assist publishers to sell their books. Azalia is a local online bookstore which serves as an online market for selling e-books. This platform was created to promote the works of authors and publishers in the country. It is easier for publishers to sell their books on this platform.

In conclusion, electronic book publishing is certainly a worthwhile consideration for authors and publishers in Ghana. E-book publishing has prospects; therefore, it is very expedient for traditional publishers in the country to upgrade their technical know-how in order not to lag behind this new technology. Publishers should embrace this new era of publishing with optimism.

The writer is the Production Services Manager, Ghana Book Development Council

The public’s business

October 13, 2020

Fifty years ago, Milton Friedman published an article in the New York Times that articulated what has come to be known as the Friedman doctrine: “the social responsibility of business is to increase its profits.” It was a theme he had developed in his 1962 book Capitalism and Freedom, where he argued that the “one and only” responsibility business owes to society is the pursuit of profits within the legal rules of the game.

The Friedman doctrine put its stamp on our era. It legitimized the freewheeling capitalism that produced economic insecurity, fueled rising inequality, deepened regional divides, and intensified climate change and other environmental problems. Ultimately, it also led to a social and political backlash. Many large businesses have responded by engaging in – or paying lip service to – the notion of corporate social responsibility.

That notion is reflected in another anniversary this year. The United Nations’ Global Compact, launched 20 years ago, takes direct aim at the Friedman doctrine by trying to persuade businesses to become agents for the broader social good. More than 11,000 companies operating in 156 countries have signed on, making commitments in the areas of human rights, labor and environmental standards, and anti-corruption.

John Ruggie, the scholar who played a key role developing and managing the Global Compact, describes it and similar initiatives as transnational efforts that help firms develop social identities. By promoting behavioral norms, such initiatives enable firms to self-regulate. As such, Ruggie argues, they fill the vacuum created by the decline of traditional forms of regulation by national governments and international public organizations, making them an important tool for the rebalancing of market and society that we need.

Leading business professors, such as Rebecca Henderson of Harvard and Zeynep Ton of MIT, have been making the case that it is in corporate leaders’ long-term interest to take care of the environment or their workers. A year ago, the US Business Roundtable joined the bandwagon with a revised statement of corporate purpose, committing to deliver value not just to shareholders, but to “all stakeholders,” including employees, customers, suppliers, and communities. The statement was signed by CEOs of nearly 200 major companies with a combined market capitalization exceeding $13 trillion.

And yet, despite the groundswell of private-sector support for corporate social responsibility, the effectiveness of relying on companies’ enlightened self-interest remains unclear. A recent analysis by Harvard Law School’s Lucian Bebchuk and Roberto Tallarita provides a sobering counterpoint.

Bebchuk and Tallarita conclude that initiatives such as that by the Business Roundtable are “largely a rhetorical public relations move”: they are not reflected in actual corporate governance practices and do not engage with the difficult trade-offs that would be required if stakeholder interests were taken on board. Moreover, such initiatives could backfire by “raising illusory hopes around the positive effects for stakeholders.” So, government policies that regulate how businesses deal with their workers, local communities, and the environment remain of fundamental importance.

Proponents of stakeholder capitalism do not necessarily downplay governments’ role. Some, such as Henderson, would argue that socially responsible business makes it easier for governments to do their proper job. In other words, government regulation and corporate stakeholderism are complements, not substitutes, as Bebchuck and Tallarita believe.

But what if corporations are so powerful that they design the regulations themselves? The Financial Times columnist Martin Wolf recently wrote: “I used to think Milton Friedman was right. But I have changed my mind.” The flaw in the Friedman doctrine, Wolf explained, is that the rules of the game according to which corporations would pursue their profits are shaped not democratically, but by the “dominant influence” of money. The rules are corrupted by corporations’ subversion of the political process through financial contributions.

But taking money out of politics, as Wolf recommends, would not solve the problem entirely. The reason is that so-called epistemic capture is as important as financial capture. Regulation and policymaking require detailed knowledge of the circumstances facing firms, the available possibilities, and how these possibilities are likely to evolve. In environmental regulation, finance, consumer safety, antitrust, or trade policy, government officials have ceded control to corporations because it is corporations that determine how knowledge is produced and disseminated. This gives them the power to determine how problems are defined, which solutions are considered, what the technology envelope looks like.

In such circumstances, it is difficult for governments to set socially desirable ground rules without significant input, and hence influence from firms. This calls for a different mode of regulatory governance, according to which broad economic, social, and environmental objectives are set by public authorities, but refined (and occasionally revised) in a continuous process of iterative collaboration with firms. While getting the private-public balance right is difficult, there are successful examples of such collaboration in technology promotion, food safety, and water-quality regulation.

Ultimately, though, the only real solution to the conundrum is to make the business itself more democratic. That means giving employees and local communities a direct say in the way firms are governed. Firms can become a reliable partner for the social good only when they speak with the voices of those whose lives they shape.

Dani Rodrik, Professor of International Political Economy at Harvard University’s John F. Kennedy School of Government, is the author of Straight Talk on Trade: Ideas for a Sane World Economy.

Copyright: Project Syndicate, 2020. www.project-syndicate.org

The virus, the distance and the curve (cont’d)

October 13, 2020

…Workplace communications in the pandemic

Google, Yahoo, Facebook, Samsung and Norwegian telecommunications giant Telenor are but a few of the organisations that ensure that the office spaces are designed in such a way that employees get to “bump” into each other a lot more. In March 2015, Facebook opened the world’s largest open floor plan in the world, which is said to be 430,000 square-foot and it is designed to house 2,800 employees. That is staggering. What makes this even more interesting is the fact that it is said that Mark Zuckerberg has a desk right in the middle of the space.

According to the designers, the goal was to “create a space that’s eco-friendly and reflects Facebook’s mission to connect people.” According to Facebook’s Chief People Officer, Lori Goler, the new office “really creates an environment where people can collaborate; they can innovate together.” According to her, “There’s a lot of spontaneity in the way people bump into each other, just a really fun collaborative creative space.” She is then quoted as saying “You can’t really can’t walk through this space without bumping into people.” Right there is the main reason for the new designs of these firms—to get employees to “bump into” or interact more with each other.

Samsung’s new Silicon Valley offices tell a similar tale. The office space located in San Jose has a total of 1.1 million square feet and can accommodate up to 2,000 employees. The design of the office is said to encourage “impromptu, spur-of-the-moment interactions that are the genesis of many great ideas.” By the way, Samsung spent $300 million on that building. They must really know what they are doing.

It is clear from all this that “accidental” interactions among colleagues is now being made more intentional. These organisations know that the closer employees huddle together, the better the communications between them, and by extension, the more productive the organisation becomes. If companies with market caps and net worth in hundreds of billions of dollars are redesigning their office spaces to ensure that their staff get to communicate more frequently, then there is something they know that the average business might be unaware of.

This then begs the question; if productivity is directly affected by proximity within an organisation’s set up, what would be the implications of social distancing, as demanded by this pandemic, on the success of projects?

What will be the fallouts of the staff rotation policies that are deliberately meant to keep employees away from each for fear of catching the virus? In a time when sales are at historic lows across several industries, will it not be a double agony if productivity also begins to suffer due to social distancing among team members? How are businesses supposed to maintain social distancing protocols while ensuring that staff still get into greater proximity with each other to enhance effective communication? These are questions that every business needs to answer as we slowly trudge through this pandemic.

For starters, the Allen Curve asserts that communication drastically falls beyond 8 metres, therefore the current 2 metre-spacing required the COVID-19 protocols will mean that things are not so bad at present. Some level of proximity can still be maintained so that effective communication can still go ahead, especially if the directive on the use of nose masks is strictly adhered to.

The greater concern is for those organisations whose staff are actually not coming across each other at all. There are people who have not been laid off but they are not going to work at the moment. One can only imagine what effect this will have on communications among these employees and by extension, productivity of the organisation by the time the company resumes operations.

If organisations are being forced to rotate their workforce such that some are coming on certain days and others on other days, then the kind of proximity Allen called for, to facilitate better communications, will greatly suffer. And as communications suffer, it becomes more likely that productivity will begin to decrease, as predicted by Allen.

Beyond the effect on the lack of proximity on the communications between employees, it is critical to observe that even communication with customers is also being negatively affected. If regular communication has positive effects for colleagues in the same office, then it is not farfetched to see how regular communication with customers would also have positive effects on the relationship. However, the inability to regularly communicate with one’s customers means that customer service is also going to suffer during this period.

In the current dispensation, customers are having to wait longer for certain decisions to be taken. A decision that would have taken a day is now taking a week. This is because one of those in the chain of decision-making might be off for this week and will be available in a week’s or fortnight’s time.

If social distancing is here to stay, at least for the foreseeable future, then organisations must begin to find new ways of ensuring that employee communication does not decline in any way, shape or form. In fact, the best advice would be to put in place structures and systems that will enhance communication even while employees are apart from each other.

While organisations are waiting for things to return to normal for all staff members to return to work, it is crucial that activities are organised to ensure that staff keep communicating regularly with each other. Since we have been cut off from interacting as we used to, we have no choice than to go for the next best thing—voice and video calls. Technology gives companies the opportunity to do just that. From Zoom, Google Meets, Microsoft Teams, etc., there is enough opportunity available for organisations to ensure that even though staff are at home, they get to communicate regularly among themselves. It will be helpful to hold regular meetings using these media of communication to ensure that communications among employees do not drop significantly.

Initiatives of this nature do not even have to come from top management, heads of departments and units can easily put together these virtual meetings. The task of ensuring that communications do not suffer during this pandemic should not be left to top management alone.

As a matter of fact, since small group gatherings have not been affected by the protocols of this pandemic, it should be easy for units to be able to meet regularly to ensure that the team bonds well. Individuals within a particular unit, department or section of an organisation can set aside a specific time when they will all log on or join a conference call to catch up. This will be most helpful in building the kind of effective communication that Allen alluded to.

It is true that to foster greater communication among colleagues during this pandemic, businesses might have to invest a little more into systems and machines that facilitate effective communication. Some new gadgets and equipment might have to be procured and individuals set up to communicate remotely. There will also be an increase in the amount spent on voice and data packages during this period. This should not be a problem, however, since the benefits according to Allen are quite pronounced.

As organisations grapple with the challenges of communication among employees during this pandemic, it is interesting to note that behavioural scientists have stumbled on a very fascinating phenomenon during this period. It is being discovered that people are communicating at a much deeper level these days. It has been discovered that even individuals working in the same organisation who would not have normally communicated with each other are doing so now.

Probably the thought of our own mortality is leading people to connect more intimately with each other. With the number of people passing away by the day, it makes sense to reach out to others. If a colleague at work calls you, regardless of the kind of relationship you had with the one pre-COVID-19, you are more likely to pick the call. Not knowing what the call is all about will even make you want to talk the one the more. Chances are, under these conditions, the conversation with that person might be even more meaningful than you might expect.

In thinking ahead, it is important to consider the fact that there is still not much known about this virus. There are claims that it is evolving and if that is true then our protocols might also evolve accordingly. We might have to hanker a little while longer than anticipated. The WHO might have to, and it actually does, review its notes on how to handle the virus regularly. The current protocols might be revised and with them, the distance recommended for social distance might also be reviewed.

It is becoming abundantly clear that even if a globally-accepted vaccine is to obtained before the close of 2020, it would still take quite a while before things will return to the pre-pandemic normal we were used to. It seems we have to make the best of the current situation, by observing the necessary protocols until such a time when things will change. Social distancing has always been with us but the kind of emphasis placed on it during this time has made it a lot more pronounced. This might be around for a while and so we have to psyche our minds accordingly.

The expectation is that by the end of the first quarter of the year 2021, there would be an effective vaccine to deal with the COVID-19 virus. However, even if this turns out to be true, it would take another couple of years for everyone on this planet to get vaccinated. When we get to that time, it is important for organisations not to lose sight of the importance of ensuring that employees get closer to each other and to communicate more effectively. Leaders must ensure that the re-entry and recovery of the entire organisation is done in such a way that communication does not suffer. Because when the curve is eventually flattened, the Allen Curve will still hold true.

Agrihouse Foundation secures lands for agric training and demonstration center

October 13, 2020

Alberta Amos — Alberta Nana Akyaa Akosa, Executive Director of Agrihouse Foundation, with the chief and people of Bamvum

Agrihouse foundation, a non-governmental agricultural capacity building, innovation and project management organization, has been allocated plots of land for the construction of an agricultural training and demonstration center in Tamale, the Northern regional capital.

The land allocated by the Bamvum Lana, Chief Mahamadu Abdulai is to help train more youth on entrepreneurial skills as well as whip the interest of the youth to venture into agriculture to grow the sector.

This came to light when staff of Agrihouse Foundation paid a courtesy call on Bamvum Lana Mahamadu Abdulai at his palace to show appreciation for honouring the invitation to grace pre-harvest event held in Tamale and also for the release of the land for the execution of the project.

The chief of Bamvum commended the organisation for their contributions towards the growth of the economy in the region and that it was ready to assist with the acres of land needed to achieve the set goals. According to him, the land when developed would bring development that would curb poverty in the area and that the burden of farmers would be curtailed.

He noted that the region has lots of agricultural potentials that when well tapped could bring jobs to the people that would also reduce the pressure on the government to get the youth jobs. “As traditional leaders, we have been supporting other institutions with lands for their project to benefit the region as a whole,” he said.

Alberta Nana Akyaa Akosa, Executive Director of Agrihouse Foundation, thanked the chief and the people of Bamvum for their swift response to the request made for the allocation of the land for development projects to enhance economic activities in the region.

She noted that the organisation has been training farmers and the youth on capacity building and one of the challenges confronted in the execution of the programme is lack of permanent venue hence the request for the support of the land for the project.

“We thought as an event grounded in the Northern region for 10 years that seeks to develop and empower farmers as well links farmers to the market and investors to appreciate the agricultural value chain, the cycle and the opportunities, we believe it is time to also scale up. Also the Northern Region is vastly developing and therefore the need to initiate programmes that would help the women and the youth to alleviate poverty,” she said.

According to her, the organisation trains farmers, youth and women as well support them to scale up their agribusinesses adding that it is being done through conferences, practical sections and efficiency.

Airtel selects Ericsson to modernize its 4G network in Kenya

October 13, 2020

Airtel Africa is expanding its strategic partnership with Ericsson to enable 4G coverage in Kenya. With Ericsson’s Radio Access Network (RAN) and packet core products for 4G, Airtel subscribers will experience enhanced quality of voice and data.

The network modernization deal, signed in August 2020, is in line with the Kenyan Digital Economy Blueprint Vision 2030 which aims to provide robust connectivity in rural areas and facilitate e-commerce platforms. The modernization deal will drive the simplification and upgrade of the existing network and future-proof it for the anticipated rapid mobile expansion in the country.

With Ericsson Radio System and Packet Core solutions, Airtel Kenya’s network will have 4G coverage, while driving enhanced use cases in both the consumer and the enterprise segments. Ericsson technology shall make the network in Kenya ready for 5G deployment.

Prasanta Das Sarma, CEO at Airtel Kenya says: “Robust and secure communications are an essential component of a digital society in Kenya. We are firmly anchored to the strategy of delivering reliable connections across the country and are looking forward to expanding the high-quality mobile broadband services to our subscribers.”

Fadi Pharaon, President of Ericsson Middle East and Africa, says: “Together with Airtel, we will implement this project that aims to establish an advanced LTE network in Kenya, providing Airtel’s customers an enriched experience – both in the consumer and business segments. Through this partnership, we reaffirm our ambition to set #AfricaInMotion by partnering with Airtel to grow and support an increasingly digitalized society in Kenya.”

Furthermore, Ericsson will deploy its Kathrein Mobile Communication Antenna portfolio which will help provide additional enhancement to the network’s robustness whilst Ericsson’s technologically advanced network management system, Ericsson Network Manager will be utilized to support Airtel in managing the network seamlessly by integrating various network elements on single platform.

STN conference set to discuss business solutions to challenges posed by the COVID-19 crisis

October 13, 2020

Stanford Seed Transformation Network Ghana is set to host the third edition of its annual flagship Business and Leadership Conference on 22^nd October, 2020 to empower businesses to embrace changes and seek solutions that will ensure business sustainability and success despite the COVID-19 challenges.

This year’s conference is under the theme “Embracing forced change within diverse cultures” with a focus on the African Continental Free Trade Area (AfCFTA) and its implications for businesses. It will be streamed online on Facebook, YouTube and Zoom due to the COVID-19 pandemic.

Renowned and experienced business leaders such as Dr. Tony Oteng-Gyasi – CEO, Tropical Cable and Conductor Ltd, Nana Dr. Michael Agyekum Addo – CEO, Mikaddo Holdings, Ms. Esther A. N. Cobbah – CEO, Stratcomm Africa and Mr. David Ofosu-Dorte – Senior Partner, AB & David will share their experiences on how they have leveraged cultural challenges and differences to scale their businesses over the years.

The conference is open to all Stanford Seed Transformation Network members, the general public especially entrepreneurs, government officials, media, and the entire business community who can participate in the conference by registering with the link https://forms.gle/uMijHVeig5siZMa99.

Mrs. Linda Yaa Ampah, President of the Stanford Seed Transformation Network, Ghana and Founder of Cadling Fashions and KAD Manufacturing LTD, was excited about the upcoming conference which has been enabled by new technologies despite COVID-19. She was confident that through the conference, participants will take home new mindsets, approaches and pragmatic solutions to transform businesses.

She said the theme for the conference is very critical explaining that: “there are concerns about the implementation of the African Continental Free Trade Area (AfCFTA) and its impact on Ghanaian businesses. We are therefore seeking to use this conference to facilitate the sharing of knowledge, information, experience and skills among stakeholders in business to brace ourselves for the challenges ahead in this COVID-19 era”.

“The AfCFTA secretariat is targeting January, 2021 for the commencement of the implementation of the Pan African free trade agreement following its postponement due to the outbreak of the corona virus. It is imperative that Ghanaian businesses ready themselves for the benefits that AfCFTA brings during COVID-19 and post COVID-19, a pandemic which is a major challenge for many businesses,” she said.

‘My Voice, Our Equal Future’ International Day of the Girl – 2020

October 13, 2020

An Op-ed by Charles Abani, UN Resident Coordinator, Ghana

Peace is 16 years old. She wakes up twice at dawn to breastfeed her 6-month-old baby. As one of the brightest students in Katejeli Junior High School, Peace has won the admiration of her peers, teachers and her headmaster. “I am very intelligent and do well in class, so the teachers like me a lot. My favourite subjects are mathematics and social studies” she says.

Peace almost gave up the idea of returning to school after delivering her baby. Through relentless encouragement of her teachers and sister in law, she re-enrolled and is back in the classroom. She drops off her baby with her brother’s wife before she gets to school at 6:30 am. During the 9:30 am and 12:30 pm breaks, she dashes off to breastfeed her baby. “I dream of becoming a midwife” she states, adding that she wants “to be there for the young mothers and their babies during childbirth. I feel they need someone at that point in their lives to assure them that pregnancy is not the end of life. When I got pregnant, I thought my education was over. Now I have a second chance.”

International Day of the Girl Child, (IDGC), has been observed annually since 2012. The Day draws attention to the triumphs and challenges of girls like Peace. It is both a celebration of the lives of girls and a call for action to address the critical issues that affect them, recognise their right to full participation in society and put their interests at the heart of development.

The Ghana Statistical Service projects that there are currently over 3 million adolescent girls in Ghana – the largest number of adolescent girls in the country’s history. This is a huge resource for Ghana. Their empowerment presents Ghana with great potential for female leaders, entrepreneurs and change-makers.

Progress for adolescent girls over the last decade is creating momentum to invest in adolescent girls and achieve a positive impact on their lives and it is worth noting that there has been gains towards realising gender equality and the empowerment of women and girls in Ghana. The availability of policies, laws and frameworks to promote gender equality, prevent Sexual and Gender-Based Violence (SGBV), and accelerate actions to reduce adolescent pregnancies and end harmful practices have made positive impacts. This notwithstanding, many challenges remain. A joint UNICEF, Plan International and UN Women report reveal that progress for adolescent girls has not kept pace with the realities they face today. The ‘A New Era for Girls: Taking stock of 25 years of progress’ reviews progress for girls, and lack of, over the last 25 years. Sociocultural barriers, including SGBV, persist in some parts of the country.

A 2016 Domestic Violence Survey conducted by the Ghana Statistical Service and the Ministry of Gender, Children and Social Protection, suggests that over 38 per cent of girls in the country aged 15–19 years, reported having experienced at least one act of sexual violence. At the same time, about 32% of women and girls, aged 15-24, think that wife-beating can be justified due to socio-cultural norms and stereotypes (Ghana Demographic and Health Survey, 2014). In a recent UNICEF Country Profile of adolescent girls, 1 in 5 girls are at risk of marriage by age 18, compared to 2 per cent of boys and 14 per cent of adolescent girls aged 15-19 years have begun childbearing. At the same time, 1 in 10 women aged 15-24 years name pregnancy and family or marriage as reasons to stop school and 1 in 5 adolescent girls feel excluded from education, and social activities and work whilst menstruating.

While gender parity in education has been achieved at primary and lower secondary levels, gross enrolment is only 50 per cent in senior high schools. Ghana Demographic Health Survey indicates that gender differences tend to become more significant at the secondary level. Even in the wealthiest households, more boys attend secondary school than girls. Girls are generally outperformed by boys in learning outcomes and girls’ performance in mathematics and science is low across Ghana’s 10 regions. Only 4 out of 10 JHS girls pass the Basic Education Certificate Examination (BECE) and proceed to Senior High School (SHS) to study mathematics and science. Girls with disabilities remain particularly excluded, face discrimination at all levels and are frequently rendered invisible.

The COVID-19 pandemic has caused considerable hardship in Ghana, affecting all aspects of life; health, education, food security, employment and livelihoods. Threats have included the loss of household income, school closures and interrupted education, increased domestic tasks/care burden, limited access to services such as health, sanitation, education and social welfare and a higher risk of family distress and intimate partners’ violence (IPV) and SGBV.[1] Online exploitation and abuse are exponentially on the rise in Ghana and more time spent at home has also put girls at increased risk.

All of these are exacerbating existing gender inequalities thereby highlighting the vulnerabilities of adolescent girls including those marginalized such as adolescent mothers, girls with disabilities, refugee girls and the ‘Kayayei’.

Nevertheless, these challenges present opportunities for change. In Ghana, there has never been a more critical time to push for the empowerment of adolescent girls and invest in their future. As these girls finally return to school, it is vital to remember the extra hardships they may have faced and responded accordingly. It is also important to respond to the vulnerability of marginalised girls in an integrated manner in order not to jeopardise progress towards the achievement of gender equality and the empowerment of girls.

Building back better and sustaining the gains made will require commitment from multi-sectoral state agencies (at the national and decentralized levels) and the will of communities to improve girls’ access to education and skills, health, hygiene and nutrition while addressing the issue of violence (particularly sexual violence), and teenage pregnancy. It will necessitate challenging the power imbalances that perpetuate inequality and exclusion. It will necessitate enabling young mothers to return to school, girls being provided affordable menstrual hygiene products and an end to child marriage and harmful practices. It will necessitate supporting girls to achieve their potential in science, maths and technology. It will necessitate the inclusion of the most marginalised and ensure safe spaces for girls from all backgrounds to flourish as activists, imagining and advocating for their own equal future.

Coordinated and combined, these efforts will increase girl’s life opportunities, enabling them to better access the labour market and accelerate human development. These efforts must also acknowledge girls as the force that they are and recognise their pivotal role in our future as doctors, mothers, mathematicians, market vendors, businesswomen, peacemakers, policymakers, teachers, artists and pilots.

To this end, International Day of the Girl Child is a rallying call for Government, the private sector, development partners and civil society to not only pull together for girls but ensure that their full participation is central to the discussion going forwards.

Let’s make their voices count for an equal future.

^[1] UNICEF Ghana. 2020. Socio-economic impact of COVID-19 on Adolescent girls in Ghana.

Family Reading: An avenue to reflect on the past and present to shape the future

October 13, 2020

Some of the major reasons which inform our reading for all kinds of reading books are obtaining information and recreation. It must also be stated that the reasons which inform people’s choice of books to read depend on a person’s age, sex and interests. Reading gives society access to past and present information – as well as future possibilities, including the experiences of people, communities, nations and the whole world.

The experiences may be based on real historical facts or creative work of people intended to communicate certain thoughts or beliefs to society. Such rich experiences in the past when read could help readers, especially families, get access to information and knowledge that can help chart and shape the path for a whole generation of people.

Reading books that are commonly read by both adults and children are mostly classified as fiction or non-fiction books. Fiction books or writings are basically imaginary narratives or writings. In other words, such books or writings are not based on historical facts or are not true to life.

Non-fiction stories on the other hand are diametrically opposite to fictional stories or writings. Non-fiction writing is based on factual stories. In other words, they are records of events that really took place. Although fiction and non-fiction literature are different types of writing genre, both convey messages that are of importance for our learning or education.

Apart from these, there are books that are solely written for the purposes of satisfying the reading interest of children. Children, by nature, like stories centred around animals, adventures and fantasies. Such reading literature not only elicits reading pleasure in children but also serve as a means of educating these young ones to cultivate moral principles that shape their future for good.

Most of these reading books, especially those written for Ghanaian children, are based on traditional stories such as folktales, stories around legends, myths and animal stories. The stories are couched and adapted in such a way that they are narrated for the instruction or teaching of children. Children, therefore, read for pleasure, and at the same time learn from the mistakes or wise decisions of characters in the book. Most of these reading books provide lessons on society’s negative habits: such as greed, stealing, murder, selfishness, anger; and positive attributes such as love, humility, hard work and selflessness.

Family reading is very important and has become even more important in this period of man’s history when a pandemic has altered the course of humanity, especially children. It is abundantly clear that society keeps changing, and the way people operate in society continues to change.

In the past, and in our part of the world, it was common to see an elderly woman assemble children by the fireside and narrate to them great stories of the past. Those stories were dramatically and beautifully told, to the pleasure of children. There was no way one would want to miss such stories. Storytelling in the past was one of the sources of entertainment and learning for children. It was also one of the means for keeping bonds with parents. The period was the glue that kept most children close to their parents. Perhaps this moment, when the majority of children are kept in the house, is an opportune time for parents to reflect on the past and present – and see how best they can meet the needs of children in terms of fulfilling their entertainment and information needs.

Creating an enabling environment in the house where reading activities can take place is one of the ways to fulfil recreation and information needs. Most of the stories that were told orally have been written down for the reading and learning of children, and they abound on the market. What the majority of children are looking for is to get parents who are willing to spare them a bit of their time so that they can read and share a story together. Children whose parents cannot read still expect their parents to create an enabling environment for them to read. They may require their parents to sit by them when they are reading or to buy them reading materials as well as give them any kind of motivation that propels them to read.

In conclusion, there is a way families can learn together to the benefit of children. Parents can do so by creating an enabling environment for the whole family to read and learn together. The old days of storytelling for recreation and learning can be replicated at home when families read together.

Families whose parents cannot read can still engage in story-telling activities. By doing so, they engender their wards to look for such books to read and thereby help the children cultivate a life-long reading culture. Such reading periods become an opportune time for the whole family to reflect on the values and lessons which such books offer for both the adult population and children. It also offers an opportune time for parents to address some concerns regarding the general growth of their wards. Finally, children have a chance to ask parents questions on some deeds and misdeeds of certain characters in the books.

The writer is the Literacy Promotion Manager, Ghana Book Development Council

Small arms and light weapons control: role of CSOs critical

October 13, 2020

The promotion of peaceful and inclusive societies is a requisite for sustainable development, and this requires great efforts on all fronts including control over arms flows and crimes, as highlighted by the Sustainable Development Goal (SDG) 16. However, the widespread of small arms and light weapons constitutes one of the major security challenges facing many countries particularly in Africa, which if not controlled, can inhibit the attainment of the SDGs.

To contribute to efforts to address the challenges posed by the spread of illicit arms and weapons, the National Commission on Small Arms and Light Weapons, with funding from the German Federal Foreign Office, and support from the United Nations Development Programme (UNDP), is training Civil Society Organizations (CSOs) in Ghana at a 3- day workshop in Ho. The aim is to equip and build the capacity of CSOs on emerging trends on small arms and light weapons to enhance their advocacy abilities to complement actions by state institutions to control the proliferation of small arms and light weapons.

Mr. Jones B. Applerh, Executive Secretary of the National Commission on Small Arms and Light Weapons, in his opening address at the training, said, “I urge all CSOs to be up to the task to combat illicit weapons and spread of small arms before, during and after the 2020 elections. This is to ensure that Ghana continues to be a peaceful country”.

Addressing the issue of the widespread of illicit arms and light weapons indeed requires partnerships with various actors including CSOs. This is because CSOs are well placed to support relevant institutions to find and implement the needed solutions to fight against the flow of illicit arms and weapons due to their extensive knowledge of the local dynamics, trends and drivers of violence, and influence in the communities. Empowering them is critical for advocacy, monitoring and identification of early warnings of possible outbreaks of violence and conflicts.

The Deputy Resident Representative of UNDP in Ghana, in her remarks at the training, noted that “CSOs willingness to adapt, to be innovative, versatile and more prepared to take risks in order to address their communities’ security concerns, places them in a strategic position to provide the needed support to communities in preventing the proliferation of small arms”.

Issues of artisanal arms manufacturing and trafficking especially in the West Africa region often fuel communal conflicts, create political instability and pose a threat, not only to national security but also to the sustainable development of the African continent. For instance, a research supported by UNDP and the Government of Japan, indicated that about 1.1 million arms were being possessed illegally by civilians in Ghana, posing a threat to human security.

In addition, as of 2018, out of an estimated 1.2 million registered small firearms in Ghana, only 40,000 had their licenses renewed annually. This problem is further compounded since it is difficult to quantify the exact number of craft gun production in Ghana, mainly because this is an illicit activity which takes place in the black market.

Following emerging issues of violence in the lead-up to the country’s general elections, it has become imperative to increase advocacy to control the spread of small arms and ensure the safety of all citizens.

The CSOs training falls within activities under a regional project for the Economic Community of West African States (ECOWAS), seeking to address conflicts in an integrated and a coherent manner in Ghana, Burkina Faso & Côte d’Ivoire. Activities under the project aim to bridge knowledge and awareness gaps on the dangers of small arms and light weapons advocacy, both at a high level and community levels; build capacity and develop sensitization programmes for national institutions to enable them to adjust to evolving trends and situations on illicit arms and weapons.

The Regional Project Manager, Mr. Frederick Ampiah encouraged the participants to consider establishing a CSO coalition that will foster, promote and support the review of legal and regulatory frameworks to reflect current advancements in the sector. Such a coalition he said,” will relook at the role of the national commission from an advisory role to a regulatory role that is able to address the issues of small arms proliferation in the country and the sub-region as a whole”.

There are about 21 CSOs selected from across the country, benefiting from the training.

232 out of 260 1D1F factories on track – Trade Minister

October 13, 2020

Free Trade Area must work on the ground to boost continent’s fortunes — Trade and Industry Minister Alan Kyerematen

The government says 232 out of 260 factories under its flagship 1D1F industrialisation programme are near completion, with some operating at full capacity.

Trade and Industry Minister Alan Keyerematen announced this at the Nation Building Updates held in Accra on Thursday, September 8, 2020, and further disclosed that: “Through the 1D1F government initiative, 76 projects have been completed and are in full operation; 107 projects are under construction; 36 are ready to commence construction, and 13 are in the pipeline to be financed by the Private Finance Initiative (PFI)”.

He was speaking on the theme ‘Industrialising Ghana; One District at a Time’. The Trade and Industry Minister noted that the 1D1F agenda is key to Ghana’s structural transformation. He said it is about time the country moved from an agrarian economy to an industrialised one; and in doing so, the government will provide the necessary support for businesses to achieve this agenda.

The 1D1F is a private sector-led initiative envisioned by President Akufo-Addo to create the necessary conducive environment for businesses to access funding from financial institutions, and other support services from government agencies so as to establish factories and production units in the country’s various districts.

It seeks to change the structure of Ghana’s economy from one that is dependent on import and export of raw material to one focused on manufacturing, value addition and export of processed goods – by processing raw materials found largely in the 275 districts of the country into finished or semi-finished goods.

According to him, 162 of these factories representing 72 percent are new companies, whereas the remaining 64 are existing companies who were rolled onto the programme.

Highlighting the programme’s role toward Ghana’s transformation, Mr. Kyerematen noted that the programme is “here to stay”; and therefore the country must be inward-looking and self-sufficient in certain specific productions by adding value to our natural resource endowments to promote import substitution, and thereby conserve our scarce foreign exchange.

Thoughts of a Nima Boy: A conversation with Professor Wole Soyinka

October 13, 2020

Admiring the sea at the Goree’ Island in Senegal somewhere September 2016, a conversation ensued as regards the status of Chinua Achebe and Prof. Wole Soyinka in Africa.

A lot were said about these two; albeit I cannot recall all that was discussed. One thing that still lingers or rings a bell is the statement made by Abdul Rashid Sambo, the Personal Assistant to the Deputy Minister in charge of National Security.

He opined that, unlike Chinua Achebe whose works were known and could easily be cited by school children in Junior High School, Wole Soyinka’s works were not on that tangent. It is seldom to find a University student in Ghana acquainted with the works of this great mind. It is (in the words of Sambo) “for the high class.”

My voyage in reading had made me unearth writings that sought to juxtapose these two. Haplessly, I wrote them off as Africans doing what they do best, “the duopolization of things” thus, repeatedly comparing things and people. Faintly do you find Africans treat one in his or her writings and class without the mention of others. The reason I partly wrote it off was of two things.

Primarily, his in last literary salute to the world, There was a country: A Personal History of Biafra, Chinua Achebe, described as “remarkable” a group of young men and women from all over Nigeria who started the University College, Ibadan together. He made mention of people like Chike Momah, Theophilus Adeleke Akinyele, Elechi Amadi, Wole Soyinka, J.P. Clark et al. Again, for Chinua at Seventy, Wole Soyinka wrote a very long poem titled ‘Elegy for a Nation’. In it, he scribbled,

“Chinua, I think with you I dare

Be indelicate-we scrape our feet upon

The threshold of moral proof, denying

The ancestors yet awhile our companionship –

May that day learn patience from afar!-

On the stage of Bard, behind the lectern,

Gazing across time to your staunch spirit

Wedded to a contraption we neither make nor men

My irreverent thoughts were –There sits the nation,
All faculties intact, but wheelchair-bound.

Your lesson of the will, alas, a creative valour

Marks the gulf between you and that land

We claim our own.”

Conversely, the aforementioned got nothing to do with what I want to talk about. As far as there is no law that criminalizes digression, I would like to narrate the conversation we had with the Nobel Laureate, Professor Wole Soyinka on Saturday, 26^th September, at the Goethe Institute, Cantonments. An event organized by the e-Ananse Library and ably supported by Writer’s Project of Ghana, Vidya Bookstore, UNESCO, etc. as a Book Chat to discuss his book A Season of Anomy: Covid-19 and the Creative Muse. The audience was made up of seasoned writers, a cross-section of the public and representatives from Pan-African Writers Association, UNESCO and other reputable organizations.

Interestingly, it turned out to be a platform where participants had to learn intriguing and captivating things about Wole Soyinka. Something that was phenomenal as alluded to by Abdul Rashid Sambo. The conversation was spear-headed by the venerated writer and editor whose books are dotted around all respected bookshops in the country, Ivor Agyeman-Duah and he made known very pertinent issues from the good old Professor.

He commenced by reminding the Professor that “we live in new world order and at 86, having had his exile years, survived cancer, had many problems with leadership in Africa, how does Covid-19 compare to what he lived through”?

Without mincing words, Wole Soyinka stated that he disagreed with the ‘new world order, and the expression “new normal” he described it as “one of those convenient expressions that remind us that we have to make certain adjustments.” Further, he explained that “the world is a history of pandemics. There is nothing extraordinary about what happened. We are not out of Ebola yet. There’s SARS still around. HIV took its toll.” He believed that it is just one pandemic out of a plethora of pandemics. Notwithstanding, “humanity has a will to survive.” However, he was quick to add “it’s a miracle that we’ve had this low comparatively speaking level of casualties as a result of COVID-19.”

He lamented what he termed “herd panic in leadership” which left him a bit disappointed. Our leaders are imitating what happened in other places “without reflecting on the very special sociological realities of our society which are very different from others.”

This influenced a lot of measures taken by leaders to manage the pandemic situation which had not been effective and efficient. He figured that governments should have left the local governments to decide how far they would want to go and reach efficiently on a decentralized footing. The professor mentioned that “you have no competence to come from Abuja and impose restrictions on my state.” He opined that this made the public go overboard and could not observe common-sensical restrictions. An interesting view it was from the Professor.

Ivor probed to find out what engaged the Professor in the five months of the lockdown. He ascribed the five months of work in the lockdown as “tragic bliss” and does not regret in any way. He used the lockdown to keep himself in style. Further, he stated that “finding myself lockdown, what else do I do? I just write”.

When asked how his travels were affected, everyone got astounded when he mentioned he hates to travel. When he was younger he moved from one workshop to one conference to another event which was imperative in diverse parts of the world. But travelling according to him “has become a pain in the neck over the years; thanks largely to these irredentists, salvationists of the world who think it’s alright to blow up a plane just for whatever reason.” He narrated how he quarantined in his hometown; Abeokuta with his laptop and a few bottles of wine. He commended the Health department of Nigeria for that efficiency of calling him every day of his quarantine at exactly 12: o’clock to check up on his wellness.

Ivor Agyeman-Duah continued to probe. He revealed how the productivity of Wole Soyinka had increased. Nonetheless, his producer unraveled that the professor has got a novel coming up after many years. He is also engaged in the intervention series; a collection of essays. In December, he is co-directing his most famous play “Death and the King’s Horseman” in Lagos; which made J.P Clark states he could not pinpoint the esprit de corps of the professor. And that he worked like someone who is now gunning for the Nobel Prize. “Where does your energy come from?’ Ivor quizzed. The Professor then said he was guilty of all those charges and gave a litany of travels and places he was in the five months lockdown. He ended on a very serious note by saying “I’m suicidal. Until I work myself out to death, I won’t be satisfied.”

The conversation touched on the social challenges that existed in Africa in 1975 when Wole wrote his second novel and how the social transformation was confronted. It discussed how we can overcome the challenges of our time. The professor believed methods must change since we live in a dynamic world.

He also lambasted those he termed “follow follow intellectuals who he thinks swallowed textbooks hook, line and sinker “without any attempt to relate those principles to the material actualities of their own society”. The Professor wrote A Season of Anomy “as an opportunity to extract from social mores some ideas that could be propelled to the transformation of society in a contemporary situation”. He recounted the fact that those years were not easy years as they had to contest “ideological rigidity”, fighting his own colleagues who had this “sort of monolithic mentality which led to monstrosities where human beings were reduced to statistics”. He also explained how the intellectuals of his time had issues with post-colonial reactionary Heads of state like the Mobutus etc.

A lot of critics also believed that their group of writers were arrogant and classified themselves as Renaissance men. The Professor concurred and added that they saw themselves as ideological agents of change, as the vanguard of the liberation, Pan-Africanism (certainly not the rhetorical but participatory one). He announced that they were contempt to leave the formulation of the post-independent African society in the hands of the politicians. He related how they met with the first generation of nationalists, debated them and interacted with them on the issue of post-colonial constitutions of Africans when they were in the university. However, he realized that most of these leaders just wanted to take the place of the Whiteman and not to change the conditions and situations of the people.

The latter part of the conversation made the Professor reveal how art was useful when he was least occupied, how he grew up in a traditional setting, a musical family, how he used to take artworks for granted until he saw them “being pilfered by expatriates, looted (and looting itself was part and parcel of the degradation of the African society, part of the colonial imperial adventure and unequal relations)”, so he had to do something before all artworks are taken. Adversely, he found our culture being denigrated, insulted by our own people in a rise of religious fundamentalism. He hinted that there was “a multiplicity of motivations” coupled with his basic love for being around artworks and they being around him. A disease, an obsession and a possessive kind of mentality.” It became.

A lot were discussed; which this piece cannot capture in its entirety. One outstanding issue was my realization of his connection to the legendary Fela Anikulapo Kuti and how he remembers him in very simple terms. Fela was his cousin. According to him, it was fascinating to watch Fela’s transformation. He recounted how Fela accompanied him in his first outing and played on the saxophone yet never showed any slight interest in the poetry laden with deep political lyrics because they never meant anything to him. Fela’s music at that time was purely social music.

The Professor expressed an exclamation of surprise that after travelling to the United States of America and met a woman, Fela got his mind turned completely, his views and music turned around completely and he came back preaching Pan-Africanism, African politics, colonialism and other heavy issues deep in his songs. “Women are dangerous”, he said jokingly. I took great delight in that aspect of the conversation because I had read in Fela’s biography Fela: This Bitch of a Life how the woman, Sandra Smith worked on Fela. He wrote “Sandra gave me the education I wanted to know. She was the one who opened my eyes. I swear, man! She’s the one who spoke to me about Africa. For the first time, I heard things I’d never heard before about Africa…. She talked to me about politics, history… She blew my mind really…” She gave him a copy of The Autobiography of Malcolm X which blew his thoughts.

It is worth noting that, it was a great discussion. It was very impactful and revealing; when the chance came for a book signing, I walked over to the great professor and told him “Sir, I do not have your book now. I will get it later but I have a book here written by Ivor Agyeman-Duah and I badly need your signature.” The Professor smiled and said, because it is not my book, you will get a very short signature.”

[email protected]

The Writer is the Executive Secretary of Success Book Club and a Youth- Activist.

NanoLab Foundation donates 2,000 face shields to Ashaiman market women, porters

October 13, 2020

The NanoLab Foundation, a subsidiary of the NanoLab Corporation – a USA-based non-profit organization, has sensitised and donated 2,000 face shields to members of the Ashaiman Market Women’s Association and porters to help curb spread of the coronavirus.

The advent of coronavirus pandemic has brought with it restrictions in the movement of goods and people, as these poses high risk of contracting the virus. Marketplaces have been identified as ‘hot spots’ for spread of the coronavirus due to the high number of people who frequently visit to sell or purchase food items.

The donation is to encourage market women and porters to use the face shields so as to help reduce spread of the coronavirus, which is now understood to have the potential for airborne transmission.

Although it is mandatory in Ghana for people to wear face masks to public places, including markets, this regulation is often flouted by vulnerable groups due to ignorance and their inability to procure face masks and face shields as a result of financial constraints. Particularly for poor market women and porters, the restrictions could also limit their sales and income.

The NanoLab Foundation believes that regular and religious use of face shields together with face masks by the market women and porters who interact closely with buyers and visitors to the Ashaiman Market will help curb the spread coronavirus and ultimately preserve lives. More importantly, the use of face shields as a preventive measure will encourage buyers, and as a result help improve sales and income of the market women and porters.

Dr. David Noye, Chairman of the NanoLab Foundation said: “The gesture is backed by Nanolab Foundation’s vision to help improve livelihoods. We believe the donation and use of face shields by market women will contribute to combatting spread of the coronavirus pandemic in Ghana, and mitigate its negative impact on lives of underserved communities in particular and the economy in general”.

Madam Leticia Ayaaba, Leader of the Ashaiman Central Market Women’s Association – who received the face shields on behalf of the members of the Association and the porters, thanked the NanoLab Foundation for its kind gesture. She said: “The coronavirus pandemic is still with us. We need to be very conscious and take all the necessary precautions to protect ourselves and prevent spreading the virus to others. We can do this by wearing the face shields religiously”. The Association is made up of over 2,000 members engaged in the bulk sale and retail of products comprising legumes and grains, roots and tubers, fruit and vegetables, vegetable oils, fish and meat, alcoholic and non-alcoholic beverages, cosmetics, textiles, detergents and household items. Their activities are supported by over 300 male porters.

NanoLab Corporation is a non-profit charity organisation registered and operating in Georgia, USA, since 2012. The activities of NanoLab Foundation are exclusively for public benefit, covering mainly development, health, education and scientific projects. These include student learning and skills improvement, healthy and improved livelihoods, employment and income generation, community improvement and disaster relief within and outside of the USA.

Food security and public safety should be government’s top priorities

October 13, 2020

Covid-19 continues to have an adverse impact on the global landscape. Assets worldwide are depreciating and bankruptcies abound; gold is a new means of storing wealth; stocks are at their lowest and almost worthless – except those of companies that provide the basics. Tullow that once was trading at over $20 is now trading at $0.20, yes 20 cents!

Bond prices have plummeted as the cost of money has risen and various nations are seeking support in aid from the IMF and World bank.

And here at home, Ghana’s debt is at its highest ever and there are signs that if we could, we would borrow more; especially as the much-heralded and unconventional Agyapa deal heads to the morgue, stillborn.

Over the past few days, I’ve toured the Ashanti region visiting constituencies, towns, villages, branches and homes of the electorate to promote the NDC’s “People’s Manifesto”.

This visit to the branches in the hinterland highlighted the devastating impact of Covid-19 on the disenfranchised and vulnerable in our communities.

Covid-19 has changed the rules of engagement. The hierarchy of the importance of things has changed and people are now focused on the basics-food, public security and earning a living. We are back to the fundamentals – back to basics!

The mantra “Cash is King” prevails; yes cash is back, and those that have cash (liquidity) are in charge and can control the markets.

Cash is King!!

In the villages, there is no money as there are no jobs. Food is scarce hence people are resorting to crime.

The provision of food to the disenfranchised and vulnerable in our societies, public safety, and job creation, should be at the top of any government’s agenda.

Luckily, the rains are in and farms are producing in abundance. Farming is of paramount importance and will help to alleviate food shortages.

Priority measures to increase the production and transportation of food from farms to consumption centres need to be implemented.

The concept of adding value to food – for instance providing silos for long term storage and processing for food preservation – is not readily available or known to small scale farmers. Nor do they tend to use irrigation and other modern agricultural methods and techniques.

As such, initiatives covering these should be provided at a local level, particularly to small scale farmers.

This would have the added benefit of job creation, which would then kick start consumer spending; thus acting as a multiplier to increase the GDP of various local communities and the nation as a whole.

The author is former Executive Director of Standard Chartered Bank Ghana and immediate past CEO of Ghana National Petroleum Corporation.

EDITORIAL: COVID’s impact and debt sustainability issues

October 13, 2020

The World Bank has indicated that Ghana is among countries expected to see fiscal deficit increase significantly and hit double-digits by the end of this year (2020).

In its Africa’s Pulse report (October 2020), the Bretton Woods institution ascribed the trend to loss of revenue and increased spending.

The country now has its public debt figure standing at more than GH¢263billon, representing 68.3 percent of GDP – with external debt forming the largest part at 35.8 percent of GDP. According to the Ghana Revenue Authority, revenue mobilisation in the first-half of the 2020 fell short of its target by 26 percent.

Revenue mobilisation in first-half of the year, fell short of its target by 26 percent, resulting mainly from shortfalls in oil revenue, Customs receipts and non-oil Non-Tax revenues. “Curbing unnecessary spending includes terminating ghost-workers and avoiding permanent increases in public salaries,” a portion of the report states.

“Fiscal authorities need to spend their resources efficiently by cutting non-essential outlays and re-prioritising spending while maximising the impact of such expenditure on economic activity.”

Consequently, the Bank recommends broadening the tax net as a consideration to close the vast fiscal gap created by the coronavirus pandemic. Developing countries are already suffering from the health, social and economic consequences of the coronavirus. Thus, the Bank’s October Africa Pulse report doesn’t come as much of a surprise.

A looming debt crisis would be catastrophic. Particularly, as the government was poised to embark on a series of development projects to improve the country’s socio-economic outlook. However, the onslaught of the pandemic and the need to contain its spread has come with its own consequences.

Recent trends in debt accumulation for low-income countries have created vulnerabilities predating the COVID-19 crisis. Low-income countries, in particular, are being forced to drastically increase spending to respond to the health emergency, while creating social protection systems including unconditional cash transfers, a guarantee of income for those who lose their jobs and employment security

It is little wonder, therefore, that some African countries are beginning to ask for some form of debt relief. Whether it would be granted or not, remains the conundrum that is afflicting us all. At the outbreak of the COVID-19 pandemic, external debt stocks of developing countries and economies in transition reached US$9.9 trillion, their highest level on record.

AfCFTA’s potential to lift millions out of poverty acknowledged

While lamenting the unfolding crisis, there appears to be a silver lining in the horizon. The same report (Africa Pulse, October 2020) is hopeful that the implementation of the Africa Continental Free Trade Area (AfCFTA) has the potential to lift about 100 million people from poverty if countries commit to the agreement and put in the necessary reforms to make it happen.

The report notes the continent’s trade pact can lift an additional 30 million people from extreme poverty and 68 million people from moderate poverty.

Full implementation of the AfCFTA would contribute to a further decline by lifting an additional 1.5 percent of the continent’s population from extreme poverty. To achieve this, the World Bank says it is important that member states put in place policies that will maximise the full potential benefits of the agreement.

This involves addressing on-the-ground constraints that may weaken the daily operations of ordinary producers and traders through regulatory reforms and capacity building among the institutions that enforce these regulations.

While acknowledging the obvious benefits to the African economy as a result of implementing AfCFTA, the report also notes however that implementing the obligations in the trade agreement will likely prove challenging for many member states.

The World Bank report further acknowledges that one of the difficulties that the agreement will face will be enacting the non-tariff and trade facilitation measures, which would yield the largest (potential) economic gains.

AfCFTA’s full potential depends on agreeing to ambitious liberalization and implementing it in full. All in all, AfCFTA offers the African continent a glimmer of hope which must be seized upon.

In spite of initial challenges implementing AfCFTA will engender, one thing that is clear is that its implementation is expected to enhance competitiveness at the industry and enterprise level through the exploitation of opportunities for scale production.

The report further states that, in West Africa, the poverty headcount would decline by 12 million people, while the declines in Central Africa and East Africa would be 9.3 million and 4.8 million, respectively.

AfCFTA has the potential to lift 67.9 million people (about 3.6 percent of the continent’s population) out of poverty by 2035, the report states.

CUTS, Consumer International raise consumer awareness on sustainable consumption and waste reduction

October 13, 2020

The Discussions, which are being organised by CUTS Ghana – research, advocacy and consumer protection organisation in collaboration with Consumer International – aim to spread awareness on sustainable consumption and promote the habit of sharing resources within communities to get people to buy less, or at least to buy in such a way that has less of a rippling environmental impact. The discussion focused more on women as they are the principal decision-makers in household consumption, as well as being more vulnerable to unsustainable practices.

The Focus Group Discussion forms part of a host of activities to mark Green Action Week under the theme ‘Community Sharing’. Another Focus Group Discussion, community engagement and advocacy, media campaign among others are to be held in Kasoa during the coming days.

In an address to open the Discussion in Accra, Country Director of CUTS, Appiah Kusi Adomako, opined that: “With the increasing use of natural resources; air, water, and soil pollution; and the ever-growing amounts of waste generated in Accra alone, it is clear that our current way of consuming and producing waste has to change fundamentally. There is a need to intensify grassroots and community engagement, especially among women, to drum home the rippling effects of unsustainable consumptions patterns and lifestyles”.

Mr. Adomako suggested that there is a need to revisit the 3 Rs concept of Reduce, Reuse and Recycle, as it has the potential to reduce waste generated drastically. “This simple yet very effective waste management method has proven to be the way to go. It prevents pollution by reducing the need to harvest new raw materials, saves energy and money, reduces gas emissions that contribute to climate change, helps sustain the environment for future generations, reduces the amount of waste that will need to be recycled or sent to landfills and incinerators, and allows products to be used to their fullest extent,” he added.

The Forum also stressed that one way of improving people’s access to goods and services without increasing stress on the planet is to share. Sharing is, in other words, the concrete example of more sustainable consumption culture. And, also, the sharing economy enables development and entrepreneurship.

Mr. Shadrack Nii Yarboi Yartey, the Communication Officer at CUTS Ghana, urged consumers to ditch the use of plastic bags and opt for paper or reusable bags for shopping. He advised Ghanaians to try and keep a bunch of extra bags in their cars or with them each time they go to the local market or supermarket to shop, as this has the potential to decrease amounts of waste generated.

Building resilient companies in the time of COVID-19

October 13, 2020

AngloGold Ashanti (Ghana) Limited, in partnership with the Institute of African Studies (IAS) of the University of Ghana, has hosted the Seventh AngloGold Ashanti Lecture on Business in Africa, which is annually organized under the auspices of the Kwame Nkrumah Chair of the IAS.

This year’s lecture, organized on a free Zoom Webinar, on Thursday, October 8, 2020, was under the theme, “Building a Resilient, Sustainable Organization during a Global Pandemic – Lessons from COVID-19 for Africa.”

Delivering the lecture, the Interim Chief Executive Officer of AngloGold Ashanti, Ms. Christine Ramon, noted that even though managing a large, multi-jurisdictional mining company through the ongoing COVID-19 pandemic has presented its own unique set of challenges, it has also provided some valuable lessons for broader society in

The lecture brought attention to the economic hardship all economies face as a result of the pandemic and governmental measures, especially in sectors like hospitality, commercial real estate and tourism.

There have, though, also been some positive learnings that have come with operating in this challenging environment. “A positive development to come out of working in the challenging COVID-19 environment has been the increased communication and cooperation both in the company and with all our stakeholders. In Ghana we saw just how critical the cooperation between the health ministry, local government and our own health teams was as we reported our first cases.

This kind of collaboration between governments, businesses and other stakeholders have been one of the more positive aspects of the pandemic.” Ms. Ramon said. All industries, particularly mining companies, were commended for their resilience in the face of a challenging and potentially long-lasting crisis, and Ms. Ramon recommended that companies make decisions that will help them flourish over the long term, working closely with host communities.

“These will include commitments to our employees and to our hosts in line with our values — that must be honoured, and hopefully improved upon.” She said. Mr. Eric Asubonteng, Managing Director of AngloGold Ashanti, Obuasi Mine, in a statement addressing the forum, reiterated the need for the industry to continue working together with government, communities and citizens in continuously identifying opportunities to sustain long-term benefits for all.

He was proud of the measures taken by the Obuasi Mine to control the spread of the disease and highlighted their effectiveness in mitigating the impact of the pandemic on the Obuasi Redevelopment Project. “We are proud to say that due to the effectiveness of the COVID-19 interventions implemented, the Obuasi Redevelopment Project continued and is on course without significant disruptions, albeit some delays to the schedule of the ramp-up,” he said.

Prof. Dzodzi Tsikata, Director, Institute of African Studies, in her remarks, commended AngloGold Ashanti for supporting the Institute in its efforts to expand its research into Africa’s contribution to global development. She also expressed profound gratitude to AngloGold Ashanti for collaborating with the Institute to make the lecture series a success once again.

Ms. Karen Akiwumi-Tanoh, the former Chairperson of First Atlantic Bank, chaired the event.

In her closing remarks, Ms. Akiwumi-Tanoh thanked the Institute of African Studies for ensuring that the 2020 annual lecture happened in spite of the COVID-19 pandemic, using the aid of technology. She also lauded AngloGold Ashanti for being exemplary in leveraging lessons from their different operations across the globe to set new operational standards during this pandemic.

“The pandemic has highlighted the value of cross-cultural and multi-jurisdictional learning. It is clear that businesses will be stronger and more competitive if they remain swiftly responsive to changes both within and outside their geographical locations.

Today’s lecture has been possible mainly because we all accepted to embrace the new normal, making it possible for us to listen to such erudite people from different locations at the same time without having to travel”. She ended on an optimistic note that the world would be better and stronger post-COVID-19.

Belfast Management Limited reopens No.1 Oxford Street Hotel and Suites

October 13, 2020

Belfast Management Limited has assured the public of its commitment to prioritizing health and safety as the hospitality industry gradually bounces back after the novel coronavirus pandemic has been brought under control in the country.

Speaking to B&FT during a client engagement event to unveil the luxurious 108 apartments Number One Oxford Street Hotel and Suites located at Osu in Accra, the General Manager, Atuobi Debrah Kissi, said the company has rolled out a series of measures to guarantee the safety of its staff and clients.

Mr. Kissi said even though the hotel industry was one of the worst-hit during the crisis, Belfast Management is poised to resume full operations to enhance competitiveness in the market as the situation normalizes.

He said the company will continue to honour its commitment to providing the best comfort and security across all its four luxurious facilities in the capital city which includes Kwarleyz Residence, Vyn Yard and Belgravia Townhouses.

Mr. Kissi urged customers to visit the company’s website for new offers and special discounts on https://1oxfordstreetaccra.com.

He said Belfast, in keeping with its hallmark of luxury and security, will continue to collaborate with stakeholder organizations in the hospitality industry to position Ghana as the most preferred destination for business and tourism in West Africa.

Beyond the Good Samaritan: it always seems impossible, until it is done

October 13, 2020

Ofori Atta — Finance Minister, Ken Ofori-Atta

Ghana confirmed its first two COVID-19 cases on March 12, 2020, imports from Norway and Turkey. Africa has since recorded over 1.5 million cases and counting. In terms of infections and deaths, we have fared better than most other regions.

Perhaps this is because of our youthful population, the natural social distancing of outdoor living and working conditions, experience with infectious disease management, or simply good leadership.

Our economies, however, have not been spared. Across the continent, governments are facing falling revenues, rising expenditures, increasing debt distress, and significant reversals in development indicators. In an omen of what is to come, Zambia now appears headed for the continent’s first pandemic-related private debt default.

The past six months have brought laudable interventions from multilateral institutions and the G20 countries. The G20 moved quickly to establish the Debt Service Suspension Initiative (DSSI), which has secured deferrals of some USD$5.3 billion in debt service payments, the IMF has approved over US$25 billion in emergency funding to Africa, and the World Bank and EU front loading programme has provided US$160 billion.

Yet we need the international community to do more. We need to see a fierce urgency for change from all actors, with all options on the table. Now is not the time for the world’s great economic powers to turn inward and focus only on their own survival.

As Dr. Martin Luther King said in his 1968 speech, “I’ve Been to the Mountaintop,” the parable of the Good Samaritan calls us not to allow fear and self-interest to prevent us from helping others. One should not ask, “‘If I stop to help this man, what will happen to me?’ The Good Samaritan came by, and he reversed the question: ‘If I do not stop to help this man, what will happen to him?’”

What will happen to African economies is clear. South Africa’s economy has already contracted by a devastating 51%, one of the steepest of any major economy in the world, while it faces a 15% budget deficit. Countries such as Cote d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal, and South Africa have received sovereign downgrades or negative outlooks from the ratings agencies. Even now, as Paul Collier has written, African resources are flowing to the West due to lower commodity prices, reduced tourism, capital flight, at least a 20% reduction in remittances, and purchase of PPE and medications from Western countries.

The human costs are tremendous. Up to 39 million people are expected to slip below the poverty line. We can see the gains of the past decade – and the promise of the next – slipping away.

As we approach the World Bank and IMF Fall Meetings, much more needs to be done. The IMF’s lending capacity should be doubled to US$2.5 trillion to increase assistance to member countries in need. For example, European countries have some US$260 billion in Special Drawing Rights (SDRs) for which they have little use and could on-lend to African countries, while the U.S in addition opposes the issuance of new SDRs entirely.

Meanwhile, China is negotiating with Africa on a country by country basis rather than continental basis. Some of its state-owned financial institutions are not officially included in the G20 debt suspension. China, however, remains an important partner in Africa’s infrastructure development, with over US$143 billion of loans to the continent. Private creditors and the Institute of International Finance (IIF) have remained conspicuously silent, even as the predicted defaults start.

African finance ministers have asked for an extended debt standstill of two years; US$300 billion in highly concessional new financing over three years to accelerate economic recovery; the structuring of credit enhanced Special Liquidity and Sustainability Facility (SLSF) to make it cheaper and easier to access the capital markets; and a debt relief and cancellation programme for an increasing number of vulnerable countries.

On a global scale, these African demands are a drop in the bucket. The G20 countries have already spent over US$10 trillion on recovery and economic stimulus packages for their own economies, while in 2008, a US$3 billion package was agreed. Africa’s US$300 billion request is barely 3% of what OECD countries have spent so far to safeguard their economies from the pandemic.

Where is the fierce urgency for change in a global event of this scale? We must all ask: ‘If I do not stop to help this man, what will happen to him?’

What will happen to Africa — and to the world? As President Adesina said, Africa has lost a decade of economic growth. The stakes are high. This continent of 1.3 billion people, with the youngest population in the world and approximately 30% of the world’s natural resources and 60% of the world’s arable lands. A very unsettling picture of Picasso’s Guernica confronts us. We simply cannot walk away from Omelas.

We must use this opportunity to build back better and greener and effect a tectonic shift of the global financial architecture. We must be ambitious in our reforms, addressing fundamental inequities in the global financial system. For example, Africa continues to pay an unsustainable and unjustified risk premium of some 600-800 basis. The US$50 billion cost of illicit financial flows remains.

We must reorient ourselves for true partnerships between nations, development banks, and the private sector, undergirded by mutual interest, to create a fairer and a more sustainable world. As the IMF Managing Director, Ms. Georgieva said, “Preventing such a crisis can make the difference between a lost decade and a rapid recovery that puts countries on a sustainable growth trajectory”.

Though we hope to find answers to the seemingly intractable positions of Africa; Europe, China and the US, African nations cannot wait for others to act. Africa should take the lead in establishing a secretariat to synchronize and coordinate the varied interest groups and centres of power to restructure the global financial architecture in partnership with the G20, World Bank, IMF and UN, to make it fit for purpose for Africa and other developing countries as we navigate the post-COVID recovery.

A new era dawns and we cannot waste it, even as we help find answers to the seemingly intractable positions of Europe, China and the US and the moral failure of hegemony. It is my hope that by the next Annual General Meetings, we will have a global consensus for a new ecclesia for the Global financial architecture.

We must be strong and courageous as we make a way in the wilderness, else we will wake up from our spiritual stupor to a forlorn and melancholic world. As Nelson Mandela said, “Nothing is impossible: it always seems impossible until it is done.” We can only do this if we love our neighbour as ourselves, rediscover our common humanity, and propelled by a fierce urgency for change, heed the example of going Beyond the Good Samaritan to “Go and do likewise.”

>>>The writer is Ghana’s Minister for Finance. Excerpts of this essay were run in the Financial Times on Monday, October 12, 2020

Auditor rotation under Ghana’s New Companies Act, 2019 (Act 992): …. A game changer for companies

October 13, 2020

The engagement of an auditor and his work generally have fundamentally inherent risks. These risks are well known within the accounting profession, and over the years accounting and audit regulatory bodies have explored mechanisms to mitigate these known risks. Auditor independence is at the heart of risk mitigation mechanisms, and one of the biggest threat to auditor independence is over-familiarity which can mostly be blamed on long term audit-client relationship.

Accounting and Audit regulatory bodies such as the Institute of Chartered Accountant, Ghana; International Accounting Standards Boards (IASB); Association of Chartered Certified Accountants, U.K; Financial Reporting Council, UK, and many more have invested and continue to make heavy investments in research on this subject matter. These bodies have proposed solutions to moderate the effect of these risks so as to enhance audit quality. The most advocated solution by these bodies is the rotation of audit engagement partners. This approach requires that audit firms replace their engagement partner from time to time as they become familiar with the client.

Governments across the world have mostly resorted to the use of statutory interventions to enforce auditor rotation.

The European Union (EU) has rules that require companies to rotate their auditors. Article 21 of Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 makes provision to deal with familiarity threat of auditors and therefore reinforces the independence of statutory auditors and audit firms. It establishes a maximum duration of the audit engagement of a statutory auditor or an audit firm in a particular audited entity. Further to that the guidelines adopted by the Committee of European Auditing Oversight Bodies (“CEAOB”) on 28 November 2019 (CEAOB 2019-041) provides that EU public interest entities (PIE) rotate their auditors at a maximum of every 10 years, subject to extension under certain conditions. The Regulation also requires rotation of audit engagement partners and a gradual rotation of key audit personnel during the mandatory audit period. A four (4) year cooling period applies to the audit firm and any members of the firm’s network prior to the re-appointment as the statutory auditor

In Asia, major markets such as Japan, China and Singapore have made rules and regulations to enforce auditor rotation in order to check audit risk emanating from audit independence and familiarity with clients.

Similarly in Africa, the big markets such as Nigeria and South Africa have all made rules to regulate auditor rotation.

Ghana’s New Auditor Rotation Law

Ghana has now joined the list of countries that use statutes to regulate audit risks emanating from auditor-client familiarity. On the 2^nd August 2019, Ghana enacted into law a new Companies Act, Act 992. This Act has introduced several novel concepts in company law pertinent to new trends in business practice which are intended to enhance significantly, the legal and regulatory framework for doing corporate business in Ghana. Among these novel concepts is the introduction of auditor rotation. Prior to the introduction of this concept into our company law, the Bank of Ghana (BoG) by law had introduced and made it a regulatory requirement for banks to rotate their auditors every five (5) years. So whilst auditor rotation is a new concept under the Companies Act, 2019, Act 992, for institutions regulated by BoG this is not new to them.

Section 139 subsection 11 of the new Companies Act, Act 992 provides that “An auditor shall hold office for a term of not more than six (6) years and is eligible for appointment after a cooling-off period of not less than six (6) years”.

The contention within the Accounting profession in Ghana since the Act come into force has been when the rotation period starts counting (i.e. effective date for the count of the six (6) years). The question then was whether the six (6) years shall start counting from the date the Act comes into force (i.e. 2^nd August 2019) or from the date a company appointed its auditor. To resolve this confusion, the Institute of Chartered Accountants, Ghana (ICAG) wrote to the Registrar General for a clarification. In a response letter, the Registrar General stated that the six (6) years run from the date of appointment of an auditor, and she further cautioned companies to abide by the directive to rotate their external auditors as prescribed by the Act.

Under Act 992, a company and its officers commit an offence, if the company continues to engage an auditor whose appointment is over six (6) years. In the eyes of the law, such an auditor does not exist and his opinion on the financial statements of the company may not be valid. This is provided under Section 139 (5) of the Companies Act, 2019 (Act 992), as:

(5) An existing auditor shall continue in office until,

a) that auditor ceases to be qualified for appointment
d) the tenure of that auditor ends.

The writer submits that once an auditor’s tenure comes to an end after serving the six (6) years term, which also implies that the auditor has ceased to be qualified for appointment, such an auditor lacks the necessary authority or power in law to profess an opinion on the affairs of the company.

Subsection 10 of Section 139, makes it an offence to contravene Section 139 and both the company and its officers are made liable and punishable under the Act.

It is pertinent for companies to note that if their auditors have served the full six (6) years terms counting from the date of appointment, then such auditors have, in the eyes of the law and technically speaking, ceased to be auditors of the company and any further act done by the auditors in their capacity as continuing auditors is unlawful and amount to an illegality, and can have dire consequences should a member of the company question the validity of the audited accounts.

The Game-Changing Effect of the Auditor Rotation Law

Now the law is in force but the question this writer seeks to answer is, “What is in the law for companies for which reason they must comply beyond merely respecting the law?” The writer is of the opinion that the law is a game-changer for companies given the benefits that are inherent in its enforcement. The benefits for companies are classified under four main headings: Cost savings, Investor Confidence, Reduction of Audit Risk, and Quality of Audit and New Perspective

Cost savings for companies

Rotating auditors certainly gives companies an opportunity to open up negotiation of audit fees with potential auditors. This may be realized through the use of a procumbent process that requires auditors to undergo competitive bidding of the company’s audit. This process if properly executed will most likely result in reduced audit fees over the six-year period for the company. The tender process must however be carried out in a manner that does not sacrifice the quality of audit work for cost savings. This means companies must balance the desire to cut down on audit fees with the maintenance of the quality of audit. Overly focusing on cost-cutting may lead to unintended consequences. Notwithstanding the need to balance cost with quality, it is highly possible for a company to save some money on its audit fee by taking advantage of the provision on auditor rotation under the new Companies Act.

Investor and creditor Confidence

A natural consequence of auditor rotation is an enhanced investor and creditor confidence in the financial systems including internal controls of a company. A weak internal control system points to poor corporate governance. A company may benefit immensely from auditor rotation if it is established that successive auditors under a scheme of rotation issued a clean opinion on the financials of a company. Investors and creditors including banks are most likely to rate the governance of a company high if the company’s accounting systems has under-gone audit by more than one audit firm over a reasonable period of time and at reasonable intervals as prescribed by the Act. Another benefit which a company derives from audit is the management report which are issued by auditors to management. Where a company has benefited from audit by multiple audit firms, management get to know from these different auditors control weaknesses which require redress to improve governance. This is better served if different auditors issue such management letters over time as against one auditor. In this globalized world, the periodic rotation of auditors sends a positive impression about a company to investors including foreign ones.

Reduction of Audit Risk

Over-familiarity of auditors with clients may make auditors too comfortable to recognize and adequately plan for potential risks. There is increased potential for audit risk which is the risk that an auditor gives an inappropriate opinion on the financial statements. Rotation of auditors will reduce this risk as successive auditors would look at issues with a new set of eyes devoid of presumptions.

Quality of Audit and New Perspective

Rotation of auditors brings new perspectives into the audit of the financial statements of a company. A company benefits from varied perspectives and new ideas from its newly appointed auditors.

Effect of Non-Compliance of the law

Companies that fail to enforce that law commits an offence and may continuously be exposed.

Auditors are expected to be independent but their continuous occupation of the office after the six (6) year-period expires may expose them to Familiarity Threat from long periods of serving as the external auditor of a client company. The Auditors’ independence becomes threatened since his professional judgment may be overridden by emotional feelings.

The company may further have to deal with Self-Interest Threat which might occur as a result of financial or other interests of an Auditor or of an immediate or close family member, undue dependence on total fees from the client, having close business relation with the client, and loan to or from a client or any of its directors or officers.

Finally, the company has to deal with Advocacy threat as a result of an auditor’s long term association with a client. Advocacy threat may occur when the auditor promotes a position or opinion to the point that subsequent objectivity may be compromised.

Conclusion

It is worthy of note that the requirement of the companies act 2019 (Act 992) is mandatory and companies must take steps to ensure full compliance. Companies whose auditors’ have been engaged for at least a period of six years continuously, should take steps to appoint new auditors immediately. Equally, companies whose auditors’ are in their sixth year, should take steps to transition to new auditors after the end of the sixth year.

Readers interested in reading upcoming articles by the writer or members of his Firm may contact his Firm via [email protected] for direct distribution.

Sponsored by: Top Assurance and Accounting

Editorial 2:Neutrality of the civil service threatened by politics

October 12, 2020

Nana Agyekum Dwamena, Head of the Civil Service (HCS), has said Personal Assistants (PAs) and Technical Advisors (TAs) at various Ministries, Departments and Agencies (MDAs) are impeding the work of civil servants.

This development has become a cause for concern. Consequently, the new civil service law has made clear proposals for defining the role of PAs and TAs to guide the operations of civil servants in order to codify roles for all these categories of advisors, so that they know exactly what they are to do.

Political party patronage is very prominent in the civil service and local government service. It is a problem because if we don’t have a neutral civil service or local government service, it adversely affects performance. The desired neutrality among civil and local government staff is a mirage, considering the level of political interference in its operations.

The civil service human resource will consequently not be based on merit and will have, or be swayed by, political influence – and that in turn adversely affects our socio-economic development as a state.

With the fervour for partisan politics in our body-politic increasing, it has adversely affected neutrality of the civil service as we know it; and it is important for the civil service to remain or become non-partisan. This is because partisan politics promotes allegiance to party policies rather than the national good.

The public lecture organised by the Civil and Local Government Staff Association, Ghana (CLOGSAG), with the theme ‘Neutrality in the Civil and Local Government Services; a reality or a mirage’.

CLOGSAG has taken the lead and created a platform for discussion, debate and interrogation of the issue, and they need to be commended for identifying this growing phenomenon that has the propensity to crowd-out the civil service if care is not taken. This over-politicisation of the civil and local government service is becoming quite menacing.

We hope this lecture and the impending new civil service law will address a growing phenomenon that threatens the neutrality of the civil service. We need to guard against this nagging problem.

Standard Chartered Bank funds Korle-Bu Ophthalmic Nursing School

October 12, 2020

… as it marks World Sight Day 2020

Standard Chartered Bank’s Seeing is Believing Programme has announced its final funding of US$60,000 to the Korle-Bu Ophthalmic Nursing School as it marks 13 years of great socio-economic impact in Ghana.

The funding was made on World Sight Day 2020, whose theme of ‘Hope in Sight’ encapsulates the vision of the Seeing is Believing programme that has since 2007 been helping Ghanaians tackle avoidable blindness and visual impairment.

Working with Operation Eyesight Universal, the funds will go towards the installation of world-class equipment and training of tutors at the Korle-Bu Ophthalmic Nursing School so they can continue delivering the best eye care to patients.

Speaking at a ceremony to hand over the equipment, Asiedua Addae, Head, Corporate Affairs, Brand and Marketing, Standard Chartered Bank Ghana Limited said: “Standard Chartered has invested more than GHS 15million since 2007 in eye health projects that range from providing comprehensive eye-care at the community, district and national levels to building innovative eye health delivery solutions in Ghana.”

The Seeing is Believing (SiB) programme comes to a close after 13 years and over 5 million Ghanaians having been touched by its activities.

Over the 13 years, working with partner NGOs, key signature projects have been undertaken including the construction of 6 fully equipped eye units complete with surgery facilities and the renovation of 2 existing eye units and a theatre. SiB also undertook 30,884 pediatric eye screenings at the primary level, 32,508 screening at selected secondary schools and 10,873 pediatric screenings at 5 district hospitals.

Speaking during the inspection of the equipment, Emmanuel Kumah, Country Manager, Operation Eyesight Universal said, “The funding Operation Eyesight Universal has received from Standard Chartered Bank’s Seeing is Believing Programme has really enhanced the work Operation Eyesight Universal has done with the Ghana Health Service in strengthening eye health system in Ghana. Indeed Standard Chartered is ‘Here for Good’”.

“We are grateful for an impactful decade of partnership with Standard Chartered who not only raised a lot of awareness on the issue of avoidable blindness in Ghana but went further to dedicate resources to tackle it,” he added.

Speaking after receiving the equipment, Stella Antwi-Boasiako- Principal, Ophthalmic Nursing School, Korle Bu expressed her gratitude to Standard Chartered for supporting the school. She said. “The fitting of the skills lab is timely and training of the tutors will contribute a great deal to producing world-class Ophthalmic nurses,” she said.

“By funding projects implemented by international eye health organisations, SiB has provided access to affordable and quality eye-care to Ghanaians. Eye-care is a critical component of health care. Working with the Ghana Health Service and building eye-care capacity we have strengthened health systems and infrastructure in Ghana,” Asiedua Addae added.

World Sight Day is held on the second Thursday of October every year with the aim of focusing global attention on vision impairment and blindness.

Editorial: Industrialisation drive picking up gradually

October 12, 2020

Trade and Industry Minister Alan Kyerematen has stated that 232 out of 260 factories under its flagship 1D1F industrialisation programme are near completion, with some operating at full capacity, when he addressed the Nation Building Updates held last week Thursday.

He further disclosed that through the 1D1F initiative, 76 projects have been completed and are in full operation. Also, 107 projects are under construction, 36 are ready to commence construction, and 13 are in the pipeline to be financed by the Private Finance Initiative (PFI).

However, what appears to have caught the fancy of many is the fact that the initiative has created 140,000 jobs. Out of that number, 18,811 are direct jobs while 120,520 are indirect.

As elections are around the corner, it is appropriate that government details its achievements in order that the electorate be informed about progress chalked up under the current administration; especially so as the ID1F was meant to create jobs and deepen the country’s industrialisation drive.

According to the Trade Minister, 162 of these factories – representing 72 percent – are new companies while the remaining 64 are existing companies which were rolled onto the programme.

The minister explained that the initiative has taken the form of public-private partnerships, with the government providing support by way of tax incentives, and waivers on duties and levies for imported machinery and raw materials.

Other incentives are the provision of free technical assistance and extension of infrastructure like electricity, water and roads. He believes the initiative will move the current status of the country’s economy from being agrarian to industrial and observed that the most powerful nations today happen to be the most industrialised.

He also indicated that the EXIM Bank has been the 1D1F programme’s main financier since 2017, and so far it has accounted for GH₵1.2billion.

Indeed, the progress of 1D1F is quite encouraging – especially considering the capital-intensity of such undertakings. However, in our estimation, the greatest achievement is that distressed and old industries that had collapsed or were comatose have been revived under the 1D1F programme – and that has been a great relief.

Boosting the country’s industrial capacity will not only create jobs but also promote the Made-in-Ghana agenda of government meant to cut down substantially our high import regime, which only adds to weakening of the local currency.

GIADEC to announce new partners for bauxite mining soon

October 12, 2020

Photo: The swearing-in the 19-member Community-Based Committee at Awaso

…as it inaugurates community-based committees

The Ghana Integrated Aluminum Development Corporation (GIADEC) is soon expected to conclude the process for selecting new strategic partners for bauxite mining in Kyebi, Awaso and Nyinahin, the Chief Executive of GIADEC, Michael Ansah, has said.

This comes as the company has reached the final stage of its investor engagement process, which started about a year ago. The coming on board of new investors, among others, will expectedly also lead to setting up a refinery for bauxite as well as retrofitting the Volta Aluminum Company (VALCO).

According to Mr. Ansah, GIADEC has reached an agreement with Bauxite Minerals Group, operating in Sefwi Awaso in the Western North Region, to expand its bauxite mining operations from 1 million metric tonnes to about 5 million metric tonnes. In addition, the company is expected to establish a 1.6 million metric tonnes aluminium processing plant.

“All of these are in the framework of the Memorandum of Understanding that we have signed and are looking to execute,” he said. It against this backdrop that GIADEC has engaged all the catchment areas for bauxite mining, leading to the inauguration of Community-Based Committees.

Mr. Ansah, who was speaking in an interview after the inauguration of the 19-member Committee at Sefwi Awaso in the Bibiani-Anhwiaso-Bekwai Municipality of the Western North Region, explained that building a partnership of trust with communities will help in the right exploitation of bauxite deposits.

He explained that the Act establishing GIADEC enjoins it to operate in a manner that brings positive participation and ownership by locals. The operations of companies in bauxite mining will significantly take into consideration the issue of local content. He is optimistic that contributions from the various communities will help to direct the right social and economic development into the catchment communities of the bauxite operations.

Mr. Ansah stated that the interventions of civil society organisations (CSOs) are welcome, to enhance the commitment to promote responsible mining activities which place the utmost importance on environmental safety.

The Awasohene, Nana Kwame Amponsah III, who is also chair of the 19-member Community-Based Committee, for Awaso, lauded the initiative to involve the various communities in operations of GIADEC.

He said in the past the company, which operated in the area, made very little effort to relate with the communities. It is in view of this that he noted the coming of this new committee will create an avenue to channel the communities’ concerns to the companies working around.

“As a community, the youth are our future; the lack of employment drives them to other towns and cities, denying us of able-bodied persons to support local development. In respect to this, we hope that this new arrangement will lead to youth employment and skills training.”

Chairman of the Amanano Mining Advocacy Group, and Secretary to the Nyinahin Town Elders Society, Nana Oppong Denkyerie, however, insisted that there should be a legislative guarantee that the work of GIADEC will be sustained irrespective of the political party in power. He said governments’ penchant for discontinuing initiatives started by the administration before them retards the development of communities and the country as a whole.

UG student wins Miss International Ghana beauty pageant 2020

October 10, 2020

Photo: Miss International Ghana finalists

Felicia Amponsah, a 22-year-old level 100 student of the University of Ghana, has been adjudged the winner of the 4^th edition of this year’s Miss International Ghana which took place at the National Theatre in Accra.

Ms. Amponsah, who is offering Business Administration, stood tall among 10 other contestants and picked up the crown after 12 weeks of intensive competition. The first runner up was Belinda Obuabeng Cobbina of the Kwame Nkrumah University of Science and Technology whiles the second runner up was Doreen Antwi of Ghana Telecom University.

Miss International Ghana, an annual event organised by Alpha Promotion premeditated to redefine beauty as a vehicle for transforming the lives of street children in the country. It is also a project to support and give hope to homeless children. Prior to the climax of the event, the Miss International Ghana delegate delivered and supported children in Madina market in conjunction with the Rotary Club of Adjiringanor as part of activities to supporting the vulnerable and marginalised street children.

The delegates were also exposed to leadership and IT skills during the pre-event activities. Then came the much-anticipated night as the delegate showcased insightful presentations on streetism, outstanding talent exhibition and philosophy of life.

Felicia walked home with a cash prize of GH¢5000 and an all-expense-paid trip to Dubai by kind courtesy of Empomart and Adansi Travels respectfully. The second runner up received GH¢3,000 whiles the third runner up received GH¢2,000 cash prize sponsored by edwon.com and another GH¢1000 from Compuville Systems. The rest of the delegates got various consolation prizes such as home appliances from Bluetook speakers to blenders and rice cookers among others.

The event was attended by the past Queen of Miss International Ghana pageant. Miriam Amo of Ghana Telecom University, who was Miss Personality for Miss International Ghana 2018 was also honored as a special ambassador for Alpha Promotion Youth Foundation with the task to help raise support for the Queen and carry out a special project that supports the foundation’s work of impacting lives of the vulnerable and disadvantaged children in our society.

Henry Morgan Minski, Chief Executive Officer of Alpha Promotions and Miss International Ghana, said the event, which had support from the Streets Child Support and Trinity Revere Empire, was to help eradicate streetism in the country. He was pleased with the performance of all 12. Their sterling performance was to the admiration of the judges as well.

The event attracted hundreds of people who were entertained to performances by the contestants and treated to good music by upcoming artistes.

Poem to honor COVID-19 frontline workers

October 10, 2020

As Covid-19 keeps me at home

My daddy always keeps me in the zone

Everyday I work and play

If I just do that, it’ll all be okay

Because of Covid-19, we couldn’t go to school

So my teachers and classmates did work online

Now, which is the future of Covid-19

We’re gradually getting fine

Nurses, doctors, working after hours

Working hard like you’ve got superpowers

Food store workers working everyday

So we’ll be full from day today

Washing your hands, I don’t have to ask

Don’t ever forget to wear your mask

Six feet apart from family and friends

Just do so, so this thing can end

To all those frontline workers

Who work hard everyday

Today I write to you

Just so I can say THANK YOU!

>>>The writer is a 10-year-old at St. Peter Catholic School, Greenville, North Caroline, USA.

3Foundation partners 3FM Twellium Foundation for ‘Save Our Breast’ campaign

October 10, 2020

October is here, a month dedicated to Breast Cancer Awareness. The Breast Cancer Awareness Month is marked in countries across the world every October to help increase attention and support for the awareness, early detection and treatment as well as palliative care of this disease.

3Foundation, the Corporate Social Responsibility Unit of Ghana’s leading media conglomerate, Media General has partnered with Media General’s lifestyle radio brand, 3FM and the Twellium Foundation to launch a breast cancer campaign dubbed “Save Our Breast.”

As part of the campaign, there will be free breast screening at the forecourt of TV3 Network on October 14, Accra Metropolitan Assembly office complex on October 15 and Tema Metropolitan Assembly on October 16.

In addition to the free breast screening at the designated areas to be undertaken by Imah International Maritime hospital, the one-month campaign will end with a health walk through selected principal streets in Accra on Saturday, October 31, 2020.

Speaking about the motivation for the campaign, the assigned Medical Resource for the campaign, Dr. Josephine Awotwe Quarcoo, stated that “one of the challenges we have with breast cancer is ignorance. That is actually worsening the problems associated with breast cancer and the flight of patients. It is important for people to know that there is a cure for breast cancer when diagnosed early.”

Commenting on the campaign, the Chief Operating Officer of the Media General Group, Winfred Kingsley Afful said “this is a lot more than just a month-long education campaign and screening exercises.

Importantly, we are going to screen over 1,500 men and women for free as well as exposing many people to what they need to know and do. Breast cancer is the most frequent cancer amongst women and we want men and women to pay greater attention to this.”

According to Globocan 2012, there are about 1.7 million new cases and 522,000 deaths from breast cancer each year. In low- and middle-income countries the incidence has been rising steadily due to increased life expectancy, changing reproductive patterns (such as later age at first childbirth and less breastfeeding), and the adoption of western lifestyles.

BetPlanet presents Golden Goal Ticket to 1st finalist

October 10, 2020

(From right) Mr. Sosthenes Galevo, Country Manager for Planet Sports Limited presenting the Golden Goal ticket to Abdul Razak — (From right) Sosthenes Galevo, Country Manager for Planet Sports Limited presenting the Golden Goal ticket to Abdul Razak

Planet Sports Limited, operators of BetPlanet, have presented a ‘Golden Goal’ ticket to the first person who scored a Golden Goal and qualified for the final event. The first 10 Golden Goal scorers will qualify for the final event in which one lucky winner will drive home the Mercedes Benz.

Earlier this week, Abdul Razak, the first player who qualified for the live final of BetPlanet’s Golden Goal event was presented with his Golden Goal Ticket.

Speaking at the presentation, Henry Akrong, Marketing Manager for Planet Sports Limited, urged all their customers to log on to BetPlanet, play the virtual penalty game and stand a chance to win one of the nine golden goal tickets left to be won.

On receiving the Golden Goal ticket, Abdul Razak said he signed onto www.betplanet.com.gh and played the Golden Goal game because he wants to win the Mercedes Benz. He commended BetPlanet for putting together such a wonderful and easy to use game on their platform.

According to Razak, he loves football and so he was drawn to play the virtual penalty game which earned him the ticket. ”Just last week, I scored a golden goal and received a congratulations text message from BetPlanet to come and pick up my ticket. I want my friends out there to know that this is real and I would like to say a very big thank you to BetPlanet,” Abdul Razak stated.

Abdul Razak holding his Golden Goal ticket

The BetPlanet Golden Goal campaign is a new marketing campaign aimed at rewarding all loyal customers. The 13-week’ campaign went live on September 12, 2020, and culminates at the final event on December 12, 2020.

At the final event, one of the ten finalists will drive home a Mercedes Benz with the nine other finalists winning amazing cash prizes. – no one leaves empty-handed! Planet Sports Limited is licensed under the Gaming Commission of Ghana and ensure at all times, their organization adheres to all the rules and regulations of the Commission under the Gaming Act 721, 2006.

Absa Bank partners Girl Guides Association on financial empowerment for young women

October 10, 2020

Ghana Girl Guides Association_2 — Photo: Ghana Girl Guides Association

Absa Bank Ghana has partnered the Ghana Girl Guides Association (GGGA) to empower young women on how to make sound financial decisions.

The GGGA “Be Inspired” weekly sessions which has become the perfect platform to engage members of the Association, was designed to support members with relevant insights on developmental and economic issues in these extra-ordinary times.

Commenting on the partnership, Priscilla Yeboah, Head of Citizenship at Absa Bank Ghana, said the bank is highly committed to supporting and empowering Ghanaians through its Force For Good programmes, to bring their possibilities to life.

“This partnership gives us a platform to stand in solidarity with young women during these challenging times and to equip them with the necessary skills and knowledge to be financially sound,” said Mrs. Priscilla Yeboah.

On her part, the Chief Commissioner of GGGA, Zakiya Abdul Wahab said: “We are very much grateful to Absa Bank for this unique partnership with the Ghana Girl Guides Association in the month of September and October for sessions on financial literacy. There is no doubt that this is a very important area for discussions especially amongst girls and young women and all our expectations have been met if not exceeded.

Our sessions with Absa Bank have really been thought-provoking as our girls and young women have come to realise that your level of financial literacy affects your quality of life significantly. They also understood what is needed to achieve a lifestyle that is financially balanced, sustainable, ethical and responsible as well as adoring retirement and many more,” Mrs. Zakiya Abdul Wahab added.

The Ghana Girl Guides Association is the largest female-only voluntary organization in the country. The group seeks to help young ladies to develop their potentials to be responsible citizens. Through experiential learning, Ghana Girl Guides’ activities are geared towards progressive self-development, leadership and active citizenship.

Don’t take our comic jokes personal – comedians tell politicians amid election campaign

October 10, 2020

Comedians all over the world have sometimes hit on politicians with their creative piece of work which on some occasions do not go down well with some of these politicians and the situation in Ghana is not different. However, the comedians in the country are pleading with politicians not to take their comic lines as personal attacks.

The country heads to the polls on December 7, 2020. These few months to election period is usually characterized by heightened political tension and the creative arts industry have always had its fair share of the brouhaha as sector players always come under intense criticism for supporting one politician or the other.

Against this backdrop, comedians in the country are sending a notification to the politicians especially the two major political parties, the National Democratic Congress (NDC) and the New Patriotic Party (NPP) and their party sympathizers to desist from dragging their comic performances and creative pieces into the political terrain as whatever they will be putting out around this season will be for comic purposes and not to entrench support for any politician.

Comedianwaris, a stand-up comedian and actor, in an interview with the B&FT stated that it is getting to elections and he expects everyone not to take comedians too personal because no matter what happens comedians need to make jokes and if one finds himself in the web, he should just embrace it and move on without getting angry.

“Comedy is supposed to be for fun and not to provoke if things go against you in a joke, it does not mean that is the reality, and that is why it is a joke. Some people, especially politicians during campaign era take things too personal that they react to the creative piece trying to discredit it and that is a serious limitation on comedy,” he said.

Derick Kobina Bonney, popularly known as DKB, on his part, also indicated that politicians should not take comic jokes very personal because the jokes only make fan of the situation and also highlights their shortfalls or areas they need to give more attention.

“My best advice to politicians is that they should rather learn from what we say because we analyze the joke from both sides and usually touch on the weaknesses and strength which they can improve upon. If they listen to us very well, they can figure out somethings to use against the opponent because we ridicule the opponent and also ridicule them so it is more or less a free consultation,” he said.

He further described a scenario during the previous election 2016, where he personally created a joke that made ridiculed the NDC for only saying “JM Toaso” without adding options of things done to compliment it, and after his joke, the party went ahead to improve upon their message with what he said.

DKB, however, sent a strong word of advice to his colleagues in the comedy industry to desist from endorsing political parties. “the more neutral you stay, the better your jokes,” he concluded.

Labour Commission directs GCNet workers to call off strike

October 9, 2020

The National Labour Commission (NLC), has directed striking workers of Ghana Community Network Service Limited (GCNet) to call off their strike with immediate effect.

According to the Commission, the strike by the workers is in violation of the Labour Act, and should therefore be called off.

In addition, the Commission’s directive signed by Dr Bernice Welbeck, Director of Administration, ordered the workers to appear before it on Wednesday, October 14, 2020, to hear their concerns.

The NLC directive, in a letter, addressed jointly to the workers and the management and, dated Friday, October 9, 2020, follows a complaint filed by the management of GCNet to protest the action by the 50 remaining workers who laid down their tools in solidarity with about 100 workers who have been affected by the company’s ongoing redundancy exercise.

Differences over the procedures for the payment of redundancy packages led the management and the Staff Welfare Association to arbitration at the NLC, in which the arbitral award favoured the association.

But the management is challenging the award in court on the conviction that the three-member panel overlooked its submission regarding the incapacity of the association which is not a registered union body and has no bargaining certificate to represent the workers.

While the laid-off workers continue to agitate for the payment of their severance package, those remaining in employment started a sit-down strike in solidarity with their colleagues sent home.

But the Labour Commission deems the action by the workers, which has affected operations in various agencies such as the Registrar General‘s Department, as inappropriate.

The management of the company, which has indicated its intention to pay the redundancy packages, but on a legitimate basis, declared redundancy after the government abrogated its trade facilitation services effective May 1, 2020.

Stalled work on ‘1D1W’ exacerbating post-harvest losses

October 9, 2020

Photo: Some members of PIAC at the facility to inspect progress of work

High post-harvest losses is one of the main constraints for peasant farmers who form the bulk of those engaged in the country’s agriculture sector. Apart from making farming unattractive, it also has the tendency to inhibit efforts at ensuring food security in the country, whiles perpetuating poverty amongst farmers.

Various percentages have been ascribed to this phenomenon but it is safe to say not less than 40% of agricultural produce is lost through post-harvest losses and this has to be addressed so that the toil of the farmer is not in vain.

It is for this reason that when the current political administration came up with a policy to construct a warehouse in every district of the country, it was welcomed with open arms since it was deemed the panacea to the high post-harvest losses recorded each season.

A government constructed warehouse facility, under the One District One Warehouse (1D1W) at Atasikrom in the Dormaa Municipality of the Ahafo Region, has stalled nine months after the construction deadline.

The project, about 98 percent complete, is expected to be used to assist farmers store farm produce as part of the government’s effort to address post-harvest losses; however, for some considerable number of months now, the contractor had ceased working and moved out of the site with all his equipment, bringing the progress of work to a halt.

Sadly, the locality is a maize-growing area and a poultry business center so the demand for maize is very high. We learn that even though the Municipality is a hotbed for maize production, drying maize during the major season becomes challenging for the farmers and the warehouse is to be fitted with a dryer for storage, only to stall and add to the woes of grain farmers there.

During the 2019 major crop season, the municipality recorded production of 29,775.2 metric tonnes of maize and 1,148 metric tonnes of rice, bringing the total production of both crops to 30,923.2 mt.

This came to light during a visit by some members of the Public Interest and Accountability Committee (PIAC) to the facility. Head of Budget, at the Ministry of Food and Agriculture, Nuhu Ibrahim indicated that the Ministry does not owe the contractor so it becomes puzzling why he has abandoned the project at this stage of completion.

We believe contractors of such major government projects must be compelled to undertake performance contracts so that they can be taken on when they breach the terms of the contract. Such actions only go to hurt farmers most.

We call on MoFA to take up the issue more seriously since it amounts to causing financial loss.

COVID-19: Examining theories for Africa’s low death rates

October 9, 2020

As the threat of a COVID-19 pandemic emerged earlier this year, many felt a sense of apprehension about what would happen when it reached Africa. Concerns over the combination of overstretched and underfunded health systems and the existing load of infectious and non-infectious diseases often led to it being talked about in apocalyptic terms.

However, it has not turned out quite that way. On September 29th, the world passed the one million reported deaths mark (the true figure will, of course, be higher). On the same day, the count for Africa was a cumulative total of 35,954.

Africa accounts for 17% of the global population but only 3.5% of the reported global COVID-19 deaths. All deaths are important, we should not discount apparently low numbers, and of course data collected over such a wide range of countries will be of variable quality, but the gap between predictions and what has actually happened is staggering. There has been much discussion on what accounts for this.

As leads of the COVID-19 team in the African Academy of Sciences, we have followed the unfolding events and various explanations put forward. The emerging picture is that in many African countries, the transmission has been higher but the severity and mortality much lower than originally predicted based on experience in China and Europe.

We argue that Africa’s much younger population explains a very large part of the apparent difference. Some of the remaining gaps is probably due to under-reporting of events but there are a number of other plausible explanations. These range from climatic differences, pre-existing immunity, genetic factors and behavioural differences.

Given the enormous variability in conditions across a continent – with 55 member states – the exact contribution of any one factor in a particular environment is likely to vary. But the bottom line is that what appeared at first to be a mystery looks less puzzling as more and more research evidence emerges.

The importance of age

The most obvious factor for the low death rates is the population age structure. Across multiple countries, the risk of dying of COVID-19 for those aged 80 years or more is around a hundred times that of people in their twenties.

This can best be appreciated with a specific example. As of September 30th, the UK had reported 41,980 COVID-19 specific deaths while Kenya, by contrast, had reported 691. The population of the UK is around 66 million with a median age of 40 compared with Kenya’s population of 51 million with a median age of 20 years.

Corrected for population size the death toll in Kenya would have been expected to be around 32,000. However if one also corrects for population structure (assumes that the age-specific death rates in the UK apply to the population structure of Kenya), we would expect around 5,000 deaths. There is still a big difference between 700 and 5,000; what might account for the remaining gap?

Other possible contributors

One possibility is the failure to identify and record deaths.

Kenya, as with most countries, initially had the little testing capacity and specific death registration is challenging. However, Kenya quickly built up its testing capacity and the extra attention to finding deaths makes it unlikely that a gap of this size can be fully accounted for by missing information.

There has been no shortage of ideas for other factors that may be contributing.

A recent large multi-country study in Europe reported significant declines in mortality related to higher temperature and humidity. The authors hypothesised that this may be because the mechanisms by which our respiratory tracts clear virus work better in warmer more humid conditions. This means that people may be getting fewer virus particles into their system.

It should be noted however that a systematic review of global data – while confirming that warm and wet climates seemed to reduce the spread of COVID-19 – indicated that these variables alone could not explain most of the variability in disease transmission. It’s important to remember that there’s considerable weather variability throughout Africa. Not all climates are warm or wet and, if they are, they may not stay that way throughout the year.

Other suggestions include the possibility of pre-existing protective immune responses due either to previous exposure to other pathogens or to BCG vaccination, a vaccine against tuberculosis provided at birth in most African countries. A large analysis – which involved 55 countries, representing 63% of the world’s population – showed significant correlations between increasing BCG coverage at a young age and better outcomes of COVID-19.

Genetic factors may also be important. A recently described haplotype (group of genes) associated with increased risk of severity and present in 30% of south Asian genomes and 8% of Europeans is almost absent in Africa.

The role of these and other factors – such as potential differences in social structures or mobility – are subject to the ongoing investigation.

More effective response

An important possibility is that public health response of African countries, prepared by previous experiences (such as outbreaks or epidemics) was simply more effective in limiting transmission than in other parts of the world.

However, in Kenya, it’s estimated that the epidemic actually peaked in July with around 40% of the population in urban areas having been infected. A similar picture is emerging in other countries. This implies that measures put in place had little effect on viral transmission per se, though it does raise the possibility that herd immunity is now playing a role in limiting further transmission.

At the same time, there is another important possibility: the idea that viral load (the number of virus particles transmitted to a person) is a key determinant of severity. It has been suggested that masks reduce viral load and that their widespread wearing may limit the chances of developing severe disease. While WHO recommends mask-wearing, uptake has been variable and has been lower in many European countries, compared with many parts of Africa.

So is Africa in the clear? Well, obviously not. There is still plenty of viruses around and we do not know what may happen as the interaction between the virus and humans evolves.

However, one thing that does seem clear is that the secondary effects of the pandemic will be Africa’s real COVID-19 challenge. These stem from the severe interruptions of social and economic activities as well as the potentially devastating effects of reduced delivery of services which protect millions of people, including routine vaccination as well as malaria, TB and HIV control programmes.

Research agendas

Major implications of the emerging picture include the need to re-evaluate African COVID-19 research agendas. While many of the priorities originally identified may still hold, their relative importance is likely to have changed. The key point is to deal with the problems as they are now rather than as they were imagined to be six months ago.

The same thing applies for public health policy. Of course, basic measures such as hand washing remain essential (regardless of COVID-19) and wearing masks should be continued while there is any level of COVID-19 transmission. However, other measures with broader effects on society, especially restrictions on educational and economic activity, should be under continuous review.

A key point now is to increase surveillance and ensure that flexible responses are driven by high-quality real-time data.

Kevin Marsh is the Professor of Tropical Medicine, the

University of Oxford and Moses Alobo is the Programme Manager for Grand Challenges Africa, African Academy of Sciences

This article is republished from The Conversation under a Creative Commons license

Coronavirus in Africa: 5 reasons why COVID-19 has been less deadly than elsewhere

October 9, 2020

Africa has a far younger population than Europe or the US

Many African countries have been praised for waging an effective campaign to combat the spread of coronavirus despite their reputation for having fragile state health systems.

The continent, which has a population of more than one billion, has had about 1.5 million cases, according to data compiled by the John Hopkins University.

These figures are far lower than those in Europe, Asia or the Americas, with reported cases continuing to decline.

Africa has recorded about 37,000 deaths, compared with roughly 580,000 in the Americas, 230,000 in Europe, and 205,000 in Asia.

“The case-fatality ratio (CFR) for Covid-19 in Africa is lower than the global CFR, suggesting the outcomes have been less severe among African populations,” noted a recent continental study by Partnership for Evidence-based Response to Covid-19 (PERC), which brings together a number of private and public organisations.

Low testing rates continue to undermine the continental response, however, there is no indication that a large number of Covid-19 deaths have been missed, said Dr John Nkengasong, the head of Africa Centres for Disease Control and Prevention (Africa CDC).

So what are some of the reasons for Africa’s relatively low death rate?

1: Quick action

Most places of worship in African countries have re-opened after the easing of restrictions

The first case on the continent was confirmed in Egypt on 14 February. There were fears that the new virus could quickly overwhelm largely fragile health systems on the continent.

So, right from the beginning, most African governments took drastic measures to try and slow the spread of the virus.

Public health measures – including avoiding handshakes, frequent hand-washing, social distancing and wearing of face masks – were swiftly introduced.

Chart showing cases by continent. Updated 3 Oct.

Some countries – like Lesotho – acted even before a single case was reported.

It declared an emergency and closed schools on 18 March, and went into a three-week lockdown about 10 days later in unison with many other southern Africa states.

But only days after the lockdown was lifted – in early May – did Lesotho find its first confirmed cases. In a population of more than 2 million, it has so far recorded about 1,700 cases and 40 deaths.

2: Public support

Old-age homes are not common in most African countries

In a survey conducted in 18 countries in August by PERC, public support for safety measures was high – 85% of respondents said they wore masks in the previous week.

“With strict public health and social measures implemented, African Union member states were able to contain the virus between March and May,” the report said.

It added that “minor loosening [of restrictions] in June and July coincided with an increase in the reported cases across the continent”.

Since then, there has been a notable drop in the number of confirmed cases and deaths in about half of the continent, possibly linked to the end of the southern hemisphere winter (see below).

Adherence to Covid-19 measures. A survey in 18 African countries. Self-reported adherence to coronavirus measures in Africa. The report draws on findings from a telephone poll of more than 24,000 adults in 18 AU Member States (conducted between 4 and 17 August 2020) as well as social, economic, epidemiological, population movement, media and security data. It draws on findings from a telephone poll of more than 24,000 adults between 4 -17 August 2020.

The implementation of the restrictions came at a huge cost. Livelihoods were lost on a large scale. South Africa – which had one of the most stringent lockdowns in the world – lost 2.2 million jobs during the first half of the year.

More and more countries have been forced to re-open their economies even though the number of cases is much higher than when they ordered the shutdowns.

According to the PERC report, public opinion about re-opening the economy was mixed – six in 10 respondents said economies needed to re-open and believed that the risk of getting Covid-19 was minimal if social distancing rules were followed.

However, seven in 10 said that thinking about resuming normal activities made them feel anxious.

“The data suggests that people across the AU see Covid-19 as a serious threat, but for many, the economic and social burdens outweigh their personal risk perception of catching the virus,” concluded the report.

3: Young population – and few old-age homes

The age of the population in most African countries is also likely to have played a role in containing the spread of Covid-19.

Globally, most of those who have died have been aged over 80, while Africa is home to the world’s youngest population with a median age of 19 years, according to UN data.

“The pandemic has largely been in younger age groups… about 91% of Covid-19 infection in sub-Saharan Africa are among people below 60 years and over 80% are asymptomatic,” said the World Health Organization (WHO).

Africa has a far younger population than Europe or the US

“We have [in Africa] about 3% of the population aged over 65 years,” said Dr Matshidiso Moeti, the WHO Africa head.

In comparison, Europe, North America and wealthier Asian countries have the oldest inhabitants.

“One of the big drivers in Western countries is that the elderly people were living in specialized homes and these became places where the transmission was very intense,” Dr Moeti added.

These homes are rare in most African countries, where older people are more likely to be living in rural areas.

Old-age homes are not common in most African countries

Some of those helping with Nigeria’s polio vaccination programme switched to targeting Covid-19

It is the norm in many African countries for people to return to their rural homes when they retire from employment in urban areas.

The population density in rural areas is lower and therefore maintaining social distance much easier.

Furthermore, an underdeveloped transport system within and between countries appears to have been a blessing in disguise. It means that Africans do not travel as much as people do in more developed economies, minimising contact.

4: Favourable climate

A study conducted by researchers in the University of Maryland in the US found a correlation between temperature, humidity and latitude, and the spread of Covid-19.

COVID-19 does not spread as well in sparsely populated areas

“We looked at the early spread [of the virus] in 50 cities around the world. The virus had an easier time spreading in lower temperatures and humidity,” said Mohammad Sajadi, the lead researcher.

“Not that it doesn’t spread in other conditions – it just spreads better when temperature and humidity drop.”

African countries away from the tropics have been worse off.

The spread of the virus accelerated in South Africa as the southern hemisphere went into winter.

But as it became warmer, the number of cases dropped significantly, impacting the continental outlook, as South Africa accounts for almost half the total number of cases and deaths on the continent.

5: Good community health systems

The COVID-19 pandemic came at a time when the Democratic Republic of Congo was dealing with its biggest outbreak of Ebola yet. Neighbouring states were on high alert, and the health screening of travellers for Ebola was extended to include COVID-19.

Several West African states – which battled the world’s worst-ever outbreak of Ebola from 2013-16 – had also mastered the public health measures that have been used to prevent COVID-19, including isolating the infected, tracing their contacts and then getting them quarantined while they get tested.

Some of those helping with Nigeria’s polio vaccination programme switched to targeting Covid-19

Furthermore, in Africa’s most populous state, Nigeria, teams that had been going into villages to vaccinate children against polio were quickly re-purposed to educate communities about the new pandemic.

This is a point that Dr Rosemary Onyibe, who had been working on the polio eradication programme, made in April:

“Once I heard the news, I instantly thought: duty is calling. My expertise is needed to serve my community.

“We immediately mobilized the existing polio personnel, tracking contacts and conducting follow-up visits.”

So, while hospital infrastructure in much of Africa is less developed than in other parts of the world, the continent’s strength lay in its tried and tested community health systems.

But all this doesn’t mean that people in Africa can afford to relax.

“The slower spread of infection in the region means we expect the pandemic to continue to smoulder for some time, with occasional flare-ups,” Dr Moeti said. -BBC

Editorial: National guidelines on food safety must be enforced by MMDAs

October 9, 2020

Food-Safety34 — Credit: Independent Ghana

A properly defined and enforced national guideline on food safety is critical to maintaining health and preventing malnutrition amidst the COVID-19 pandemic.

Head of Corporation of the Canadian High Commission in Accra, Corey Huntington says a robust and diverse food supply is an essential part of the health and nutrition response to COVID.

She spoke at the launch of the National Food Safety Guidelines for Metropolitan, Municipal and District Assemblies (MMDAs).

“Food safety is a crucial aspect of the food value chain and attention must be given it to ensure that all members of society, especially children and those who have particular vulnerabilities, consume food that is safe and healthy for their growth and productivity”.

Canada’s support for food security, she noted, is part of the Modernizing Agriculture in Ghana (MAG) Programme, for which Canada is directly providing US$125million to government. The MAG Programme has as its main objective, improving the production and productivity of farmers.

The initiative operates within the context of the current decentralization policy in Ghana, hence the role of the Local Government Ministry as a key implementing partner. At the core of the programme therefore is the issue of food safety and its impact on ensuring food security for the population.

The outbreak of the COVID pandemic on a global scale with the devastation it has wrought to nations and populations alike has heightened the need to ensure populations are nourished and healthy.

Ms. Huntington emphasized the need to integrate the food safety guidelines into the by-laws of MMDAs across the country since this would enhance the concept of decentralization and take the pressure of central government in prosecuting that agenda.

Nutrition is a critical component of the immune response. Balanced nutrition enhances one’s ability to resist infections and remain healthy. It is mandatory to attain and maintain a good nutritional status to fight against the COVID-19 virus.

Nutritional status of individuals has been used as resilience towards destabilization during this COVID-19 pandemic.

Optimal nutrition and dietary nutrient intake impact the immune system, therefore the only sustainable way to survive in this current COVID context is to strengthen the immune system.

MTN to deploy AI, others to fight MoMo fraud

October 9, 2020

Telcos giant, MTN Ghana, has said it continues to invest in its security systems including acquisition of Artificial Intelligence (AI) technology as part of its effort to secure the Mobile Money (MoMo) platform against activities of fraudsters.

Just a year ago, MTN Ghana launched a comprehensive security programme called the Marshall Plan, which also encompasses all the security around its MoMo platform.

Additionally, MTN Ghana indicates that it maintains a strong partnership with the Ghana Police Service, to forestall the activities of fraudsters and track cyber-crimes.

The Mobile Money Intelligence and Analytics Manager, Mr. Prosper Sossoe, for instance, said about 50 MoMo fraudsters have been arrested, since the beginning of the year, working in partnership with the Ghana Police Service. He added that prosecution of these fraudsters would soon commence.

Meanwhile, he explained particularly that the fraudulent activities are socially engineered to require strong awareness creation as one of the remedies. This, he said, MTN Ghana is doing through the education of its customers and the general public, to make them more vigilant on the activities of fraudsters.

The Corporate Services Executive (CSE) of MTN Ghana, Mr. Sam Koranteng, said they are aware of the development in Uganda where a third-party system connecting to multiple mobile money operators was compromised.

He disclosed that since 2019 about US$300 million network investments have been made while also making some significant investment in various communities across the country.

In support of the country’s effort to fight the outbreak of COVID-19, Mr. Koranteng said over GH₵5 million was spent on the acquisition and donation of Virus Sampling kits, N95 Masks, PPE (Overalls) PCR Machines among others.

Notwithstanding some of the setbacks brought as a result of the pandemic, Mr. Koranteng assured that MTN Ghana is on track to become a digital operator by end of 2023.

Standard Chartered supports KNUST School of Business 15th Business Week

October 7, 2020

Standard Chartered Bank Ghana Limited has announced its headline sponsorship package of GH¢50,000 for the 15^th Business Week of the KNUST School of Business. Additionally, the bank has donated state-of-the-art digital presentation equipment to facilitate teaching and learning activities in the institution’s new lecture auditoriums.

This sponsorship aligns to the bank’s digital agenda. Making the announcement during a presentation at the KNUST Business School, Yvonne Gyebi, Head, Retail Banking, Standard Chartered Bank said: “As a brand that is “Here for good”, the Bank is committed to promoting social and economic development in the communities in which we operate. Since the KNUST Business Week is known for highlighting issues that affect the socio-economic growth of our country, we are happy to partner with you.”

“We also hope that the state-of-the-art digital presentation equipment the Bank has donated will play a great role in supporting the institution to tap into the potential of technology as the world settles in the ‘new digital normal’ that has been occasioned by the COVID pandemic,” she added.

Standard Chartered Bank started its digital transformation in 2015 with its top priority being to simplify banking through innovative digital solutions like SC Mobile App, a fully digital bank on mobile launched in 2019, which allows customers to seamlessly transact virtually at any time.

Receiving the donations from Standard Chartered Bank, Professor Rita Dickson, Vice Chancellor, KNUST said: “I would like to express my appreciation to the Management of Standard Chartered Bank Ghana Ltd who have supported the University in diverse ways over the years.

I am happy to confirm and announce that the Bank has agreed to be the headline sponsor for the Business Week of the KNUST School of Business. Additionally, we are receiving state-of-the-art digital presentation equipment to facilitate teaching and learning in our new lecture auditoriums.

As the oldest Bank in Ghana, Standard Chartered continues to support diverse sectors of the economy including education and they by their actions and interventions continue to truly live their brand promise – “Here for good” by the many other initiatives they continue to support the communities in which the Bank operates,” she added.

Standard Chartered is a proud supporter of the UN Global Goals for Sustainable Development and is committed to playing its role in addressing issues raised in Goals 4 & 10: Quality Education and Reduced Inequalities.

The bank provides products and services to individuals and companies to drive local, regional and global economic development and job creation.

Vodafone celebrates and reward customers

October 7, 2020

Vodafone reaffirms commitment to customers through Care Week celebration — Photo: Angela Mensah-Poku, Director of Digital Transformation and Commercial Operations at Vodafone

In line with its commitment to continually reward and engage its customers, Vodafone Ghana is once again celebrating Customer Experience Week with a host of exciting activities and initiatives.

Commencing the week-long celebration, Vodafone offered its customers free and unrestricted calls to Vodafone numbers all day on Sunday.

Throughout the week, Vodafone will engage and reward its customer base, including enterprise customers, with exciting prizes such as Vodafone Cash, gift baskets, mifis with data, airtime and Vodafone souvenirs. Vodafone is also giving away unique gift packs to customers during an ‘unspecified hour’ within its shops. The items in the gift packs include hand sanitisers and nose masks.

Vodafone’s Enterprise Customers will also get to use the Telco’s Bulk SMS platform and Caller Ring Back Tune for promotional campaigns throughout the month.

Commenting on Vodafone’s Care Week celebration, Angela Mensah-Poku, the Director of Digital Transformation and Commercial Operations said: “At Vodafone, we continually strive to deliver an outstanding customer experience by putting the customer first. This has been embedded in our day-to-day business to ensure great customer experience remains at the heart of what we do.

“Customers want the best of services at all times, because it is a promise we make to them when they sign up with us. Our brand promise is a proposition to stand beside the customer at all times as they make the leap into the unknown digital future.

“Throughout the week, we step-up our superior passion for customers and project our undisputed leadership in customer experience. The customer deserves more – and we understand that language: I dare say more than any other company in Ghana’s fast-paced telecommunications sector.”

As part of the organisation’s loyalty programme, Vodafone will also reward customers whose birthdays are in October with free on-net calls to friends, families and loved ones. Customers also get to enjoy free on-net calls for a number of days on their 2^nd, 5^th and 10^th anniversary on the network.

National Science & Maths Quiz: Absa Money Zone gets more exciting

October 7, 2020

The Absa Money Zone presentation to a winning school

The 2020 National Science & Maths Quiz (NSMQ2020) is getting heated with a mix of excitement and sadness. The competition which is now in the Absa Money Zone stage is becoming more intense and interesting as big schools fall out.

Schools such as Prempeh College, Wesley Girls High School, Holy Child, St. Peters School, Pope John and current champions St. Augustine’s College have all been kicked out of the competition.

Meanwhile Boa Amponsem SHS, Aburi Presbyterian SHTS, Achimota School, Adisadel College and Kumasi Academy have all booked a place in the semifinals. Other semifinalists are Keta SHS, Accra Academy, Opoku Ware and Presbyterian Boys Secondary School, Legon.

The Absa Money Zone which begins from the Quarter Finals stage through to the Grand Final rewards all contesting teams with a cash prize based on their score points earned in each contest.

Commenting, Cyril Nai, Head of Marketing at Absa Bank Ghana said the Absa Money Zone is to motivate contestants to give off their best as well as reward them for their hard work and determination.

“Apart from rewarding all contestant with cash, the Absa Money Zone, more importantly, is to encourage contestants to keep up a positive attitude when the going gets tough and to motivate them to compete with honour, knowing that they will be rewarded for every point they earn,” said Mr. Nai.

The NSMQ2020 Absa Money Zone prize value for all stages has been increased. The final scores of each school would be multiplied by GH¢10.00, GH¢15.00 and GH¢25.00 as prize money from the Quarter Final, Semi Final and Final stages respectively.

Absa Bank Ghana has agreed a three-year major sponsorship package for NSMQ organised by Primetime Limited in partnership with the Ghana Education Service. The investment makes Absa Bank the lead sponsor in key aspects of the competition including the Money Zone, Sci-Tech Fair, Mentoring Session and Regional Championships among others.

NIC trains 62 youth as Insurance Sales Agents in the C/Region

October 7, 2020

NIC — Photo: Some of the Sales Agents at the training

The National Insurance Commission (NIC) has trained 62 youth as Insurances Sales Agents at Cape Coast in the Central Region.

The youth training is for job creation that will ultimately lead to an increase in the insurance penetration rate.

Also, it is to equip them for engaging the insuring public in a more professional and ethical manner.

In August 2019, NIC began training 10,000 Ghanaians as Insurance Sales Agent. The training is being provided by the Ghana Insurance College (GIC) and funded by the NIC, and is expected to provide a lot of job opportunities.

Mr. Justice Ofori, the Commissioner of Insurance at the training said: “You have been trained to achieve the necessary quality of excellence that will lead to sustainable industry growth”.

He noted that individuals and businesses would like to see responsible insurance professionals imbued with a deep sense of integrity, fairness, transparency and diligence.

“You have been trained to bring insurance to the people’s doorsteps in a more responsible and professional manner; exhibit transparency in your dealings,” he added.

According to him, the insurance industry presents the youth with enormous employment opportunities. However, lack of requisite technical and professional knowledge is often a hindrance to the youth trying to access these opportunities.

He added that a vibrant insurance industry depends largely on the development of its human capital needs, and urged the youth to take advantage of the opportunity to better themselves.

MTN shines light on scaling innovation, e-Commerce for retail businesses

October 7, 2020

MTN is set to host the 29^th edition of MTN Business World Executive Breakfast Meeting on October 8, 2020 – under the theme ‘The Changing Face of Retail in Ghana: Scaling Successfully with Innovation and e-Commerce’.

The breakfast meeting will stream live on MTN Ghana’s Facebook page (mtnghana) and YouTube (@mtnghana) from 10 AM and is designed to give startups a unique opportunity to interact with distinguished speakers who are making great strides in their businesses through e-Commerce and innovative services.

Speakers to join the discussion are Kosi Antwiwaa Yankey, Executive Director-National Board for Small Scale Industries (NBSSI); Emi-beth Aku Quantson, CEO-Kawa Moka Coffee; Alex Bram, CEO-Hubtel; Gwen Gyimah Addo, CEO-The Hair Senta/Business Strategist; and Violet Amoabeng, CEO-Skin Gourmet Ltd.

According to Industry Intelligence Experts, e-Commerce in Ghana is growing and changing in terms of innovation and dynamism. Even as it continues to grow exponentially around the world, its adoption in Ghana is also on the rise. There is a myriad of things that a growing retail business needs to do in order to keep up with changing trends.

Commenting on the discussion’s focus ahead of the event, Samuel Addo, General Manager for MTN Business said: “Trying to scale one’s business can prove a daunting task in this fast-paced world. We are aware that a plethora of factors influence the extent to which online businesses are successful in a country.

“Some of these are Internet speeds and penetration, payment platforms and solutions, e-Commerce software, delivery and logistics management, addressing systems, favourable regulatory frameworks, among others.

“The aim of MTN Ghana’s 29^th Business Breakfast Series is bringing together industry experts to share insights on how to optimise e-Commerce and technologically-driven innovations to support the growth of businesses.”

He encouraged all business owners as well as persons looking for opportunities to optimise innovation for business growth to be a part of the 29^th Edition of The MTN Business World Executive Breakfast Meeting.

Amid COVID-19, FDIs rose in 2020 Q2

October 7, 2020

Ghana Investment Promotion Centre re-elected — Photo: Chief Executive Officer of Ghana Investment Promotion Centre, Yoofi Grant

Ghana recorded an increase in Foreign Direct Investments (FDIs) during the second quarter of the year as against an initial decline in the first quarter of 2020 – in contrast to global predictions following the outbreak of the coronavirus disease, Chief Executive of the Ghana Investment Promotion Centre (GIPC), Yoofi Grant, has said.

Global FDI was estimated to drop below US$1trillion for the first time since 2005, with developing countries tipped to be the hardest hit in the assessment of economic impacts from COVID-19, according to a UN report.

However, it had noted that the decline would depend on the severity and duration of the pandemic across different regions and countries, and the scope of containment measures governments would put in place.

But speaking as part of a panel discussion on the impact of COVID-19 on businesses, at the back of launching the ‘For Better Business Together (4BBT)’ programme, Mr. Grant said that despite the pandemic’s initial effect on investments, some remarkable progress has been made.

He said the immediate remedies pursued by the government – including quarantines, closure of borders among others – curtailed business developments. However, he said, things changed in the second quarter, irrespective of the pandemic’s impact on global business activities.

He attributed this development to transactions which were in the pipeline, as well as some “significant opportunities that also came up” as a result of the COVID-19 pandemic. This, he said, provided a chance for ‘smart investors’ who took the opportunity to make sure their companies survived while also helping to beat the pandemic.

“We’ve seen quite a bit of interest in industry or manufacturing within Ghana because there was a severe disruption to supply chains with the advent of the virus. And, therefore, many countries that were locked out of the global supply chains had to come up with their own solutions,” which brought investment to those areas in Ghana.

Also, he said, the agricultural sector has seen increased investment as part of efforts to guarantee food security.

The 4BBT programme is a collaboration between the Ministry of Business Development of Ghana, International Chamber of Commerce (ICC), the United Nations Development Programme (UNDP), and the Business for Peace Foundation in Oslo.

The programme-launch saw the announcement of both global and local initiatives being built to support economic recovery and strengthen the sustainability and resilience of businesses in Ghana.

Chief Executive officer of the National Entrepreneurship and Innovation Programme (NEIP), John Kumah, sharing insights on the contributions of his outfit to business growth noted that for the past three and half years some 45,000 startup businesses have been engaged by NEIP, and it has funded about 9,350 of them.

He noted that through the work of NEIP, close to 100,000 jobs have been created in the private sector while influencing the paradigm of job-creation among others.

“So, all these are some of the initiatives we have taken within Ghana to ensure we take a lot of young people away from an unemployed situation to a much more empowered situation, by creating an enabling environment for the entrepreneurship ecosystem in Ghana.”

Why energy investors are pivoting towards ESG funds

October 6, 2020

After years of just bubbling under, the ESG megatrend has finally opened the afterburners. At a time when the reminders of past flameouts by the fossil fuel sector have been amplified by the pandemic, the Environmental, Social, and Corporate Governance (ESG) momentum has reached fever-pitch with assets invested in ESG funds eclipsing the pivotal $100B mark.

According to ETF navel-gazer ETFGI, assets invented in ESG-themed Exchange-Traded Funds (ETFs) and Exchange-Traded Products (ETPs) reached a record $101B globally by the end of July, 18 years after the products were first introduced into the market.

The remarkable milestone was achieved after the global sector racked up inflows of $38.8B for the first seven months of the year. That was more than 3x the $12.4B that the sector was able to attract during last year’s corresponding period and significantly higher than the $26.7B of net inflows recorded over the entire year.

Around the globe, there were nearly 400 ESG-based ETFs/ETPs at the end of July, with more than 1,000 listings from 92 fund providers in 25 countries.

Global ESG ETF and ETP asset growth as at the end of July 2020. Source: ETFGI

Europe leads the way

Not surprisingly, Europe-based ETFs have been seeing the lion’s share of the action, accounting for 51.6% of overall assets.

Luxembourg-based Amundi MSCI Emerging ESG Leaders UCITS ETF DR- Acc (SADM GY) was the best-performing fund after garnering $588.82 million. Amundi attempts to replicate the performance of the MSCI EMERGING ESG LEADERS 5% Issuer Capped Net Total Return Index through a direct replication methodology. Its top five holdings are:

- Alibaba Group (NYSE: BABA)–0.04%
- Taiwan Semiconductor Manufacturing (NYSE: TSM)–0.04%
- Tencent Holdings (TCEHY)–0.04%
- Meituan Dianping (MPNGF)–0.03%
- Reliance Industries (NSE: RELIANCE)–0.02%

The United States is also well represented in this megatrend, commanding 40.1% of global ESG assets.

U.S.-based iShares ESG MSCI USA ETF has been the second-best performer after attracting new assets worth $587.05 million. The fund seeks to track the investment results of an index composed of U.S. companies that have positive environmental, social, and governance characteristics as identified by the index provider.

Other global ESG ETFs that have been attracting plenty of investor interest include:

Cathay Taiwan Select ESG Sustainability High Yield ETF–$493.2M
iShares Global Clean Energy UCITS ETF–$259.03M
Quadratic Interest Rate Volatility and Inflation ETF–$219.81M
iShares ESG MSCI EAFE ETF–$217.89M
iShares ESG USD Corporate Bond ETF–$214.87M
Xtrackers MSCI Japan ESG UCITS ETF-1C-Acc–$157.86M
CSIF IE MSCI World ESG Leaders Minimum Volatility Blue UCITS ETF–$143.19M
iShares MSCI Europe SRI UCITS ETF- Acc–$141.42M

Clean Energy ETFs Outperforming

Back in the U.S., low-carbon and renewable energy ETFs have been shooting the lights out, with some popular names even recording triple-digit gains. For instance, one of the sector’s favorite benchmarks, the First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) is up 81% in the YTD compared to a 52% decline by the Energy Select Sector SPDR Fund (XLE).

Here are some of the top-performing ETFs in the clean energy sector so far this year.

#1. Invesco Solar ETF

AUM: $1.58B

Expense Ratio: 0.7%

YTD Returns: 119.03%

Invesco Solar ETF (TAN) is an exchange-traded fund that’s solely dedicated to companies in the solar sector. The ETF tracks the MAC Global Solar Energy Index, which itself tracks companies involved in a wide range of solar technologies, provision of raw materials, manufacturing, installers, solar plant operations etc.

TAN’s top 5 holdings include:

SolarEdge Technologies–7.83
Xinyi Solar Holdings Ltd–6.68%
First Solar–6.64%
Enphase Energy Inc.–6.59%
Sunrun Inc.–6.33%

#2. Invesco WilderHill Clean Energy ETF

AUM: $781.77M

Expense Ratio: 0.7%

YTD Returns: 84.14%

Invesco WilderHill Clean Energy ETF (PBW) is an exchange-traded fund designed to track US-listed stocks in the Clean Energy sector: specifically, companies that stand to benefit from the transition towards the use of cleaner energy, zero-CO2 renewables. PBW is rebalanced quarterly.

Top 5 holdings include:

Workhorse Group Inc.–4.37%
NIO Inc.–4.25%
Ballard Power Systems Inc.–3.29%
Tesla Inc.–3.19%
Vivint Solar Inc.–3.15%

#3. First Trust NASDAQ Clean Edge Green Energy Index Fund

AUM: $278.22M

Expense Ratio: 0.6%

YTD Returns: 83.13%

The First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) seeks to replicate the performance of the NASDAQ Clean Edge U.S. Liquid Series Index, a modified market-cap-weighted index designed to track the performance of clean energy companies that are publicly traded in the United States.

QCLN’s top holdings include:

Tesla Inc.–11.02%
NIO Inc.–7.29%
Brookfield Renewable Partners–5.78%
Albemarle Corp.–5.48%
SolarEdge Technologies–4.81%

Russia-Africa: The way forward

October 6, 2020

Russia is consistently working on strengthening multifaceted relations with Africa despite the numerous challenges. After the first Russia-Africa summit held in Sochi, authorities have been moving to build on this new page in the history of Russia’s relations, based on shared values and interests, with African countries. Within the framework of the joint declaration adopted in Sochi, the Ministry of Foreign Affairs of the Russian Federation created a Secretariat of the Russia-Africa Partnership Forum.

On May 18, Deputy Director of the Department of Africa at the Russian Foreign Ministry, Oleg Borisovich Ozerov, was appointed Ambassador-at-Large and Head of the Secretariat of the Russia-Africa Partnership Forum. He is a diplomat with extensive experience at the Foreign Ministry, including with Arab and African countries. In 2010-2017, he was Ambassador to Saudi Arabia and in 2011-2017, Permanent Representative of the Russian Federation to the Organization of Islamic Cooperation.

In this interview, Oleg Borisovich Ozerov, Ambassador-at-Large and Head of the Secretariat of the Russia-Africa Partnership Forum, talks about the primary tasks of the Secretariat, current efforts at supporting Russian companies to work in Africa and the way forward with Russia-African relations. Here are the interview excerpts:

Q: Why it has become important, in the first place, to create the Secretariat of the Russia-Africa Partnership Forum within the Ministry of Foreign Affairs of the Russian Federation?

A: In October 2019 Sochi hosted the first-ever Russia-Africa Summit, ushering in a new era in the history of Russian-African cooperation. The outcomes of this event are evident in its final declaration. The first few points in the document outline decisions made by the event’s participants concerning the establishment of a Russia-Africa Partnership Forum as the Summit’s supreme body. It also stipulates that annual political consultations will be held between the Foreign Ministers of the Russian Federation and the African States acting as the present, former and future presidents of the African Union.

There needs to be a coordinated action between Russian government bodies and economic actors. This is to ensure that the decisions reached the previous Summit can be implemented, preparations for the next high-level Russian-African meeting made, and diplomatic support provided for communicating with the African Union and government bodies in Africa which oversee foreign policy. This need for coordinated action has led to the establishment of the Russia-Africa Partnership Forum Secretariat within the Ministry of Foreign Affairs of the Russian Federation. Incidentally, one of its key objectives will be to organize and conduct the aforementioned political consultations. The first round of these consultations was held in July of this year.

Q: The Secretariat has already held a few meetings. Could you please talk about some of the decisions that have been taken with regards to strengthening cooperation with Africa?

A: I would like to make a small correction. On 9 September this year, Moscow hosted the official presentation of the Russia-Africa Partnership Forum Secretariat and the Association of Economic Cooperation with the African States.

The senior management of the Secretariat’s working bodies were presented at this event. These included the heads of the coordinating council, research council, public council, and the working media group. These people are, respectively, Chairman of the Board and CEO of the Roscongress Foundation Alexander Stuglev, Director of the Institute for African Studies of the Russian Academy of Sciences Irina Abramova, Head of Rossotrudnichestvo Yevgeny Primakov, and Director General of TASS Sergey Mikhailov.

The first meeting of the coordinating council is planned for October this year. The research and public councils should meet accordingly shortly afterwards. Draft resolutions concerning the work of the Secretariat will be discussed at the aforementioned meetings, and the media will be informed of the outcomes in due course.

Q: Is it possible to discuss the roles of the three councils (business, research and public) that were created during the meeting of 9 September?

A: The decision to set up the councils was taken much earlier, as the concept for the Russia-Africa Partnership Forum Secretariat was being drawn up, which was established, as we know, in June this year. The Secretariat does not have a business council. Issues regarding coordination between federal government bodies and the business sector come under the remit of the coordinating council.

The Association of Economic Cooperation with the African States also performs the role of a business council and operates in close collaboration with the Secretariat. All three councils are staffed by highly qualified professionals. They include people specializing in international relations, economics and finance, science, business, society and the media, who provide expert support for the Secretariat’s operations.

Q: In your objective view, is there a lot of potential in terms of increasing trade and economic cooperation between the African continent and Russia?

A: Speaking to the press at the end of the inaugural Russia-Africa Summit, President of the Russian Federation Vladimir Putin noted that in 2018 Russia’s trade with African states exceeded US$20 billion. As pointed out by the Head of State, “It is absolutely feasible to reach higher, and bring the value of trade to, at least, US$40 billion over the next few years.”

The official figures to come out of the Sochi Summit pay testament to the enormous potential of economic relations between Russia and Africa. Of particular note is the fact that delegations from 54 African nations took part in the event. Of these, 45 were led by Heads of State and Government. The Summit was also attended by the heads of eight regional organizations in Africa, 109 foreign ministers, and two vice presidents.

The Russia-Africa Economic Forum, which took place alongside the Summit, was attended by more than 6,000 participants from 104 countries and territories. These included more than 1,100 foreign business leaders, 1,400 Russian business leaders, and 2,200 members of official delegations from Russia and abroad. Ninety-two agreements, contracts, and memoranda of understanding were signed worth a total of more than RUB 1 trillion.

I would say that when organizing and holding the next high-level Russian-African meeting, one of the main objectives will be to further reinforce the powerful momentum built up in Sochi in 2019 in terms of economic collaboration between Russia and African countries. We are now enjoying comprehensive and enduring collaboration which is founded on long-term programmes.

Q: Doing business is not easy in Africa, but what kind of approach do you envisage adopting when it comes to dealing with such issues?

A: We see our mission as uniting economic operators from Russia and Africa, and facilitating the sharing of information between them. We also aim to ensure there is political and diplomatic support for Russian businesses in African countries. The Secretariat will work in close collaboration with the aforementioned Association of Economic Cooperation with the African States.

We enjoy robust ties and have established communications with relevant Russian ministries and government bodies responsible for foreign trade, the Chamber of Commerce and Industry of the Russian Federation, the Russian Union of Industrialists and Entrepreneurs, the Coordinating Committee on Economic Cooperation with Sub-Saharan Africa (AfroCom) and many other organizations.

The task before us is to coordinate the actions of all stakeholders with the aim of effectively promoting Russia’s economic interests in Africa and to foster mutually beneficial cooperation with African nations.

Q: Apart from the corporate business at the state level, Foreign Minister Sergey Lavrov has spoken about developing medium-sized enterprises. Is this part of your plan?

A: Small and medium-sized enterprises have already been using the AfroCom platform to work together with African countries for a long time. Incidentally, this organization is planning to soon join the Association of Economic Cooperation with the African States. Our embassies’ consular departments and trade missions – where they exist – are also providing assistance to small and medium-sized Russian businesses. They are helping them to find partners in African countries and to establish business ties.

In accordance with the decisions made at the inaugural Russia-Africa Summit, we will also help build partnerships for small and medium-sized businesses, and help them to be more active and effective. The plans and strategies, which will be employed to achieve this, will be discussed at the first meeting of the coordinating council this October, as well as at other events.

Q: Looking at current developments and other active foreign players on the African continent, what do you see as the key challenges there?

A: In terms of intensifying economic collaboration between Russia and African countries, we need to anticipate the technical aspects of having Russian businesspeople, firms, and companies do business on the African continent. In particular, this means looking at transport accessibility (by air and sea), processes and forms related to mutual settlements, making payments, investment, providing loans, hedging risk, providing legal services and insurance, etc. Work on these aspects must be done immediately, in parallel with work on organizing the next Summit.

That said, however, the current coronavirus pandemic is causing considerable difficulties, at the moment. It is affecting international travel and is hindering economic activity across the board, including in African countries.

In terms of competing with other countries on the continent, we are counting on building relations between Russian firms and companies in such a way as to create a sense of camaraderie and solidarity when it comes to withstanding foreign competitors on the African market. This will be another area of focus for the Association of Economic Cooperation with the African States as it works in close collaboration with the Secretariat.

Q: Why do you think Russia’s soft power is not what it was during the days of the Soviet Union?

A: I cannot say I fully agree with that statement. There are numerous examples of how Russia has achieved notable success through soft power. I would like to particularly draw attention to the fantastic work being done by the Russian news channel Russia Today, under Margarita Simonyan’s leadership. And I cannot ignore the fact that in many African countries, a number of important roles within the African Union and a host of other regional organizations are staffed by graduates of Soviet and Russian universities. This says a great deal about the nature of Russian-African partnership. And there is still a high degree of interest among African people in studying in the Russian Federation.

I am also aware that Rossotrudnichestvo (the Federal Agency for the Commonwealth of Independent States, Compatriots Living Abroad and International Humanitarian Cooperation) is working hard to make Russia’s humanitarian presence both more effective and more keenly felt abroad, including in African countries.

Q: What plans do you have in terms of developing cooperation in education, the media and culture over the next few years?

The final declaration of the inaugural Russia-Africa Summit includes an entire section on our collaboration in science, culture, education and social ties. Rossotrudnichestvo is the main body in Russia responsible for humanitarian cooperation, including with African states. At the next meeting of the public council, we intend to discuss this agenda in detail with Yevgeny Primakov, who heads the organization. This discussion will take place within the context of implementing the decisions of the Sochi Summit and working towards fulfilling associated objectives.

Key insights into land degradation from seven African countries

October 6, 2020

A maize farmer in Kenya surveys his degraded land Photo by David Bathgate Corbis via Getty Images — Photo: A maize farmer in Kenya surveys his degraded land. Photo by David Bathgate/Corbis via Getty Images

The land is essential to our lives – we grow food on it and rely on it for economic growth and development. In sub-Saharan Africa, approximately 83% of people depend directly on the land for survival.

However, approximately two-thirds of the continent’s productive land is degraded – it has lost its productive capacity – to some degree. This is driven by years of overgrazing, inappropriate agricultural practices, extreme weather events and the conversion of forest land into farmland. The future doesn’t look promising either as Africa is the only continent where deforestation and forest conversion to agricultural land is on the rise.

Reversing and preventing land degradation is critical if we want ecosystems to keep working; for instance, providing food, freshwater and regulating the climate, natural disasters, and pests.

Fortunately, there is a considerable global commitment to reverse and halt further land degradation. The Bonn Challenge, for instance, is a global effort to restore 350 million hectares of degraded land by 2030. There are also several important regional initiatives, such as the Africa Forest Landscape Restoration Initiative (AFR100), which aims to restore 100 million hectares by 2030.

Regreening Africa is another effort that my colleagues and I have been working on. Funded by the European Union and led by World Agroforestry together with five non-governmental organisations (NGOs), the programme works directly with 500,000 households to restore one million hectares of agricultural land. The programme is happening in Ethiopia, Ghana, Kenya, Mali, Niger, Rwanda, Senegal and Somalia.

In 2018, we carried out a baseline survey in seven of the eight participating countries, which has just been published.

We found high levels of land degradation in programme sites across all seven countries. We also found that farm incomes were generally low, though trees were present on most farms and most farmers had already engaged in re-greening activities.

These findings will allow us to assess how the Regreening Africa programme will affect people and the environment and generate evidence on how land restoration efforts can be scaled up, a key aim of this initiative.

Baseline levels of degradation

Regreening Africa works by supporting farming households to plant appropriate tree species on their farms and facilitate their natural regeneration. Farmers are linked to tree product value chains as an incentive.

In addition, the project promotes other land restoration practices, such as intercropping, reduced tillage, soil erosion control structures and water harvesting.

Our data collection focused on levels of exposure to agroforestry training, the uptake of regreening practices, indicators of land degradation – such as soil erosion, soil organic carbon, and vegetative cover – and farm income.

Using satellite imagery and scientific models, we detected high levels of land degradation. Soil erosion prevalence – a key indicator of land degradation – was found to be high in all seven countries, but highest in Niger, where over 75% of the fields were found to be highly degraded. The highest variation of soil erosion was found in Kenya, where approximately half of the fields were both above and below 50% erosion prevalence.

Trees on farm

Across the seven countries, 94% of households reported the presence of at least one tree on their farm or homestead. The estimated average number per hectare was 150.

This average value masks the huge variation in numbers and species composition. For instance, households in East Africa had an average of 195 trees per hectare on relatively small landholdings. By contrast, there was an average of 12 trees per hectare on the larger farms of the Sahelian action sites.

We are also tracking the ratio of native to exotic species to ensure the ecosystem balance isn’t being undermined. In general, households tended to have more native trees species on their farms compared with exotic species. This trend applied to all countries, save for Rwanda.

Regreening action

What was encouraging is that over half of survey households (59%) undertook action to scale up trees on their farms in the year prior to being interviewed. This action varied across and within the seven countries.

Action to address degradation was found to be highest among Kenyan households, followed by those of Ethiopia. The most popular action undertaken was pruning existing trees on a farm (36% of households), followed by tree planting (20% of households).

The survey also captured data on exposure to regreening-related training in the 12 months before they were surveyed. This was found to be low at 15% overall (11% women and 18% men), but with statistically significant variation across countries.

Farm income

One of Regreening Africa’s central hypotheses is that farmers are more likely to invest in land restoration, including tree establishment if they can clearly see the potential financial benefits from doing so. This is expected to be through, for instance, the future promise of selling tree-related products, such as fruits, timber and honey, or through boosting crop productivity, resulting from the restoration of degraded soils.

Consequently, the baseline survey captured data on baseline levels of both total farm income and income specific to tree products. Because trees take time to establish, such income streams were modelled over 10 year time horizons.

The without-project (“business as usual”) projections for total farm income (income from both crops and tree products) were found to be generally low but with considerable variation across countries and households. For example, average Year 1 per capita projections ranged from US$690 for Niger to US$3,150 for Mali.

The 10-year per capita projected returns for tree products was found to be highest for Rwanda at US$4,858 on average, followed by Kenya (US$1,625 on average) and Mali (US$1,448 on average). Indeed, Rwanda was the only country where tree products made up a significant share of projected farm returns, given high levels of historical investment in fruit tree production. There is therefore significant room to bolster the economic contribution of trees in the farming systems Regreening Africa is targeting.

Implications

An overarching conclusion following the baseline survey is that there is huge variation both across and within the seven countries. No one size fits all. Regreening Africa must therefore ensure that restoration practices are carefully tailored to the local context. It’s also important to meet the goals of restoration and income generation simultaneously.

Regreening Africa is now at about the halfway mark of activity implementation. Much progress has been made, with field teams adjusting their operations to the new COVID-19 reality. The programme’s final survey will (hopefully) take place in a post-pandemic world and with strong evidence that it is possible to produce the food people need without undermining the health of the land.

Karl Hughes is the Head of Monitoring, Evaluation and Impact Assessment, World Agroforestry Centre (ICRAF)

This article is republished from The Conversation under a Creative Commons license

China doubles down on nuclear energy to cut carbon emissions

October 6, 2020

Around the world, there is a sweeping movement toward a global green energy transition. While world leaders have been urged by experts for years to start lowering greenhouse gas emissions and start battling climate change with a sense of urgency, the COVID-19 pandemic has, in its severe and continued destruction of the global economy, catalyzed the decarbonization of our economies. The pandemic has given the global community an unanticipated interruption to the status quo and a vital, once-in-a-lifetime opportunity for what the World Economic Forum advocates as a “new energy order” and a “great reset.”

The movement is widespread; Chile and the European Union are instating or planning to instate renewable “energy communities,” in Europe Big Oil is transitioning to Big Energy, Australia is investing heavily in hydrogen to meet its target of carbon neutrality by 2050, and now even China, one of the key nations for curbing global carbon emissions, has announced its own extremely ambitious plan to bring its carbon footprint to zero by the year 2060. In fact, the United States is one of few holdouts in the global energy transition as many of the world’s most powerful economies embrace decarbonization as an inevitability and rush to corner the green energy market.

For China, however, their ambitious decarbonization plan may be easier said than done. While Beijing releases ambitious plans, cynics have a strong argument to make that it may just be a heap of greenwashed propaganda. At the same time that China is making grand plans about a net-zero carbon footprint, the country is constructing new coal-fired plants at a healthy clip, and coal has easily maintained its dominance of the country’s energy mix.

So how will China go about replacing the coal that they rely so heavily upon? “To replace all that coal capacity,” Quartz reported this week, “China will rely primarily on wind power. The biggest relative gain would be in solar – no surprise, since China has spent the last several years building itself into the world’s leading solar superpower. But the plan also imagines a pivotal role for nuclear.”

China has been on the rise as one of the world’s foremost nuclear powerhouses for years now. Despite years of decline, the U.S. is still the foremost nuclear power producer in the world, accounting for about one-third of global nuclear energy production. But China is hot on its heels and plans to add huge amounts of nuclear capacity over the coming years, quadrupling its current production levels. “GlobalData Plc predicts that China will pass France as the world’s No. 2 nuclear generator in 2022 and claim the top spot from the U.S. four years after that,” Bloomberg Green reported in June.

This strategy is a significant contrast from other decarbonization roadmaps in places like Europe and Australia, where nuclear remains divisive among politicians and constituents alike. While the global nuclear energy industry has stagnated, China is charging full steam ahead. “Right now, the center of gravity has decisively shifted toward China,” Jacopo Buongiorno, a nuclear scientist at the Massachusetts Institute of Technology, was quoted by Quartz. “They’re growing fast and [the US and EU] are shrinking. They’re trying everything, which is quite exciting to watch.”

China’s approach to nuclear is strikingly innovative. Another unique attribute of China’s decarbonization plan and overall approach to nuclear energy is that the country is working on developing compact nuclear plants that can be located in residential areas on top of the more standard large-scale nuclear plants that connect to the grid. It is also “rolling out small plants that float on ocean barges, which can be used to power offshore oil and gas operations. And it’s building cutting-edge plants that operate at exceptionally high temperatures and are used for industrial facilities,” reports Quartz.

While nuclear energy has considerable drawbacks – very rare but extremely hazardous meltdowns and other nuclear disasters, hazardous waste with a radioactive half-life that will outlive us all, and high levels of water consumption, to name a few – it holds enormous promise for lowering global greenhouse gas emissions. And China is one of the countries that most need to downsize its carbon footprint. While China’s zero-emissions target is an ambitious one, their assertive nuclear plan could get them there.

Rethinking pensions investing amidst uncertainty – Axis Pension Trust

October 6, 2020

Mr. Afriyie Oware – CEO, AXIS Pension Trust

The first few quarters of the year have been dominated by events related to the health and economic pandemic – including loss of life and economic livelihood. Ghana’s GDP, according to the most recent forecast from the Ministry of Finance, of 0.9% is the lowest the country has recorded since 1983. The attendant effect of the financial sector cleanup in addition to the pandemic has tested the resilience of the Ghanaian economy.

Nonetheless, in the midst of chaos, uncertainty and negative growth, Ghana still stands tall amongst her peers, recording marginal growth supported by a well-diversified natural resource base and an economic environment that drives entrepreneurship and innovation. Fund Managers are without a doubt navigating uncharted territory as they look to invest pension assets prudently for scheme beneficiaries.

Industry Insights

The equity market, in particular, is trading at depressed levels particularly due to a combination of factors, key amongst them is the financial sector cleanup and the effects of the COVID-19 Pandemic. In addition, the lack of liquidity on the market may imply a much longer recovery for the market. Foreign investors continue to dominate trading activity on the GSE and continue to stay away from the Ghanaian market due to the upcoming elections as well as favorable asset prices in their home country due to policy support. For this reason, liquidity may be missing in the Ghanaian market for a prolonged period of time if no deliberate action is taking.

Confidence in the stock market is waning from both institutional and retail investors as wealth continues to be lost on the market. If no deliberate action is taken, there will come a time when interest is totally lost in the market. The dearth of investment options has meant pension assets are heavily invested in government securities, explaining the stability in yields. (Ghanaian pension funds have over 60% allocation to government debt only).

However, with inflation expectations inching upwards real returns continue to reduce, putting scheme assets at risk. Giving the incessant depreciation of the Ghanaian cedi, it may be prudent to increase exposure to FX yielding assets to hedge the fall in local currency. Pension Funds in developing countries are increasingly allocating capital abroad. The average foreign allocation of developing countries for which data is available is 24%. For Africa, it is 25% and 0% for Ghana.

Policy Recommendations

To solve the problem of liquidity, it is imperative that policymakers provide the environment for local institutional investors – particularly pension funds – to drive liquidity on the market. This can be achieved by setting a floor on equity allocation by fund managers in the pensions industry. This policy will ensure that the market is less exposed to risks of the action of foreign investors which continue to influence the direction of the stock market. Enhanced liquidity will enhance price discovery of stocks on the market which has the added benefit of providing retail investors opportunities to regain lost wealth. Ghana continues to lag its peers when it comes to pension assets exposure to the stock market and this can explain the lack of development in activities on the bourse.

Regulators must encourage and facilitate the approval of alternative asset classes and securities in order to increase investment options on the capital market. Such asset classes/securities include Private Equity/Venture capital and private credit.

Continuous education must be prevalent in the securities industry and regulators must ensure that fund managers and trustees have the capacity to support a more developed capital market.

It is imperative to consider increasing allocation to investments such as equities and more particularly to alternative asset classes such as Private Equity and Real Estate. The regulator must provide the right regulatory framework for these asset classes to exist in the ecosystem and practitioners must ensure that capacity is built in-house in order to evaluate these assets on behalf of scheme members/beneficiaries. Regulators must go a step further by providing incentives to promote the development of these asset classes and ensure a minimum allocation to these securities particularly in equities.

In addition, taking into account that 100% of pension assets are invested in Ghana and with over 70% exposed to government securities, assets face huge concentration risk. Looking at government’s debt level – Public debt service costs as a proportion of government revenues have been rising since 2008 and are now well above Pre-HIPC levels and the minimum threshold recommended by the IMF for low-income countries – External Debt Service Costs are now well above the minimum threshold recommended for low-income countries – it may well be prudent to start the conversation in gaining exposure offshore.

Axis Pension Trust partners workers throughout their retirement planning journey to ensure they are on track to achieve a dignified retirement. For more information on our services or general enquiries, send an email to [email protected] or call 030 273 8555.

FBNBank launches agent banking

October 5, 2020

As part of the strategy to broaden the opportunities and access to financial services for the unbanked and underbanked segment of our society, FBNBank Ghana has launched the Agent Banking channel.

Speaking at the launch of the FBN Agent Banking channel, Victor Yaw Asante, Managing Director of FBNBank Ghana said the bank has leveraged new and evolving technologies to provide access and bring affordable and convenient financial services closer to customers through a network of agents.

Mr. Asante expressed the concern that lack of access and usage of financial services by a significant portion of the population hinder their ability to contribute to the economy as they may not able to attract capital or secure credit for production and/or consumption purposes.

According to the FBNBank Ghana Managing Director, this highlights the need for financial inclusion as a socio-economic development tool. He said financial inclusion has emerged strongly as a current issue among policymakers, development partners and the private sector, all of who recognise it as an enabler for attaining the United Nation’s Sustainable Development Goals (SDGs).

Mr. Asante noted that the bank will work with its network of agents to present a convenient and comfortable alternative for customers that require simple and easy to use digital channels across the country.

“Our agent banking project will go along with continuous innovation and a roll-out of new and improved electronic ways that will allow many users to carry out several transactions within their communities at FBNBank Agent locations,” the FBNBank Ghana MD said.

He was optimistic that FBNBank Ghana will leverage on the experience and knowledge of its parent, First Bank of Nigeria Limited that had grown its agent banking model, Firstmonie, launched in 2017, with the indirect creation of over 150,000 jobs through its over 53,000 Firstmonie Agents to meet the needs of customers.

Welcoming guests to the launch of the FBNBank Agent network, the bank’s Country Head for Technology & Services, Rachel Adeshina remarked that “the FBNBank Ghana Agents are positioned within the Accra-Tema metropolis and other locations around the bank’s branches to provide basic financial services such as account opening, cash deposit, cash withdrawals, funds transfer and much more to customers.”

She added that “through this channel, the bank is committed to providing convenient services that endear trust, provide ease of access to financial products, thereby saving time and travel cost.”

Standard Chartered Bank support infrastructure and manufacturing sectors

October 5, 2020

Standard Chartered Bank Ghana Limited has today published its Impact Study Report assessing the socio-economic impact of its lending to infrastructure and manufacturing sectors in Ghana.

This is the second Impact Study and it explored an evolved approach to measuring the Bank’s Sustainability Aspirations by examining, quantifying and describing the socio-economic impact of Standard Chartered’s manufacturing and infrastructure commercial lending books in Ghana. The first Impact Study by the Bank was done in 2009.

The Report highlights that the Bank’s lending to the manufacturing and infrastructure sectors generated GDP impact of US$507million equivalent to GH¢2.8billion between 2009 and 2019. This translates to 1.1 percent of GDP.

Additionally, the lending supported 121,809 jobs in the Ghanaian economy while directly and indirectly providing opportunities for the Bank to expand its impact by collaborating with clients on inclusion, diversity and environmental protection.

Commenting on the report, Mansa Nettey, Chief Executive, Standard Chartered Bank Ghana Limited, said, “our socio-economic report highlights the scale of Standard Chartered’s contribution to Ghana’s development priorities, creation of employment opportunities, and GDP growth; through our lending to the infrastructure and manufacturing sectors.

We remain Here for Good and are committed to working in partnership with our clients and key stakeholders, whilst leveraging our network to deliver sustainable development and the financing of the UN Sustainable Development Goals.”

During the launch, Julie Wallace, Global Head Community Engagement, Group Sustainability, Standard Chartered said: “Our Sustainability Aspirations are linked to the United Nations Sustainable Development Goals and define targets to demonstrate how we are achieving sustainable outcomes, through our core business, our operations and our investment in communities. Routine reporting does not measure these impacts. This study is a proof point of the Group’s approach to measuring impact and provides recommendations for the Group’s impact strategy”.

The Impact Study is the product of a partnership between the Bank and impact advisors, Genesis Analytics, to redesign and test an evolved approach to the Bank’s impact reporting and measurement that will set the pace for the financial sector in Ghana and beyond.

“Standard Chartered is exploring innovative ways to measure impact, and has been working with us, to first redesign and then test an evolved approach to impact reporting and measurement”, Ryan Short, Head of the Shared Value and Impact Practice, Genesis Analytics.

Infrastructure and manufacturing remain to be pivotal drivers of economic development and are aligned with government development policy priorities in Ghana. Globally, the Bank has published the first annual Sustainable Finance Impact Report, which highlights Standard Chartered’s contribution to tackling climate change and the financing of the UN’s Sustainable Development Goals and shows that 91% of lending is towards projects in emerging markets.

Editorial: Bridging the digital divide crucial to digitizing the economy

October 5, 2020

bawiimia_ecg — Photo: Vice President, Dr. Mahamudu Bawumia. Credit: Graphic online

Even as the Vice President, Dr. Mahamudu Bawumia has been pushing hard to digitise the economy, the digital divide in Africa, coupled with the fact that many people are excluded from online access through poverty and lack of coverage, makes it quite a daunting task.

Researchers have found that closing this divide cannot be achieved by cheaper technology alone. Using digital technology to access information and resources is only possible when a set of political, legal, and economic conditions are in place.

Ghana has historically been among the leading African countries in terms of telecommunications sector growth and policy. However, the locations where people live correlate closely with whether they use the Internet or not.

The higher urban Internet usage figures undoubtedly reflect better network coverage and service quality in those areas, as well as higher incomes and education levels among urban citizens.

The challenges facing Ghana’s access to internet are directly related to issues of usage and limited access. With a growing need for expansion in the tech sector, factors like high data costs, lack of access and resources is detrimental for entrepreneurs and educational institutions that specialize in digital technology.

Considering the fact that the average wage for Ghanaians is 8 cedi per day, which is comparable to US$1.67 US, making the current data costs an alarming price for users. With the rising costs of data and stagnant wages, most Internet users turn to mobile devices as a more affordable option, over laptops and desktop computers.

The average cost of a laptop is between 700 and 1500 cedis, and mobile phones ranging from 20 to 1,000 cedis. Communications Minister Ursula Owusu-Ekuful has said bridging Ghana’s wide digital divide is crucial to the country’s socio-economic development of the country.

The Ghana Investment Fund for Electronic Communications (GIFEC) is mandated by law to provide financial resources for the establishment of universal service and universal access to all communities, and to facilitate the provision of access to basic telephony, internet services, multimedia broadband and broadcasting services is playing an increasingly “critical role” in the digital transformation of rural settings.

The growth in teledensity in urban areas fueled by mobile technological uptake has resulted in a widening digital gap between rural and urban areas. The government would have to bridge this divide if its digital programme is to be beneficial.

Edward Frimpong wins another tourism award

October 5, 2020

Edward (left) receives a plaque from Joseph Appiagyei, GTA Regional Manager in charge of Bono, Bono East & Ahafo Regions.

The tireless effort of Business and Financial Times correspondent Edward Adjei Frimpong in promoting the growth and development of the tourism industry, through his write-ups has been acknowledged by the industry regulator, Ghana Tourism Authority (GTA).

The GTA has crowned him [Edward] as the 2019 Best Tourism Journalist in Bono, Bono East and Ahafo Regions. He received a citation and plaque, signifying certificate of excellence in his reportages.

This is the third time in the last six years that he has been awarded by the industry regulator. In 2014 and 2016, the B&FT correspondent was adjudged ‘Best Tourism Journalist’ in the erstwhile Brong-Ahafo Region for his outstanding performance.

A citation presented to him reads: “Your appearance on the media scene has extensively offered a platform for the tourism industry in Bono, Bono East and Ahafo Regions. The profundity of your content analysis and statistical promotions make your print media exceptional in the country. The Ghana Tourism Authority recognizes and appreciates your contribution towards the creation of awareness of tourism potentials, challenges and prospects of the regions and beyond. For this, we confer on you Tourism Journalist of the Year 2019.”

Presenting the award, Acting GTA Manager in charge of Bono, Bono East and Ahafo Regions, Joseph Appiagyei, said the 2019 Tourism Awards should have been organised on March 20, 2020, but due to the outbreak of COVID-19 pandemic, the event was suspended, adding “in respect of the safety protocols, authorities have resolved to hand over the awards to the deserving individuals and organizations privately to avoid congregating under one roof.”

He congratulated the winners for their hard work, perseverance and contribution to tourism development in the regions and the country at large.

“The essence of tourism awards is to stimulate competitiveness in the tourism industry among practitioners, thereby ensuring that high operational standards are observed as required by the Authority. Even though the 2019 awards deviated from the original norm, this does not negate the importance of maintaining the quality operational standard in the industry,” he said.

Commenting on the impact of COVID-19 on the industry, Mr. Appiagyei urged hospitality operators to be innovative and adapt to the new normal to stay afloat. “There is a complete paradigm shift as far as the way of doing things are concerned. Zoom conferences and meetings are the order of the day and you need highly educated staff to adapt to the changing trend as a result of the COVID-19 pandemic.”

Award winners

In all, 20 organizations and individuals in the regions were awarded by GTA for the year under consideration. Eusbett Hotel, Sunyani won the Best 3-Star facility, Royale Unity Hotel-Berekum took the 2-Star category while Zeniel Oasis Hotel-Goaso was acknowledged as Best 1-Star Hotel. Best budget, guest house and hostel categories were awarded to Micas Executive Lodge-Techiman, Pokuaa Gust House-Dormaa-Ahenkro and Presbytery Hostel-Sunyani respectively.

The rest are:

African Origin Travel & Tour, Sunyani-Travel Agency of the Year.
Isaac Sarkodie (Boabeng Fiema Monkey Sanctuary-Site guide of the Year.
Kintampo Waterfalls-Visitor Attraction of the Year.
Wooden Tower Restaurant, Kenyasi-Restaurant of the Year (International)
Mandela Restaurant, Sunyani-Restaurant of the Year (Indigenous)
Paradise Drinking Spot, Sunyani-Drinking BAR of the Year.
Edward Adjei Frimpong (B&FT)-Tourism Writer of the Year.
Obaatampa Chop Bar, Dormaa Ahenkro-Traditional Caterer of the Year.
Villakan Hotel, Techiman-Consistent Payment of tourism Levy (accommodation)
Jakosa Gardens Restaurant, Sunyani- Consistent Payment of Tourism Levy (Catering)
Ghana Television (GTV)-Tourism Oriented Media
Emmanuel Dattey, CEO of Royale Unity Lodge, Berekum-Honorary
Joseph Adom, Sunyani-Honorary
Afena Oti Godson, Director-Encom Hotel, Techiman-Honorary

Why ‘The Communication Masterclass’ is to be regarded as a Continuing Professional Development (CPD) programme

October 5, 2020

josephine adzo — Why ‘The Communication Masterclass’ is to be regarded as a Continuing Professional Development (CPD) programme

Communication is at the heart of every organization; hence, it requires tact and professionalism. A puny slip is enough to bring the strongholds of an organization tumbling. The Communication Masterclass (an online platform founded and hosted by Mawuli Fui Kwadzovia (an experienced Communications practitioner with 10 years of experience) to share knowledge about PR/Communication and become a thought leader is a requisite in time.

The programme is an important intervention especially in the face of the current COVID-19 crisis where the communicator is under immense pressure to manage information effectively. It matters how information is handled and served, to allay fears and give insights to various stakeholders at a given time. The Communication Masterclass addresses the needs of both aspiring and practicing communication professionals, and could be best described as a CPD because that is the purpose it serves.

The Communication Masterclass (TCMC) marries theory and practice by providing education beyond just classroom knowledge. For someone like me who has been in the public relations field for just a few years, this platform helps me to understand the nuances of Public Relations and Communication, as well as what to expect as I journey in this field.

Beyond this, TCMC features astute professionals who are able to dissect practical issues to the understanding of even the toddler in this field. One of the best parts of this programme is that, it hosts professionals beyond the borders of Ghana so one is able to get some omniscient view of what the practice is in other parts of the world. The live comments/questions also help viewers to interact with the facilitators, thus, ensuring that the viewers get prompt responses to any hazy concepts they may have.

The Communication Masterclass is also a good platform to forge ties with like-minded professionals and get some form of mentorship from them. It is crucial for every individual to have mentor(s) who will provide guidance in an aspect of life.

Professionally, the TCMC offers a good opportunity for participants to reach out to professionals practicing both locally and internationally. This will expand the participant’s professional network and increase one’s chance of getting better opportunities. It breaks the geographical barrier and will seek to create a formidable alliance of top-notch communication practitioners while exposing aspiring ones to greater opportunities.

For some of us, this is also a good platform to hone our skills as professional practitioners and improve on our current skills, so that one day we can also be featured and share our experiences with others.

The Communication Masterclass also features topical issues and provides different perspectives on these matters. This helps to create some synergy in information disseminated in organizations, and creates a unified voice from the professionals. Not only does it help to get different views but also boosts the reputation of the communications practitioner as he or she will be seen to be on top of issues. One of the purposes of CPDs is to help the participant to be updated with modern trends, practices; this platform by Mawuli Fui Kwadzovia directly serves this purpose.

Beyond being a CPD, TCMC provides information on alternative forms of training one could explore towards capacity building. A good example is the feature of Mawuko Afadzinu, (President – Institute of Public Relations (IPR) Ghana) and Shirley Tony Kum (Honorary Secretary, IPR Ghana).

The Institute of Public Relations is the only professional body in Ghana for Public Relations professionals. An opportunity is therefore created to directly engage these executives for further discussions on being an accredited member of the Institute. Other notable guests to interact with in this regard include Moliehi Molekoa (MD Magna Carta), Thabisile Phumo (Past President of the Public Relations Institution of Southern Africa) and Praise Nutakor (Head of Communications, UNDP Ghana).

The Communication Masterclass is a boost to the career of communication professionals; for those in practice and aspiring ones. It is the necessary thrust forward in one’s career as it augments the already existing knowledge and experience of participants while providing different refreshing outlook on issues.

It is only expedient for anyone interested in this career path to follow this programme, by following The Communication Masterclass pages on social media (Facebook, Twitter and LinkedIn) for updates on upcoming sessions. Communication is an art and only practiced effectively by those who have their games up.

>>>[email protected]

Veteran female gospel minstrels deliver spirit-filled ministration at Women In Worship 2020

October 4, 2020

The honouring & timeless experience of Women In Worship themed Alpha and Omega came off recently at the UPSA Auditorium, Accra with over 500 patrons gracing the occasion. The night of unforgettable experience begun with a jolly ride of all performing minstrels from hotel to the venue with customized number plate.

At their arrival, a beautifully built red carpet was in session to host the legends and other invited guests such as Apostle BB Fredrick, Rev Bernard Adams, Rev Jane Mensah, Cindy Thompson, Becky Bonney, Joe Mettle, Akesse Brempong, Empress Gifty, Akuma Mama Zimbi, Counsellor Luttereodt and many other notable dignitaries.

A worship night described by many as a spirit-filled encounter with God and the most attended gospel event witnessed 11 legends on stage ministering back to back hit songs inspired by the Holy Spirit and transforming lives, restoring hope and directing the path of patrons to Christ through music.

The legendary list consisting of Bernice Office, Abaawa Connie, Rev Esther Nyamekye, Show Stopper Helena Rhabbles, Amy Newman, Stella Aba Seal, Hannah Marfo, Mary Ghansah, Diana Hopeson, Tiwaa of Yaw Sarpong Fame and the evergreen duo Tagoe Sisters, the night of non-stop worship and praise was supper awesome, engaging, entertaining and not forgetting the revival of the Holy Ghost it came with, as patrons received financial breakthrough, healing and God’s divine blessings.

The show earlier saw the glorious 40th birthday celebration of the CEO of Genet Services and the curator of Women In Worship, Georgina Emmanuella Nettey.

Pepsodent storms malls, high traffic zones to showcase its refreshed new pack

October 4, 2020

The new Pepsodent pack captured the attention of a section of Ghanaians when a stunt team from Pepsodent showcased the new refreshed Pepsodent packs in life-sized form. The stunt aimed at helping Ghanaians familiarize themselves with the refreshed Pepsodent pack

The refreshed pack for its cavity fighter toothpaste features a red bold smile symbol beneath the name of the trusted oral care brand, Pepsodent, and maintains the same great formulation and offers full cavity protection.

The live size Pepsodent packs, including catchy hashtags #BrushDayandNight and #EverySmileMatters were showcased at the Accra Mall, AnC Mall, the East Legon Tunnel Intersection and Kawukudi traffic intersection.

Pepsodent is keen on providing Ghanaians with a toothpaste that fights cavities and believes that good oral health makes people confident and enhances their physical appearance.

Photo: A skater showcasing the new Pepsodent pack

Commenting on the refreshed pack and the stunts, Joel Boateng, Category Manager, Unilever Ghana, said: “As Ghana’s favourite oral care brand, Pepsodent toothpaste will continue providing maximum cavity protection to help fight and avoid tooth decay caused by cavities, even faster.” Indeed, nothing should get in the way of smiling – especially not poor oral health.

As such, the need to brush twice a day with a toothpaste that fights against cavities, and works twice as hard in repairing tiny invisible holes even hours after brushing is key. And Pepsodent is that toothpaste for many Ghanaians.

During the stunt, a cross-section of Ghanaians who received free tubes of the refreshed Pepsodent packs were thrilled by the company’s generosity and promised to brush day and night to maintain good oral health.

Absa Bank drives interest in NSMQ with ‘Story Problem Challenge’ initiative

October 4, 2020

Absa Bank Ghana, as part of its commitment and sponsorship to support the National Science & Maths Quiz (NSMQ), has in collaboration with Primetime Limited launched the ‘Story Problem Challenge’ to engage and reward admirers of the national competition.

The initiative is to stir up memories of simple but interesting science and mathematics concepts taught in school and relate them to everyday life. The Story Problem Challenge will run on Absa Bank Ghana social media pages and the general public will have the opportunity to win random prizes for themselves as well as a set of science apparatus for their alma mater.

Simple questions will be posted on the bank’s social media pages on Mondays, Wednesdays & Fridays between now and the end of the NSMQ2020. To participate, just respond with the answer to question and add the hashtags #NSMQWithAbsa and #your school’s official nickname. The school with the highest correct answers at the end of the challenge wins a prize at this year’s National Science & Maths Quiz finals!

Speaking on the initiative, Cyril Nai, Head of Marketing and Communications at Absa Bank Ghana said this is to create excitement and boost the interest of the general public in the National Science & Maths Quiz as well as promote science and maths among young people

“Science and mathematics are essential to our daily lives and we want to help demystify them through the Absa NSMQ Story Problem Challenge, which will focus on the application of these subject areas in everyday activities we undertook,” Mr. Nai noted.

“Digitisation and artificial intelligence are critical to our national development in this fourth industrial revolution era and as key partners in national development, we are excited to support science education as well as help shape the future of Ghana through our partnership with Primetime Limited.”

Absa Bank Ghana has agreed on a 3-year major sponsorship package for NSMQ organised by Primetime Limited in partnership with the Ghana Education Service. The investment makes Absa Bank the lead sponsor in key aspects of the competition including the Money Zone, Sci-Tech Fair, Mentoring Session and Regional Championships among others.

Women at all life’s stages can be flawless – Colorbox Cosmetics CEO

October 4, 2020

After observing women struggle with applying makeup in a way that enhances their beauty, Stephanie Adu, founder of Colorbox Cosmetics, was inspired to create an easy to use beauty tool range, poised to help women at all performance levels and at all life stages apply makeup flawlessly with ease.

Last month, the melanin-focused brand gathered virtually, with women at all stages in life from Ghana and Nigeria, to launch The Colorbox Evolution range.

The product line proudly features interactive colour-coded makeup brushes, makeup accessories, a two-in-one lash and line and their award-winning product Melanin Glow – a loose pigment highlighter with an inclusive shade range.

The multi-faceted launch experience featured Ghanaian media personality Vanessa Gyan, who talked about motherhood and the importance of moms taking time for themselves. “Makeup application is a sacred regiment and should be a ‘You-Time’. We do so much as mothers, we have to make time for ourselves,” said Vanessa Gyan.

Representing for Nigeria was founder of the MakeUp Fair Series, Omolola Faleye, who spoke about the importance of cross border collaborations between the Ghanaian and Nigerian beauty industries. The two CEOs not only highlighted the need for partnership, they put their thoughts into action by teaming up for the MakeUp Fair Series in Lagos starting, which happened on 25th September.

The pre-launch event was energized with award-winning makeup artists, young Ghanaian lifestyle influencers and a sultry performance by Yaa Yaa. The songstress also talked about her journey with her own beauty and the significance in women learning how to apply makeup for themselves.

“We are truly a brand that grows with you. This is not just about the product, it’s about women evolving their makeup process into one that is fun, empowering and simple. We want women to grow at all levels in their artistry and have access to affordable high-quality beauty products,” shared Stephanie Adu.

The bigger picture

With a rising middle class, by 2050 Africa’s population is expected to hit 2.4 billion providing a significant market for beauty brands to serve. In 2017, the African beauty industry was estimated at US$9.2 billion and has since shown an 8%-10% increase per year.

Beauty brands like Colorbox Cosmetics are championing the opportunity to provide product solutions for an underserved target audience- African women.

“We are not exclusive and that is our unique selling point,” shared Stephanie Adu- Mudikongo. The brand targets women from young gen-Zers to mothers and seasoned women. Colorbox Cosmetics has defined a niche which focuses on performance levels, increasing access for women despite their makeup application skill levels.

All Colorbox Evolution products will soon be available in Nigeria through stockists in Lagos and Abuja found on colorboxcosmetics.com. The brand will expand to Nigeria and Kenya in 2021.

Empowering women by simplifying the process

The main feature of the new launch is the ColorBox Evolution Brush System. Colorbox Evolution Makeup brushes are available individually but can be coordinated into a set depending on the customer’s needs. The colors on each brush handle indicate the function of the brush, which supports customers with coordination and applying their makeup.

The brushes are categorized in the following way:

Black handles designated for the face
Pink handles made for eye application
Purple handles are for pro blending and application

Colorbox Evolution also includes makeup accessories that promote organisation and brush hygiene. The new Colorbox Evolution products are designed with durability and value in mind. Each brush is made with Grade A duo-fiber synthetic hairs, which makes it easier to clean and long-lasting.

“We’re excited to see beauty brands like Colorbox release products with African women in mind. The Beauty industry in Ghana needs more innovation,” shared CEO of Make Up Ghana – Rebecca Donkor, known for building and developing Ghana’s beauty industry.

Colorbox Cosmetics is an affordable luxury beauty brand founded and led by Stephanie Adu and was born out of her bold obsessive desire to create a brand where women from diverse backgrounds could access and afford superior quality products. Colorbox Cosmetics has been trading since 2014 in Ghana and will expand throughout Africa starting in 2021. The brand serves to help continue to change the narrative of what quality looks like when linked with and/or coming from Africa.

Theodore Dzeble thoughts: On the campaign trail…

October 4, 2020

“I recall the heydays of domestication when GCPP’s Dan Lartey provided the aperitif of sound bites and confusing concepts that gleefully went around the family dinner table before bedtime. The concepts were not as bad as their heinous, stuttering articulation. The incoherence was so edifying we cried for more!”

It’s still not clear who will win the 2020 elections. It is difficult to objectively predict the winner because the NPP and the NDC (forget about the rest) fundamentally have equal support base nationwide, but no one knows which one of them can electrify their support base in order to churn out the votes in drones.

Besides, fear of the coronavirus is a major inhibition against conducting an objective and reliable survey on the possible outcome of the 2020 elections. Apart from one or two largely unscientific, partisan projections, we all seem to be caught up in guessing the winner, with only a couple of months to go.

Campaign activity itself has been unnaturally hushed up, unattractive in specific terms, and less and less exciting in the main. The drums which used to send everything into a magnificent roar are only now beginning to find their voice, while the dancing troupes appear to be returning to the streets slowly. Thanks to COVID, it is no longer attractive to hire partisan crowds even for the magical purpose of mesmerizing opponents these days!

But I have been supremely worried about the lack of political humour or excitement on the campaign trail. Everyone appears to be either too serious, too hungry or too complacent to vivify the electorate with humor as has been the norm in the past. The messages are rather terse, predictable, and pedantic. Most of the speakers are rigid, unexciting, stomach led, clearly unnationalistic, and anything but persuasive.

Quite apart from comical Akua Donkor, whose sound bites against President Mahama the other day sent me into a fit of laughter, no one else has really electrified the campaign trail or supplied any sumptuous delicacy for dinner yet. Everywhere you turn, the same old familiar faces stir at you, brandishing fat cheeks of affluence, or pale faces of hunger and anger!

Same old voices, same old antagonism, same old complaints, same old phrases, everything stirs at you in unedifying terms you can hardly breathe! Our hope is old!

I recall the heydays of domestication when GCPP’s Dan Lartey provided the aperitif of sound bites and confusing concepts that gleefully went around the family dinner table before bedtime. The concepts were not as bad as their heinous, stuttering articulation. Their incoherence was so edifying, we cried for more! Say whatever you like about Uncle Dan, but the late GCPP leader was an original theorist, who served us with memorable family delicacies every campaign season.

Whereas Nana’s “Fellow Ghanaians” campaign messages continue to enjoy the advantage of multiple free air time and wide reach at prime time, John Mahama, making a comeback as the first former President of the Fourth Republic to seek re-election, enjoys no such advantages or privileges, and understandably spends a chunk of his campaign effort moaning about the deviations and infidelities of the EC.

Perhaps, GBC should consider affording former President Mahama similar primetime advantages now that it is quite obvious Nana’s serial addresses are strategic campaign messages meant to showcase his fabulous achievements and advantage his re-election bid.

Both campaigns have failed to spark any mass enthusiasm so far, let alone eased electoral tensions. The coming days will be significant, how message strategists conduct their campaigns heretofore!

Throwback: Are you a Writer? Do You Have New Year Resolutions?

October 4, 2020

It’s the start of the 10^th month of 2020. It’s been one hell of a year but we’ve made it this far. This time to take another look at your writing resolutions that the beginning of the year. Here’s a reminder of what I said when we started this year.

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In recent times, skeptics and killjoys have argued that resolutions do not work. I disagree with them. Resolutions, not just the ones made in the new year, certainly work. What is important in accomplishing your plans is to adopt the right approach in working on them.

According to the writer, Sonia Simone, “Most people fail at resolutions (at any time of year) for two reasons. The first is that they focus on outcomes (lose 50 pounds) rather than behaviours. The second is that they try to put massive changes into place all at once (I will work out three hours a day, even though today I work out 0 minutes a day)”.

For writers, the above applies. Just like everyone else, if you want to become a better writer, so you can reap all those awesome benefits of being a strategic, authoritative content creator, you’re not going to get there by resolving to “be a better writer” this year.

To help you make better resolutions for me, I looked to one of my role models for help. Jeff Goins is the best-selling author of five books, including the national bestsellers The Art of Work and Real Artists Don’t Starve. He makes this list of 17 resolutions every writer should make. I find them instructive and really helpful. I hope you do so too.

Measure activity, not results. As a writer, your job is to share your truth, not worry about the outcome of your work. The first goal of a writer is to sit down and do the work, no matter how scary or hard it may be. When you do this, you almost always create something better and more honest than worrying about “what will people think?” So, write what moves you and leave the results to the readers.
Tell the truth. No matter what, regardless of what is at stake, we must create something that is true, both to us and to the world. That means not only to be honest but to true to oneself. If something feels wrong, don’t do it. Your gut is the only thing that separates you from a robot. Try to trust it and be wary of the quick and easy route that leads to success (it doesn’t).
Write what scares you. There is something powerful about leaning into fear and doing the thing that petrifies you. Nothing stirs the emotions of a reader like writing “from the heart,” as they say. Don’t hold back now. This is the year where you show all your scars, and maybe people will thank you for it. Regardless, you will be sharing your truth and that is enough.
Don’t take yourself so seriously. I am guilty of this myself, but the truth is some of the best writing in history has a sense of humour. There’s nothing wrong with making the reader laugh. If all you’re writing is the facts, then you’re a reporter, not a writer. Which is fine, unless you want to create something that tests the boundaries of the status quo, something that goes beyond “just the facts.” In which case, you had better be funny.
Try a new genre. Are you a business advice writer? Try memoir. A novelist? Consider journalism. Whatever you are comfortable with will ultimately cause what you create to stagnate, unless you infuse it with some novelty. Honour your calling as a creative and test the boundaries a little. Push yourself and see how you grow. As for me, I’m trying my hand at fiction.
Write when you don’t feel like it. Professional writers don’t just write when inspiration strikes them. They offer themselves no excuses and do the work, no matter what. You need to do the same. Show up every day, without fail, as often as you can. When you don’t feel like it, do it anyway. This is how you will develop the discipline that turns you from an amateur into a pro. If you do this, you’ll do what so few are able to do. You will turn your passion into a habit.
Do your research. It’s not enough to just “write what you know.” You have to expand what you know. Read a book or two, for crying out loud. Don’t merely pontificate. Tell us something we haven’t heard before, something we won’t hear unless you take some time to ask important questions like “why?” and “how?”
Rewrite until it hurts. Let’s face it. Nobody is brilliant on the first draft. And the second one after that usually sucks, too. This is okay — it’s normal, even — because this is a marathon, not a sprint. Don’t consider yourself done until you’ve put in at least several hours and a few drafts into whatever piece you’re working on. Remember: all good writing is rewriting. Everything else is just prologue.
Shut up. Take some time and listen — to what people are saying, to what you’re reading, and to what you’re writing. It’s all trying to teach you something. Pay attention, shut that big mouth of yours, and open your ears once in a while. Learn from your surroundings, then use it all to make your writing better.
Read widely. This isn’t just research, it’s practice — honing your craft by studying the masters who came before you. Pick a book that didn’t just pop up on your Amazon list; read a classic or something that has nothing to do with your field. We base our careers on words, so the best thing you can do is absorb as many of them as possible from as many different sources as you can.
Fast from social media. Get off Twitter or Instagram and spend a few hours a week writing. Not your platform or your growing contingent of Internet followers, but the thing that really matters: the writing. No one will thank you for this, which is precisely why it’s important. You will feel better, and the work will improve (promise). So, take a brief break — at least a week — from the noise and focus just on the work.
Break a rule. Write in an unusual voice or depart from a norm. Stop using commas. Get rid of all adverbs. Do something that causes others, maybe even yourself, to feel uncomfortable. Don’t worry; this isn’t a new style — it’s just an experiment. In the discomfort, we grow. So, mess with the status quo, and see what happens. It could be good, really good. Or maybe not. Regardless, you’ll learn something.
Publish something. An eBook, a manifesto, a full-length book. If you’ve never put your work out into the world in the form of a published book, it’s time. Nothing grows a writer like shipping. Yes, it’s hard and scary and you probably aren’t ready. But do it anyway. Enough with the works in progress and plans to publish “someday.” It’s time. You’ve got this.
Make money. You heard me. Set a goal to actually earn some income from your writing this year. I remember the first year I set this goal — it changed my life. Our son was born, and seven months later, I was making plans to quit my job and become a full-time writer. Amazing things happen when you set a goal, chart a course, and stick to it.
Start a blog. Blogging is an essential craft for the modern writer. It helps you practice in public, get discovered, and build your fanbase. It’s fun, too. For a step-by-step tutorial on how to get a blog started, read my “how to launch a blog” page.
Meet other writers. You can’t succeed alone. We all need the help of others who are in the trenches with us. Set a goal to grab coffee with another writer at least once a month. If there are no other writers in your town, then hop on Skype and talk online. Don’t try to go this alone; the writing journey is a long and lonely one unless you have friends to share it with. For more on this, you can read my post on networking.
Quit stalling and get writing! Quit reading this post or re-checking your email for the fifth time today. Turn your phone to silent and unplug from the world for an hour. Just write. It’s the simplest, hardest, scariest thing for a writer to do. Not to think about writing or talk about writing, but to actually write.

Of course, resolutions aren’t what make a year new. They’re a formality. The real trick is not setting the goal but having the resolve to do it. Once you start moving in a direction, you don’t have just a plan or a goal. You have a habit. And that changes everything.

I wish you all the best in 2020. Have a great writing year. It can only get better. We can only get better.

Elikem M. Aflakpui

[email protected]

Caroline Esinam Adzogble secures partnership with top international medical university

October 4, 2020

International University Services (IUS), a subsidiary of the Caroline Group, under the leadership of the 28-year old educationist Caroline Esinam Adzogble, has secured a major partnership with St. George’s University, Grenada in the Caribbean region which would allow Ghanaian students to pursue four to seven years’ medical degree programmes in Grenada with an easy visa process.

Mr. Adzogble, mostly noted as the face of education in Africa has grown to become a foremost international educationist advising organization with excellent support strategies for students, international schools as well as other educational stakeholders, thus, drawing partnerships from world-class institutions across the globe.

“The American residency permit students to receive at the end of their programme is the biggest takeaway for me. I am looking forward to diving into this opportunity with various families, other education consultants, high schools, universities, the Ministry of Education and scholarship boards in Ghana to see how best we can push this forward for Ghanaian students,” she said.

“Obviously I work with so many great brands across the globe with each partner bringing something unique to the table but this partnership is very personal to me considering you all know how I had to give up on my medical doctor dreams which worked out very well in the end because now I am in the position to open these many great doors for students across 146 countries,” she added.

Some highlights of St. George’s University;

George’s University located in the Caribbean’s, Grenada is the largest international provider of new doctors in the USA for the last 11 years combined, and its graduates have practiced in all 20 Top Hospitals in the USA, according to US News & World Report 2018-2019.
George’s University has been providing the world with highly trained doctors for more than 40 years and has an extensive international network of over 18,000 MD alumni of which 25 have Ghana citizenship.
SGU graduates have been licensed in all 50 US states and Canada and have practiced in more than 50 countries of the world and have 18 Ghana citizens who have secured post-graduate positions in the US.
SGU has a large network of 70+ affiliated hospitals and health centers in the USA and in the UK, and therefore all eligible students complete their clinical rotations in these two countries.

My Prostate Cancer education journey

October 4, 2020

Many were the doubting Thomases when I started my prostate cancer campaign. This is due to the fact that they practically have no knowledge about my background as a Naturopathic doctor. Besides, it is rare for such practitioners to have such knowledge on the disease due to the perception in the field, but time has practically changed!

I developed much interest in prostate cancer in black men in my Master’s programme in Prostate Cancer introduced by Sheffield Hallam University, UK and Prostate Cancer UK, in 2013. It is the very first-ever programme in prostate cancer at the Master’s level globally for health professionals.

Then, the Master’s module programme was standalone to train healthcare workers who have an interest in men’s health as prostate cancer specialist, advocates and policy drivers in their various countries. It was in this programme I realized the devastating effect of prostate cancer in black men and why they are more prone to the disease.

Some countries have developed some policies to help address this deadly disease with quality of life care programmes. I further developed an interest in complementary holistic medicine in this programme when we were introduced to the use of complementary medicines and the role they play in improving the quality of life of cancer patients. Seven years down the line, I have done much in the fight against prostate cancer with breakthrough Men’s Formula product for Prostate Health and wellness and finally out doored this huge close to 900-page book on prostate health.

During my research, I likened Prostate cancer in black men to some supervillains in a fictitious book. Hence, Prostate cancer strikes a special chord with me, why? It is a very aggressive cancer in black men, in part because it’s discovered at very late stages when it’s highly advanced and appears as if there is nothing to be done to cure it.

There is also another headache for black men: after conventional treatment, this cancer comes back for 75 percent of black patients. And this time, it usually comes back in a drug-resistant form. High-grade prostate cancer appears as one of the biggest supervillains out there in comic books. You see, as a researcher, I usually don’t get to work with patients.

But I recently met a man who is trying to survive prostate cancer. I was deeply inspired by the optimism and strength that both Dad and son displayed and by their story of courage and support. At this event, we spoke about the different technologies directed at prostate cancer aside in conventional treatment. And he was in tears as he explained how learning about these efforts gives him hope for future generations, including his son.

This really touched me. It’s not just about building really well-designed knowledge or making monies using dubious means from the so many frustrated black patients afflicted by prostate cancer. It is also not about the so many local and international awards I received day by day or the so many scientific articles I write daily in the newspapers or publications in the peer review journals for academic recognitions.

Along the line, I also realized that most of these publications in the peer review journals or the scientific articles in the newspapers were also not read or accessed by the ordinary man on the street! Even those in academia who called me on these articles were looking for strategies to fight prostate cancer.

So I realized that the needs of the people were very far from what I have been doing! It’s about changing people’s lives. It’s about understanding the power of integrative medicine at the expense of relying solely on one treatment modality. I realized that this very aggressive prostate cancer in black men has a kind of supervillains in the comic books I read; prostate cancer in black men is cunning, flexible, and very good at not dying.

And, like most supervillains these days, their superpowers come from diverse angles and we need to stop it before it strikes. Interestingly enough, as human beings, we rather take our source of motivations and inspirations from these supervillains with superpowers who knew nothing about how the mortal being behaves when afflicted with pains or deadly disease such as prostate cancer.

Prostate health is crucially important to all men, so I hope all female readers will share this information with the men in their lives. Thankfully, there are simple, effective strategies men can employ that may significantly reduce their chances of having to face prostate problems such as enlarged prostate or prostate cancer, and in this book, I discuss those strategies based on evidence.

Prostate Cancer is often misunderstood by even the most respected medical professionals in the world. This is because some even believed that people get cancer like the same way they would catch a cold or bacterial infection. But in reality, every cell has the ability to be cancerous, and a variety of factors can prompt a cell to do so. And while most Oncologists (and even leading cancer associations) consider cancer a genetic disease, I realized that this is not entirely true.

Prostate Cancer, therefore, occurs when genes within a cell lose their ability to regulate that cell’s growth. These disobedient cells don’t know how to stop multiplying or die. But all cells have the potential to lose this ability, meaning any cell can cancer at any time, depending on the environment it finds itself! I know people may be wondering and asking if Prostate cancer is unavoidable? No. The choice to die without disease is ours to make, right now. But trying to live my entire life cancer-free seems like a pretty formidable goal that I have embarked on as a young man based on my researches.

Every person has cancer cells in the body. These cancer cells do not show up in the standard tests until they have multiplied to a few billion. When doctors tell cancer patients that there are no more cancer cells in their bodies after treatment, it just means the tests are unable to detect the cancer cells because they have not reached the visible size. I got talking with lots of men who know prostate cancer up close and personal.

I was struck by the profound impact the diagnosis had had on their view of life. I felt sad when a Medical Doctor I had worked with before was struck down with prostate enlargement, his story of how prostate trouble has left him helpless worried me! I know he has been battling with the prostate condition for some time now. In fact, he has been a good father to me and had always encouraged me with my research into natural remedies.

Finally, when I found a breakthrough for men with my new formula, I had to call him, he told me a very pathetic story! He went in for biopsy which proved benign though, but his own colleague Medical Doctor did not pay much attention to his condition and later had to suffer the consequences of post-biopsy side effects. After the biopsy, he went home and unable to pass urine and was rushed to a nearby medical facility. In fact, the pressure was too much that, he had to pass the catheter himself and lo and behold, the blood clot that came out, Only God saved him. The rest is history!

So the question is, why do men not pay much attention to this prostate gland but later try to regain it after they had lost it? My encounter with men with prostate conditions always leave me wondering as a young man! You see, even if they didn’t need significant ongoing treatment and now had a good long term prognosis, they said the experience had jolted things into perspective.

Day after day, I heard men talk about making the most of precious time, having more fun, building memories with their families, and doing the things they had always wanted to do. They spoke about the satisfaction they felt from doing things, big and small, which made them and their families proud. They recognized how priceless good health is, and simply couldn’t understand how men would let ignorance, apathy or fear of a simple test or of treatment, get in the way of looking after their health – even though several of them admitted they had done exactly that before they were diagnosed.

According to Angela Culhane of Prostate Cancer UK “The very clear message coming from them to other men was not to stick your head in the sand in a misguided attempt to ignore prostate cancer, but to get informed about it for yourself and to join the fight to beat it for everybody”. I’m passing that message on and I hope others will too. It’s a lifesaver. Let alone what it does! You see, Size definitely isn’t everything where the prostate is concerned.

This little gland, hidden from sight just below the bladder, is only about the size of a walnut. But when it goes rogue, a man’s life can be over. You see, black men wouldn’t ignore their prostate if they knew the important role it plays if in good health or what it could cost them if it goes wayward.

The simple question is why do they neglect it? Probably, it is because the gland is invisible and out of sight is out of mind as they say! Maybe, black men don’t want to think about any problem below the belt. Others also still don’t believe prostate cancer is a real problem and it is evident as policymakers also neglect it and focus on breast cancer awareness and education because prostate cancer doesn’t hit the headlines like breast cancer.

Breast cancer gets the needed attention, awareness, education and political support. Maybe, because is a superficial organ and could be seen, felt and men compete with their children for the breast for pleasure! I believe that, if women also know what they stand to get from their men’s prostate if, in good health, they would obviously fight for their men’s prostate health as well.

Interestingly, policymakers and medical people also perhaps believe the myth that holds that prostate cancer is a disease that men die with and not from. Well, ask the families of some men who die of it every year and they’ll be quick to tell you another story; that prostate cancer doesn’t go away if you stick your head in the sand; that it’s a silent assassin which all too often takes men out in their prime; that it leaves their plans for retirement in tatters and their families grieving.

The small gland prostate, though, not vital for life, the prostate is vital for reproduction. The Prostate is not our ‘enemy’ as black men! It is our friend, and not a taboo to have it with you. In Ghana, many men aren’t sure what their prostate is, what it does, and ultimately why they get prostate conditions!

The prostate is the priciest assets every man could have if it is in good health, just as the breast in women. But if it goes wayward, then, a man’s’ life could be in danger! It is pronounced ‘Prostate’ and NOT ‘Prostrate’. Interestingly enough, some medics also make this mistake in the pronunciation. It is really a small gland but has enormous contributions to the man’s survival. It is a small gland that is part of the male reproductive system. It’s supposed to be about the shape and size of a walnut. It rests below your bladder and in front of your rectum. It surrounds part of the urethra, the tube in the penis that carries pee (urine) from your bladder.

The seminal vesicles are rabbit-eared structures that sit on top of the prostate and store and secrete a large portion of the ejaculate. The neurovascular bundle is a collection of nerves and vessels that run along each side of the prostate and helps to control erectile function. This also provides the basis for sexual challenges after prostate surgery as some of the nerves could be affected.

In some men, these nerves run a short distance away from the prostate, but in others, they attach to the prostate itself. Their precise location doesn’t impact prostate function or contribute to prostate cancer when it occurs. The bladder is like a balloon that gets larger as it fills with urine.

The urethra, a narrow tube that connects to the bladder, runs through the middle of the prostate and along the length of the penis, carrying both urine and semen out of the body. It is the hose that drains the bladder. The rectum, which sits right behind the prostate, is the lower end of your intestines and connects to the anus. It has so many functions: The prostate helps make some of the fluid in semen, which carries sperm from the testicles we ejaculate as men.

As we age, our prostate can become larger. It’s a normal part of ageing for most men. So it means that, right from birth, we have the prostate gland. It is God’s design for man to have the prostate gland and part of our survival as men. According to WedMed, by the time we reach age 40, our prostate might have gone from the size of a walnut to the size of an apricot. Meaning that, the prostate gland goes through a life cycle and start from puberty age.

It therefore important as men to take real preventative measures in our youthful age and not in our old age when the prostate had already grown to a point it may create a problem for us as men. A growing prostate can also signal cancer Real preventative medicine or measures for our prostate as black men really start in our thirties and not from forties upwards.

This is because, by the time we hit 60, it might be the size of a lemon where it may give us problems. Because it surrounds part of the urethra, the enlarged prostate can squeeze that tube. This causes problems when you try to pee(urinate).

Typically, you won’t see these problems until you’re 50 or older, but they can start earlier even in your thirties but because we don’t pay much attention to this collective symptoms, we neglect it and obviously, ‘out of sight is out of mind’. I know many men have heard of this condition; benign prostatic hyperplasia, or BPH (prostate enlargement) for short. It is not cancerous. Age and a family history of BPH are two things that increase the chances you might get it. A few statistics on that according to WedMed:

Some 8 out of every 10 men eventually develop an enlarged prostate.
About 90% of men over the age of 85 will have BPH.

About 30% of men will find their symptoms bothersome.

This is just what to expect in my latest close to 900-page book on the prostate. The book is out for GH¢500 only. Enquiries call (0241083423/0541234556). It is a well-research book on prostate health. Thank you

The author is a renowned holistic doctor and Vinnytsia State Pedagogical University, Ukraine, honorary professor of holistic and Naturopathic Medicine and currently pursuing, LLB law/MBA concurrently. President of Nyarkotey College of Holistic Medicine & RNG Medicine Research Lab, Tema community 18. He is the formulator of FDA approved Nyarkotey Hibiscus Tea for Cardiovascular Support and wellness, Men’s Formula for Prostate Health and Women’s Formula for wellness. Contact: 0241083423/0541234556

TV3 unveils Mentor contestants on Sunday October 4

October 3, 2020

“Mentor Taking You Higher” is finally here! On Sunday 4th October 2020 at 8 PM, Ghana’s number one television channel, TV3 Network, will unveil the sixteen selected contestants to participate in this year’s season of Ghana’s popular music reality show, Mentor.

Sunday night will commence the journey for the sixteen amateurs to develop their skills and hone their talent in accordance with the show’s vision for them to learn the rudiments of the trade and also own big stages.

This is to be achieved through the mentorship by Ghanaian musicians Edem and Adina, industry veteran, Bessa Simons and Music Producer Appiah Dankwah, popularly known as Appietus, who will serve as the judges for this season.

In addition to the bragging rights, at stake for the ultimate winner for this season is a brand new vehicle, two mastered songs and GHS50,000 worth of airtime across all Media General platforms – radio, television and digital.

The first runner up will receive GHS10,000 cash amount in addition to one mastered song and GHS40,000 worth of airtime across all Media General platforms. The package for the second runner up includes GHS8,000 cash amount, one mastered song and GHS30,000 worth of airtime across all Media General platforms. The third runner up will receive GHC5,000 cash amount, one mastered song and GHC20,000 worth of airtime.

Tune in to TV3 on Sunday 4th October 2020 at 8 PM to know who makes it to the final sixteen contestants!

3Sports Election Debate provides platform for sound ideas on sports

October 3, 2020

IMG-20201001-WA0082 — Photo: Party representatives at the 3Sports Election Debate

Never in the history of this country has there been a forum where representatives of the various political parties converge to talk about their plans for sports development as stipulated in their various manifestos ahead of a major election.

So, when the initiative was pushed by the team at 3Sports, it was welcomed with open arms and from the feedback across fandom and viewers who made time to catch a glimpse, it was a huge success.

The event, held at the McDan Town Park in Labadi, made a serious impact.

Right from the onset, when the policy statements of the parties were spelt out by the representatives, the programme took a new dimension.

All party representatives wanted to make a good account of themselves. Alex Agyekum represented the New Patriotic Party (NPP), Fred Agbenyo was for the National Democratic Congress (NDC), the Progressive People’s Party was represented by Nana Afari Gyamfi while the outgoing National Chairman of the People’s National Convention (PNC), Bernard Monarch, represented his party.

Before it all began, messages were taken from the Youth and Sports Minister, Isaac Asiamah, and the Ghana Football Association President, Kurt Okraku.

The Minister’s work in this term has been very loud.

Sports centres are springing up across the country because of his leadership and he wasted no time to remind everyone of his work.

“The work speaks for itself. I have always said that the best PR you can think of is an achievement. When you achieve a lot, it speaks to you. I am not going to be here and engage in propaganda over achievements.”

The president of the FA, Kurt Okraku, expressed his excitement over the idea to organize a debate on sports.

“I am glad we have the possibility to listen to the two big political parties talking about sports and zooming in to football areas. I think there is the need for more attention for sports in this country,” he said.

Alex Agyekum, who spoke for the ruling party, highlighted the government’s achievements in sports in the country, citing the youth centres across the country.

He also outlined the government’s commitment to youth football as well as other sports.

Agyekum stated that sports depend on the micro-economic stability of the country.

In his words, “once the economy is developed, all other things take advantage of it“.

This received a sharp rebuttal from Fred Agbenyo, the NDC representative, who stated that sports must be taken seriously as it provides revenue to the country in many ways.

Agbenyo mentioned the Cape Coast Stadium, the Bukom Boxing Arena and many other projects undertaken by former president John Mahama as the major achievement during their tenure in office.

Bernard Mornarh provided a different dimension to the quiz.

Short, crisp answers delivered with tact and light-hearted statements. Many of the most memorable quotes from the event came from him.

Top of which was that he ran faster than world record holder Usain Bolt in 1989 but didn’t get the support to move it on from there.

Mornarh believed strongly in a catch-them-young policy of getting athletes – where sportsmen will be identified early on in basic school and then there can be a sound progression of where they are till they get to the top.

He stated that the government’s approach of building infrastructure everywhere is not the way to go as “most of them become white elephants anyway”.

“The major calamity we face as a nation is that we prioritize football as a national sport and every other sport is seen as a village sport. PNC’s policy for sports is the catch-them-young policy to build young talents. Because we fail to catch them young, we think everything is about football,” he said.

On the PPP front, Nana Afari Gyamfi stated that his party’s focus will go a lot into the branding of the athletes and infrastructure.

“We will brand sports to get to international standards so that we can get future Yohan Blakes, Usain Bolts and others. The Sports Fund is a good idea as long as we do not abuse the fund like those in power usually do by using it for other purposes other than sports,” he said.

The moderators, Thierry Nyann and Eva Okyere, gave the opportunity for the debaters to put their points across, make salient additions and improve upon standards.

All in all, it was a good intellectual discourse of ideas. Heated on some parts, but mostly impressing the audience seated there and the thousands who watched from home.

19th Apex and rural bank managers’ annual conference opens today

October 1, 2020

Rural banks — File photo: Leaders of rural banks at a seminar

The ARB Apex Bank together with the General Managers and CEOs of all rural and community banks across the country are holding an annual two-day managers’ conference at the Volta Serene Hotel in Ho which begins today.

This year’s conference which is the nineteenth in the series is on the theme “The Speed of Change.” The conference will bring together general managers and chief executive officers of the rural and community banks to discuss the current happenings and some challenges in the rural banking sector and to proffer solutions to them.

The conference is very important to the industry players because it is a convergence of technical advisors of all RCBs, where they take stock of their strategies and prepare themselves in readiness to surmount the challenges facing the sub-sector of the economy. During the conference, participants are taken through various training modules, which will go a long way to improve upon their service delivery.

It is expected that the organizers of the conference will bring on board a rich pool of consultants who will be taking the managers through carefully selected topics, from the beginning of the programme to the end.

The topics as well as the consultants are always strategically selected to help equip managers with contemporary strategies to effectively tackle emerging issues in the sub-sector.

For the next two days, the managers will be concentrating their energies on treating topics like the Speed of Change; the Human Resource Perspective, the Market Place and Leveraging Strength for Competitive Advantage amongst other topics.

It is also expected that a representative of the Governor of the Central Bank will make a regulatory pronouncement that may seek to collaborate with the Apex Bank to reposition the rural banks for effective operational service delivery.

The participants will be looking forward to an update on the banking industry and make time to look at matters arising from the communique issued in the 2019 conference, held in Sunyani.

Rural and community banks have a key role in making a positive contribution towards the reduction of poverty. They also act as one of the key channels to distribute funds to businesses in their localities and encourage the spread of sound entrepreneurial activity.

It is also believed that rural and community banks can provide an additional channel to deliver essential financial services.

Rural and Community Banks also play a key role in the country’s economic development and ultimately act as a catalyst to stimulate the rural economy by supporting micro and SME businesses based in rural areas.

This initiative can contribute to poverty reduction and help in bridging the gap between urban areas and the rural economy.

Tractafric Motors: Ford Ranger takes top honours

October 1, 2020

The Ford Ranger has received the highest award for quality in the midsize pickup segment in the US; according to the 2020 JD Power Initial Quality Study (IQS) report. The Initial Quality Study, now in its 34th year, is based on responses from 87,282 purchasers and lessees of new 2020 model year vehicles in the US who were surveyed after 90 days of ownership. The study took place from February through to May 2020.

The JD Power Initial Quality Study (IQS) takes an updated look at the problems owners are having with their new vehicles, including those related to new technologies.

The study, redesigned this year, measures components that fail and features that are difficult to use, hard to understand or don’t work the way owners want. Initial quality is determined by the number of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality.

“The Initial Quality Study is the industry benchmark for new-vehicle quality and, year after year, automakers apply the insights they learn from consumers to make positive changes,” said Dave Sargent, vice president of automotive quality at JD Power.

The JD Power awards released the following statistics from its detailed survey, gauging Ford Ranger customer satisfaction in the US across the following areas; exterior styling, driving dynamics and visibility/safety, engine/transmission, and interior design. Rangers for the North American market are assembled at Ford’s Michigan Assembly Plant.

According to JD Power data, 88 percent of Ford Ranger owners in the US agree that they prefer to buy a vehicle from a domestic company – a characteristic also likely to apply to South Africa because of the Ranger’s local assembly at Ford’s Silverton plant in Pretoria, with engines supplied by the Struandale Engine Plant in Port Elizabeth. Approximately 53 percent agree that they’re willing to pay more for a vehicle that is environmentally friendly, and 78 percent are willing to pay more to ensure their vehicle has the latest safety features.

JD Power data shows that 60 percent of Ranger owners strongly agree that they avoid vehicles they think will have high maintenance costs, while 59 percent say reliability is a first consideration when choosing a vehicle.

At the same time, performance and design are important to Ranger owners. The data says 83 percent of them agree that they like a vehicle that stands out from the crowd, and 54 percent strongly agree that they like a vehicle that offers responsive handling and powerful acceleration. Ranger owners are also less likely to agree that to them a vehicle is just a way of getting from place to place.

“The JD Power awards are held in high admiration with extremely competitive vehicles challenging for first prize in the midsize pickup segment. The Ranger’s success in South Africa and numerous markets that we supply around the world reflects the exceptional work done by Ford Motor Company of Southern Africa (FMCSA) in the local manufacture and export of Ranger,” says Kevin Heunis, quality director: Export and Import Operations at FMCSA.

“Not only is the Ranger one of South Africa’s top-selling vehicles, but it is the pickup segment leader in Europe, which is our largest export market,” Heunis adds.

The JD Power IQS Award is the second prestigious award to be given to the Ford Ranger within the space of a few months. In August 2020, the Ford Ranger was announced as the top-selling used car in South Africa, according to AutoTrader’s annual Car Industry Report.

Tractafric Motors

Tractafric Motors Ghana is Ford official representative and Ghana is a key market for both Ford and Tractafric Motors in West Africa. Tractafric offers a wide range of Ford vehicles, which will undoubtedly meet your specific needs. Tractafric deals in sales and maintenance assistance.

Tractafric Motors and Ford have partnered, together, for almost a decade. Both companies began working together in 2010, establishing an entirely new business in Ivory Coast, before expanding to Cameroon, and then the Democratic Republic of Congo. With the expansion of the partnership in Ghana, Ford’s trusted presence in sub-Saharan Africa via Tractafric Motors encompass four countries.

Gov’t projects $14 billion annually from tree crops

September 29, 2020

The establishment of the Tree Crop Development Authourity (TCDA), in line with the government efforts to formalize the tree crop sector, as well as ensuring a reliable price mechanism within the sector and others, is estimated to turn over some $14 billion annually.

According to the President, Nana Addo Dankwa Akufo-Addo, “this is on the assumption that each of the selected Tree Crops can generate $2 billion dollars annually just like cocoa.”

Already, he said, a total of 220,257 farmers have enrolled onto the programme while a total of 235,850 hectares of land have been cultivated with approximately 30 million seedlings developed across the country.

Against this backdrop, the President, who was speaking at the inauguration of the TCDA, was optimistic that the Tree Crops Module, otherwise known as Planting for Export and Rural Development (PERD), will bring about the transformation of the agricultural sector.

He noted that this will be realized through the provision of strong raw material base needed for Ghana’s industrialization push.

The PERD programme one of the five modules of the PFJ campaign. The module was launched in 2019 at Dunkwa-On-Offin with a focus to develop the Tree Crop sector. PERD is a market-oriented rural-based value chain intervention that seeks to increase and widen Ghana’s export portfolio, and accelerate rural development.

He explained among other things that the “over-reliance on cocoa as the only major cash crop was no longer tenable especially in the face of mounting pressure for the expansion of government services and infrastructure.”

Among other things, he observed that the government had to consider new avenues to shore up its revenue to make up for deficits.

“The logical solution was to focus and develop potential export crops with comparative advantage on the international market. The tree crop sector presented numerous opportunities given that Ghana is endowed with examples of high demand crop on the global market. Some of the tree crops like palm oil, rubber and cashew compare favourably with cocoa,” he stated.

The Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto also noted that the high international demand and competitiveness of tree crops in the world market, calls for priority attention for Ghana’s tree crops sector.

He said this is necessary to ensure that the full benefits possible can be realized from the sector to accelerate economic development on a sustainable basis.

In view of this, he said the inauguration of the TCDA constitutes the government’s strategic response and effort to leverage the huge market out there.

Ebenezer Mensah Ashley’s thoughts: Factors affecting private business development in Africa

September 28, 2020

Entrepreneurship, and for that matter, private sector development, has been identified as an effective way of enhancing economic development and growth on the African continent. The private sector is widely acclaimed as the “engine” for economic growth in Africa. It affirms accelerated adaption to capitalist-driven development initiatives among economies on the continent.

In order to walk the foregoing popular economic cliché, governments of various countries on the continent have thought it necessary to encourage citizens, both home and abroad, to take advantage of the investment opportunities available in their respective countries to make valuable contributions to national development and growth while accelerating the pedestal on foreign direct investments (FDIs) by other nationals.

Challenges

In spite of this clarion call, the development of businesses in Africa is saddled with a number of challenges. For instance, policies of governments in many African countries, including Eritrea, Somalia, Libya, South Sudan, Angola, and others, are not private sector friendly. Ever-changing government regulations, use of multiple currencies as witnessed in Zimbabwe in recent years, and protectionist policies render the costs of import high and business opportunities unattractive in some parts of the continent. These unfortunate developments affect the respective countries’ position in the annual Ease of Doing Business rankings instituted by the World Bank Group, and affect foreign investors’ decision to opt for the implied countries as alternative investment destinations to their original economies.

However, it is worth-emphasising the foregoing measures, that is, protectionist policies are intended to provide the requisite protection for fledgeling local manufacturing companies against predatory competitions from their Western and Asian counterparts whose pace of development in the manufacturing sub-sector is unheralded across the globe. Protectionist policies provide the requisite “respite” and “shelter” for investors in nascent companies and industries in developing and emerging economies in the global regions, including Africa.

The absence of scientific market research data makes the assessment of the retail environment, consumer behaviour, and consumer needs pretty difficult. In addition to the preceding factors, businesses in Africa are fraught with technology and communication challenges. With the exception of Mauritius with highly sophisticated technological systems, the other economies in Africa are still grappling with improved and effective technology and communication systems delivery.

This affects the extent of business development and growth in the implied economies. Collection of scientific data for analysis is compounded by the diversity of African markets and consumers. It is important, however, to acknowledge the giant strides made by Ghana, Kenya, and others towards digitization of their respective economies. In Ghana, processing of many documents including business registration and passport applications could be completed online. This has truncated the number of weeks required for processing of applications, to a few days.

The foregoing notwithstanding, improved technology, especially, Internet connectivity and penetration remain a major challenge to the continent. For instance, in 2018, average Internet connectivity in Africa was estimated at 39.6%. This was significantly shy of the global average (62.7%); and within Africa, a significant connectivity lag and disparity were observed during the period – Internet connectivity in Burundi remained at 5.3% while Internet coverage in Kenya was estimated at 89.8%. In 2016, Africa consumed only 1% of all the international Internet bandwidth that was produced globally (Global Business Outlook.Com, 2019).

Even among the middle class in Africa, traditional and informal retail trade dominates the business landscape. About 90% of buying and selling activities in Africa occur among informal retailers such as small and independent stalls, kiosks, and non-organised open-air markets as witnessed in some parts of Accra, Lagos, Abidjan, Lomé, Ouagadougou, Dar es Salaam; and in many parts of other cities in Africa.

In most parts of Africa, development of formal retail commerce such as malls, shopping centres and other organised or defined retail outlets is at its embryotic stage. The limited malls and shopping centres available are mostly concentrated in selected urban areas in Africa. In Ghana, one could readily cite malls, strategically located in some parts of Accra and Kumasi, with shopping centres located in the various regions.

Currently, Africa is witnessing growth in urbanisation. The Organisation for Economic Co-operation and Development (OECD) (2020) noted the projection of Africa to record the fastest urban growth rate across the globe by 2050. Cities in Africa are projected to accommodate additional 950 million people during the period. Small- and medium-sized towns would witness the fastest growth during the period. However, some development experts are of the opinion the growth in urbanisation in Africa is uncontrolled and informal. Underdeveloped infrastructure makes goods and services delivery to most parts of African economies difficult; unreliable road networks and transportation systems affect businesses’ ability to meet deadlines set by clients while political instability adversely impacts foreign direct investments and business continuity.

Inadequate electricity supply has been identified as a major threat to the survival of businesses on the continent. Massive investment in electricity generation capacity and transmission infrastructure remains economically parsimonious in many African countries. Over the past few years, the erratic power supply has affected the activities of businesses in Ghana and Nigeria in particular, and in many other parts of Africa in general. In 2015 alone, about 13,000 businesses in Ghana were negatively affected by the erratic power supply. These business casualties included employee lay-offs and liquidation by some small- and medium-scale businesses. In Nigeria, an average of about 26 power outages is recorded in a month characterised by severe power challenges. Small- and medium-sized businesses which decide to continue with production and service provision are compelled to do so at additional costs to manufacturing and service delivery; these businesses are compelled to purchase alternative power in the forms of generation plants at higher costs. Evidently, power or electricity generation remains a major challenge to Africa. Available statistics revealed that over 600 million people lack access to electricity; and in areas where connectivity is prevalent, supply tends to be erratic. Africa’s total population is estimated at 1.34 billion people. This is about 10.6 times the estimated population of Japan (126.5 million people) (Worldometers, 2020). However, Africa’s total electricity generation capacity is less than half the power capacity of Japan.

A sub-regional analysis of the electricity crisis revealed imbalanced supply and access. As of 2018, the average rate of electricity access in North Africa was 97%. This was more than quadruple the average rate of access in East Africa (23%); and more than double the respective average access rates in West Africa (47%) and Southern Africa (43%). Central Africa had an access rate of 25% during the period. The foregoing implies the average electricity access rate in Africa during the period was 47% ((97% + 47% + 43% + 25% + 23%) ÷ 5 = 235% ÷ 5 = 47%). This was less than half the respective access rates in China (100%) and Brazil (97%); and more than half the access rate in India (82%). Although the average access rate in East Africa (23%) during the period under review was low, Kenya had an access rate of 73%, with a target of 95% access rate by 2020. The 73% access rate was a significant jump from an earlier access rate of 25% in 2012. Some analysts opined realisation of the 2020 target would usher Kenya onto the list of global economies with the greatest power success narratives. The access rate in Tanzania during the period was estimated at 32% in spite of the numerous resources at her disposal, including sources of non-renewable fuel such as gas; and renewables such as wind, geothermal and hydro (Africa Oil and Power.Com, 2018).

Available statistics from the World Bank (as cited in ESI-Africa, 2015) noted the electrification access rate in Ghana as of 2012 was 64.1%. This was 21.3% short of the access rate in South Africa (85.4%) during the period. However, due to increased investment in electricity generation capacity and transmission infrastructure, the access rate in Ghana in 2015 was estimated at over 80%, one of the highest power penetration rates, together with South Africa on the continent. The immediate socio-economic benefits of the massive investment in power generation was not felt in the Ghanaian economy during the period; the years 2014 through 2016 were characterised by frequent power outages and power rationing in many parts of the country, which culminated in the use of the local terminology, Dumsor. In 2015, the then Ghana’s Energy Minister, Dr. Kwabena Donkor, assured the nation and the whole world of the country’s preparedness to end power rationing by 2016. His assurance was based on massive investment in energy infrastructure, including the purchase of power barges.

Currently, Ghana has a total installed electricity generation capacity of about 4,700 megawatts, implying she generates about 2,000 megawatts in excess of her total consumption capacity of 2,700 megawatts. The data revealed Ghana’s electricity access rate increased by about 15% between 2012 and 2015 (ESI-Africa, 2015). Ghana’s target is to ensure universal access to the electricity supply by 2020 (USAID, 2020). The access rate in Nigeria in 2015 was 60% (World Bank as cited in Sustainable Energy for All, 2020). Through the implementation of the Sustainable Energy for All Country Action together with other action plans, Nigeria emerged with the following targets: increase electricity access rate to 75% by 2020; and increase access rate to 90% by 2030 (Sustainable Energy for All, 2020). In some cases, the installed generation capacity of electricity in African countries is at variance with the actual electricity generation capacity available for distribution and consumption. Some identified factors responsible for this variance include outmoded or worn-out infrastructure, inadequate supply of fuel, and changes in hydrological conditions, among others (USAID, 2020). Evidently, these constraints affect the rate of access to electricity supplies in many parts of Africa; they affect stable power generation and adequate supply to businesses. This in turn affects the businesses’ ability to ensure consistency and eventual increase in production and productivity.

Bureaucratic business registration and contract execution processes have been a bane to the success of businesses on the African continent. For example, in the Democratic Republic of Congo (DR Congo), it takes about one hundred and fifty-five (155) days to complete a business registration process. In Ghana, a business certificate applicant is often assured of receiving the certificate in two weeks after the final submission of application forms. However, it takes several months for the business certificate to be finally issued to the applicant. Nonetheless, the introduction of online applications in the country in recent periods seems to be reversing the unfortunate trend. In Angola, the successful execution of a contract involves forty-seven (47) procedures and thousand (1,000) days (World Bank Group, 2017).

Unreliable water supply affects the productive capacity of firms that rely on water for production and manufacturing. The pollution of water bodies in Ghana through illegal mining activities has dire cost implications for the treatment and production of potable water to the people by the Ghana Water Company Limited. Foreign-investor participation in business development in African economies is negatively impacted by these unfortunate economic setbacks.

Another major bottleneck is high policy rates quoted by African central banks. Although they are intended to tame inflation among other significant economic considerations and measures, high policy rates affect the lending rate quoted by financial institutions (microfinance institutions, rural and community banks, savings and loans companies, investment banks, and universal banks) to businesses. The Monetary Policy Committee (MPC) of the Bank of Ghana currently maintains the policy rate at 14.5%. This implies Ghana has the 15^th highest policy rate in the world; and the 7^th highest in Africa. The current policy rate in Zimbabwe is 35%. This is the 3^rd highest in the world; and the highest in Africa. Other African economies with relatively high-interest rates include Liberia (25%), Congo (18.5%), Sudan (16.5%), Angola (15.5%), and Sierra Leone (15%). Conversely, some African countries with comparatively low policy rates include Malawi (13.5%), Nigeria (12.5%), Guinea (11.5%), Mozambique (10.25%), Gambia and South Sudan (10%), Madagascar (9.5%), Egypt (9.25%), Zambia (8%), and Rwanda (4.5%). The respective policy rates in Kenya, Ethiopia and Uganda is 7%. The current policy rate in Cape Verde is 1%. This is the least in Africa, and one of the lowest in the world. The policy rate in Cape Verde (1%) is 4% shy of the respective policy rates in Mauritania (5%) and Tanzania (5%), and 2.5% lower than the prevailing policy rates in South Africa (3.5%) and Lesotho (3.5%). All the French-speaking countries in West Africa and Guinea Bissau have a policy rate of 4%, which is 0.25% lower than the current rate in Botswana (4.25%); and 0.75% more than the policy rate in the Central African countries (3.25%). Libya and Seychelles maintain a policy rate of 3% (Tradingeconomics.com, 2020).

The average lending rate in Ghana has dropped from 33% to about 23%. Despite the significant drop, some analysts and investors consider the current average lending rate to be high and unattractive to businesses in the country. High non-performing loans (NPLs) affect African banks’ resolve to increase lending to businesses. Similarly, unstructured operations and poor records keeping hinder businesses from accessing loans at the banks. In spite of the low policy rate, the political unrest in Libya has negative implications for the country’s position in the annual ease of doing business rankings by the World Bank Group; and the country’s ability to attract foreign direct investments, if the latter remains a priority on her economic development and growth agenda.

Unfortunately, some manufacturing businesses on the African continent are unable to produce to meet international standards, specifications, and quality. This affects their ability to penetrate and enter the European and Asian markets. It sometimes affects cross-border trade on the continent. Businesses on the continent are negatively impacted by the absence of adequate professional skills and brain drain. Extensive use of family ties, nepotism, cronyism, and lack of succession plan affect the perpetuity of businesses in Africa. Admittedly, the educational systems in most parts of Africa, as handed by the colonial masters, are theoretically-driven, and not practically-oriented. This affects the various institutions’ ability to train graduates with the requisite skill and dexterity for the job markets. Ghana’s decision to host the African Continental Free Trade Area (AfCFTA) Secretariat has intensified calls on the authorities to review the existing system of education, and to tailor its contents to meet the contemporary needs of the African and global job markets, so the country could benefit fairly from hosting of the AfCFTA Secretariat and implementation of the AfCFTA Agreement.

The recent COVID-19 outbreak has increased uncertainties in domestic and global financial markets; and has, in turn, increased the reluctance of some financial institutions to stimulate lending, especially at fairly reduced rates across Africa. However, initiatives of individual African countries to ensure economic stimulation through quantitative easing (for example, reduction in policy rate from 16% to 14.5%; reduction in reserve ratio from 10% to 8%; and reduction in capital adequacy ratio from 13% to 11.5% in Ghana), implementation of expansionary fiscal policies (massive investments in roads and other infrastructure by many African governments including Ghana, Nigeria, Kenya, Ethiopia, Djibouti, Egypt, Zambia, and others), and increasing money supply through the provision of financial stimulus to large, medium- and small-size businesses are yielding positive dividends. In Ghana, the President Nana Akufo-Addo-led administration has taken steps through the central bank to ensure funds of depositors of the liquidated three hundred and forty-seven (347) microfinance institutions, twenty-three (23) savings and loans companies, and fifty (50) fund management companies are paid in full. The total number of individual claims is in excess of one million. The estimated cost of the total financial bailout from this exercise to the nation is GH¢6.49 billion. The decision to effect payments at this time is quite strategic; it would increase money supply to over one million people to ensure economic stimulation while transitioning the country from the global liquidity trap occasioned by the COVID-19 pandemic to the road of economic recovery and growth. The amount may form part of a total financial bailout of GH¢21.7 billion to the financial sub-sector of the Ghanaian economy in recent periods.

Ease of Doing Business Rankings

The enumerated challenges in the preceding section tend to affect the continent’s attraction to foreign direct investment (FDI), and performance of African countries in the annual ease of doing business rankings. Data released by the World Bank Group for 2020 revealed no African country formed part of the top-twelve (12) economies in the world during the period. However, it is a significant improvement over the release for 2017 which indicated no African country formed part of the top-forty-eight (48) economies across the globe. Mauritius was the highest-ranked African country at 49^th position in the global rankings; and 1^st in Africa in 2017. Through the dint of hard work, Mauritius is ranked 13^th globally and 1^st in Africa this year. Other countries with tremendous improvements in their respective rankings include Rwanda (38^th in the world, and 2^nd in Africa), Morocco (53^rd in the world, and 3^rd in Africa), and Kenya (56^th in the world, and 4^th in Africa). The respective rankings of these countries in 2017 were Rwanda (56^th in the world, and 2^nd in Africa), Morocco (68^th in the world, and 3^rd in Africa), and Kenya (92^nd in the world, and 7^th in Africa). Comparatively, Kenya outpaced Botswana, South Africa and Tunisia in the 2020 African rankings. The respective African rankings of Botswana, South Africa and Tunisia in 2017 were 4^th, 5^th, and 6^th.

Presently, Nigeria, the most populous nation on the continent with an estimated population of 209.13 million people (Countrymetrs.info, 2020), is ranked 131^st in the world and 21^st in Africa. The country’s respective global and African rankings in 2017 were 169^th and 41^st. Thus, the current rankings may be described as evidence of rewards from efforts at improving on existing structures related to business formation and operations in the country. Other African countries whose comparative performance equally accelerated during the period include Togo (currently ranked 97^th in the world, and 9^th in Africa), Cote d’Ivoire (110^th in the world, and 13^th in Africa), and Djibouti (112^th in the world, and 14^th in Africa). The respective performance of these countries is worth-commending in that, in 2017, Togo ranked 154^th in the world and 28^th Africa. The respective rankings of Cote d’Ivoire and Djibouti in 2017 were 142^nd and 21^st; and 171^st and 42^nd. The rankings suggest Togo is currently the best place to do business in West Africa, followed by Cote d’Ivoire and Ghana respectively. In 2017 through 2019, Ghana remained the best place to do business in the West African sub-region. Some countries whose performance in the rankings decelerated during the period include Ghana (ranked 118^th in the world, and 17^th in Africa), Mali (148^th in the world, and 27^th in Africa), and Cape Verde (137^th in the world, and 23^rd in Africa). Ghana and Cape Verde’s current respective rankings are shy of their respective rankings (108^th in the world, and 11^th in Africa; 129^th in the world, and 16^th in Africa) for 2017 (World Bank Group, 2017).

The protracted socio-political tensions in Mali which have trickled to Burkina Faso and Niger have impacted adversely on the former’s performance in the ease of doing business rankings. Recall, in 2017, Burkina Faso was ranked 146^th globally and 23^rd in Africa. These rankings were superior to the country’s respective rankings in the current year: 151^st in the world, and 29^th in Africa. Countries such as South Sudan, Libya, Eritrea and Somalia did not witness significant changes in their respective global and African rankings. In the world rankings, South Sudan moved one significant place from 186^th in 2017 to 185^th in 2020 but maintained her 51^st position in Africa during the period. The respective global and African rankings for Libya, Eritrea and Somalia in 2020 are 186^th and 52^nd, 189^th and 53^rd, and 190^th and 54^th (World Bank Group, 2020). The respective African rankings of these countries remained unchanged between 2017 and 2020. We observe prolonged civil conflicts in certain parts of Africa have stalled economic development and growth by “starving” foreign direct investments (FDIs), which “feed” essentially on stable political atmosphere and friendly business environment.

Recommendations

In view of the myriad of challenges saddled with businesses in Africa, the following recommendations are made. First, African leaders must strive to provide improved road networks and transportation systems by constructing new roads, expanding existing ones; and constructing overpasses at strategic intersections. This would decrease employee work-travel hours, and increase labour productivity. Recent massive infrastructural developments in Ethiopia, Kenya, Rwanda, Nigeria, South Africa, and Ghana, among other economies, seem to be addressing the challenge. Exigencies of the United Nations (UN) Sustainable Development Goals (SDGs) for 2030 and implementation of the AfCFTA Agreement render massive investments in infrastructure in African economies inevitable at this time.

Second, import-restriction measures must be tightened to provide protection for nascent businesses on the African continent. It is hoped the implementation of AfCFTA in earnest would help address the foregoing challenge by increasing inter-country and intra-African trade. Third, unnecessary administrative bottlenecks in the business registration and contract execution processes must be reviewed and where necessary, eliminated to make the continent an attractive investment destination to foreign investors while improving on member countries’ respective positions in the World Bank Group’s global ease of doing business rankings.

Fourth, efforts by the government of Ghana to nib the activities of illegal small-scale miners in the bud are a step in the right direction. The efforts are likely to bolster local- and foreign investor confidence in the Ghanaian economy and minimise the adverse effects of illegal mining on our water bodies. Other African countries with similar challenges could adapt and improve on Ghana’s model to address their respective challenges. Fifth, given a steady decline in inflation rate in Africa in spite of recent hikes occasioned by COVID-19, it behoves the governments, through their respective central banks, to periodically review the policy rates downward to enhance businesses’ chances of accessing loans at reasonable interest rates from lending institutions. Various governments’ efforts aimed at ensuring economic development and growth through financial inclusion and stability would be an exercise in futility if the efforts are not backed by the corresponding decrease in average lending rates in the financial markets. It is, therefore, imperative for the central banks in Africa to prevail on the various banks and specialised deposit-taking institutions operating within their respective jurisdictions to review their lending rates downward to reflect the recent decrease in governments’ policy rates.

Sixth, standards authorities in the various African economies must step-up their efforts; they must ensure strict adherence and compliance to standards regulations by businesses to boost intra-African trade, and enhance the latter’s competitiveness in the global market. A “good job” by standard authorities would help eliminate the high incidence of rejection of products from Africa in the European and other global markets. Seventh, the Ministries of Education, Trade and Industry, and Business Development must liaise with various tertiary institutions to ensure the contents of academic curricula are tailored to meet the needs and demands of businesses and industries. More students should be encouraged to enroll in technical and vocational education and training programmes to reduce the deficiencies in the supply of professionals with technical and vocational skills.

Eighth, the contribution of the digital economy to the respective gross domestic products (GDPs) of some African countries in recent years is in excess of 5%. It is firmly believed the contribution could inch to 12% or more if the countries are able to scale-up their investments in digital technologies. Increased investment in digital technology could churn out significant socio-economic outcomes and benefits; it would increase job opportunities, orient the implied economies towards the digital revolution; increase regional and global competitiveness, witness remarkable economic expansion; and increase economic growth rates beyond annual targets. Given its enormous economic benefits, digital technology is strongly recommended to all countries on the African continent.

Ninth, the absence of an effective business succession plan remains a major constraint to many firms not only in Africa but also across the globe. In the United States of America (USA), over 90% of businesses are owned by families. However, only 30% of these businesses have succession plans; only a little over 30% of these businesses are successfully transferred to the second generation. Incidentally, the rate of businesses that transitions to the third generation is less than 12% (Vlcpa.com, 2016). Access to reliable statistics on the number of businesses that is family-owned in Africa may be a daunting task. This notwithstanding, every business, whether individually- or family- or group-owned through sole proprietorships, partnerships and companies requires an effective business plan to define the future of the entity positively. Imperatively, business owners must strive to separate their firms from social relations; they must groom dependent or dependents to effectively succeed them in old age, in times of infirmity or upon their demise to assure the principle of “Going Concern” in business operations and management.

Finally, throughout the narrative, we observe challenges confronting successful development of businesses in Africa could be categorised into five broad themes. These include social, political, economic, legal, and technological (SPELT) challenges. Discussions in the preceding section affirmed the enormity of some of these challenges and the extent to which they serve as constraints to accelerated development and growth among member countries on the continent. To reverse the trend positively, it is firmly believed collective efforts aimed at addressing these challenges through various enactments of the African Union (AU) such as the implementation of the AfCFTA Agreement could strategically position the continent among the comity of regions across the globe. To reiterate and reaffirm, this is the opportune time for various African governments to provide the needed leadership impetus to mitigate the SPELT challenges, so the continent could assume her enviable role through steady economic development and growth; and strong annual contributions to global GDP.

The writer is a Chartered Economist/Business Consultant

Meet Audrey Swatson: a young female pilot changing the aviation narrative

September 28, 2020

Audery Swatson 2 — Photo: Audrey Maame Esi Swatson

On any given day, when you hear the pilot speaking to passengers on a flight, a man’s voice is what is heard. In Africa, the probabilities are higher than in Europe, America and Australia. Hardly would you hear the voice of a woman speaking as the pilot.

But in Ghana, Audrey Maame Esi Swatson is currently the youngest commercial female pilot at 23 and she is quietly changing the narrative. She was born and raised in Ghana by her noble parents Isaac Kwesi Swatson, of blessed memory and Lucy Swatson. At 19, Audrey earned her wings in April 2016 after she pursued her passion for aviation.

Currently, she is a first officer with Passion Air, an airline company, flying the Dash8 Q-400 aircraft – a twin-turboprop regional transport passenger aircraft.

Reminiscing her childhood, Ms Swatson, an old student of Tender Loving Care and the University of Ghana Basic School shared that she lived a normal childhood life while enjoying cartoons, African movies, drama stage plays including some extra-curricular activities such as being an active sportsperson.

She grew up with three other siblings together with her strict but loving parents as she describes — who ensured they lived a comfortable, well-mannered life. “My parents demanded the best of efforts in everything you decide to do. Be it academics, sports, chores, playing or church. And my only worry was a ball stuck underneath daddy’s car in the compound when we played soccer,” she shared.

After attending the Ghana Christian International High School in Dodowa for her secondary education, where she offered Elective Science, Ms Swatson proceeded to the Mach1 Aviation Academy in South Africa for her flight training.

Piloting

As someone determined to be different, Audrey Swatson shared her dreams of becoming a pilot with her number one cheerleader — her dad — who then started saving towards her future dream when she turned nine.

Her journey to become a pilot had not always been a smooth one. There were times, like most people, she felt like giving up. However, “my dad said if I change my mind not to fly, then he would keep the money to himself. So, together with my mum, they researched on how to enroll in flight schools. I was just so excited to learn to fly and to be with other people who were passionate when I started training,” she narrated.

Sharing her experience as a female pilot, Audrey Swatson describes it as being very normal. She said there is no different training given to pilots based on their gender. “There are no advantages or disadvantages being a female pilot — the training, long hours of studies and late night chair flying is same. Although for me, as a woman, I usually have to work twice as much at the studies because the understanding sometimes does not come to me naturally to be at the standard required with the guys.”

“In the end, you would be judged on your credentials as a pilot. All the airlines are only looking for a person who knows his/her job well irrespective of your gender. Up in the sky, the wind won’t blow easy knowing you are female. Forces of nature, laws of aerodynamics do not work like that,” she added.

She recounts a number of pitfalls during her flight training as exams were getting quite tough for her in the beginning. Ms Swatson revealed that although she passed her exams, there were others she had to retake five times before she could make it.

Another challenge, she recalled, was the challenge of landing the Cessna-172 aeroplane in the beginning. “It is the part of the training that most student pilots tear down their hopes of ever becoming a pilot. During that time for my training, I would think to myself that, ha! Maybe it is true that girls cannot do this thing. It is like they are right.

After today’s lesson, I will phone daddy to tell him I give up with tears filled in my eyes and looking to my side window on the left. I will just see my reflection blurred and with a blink of the eyes, tears roll down my cheeks. Tough time, but every time, I went back up there to fly and try again until I got it right and went solo.”

Ms Swatson says she still faces challenges from time to time but finds new ways to surmount them. “In flying, I realize just when you get your hand over a challenge then something new comes up; every time. But my passion for flying overshadows it. It is always a great pleasure to fly because I leave all my problems on the ground until I am back again,” she said amidst laughter.

Throwing more light on her experiences and challenges, Ms Swatson narrates that she got overwhelmed when she first started flying the Dash8-Q400 series aircraft with Passion Air.

“I was really overwhelmed with how much I had to know about the aircraft in such a short time. This aircraft, compared to the Seneca-3 multi-engine training aircraft at Mach1 Aviation Academy was by far very fast and with very powerful engines 5071 Shaft Horsepower each. I was always behind the aircraft in understanding. When we landed in Tamale or Kumasi, my brains were still yet to take-off from Accra. Training on the Dash8 Q400 was really a tough one for me, I must say.”

Education

The young pilot said apart from Jesus Christ and her parents, education has played a very important role in her journey of becoming a pilot. She explains that education is not just going to school for 12 years but rather, about helping to build character.

“I owe everything I am and everything I hope to be to school. Without the education I have received during my lifetime, the friends I have met and have networked with, the great teachers that have been there for me since day one, I would not be able to move on to a more positive place in my life. I would not be able to have a chance to even become a pilot, to be given a chance to inspire other children that whatever they dream of, they can actually be. Education has fulfilled me and I am a more positive person because of it.”

Although it may be natural to think that Ms Swatson’s biggest fear will be losing control of the yoke while aboard, she cited the fear of losing any of her parents as one of her biggest fears in life. However, she narrates that she already lost her father. She likened the feeling of losing her father to being “amputated and losing an engine.”

“My giant pine, daddy, passed on March 2020 and it is the saddest day of my life. I miss coming home into his arms to tell him about my flights. Sometimes, I am also afraid of not being able to fly.”

Touching on her highs of flying, she said every flight is a wow moment to her. She puts it better: “God always has something up there, every time. The view is the best part of the flight because I have the plane in my hands. Every day is different.”

In future, Ghana’s youngest pilot aspired to be a Captain. She also looks forward to establishing an annual flight training scholarship for four Ghanaian girls with my Excel Aviation Company. She again aspires to run a flight training school in Ghana which she said her father already helped her to put a documented plan together for.

On advice to other youngsters, Audrey Swatson has this to say: “You are never too young to make your dreams come true. Hold yourself to high standards, collaborate and support others. Set specific goals, take one day at a time yet having a long-term vision and plan. Benchmark your performance against the best of the best and strive for excellence without arrogance. Build and grow your networks and lean into a mentor who can offer an unbiased perspective.

When you do succeed, be humble, teach others and share your passion for aviation. It will be contagious! Live life more fully. Don does not worry about the past or anxious about the future. The only thing you can control is the moment. So be happier, more optimistic, less depressed, and more satisfied.”

The next time you are flying with Passion Air to any part of the country, do expect the voice of a woman or better still, do not be surprised when the voice is not baritone but a little light.

Solidaridad builds capacity of oil palm actors

September 28, 2020

Solidaridad (an international civil society organization) has organised a training session in advocacy for zonal executives of the Oil Palm Development Association (OPDAG) Ghana at Cape Coast in the Central Region.

Attended by 44 oil palm actors, the training was to equip executives of the oil palm value chain association with tools and strategies to influence policy as well as deliberate on issues affecting the oil palm sector.

Also, the training had representatives from the Environmental Protection Agency (EPA), the Ministry of Trade and Industry (MOTI) and Planting for Export and Rural Development (PERD).

Topics discussed include “climate vulnerability assessment and life cycle analysis, update on the Tree Crop Development Authourity and PERM implementation.

Others are MoTU strategic initiatives and opportunities for palm oil value chain actors, OPDAG strategic plan among others.

Susan Yemidi, Country Rep. of Solidaridad in an interview explained that “Solidaridad West Africa is working on a number of agric commodities and for Ghana in particular, we are working in oil palm and cocoa”.

“Under the oil palm programme, we have Sustainable West Africa Palm Oil Programme (SWAPP) and we are in phase II. In phase II, we are trying to scale up of what we learnt in phase I that is, there are best management practices that we can have to improve harvest and yields for all farmer” she said.

So far, she said over 10,000 oil palm farmers have been trained in best management practices under SWAPP II.

SWAPP II, she pointed out seeks to improve the oil palm value chain, increase incomes of small farmers and processors and generate economic growth and jobs in Cote D’Ivoire, Liberia and Sierra Leone.

“There are three components to this programme; access to finance, skills training and environmental management issues as well as policy dialogue because, we are seeking to also transform the sector” she added.

Samuel Avaala, President of OPDAG said over the years, the association has been engaging policymakers and the government on critical issues that affect the oil palm sector in Ghana.

“Notable among recent achievements include advocating the establishment of the Tree Crop Development Authourity to regulate and promote the sector,” he said.

Nicholas Issaka, Programme Manager SWAPP II said “SWAPP II is part of Solidaridad’s global agenda to build sustainable production for oil palm and other commodities.

NITA holds virtual ICT stakeholder conference today

September 28, 2020

The National Information Technology Agency (NITA), is set to hold a virtual Information Communication Technology stakeholders to discuss ICT Standards and Guidelines developed by NITA.

The conference, which is set to take place today, Monday, September 28, 2020, at 10 AM – 12 PM under the theme ‘Deepening Regulatory Compliance for a Successful Digitization Agenda’, would see heads and ICT heads of MDAs and MMDAs and private sector ICT professionals in attendance.

The conference, according to a statement from NITA, is being organized to solicit comments and ideas to fine-tune the ICT Standards and Policy guidelines. It will also serve as a medium for NITA to disseminate information to stakeholders and the public, concerning the progress of Regulatory initiatives and other issues.

The main speakers for the conference are Ursula Owusu-Ekuful, Minister of Communications as the keynote Speaker; Richard Okyere-Fosu, Ag. Director General, NITA; Estelle Akofio-Sowah, West Africa Regional Manager, CSquared and Raymond Kudjo, an IT Lawyer.

NITA is an agency under the Ministry of Communications established by Act 771 to regulate Information Communication Technologies (ICT) in Ghana. The object of the agency as mandated by the Act (section 2) is to regulate the provision of information communications technology, ensure the provision of quality information communications technology, promote standards of efficiency and ensure high quality of service.

The agency is currently working to fully enforce its mandate on the application of standards in the adoption, deployment, configuration and implementation of ICT in both public and private sector to enhance usage, access and security. The purpose of these standards is to ensure the provision of quality information communications technology, promote standards of efficiency and ensure high quality of service.

Apart from the conference serving as an important forum for key ICT stakeholders to discuss the ICT Standards and Guidelines, there will also be further deliberations on matters of common interest that relates to the sector.

The documents to be reviewed for comments/feedback have been uploaded on the NITA website at www.nita.gov.gh. They are Data Centre Standards, Guideline/ Standards for LAN/WAN, Management of IT Infrastructure for MDAs and MMDAs, Electronic Records and Data Management Standards and Systems and Applications Standards.

KGL, NLA and Associates partner to set up lottery welfare fund

September 28, 2020

kgl — KGL, NLA and Associates partner to set up lottery welfare fund

The Board of KGL Technology Limited, in consultation with the leadership of both the National Lottery Authority(NLA) and Association of Lotto Marketing Companies(ALMC), has partnered to set up a welfare fund to assist lottery operators.

The welfare fund is primarily aimed at availing money to be accessed solely by all officially licensed Lotto Marketing Companies (LMC) under the National Lottery Authority.

Head of Public Relations Unit, NLA, Razak Kojo Opoku, in a statement emphasized that the fund will promote the shared objective of improving revenue generation and enhance operations of Lotto Marketing Companies under the Authority.

“The Boards and Leadership of KGL, NLA and Association of Lotto Marketing Companies are in final stages of discourse to settle on the seed amount as well as the criteria and modalities for Lotto Marketing Companies to access funds, which will go a long way to address the welfare challenges and concerns.

Together, we will take pragmatic steps to improve the conditions of the collective body of Lotto Marketers starting with this Welfare Fund,” he said

A core mandate of the National Lottery Authority(NLA) is to market and sell differentiated lottery products to create a viable revenue stream for the Government’s development agenda.

However, technology is currently the most effective form of marketing and constantly evolving, as digitalization is quickly becoming the mainstay of consumer preference. It is in response to these trends that the NLA has aligned to government’s policy on digitalization and is currently exploring digital solutions to safeguard and augment the revenue generating capacity of existing lottery sales channels.

One of such expansive initiatives is the partnership with KGL Technology Limited to promote lottery marketing through digital platforms such as the Keed-NLA’s online and *959# shortcode

According to KGL Technology Limited, it remains committed to both the revenue-generating objectives and welfare of the collective suite of online games, hinting that it is with this intent that the company is leading the charge and committing sustainable financial and resource investment into Corporate Social Responsibility aligned to the National Lotto Act 722.

KGL’s operation of Keed-NLA’s online and *959# platform and its subsequent positive impact on growing revenue and player acquisition has fast become an integral wing of the National Lottery Authority(NLA). KGL’s efforts in assisting the Authority to achieve its goal for the consolidated fund have been even more significant with the challenges of the Coronavirus pandemic.

The NLA indicates that all finalized details after the discourse will be communicated to all stakeholders in due course.

Fitch affirms Afreximbank’s BBB- credit rating

September 28, 2020

The African Export-Import Bank (Afreximbank) announces that Fitch Ratings has affirmed the Bank’s long-term Issuer Default Ratings (IDR) at ‘BBB-‘with a stable outlook. The agency also affirmed the Bank’s Short-Term IDR at ‘F3’ and senior unsecured debt at ‘BBB-.’

Fitch highlighted that Afreximbank’s ‘BBB-‘ rating is driven by its intrinsic features, including solvency and liquidity, and adding that the ongoing and expected capital increases support the resilience of the bank’s solvency during the COVID-19 pandemic.

The agency noted that “the strong capitalization is underpinned by the equity to assets guarantees ratio at 18.1% in 2019, close to 2018 level (18.5%) as the bank’s expansion has been broadly matched by paid-in capital payments from the ongoing US$1 billion capital increase (targeted to be completed by end-2021, 91% had been raised by end-H1 2020) and internal capital generation.”

Fitch further noted that a high level of loan collateralization (88% of the facilities), credit insurances from ‘A’ rated insurers and hedging strategies on commodity-backed facilities, have all helped the Bank maintain a low impairment ratio of 2.4% on a 10-year average, “despite its ‘high’ risk operating environment.” Fitch observes that the Bureau of African Union Heads of States and Governments recently endorsed a significant increase to Afreximbank’s subscribed capital, which will further support the resilience of the Bank’s solvency amid COVID-19 related pressures on asset quality.

The agency expressed the view that Afreximbank’s PATIMFA facility, which is supporting African nations during the pandemic, will incentivize sovereigns to remain current on loan repayments with the Bank.

Prof. Benedict Oramah, President of Afreximbank, said: “Afreximbank is pleased to receive this positive affirmation from Fitch and we have full confidence in our resilience during the COVID-19 pandemic. Through strong liquidity and robust risk management, we have ensured that we have the solid foundation needed to support Africa’s post-pandemic recovery and the continued expansion of intra-African trade.

Our strategic response to COVID-19, and the implementation of the African Continental Free Trade Agreement, will only strengthen our position, reinforcing our role as a key driver of the continent’s economic development.”

Bright future forecast for the automotive sector and youth start-ups in Africa

September 28, 2020

Photo: Dave Coffey, CEO, African Association of Automotive Manufacturers

Afreximbank, in collaboration with the African Union, has hosted the second of its five webinars raising awareness for the African continent’s premier trade event, the Intra-African Trade Fair (IATF2021), to be held in Kigali, Rwanda, from 6 – 12 September 2021, under the theme ‘Building Bridges for a Successful AfCFTA.’

Dave Coffey, CEO of the African Association of Automotive Manufacturers (AAAM) highlighted the huge potential of African markets to be the next major opportunity for the global and domestic automotive sector with its young demographic profile, rapid population growth and urbanisation, burgeoning middle class and technology all suggesting exponential growth in demand.

He said: “We regard the ‘Pan African Auto Pact’ as the potential gamechanger for the development of the African automobile market, through its potential to connect African regions to create a harmonised portfolio with distributed value chains and manufacturing, started with a ‘coalition of the willing.”

In a second presentation on the African Automotive sector, Gainmore Zanamwe of Afreximbank’s Intra-African Trade Initiative, focused on the bright prospects for the sector through the further development of regional value chains. He said: “Through these initiatives, we could see the new vehicle sales increase from 1 million to 5 million sales a year across the continent.”

Afreximbank’s strategy for the Automotive industry includes:

Automotive Financing – providing financing and risk-sharing to industry players and consumers;
Regional Automotive Value Chains – Fostering the emergence of regional value hubs with focus on value-added manufacturing created through joint ventures between global Original Equipment Manufacturers, tier 1 suppliers and local partners; and
Policy and Capacity Building – Supporting the setting of the right automotive policies and capacity building programmes.

Allan Majuru, CEO of ZimTrade, stressed the importance of Youth start-ups in driving growth in African economies, with their key advantages being their technology savviness, innovation, risk-taking, early-adopting and game-changing mentality, and their ability to work smart. To reach their potential, significant support is required in the form of capacity development and mentoring, networking, access to finance, supportive infrastructure, enabling policies and market linkages.

Emery Rubagenga, CEO and Founder of Ishango, examined the challenges facing Youth start-ups and SMEs in Africa which include access to finance, infrastructure deficits, the need for more countries to join Rwanda and Ghana in creating an enabling environment for start-ups, differential laws and regulations across the continent and significant competition.

The African Continental Free Trade Area (AfCFTA) promises to provide exponential opportunities through its creation of a single liberalised continental market with free movement of both capital and people.

In addition to the immense trade and investment opportunities proffered by the AfCFTA, the event also highlighted the importance of attending the IATF2021 for all those involved in African trade and investments.

IATF2021 will provide a unique and valuable platform for businesses to explore a single integrated African market of over 1.3 billion people with a combined GDP of over US$2.5 trillion.

This is Leadership: Understanding targets from another viewpoint

September 27, 2020

People without targets lack direction and often sing songs like ‘I will get there somehow…….’

On the road to leadership development, one key item that prepares us is target. You cannot be on the leadership journey without having targets. You must set some targets for yourself and they must be clear and stretching. If you don’t learn to do this, you may dissipate in the blurry atmosphere of your own values, vision, mission, objectives, strategies and tactics. That is, if you have one.

People without targets lack direction and often sing songs like ‘I will get there somehow, I know there’s a way, there’s always an answer when I hit the highway, I still stagger in pain and I shall cross the river when I get there’. Some of these songs are ‘sweet’ to the ear. But they don’t put bread on the table and they don’t even bake bread.

Have open arms for targets. Ask for targets when you join any new team. Questions like; so what’s the team’s objective, vision and mission are very important to know. It is suicidal to start each year without targets. In life, everyone must have a target if not targets. At home and at the workplace, you have to have targets. Target. Some say it’s a goal. Some say it’s a mark. Some say it’s the aim. Some say it’s the objective. None of these synonyms would be written off, albeit, the bite would like to flow with target as the bull’s eye. No matter how hard it is, drag the bull by the horn and eye the bull’s eye.

Targets are not meant to be glorified. They are set to be met and exceeded. It’s boring to meet targets. But it’s exciting to exceed them. Be spirited about exceeding targets and you will be happy you did. Of course resources shall be scarce and situations may remain ambiguous, but you need to exceed your targets. I shared the concept of targets with a team sometime back in one of my corporate trainings. I only try to make a journey simple for myself before I walk in it. I did not say it is easy. I said simple. Current trends turn out to be that simple things are difficult to do and complex things are simple to do. Think about it.

A simple view of targets is thus expressed in a simple analogy. Targets provide clear direction because it is expected to be specific. As said, if you know where you are going, you are always directed at the target. If you don’t know where you are going, you’ll also think that every route is exciting if not the answer for you. For example, travelling from Accra to Kumasi by road is a clear and specific route well-defined. The target is to get to Kumasi and yours is to get to move from Accra to Kumasi. With this in mind, you’ll only be interested in boarding the bus that should take you to Kumasi. The bus may choose the Nsawam route or the Koforidua route, if you are familiar with Ghana travelling itinerary.

So let’s agree that your bus chose the Nsawam route. If the bus had a tyre blast at Nsawam, you don’t truncate the trip. You either wait for the tyre to be fixed or you change the bus. When you change the bus and the new bus breaks down at Konongo, you don’t return either. You still have a target to meet. The target is to get to Kumasi. So you look forward to it. If you decide to join another bus and the vehicle experiences overheating and therefore the engine has to stop at Ejisu, you’ll still have to think again because you haven’t hit your target yet: that is to get to Kumasi.

If you don’t get a vehicle to continue your journey from Ejisu to Kumasi, then you would have to think again. Maybe you have to start walking. If you still fall behind time which is an essential ingredient in target setting and meeting targets, then you would have to start running. If you fall whiles running, you would have to get up, dust off and run towards meeting the target and subsequently exceeding expectations. I know for sure that you do get the drift. The only satisfaction in meeting and exceeding targets is the learning curve. The learning curve is experience. And with experience, you can’t put money on it.

Don’t be happy to only meet your targets. Be excited to exceed your targets. On the journey to leadership development, build generational thinkers. Employees must contribute to the next generation and not just for the immediate teams’ success. Exceed targets for the next Manager to also come in to exceed targets for the subsequent Managers. In so doing you shall be meeting generational targets and also extending capacities for opportunities. Don’t jump out so quickly.

See beyond. Do beyond. Love targets. Live targets. Loop in targets. Ask for challenging targets and exceed them. As you do this at work, have and set personal targets too and see the bigger picture.

Poetry Corner: What about your own push?

September 27, 2020

I popped the barrel
…to open the pistol
…to topple him from the top
I own up
I trooped to the top
…by the power wielded from a weapon
I concede
I played to the gallery
To satisfy the agitation
…of the majority
I stand accused
But where were you when he usurped the will of the people?
Where were you when he surged to the top at the count of three?
Where were you?

Are you pissed off
…because I pushed for a putsch
To push him off the top
To please the masses?
I can see you panting from panic
I can see you moisten a towel for a dousing
…just in case

What about your own push?
You pushed for a retarding third towards a retirement
After trying in the first and strutting about in the second
You said there was no sage to man the state after your second
You were the only sane the Tarra
The only Messiah
So the code needed to be amended
To ward off any wannabe from the throne
You were the only devil so known
So down the angel not known
You competed unopposed as a whitewashed wonderboy
You won a third with a thud
Was that push…not a putsch?
Oh! That push
Was that push not an open call for a putsch?

What about your own push?
You climbed to the top
Via a family tree
In tow of a family dynasty begotten by a Daddyema
…of blessed memory
You held a whole populated land as a landed property
In trust for a family dynasty
You pushed against any
Pushing to push out the dynasty
You crushed all dissenting dissident forces and voices
Reaching out to perch at the top
Was that crush
Oh! That crush
Was that not a push for a putsch?

What about your own push?
You cooked the numbers to rise to the top
The outcome was a conclusion foregone
Before the contest was given a born
You chose a referee from your fold
…an old folk
A referee to pander to a paymaster
To crown you the way you pleased
A judge in your own courtyard
A referee on your own playground
An umpire in your own political empire
Did you cook to push for a putsch or not?
What if that was also a putsch?

Building a digital marketing career: the story of Edward Asare

September 27, 2020

The Millennial’s Corner with Miss Amofa

Many millennials are pursuing careers which were once regarded as “unconventional” rather than following the traditional route. Millennials are exploring opportunities and in-demand careers in the digital, beauty, lifestyle, e-commerce, creative space. These industries present various opportunities for people from diverse backgrounds to make use of their relevant skillset.

One of the areas which is expanding and providing career opportunities for millennials is the digital media space. Digital media has become a prerequisite for enhancing company growth and increasing brand awareness. To gain a competitive edge as a business owner, you need to incorporate digital marketing into your business strategy.

For twenty-seven-year-old Edward Asare, building a career in digital media marketing happened by chance. What started as a fun project has grown into a career in Digital Marketing with expertise in social media management, blogging, content writing, and graphic designing.

Originally from Dawatrim-Asesewa, a remote village in the Eastern Region, Edward and his family engaged in peasant farming to fund his education. He later relocated to Accra to live with his uncle in order to complete his basic education.

After completing his junior high school education at De Youngster’s International School, he proceeded to Accra Academy to study Business. He gained admission to the University of Ghana to pursue a degree in Economics with Information Studies.

It was during this period Edward developed an interest in Digital Marketing and Social Media Management and eventually got the opportunity to work with Media General as a Social Media Manager in his final year. Though this posed some challenges as he had to combine school and work, he was able to develop his skill in digital media and social media management and has worked for various personalities, small businesses and organizations like Ankobra Beach Resort, Peduase Valley Resort, BTL Marketing and Step Up Business School.

Currently, Edward Asare works as the Social Media Manager for Yen.com.gh and oversees content strategy, sourcing, publishing and distribution of content, and engaging with the audience. He also ensures social media policies are adhered to within his organisation.

As a digital marketer, Edward helps brands and individuals gain online presence by creating content that increases visibility and generates sales through relevant platforms. He also blogs at www.edwardasare.com where he shares the resilience and stories of individuals who are pushing boundaries. Edward shared his journey as a Digital Marketer on the Millennial’s Corner.

At what point did you decide to build a career in digital marketing?

After national service, I was unemployed for almost a year. During that period, I provided freelance digital marketing services which helped me stay afloat. That was when I decided to give it a shot.

Were there any hesitations/setbacks that initially discouraged you from pursuing your dream?

My close associates didn’t really see the relevance of always being on social media. The profession was not really recognized then so they were worried for me. At a point, it affected my social life because I was spending more time online looking for content or creating content.

What are some of the challenges you have encountered in your career so far? How did you handle those difficulties?

Initially, people were not ready to pay for posts. They expect you to ‘just’ post their promotions. Those who were willing to pay didn’t pay enough. I did a lot of pro bono but with time, I was able to charge properly for my services.

How did you get your first job?

During university, I did my internship at TV3 after which the PA of my boss recommended me for a social media role which was available then. I was given the job and I had to combine my studies with work.

Why did you decide to share people’s success stories on LinkedIn? What is the feedback so far?

Social Media is mostly full of negativity. Entertainment news is also too much. I decided to bring some positivity to the platforms by sharing success stories. I include all the challenges and successes in the stories I post to show people that the journey to success is a process. The feedback has been great. My posts end up getting lots of engagement and that is how I got known on LinkedIn.

What are the relevant skills needed to pursue a career in digital marketing?

You need to be interested in social media, content creation, blogging and writing. Graphic designing is also a relevant skill in pursuing a digital marketing career.

How have you been able to pivot your business amidst COVID-19?

I have been working from home since COVID-19 started. I have also had the opportunity to work with more clients because people are beginning to realize the importance of digital marketing and the solutions it provides as the world moves to a virtual space. I am able to work from anywhere so far as I have a laptop, phone and reliable internet.

What are three major lessons you have learnt in your career?
You need to be trustworthy. You will have access to clients’ private information. They need to be able to entrust these details with you without fearing any form of compromise.
Being passionate about what you do is what will set you apart from others.
Be exceptional at what you do. People are watching so it is important to go beyond their expectations of people.
The digital media industry is one of the fastest-growing industries. What do you think brands and individuals can do to position themselves to stay relevant and gain a competitive edge?

Signing up for social media accounts is free. Brands need to make use of all the relevant platforms to increase visibility and generate sales.

How can brands and individuals position themselves to unlock opportunities in this industry?

Being consistent ensures that the algorithm of social media platforms favor you. Posting often and being visible will help you get various opportunities.

What is the future of digital marketing? Do you think digital marketing will totally replace traditional marketing practices?

The world is moving towards a more digital economy. As the world advances, it is important for brands to intensify their digital marketing efforts and adopt strategies that will help them stay in business.

Any advice for other young people who want to pursue a digital marketing career?

You need to be willing to offer free services for people to see what you offer. It is also necessary to learn about the dynamics of digital marketing, market trends etc. What you know now might change the next minute. Invest in developing your skills and expertise. It will definitely give you access to opportunities.

>>>Nana Akua Frimpomaa Amofa is a Writer and Creative Lead of Scripted Impressions, a creative consulting agency that helps individuals and brands tell their stories. She works as Senior Editor at El-Evangel Publications. Her work involves content development, strategy and review of publications. She’s also part of the review team of My Story Magazine, an entrepreneurial resource magazine. Connect with Nana Akua via Instagram/Twitter: @missamofa, LinkedIn: Nana Akua Frimpomaa Amofa, Email: [email protected]

Once upon a time, a star goes to work!

September 27, 2020

Shatta Wale (2) — Photo: Dancehall act, Shatta Wale

Love him or hate him, he remains the people’s favorite, an exceptionally unprecedented talent and one of the most sought after Ghanaian entertainers ever to have lived on the surface of the earth. You simply can’t do without him!

Shatta Wale, born Charles Nii Armah Mensah Jnr., is a mystery yet to be unraveled by the connoisseurs of the game and the supposed gatekeepers of the Ghanaian entertainment space. He isn’t your average celebrity but cementing his place as a living legend.

Apart from his musical exploits, he holds his own when it comes to business acumen, working the figures and aiding companies to push their units to meet their bottom line. This is evident with his recent recognition by Ghanaian manufacturer of alcoholic and non-alcoholic beverages, Kasapreko Company Limited, for promoting the company’s products to win several awards locally and internationally.

In 2014, Shatta Wale was recruited by Guinness Ghana Breweries Limited to champion the then Guinness #MadeOfBlack campaign which sought to celebrate Ghanaians who are carving their own path in life and also not afraid to express themselves.

Once again, the African Dancehall King and the biggest Ghanaian musician has been called upon by the state to help in promoting local businesses and products in a quest to developing local industries and create import substitute companies.

Shatta Wale has entered into a one-year contract with the Ghana Export-Import Bank (GEXIM) as an ambassador for a campaign to promote the production of local products and services to enhance export revenue generation dubbed ‘Made – In – Ghana 4P’.

GEXIM has a mission to facilitate the transformation of Ghana’s economy into an export-led one by supporting and developing trade between Ghana and other countries and also building Ghana’s capacity and competitiveness in the international marketplace. For the past three and half years, GEXIM has been the main financial institution driving the realization of the One District One Factory Special Initiative aimed at the socio-economic development of the country.

Made – In – Ghana 4P is a nation-wide campaign to encourage Ghanaians to support the growth and development of indigenous businesses as part of the bank’s mandate to assist in the promotion of locally produced goods and services to enhance export revenue generation, improve import-substitution, add value, and create employment in the country.

Over the years, GEXIM has engaged with key stakeholders and supported the Creative Industry and its partnership with Shatta Wale shows its preparedness to contracted personalities within the sector who have shown prowess in their respective fields and have interest in a campaign to help push the Made in Ghana agenda.

#MadeInGhana has been in the trends from last week following the release of a song by Shatta Wale titled “I Am Made In Ghana” which chronicles the importance of patronizing locally manufactured products and its impact to the Ghanaian economy. He also got social media buzzing after releasing some spectacular and never seen photos of him exquisitely styled in African print.

In a social media post, the Dancehall musician further expressed his excitement to be associated with the Made In Ghana Campaign aimed at bringing prosperity to the nation. He also encouraged Ghanaians to join the Made in Ghana agenda to push Ghana forward.

It is certainly an exciting time for Ghanaian businesses with this calculated attempt to place premium on Ghanaian businesses, services and products with the African Dancehall King championing the agenda.

Germany advances as major player in pan-African Trade and Investment

September 26, 2020

PR-Picture — Günter Nooke, Africa Envoy to German Chancellor Angela Merkel

“Investment and Trade for Africa’s Economic Development” – a public webinar held on Wednesday – targeted opportunities for cross-border collaboration between Africa and Germany.

The African Export-Import Bank announced its plans to sign a Memorandum of Understanding with German car manufacturers to establish an automotive industry in Africa; the Germany-Africa Business Forum (GABF), Africa Oil & Power and the African Energy Chamber co-hosted the webinar, as part of a GABF cooperation-focused series.

The Germany-Africa Business Forum (GABF) hosted the second installment of its German-African cooperation-focused webinar series on Wednesday, aimed at outlining the opportunities for sustainable FDI between Germany and the African continent.

The panel comprised: Günter Nooke, Africa Envoy to German Chancellor Angela Merkel; NJ Ayuk, Executive Chairman of the African Energy Chamber; and Rene Awambeng, Global Head Client Relationship at the African Export-Import Bank (Afreximbank).

Anchored by the theme of investment and trade for African economic development, the opening keynote was delivered by Nooke, and outlined four key success factors in driving Africa’s economic development: investment and business climate, transport, energy and technological infrastructure, available workforce, and access to markets.

Digitalization and green energy were advanced as two of the critical sectors for facilitating Africa’s economic and social development. Africa contains a young, tech-savvy population, noted Nooke, translating to smooth technological adoption and enhanced opportunities for both consumers and businesses.

Highlighting efforts to expand global market reach, Nooke noted the anticipated benefits of the recently adopted African Continental Free Trade Agreement, signed by 53 African countries and already implemented by 30. The agreement is set to boost intra-African trade, with the ultimate objective of creating a common market that empowers African nations.

Meanwhile, cross-border developments in clean energy have already been progressing. This month, a German delegation visited the Democratic Republic of Congo to study opportunities related to the Inga III hydroelectric dam project. Germany is eyeing major opportunities for hydrogen production, a clean fuel alternative, as well as wind, solar and hydropower resources scattered across the continent.

Germany is currently active in a range of investments across the continent. The European leader played a major role in securing a $300 million facility from the United Nations Economic Commission for Africa. The funds are aimed at creating jobs, reviving economies in a post-COVID-19 environment, and encouraging investment reforms to boost FDI.

Furthermore, Afreximbank will imminently announce the signature of a Memorandum of Understanding with German automotive manufacturers, such as Volkswagen, intended to create an African-driven automobile manufacturing strategy.

“We are looking to create a holistic approach to automotive manufacturing,” said Rene Awambeng. “Our goal is to build an entire value chain, with the support of Germany and Europe, in order to be able to design, build and market cars across Africa.”

In a bid to drive investor engagement in a variety of sectors, NJ Ayuk called for a change in the perception of risk associated with investing in Africa.

“We need to create an enabling environment for banks, financial institutions and investors to perceive Africa as a safe and profitable destination,” said Ayuk. “Rwanda paved the way and we have seen outstanding results. We have an obligation to make the change.”

Ayuk also appealed to Europeans nations, such as Germany, to focus on investment rather than aid. Investment enables the creation of synergies and partnerships and places project leaders in a position of accountability. While aid is welcome in periods of crisis, noted Ayuk, it must not be the standard for sustainable, long-term business.

Awambeng underscored that long-term, affordable financing is available for Africa’s investment opportunities, combined with technical capacities and business support.

“Huge amounts of capital are available across the continent in all forms: equity, bank debt, development financial institutions, sovereign funds, among others. All we are missing are the people to make the transition happen.”

Ernest Chemist: a leader in a growing pharmaceutical industry

September 26, 2020

Ernest Chemests — Photo: The Founder and CEO of the company, Ernest Bediako Sampong,

Ernest Chemists Limited (ECL), having been adjudged the Number 1 Pharmaceutical Company at the recent Ghana Pharma Awards looks forward to a promising future.

The Founder and CEO of the company, Ernest Bediako Sampong, a Pharmacist by profession was also recognized at the same event for his tremendous contribution and impact on the Pharmaceutical industry. In recent past, has been adjudged the Outstanding Entrepreneur Personality of the Decade, 2010-2020 (Entrepreneurs Foundation of Ghana), Man of the Year 2020 (EMY Africa Awards) and the Number 1 CEO in the Pharmaceutical Industry 2020 (Ghana Pharma Awards).

With these recognitions and awards, the company is poised to complete and go live with its current investment in the construction of a new European Union Good Manufacturing Practices (EU GMP) factory.

This facility upon completion will be among the State of the Art within the Pharmaceutical Industry in West Africa and beyond. The expected output and generation from this facility are estimated around 300 percent of the current.

In addition to the already existing pharmaceutical products lines being manufactured by Ernest Chemists Limited, this new EU GMP factory will manufacture Non-Oral Liquids such as Large Volume Parenteral (infusions), Small Volume Parenteral (Ophthalmic & Nasal Preparations) and Injectables.

The strategic objective of this new factory is to help create employment as well as serve the pharmaceutical needs of Ghanaians and other neighbouring countries without relying heavily on imported products. It also looks forward to partner with other multinational brands in contract manufacturing geared towards its mantra of “Providing Quality and Affordable Medicines.”

With an extensive network of distribution channels as well as warehouse facilities nationwide and beyond, Ernest Chemists Limited ensures that quality and affordable medicines are accessible to all. With this brand promise of “Providing Quality and Affordable Medicines”, the Directors drive the vision to ensure that, the ECL brand delivers on its promise.

This has been achieved through the development of a visible strategic brand that serves all segments of the market/society in an ultra-modern one-stop-shop. The ambience, layout and well-labelled product sections of the retails allows customers to move around freely and find products easily.

Some product sections include Prescription and Over the Counter (OTC), Dental Care, Health & Wellness, Vegan, Baby Care, Children’s Health, Lifestyle, Beauty & Skincare, Cosmetics, Men’s Personal care and household items.

Ernest Chemists retails have also, value-added services such as free blood pressure and Body Mass Index (BMI) screening, other medical screenings and free delivery services within defined areas within the metropolis. Ernest Chemists’ professional Pharmacists are always available to offer medical advice, medication counselling and a helping hand.

ECL which is a wholly-owned Ghanaian company, started as a sole proprietorship by the Founder and Chief Executive Officer, Ernest Bediako Sampong, a Pharmacist by profession and an impeccable entrepreneur in 1986. With his persistence and determination, ECL became a limited liability company in 1993. During this period, ECL imported and distributed pharmaceutical and healthcare products.

The Founder and Chief Executive Officer with over 30 years’ entrepreneurial experience, ventured into Pharmaceutical Manufacturing in the year 2001, in order to diversify Ernest Chemists Limited into 3 main divisions – Manufacturing, Trading (Retailing & Distribution) and Exports.

It has therefore over the years, partnered reputable Multinational Companies such as GlaxoSmithKline (GSK), AstraZeneca, Roche, Novartis, Unilever (Europe), Danone, Avent (Philips), Johnson & Johnson, Merck, Exeter Pharmaceuticals among others, either as a distributor, contract manufacturer or packaging of their products.

In line with the vision and strategic direction, Ernest Chemists Limited is committed to contributing to the growth of the pharmaceutical industry in Africa and helping to improve health care delivery in Ghana by supporting worthy courses.

Recent philanthropic support had been among other things, a donation to the COVID-19 Trust Fund, donations to COVID-19 isolation facilities at the Greater Accra Regional Hospital (Ridge Hospital), Tema General Hospital and other health facilities including Kwahu Atibie Hospital, Tamale Teaching Hospital, Volta Regional Health Directorate and Margaret Marquart Catholic Hospital.

Priscilla Adjei’s thoughts: Pharmacovigilance in Ghana’s Pharmacy Industry

September 26, 2020

Priscilla Adjei (Mrs) — Photo: Priscilla Adjei (Mrs.), Pharmacist

– notes from a Medifem Hospital pharmacist

Sometimes at the hospital, patients reject prescribed medicines citing past undesirable experiences with it. Adverse reactions to drugs and the need to ensure drugs are dispensed and taken in a safe manner have emerged strongly as key issues in promoting patient safety in healthcare practice.

This has given birth to a distinct discipline within Pharmacy practice known as Pharmacovigilance.

Pharmacovigilance (PV or PhV), also known as drug safety, is the pharmacological science relating to the collection, detection, assessment, monitoring, and prevention of adverse effects with pharmaceutical products. The etymological roots for the word “pharmacovigilance” are pharmakon (Greek for drug) and vigilare (Latin for to keep watch).

As a discipline that began some 170 years ago, pharmacovigilance primarily seeks to address two things;

identify new information about hazards associated with medicines
Prevent harm to patients.

THE PROCESS & ITS OUTCOMES

To ensure that information about drugs are accurately collected for documentation, reporting and evaluation, data management is key. The steps in safety data management are;

Data collection and verification.
Coding of adverse reaction descriptions.
Coding of drugs.
Case causality assessment.
Timely reporting to authorities

Beyond identifying new information about hazards and preventing harm, the process also seeks to;

improve patient care and safety in relation to the use of medicines and all medical and para-medical interventions.
drive the research of the efficacy of drugs by monitoring adverse effects right from the lab to the pharmacy and then on for many years.
keep track of any drastic effects of drugs.
improve public health and safety in relation to the use of medicines.
contribute to the assessment of benefit, harm, effectiveness and risk of medicines, encouraging their safe, rational and more effective (including cost-effective) use.
promote understanding, education and clinical training in effective communication on drugs to the public

SUB-SPECIALTIES

Pharmacovigilance is a huge and encompassing discipline but can broadly be divided into three sub-specialisms:

Operations:

This sector is where many pharmacists/drug professionals interested in drug safety jobs begin their career. Typical jobs within drug safety operations include case processor, drug safety officer/associate and drug safety manager, and of course team lead and directorships. These professionals will collect and record information during preclinical development and clinical trials, in addition to gathering real-world evidence (RWE) of adverse events reported by doctors and patients. Operations are also usually responsible for creating standard operating procedures (SOPs), individual case study reports, literature screening and regulatory expedited reporting.

Surveillance:

Professionals who focus more on surveillance tend to look towards risk management and signal detection jobs. These professionals perform analysis on the drug safety information gathered by the operations people and assist with the creation and review of aggregate reports. They also create development safety update reports (DSURs) for drugs in clinical research and periodic benefit-risk evaluation reports (PBRER) for post-market drugs. These reports ultimately help the manufacturers, scientist and Doctors to draw conclusions around the safety and efficacy of a drug.

Systems:

This division is concerned with the building and ongoing development of a fully robust and innovative system, charged with the responsibility for housing and allowing access (in various forms) to vast quantities of safety data. This safety data is usually collated by those working in operationally focused roles but is accessed by all. The systems division is constantly having to improve, and stay in line with, changing regulations and requirements for the business/ health authorities, making this a very challenging and vital aspect of drug safety roles.

INTEGRATING PhV AT MEDIFEM

In line with promoting optimum patient safety, the Pharmacy Department of the Medifem Multi-Specialist Hospital and Fertility Centre at Westlands, Accra, has as part of its broader Standard Operating Procedure, adopted certain practices to entrench Pharmacovigilance.

In the pharmacy at Medifem, documentation is one of the priorities so various classes of documents have been developed to ensure proper data-keeping. The aim is to have an ongoing robust safety data system that allows us to know the key issues and for us to be able to track specific patient concerns and report them for drug manufacturers, suppliers, doctors and other professionals in the drug-value chain.

The Adverse Drug Reaction (ADR) Book is a book dedicated to documenting all adverse reactions reported by patients. A follow up is done to get the record stated in the patient’s history to inform any future decisions by prescribers concerning the use of the medications involved in the incident.

Medications of patients on the wards are well documented and the same made readily available for cross-checking with Doctors and Nurses in the event of a reported adverse reaction.

For outpatients, prescriptions are well screened to get the diagnosis and to assess the medications in order to detect and prevent any disease-drug interaction or drug-drug interaction.

Key to our Pharmacovigilance practice here is our dedication to work with regulatory bodies, namely the Food and Drugs Authority, Ghana and manufacturers in providing data that informs statistics, trends, improvements, innovations and new initiatives. As we look to an even more enhanced drug dispensing and safety regime, continuous professional pharmacovigilance training for our pharmacy staff is a key area in focus.

WHAT ARE THE NEW TRENDS FOR THE FUTURE?

Outsourcing to drive operational efficiency

Specialised outsourcing in pharmacovigilance is becoming a widely used approach to coping with the growing costs of maintaining a highly qualified and trained pharmacovigilance team in-house.

Lately, more and more companies are outsourcing their pharmacovigilance tasks to achieve better regulatory compliance, higher quality, better productivity, and improved strategic decisions.

Use of Secondary Data sources that contributes to early detection of safety concerns

In the last years, the number of secondary data sources has been growing continuously and it currently includes:

Social media;
Clinical data and electronic health records;
Claims files;
Regulatory reports and filings from different areas;

Secondary data sources present unique challenges in terms of acquisition and integration with “classic” data sets. Usage of secondary data by pharmaceuticals is, as of today, just at the initial stage considering also that it is not required from the regulatory point of view.

Recently, technology providers have started offering robust and flexible platforms that help healthcare companies and manufacturers handle and integrate a wide range of file types and incorporate social media streams in their pharmacovigilance processes. Advanced algorithms and disproportionality analysis are already being expanded to include not only classical spontaneous reporting but also social media streams.

The secondary data sources together with advanced signal detection technologies help early detection of safety risks and allow to take risk minimisation measures more rapidly.

Cloud-based reporting to bring a robust global database of adverse events

Many industries are now benefiting from the ability to store and analyse huge amounts of data in the cloud. As the number of data sources grow, healthcare companies face the urgent need to optimise the intake, storage and analysis of big volumes of data.

Big Data to protect and assimilate a huge amount of information

Novel sources of real-world evidence and experimental data in digital form have become available also to pharmacovigilance professionals.

In pharmacovigilance, big data include such sources as:

Signal detection;
Substantiation and validation of drug or vaccine safety signals;
Online channels and social media.

Due to its complexity, big data represent both an opportunity and a challenge. With the support of technology solutions with advanced computing capabilities, healthcare companies use big data to monitor and study drug safety in a more effective manner.

Data analytics to drive actionable insights

The effective management of safety data stored across multiple platforms is vital for a clear understanding of safety events. Manufacturing companies and healthcare professionals are striving to uncover new patterns, unknown correlations, trends, and patient preferences that can help them to ensure patients’ safety more effectively.

Nowadays, pharmacovigilance analytics provide a real opportunity to harness data effectively, ensure regulatory compliance and drive actionable insights.

As regulatory bodies especially the FDA introduce new tools to collect and evaluate adverse effects of drugs, it is imperative on practitioners to themselves institute measures within their Pharmacy/Pharmaceutical units to complement these efforts.

The writer is Pharmacist and Head of Pharmacy at the Medifem Multi-Specialist Hospital & Fertility Centre, Westlands, Accra.

PHASE THREE: GES, Zoomlion disinfect 140 high schools in Eastern Region

September 26, 2020

Disinfection of schools — Zoomlion truck carrying out the disinfection exercise at one of the schools

In line with President Nana Addo Dankwa Akufo-Addo’s directive for senior high schools (SHSs) to be disinfected before re-opening next month for continuing students, the Ministry of Education (MoE) and Ghana Education Service in collaboration with Zoomlion Ghana Limited (ZGL) have begun the third phase of disinfection in secondary schools in the Eastern Region.

The exercise, which kick-started last Wednesday saw about 140 SHSs in the region being disinfected.

Speaking to the media, ZGL General Manager in charge of the Eastern Region, George Aguadze, explained that the exercise was crucial, following the President’s instruction for continuing students to return to school.

He added that it was also to make the institutions’ facilities safe for the students, teaching and non-teaching staff members, especially when the final-year students had exited.

Mr Aguadze revealed that his outfit had deployed over 400 spraying gangs to undertake the exercise, and will ensure strict professionalism. According to him, logistics deployment, mixing and application of chemicals had been executed in a professional manner by his officials, stating that they had enjoyed great collaboration from stakeholders.

He gave a firm assurance to parents and students in the region that Zoomlion will complete the exercise before the re-opening

He further assured parents and students that Zoomlion will complete the exercise before the re-opening date (Monday, October 5th, 2020).

“It was imperative to protect the lives of the students and staff members of the school, hence the need for the disinfection exercise before students return to campus,” he stressed.

For his part, the Headmaster of Ofori Panin SHS, John Kofi Beantey, indicated that enough measures had been put in place by the school’s authorities to receive the continuing students.

“We have placed Veronica buckets at vantage points and would also ensure that the students, staff (both teaching and non-teaching) members all observe social/physical distancing and also students put on their nose masks,” he said.

Against this backdrop, he reiterated that the school will strictly maintain discipline at the campus to prevent the spread of the COVID-19 epidemic.
“We will ensure that the school does not become a centre for spreading the coronavirus as the students return to school,” he firmly assured.

He also commended the government of Ghana for such imperative exercise.

“I really commend the government of Ghana for this exercise. The government has done what we were all not expecting but it’s been done smoothly.”
Some of the schools that were disinfected included Koforidua Senior Technical High School, Aburi Girls’ SHS, New Juaben SHS, among others.

2020 Mid-Year budget statement and economic policy review in retrospect

September 25, 2020

Gov’t to roll out six major expenditure cut measures — Ken Ofori-Atta is Finance Minister

Pursuant to the Public Financial Management Act of 2016, Act 921, Section 28; Standing Order 143 of Parliament; and Section 8 of Article 179 of the Republican Constitution, the Finance Minister, Ken Ofori-Atta, availed of himself to the good people of Ghana through Parliament to present the mid-year fiscal policy review of the 2020 budget statement and economic policy; and supplementary estimate as well as adequate measures put in place by the economic management team to get the national economy back on track.

The mid-year fiscal policy review focused on key sectors of the Ghanaian economy including health, agriculture, and education with a strong emphasis on COVID-19 and its devastating effects on the activities of young entrepreneurs, faith-based organisations, transportation, creative arts and media, agriculture, trade and industry, financial services, health, education, and the manufacturing industry.

Mr Ken Ofori-Atta noted the disruptive effect of COVID-19 on the global economy and affirmed the President Nana Akufo-Addo-led administration’s resolve to marshal the requisite financial and material resources to protect lives and preserve livelihoods in the midst of the pandemic.

The presentation highlighted essential government projects and initiatives, including but not limited to planting for food and jobs, one-district, one-factory, fish landing sites, inner-city and Zongo development, sanitation and water resources, infrastructure for poverty eradication programme (IPEP), livelihood empowerment against poverty (LEAP) programme, free senior high school (Free SHS), school feeding programme, railway sector development, construction of roads and other infrastructural facilities, development of the automobile industry; and the design, construction, equipping, and staffing of new district and regional hospitals in the respective districts and regions with none. The latter is envisaged to be implemented and constructed under President Nana Akufo-Addo’s “Agenda 111” initiative.

The Finance Minister outlined the macro-economic indicators of the Ghanaian economy as on 30^th June 2020. For instance, the nation’s gross domestic product (GDP) growth rate for the first quarter of 2020 was 4.9%. This was 1.8% less than the GDP growth rate recorded over the same period in 2019. Ghana’s inflation target in the medium term is 8±2%, and the inflation rate as at 30^th June 2020 was 11.2%. This was 0.6% shy of the 10.6% recorded earlier in April 2020, and a slight improvement over the 11.3% recorded in May 2020. However, the average inflation rate in August 2020 was 10.5%.

This is indicative of the country’s current journey towards economic recovery and eventual growth. The monetary policy rate witnessed 150 basis points reduction from 16% to 14.5%, the cash reserve requirement of deposit money banks (DMBs) was reduced by 2% (that is, from 10% to 8%) while capital adequacy ratio was reviewed from 13% to 11.5% to boost economic activities; and to ease liquidity challenges in the banking sub-sector.

Interest payments on 91-, 182-, and 364-day Treasury bills witnessed a significant decrease during the period. This reflected the underperformance of equities and other asset classes in the global capital markets during the period. Ghana’s fixed income bond market recorded a significant amount of GH¢45.6 billion at the end of June 2020. This represented about a 161% increase over the GH¢17.48 billion recorded during the same period in 2019.

The gross international reserves of about US$9.2 billion were equivalent to 4.3 months import cover, which was an improvement over the 4.0 months import cover recorded earlier in December 2019. Fiscal deficit as a percentage of GDP was 6.3%. This was about 2.03 times the targeted fiscal deficit of 3.1% during the period. Ghana’s primary account showed a deficit of 3.3%. This was about 266.67% more than the 0.9% deficit targeted at the end of the second quarter of 2020. The higher fiscal deficit was a reflection of significant shortfalls in taxes- and non-tax revenues relative to escalated COVID-19-induced expenditures.

Total revenues and grants targeted during the period were GH¢29.759 billion. However, the ravages of COVID-19 enabled the economy to meet about 74% (equivalent to GH¢22.022 billion) of the target. Total expenditures including arrears clearance were GH¢46.352 billion. This was 11.5% more than the total targeted expenditure of GH¢41.554 billion during the period. Preliminary data on total expenditures on financial sub-sector interventions during the period amounted to GH¢18.6 billion, equivalent to 4.8% of GDP. However, some figures released later estimated total expenditure on financial bailouts at GH¢21.7 billion.

As at June this year, the country’s total debt was estimated at GH¢258.373 billion, equivalent to 67% of GDP. Total payments of GH¢6.49 billion to depositors and clients of defunct three hundred and forty-seven (347) microfinance institutions (MFIs), twenty-three (23) savings and loans companies (S&LCs), and fifty (50) finance house or investment companies (FHCs) were announced in August 2020. Payments for claims commenced on 1^st September 2020. Payments are effected after claims have been validated by the Receiver and Official Liquidator.

The strategic importance of these payments at this time is their ability to ensure strong economic stimulation by making cash readily available to over one million claimants. The increased money supply is one of the recommended measures to wean a country off her liquidity trap fueled by external and internal economic shocks. The current liquidity challenge which has assumed a global dimension was occasioned by the predatory COVID-19 pandemic.

Global economic uncertainties coupled with national economic challenges have compelled downward review of Ghana’s growth target for 2020 from 6.8% through 2.5% and 1.5% to 0.9%. However, this compares favourably with the -2.1% and -5.1% projected by the World Bank for the African economy; and the 42% contraction rate predicted for the Chinese economy in 2020. In May, the Chinese government decided to abandon growth targets for the 2020 financial year. Stated differently, the Chinese government resolved not to set any growth target for 2020. Rather, President Xi Jinping-led administration is focused on how to encourage higher investment in the private sector; and how to increase consumption and exports to drive growth in the current financial year.

Indeed, the devastating effects of COVID-19 on the Ghanaian, African, and global economies have been dire. This notwithstanding, current managers of the Ghanaian economy are very optimistic; they have resolved to be tactful, diligent, and strategic in their adaption and implementation of measures that could stimulate and assure overall economic success during and after COVID-19.

The decision by President Nana Akufo-Addo’s administration to inject GH¢100 billion into the Ghanaian economy in the medium term through the COVID-19 Alleviation and Revitalisation of Enterprises Support (CARES) programme may be described aptly as an economic step in the right direction; it is intended to revive the economy and to chart the path of (strong) growth. These are strong attributes that could define the resounding accomplishments of the Ghanaian economy in the immediate- and medium-term; and beyond.

The concerted efforts of well-meaning Ghanaians towards the realisation of the foregoing objective are very paramount.

The writer is a Chartered Economist/Business Consultant

Emirates to resume flights to Johannesburg, Cape Town, Durban, Harare and Mauritius, boosting global network to 92 destinations

September 25, 2020

Emirates has announced it will resume flights to Johannesburg (1 October), Cape Town (1 October), Durban (4 October) in South Africa; Harare in Zimbabwe (1 October); and Mauritius (3 October).

The addition of the five points will expand the Emirates’ global network to 92 destinations, as the airline gradually resumes its operations while prioritising the safety of its customers, crew and the communities it serves around the world. Emirates’ African network will also now extend to 19 cities.

Customers flying in and out of Emirates’ three South African gateways can safely travel to Dubai and to an array of onwards connections in Europe, the Far East, Middle East, West Asia and Australasia. Flight schedules for Emirates’ South African destinations will be available on emirates.com later this week.

Emirates will operate to Harare with two weekly flights linked to its Lusaka service. The linked services will connect Zambia and Zimbabwe to key destinations across Europe, the Far East, the Americas, Australasia and West Asia with one convenient stop in Dubai.

Flights from Dubai to Mauritius will initially operate once a week on Saturdays, supporting the Mauritian government’s repatriation efforts to bring its citizens home, and enabling the recovery of the country’s tourism industry by safely connecting leisure travellers from Europe, the Far East and the Middle East to the popular Indian Ocean island destination.

Customers can stopover or travel to Dubai as the city has re-opened for international business and leisure visitors. Ensuring the safety of travellers, visitors, and the community, COVID-19 PCR tests are mandatory for all inbound and transit passengers arriving at Dubai (and the UAE), including UAE citizens, residents and tourists, irrespective of the country they are coming from.

Destination Dubai: From sun-soaked beaches and heritage activities to world-class hospitality and leisure facilities, Dubai is one of the most popular global destinations. In 2019, the city welcomed 16.7 million visitors and hosted hundreds of global meetings and exhibitions, as well as sports and entertainment events. Dubai was one of the world’s first cities to obtain Safe Travels stamp from the World Travel and Tourism Council (WTTC) – which endorses Dubai’s comprehensive and effective measures to ensure guest health and safety.

Flexibility and assurance: Emirates’ booking policies offer customers flexibility and confidence to plan their travel. Customers who purchase an EmiCrates ticket by 30 September 2020 for travel on or before 30 March 2021, can enjoy generous rebooking terms and options if they have to change their travel plans due to unexpected flight or travel restrictions relating to COVID-19, or when they book a Flex or Flex plus fare.

COVID-19 PCR testing: Emirates customers who require a COVID-19 PCR test certificate prior to departure from Dubai, can avail of special rates at the American Hospital and their satellite clinics across Dubai by simply presenting their ticket or boarding pass. Home or office testing is also available, with results in 48 hours.

Free, global cover for COVID-19 related costs: Customers can now travel with confidence, as Emirates has committed to cover COVID-19 related medical expenses, free of cost, should they be diagnosed with COVID-19 during their travel while they are away from home. This cover is immediately effective for customers flying on Emirates until 31 December 2020, and is valid for 31 days from the moment they fly the first sector of their journey. This means Emirates customers can continue to benefit from the added assurance of this cover, even if they travel onwards to another city after arriving at their Emirates destination. For more details:

Health and safety: Emirates has implemented a comprehensive set of measures at every step of the customer journey to ensure the safety of its customers and employees on the ground and in the air, including the distribution of complimentary hygiene kits containing masks, gloves, hand sanitiser and antibacterial wipes to all customers. For more information on these measures and the services available on each flight

Editorial 2: What a waste of scarce funds!

September 25, 2020

Every year, millions of cedis are paid as demurrage – fees importers pay for overstayed containers – to shipping lines.

Ghana Shippers’ Authority (GSA) consequently embarked on an educational drive to improve the situation, even though there has been some improvement, figures still remains high.

According to the GSA, from estimation research annually conducted, US$40 million was paid as demurrage in 2010, three years after that in 2013, the figure shot up to US$85 million, three years later in 2016, it further shot up to US$95 million.

GSA took a bold step to allocate resource to educate the general public and on ways to avoid the payment of demurrage as it is a charge very preventable.

Since then, from the high of US$95 million in 2016, demurrage dropped to US$76 million in 2017 and it further moved down to US$59 million in 2018 and saw a huge dip to US$27 million in 2019.

However, some shipping line managers have expressed scepticism with the official data, noting that despite the sharp drop, the figure is still high and developments at the ports this year could see the data go up due to rows and rows of containers that need to be cleared from the port but have not been, impeding the flow of their business.

Some of the shipping lines blame state institutions as major culprits- ie. -Ministries, Departments and Agencies. It is estimated that out of the US$27 million paid as demurrage in 2019, 60-70 percent was paid by state institutions.

Government agencies need to get their act together. The shipping lines acknowledge that they are global organizations that deal with different states and they note that other countries don’t act in this manner.

Immediately we dock, and the goods are out; it is cleared from the port and we get our containers, they told this paper on the condition of anonymity.

But here in Ghana, goods that were imported by state institutions stay at the port for over 100 days, for some years, accruing demurrage and because it is government money used in paying, it seems no one cares. They use taxpayers’ money to come and pay for demurrage and get their goods. Sometimes the demurrage amounts are outrageous, the shippers complain.

Then it means that the GSA’s educational drive is not yielding the expected results, so we urge them to extend that service to state institutions as well.

Gov’t empowers 2.5m youth

September 25, 2020

Six government youth agencies and programmes over the past three and half years have provided entrepreneurial support and empowerment to more than 2.5 million Ghanaian youth.

The agencies are the National Youth Authority (NYA), the Youth Employment Agency (YEA), the Nation Builders Corps (NaBCo), the National Board for Small Scale Industries (NBSSI), the National Service Scheme (NSS) and the National Entrepreneurship and Innovation Plan (NEIP).

This came to light when the Chief Executives and Executive Directors of the six institutions rendered account of their stewardship at the maiden Nation Building Updates held in Accra, on the theme, “Leadership that delivers for the Youth”.

The support ranged from entrepreneurial skills training, training in information communication technology and online marketing, funding to expand micro, small and medium scale businesses and payment of monthly stipends to cushion them as they underwent various training programmes.

Mr Justin Kudua Frimpong, Chief Executive Officer of the YEA, in his presentation, said it had engaged 143,953 youth under its 14 modules in the last three and half years.

The Agency, he said, was established to provide employment opportunities for the Ghanaian youth with the objective of alleviating poverty.

Currently, a total of 1,000 young professional footballers under the Youth in Elite Sports were being paid GHc500 monthly stipend each.

Mr. Kodua Frimpong indicated that headcount and electronic validation conducted upon assumption of office in 2017, helped to save the nation GHS82.5 million after about 18,000 nonexistent beneficiaries were taken out of the Agency’s payroll.

Dr. Ibrahim Anyars, CEO of the Nation Builders Corps, said about 180,000 graduates applied for NaBCo employment, but the Agency was able to employ 100,000 of them and were deployed to the various government ministries, departments and agencies as well as private institutions.

He said after a successful implementation of the programme, it would commence transitioning them into permanent employment as the Scheme approaches its second anniversary.

For her part, Executive Director of the NBSSI, Mrs. Kosi Yankey-Ayeh, said the institution had increased its funding from GHS19,000 in 2017 to one billion Ghana cedis within three and a half years.

The funds, she said, allowed it to disburse loans to micro, small and medium scale enterprises for expansion.

Mrs Yankey-Ayeh said it had disbursed funds ranging from GHS2,000 to GHc100,000 to 200,000 businesses through the COVID-19 Alleviation Programme (CAP) Business Support Scheme, an initiative meant to deal with the social and economic impact of the pandemic.

She further explained that through key government interventions, the NBSSI had substantially reduced the unemployment rate and maximised the contribution of businesses towards the country’s socio-economic development.

According to her, 21,000 new jobs and 14,000 new businesses had been created and 4,500 businesses were diversified, while 37 Business Resource Centres and 185 Business Advisory Centres were established to offer technical advice to entrepreneurs.

Mr John Kumah, CEO of the NEIP, in a presentation, said the government had supported 9,350 businesses financially to make them competitive.

In addition, it had trained 10,000 students under the Student Entrepreneurship initiative and supporting 30 innovative entrepreneurs with financial assistance between GHS2,000 and GHS10,000 under the Presidential Pitch programme.

Mr Sylvester Mensah Tetteh, CEO of the NYA, said the government had trained 300 young people on Online Digital Marketing and entrepreneurship programme and a further 5,000 were given skills development in youth entrepreneurship.

Mr Mustapha Ussif, Executive Director of the NSS, said the Scheme had introduced online registration, which had reduced the chaotic nature of registering prospective service personnel to their respective postings.

The Scheme, he said, had rejuvenated its Borehole Drilling Unit, drilling 130 boreholes so far for various communities nationwide, while plans were far advanced to commission its bottling plant by the end of October 2020.

GNA

Editorial: GCAA bounces back to life with high expectations

September 25, 2020

The newly appointed Director-General of the GCAA Charles Kraikue is confident that the aviation sector is bouncing back quickly after the opening of the air borders on September 1 as an appreciable number of airlines have begun operations.

Data from the Ghana Airport Company Limited (GACL) reveal that 16 out of the over 30 airlines that operated in Ghana before the closure has begun operations.

Mr. Kraikue observed that although the aviation sector has been hit very hard, both operationally and financially, he told the GCAA board during his swearing-in ceremony this week that his first and immediate task is to navigate the sector out of this unimaginable crisis.

The GCAA and the GACL are part of seven State-Owned Enterprises currently benefiting from a GH¢312 million fund set up by the Consolidated Bank Ghana (CBG) to stabilize operations, especially pay workers’ remuneration as the Coronavirus has impacted their finances adversely.

Under the previous leadership of Mr. Allotey, the country’s aviation industry recorded phenomenal growth, with a thriving domestic sector and over 35 international airlines serving Ghana. The country also attained an Effective Implementation (EI) score of 89.89%, the highest by an African country at the time, after ICAO concluded its safety audit in April.

Mr. Kraikue really faces an uphill task following months of inactivity at KIA but he assures that he will work assiduously with the GCAA board to make KIA become the best in Africa to which we wish him the best of luck.

Making Ghana a regional and international aviation hub was one of President Akufo- Addo’s objectives upon taking office in 2017.

Kotoka International Airport was ranked number one in 2019 for airports receiving between 2 million and 5 million passengers by the Airports Council International, winning the Airport Service Quality Award.

2019 brought large numbers of African-Americans, including many celebrities, as well as others from the diaspora to celebrate the Year of Return. Sadly, that could not be replicated this year because of the outbreak of the pandemic that has seen no activity for almost six months.

The Ghana Civil Aviation Authority (GCCA) revealed that it has lost nearly 95 percent of its revenue income due to the novel Coronavirus inflicted ban on foreign travel. According to IATA, revenues are expected to fall some 50% to US$419 billion from US$838 billion in 2019.

COVID-19 Private Sector Global Facility initiative to help communities recover better

September 25, 2020

The United Nations Development Programme (UNDP), the United Nations Global Compact (UN Global Compact) and the International Chamber of Commerce (ICC) have established the COVID-19 Private Sector Global Facility, a global initiative and collaboration bringing together public and private sector partners to help local communities recover better from the pandemic.

Deutsche Post DHL Group, Microsoft Corp. and the PwC network have already joined the COVID-19 Private Sector Global Facility, and the initiative is open for other like-minded private sector organizations that want to contribute.

The Global Facility is a response to corporate calls to action for private sector leaders and governments to work together to address the negative impacts of the coronavirus pandemic. The initiative has been established to better coordinate their responses, helping to ensure that immediate stimulus efforts flow into the real economy.

The Global Facility will operate at both the global and national levels. It aims to co-create solutions that are tailored to the phase of the COVID-19 pandemic in a given area and the specificities of the local private sector and government context. Guided by the UN Global Compact’s Ten Principles and the Sustainable Development Goals, the Facility will support a multisectoral, whole-of-government and whole-of-society approach to face the multidimensional nature of the crisis. Recovery efforts will focus on how to rebuild more inclusive economies and societies, to set a new course for a socially just, low-carbon and climate-resilient world where no one is left behind.

Initial projects will focus on the countries of Colombia, Ghana, the Philippines and Turkey. Both the geographical scope and participating partners will expand as the Global Facility develops.

“Solidarity to ‘Recover Better Together’ can boost our collective efforts not only to cope with the crisis but overcome it. UNDP’s footprint across some 170 countries and territories, combined with the UN Global Compact’s network of more than 10,000 companies and 68 Local Networks around the world, and the International Chamber of Commerce’s network of over 45 million companies, multiplies our collective capacity and potential. The Facility is the first of its kind – designed to join forces across public and private sectors to serve humanity in an imperative moment,” said UNDP Administrator, Mr. Achim Steiner.

The COVID-19 Private Sector Global Facility was announced by Mr. Steiner at the SDG Business Forum during the UN General Assembly, the largest and most inclusive UN convening of private sector leaders. Launched under the motto “Recover Better Together”, the timing of this initiative has special importance, marking the commemoration of some important UN-related milestones: the 75th anniversary of the founding of the United Nations; the 20th anniversary of the establishment of the Global Compact; and the Centenary of ICC’s founding after WWI at a time when multilateralism is facing the greatest challenge of its generation.

“Results from our recent COVID-19 Business Tracker survey suggested that the pandemic had great impacts on Ghanaian businesses, forcing many firms to cut costs by reducing staff hours, lowering wages, and even laying off workers. Ghana’s selection to be one of the initial four countries to benefit from the partnership is great news for us as we believe this will complement ongoing efforts to support businesses to build back better”, stated Silke Hollander, Deputy Resident Representative of UNDP Ghana.

In order to effectively reach the most vulnerable in the most efficient ways, the facility aims to expand the list of strategic partners. Organizations that want to play a leading role in the global pandemic recovery and join this call to action are encouraged to contact the UNDP project coordinator at [email protected] for a discussion on how they can get involved.

Bad debt and its VAT implications

September 25, 2020

For most organizations, the issue of bad debt is bad news so they spend less time considering the VAT implications of the bad debt. The focus of this article is to look at the bad debt impact on standard rate scheme operators.

The general procedure is that, in order to claim the Output VAT on sales that has gone “bad”, the VAT should have been paid to the GRA by the seller at the point of sale and the debt written off from the books of the business.

What constitutes a bad debt

Bad debt is simply a debt that cannot be recovered. It occurs when sales are made to customers on credit but for some reasons, the customer is unable to pay for the goods or services supplied.

Businesses that operate ¨cash and carry¨ are less likely to record bad debt but for those who sell on credit, the probability of a customer not paying for goods or services supplied exist. Whiles sale on credit is inevitable because customers prefer to do business with those who provide flexible payment terms, an entity can incur huge sums of VAT that has been paid to the GRA but the amount was not received from the customer.

Occasionally, when VAT has been paid to GRA but the customers fail to pay, it may result in bad debt. This often creates a huge VAT implication for businesses.

VAT and Credit Sales.

VAT is a consumption tax and businesses are mainly the appointing agents through which the VAT is collected and paid to the government. The VAT law has an established mechanism for businesses to account for the VAT collected. The most popular method is the standard rate invoice-credit mechanism where the amount payable as VAT by entities is the VAT collected on sales (Output VAT) less allowable deduction on purchases (Input VAT).

The system or mechanism for accounting for VAT is such that immediately sale takes place, VAT must be paid to the GRA within 30 days. Thus the rules are designed to ensure timely payment of VAT without waiting for the buyer to pay for the goods or services supplied, especially when payment terms are given. Payment of VAT charged to GRA, ahead of the expected receipt of the cash amount from customers is a normal aspect of VAT administration throughout the world.

When there is credit sale and the customer has not paid for the VAT, yet the VAT law requires that the amount of VAT charged should be paid within 30 days, this will create cash flow problems. The business must therefore look for money elsewhere to pay for the VAT. Critics argue that this aspect of VAT seems unfair since the business is just an agent for collecting VAT on behalf of the government and if money must be borrowed at a cost to pay for VAT when there is credit sales, the business ends up incurring additional cost. On the other hand, when there is cash sales the entity gets to use the tax paid for it operation for at least one month for free before paying the VAT to the government.

Credit sales being an inevitable part of the business comes with its own VAT implications since the seller is required to pay the output VAT to the GRA and the buyer on the other hand also claims the same amount as input VAT from the GRA, when then the buyer has not necessarily paid for the goods or services in question.

Where the buyer fails to pay the whole or part of the invoice amount (including the VAT charged), the seller may write off the debt as bad. This will result in a loss in sales revenue. But the real implications of bad debts on a firm is not only a loss in sales revenue but a further loss in Output VAT already paid to the government.

Value Added Tax 2013, Act (870) and its Provisions on Bad Debts

Since the output VAT has been paid by the seller in anticipation that the customer will eventually pay for the goods supplied, the GRA must refund the output VAT paid because the customer was unable to pay for the invoices. However, the rules are not as straight forward. Even when the seller loses revenue in addition to the VAT paid to GRA, logically, the equivalent of the tax paid to GRA should be refunded without any conditions attached, after all the seller is just an agent who collects the VAT on behalf of GRA and should not be made to suffer twice. However, the VAT rules are very specific with regards to this issue. The VAT law provides allowances for the equivalent VAT paid in a limited circumstance.

The rules regarding bad debt and VAT depends on two major pillars.

Whether the buyer is a taxable person or not and
Whether the seller is entitled to input VAT credit.

Due to the above conditions in the law, bad debt really presents a different problem when payment is not received from the customer.

Section 46 of Value Added Tax 2013, Act (870)-Adjustment on account of bad debts.

46 of the Value Added Tax 2013, Act (870) provides as follows:

Where a taxable person issues a tax invoice for the supply of taxable goods or services and the supply was not received by the taxable person, the taxable person may deduct input tax under section 48 for tax paid in respect of the taxable supply that is subsequently treated as a bad debt.
Subject to subsection (5), the amount of deduction allowed under subsection (1), is the amount of the tax paid in respect of the taxable supply which corresponds to the amount of the debt treated as bad debt.
The deduction under subsection (2)
becomes due on the date on which the bad debt was written off in the accounts of the taxable person; and
Is available only if the taxable person satisfies the Commissioner-General that reasonable efforts have been made to recover the amounts due and payable.
Where an amount in respect of which a deduction has been allowed in accordance with Subsection (2) is at any time wholly or partly recovered by a taxable person, the taxable person is regarded as having charged tax in respect of a taxable supply made during the tax recovered, with the amount of tax calculated according to the following formula: (A * B)/C where,

(a) A is the amount allowed as a deduction under subsection (2);

(b) B is the amount of the bad debt recovered; and

(c) C is the amount of the bad debt previously written off.

A deduction is allowed under subsection (2) only if
The taxable supply was made to a person other than a taxable person; or
The taxable supply was made to a taxable person and the person claiming the deduction under subsection (2) issued a tax credit note to the taxable purchaser listing the amount claimed under subsection (2).

Implications of the Tax Laws

Section 46 makes provision for allowance in the form of input VAT but under strict conditions.

The equivalent of the bad debt which represents the VAT is refunded in the form of INPUT VAT under section 48 of the VAT Act.
This refund is only granted when the bad debt is written off in the books of the seller.
The Commissioner-General must be satisfied that some efforts were taken to collect the mount. Section 46(3)(b) provides that the refund in the form of input VAT is available only if there are evidence submitted to the satisfaction of the Commissioner-General that reasonable effort has been made to recover the amount but to no avail. The requirement of the Commissioner-General being satisfied present a much bigger burden on the seller. Additional rules are provided under Regulations 50 of the Value Added Tax Regulations, 2016 (L.I 2243). Regulations 50 provides that, a debt shall be considered irrecoverable where a taxable person satisfies the Commissioner-General of the following:

a) The taxable person must have undertaken action for recovery of the debt;
b) The action for the recovery has exhaustively proven futile; and
c) The taxable person has made all the necessary entries in the books of account.

When the bad debt is recovered, the VAT must be recharged and accounted for in the month when the bad debt was recovered.
Finally, the most important condition is provided for in Section 46(5).

The refund in the form of input VAT is allowed only if two conditions are satisfied:

The sale was made to e.g, an individual (non-taxable person).
The sale was made to a taxable person (registered VAT entity purchaser) and the seller had issued a tax credit note to the purchaser listing the amount claimed as input VAT

Conclusion

The general practice is that most companies do not take into consideration the VAT implications when debts are declared bad and written off. Bad debt is a loss of revenue and

further loss in output VAT when the necessary steps are not taken to recover the VAT paid to the GRA. Most businesses do not pay any attention to the further loss in output VAT hence basing the decision to write off bad debts on the mere loss of sales revenue. It is recommended that accountants and tax experts take steps to recover VAT paid on bad debts especially when the amount written off is huge. Bad debt write off decisions should consider the VAT implications.

The Writer is an Associate Tax Consultant at MTC

Tel: 0241426948

Email: [email protected]

Kodwo Manuel’s thoughts: Supporting your experience digitally

September 25, 2020

– Leverage technology to enhance your customer relationships

There is no one-size-fits-all approach to planning any strategy. The key elements recognizable in strategy though will generally represent a commitment to direction, consistency, concentration, and flexibility.

This will lead any business to birth what ultimately becomes the blueprint to trigger a move from obscurity to prominence. Strategic direction includes the plans and actions needed to work toward the vision of the future for the organization. Consistency in strategy depicts a fixation over time and advised changes in magnitude and direction at different points in time. Concentration is where a business focuses on a single market or product enabling it to invest more resources in an identified area. Flexibility is the ability to identify major shifts in the external environment and quickly commit resources to a new course of action.

Put simply, an improved customer experience depends largely on consistency in the development and deployment of seamless and integrated technology systems. The contrast to this would be to rely on piecemeal silos which hardly deliver the kind of unified experience the customer seeks. An example of a poor experience would be to fill out a form online and lose the trail on deciding to continue the process on your mobile phone. Today’s technology innovations focus on the following key thrusts, customer acquisition, retention, and experience.

Therefore, leveraging technology to grow your business and to gain market prominence through differentiated experiences is the way forward. Getting your digital strategy on track to improve your experience is the new quest! According to research, 79% of CEOs in banking, insurance, and fintech believe that customer expectations are shaped by “hyper-relevant, real-time and dynamic experiences encountered across the industry”. New digital technologies have become pivotal in influencing customer behaviour and in particular contributed significantly to customer experience in the banking sector as a consequence of the covid19 pandemic.

Digital customer engagement in the ‘new normal’

Pentacle, a virtual business school founded by Professor Eddie Obeng, and based in the UK, pioneered the model of a New World emerging some 19 years ago. At the time it seemed a distant reality. In their assertion, they claimed a change in business rules where change was happening faster than the rate of learning. In the ‘Old World’ learning had a long shelf life thus knowledge was relevant for a long period of time. However, to survive in this ‘New World’ one has to acquire a culture of continuous learning to cope with the challenges posed by consistent change relying on evolving learning strategies. It would appear that even though the process had already begun the covid19 pandemic has snowballed this long-anticipated change. One key take from this New World paradigm shift is the ‘12 new rules’. For the sake of limited time and space I will refer to only 2 of these namely; ‘to re-invent your information. Stay digital in cyberspace …. the other is to go virtual’. Consequently, businesses must optimize their channels and be flexible to adopt changes quickly. The need to adopt eCommerce to gain a competitive edge against traditional brick-and-mortar stores has become imperative. Businesses will now thrive better on a digital foundation.

Managing the digital agenda

Digital platforms for Customer Experience as a strategy present limitless opportunities for companies looking to significantly improve their touchpoints. ECommerce in all its ramifications, ranging from digital customer tracking through to customer relationship management (CRM), is permanently changing sales strategies and structures. Although customer experience often also includes offline experiences, customers are significantly influenced by what they experience in the digital landscape, because they are constantly online with mobile devices. The mobile overdraft app in Kenya M-PESA is a case in point of how the use of digital platforms has improved customer experience and growing interest in digital solutions. Prof. Dr. Robert Daubner, a sales expert at Horváth & Partners says, “Transparency in digital media forces companies to adopt a critical approach to their own subjects and products”. According to him, it brings them closer to customers in very unique ways. “Those who successfully create a feeling of emotional connection between consumers and products through authentic communication, lend a high degree of authenticity and credibility to their customer relationships.”

That digital content strategy has become an imperative goes without saying. Websites must offer the highest degree of interaction by offering great usability to the average customer. What is noteworthy is that the process of eliciting requirements for websites must be pursued professionally to ensure that outcomes are fit for purpose.

The key requirement here is to mirror traditional processes yet focus on the dynamism required to leverage the opportunities to address business needs with the customer as the main focus. This calls for a holistic approach to enable the business to make all the right calls. If the internal culture is right employees will freely participate in the process of gathering and structuring of information for the deployment of digital touchpoints. In reaction to the disruptions caused by the covid19 pandemic, many local banks and corporates have quickly evolved their digital strategies to address key processes with the sole aim of reducing physical transactions to the barest minimum.

So team meetings are held on Zoom, Microsoft Teams, and other virtual media as part of social distancing strategies. Some banks champion data free campaigns enabling their patrons to open their Apps without additional data costs. Also noteworthy is the freezing of charges by the banks for using their ATM systems, a practice known to have been adopted by telecoms on interoperable transactions. Processes such as account opening, internet banking and the use of social media platforms to communicate have added value to the management of touchpoints and ultimately made life easier for service users.

Consummating the Digital Customer Experience

Digital Customer Experience comprises 4 key elements namely, the digital customer journey, user experience, touchpoint management, and omnichannel management. To leverage digital platforms companies will need to make these elements the key focus of their change projects. Companies have found ways of focusing on the digital habits of their customers as a precursor to applying new digital opportunities in a targeted manner. By familiarizing themselves with the path of the customer they are better able to use data gathered to increase sales performance and turn out advocates ultimately. According to Thorsten Lips, Head of Sales Consulting at Horvath and Partners “Sales excellence in the future will include far more than traditional interaction with customers, which was limited to one touchpoint. Rather, all information will flow through all sales channels to a central office in the sales organization.”

User experience is based on the customer’s information needs. The key to improved user experience hinges on a constant real-time dialogue with customers to inform the choice of tools to evaluate their interests. Duolingo, the online tool for learning international languages, has used this strategy to good effect, they have simplified the learning process through the use of 3 easy questions to get users on track to learn a new language such as French or German. This way they have achieved the goal of a preferred learning tool over Rosetta Stone whose uptake processes have proved relatively more cumbersome. Furthermore, by analyzing all interactions at touchpoints, information can be obtained on important outcomes such as the company’s turnover, to enable sales teams to prioritize future content strategy. Prior to rolling out their redesigned website in 2014, Paypal’s original design was overly complex. They have gone on to simplify their site by reducing and optimizing content to making it more accessible to the average user and with better meaning as well as timesaving functionalities.

Starbucks has found omnichannel a useful strategy to improve user experience. They have creatively introduced a personalized mobile app for online ordering based on their understanding of users’ purchase histories and patterns. They have intuitively discovered Humans as creatures of habit who will often repeatedly order the same thing or rotate from a shortlist of things. Therefore, for most people, it is easier to pick what you want from a list of your previously ordered items than from a full menu. Using the Starbucks app at least once a week, one rarely uses the option for the full menu, one can use their friendly app by looking at the “Featured” tab to see if there is anything new and then select what you want from the “Recents” tab. It makes life easier in comparison to others such as the Panera app, where you are required to sort through the full menu every time.

Digital Experience Management

Digital customer experience management (DCXM) includes the coordination of all digital content activities that are intended to give customers an outstanding experience at each interaction point on the customer journey. By analyzing all interactions at the touchpoints one can derive information about which touchpoints are most important for a company’s turnover to enable it to prioritize future content strategies for its digital platforms.

It impacts the overall corporate structure and culture. It means introducing completely new and sometimes unfamiliar processes. DCXM is an important transformation step for sustainable growth for any company. How content is handled and placed becomes the core task in the context of the sales strategy. Organizing the digital customer experience is not a one-off process – rather, it is subject to constant change and adjustment. Customers are individuals, after all, so be advised that your approach will depend on your target audience.

Transport Min overwhelmed with progress of work on fishing landing sites

September 25, 2020

The Minister of Transport, Kweku Ofori Asiamah has led a delegation comprising, the Acting Chief Director of the Ministry of Transport and the Ministerial Advisory Board, Mrs. Mabel Sagoe, Officials from the Ministry of Transport as well as the Ghana Ports and Harbours Authority to inspect current works at three fishing landing sites in Axim, Winneba and Senya Bereku which are part of the initial eleven coastal areas designated by government to be transformed into modern fishing ports and landing sites in Ghana.

Following the announcement of Ekumfi Otuam by the government as part of the sites designated for the projects, the number of coastal areas expected to have a modernized and well equipped fishing landing sites now comes to twelve (12) in number with Axim and Dixcove in the Western Region, Otuam, Moree, Mumford, Winneba, Senya Beraku, Gomoa Fete and Elmina in the Central Region, Teshie and James Town in the Greater Accra Region, and Keta in the Volta Region.

During the visit to the three fishing landing sites in Axim, Winneba and Senya Bereku, the Minister of Transport, Kwaku Ofori Asiamah took the opportunity to address some concerns of the fishing community at the various sites of construction and assured them of a timely completion of the projects.

The Minister also presented an award to the China Harbour Engineering Company, the contractors of the projects, for completing 500,000 man-hours without any injuries on the projects so far.

“As much as you are trying to finish well, you are not compromising safety and that is key for me,” the Minister stated.

Already, work is progressing steadily at all the locations where construction has commenced including Elmina where the President recently cut sod for that project. As at August, 2020, the completion stages of the various fishing Port and Landing sites were as follows: Axim 42.01%, Dixcove is 38.23%, Moree 37.52%, Mumford 38.57%, Winneba 8.88%, Senya 90.69%, Gomoa Fete 69.82%, Teshie 38.32% and Keta 5.25%.

The Ghana Ports and Harbours Authority is supervising the construction of all twelve (12) fishing Ports and landing site projects as the Nation’s Agency responsible for building, managing and operating all ports and port related infrastructure in Ghana.

White-collar crime, no punishment

September 25, 2020

pilot — White-collar crime, no punishment

Although the proper role of government in society is much debated, few would dispute that law enforcement falls within the state’s remit. But governments have increasingly turned a blind eye to enforcing the laws against the world’s most lucrative crimes: the fraud, embezzlement, tax evasion, bribery, and money laundering committed by the well-heeled.

In part, this failure can be ascribed to a lack of resources. Law enforcement authorities often are no match for white-collar criminals’ sophisticated techniques, which are carried out with the assistance of high-paid lawyers and accountants. But the bigger problem is that law enforcement efforts are increasingly directed not at criminals but at journalists who attempt to uncover their crimes.

Consider Wirecard, the German payments processor and financial-service provider. A recent darling of investors, the firm turned out to be one of the greatest frauds in Germany’s post-war history. In a classic Ponzi scheme, the company claimed to have parked abroad money that never existed. As with the Enron and Bernie Madoff scandals, the accountants, lawyers, and regulators who were supposed to safeguard the integrity of the financial system were complicit. In addition to failing utterly to do their jobs, they turned their weapons against the journalists who tried to expose the fraud.

For example, Germany’s financial regulator, BaFin, went so far as to file a criminal complaint in April 2019 against Dan McCrum and Stefania Palma, two Financial Times reporters who were investigating Wirecard’s accounting practices and misreporting. The Munich prosecutor’s office did not close its investigation against McCrum and Palma until September 3 this year, more than two months after Wirecard had already been forced into bankruptcy, and its CEO, Markus Braun, had been jailed pending a full criminal investigation. Apparently, the misleading information that the company and its hired agents presented to regulators was deemed more credible than the reporting of journalists working for one of the world’s most respected financial news outlets.

This is not an isolated case. While fraud, embezzlement, tax evasion, and money laundering are still labeled as crimes in most countries, their enforcement is declining rapidly, and nowhere more so than in the United States under President Donald Trump. As my Columbia Law School colleague John C. Coffee documents in his new book, Corporate Crime and Punishment: The Crisis of Underenforcement, law-enforcement actions against corporations are down by 76% compared to the Obama era, and by 26-30% for white-collar crime in general. At the current pace, it will not take long for financial crime to be whitewashed completely.

Some might argue that such enforcement is not worth the effort. In an article named after Fyodor Dostoyevsky’s famous novel, “Crime and Punishment: An Economic Approach,” the late Nobel laureate economist Gary Becker (one of the founders of the law and economics field) argued that the key question for law enforcement is not so much morality as costs and benefits. Because law enforcement itself costs something, Becker asked “how many resources and how much punishment should be used to enforce different kinds of legislation … how many offenses should be permitted and how many offenders should go unpunished?”

Such normative questions, he argued, should be determined by the net “social loss,” meaning the difference between the harms to society and the gains to the criminals. By this reasoning, it followed that the higher the gains for the offenders, the more likely they would cancel out the social loss, especially in light of the high costs of policing white-collar crimes.

Law enforcement agencies in the US and elsewhere seem to have heeded Becker’s advice. Rather than fighting crime that is lucrative for offenders but costly to detect, they have directed their limited resources against those trying to uncover these very crimes and the state’s complicity in them.

Thus, when the US Financial Crimes Enforcement Network (FinCEN) learned that the International Consortium of Investigative Journalists (ICIJ) was about to report on thousands of unanswered Suspicious Activity Reports (SARs) that had been filed with the agency, it issued a statement warning that the unauthorized publication of documents that might compromise national security constitutes a crime. The US Department of Justice, the agency added, had already been put on notice.

Undeterred, the ICIJ released its exposé on the “FinCEN Files” on September 20, detailing how big global banks – including JPMorgan Chase, HSBC, Standard Chartered, and Deutsche Bank – filed SAR after SAR and yet continued to profit from the activities of suspect clients who were moving around billions, if not trillions, of dollars.

Under current law, filing a SAR does not require a bank to cease providing services to the client in question, but it should at least raise a red flag within that institution. It didn’t. Instead, the banks stayed the course and continued to drown FinCEN’s 267 underpaid and overworked agents in paperwork. In the meantime, third-party “market watchdogs” earned more from deflecting investigations of their clients than from monitoring their activities. Wirecard’s legal advisers and accountants apparently jointly pocketed £120 million ($150 million) per year prior to the company’s demise.

The FinCEN files do not have all of the dramatic details of the ICIJ’s 2016 “Panama Papers” bombshell, which revealed brazen tax evasion by prominent sports stars and politicians, committed with the help of the Panamanian law firm Mossack Fonseca. In fact, much of what the FinCEN files contain has already been known for some time, which may be why the news is being met with a shrug – Plus ça change, as the French say.

But even if scandalous behavior on the part of big banks is nothing new, we should all be deeply troubled by watchdogs and law enforcement authorities’ complicity in highly lucrative crimes. Not only have they turned a blind eye to brazen lawlessness; they have proved all too willing to muzzle the free press in the process.

Katharina Pistor, Professor of Comparative Law at Columbia Law School, is the author of The Code of Capital: How the Law Creates Wealth and Inequality.

Women with wings: Female pilots making history

September 25, 2020

Patricia Mawuli is Ghana’s first female civilian pilot and the first woman in West Africa certified to build and maintain rotax engines.

STORY HIGHLIGHTS

Patricia Mawuli is Ghana’s first female civilian pilot
She is also the first woman in West Africa certified to build and maintain Rotax engines
Mawuli grew up in a mud shack in the bush, and was denied a position when she first applied
She now also teaches flying to young girls in Ghana

Every week, Inside Africa takes its viewers on a journey across Africa, exploring the true diversity and depth of different cultures, countries and regions.

Asuogyaman, Ghana (CNN) — Patricia Mawuli grew up in a mud shack in Ghana’s bush country. As a young girl, she would wistfully watch the planes pass overhead, wishing one day to fly one herself.

In 2007, at the age of 21, she decided to break into the boy’s club that is Ghana’s flight industry. She walked to Kpong Airfield and asked for job.

“I (told) her no, we don’t employ women,” recalls Jonathan Porter, the airfield’s technical director.

“The whole concept of employing women in an environment where you’re clearing trees and building airplanes didn’t seem to me, in my experience, to fit in with the African context,” he admits.

Mawuli was persistent, however, and when she offered her services for free, he couldn’t resist giving her a trial. He gave her a machete and told her to clear tree trunks. To his surprise, she flourished.

“She used her head, not just her muscles,” he recalls. “She thought about how she did things and took out the trees better than the men.”

Not only did Porter give her the job, he taught her how to fly, and in 2009 she became the country’s first female civilian pilot (as well as the first woman in West Africa certified to build and maintain Rotax engines).

“I said: ‘I will do whatever it takes, I’ll work hard, you don’t have to pay me.’ They told me: ‘Don’t worry. You are so different. You’ve got energy, you have potential. We will do whatever it takes.’ This is when my whole flying career just started to boom,” recalls Mawuli.

Female filmmaker tackles tough subjects

Strength of Ghanaian women

Since then, Mawuli has been offered jobs from all over the world, but she’s decided to stay put and help grow a generation of female pilots in Ghana. With Porter, she has launched an academy called AV-Tech, which aims to provide young Ghanaian girls with the skills, training and inspiration they need to make it on their own as pilots.

“There are a lot of young people (who), when they see me, (are given) hope. It motivates them to learn harder because they believe women actually have something ahead of them,” she says.

Some, like Catherine Shelton, have come from as far afield as the United States to learn from Mawuli.

“She’s a very good instructor,” says Shelton.

“She’s taught me general airfield operations — safety, security — (and) a lot culturally. She’s taught me the difference in the aviation industry here versus the U.S. versus Europe.

“And she keeps me smiling.”

State institutions draining funds through demurrage

September 25, 2020

Every year, millions of cedis are paid as demurrage – fees importers pay for overstayed containers – to shipping lines. Data from the research department of the Ghana Shippers’ Authority (GSA) reveal that even though there has been some improvement since the authority begun an educational drive on the development since 2016 the figures still remain high.

Due to the persistent increments, the GSA took a bold step to allocate resource to educate the general public and on ways to avoid the payment of demurrage as it is a charge very preventable. Some of the stakeholders who benefited from the educational campaign were the Association of Ghana Industries (AGI) and the Ghana Union of Traders Association (GUTA).

Since then, from the high of US$95 million in 2016, demurrage dropped to US$76 million in 2017 and it further moved down to US$59 million in 2018 and saw a huge dip to US$27 million in 2019.

In interviews with some shipping line managers, the B&FT gathered that there is some scepticism with the official data with some noting that despite the sharp drop, the figure is still high and developments at the ports this year could see the data go up due to rows and rows of containers that need to be cleared from the port but have not been, impeding the flow of their business.

They told the B&FT that their interest is to get containers emptied and returned with cargo in it or to pick cargo somewhere else than let it be in a port and accrue demurrage. Some of the shipping lines who spoke to the paper on the condition of anonymity commended the GSA for their initiatives but said the major culprits of the development are state institutions – Ministries, Departments and Agencies.

From an interview with three major shipping line managers in the country, it was estimated that out of the US$27 million paid as demurrage in 2019, 60-70 percent was paid by state institutions. They cited the Electricity Company of Ghana (ECG), Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCo), Ghana Cocoa Board (COCOBOD) and the Ghana Armed Forces (GAF) as part of the major state institutions, guilty.

“We are a global organisation so we deal with different states, there are other countries that import goods from Ghana. Government agencies in other countries buy from Ghana and we carry the goods to them; they don’t act in this manner. They don’t behave as if they are not ready for the goods. Immediately we dock, and the goods are out it is cleared from the port and we get our containers.

But here in Ghana, we have goods that were imported by state institutions and they stay at the port for over 100 days, for some years and accruing demurrage and because it is government money used in paying, it seems no one cares. When they are ready, they use the taxpayers’ money to come and pay for demurrage and get their goods.

Sometimes it’s as if they are doing the shipping line a favour. Because we really need our containers as well, we also give them discounts so they take their goods out of our container; sometimes the demurrage amounts are outrageous,” a shipping line manager who pleaded anonymity told the paper.

A different shipping line manager also said: “It’s about time the government finds a way to ensure that state institutions – Ministries, Departments and Agencies get their acts together and clear their goods from the port early. The millions of dollars that are pumped into the payment of demurrage can be used for other developmental projects and we can get our containers early to do more business.”

Another manager said: “Some state institutions do not plan for these goods because if you really plan you would not fall for the payment of demurrage.” He added that “for the mere fact that when goods go on auction some goods that have been in the queue for a long time are pushed back and new ones are auctioned there seems to be a deliberate ploy to also let some of these goods go for auctioning.”

It is believed that the newly introduced Integrated Customs Management System (ICUMS) has come with one of the ways to deal with the menace of demurrage. “With ICUMS, it offers importers the opportunity to do pre-arrival documentation so even before the consignment would arrive in Ghana, you can begin work on it so that you can skip some of the bureaucracies and get the goods cleared early to benefit us all,” a trade expert, Dr. Silvanus Adjei said.

Bureaucratic operation procedures, system issues which include changes in cargo clearance platforms, delays in exemption/permit processing are among the many factors that result in delays and subsequent payment of demurrage. For some, it is difficult to avert but in other cases, where there is a will, there is a way and its time government develops the will to address the menace.

Tang Palace Hotel to reopen September 28

September 25, 2020

Tang Palace Hotel, a four-star luxury hotel, in Accra known for its cleanliness and quality services, has stated its readiness to reopen for business operations as the government gradually lifts imposed COVID-19 restrictions on the hospitality industry.

In a statement to clients and the public, the hotel is set to reopen on Monday, September 28, 2020, with management stressing its readiness to receive guests after putting in place all the necessary measures or protocols outlined by government for the prevention of coronavirus.

Prominent among the deployed mechanisms to ensure client safety include the instalment of a sanitising tunnel which all guests must go through before entering the facility, advanced body temperature checking equipment to check the temperature before allowing access, the imposition of a resident nurse to assist with emergency issues and a help desk at the lobby that will operate 24/7.

General Manager of Tang Palace, Sajid Khan, said: “We cannot wait to welcome you our cherished clientele. We are mindful of the period we are in hence your safety and wellbeing is the priority in all what we do. We have been working behind the scenes to ensure we do not miss out anything for you to enjoy the luxury we always offer.”

In addition, he emphasised that the famous continental restaurant in the facility will only serve Ala-carte menu and the buffet service in the restaurant will be on hold unless with a specific number in a group. Again, apart from the Ala-carte breakfast that will be served at the restaurant, all other meals during the day must be ordered and served in the room.

The newly outlined dinning measures are all aimed atT ensuring social distancing and minimum human contact so as to promote maximum client safety. “It may look different from how you have known the hotel in the past years but be assured all above arrangement are put in place to guarantee your safety and to provide you quality service,” Mr. Khan reiterated.

New NDPS to promote accountability and localised development

September 25, 2020

The Executive Secretary of the Inter-Ministerial Coordinating Committee on Decentralisation (IMCC), Mahama Salifu, has said the new National Decentralisation Policy and Strategy (NDPS, 2020-2024) put together by the government would promote accountability and economic development at the local level.

The Executive Secretary further emphasized that government has shown in the new NDPS formulated with the aim to address system challenges of local democracy, its commitment to help increase internally generated revenue of assemblies, promote community-based social infrastructure development and deepen local democracy.

The NDPS also took local economic development one-step further by acceding powers to Metropolitan, Municipal and District Assemblies (MMDAs) to enter into Public-Private Partnerships (PPP) with entrepreneurs and enterprises to promote local industrialisation, agriculture production, tourism and other economic activities in which they have local endowments.

In addition, the NDPS localises Ghana Beyond Aid Agenda by facilitating local governments internally generated revenue mobilisation means and improving their financial management.

Speaking at a nationwide series of sensitisation workshop on the new NDPS (2020-2024), Mr. Salifu, reiterated that this enhanced version of the existing national decentralization policy will help propel local economic transformation in Ghana.

“The recent attempt by the President, Nana Addo Dankwa Akufo-Addo to cede some of his constitutional powers to the citizens to elect their own Metropolitan, Municipal and District Chief Executives (MMDCEs) demonstrated the commitment of the government to realise democracy. The President through the new decentralisation policy aims to bring not only government and services closer to the people but also accountability,” he said.

Mr. Salifu emphasized that without downward accountability, local democracy was not complete and that the new policy among its objectives was to fulfil the requirements under Article 240(2) (e) of the 1992 Constitution, which provides for accountability of Local Government Authorities (LGA) to the people in local government areas.

It would be recalled that the NDPS was approved by Cabinet in December 2019, with funding by the European Union Delegation to Ghana which makes provision for sensitization resources.

The sensitisation workshop brought together Regional Coordinating Directors and Economic Planning Officers, District Coordinating Directors, Budget Analysts, Planning Officers, Traditional Authorities, Civil Society Organisations (CSOs), private enterprises and other key stakeholders across the country acting in the local space.

The participants were carefully selected to discuss all the 22 policy measures envisaged with related activities, outputs and timelines for implementation over the next five years. The roles and responsibilities of the stakeholders were discussed to ensure effective and efficient implementation, monitoring of achievements and shortfalls for immediate remedies.

The workshop also addressed some imperatives for achieving the envisaged decentralisation system which includes the transfer of functions, powers, responsibilities and resources from the central to local government and measures to build the capacity of local authorities to plan, initiate, coordinate, manage and execute policies.

Cashew processing factories take delivery of COVID-19 reliefs items

September 25, 2020

Photo: Ernest Mintah (left), MD of ACA, hands over items to Ed-Malvin NiiAyibontey Smith (right), President of ACPG. Credit: Edward Adjei Frimpong

The local cashew processing sub-sector has received a massive boost to sustain operations, amidst threat by the Coronavirus pandemic.

This follows the presentation of COVID-19 relief items to the processors by the African Cashew Alliance (ACA) and its partners to ensure the factories work under a cleaner and safer environment to control the spread of coronavirus.

The relief items worth GH¢539,140 would be shared among all operational cashew processing plants in the country to ensure uninterrupted operations under COVID-19 free conditions. Currently, there are about ten (10) active local processing factories with a total production capacity of about 46,000 metric tonnes. Due to a plethora of challenges, all the factories currently operate below their installed capacities.

The relief materials included 25 pieces of stainless steel tables to promote social distancing at production units, hand thermometers (22), veronica buckets (40), hand dyers (20), aprons (300) and disposable hair nets (635). The rest are sanitizers (4.5 liters, 130 gallons), nose masks (1,430 boxes), paper towel roll (965 pieces), rubbing alcohol (200 gallons), overall coat (30 pieces), hand washing liquid soap (4.5 liters, 630 gallons), paper dispenser (20) and bar soap (100 boxes) among others.

Presenting the items in Accra, Ernest Mintah, Managing Director of ACA, recounted the negative impact of the pandemic on the cashew value chain, and thus, underscoring the need for such intervention to sustain the operations of cashew processors.

He said: “Processors were unable to buy raw materials for processing neither were they able to function adequately with less human resources as the need to observe social distancing arose. Aggregators, on the other hand, could not purchase in large quantities as they did not have big storage facilities to store the produce for long periods, awaiting the full functioning of processing units or reopening of the borders for export.”

The cashew industry across Africa, he observed, has been ravaged by the virus, warranting urgent policy support for the processing sub-sector, availability of adequate working capital financing, and the need to promote local consumption. “Our local processors do not have the adequate working capital financing to purchase raw cashew nuts needed to operate at optimal levels. Absence of modern technology impedes optimal functioning, as factories lack the needed equipment.”

Mr. Mintah commended ACA partners, GIZComCashew and the Swiss Economic Cooperation (SECO) for their unflinching support to ensuring sustainable cashew industry in the country and Africa as a whole.

The Deputy Executive Director of GIZ/ComCashew, Florian Winckler, said in the last ten years, many development efforts have been done to sustain the cashew value chain and increasing its competitiveness. “To enhance the capacity of processors, training programmes such as good manufacturing practices, proper sourcing and warehousing, Cashew master training, record-keeping among others have been organised by the project.”

He added that it has become imperative to support small and medium businesses to stay afloat in the light of the pandemic so as to protect jobs and income. He expressed optimism that the donation would go a long way to help curb the spread of the virus and enable the factories to implement appropriate hygiene protocols during cashew processing.

The President of the Association of Cashew Processors Ghana, Ed-Malvin Nii Ayibontey Smith, who received the items thanked the donors for such massive support. “The donation has really come at the right time. A time when factories are struggling financially to keep pace with the cost of ensuring that all the safety protocols are and will continue to be in place until the battle with COVID-19 is won.”

CAGD launches “treasury hour” to enhance staff professionalism

September 25, 2020

Participants at CAGD-treasury hour — Photo: Some of the participants at CAGD-treasury hour

The Controller and Accountant-Generals Department (CAGD) has introduced capacity building programmes for staff to promote continuous professional development and enhance service delivery.

The monthly programme, dubbed: “Treasury Hour,” is geared towards building the professional competence of staff on the treasury functions of the Department.

Speaking at a short ceremony in Accra, on Tuesday to officially commence the training, Mr Kwasi Kwaning-Bosompem, the Acting Controller and Accountant-General, said the recent banking crises had necessitated frequent empowerment of staff to avoid future recurrence of the situation.

He said building the capacity of staff, particularly those at the Regional, Ministries, Departments and Agencies, would, therefore, enable them to operate diligently and with the utmost professionalism.

“We, as Accountants do appreciate the job of our colleagues in the banking sector in this entire crisis. We have a lot to learn from this situation.

“I, therefore, urge you all to make good use of this opportunity presented to us by the treasury hour and develop ourselves to continuously improve upon the delivery of Financial Management Services to our stakeholders,” Mr Kwaning-Bosompem said.

Officials from the Bank of Ghana (BoG) are expected to train the staff on topics such as “The Banking Crisis: The role of the Accountant,” among others.

Mr Kwaning-Bosompem said the “treasury hour” was one of many capacity building initiatives the Department was embarking on, to enhance the knowledge of staff to effectively and efficiently deliver on mandates and to reposition and rebrand the Department.

He said the department, to address concerns by its stakeholders, had recently upgraded the Third Reference System, which allowed government employees to upload their passport pictures unto its e-payslip system.

Mr Kwaning-Bosompem assured stakeholders of efficient service delivery, adding that the Department would soon engage relevant stakeholders, to update and sensitise them on the various initiatives it was undertaking.

Dr. Hayford Baah-Adade, Deputy Controller and Accountant-General commended Mr Kwaning-Bosompem for the foresight.
“In July 2019, we had our first lecture which was well organised and attended. On the average, we had about 145 staff attending from both the head office and the Municipal and District Assemblies,” he said.

Dr Baah-Adade said the capacity building initiative since July 2019, had equipped staff in areas including instruments used by the government in raising public debt, implementing Ghana’s Treasury Single Account and lessons learnt, management of Energy Sector Levies, Management of Oil Revenue: the CAGD Role, among others.

GNA

Trump’s spectacular trade failure

September 24, 2020

Since World War II, the global economy has performed beyond the wildest dreams of its post-war architects, yielding unprecedented gains in health, education, living standards, poverty reduction, and wealth. Central to this success was the growth and liberalization of international trade, which was made possible with US leadership in the creation and stewardship of an open multilateral trading system.

That system – enshrined first through the General Agreement on Tariffs and Trade and then in the World Trade Organization – established international rule of law over global commerce, non-discrimination among trading partners, and a forum for negotiating tariff reductions and the removal of other trade barriers. The WTO succeeded the GATT in January 1995, and by 2000, average tariffs on manufacturers in advanced economies were about 2%, far below the levels of 1948. International trade had grown from around 20% of global GDP in the early post-war years to 39% in 1990 and 58% in 2018.

But the open multilateral trading system has been severely eroded over the past few years. The dollar value of world trade fell by 3% in 2019, even as world GDP was still rising. This reversal was largely the result of America’s shift toward bilateralism and protectionism since the beginning of US President Donald Trump’s term in January 2017. Trump seems to believe that the United States is powerful enough to secure better “deals” by negotiating (read: bullying) with trading partners one on one. But while the US is indeed a large trading country, it actually accounts for only 4% of the world’s population and less than one-fifth of global GDP. Those numbers alone justify skepticism about the effectiveness of Trumpian bilateral browbeating.

Moreover, enough time has elapsed that we can now subject Trump’s approach to the microscope. His stated aims when he came to office were to reduce US bilateral trade imbalances and remove or reduce trade barriers and tariffs against American goods, thereby increasing US exports. None of these goals has been achieved.

Bilateral and overall trade deficits cannot be remedied through protectionism, and both indicators have actually worsened under Trump. The overall US trade deficit rose from $750 billion in 2016 to $864 billion in 2019 and has now reached its highest level since July 2008. And US exports to China, the main target of Trump’s “America First” trade policy, have risen by only 1.8% in the year to August 2020, while Chinese exports to the US have risen by a whopping 20%, thereby increasing the bilateral trade deficit.

As is always the case in trade wars, both countries have lost from the tit-for-tat tariff increases. American consumers now must pay more for many goods from China, and the US has had to pay out some $28 billion in compensation to American farmers. Numerous US businesses have been forced to pay more for inputs, and have consequently lost market share to foreign competitors who now have a cost advantage. And, predictably, China has raised its own import tariffs on American goods, undermining US exports.

Similarly, the Trump administration’s “renegotiation” of the North American Free Trade Agreement (NAFTA) and the US-Korea Free Trade Agreement (KORUS) were supposedly meant to address “new issues” like the rise of the digital economy. And yet, these issues had already been included in the Trans-Pacific Partnership (TPP) negotiated by Barack Obama’s administration, which Trump immediately abandoned upon taking office. Having concluded a similar free-trade agreement without the US – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – the remaining members of the original agreement now enjoy duty-free access to one another’s markets, while the US is subject to higher tariffs vis-à-vis these countries.

So, far from reducing the barriers faced by US exports, Trump has managed to increase them almost across the board. Under the TPP, American wheat producers would have been spared Japan’s 38% tariff on all wheat imports. But now that the TPP has been replaced by the CPTPP, Canadian and Australian wheat exporters to Japan are subject to lower tariffs than their US counterparts. Making matters worse for US producers, Japan and the European Union have since concluded a free-trade agreement that eliminates duties on autos and other goods.

The list of Trump’s “own goals” goes on. Sweeping tariffs on US steel and aluminum imports (which initially included those from its NAFTA trading partners) have merely disadvantaged American steel-using industries. But iron and steel employment has fallen over the past two years.

Even though almost every US ally has been on the receiving end of US demands for changes in trade relations, very little has been achieved. The primary changes to NAFTA were in automobiles and parts, and the effect was merely to increase protection against imports from Mexico.

Finally, and perhaps most importantly, the Trump administration has severely undermined the WTO by blocking the appointment of new judges to its appeals panel, thus rendering the dispute settlement mechanism non-operational. The WTO is a global institution whose 164 members account for 96.4% of world trade and 96.7% of world GDP. The world desperately needs it to function properly.

The Trump administration would have had a much greater chance of success if it had addressed outstanding trade issues through the WTO. Forming alliances with like-minded trading countries and amending the WTO’s rules multilaterally has long been more effective than pursuing narrow, piecemeal objectives unilaterally. Trump’s bilateralism and rejection of the WTO has undermined the entire international trading system and inflicted great harm on US firms and households.

Photo: Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund

Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the Johns Hopkins University School of Advanced International Studies and Senior Fellow at the Center for International Development at Stanford University.

4-month halt in manganese exports negatively impacts T’di port half-year cargo traffic

September 22, 2020

Photo: H.R. Manager at Port Takoradi, Peter Amo Bediako, speaking to Eye on Port

Management of Port Takoradi has revealed that despite steady growth in import traffic, there has been a significant drop in export cargo traffic at the port for the first half of 2020 as the result of an about-four-month long halt to manganese export through Port Takoradi.

Speaking to the Eye on Port programme, the Human Resource Manager at Port Takoradi, Peter Amo Bediako, disclosed that there was an about-53% reduction in cargo traffic for the first six months of the year 2020 compared to the same period in 2019.

This shortfall, he said, is largely attributable to a drop in exports by 68% as a result of the inability to ship manganese in the first four months of 2020.

“If you look at exports alone, we lost a total export of 2.9 million metric tonnes of cargo. Out of that, 2.2 million metric tonnes representing 76% was manganese,” he explained.

He made these revelations in an attempt to answer a question that sought to find out if any direct link could be drawn from negative impacts of the COVID-19 pandemic on business at the port.

He explained that, instead, manganese export took a break following some discussions between the government and the manganese companies to rearrange its deal.

“The issue with manganese had nothing to do with COVID-19. I think some discussions were going on about the capping of manganese exports through the port, and this is still being discussed, and that is what affected us for about a six-month period.”

However, the HR Manager, who was formerly in charge of Marketing and Public Affairs at Port Takoradi, updated that export of Manganese began again in May.

Regarding imports, Peter Amo Bediako said in the first half of 2019, 1.4 million metric tonnes of cargo was handled at the Port of Takoradi compared to 1.29 million metric tonnes handled in the same period of 2020, which has some slight correlation with the coronavirus.

However, according to him, because Port Takoradi’s performance has been heavily reliant on exports, the fall in export numbers makes it more conspicuous in the half-year outlook.

Have we now attained an optimal taxing regime for CST?

September 22, 2020

Image credit betterthancash.org — Image credit: betterthancash.org

The recent 4% reduction in Communication Service Tax (CST) may well be the middle-ground for all stakeholders. My personal view has always been that we need to strike a fair balance between generating extra revenue for the government and encouraging telecom-facilitated economic growth.

‘President Kagame says mobile phones are no longer a luxury but a necessity for Africans. Yet the majority of African governments levy luxury taxes on air-time, handsets and equipment. These taxes are borne by consumers and have a negative impact on affordability. They are also regressive in nature, penalising poorer sections of society.’……………GSMA – Taxation and the growth of mobile services in sub-Saharan Africa Report.

Telecommunication services and products have become a necessity to most of us. Therefore, any barrier to our free and affordable access and usage will limit our individual and business growth – and in extension affect many economic activities of the nation.

Telecom for Vibrant Economic Growth

It’s been very obvious over the years that the growth of our telecom sector has generated many business activities within the Ghanaian economy. Today talking, texting and transferring money via the phone, one can complete a whole transaction from the convenience of his or her home.

Delivery of goods ordered and paid for online, for example, is now common here in Ghana, thanks to enhanced communication among the population. The increased effect of telecom services on various economic activities cannot be underestimated.

The Ugandan Example

Higher levies on telecom services and products have never helped. In Uganda, for example, it is reported that the introduction of higher charges in the communication industry has generally proven not to be good. In fact, the Guardian newspaper featured a story last year on how millions of Ugandans had no option but to quit Internet services as more taxes are imposed on their online activities.

ITU’s Take

“There is growing evidence that the diffusion of telecommunication/ICT services – both voice services and broadband – has a spill-over effect on economic growth, though there is less agreement about the size of that effect. In these circumstances, a tax that slows down the diffusion of telecommunication/ICT services defers the arrival of these benefits; it may also reduce, rather than increase, tax revenues by causing the economy to grow more slowly. This depends on some key parameters, the values of which vary from country to country and about which there is as yet no certainty.” – ITU

Some Telecom Tax Elements

Some say most of the Telecom companies are private institutions that have a commodity to sell to stay profitable, with terms and conditions they think will best suit their business.

Undeniably, data is expensive here in Ghana when you compare prices from other jurisdictions. But if the likes of MTN, AirtelTigo and Vodafone have to pay corporate taxes, import duties on machinery and parts, PAYE, VAT and SSNIT etc., they will obviously push these burdens on the consumer.

The Balance

Where do we strike the balance? Encourage Telecom Facilitated Economic Growth or Increase Government Revenue for Public Services?

With participation from the likes of Zain, Buzz, Mobitel, Ghana Telecom and now MTN, Vodafone, AirtelTigo and Glo, Ghana has seen significant effects of telecom activities in the economic growth of its population.

We should also be frank that government has lot of public services to render to the same vibrant population. The telecom-enabled growth equally offers government a good opportunity to tap into more revenue as required.

But as the research by Telecommunication Development Bureau (BDT) in collaboration with the Telecommunication Standardisation Bureau (TSB) of ITU suggests, there is always need for a thorough engagement with all stakeholders in coming out with the best modalities of revenue generation in the telecom sector. This paper further cautions against a one-sided approach to this. In fact, it entreats stakeholders to weigh having great revenue from the sector to support public service against sustaining and boosting the gains made by telecom-facilitated economic activities.

GSMA’s Submission

“The GSMA calls on governments to urgently review its mobile sector taxation strategies in consultation with the industry and other experts, with a view to implementing an optimal taxation regime.”

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Naa Otua’s thoughts: Ideas need currency – Innovative funding sources for startups

September 22, 2020

“The bane of entrepreneurship in Africa is access to capital.” This statement stayed with me long after my conversation with a dear friend who is an established entrepreneur. This view is held by almost every businessperson I have spoken to and is further affirmed by several researches and reports on entrepreneurship in Africa – such as the recent GreenTec Capital Africa Foundation and Wee Tracker Media’s report which showed that most African startups shut down as a result of inadequate funding opportunities. Ghana, alarmingly, has a startup failure rate of 74% – one of the highest in the region (source: The Better Africa report, 2020).

As discussed in my previous article (The Currency of Ideas), there is certainly no lack of entrepreneurial talent or endeavours in Ghana. If anything, despite having one of the highest startup failure rates in the region, Ghana is one of the top-ten countries in Africa with the most entrepreneurs, and second in the world for female entrepreneurship (source: MIWC, 2019). The entrepreneurial culture in the country is quite vibrant, with about 80% of adults seeing entrepreneurship as a valid career choice.

As Joseph Schumpeter said: “The inventor produces ideas, the entrepreneur gets things done” – and part of getting things done is securing funding for your business idea. It is undeniable that the challenges entrepreneurs face in Africa, and Ghana in particular, are multifaceted; but we can agree that chief among these challenges is that of funding – external funding to be precise. Small businesses have less access to formal sources of external finance, and as such must be creative in their strategies to secure funding.

That notwithstanding, the recent years have seen an increase of investor interest in, and funding of, African startups. In 2018, there was a 400% increase in total startup funding received for African startups. The number of funding deals more than doubled, with startups receiving big-ticket rounds of over US$5million. In total, African startups raised a record US$725.6million across 458 deals (source: WeeTracker Venture Investment Report, 2018). This is great news for budding entrepreneurs seeking financial support for their innovative business ideas.

Where do you start from?

The startup funding landscape has changed significantly over the past few years in Africa. We’ve witnessed an impressive surge in venture capital investment, angel investors, accelerators and incubators available to entrepreneurs at all stages; from seed stage through to growth, to the scaling stage. There has also been an increase in alternative financing avenues, such as crowdfunding and investment syndicates interested in African startups. Indeed, the funding landscape is looking quite optimistic for startups in Africa.

Depending on the stage of your startup – i.e., early idea, seed, growth or scale, there are several options that can be pursued. This article will address early-idea funding sources and innovative fundraising strategies that entrepreneurs can employ.

Bootstrapping

It is most likely that nearly every successful entrepreneur has had to bootstrap their business at some point, usually at the beginning. In many cases, business entrepreneurs who bootstrap their companies start with very little funds – usually made up of personal savings or debt, loans from family and friends, and customer funding to make up capital for the business. For new startups, bootstrapping might be an effective model during the early stages as it encourages simplicity and lean starting. The software development platform GitHub is a good example of a startup that launched as a bootstrap in 2008 and was later bought by Microsoft in 2018 for US$7.5bn; and Ghana’s McDan Group of companies, which was started as a bootstrap in 1999, is now a multinational company.

Some startups are able to create avenues for generating revenues from day one, which are reinvested into the business to sustain and grow it without any external investment. Most Ghanaian-owned businesses rely on this means of financing. Bootstrapping can be suitable for startups which do not require large inputs of capital from outside sources to grow. Given how prohibitive business loans from banks and other formal financial institutions are in Ghana, bootstrapping is usually the first option to kick-start a business.

Building a strong financial foundation on your own with limited resources is a huge attraction for future investors, as this shows commitment on the part of the entrepreneur. Many of the successful companies we see today started as bootstrapped enterprises, and by providing amazing products and services, adopting solid strategies and sustained growth have been able to become industry leaders. It is important to note the fact that a startup choosing bootstrapping over other financing alternatives at a certain stage doesn’t mean they can’t change over the long-term.

Most startups choose bootstrapping in the initial stages of idea development, research, mockup or launch. Again, GitHub is a clear example of a bootstrapped company that changed to external funding by raising money from venture capital firms to accelerate its growth. There are many companies that have been successfully bootstrapped; however, not many remain in that stage for the lifetime of the business; to scale-up and/or diversify, external help is prudent. Too, not every startup can be bootstrapped; some need large sums of capital to start, and with the increasing resources and funding streams currently available, it is a lot easier to fund startups in Africa than it was less than 5 years ago.

Crowdfunding

This is perhaps the most popular external funding source for startups to raise the capital necessary to start a company and/or find a product-market fit. Crowdfunding has levelled the playing field for product market validation. It is a great way for testing if there is an actual demand/need for the products or services you want to create.

There are different forms of crowdfunding – including reward-based crowdfunding whereby entrepreneurs pitch their products and ideas to a variety of people such as consumers, investors and individuals, by offering those interested an opportunity to participate in the evolution of their products in exchange for capital. Global crowdfunding platforms such as Kickstarter and Indiegogo act as aggregators for entrepreneurs by pooling together people interested in a particular startup to contribute the capital.

Other forms of crowdfunding include equity-based crowdfunding, whereby investors put money into a startup and get equity in return. There is also lending crowdfunding, wherein startups can borrow money from investors or individuals and pay back at an agreed time. Usually, the terms of these loans are much more favourable compared to traditional banks. The nature of crowdfunding makes it feasible for entrepreneurs to mobilise seed capital at the local level.

Although global crowdfunding platforms provide access to a larger number of investors and backers, they also attract a lot more entrepreneurs vying for funding, which leads to stiffer competition – thus making local crowdfunding a viable option, and more so if it is a donation or rewards-based crowdfunding in which the legalities are not too stringent and can be set up more easily. It is relatively straightforward to put together a crowdfunding campaign, especially at the local and community level.

Social media platforms such as Facebook Fundraising are great tools to facilitate crowdfunding efforts. This is better-suited for donation or rewards-based crowdfunding wherein backers are not looking for a return on investment, but are simply happy to contribute small amounts as donations or receive a product or service in return. Amounts from this type of crowdfunding are usually minimal and require a larger number of people contributing to realise a substantial amount of capital.

Other platforms that offer crowdfunding potential are places of the congregation such as churches, social clubs etc. These platforms have a sizeable number of groupings that can be leveraged. This is what I call off-line crowdfunding. A great, innovative business idea that solves a problem in the community or country, backed by a compelling pitch and a demonstration of integrity, credibility and drive, is sure to gain local support.

Business Angels

Unlike Venture Capital investors, Angel investors are usually high net worth individuals who invest their own money into a startup. Business angels are great for funding early-stage startups, as they not only provide the business with seed capital but also provide mentoring and business networks to the entrepreneurs they invest in to help build their businesses. Angel investors are usually more vested in the startup personally, have flexibility on the timeline for their expected returns on capital invested, and as such are better-suited to entrepreneurs who are just starting out and need the leeway to learn and modify their business model as they go.

The practice of Angel investment, though not new in Africa, has just recently seen increasing interest. According to the African Business Angel Network, monitoring angel investor interests over the last 5 years has shown that the region is developing what could potentially become one of the most vibrant and innovative early-stage entrepreneurship ecosystems in the world. Going by figures from The World Bank, Quartz and WeeTracker, in 2018 alone African startups raised over US$725m in financing across 458 deals; a significant proportion of which is attributed to early-stage investors.

I encourage entrepreneurs to seek out local angel investors first for the same reason as avoiding the overcrowded global angel investors platforms; and also for the fact that local angel investors tend to focus on the startups which provide solutions for the cities in which they are based, as opposed to startups in far-flung countries.

To mitigate their investment risk and increase the size of the capital amount, most angel investors usually form a syndicate or network to co-invest. One way of reaching angel investors is to identify a group of successful business people or high net worth individuals in the community – such as real estate developers, multimedia business owners, car dealership owners etc. – to form an investment syndicate for your startup. With the right pitch, a solid and realistic repayment plan plus earning and profit projections, most of these individuals will be open to diversifying their revenue streams and working with an eager, budding entrepreneur.

Grants

Job creation is atop the development agenda of most African governments, which includes creating an enabling environment to encourage entrepreneurial pursuits by providing small grants and resources for entrepreneurs. Grants usually do not require repayment and range from a few hundred to thousands. Global companies such as Google, Huawei and Facebook also have initiatives that provide grants to entrepreneurs in emerging economies.

If your startup is clearly helping your local community, this could be a good avenue for getting some funding. Most grants are tied to specific criterion such as women-owned/led startups, tech startups, agri-business startups etc.; making it a lot easier to identify grants that your startup qualifies for. The business grants space is equally crowded, as there is more demand than supply. You can cut through the competition by lobbying your local Member of Parliament to set up a grant scheme for startups in your constituency, which will have fewer entrepreneurs vying for it and thereby increase your chances of receiving the grant.

Accelerators and Incubators

One thing that has seen a significant ascent in most major cities across the continent is the rise of accelerator and incubator programmes for startups. These hubs and competitions have been responsible for launching and helping many small startups grow by providing mentoring, training, resources, working spaces, tools, funding and the community that entrepreneurs need to establish their businesses in. A big advantage of joining an accelerator or incubator programme is the business support and network that entrepreneurs receive. Being part of a community of business innovators, with similar challenges, helps make the entrepreneurial journey less lonely.

Conclusion

Raising funds to kick-start a business is beset with many challenges, and successful entrepreneurs are those who never look at capital as the real challenge but rather how to be resourceful.

Naa is a digital marketing professional and entrepreneur. The Founder of naamita.com, an online marketplace for women entrepreneurs, and the Owner of Q&A Concepts – a Marketing and Design Agency, she is also Co-founder of the Wami Project, a skill-share platform for budding entrepreneurs, and Co-founder of The Gurl Kode – a community of Ghanaian women empowering each other and causing change through dialogue.

Contact Naa Otua at [email protected]

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KEK Insurance Brokers out performed peers in 2019

September 22, 2020

Insurance practitioners — Photo: Shaibu Ali, MD of KEK Insurance Brokers

The KEK Insurance Brokers performed better than a number of brokers in the financial year 2019.

According to the regulator’s report, KEK’s brokerage income increased from GH¢23.21million in 2018 to GH¢25.64million in 2019, representing a 0.24% increase.

The trend for top-ten companies in Ghana’s insurance broking market changed as at year-end 2019, as broking firms like Willis Towers, Watson pushed old-timer Edward Mensah Wood from second position to third.

Willis Towers earned GH¢12.33million while Edward Mensah Wood & Associates chalked up GH¢12.28million in relinquishing second position to multinational broker Willis Towers.

Safety Insurance Brokers was also outpaced by Horizon Insurance Brokers to take the fourth position. Historically, companies licenced before the early 2000s are no longer in the top-ten of the brokers list.

Apart from Edward Mensah Wood & Associates incorporated in 1987 and KEK in 1985, all others on the top-ten list began the business of insurance broking in the later 1990s to early 2000s.

Although Willis Towers, Watson and Ascoma are global insurance brokers, the others -Horizon, Safety, Shield, Tri-star, Midas and Rmas – are all local companies being managed by experienced insurance professionals of repute.

From the analysis, Horizon earned GH¢5.91million; Safety- GH¢5.88million Shield – GH¢3.41million; Tri-star – GH¢3.32million; Midas – GH¢2.88million; and Rmas – GH¢2.69million.

Malta Day marked with focus on Ghana-Malta bilateral relations

September 22, 2020

The Malta High Commission in Accra yesterday, September 21, celebrated the 56th Independence Anniversary of Malta (Malta Day) with a firm commitment to facilitate more mutually beneficial exchanges between the peoples of Ghana and Malta.

According to the Maltese High Commissioner to Ghana, His Excellency, Jean Claude Galea Mallia “Facilitating people-to-people connections is at the heart of our Mission and is in line with the commitments made by European and African leaders at the Valletta Summit in 2015.”

Malta Day

Malta Day is a celebration of Malta’s Independence from British Rule, which took place on 21st September 1964. On this important day, Malta was given full independence in accordance with the Malta Independence Act and a newly created Constitution.

“Regrettably, we were not able to organise a social event to celebrate our Independence, due to the COVID-19 pandemic. However, instead, we shall be promoting Malta’s presence in Ghana and the essence of Independence, which is the ability to forge mutually beneficial partnerships,” the High Commissioner noted.

He said to celebrate Malta Day, the High Commission will be launching a number of short video clips showcasing the ever-evolving and dynamic relations between Malta and Ghana, most particularly through education and exchanges in technical expertise and know-how.

The Mission will also be launching a weekly series of online sessions that will give the opportunity to various captains of industries in Malta and in Ghana to discuss various themes and share their unique experiences, in a very casual and informal setting.

Exchanges between Ghana and Malta

His Excellency Galea Mallia noted that the government of Malta puts extra focus on educational and academic exchanges between the two countries in various fields. For example, yearly post-graduate scholarships are awarded by the University of Malta in the field of diplomatic studies, maritime law and sciences (STEM).

“In addition to exchanges between students and academics, the High Commission is also facilitating regular exchanges between Maltese and Ghanaian authorities particularly in the area of standardisation. A case in point, is the cooperation that is ongoing between the Ghana Standards Authority and Ghana Food and Drugs Authority and the Malta Medicines Authority, with the ultimate objective of increasing the quality and reliability of food and medicinal products manufactured in Ghana, in line with European standards,” he said.

The High Commissioner also pointed out that every year, PhD courses that include an internship within the Maltese Medicines Authority are also offered to Ghanaian professionals to increase their capacity and know-how in the field of standardisation.

Capacity building training was also offered by the Central Bank of Malta to officials from the Central Bank of Ghana in Valletta last year. A similar initiative was also organised for the benefit of officers from the Ghana Fire Service, who travelled to Malta for a specialised programme to upgrade their fire-fighting skills.

In addition to the above, the High Commissioner said, his office also facilitates exchanges between business incubators and start-ups, while providing them with sound advice and recommendations to help them understand the Ghanaian business context. “We have noticed that since the establishment of the High Commission of Malta in Ghana, more Maltese companies have been exploring commercial opportunities in Ghana”.

“The opportunities for cooperation are endless and our aim is to continue building on the successes we have had so far”.

He pointed out that with Ghana’s rich natural resources, youthful and vibrant workforce and sound economic policies, the country has the potential to grow further and attract meaningful investment that would boost the industrialisation and overall development of the country.

Malta views the African continent as a strategic partner that is growing in strength and influence in international affairs. Ghana was picked as the destination for the opening of the first Maltese diplomatic mission in Sub-Saharan Africa for various reasons: mainly, its track record as a flourishing democracy as well as for its stable macro-economic environment and vibrant business community, which altogether make it an ideal destination for companies that want to explore new markets in Africa.

The objective of the Government of Malta is to have an efficient network of diplomatic missions across Africa. In fact, the Ministry of Foreign and European Affairs has also recently appointed a non-resident Ambassador to Ethiopia, who is also the Ambassador to the African Union and a non-resident High Commissioner to South Africa.

Commercial Perspective

From a commercial perspective, Ghana is an important partner to Malta as well as to the European Union and both sides stand to benefit from closer cooperation. Malta supports Ghana’s vision towards Pan-Africanism and fully shares the belief that “unity would make Africa stronger”. With the secretariat of the AfCFTA being hosted by Ghana, the country will continue to play a key role in pushing the ideas of regionalism, free trade and free movement as a solution to various common challenges faced by African countries.

Furthermore, Trade Malta – the trade promotion organisation that offers assistance to Malta-based businesses on their journey to internationalization – supports Maltese companies in establishing themselves within new foreign markets including Ghana. To this date, we had two successful business delegations to Ghana with a number of Agreements and Memoranda of Understanding signed to facilitate cooperation and exchanges. This includes a Double Taxation Agreement and an MoU between the Malta Chamber of Commerce and the Ghana National Chamber of Commerce and Industry.

It is evident that the business-inducive environment and the success stories of Maltese companies in Ghana are generating increased interest. So far, we have around 10 Maltese companies that are at various stages of setting up shop in Ghana, while 11 other companies have started trading with Ghana.

May I also add that despite the uncertainties caused by the prevailing pandemic, most companies are still committed to set up presence in Ghana once travelling is once again eased. Obviously, companies tend to be cautious when investing in new jurisdictions, therefore we view this as a long-term process and a challenge, that requires continuous effort and support from investment promotion agencies and authorities in the respective countries, such as Trade Malta in Malta and Ghanaian Authorities such as GIPC and GEPA, whose support has been key to our success so far.

AfCFTA

The High Commissioner said he has always been a strong advocate of Ghana being an entry point into West Africa, therefore opportunities exist both within and beyond the territory of Ghana. With a consolidated market of 1.2 billion people, the AfCFTA has further highlighted the significance of trade with and within the African Continent.

The current administration has already launched a number of initiatives such as the 1D1F intended to boost industrialisation. Industrialisation is vital for Ghana to be able to take full advantage of the opportunities provided by the single market.

Strategic position of Malta

Malta is an island-state located in a strategic position at the centre of the Mediterranean. Despite its small size, the Maltese archipelago has played a vital role in the history of Europe and that of the Mediterranean as well as in the interplay between the emerging cultures of Europe and the older cultures of Africa and the Middle East.

Maltese society was moulded by centuries of foreign rule by various powers, including the Phoenicians, Romans, Greeks, Arabs, Normans, Sicilians, Aragonese, the Knights Hospitallers, the French and finally the British.

Malta got its independence from the British in 1964, seven years after Ghana and has been an active member of the Commonwealth since then. Malta eventually joined the European Union in 2004 and the Eurozone in 2008. Our official languages are English and Maltese.

Malta boasts of an innovation-driven economy that is highly dependent on foreign trade, manufacturing (especially electronics and pharmaceuticals), tourism and financial services. Malta, supported by a strong labour economy, has put a lot of hard work into promoting services and succeeded in becoming one of the main service centres in the Mediterranean region.

“We have been in operation for a little over a year and a half, though the journey started earlier than that. This is our first Diplomatic Mission in Sub-Saharan Africa, which stands to show our commitment and trust in Ghana as a beacon of stability and democracy in the region. As I was saying, it is particularly interesting to see how all these events occurred in such a short span of time leading to the current momentum”.

Following the successful State Visit of Former President of Malta, Marie-Louise Coleiro Preca in 2017, who was accompanied by former Foreign Minister Hon. Carmelo Abela, the importance of having a Mission in Accra was seriously acknowledged. The State Visit to Ghana was then reciprocated when the President of Ghana, H.E. Nana Dankwa Akufo-Addo, visited Malta in early 2019.

Birthday of Dr. Kwame Nkrumah

“I can’t help but to point out that Malta’s Independence Day falls on the birthday of Dr. Kwame Nkrumah, the first President and founding father of independent Ghana. On 6th March 1957, Ghana, became the first sub-Saharan African country to gain independence. For this reason, Malta views Ghana as the leader in the call for freedom from colonial rule and a staunch advocate of a strong and united Africa, a vision which Malta fully supports. It is now important for contemporaries to continue building on the solid foundations laid out by patriots like Dr. Kwame Nkrumah to make Ghana stronger for the benefit of its people” he stressed.

KMA to miss its revenue target by 25%

September 22, 2020

KMA(Kumasi Met) — Front view of Kumasi Metropolitan Assembly (KMA)

…blames COVID-19 constraints on businesses

The Kumasi Metropolitan Assembly (KMA) would be losing GH¢8 million, a quarter of its projected tax revenue of GH¢32 million for the year, due to the impact of the outbreak of coronavirus (COVID-19) on businesses within the metropolis.

The assembly, was expecting to use part of the revenue generated to execute its projects but given the current situation, its projection has dropped to GH¢24 million.

The development, according to the Deputy Finance Officer of the assembly, Rev Samuel Opoku Amponsah, is anticipated to affect expenditure funded from the assembly’s Internally Generated Funds (IGF). He explained, for instance, that the daily collections made by the assembly could not be reslised during the lockdown period.

Against this backdrop, he said the assembly has put in place a taskforce to help undertake rigorous tax collection exercise, collect data and also help sensitize the public on voluntary tax compliance given the work done by KMA. He noted that part of the monies collected is used for the cleaning of the Central Business District CBD) and the various markets, as well as monies paid to run the landfill sites among others.

Rev. Opoku Amponsah also observed that the expenditure pattern of the assembly has also increased. He mentioned that part of the assembly’s monies has been spent on social interventions especially on COVID-19.

“COVID-19 demands that there are social interventions, and the assembly did its part,” he stated. He said they undertook COVID-19 support at the various health centers, market places, lorry parks, and some radio stations as well.

With increased expenditure but reduced revenues, he bemoaned the poor attitude of the public against payment of taxes. “Without the payment of taxes, we cannot support the development of the country. The assembly supports security, education, health developments among others of the local people,” he said.

Even though it is likely that the negative variance in tax projections will not be reversed by the last quarter boom in sales, the Kumasi Metropolitan Assembly is optimistic that a property revaluation exercise could shore up its property tax proceeds.

The revenue contribution of KMA over the years has not been favourably. Last year, the Metropolis with all its brisk business activities, contributed a meagre 3 percent of the country’s tax revenues.

The Tax Justice Coalition, a civil society organisation with focus on tax mobilization and policing of Ghana’s tax regimes, insists Ghana has been laxed in rolling out innovative solutions in this critical area.

Its middle belt Zonal Coordinator, Christopher Dapaah, said there is the need to commence a vigorous deployment of practical digital technologies to monitor and facilitate tax collections.

Amos Safo’s thoughts: Mali becomes ECOWAS’ headache

September 21, 2020

akufo_addo — President Akufo-Addo, new ECOWAS Chair

Mali could become a ‘failed state’, unless ECOWAS leaders take strategic and pragmatic decisions to end the incessant military and jihadist interventions in the troubled Sahelian country’s management.

Almost five years since a Tuareg rebellion and coup d’état, Mali has been struggling to return to a normal state. The recent military coup is sending strong signals that the once-prosperous ancient empire and successful modern state since independence in 1960 is in danger of sliding into failed-state status – unless the international community acts fast.

The reason Mali should be the concern of ECOWAS is those jihadist activities and incessant military interventions have created the breeding ground for armed extremists and terrorist groups to thrive. Like a cancer, this could spread to the rest of West Africa. Evidence shows that Burkina Faso is directly impacted by the instability in Mali, with jihadists using Mali as a breeding ground and a launch-pad for attacks on Burkina Faso. Over time, Mali has become the development and democratic challenge for West Africa – given that out of the 15 ECOWAS states, only Mali currently has military rulers.

Security challenge

This is a security challenge confronting President Nana Addo Dankwa Akufo-Addo as the new Chair of ECOWAS. During the 57th Summit of the Authorities of ECOWAS Heads of States and Governments in early September, Ghana was unanimously elected as Chair of the ECOWAS authority for one year. The election of President Akufo-Addo three months into Ghana’s presidential elections has evoked various interpretations.

One view is that the vote of confidence the ECOWAS leaders gave President Akufo-Addo is as good as encouraging Ghanaians to retain him as president.

This is because I have not seen any ECOWAS regulation which suggests that if the current holder loses an election, his/her successor could automatically assume the role of Chairman on behalf of the country. In other words, the Chairmanship might not be transferable. Undoubtedly, President Akufo-Addo’s strategic leadership in managing the COVID-19 pandemic, coupled with his global recognition as a visionary leader, was the underlying reason for the vote of confidence in him.

The Head of Authority is the supreme institution of the community, and is responsible for the general direction and control of the ECOWAS community. The authority takes action on all matters of conflict prevention, management and resolution, peace-keeping and security, as covered by relevant protocols. A few days after assuming the role of Chairman, President Akufo-Addo convened a consultative meeting in Accra on Tuesday 15th September 2020 to deliberate on the leadership crisis in Mali. The meeting was called after initial mediation efforts by the presidents of Ghana, Ivory Coast, Niger, Nigeria and Senegal in Mali’s capital, Bamako, failed to end the impasse.

Immediate cause

The military intervention was prompted when thousands of Malians, led by the opposition ‘June 5 Movement’ took to the streets and demanded the resignation of ousted Malian President, Ibrahim Boubacar Keita – citing pervasive corruption, extreme poverty, and protracted conflict. According to media reports, dissatisfaction over the country’s economic woes, corruption and worsening security had been simmering for a while. The media reported that the immediate cause of the current crisis was a decision by the Constitutional Court in April 2020 to overturn the results of parliamentary polls for 31 seats, which would have ensured that candidates with Keita’s party were re-elected.

The protests turned violent earlier in September when three days of clashes between security forces and protesters killed 11 people. Several opposition leaders were also briefly detained. My worry is whether a court decision is enough justification for civilian unrest and military intervention. What has happened to the rule of law in Mali? Perhaps Malians should take a cue from the 2012 landmark election petition in Ghana.

Despite the petitioners’ dissatisfaction with the final verdict, they signalled Ghanaians to put the case behind them and let the country move on. Opposition parties in Mali should be oriented to accepted that their role is to provide alternative policies to the government – not creating a festering environment for the military to intervene. As long as the military continue to meddle in power, democracy will be the loser in Mali and West Africa.

Until the current spate of unrests, Mali had earned an enviable record as a thriving democracy since 1992, when Alpha Oumar Konaré won Mali’s first democratic, multi-party presidential election before being re-elected for a second term in 1997. Sadly, since 1997 the once-politically stable country has faced leadership crises – with the military and jihadists taking a turn to reverse the country’s gains. Like the prior ones, the current unrest risks further destabilising a region already battling an alarming increase in violent extremism and poverty.

Poverty

The UN Secretary-General, Mr. António Guterres, recently told the Security Council that the only way to prevent increased violence and instability in Mali is to tackle the root causes of poverty: underdevelopment, climate change, competition for resources, and the fundamental lack of opportunities among the youth of Mali.

Mr. António Guterres indicated that 3.7 million people, including 1.6 million children, are confronted with a major humanitarian crisis. This grave situation is exacerbated by intense inter-ethnic conflicts between the Fulani and Dogon ethnic groups, which are the underlying cause of instability and underdevelopment in Mali.

Ranked 175th out of 188 countries on the United Nations Development Programme’s 2016 Human Development Index, Mali is one of the poorest countries in the world; with nearly 45% of its population living below the national poverty line. Also, almost 65% of the Malian population is under 25 years of age and 76% live in rural areas. Mali, a vast Sahelian country, has a low-income economy that is undiversified and vulnerable to commodity price fluctuations. Poverty is concentrated in the rural areas of southern Mali (90%), where the population density is the highest. Moreover, Mali’s population at an annual growth rate of 3.0% is among the fastest-growing among developing countries.

Equally worrying is that life expectancy at birth in Mail is just 58.5 years; one of the lowest of any country in the world. Mali is also facing serious environmental challenges such as desertification, soil erosion, deforestation, and loss of pasture. Mali also has a shortening water supply amid climate-change and threats of desertification. For decades, Mali has been hit by droughts, a condition that is threatening food security and loss of livelihoods. Small wonder then, that with little opportunities for survival, violent crimes – such as kidnapping, abduction, killing and armed-robbery – are common among the youth of Mali.

Legacy of Mansa Musa

During the peak of the kingdom, Mali was extremely wealthy due to the tax on trade-in and out of the empire, along with all the gold Mansa Musa accrued. History indicates that Mansa Musa had so much gold that during several pilgrimages to Mecca, he gave out gold to all the poor along the way; a gesture that triggered inflation throughout the kingdom.

In fact, Mansa Musa still holds the record as the richest man that ever lived in Africa. Arguably he had four times the US$10.5billion Aliko Dangote currently holds as Africa’s richest man. But the question remains: “What happened to all the wealth Mansa Musa accumulated?” Why is Mali among the poorest countries in the world, despite all the wealth of Mansa Musa and the mineral resources?

History indicates that Mansa Musa used his wealth mostly in pursuit of territorial expansion and personal aggrandisement; such as several pilgrimages to Mecca and marrying many women. At independence in 1960, Ghana had to support Mali with a grant as part of Kwame Nkrumah’s policy of promoting economic and political integration. This is a sad commentary and reflection of how some African leaders used and continue to use the continent’s resources.

Return civilian rule

West African citizens, and by extension, all Africans, must be getting tired with the continuing unrest in Mali. For this reason, I join many Africans to demand that the military stay out of politics in Mali. Our leaders should send a strong message to the military in Mali to concentrate on their core duty of protecting the territory of Mali from jihadist invasions. Mali’s recent unrest began with a 2012 coup, hatched by soldiers opposed to what they saw as a weak response to a growing separatist insurgency by Tuareg rebels in the country’s north.

The insurgents were armed with weapons from nearby Libya, following that country’s 2011 civil war. Western powers should be partly blamed for creating the instability in Libya by ousting Muammar Gaddafi and putting Mali on the receiving end. That said, my simple understanding is that the military’s core job-responsibility is to protect the territorial integrity of their country. So, if jihadists invade the country, the military should stay and fight them; rather than interrupting the governance process.

Meddling in politics

In fact, some security analysts have argued that the recent coup was unnecessary, given that the elected government had 18 months to end its tenure. This suggests that the military in Mali has simply developed a taste for meddling in politics. Thus, they should be reoriented to accept that in this era, Africa can no longer tolerate military meddling in civilian politics.

At the Accra meeting, the military junta tabled two requests as conditions for returning Mali to civilian rule. Firstly, they asked for a three-year transition period. Secondly, they requested that the military be allowed to lead the transition. Thankfully, the leaders rejected their requests in a move that sent strong signals EOCWAS will no longer countenance the military continually meddling in civilian politics. Instead of three year-transition, the Mali military was given 18 months to return the country to democratic rule. ECOWAS leaders also turned down the military’s request to lead the transition, insisting that the transitional government should be headed by civilians.

More sanctions

ECOWAS leaders threatened further sanctions if the military leaders fail to adhere to the conditions for a return to civilian rule reached at the 15th September meeting. President Akufo-Addo told the media after the meeting that Col. Assimi Goita had agreed to engage his National Committee for the Salvation of the People (CNSP) leadership to agree on measures to implement its commitments agreed at the ECOWAS meeting.

ECOWAS leaders should be resolute in their pursuit of a lasting solution to the situation in Mali. The regional security concerns could manifest physically if the crisis lingers on. Not only will Mali descend into chaos, but instability could affect morale of the military and weaken its fight against the terrorist groups. In that case, there is a risk that neighbouring countries like Burkina Faso, Senegal and Guinea will be affected.

If it is true that Ivory Coast’s President Alassane Ouattara is bent on changing the constitution to run for a third term, he presents another challenge to EOCWAS leaders. President Akufo-Addo has the arduous task of talking to his friend to respect the constitutional arrangement of Ivory Coast. Ivory Coast remains volatile, despite some period of stability after the crisis of 2000-2010. For this reason, Ouattara’s personal ambitions should not be allowed to return Ivory Coast to the dark days.

(***The writer is a Development and Communications Management Specialist, and a Social Justice Advocate. All views expressed in this article are my personal views and do not represent those of any organisation(s). (Email: [email protected]. Mobile: 0202642504/0243327586

MTN Ghana drops it tariffs to reflect amended CST

September 20, 2020

We will continue to brighten lives – MTN CEO — CEO of MTN Ghana, Mr. Selorm Adadevoh

MTN Ghana has said it tariffs have been revised following the passage of the Communication Services Tax (Amendment) Act, 2020 (Act 1025).

In a statement issued by the telecommunication giant, MTN Ghana said the new tariffs reflect the 4 percent reduction in the Communication Services Tax.

“Tariffs for all voice calls, data and SMS have been amended to reflect the downward adjustment of the CST. In addition, MTN is giving a 5 percent bonus on all types of recharges including physical voucher, Mobile Money and EVD.”

According to MTN Ghana, the tariff adjustment took effect from the 15th of September, 2020.

The Corporate Services Executive of MTN Ghana, Samuel Koranteng said, “as a responsible corporate citizen, MTN has since the amendment of the of the law taken several steps to ensure customers enjoy the best of value propositions and enhanced experience on the network.”

He added that the adjustment will enable our customers to enjoy more talk time and browsing time for the same price of voucher or bundle they buy.

He explained that the percent bonus on every recharge can be used for all types of calls, SMS to all networks and also browse on the internet. The bonus on recharge is valid for a period of 7 days and is available until the 31st of December 2020.

Further to the enhanced voice and data values as well as the 5 percent bonus on recharge, customers will continue to enjoy the existing 100 percent Bonus on Recharge (BOR) done on the Electronic Voucher Device (EVD) and Mobile Money with a validity period of 7 days.

Also, customers who have been on the network for less than 6 months will continue to get 100 percent BOR on all airtime top-ups. 4G data bundle bonus remains the same. Again, 50 percent 4G bonus 25 percent data bonus on ‘Terrific Thursday’ offers are still available to customers.

MTN data bundle prices on TurboNet and Fibre Broadband bundles will remain unchanged even though customers will get more data volumes for their purchases.

Making sense of the COVID-19 pandemic; education post-mortem

September 20, 2020

-Reshaping Our Educational System; Prioritising STEM Education

COVID-19 is not the first global pandemic the world has faced in recent history, but the implications and impact are unlike anything most of us have experienced in our lifetimes. It compelled each country to solely rely on its own natural and human resources to survive. It has also exposed weaknesses in all sectors of the economy and provided us with the opportunity to make meaningful reforms and decisions.

As education enters its turning point, there are several reforms we need to undertake to make education relevant to reflect the 21^st-century economy. The carefully designed new curriculum for KG to Primary 6 and the Common Core Programme (CCP) for JHS 1 to SHS indicates our readiness to transform our country’s education to reflect the 21^st-century economy. Nevertheless, we must give STEM Education all the attention it needs in our quest for this remarkable transformation.

The passion, drive, and innovative thinking of scientists and STEM professionals emerge very quickly to be of service to communities around the globe who were grappling with COVID-19. STEM communities including Noguchi Memorial Institute published full genomes of the new coronavirus, Virologists explains the origin, behaviour, and future of the virus and possible treatment within an incredibly short period.

The tech sector also jumped on board quickly, leveraging artificial intelligence and cloud computing to organize and process data for statistical decisions, designing simulation, developing contact tracing apps, improving online banking, and providing Zoom virtual meetings and learning. The Innovations and role of the STEM community in the fight were numerous and magnificent which never happened by a miracle but were skills gain from conscious STEM training and education. STEM is an economic driver.

What is STEM?

STEM stands for science, technology, engineering, and mathematics. STEM integrates learning through interdisciplinary studies. It affords the application of 21^st-century learning skills. Such as Critical thinking, Creativity, Collaboration, Communication, Information literacy, Media literacy, Technology literacy, and Flexibility. STEM activities provide hands-on and minds-on lessons and skills students need for success beyond their formal education and inspire students to be lifelong learners.

STEM curriculum

A curriculum that is STEM-based has real-life situations to help the student learn. It stresses technology to connect the subjects and relating teaching to our immediate environment. STEM spreads the curriculum in ways subjects taught in isolation cannot.

How many times have students asked why they have to learn something? They do not understand how their topic of study relates to the real world beyond their classroom walls. Instead, students bemoan having to learn something they assume they will never use again. STEM address this challenge. STEM in education is both a curriculum and pedagogy.

STEM pedagogy

STEM pedagogy contains five principles that allow students to work as professionals within the disciplines of science, technology, engineering, and math while solving real-world problems in which they are interested.

STEM pedagogy also leads students to a deeper understanding of content while solving ill-defined problems. This type of pedagogy is not only good practice with “gifted students”, rather all students benefit from instruction rich in context and concepts.

STEM education requires a pedagogical shift to student-centred learning with questioning strategies to challenge students to think using higher cognitive processes.

In addition, much of the instruction is inquiry-based, experimental, and project-based lessons that encourage critical thinking and innovation while building student understanding of concepts.

STEM Benefits

STEM education has got numerous benefits which include, building resilience, fostering ingenuity and creativity, encouraging experimentation, teamwork, knowledge application, encouraging tech use, encouraging adaption, problem-solving and critical thinking.

STEM Skills

These skills are high in demand in all sectors and critical to individual employability and career success. These include problem-solving skills, creativity, inquiry skills, maths and science skills, intellectual curiosity, engineering and designing skills, critical thinking, collaboration, analytical skills, innovation, communication skills, argumentation skills, adaptability, and balanced life.

STEM Careers / Occupations

STEM careers are male-dominated and high in demand with fat wages.

There are hundreds of STEM Occupations, these include Biomedical Engineer, Forensic Science Technician, Environmental Engineer, Epidemiologist/Medical Scientist, Financial Analyst, Civil Engineer, Mathematician, and Statistician.

Ghana’s steps towards STEM Education.

Centre for Excellence in Education (CEE) has developed an index of STEM education preparedness. The index gives our policy-makers and educators an important tool to see how well our next generation of innovators compares to those in the rest of the world. This tool is critical to any analysis of how we prepare the next generation of leaders. China is ranked first followed by Korea and the USA. No African Country is among the top 29. Chinese success at STEM Olympiads has correlated with the growth of the Chinese economy. To make a remarkable entry and impact in the STEM index, Ghana has set up about 30 STEM academies across the country encouraging youngsters especially females to consider STEM education.

Therefore, Ghana must make STEM a priority in order to build a resilient country. It will consist of reshaping our educational system and orienting it toward a skill-oriented educational system where young Ghanaians will be equipped with tools and skills needed to not only enter the job market but also prepare for the disruption of the future of work.

The writer is with Prabon D/A Basic School, Bosomtwe District, Ashanti Region / Member, Institute of ICT Professionals Ghana.

For comments, contact [email protected] / +233249277160

Prostate Cancer: a clear case of res ipsa loquitur & why corporate entities must intervene!

September 20, 2020

September marks the global prostate cancer awareness month and brings the disease into the national limelight. In my new 900-page book yet to be launched on 26^th September 2020, page 1, I said that “every man has a prostate, but every prostate doesn’t have to make a man’s life miserable. However, this small gland is a source of men’s grief if it goes wayward. I likened Prostate cancer in black men to some supervillains in a fictitious book. Hence, Prostate cancer strikes a special chord with me, why? It is a very aggressive cancer in black men, in part because it’s discovered at very late stages when it’s highly advanced and appears as if there is nothing to be done to cure it. There is also another headache for black men: After conventional treatment, this cancer comes back for 75 percent of black patients. And this time, it usually comes back in a drug-resistant form. High-grade prostate cancer appears as one of the biggest supervillains out there in comic books”.

The stats not favorable for Ghanaian men

Prostate cancer affects about 60% of black men. The Ghana Cancer Control Strategy plan document revealed the following incidences of prostate cancer in Africa: Ghana >200/100,000, Nigeria 127/100,000 and Cameroun 130/100,000. Prostate cancer in Ghana appears as ‘no one care’ business! Interesting, a survey by the Korle-Bu Teaching Hospital has revealed in 2006 that Ghana has exceeded global prostate limits as the country records 200 cases out of every 100,000 men as against 170 worldwide.

This revelation was released by Dr Mathew Kyei, a Urologist, at a Ghana Health Service monthly programme in Accra. According to the urologist, the situation called for immediate attention from the government and the public to reverse the trend (Modernghana 2007). Speaking on the topic, “Cancer Disorders in Ghana”, he said in 2006, 60 per cent of all cancers reported at the Korle-Bu Teaching Hospital were prostate cancers, adding that 27 people died from the disease in 2005 alone.

Also, Hsing et al 2014 performed a population-based screening study with biopsy confirmation in Ghana. The research aims to estimate the prostate cancer burden in West African men. The study authors randomly selected 1,037 healthy men 50 to 74 years old from Accra, Ghana for prostate cancer screening with prostate-specific antigen testing and digital rectal examination. Men with a positive screen result (positive digital rectal examination or prostate-specific antigen greater than 2.5 ng/ml) underwent transrectal ultrasound-guided biopsies.

Their result revealed that of the 1,037 men 154 (14.9%) had a positive digital rectal examination and 272 (26.2%) had prostate-specific antigen greater than 2.5 ng/ml, including 166 with prostate-specific antigen greater than 4.0 ng/ml. A total of 352 men (33.9%) had a positive screen by prostate-specific antigen or digital rectal examination and 307 (87%) underwent biopsy. Of these men 73 were confirmed to have prostate cancer, yielding a 7.0% screen-detected prostate cancer prevalence (65 patients), including 5.8% with prostate-specific antigen greater than 4.0 ng/ml.

They concluded that in this relatively unscreened population in Africa the screen-detected prostate cancer prevalence is high, suggesting a possible role of genetics in prostate cancer etiology and the disparity in prostate cancer risk between black and white American men.

After hepatocellular cancer, prostate cancer is the second leading cause of male cancer deaths in Korle Bu Teaching Hospital (Wiredu 2005). In 2009, 185 new cases of prostate cancer were diagnosed at Korle bu teaching hospital with 37 deaths. The number of prostate cancers reported has generally risen annually possibly due to earlier detection using the prostate-specific antigen (PSA) blood test, increased patient awareness, increased lifespan, and possibly environmental factors.

The burden of prostate cancer is likely to increase with the ageing of the Ghanaian population, and this has major public health and economic implications. Evidence of early prostate cancer can be found at any adult age (WA et al 1996) but it is more common in men over 60 years of age(Yarney et al 2011). When it progresses and becomes more advanced, prostate cancer can kill men of any age.

A report from the Daily Guide newspaper also indicated that seventy percent of cancer deaths in Ghana could be prevented if healthy lifestyles are adopted and early detection is made, this was attributed to Dr Efua Commeh of the Non-Communicable Disease (NCD) Programme, Ghana Health Service (GHS). Dr Commeh indicated that of the 16,000 new cancer cases recorded yearly in the country, more than 44 percent results in deaths.

Data from the Ghana Health Service (Fig 2, fig 4) shows that 3052 cases of cervical cancer were recorded in 2015 out of which 1556 died, representing 51 percent, breast cancer also recorded 2260 cases with 1021 deaths, representing 45 percent, prostate cancer has 912 cases being recorded with 680 deaths, representing 75 percent.

Recent Prostate Cancer Studies:

Prostate cancer is underestimated subject in Ghana, yet more men are battling with the disease. There are also more studies revealing the high incidence and death of the disease in Ghanaian men. For instance, one 6-year research studies by Egote et al 2019, aimed at reducing the paucity of data on prostate cancer by assessing the incidence, patterns and presentation in the Brong Ahafo Region of Ghana and also sought to provide region-specific hardcore data that will help to assess the issue and provide remedies.

The study authors reviewed all prostate disease cases recorded from the year 2009 to 2014. They employed men from 40 years (based on previous studies) and above were eligible for screening. Diagnostic and screening tools for prostate cancer at the study site were family history, serum prostate-specific antigen (PSA) test, digital rectal examination, urological ultrasound scan and histopathology (biopsy).

Age, PSA values and year of screening/diagnosis were also retrieved from their folders/archives for the purposes of the study. Histological findings and parameters considered in the study included diagnosis, carcinoma grading, perineural invasion (PNI)- and percentage of affected tissues (%TA).

The researchers revealed that Prostate cancer constituted 236 cases (40.07%) of the 589 prostate diseases reviewed. The highest annual prevalence was recorded in 2014 with an incidence rate of 21.6% (51 cases). Interestingly enough, the ages of patients ranged from 46 to 101 years with a modal age range of 70 – 79 years. The mean PSA value recorded was 37.5 ng/ml with predominance in the 11 – 20.9 ng/ml (61 cases/patients) (27.9%) range. Moderately differentiated adenocarcinoma (intermediate grade) was the dominant grade of prostate cancer accounting for 61.4% (145 cases) of the 236 cases.

There was a significant correlation between grading of prostate cancer and perineural invasion. The study authors further revealed that only 21.2 percent of graded cancer cases had perineural invasion with >50% affected tissues found in half of them.

The study authors concluded that “there is a high incidence (40.07%) of prostate cancer in the Brong Ahafo Region of Ghana, presenting mostly with advanced prostatic carcinoma. Reported cases also show high %TA (Tissues Affected and PNI (Perineural invasion). Development and implementation of public health interventions are needed to address some of these issues”. The study authors proposed the development and implementation of public health interventions to address this.

Interesting, in a more recent 10-year study conducted by the same author, Egote et al, 2020, affirms that Prostate cancer is gradually reaching a very high incidence in Africa, especially in the Sub-Saharan region. This same study was conducted in the Brong Ahafo Region of Ghana. All prostate disease cases recorded from the year 2009 to 2018 were retrospectively reviewed. Subjects from 40 years and above were eligible for screening. The result revealed a high incidence of prostate cancer in the Brong Ahafo Region of Ghana (32 per 100,000).

DISCUSSION

Prostate cancer Mortality compared to Liver Cancer

Liver cancer had the highest fatality (Fig 2, Fig 3) rate of 97 percent, claiming 1,856 lives out of 1923 cases recorded with 1,000 childhood cancers being recorded. With liver cancer only 3% are able to survive it, 49% survive cervical cancer, 55% survive breast cancer and only 25% also do survive prostate cancer. This is very worrying as the country itself has no well-defined national cancer register to be able to collate all the figures. This assessment is based on the Ghana Health Service data in 2015 published in the Daily Guide newspaper.

There is currently no effort to tackle the high mortality rates in the country. Prostate cancer is a major problem in Ghana, yet fewer men receive regular screening. Incidence and mortality rates are among the highest in the world, with the age-standardized mortality rate from prostate cancer reported as being more than three times the global rate.

The reasons for these high rates include a lack of investment and weak governance in the recent past. Interestingly enough, there is only one active prostate cancer charity fighting the disease; Men’s Health Foundation Ghana. The charity has become the national peak body of prostate cancer pushing for national policies. The problem with the charity has to do with funding and government support.

Prostate Cancer death rate beats Breast and Cervical Cancer.

Interesting, Prostate cancer mortality rate in Ghana supersedes breast and cervical cancer (Fig 6). This means that more men are dying from Prostate Cancer than women cancers (fig 2, fig 3, fig 4). Prostate cancer mortality rate is as high as 75% compared to Cervical,51% and Breast Cancer, 45% respectively (fig 3). This also means that a Ghanaian man’s chances of surviving prostate cancer if diagnosed is very slim 25%, compared that to women’s’ cancers in Ghana (fig 3). This could be akin to Real Madrid or Barcelona football stars playing a local team in Ghana; obviously, many would tip or bet for Real Madrid or Barcelona to win the game. This is our situation or story as men when we are faced with prostate cancer in Ghana. With women’s cancers, it almost 50:50 affairs in Ghana; anyone could survive with the right tactic and support (fig 3)

Prostate Size in Ghanaian Men

Egote et al, 2018 also reported a patient with prostatic hyperplasia weighing exactly 700g. Prostatic hyperplasia of enormous size is very uncommon and to the best of their knowledge, only ten of such cases have been previously reported. Their case reported constitutes the eleventh heaviest prostate reported in medical literature and also forms the first case report of giant prostatic hyperplasia from Ghana.

Age as a risk factor for prostate diseases in Ghana

To assess the risk age for prostate diseases in Brong Ahafo Region, Egote al 2018 research further employed a selective prospective study to review prostate cases from 2009 to 2014. Subjects were selectively recruited for the study using the reference age of the study location (40 yrs) – men from 40 years and above were eligible for testing. They concluded that Ghanaian men between the ages of 50 and 89 are highly predisposed to prostate diseases compared to those <50 years and >89 years. “This observation may provide a rationale for effective medical or preventive interventions especially among Ghanaian Adults”. They added.

Increased risk in military occupations in Ghana

Adler et al 2019 study this case and revealed that risk was increased among men in management and military occupations. Risks were also elevated for management and military-specific jobs based on 3-digit level Standard Occupational Classification definitions. Sensitivity analyses accounting for access to medical care did not show significant differences. The study authors aimed to evaluate the association between usual adult occupation and Prostate cancer risk in Ghanaian men, a population with historically low rates of Prostate cancer screening.

The study dubbed the Ghana Prostate Study, a case-control study of Prostate cancer that was conducted from 2004 to 2012 in 749 cases and 964 controls. In-person interviews were conducted to collect information from participants, including longest-held job. Industrial hygienists classified job titles into occupational categories. Unconditional logistic regression was used to calculate ORs and 95% Cis(Odds ratios (ORs), confidence intervals(Cis)) for the association between longest-held job and Prostate cancer risk (overall, aggressive (Gleason≥7)), controlling for potential confounders.

The study provides some evidence for increased risk of Prostate cancer among men in management and military occupations, which is consistent with the published literature. However, they concluded, “Additional research is needed to clarify the drivers of the associations between these occupations and Prostate cancer risk”.

Prostate cancer also tops in Men in Kumasi Municipality

Another 2019 recent study by Amoako et al, revealed that prostate cancer had the highest incidence of 10.5 per 100,000. The mean age of all cancer cases was 51.3 years (with a range of 1 to 99 years). The study authors reviewed data from the Kumasi Cancer Registry for the year 2015. Data collected included clinical and demographic information, laboratory reports and source of case information. Data was entered into the Canreg-5 software. Data were initially analyzed using Canreg-5 to estimate the incidence and age-standardized rates (ASR) for various tumours. Data was also exported to Microsoft Excel for further analysis using Epi Info version 7.1.4. Microsoft Excel was used to generate charts and graphs. Aggregated data for the years 2013 and 2014 were also analyzed for trends in cancer incidence and ASR.

One interesting thing about this Kumasi’s study that focused on all cancers is that the study authors also found that, lung and skin cancers are rare. Here is what they said “Our report indicates that breast cancer is the commonest female cancer in Ghana and is consistent with other evidence. The leading male cancer reported in this study is consistent with other local and international reports. Lung and skin cancers are rare in Kumasi”.

Challenges

The country Ghana is limited with cancer centers and the treatment cost also being expensive. A lack of coverage for cancer treatment under the NHIS in Ghana makes it difficult for the less privileged to access and sustain cancer care at any stage of the disease. Counselling centers or quality of life care (QOL) support systems are virtually non-existent in all regions of the country and our cancer treatment centers. Post-treatment support is a huge challenge to men diagnosed with prostate cancer dealing with managing side effects.

A lack of affordability for the treatment then results in high rates of treatment abandonment, which in turn leads to patients seeking traditional and other means of treatment from unqualified traditional and alternative practitioners. Records at the nation’s cancer centers indicate that majority of cancer cases are presented late when the disease has reached terminal stages.

Many of these late presentations are attributed to factors such as inadequate or lack of cancer awareness and the inability of most patients to finance their cancer care. As many advanced cancer cases are presented for treatment, palliative care and pain relief become very critical. At those stages, effective treatment of the condition eludes the hardworking cancer care professionals.

Ghana falls in the category of countries with less than 25 per cent of cancer patients able to access radiation treatment and with a population of over twenty-nine million, out of these cases, more than half would require radiation therapy for treatment. However, not more than 5,000 new cancer cases are treated per year in the country’s three radiotherapy centres. This leaves the country with an average shortfall of about 30,000 new cancer cases that would require radiation treatment yearly.

Cancer Treatment Centres

In Ghana, The Ghana Atomic Energy Commission (GAEC), in partnership with the Ministry of Health, in order to address the national cancer challenges established two national radiotherapy centres at the Korle Bu and Komfo Anokye Teaching hospitals, in assistance from the International Atomic Energy Agency (IAEA).

There is also one privately-owned Sweden Ghana Medical Centre (SGMC) Cancer Centre. The pathology units in the nation’s major hospitals with these cancer treatment centers have contributed immensely to cancer care in the country over the years.

Data from the International Atomic Energy Agency (IAEA) suggests that developed countries averagely have one radiation therapy machine per 250,000 populations. According to the 2017 IAEA publication, in high-income countries, one radiotherapy machine is available for every 120 000 people. In middle-income countries, one machine serves over 1 million people. In low-income countries, about 5 million people rely upon a single radiotherapy machine. Ghana with a population of over thirty million has only three radiation centers

In the wake of increasing cancer incidences in the country, challenges such as improperly coordinated cancer awareness programme, lack of dedicated cancer prevention and screening centres, inadequate medical imaging and cancer treatment centres, and over-aged cancer management facilities and equipment should be well addressed.

Population at Risk of Prostate Cancer in Ghana

In this area, the methodology will be based on taking a cue from the final results of the 2010 Population and Housing Census (PHC). It showed that the total population of Ghana as at 26th September 2010 was 24,658,823. The results indicated that Ghana’s population increased by 30.4 percent over the 2000 population figure of 18,912,079. The recorded annual intercensal growth rate in 2010 was 2.5 percent as against 2.7 percent recorded in 2000.

The results revealed that there were 12,633,978 females and 12,024,845 males. This implied that females constituted 51.2 percent of the population and males 48.8 percent, resulting in a sex ratio of 95 males to 100 females. It also showed an increase in population density from 79 people per square km in 2000 to 103 per square km in 2010.

Fig 1 indicates Prostate Cancer Life Time Risk Calculation using projected Population growth (2010-2019) and Egote et al 2019 Brong Ahafo Study

National Breakdown (2010)

Sex Figure Percentage Ratio Annual

Growth Rate

Females 12,633,978 51.2% 0.100 2.5%

Males 12,024,845 48.8% 0.95 2.5%

24,658,823

Projected Population growth for 2019

Brong Ahafo (B/A) National

Male Population (2010) 1,145,271 12,024,845

Male Population (2019) 1,402,957 14,730,435

[Projected at 2.5% p.a.]

Population at risk of Prostate Cancer in 2019 Egote et al

Brong Ahafo [40.07%] 562,165

National [40.07%] 5,902,485

Working out the Ghanaian Men Life Time Risk of Prostate Cancer

The researcher used different types of data about who gets prostate cancer annually in Ghana based on the literature reviews
The number of men diagnosed with prostate cancer and their ages annually

Information on annual deaths from Prostate cancer based on the Ghana Health Service(GHS) 2015 report

Information about the population of Male in Ghana (from the Population and Housing Census 2010 report (PHC) and projected 2.5 annual growth rate.
Egorte et al 6-Year Single-Center Retrospective Study, 2019 findings which placed Men in the Brong-Ahafo Region to 40.07% of been affected by prostate cancer to represent the national outlook of the disease.

Results:

The Researcher used all this information to calculate Ghanaian men’s lifetime risk of getting prostate cancer.
The Researcher found out that 4 out of every 10 male or 2 out of every 5 Ghanaian men will be diagnosed with prostate cancer at some point in their lives.

The researcher will regularly review this work to make sure that men get the most up-to-date information about prostate cancer risk in Ghana.

Using the Brong Ahafo figure of 40.07% as national average brings 5,902,485 of the estimated current male population of 14,730,435 (based on the 2010 PHC male figure of 12,024,845 as adjusted by 2.5% annual growth rate) at risk of the disease.
Using the Brong Ahafo figure of 40.07% as national average brings 5,902,485 of the estimated current male population of 14,730,435 (based on the 2010 PHC male figure of 12,024,845 as adjusted by 2.5% annual growth rate) at risk of the disease. This implies that 4 out of every 10 male or 2 out of every 5 male of whatever age in Ghana are at risk of getting prostate cancer and this must call for national dialogue by all the stakeholders.
This means 4 out of every 10 male or 2 out of every 5 male of whatever age in Ghana is at risk and this must call a national dialogue of all stakeholders.

Annual prostate cancer death is 75% in Ghana based on Ghana Health Service 2015 data (fig 3, fig 4)

What is Lifetime Risk?

There are different ways of explaining a man’s risk of getting prostate cancer. For instance, according to research studies, Black men have three times chances more likely to develop prostate cancer than white men of the same age. This way of explaining risk is called relative risk and it means the difference in risk of one group of people compared to another. According to the Prostate cancer UK, “This information is still correct – it is just a different way of explaining a man’s risk of getting prostate cancer”.

So we know that 4 out of every 10 male or 2 out of every 5 Ghanaian male will be diagnosed with prostate cancer at some point in their lives. This is their lifetime risk of getting prostate cancer. What it means is that, the risk that a Ghanaian male has of being diagnosed with the disease at some point during their life. According to reviews, people find lifetime risk a clear way of understanding their chances of getting a disease such as prostate cancer.

Fig. 4 Annual Prostate Cancer incidence rate in Ghana: More men die of prostate cancer now in Ghana according to Ghana Health Service 2015 report

Fig 5

Ghanaian Man’s Risk of Getting Prostate Cancer by age 50

2 in 5

♂♂

♂♂♂

Don’t Let it Be You!

Fig 6. Comparing fatality: Prostate cancer topples Breast and Cervical Cancer

Conclusion:

The study author, a prostate cancer researcher and advocate in Ghana, has been looking at ways to explain to Ghanaian men their risk in a clear way that they can help them relate to the disease. This will help us raise awareness of prostate cancer and help men understand their risk. The researcher finally worked out that 4 out of every 10 male or 2 out of every 5 male will be diagnosed with prostate cancer at some point in their lives.

Using the Brong Ahafo figure of 40.07% as national average brings 5,902,485 of the estimated current male population of 14,730,435 (based on the 2010 PHC male figure of 12,024,845 as adjusted by 2.5% annual growth rate) at risk of the disease. This means 4 out of every 10 male or 2 out of every 5 Ghanaian male of whatever age in Ghana is at risk and this must call a national dialogue of all stakeholders. Now the message is simple: Time to take action on prostate health in Ghana!

National Intervention Needed

In 2015, during the John Dramani Mahama’s administration, I proposed Fathers’ Day to be declared as National Day for Prostate Awareness; but it later turned into ‘Medical Politics’. I think this is the right time for corporate entities, political parties to prioritized men’s health and consider the proposal for Fathers’ Day to be declared to raise awareness of prostate cancer. The current government also promised a special cancer policy in their 2016 Manifesto, yet nothing has been done! Egote el al research studies on the state of prostate cancer in Ghana would have been given priority in a different jurisdiction.

The national intervention should also incorporate all healthcare sectors. The Urological community cannot WIN this war on prostate cancer in Ghana alone without engaging those in traditional and alternative medicine sector. The fight against prostate cancer is a holistic approach and not a single enterprise affair. I was very impressed in 2018 at the Prostate Cancer Transatlantic Consortium Conference at the University of Ilorin, Nigeria, when, a renowned Professor of Urology confirmed that there is no way anywhere the fight on prostate cancer can be won without engaging traditional medicine practitioners as they are the first place patient visits, besides, traditional and alternative medicines have been accepted and recognized in Ghana based on the statute (Traditional Medicine Practice Act 575).

Besides, the Ghana Health Service Patients Charter also affirms that the patient has the right to know of alternative treatment(s) if it will improve on his quality of life. Additionally, gone way the days where people are of the view that these practitioners are unschooled. It gradually becoming a thing of the past! I studied the first-ever Master’s module program in Prostate Cancer care at Sheffield Hallam University, UK, coupled with my background in Holistic Medicine. So you can’t say, I have no knowledge in prostate cancer because am a holistic doctor!

Additionally, in 2017, a research conducted by Kyei et al aimed at identifying Ghanaian traditional medicines used for the management of prostate diseases and their constituents affirms this admission: “In our experience some patients request to be offered an option of traditional medicine in the normal urology clinics for prostate diseases. (Personal communications) Knowledge of the currently available traditional medicines for the management of the prostate disease will equip practicing Urologists and Medical practitioners to enable them to appropriately counsel patients on the use of these medications”.

We need a clear pathway to prostate cancer in Ghana. This is the time for the urological community to develop policies and work with all healthcare sectors in the country. In the UK, there is the Prostate Cancer Risk Management Program for black men 40 years and above, likewise in Jamaica, the Urological community have developed programs on prostate cancer. Training should be provided to all healthcare workers who have interests in men’s health

Corporate Entities

For the corporate world, this is the time to put the health of your men; organize annual screening and awareness program. Healthy prostate should start from 30 years now!

In submission, Everyman has a prostate; but every prostate doesn’t have to make a man’s life miserable. The prostate gland is the ‘powerhouse’ of every man. Angela Culhane of Prostate Cancer UK 2016 article “Ignoring Prostate Cancer Won’t Beat It, Joining the Fight Will” drew my attention to the prostate cancer situation in Ghana. According to Angela, “Size definitely isn’t everything where the prostate is concerned. This little gland, hidden from sight just below the bladder, is only about the size of a walnut. But when it goes rogue, a man’s life can be over”.

Further, she said, “Surely men wouldn’t ignore the prostate if they knew what it could do to them. So why do they? Is it because the gland is invisible and out of sight is out of mind? Or that men don’t want to think about any problem below the belt? Or they don’t believe prostate cancer is a real problem because it doesn’t hit the headlines? Or perhaps the myth has taken hold that prostate cancer is a disease that men die with and not from”

Ghanaians have ignored prostate cancer. Prostate cancer in Ghana appears as ‘no one care’ business! Interesting, a survey by the Korle-Bu Teaching Hospital has revealed in 2006 that Ghana has exceeded global prostate limits as the country records 200 cases out of every 100,000 men as against 170 worldwide. This revelation was released by Dr Mathew Kyei, a Urologist, at a Ghana Health Service monthly programme in Accra. According to the urologist, the situation called for immediate attention from the government and the public to reverse the trend (Modernghana 2007)

Speaking on the topic, “Cancer Disorders in Ghana”, he said in 2006, 60 per cent of all cancers reported at the Korle-Bu Teaching Hospital were prostate cancers, adding that 27 people died from the disease in 2005 alone. Egote et al, 2019 and 2020 work has provided the rare picture of the state of affairs of prostate cancer in the then Brong Ahafo Region, which I have truncated it into the national picture. According to Egote et al 2019, 40% of men in the then Brong Ahafo region were affected by prostate cancer after their 6-year study. What are we doing as a nation?

I, therefore, end with this legal phrase, res ipsa loquitur- Latin for “the thing speaks for itself,” and from the prostate cancer studies, the situation is speaking for itself in Ghana. Time to wake up to fight it!

Photo: Dr. Raphael Nyarkotey Obu, RND, PhD

>>>Dr. Raphael Nyarkotey Obu is a renowned holistic doctor and Vinnytsia State Pedagogical University, Ukraine, honorary professor of holistic and Naturopathic Medicine and currently pursuing, LLB law/MBA concurrently. President of Nyarkotey College of Holistic Medicine & RNG Medicine Research Lab, Tema community 18. He is the formulator of FDA approved Nyarkotey Hibiscus Tea for Cardiovascular Support and wellness, Men’s Formula for Prostate Health and Women’s Formula for wellness. Contact: 0241083423/0541234556

Ghana’s Most Beautiful 2020 – who wins the crown

September 19, 2020

Ghana's Most Beautiful (1) — Photo: Some of the Ghana's Most Beautiful finalists

All is set for the big night as the debate continues on social media with people promoting and canvassing for votes for their favorite contestants. Who wins the ultimate prize and becomes the 2020 Ghana’s Most Beautiful Queen?

It promises to be a night of glitz and glamour accompanied by fierce competition on Sunday, September 20, 2020, when the six finalists mount the stage to compete in the grand finale of the 2020 Ghana’s Most Beautiful.

Which of the six finalists is likely to win the crown? Kafui of the Volta Region, Afriyie of the Central Region, Greater Accra’s Naa, Ofosua from the Eastern Region, Zuzu, the pride of Northern Region, Talata of the Upper East Region or Ahafo Region’s Abena?

To add to the fun and excitement on the night will be the multiple award-winning musicians, Adina and Kidi, the sensational singer, Camidoh and Mentor Reloaded winner, Optional King. Legendary group, Praye, will also be performing on the night.

Ghana’s Most Beautiful is a platform for showcasing and educating members of the general public on the rich Ghanaian culture and other elements shared by members of various societies in all the regions across the country.

Coming Soon: New Akwaaba Magic Channel On DStv

September 19, 2020

MultiChoiceShowCase2020-89 — Photo: Cecil Sunkwa Mills.

MultiChoice Ghana has hosted a content showcase at its plush head office rooftop in Abelenkpe, Accra. The showcase, the first of its kind, exposed media, bloggers, stakeholders and some celebrities to a portfolio of new shows, channels and upcoming projects that DStv and GOtv subscribers can look forward to in the coming months.

MultiChoice Ghana, MD, Cecil Sunkwa Mills, speaking during the showcase highlighted the commitment by Multichoice Ghana to grow its investment to local content industry with the launch of a 24 dedicated channel for Ghana.

In a video message from Brand De Villers, MultiChoice Africa CEO, he reiterated the contribution MultiChoice had made in Africa over the last 25+ years. ” Our contribution has been one of creating shared value in the broadcasting sector on the continent. We have not only invested in the best local and international content, but we have also established long-term partnerships through the value chain which has helped grow and develop communities he adds.”

Answering from ace broadcaster Richard Quest, in a televised video played back during the media showcase, Calvo Mawela, Group CEO of MultiChoice Africa, announced that this year MultiChoice Africa will be focusing on four countries including Ghana. Explaining that the strategy for the coming year will be to go “Hyper-Local” by strengthening the content from countries like Ghana; with the introduction of more local content and productions that will resonate with our customer in these countries.”

In line with the Hyper-Local strategy, Kenndey Dankyi Appah, Channel Manager for the new channel Akwaaba Magic called on content makers in Ghana to avail themselves of the new Ghanaian channel that will go live in March 2021. He explained, “our customers in Ghana have longed for a dedicated Ghanaian content channel and we have listened. In March 2021, MultiChoice Ghana will be introducing a wholly Ghanaian channel to be called Akwaaba Magic on DStv.

“Local content is a key differentiator for us, and we intend to continue producing more of it for our various markets” Mercy Clottey, GOtv Ghana Marketing opened with when she shed light on the new shows coming to DStv and GOtv for the rest of the year. As Africa’s most loved storyteller, MultiChoice will in April 2021 introduce a new African Lifestyle Channel that will showcase the rich lifestyle, culture and foods from across the African continent. This Pan-African channel will spot content from various regions on the continent with a strong cross country appeal

MultiChoice Ghana also announced the addition of four new channels that launched on DStv from September 14, 2020. The channels offer viewers more content and provide more choice and variety for lovers of movies, novellas and for kids. Among the shows that premiered are TLNovelas: A English-dubbed Mexican telenovela pop-up channel which landed on DStv on Monday, September 14, 2020, and is available on DStv Compact. A new channel KIXX is available on DStv Compact. This channel promises to bring viewers all the best scenes from all-time favourites such as Jackie Chan to Bruce Lee.

Timeless Drama Channel offers a unique genre of high-budget English-dubbed series from Turkish producers set in the background of beautiful Istanbul and Anatolia, focusing on riveting stories full of emotion and passion that are tightly woven around Turkish values, symbols and culture with unique soundtracks. TVN is an explosion in K-Pop and K-drama offering Korean content. It would be available to DStv subscribers from 1^st November.

For kids, a new pop-up channel called ZooMoo would launch on October 1, 2020. The channel would have content with a unique mix of live-action wildlife combined with animation, puppets child-friendly factual programs, profiling animals, their habitat, what they eat, etc. Accompanied by the free ZooMoo App which kids can download on their devices, this channel would offer a complete multi-screen environment, synchronized on a real-time basis with the channel.

“Bringing top-quality international content to Ghanaian screens is a key part of our mandate. We are constantly reviewing our content to offer our audiences a fresh and exciting slate every so often. The launch of these four channels is testament to the fact that we are always searching far and wide to extend the largest portfolio of content that we offer on our platforms,” said Anne Sackey, Head of Marketing, MultiChoice Ghana.

In addition to this wide variety of entertainment content, Multichoice Ghana continues to bring subscribers the best local and international sporting content including the best and biggest leagues such as Premier League, La Liga, Serie A and the UEFA championships, golf, cricket, basketball, athletics, Tennis, Formula 1, WWE, UFC and many other feature sporting events.

MultiChoice Ghana has also dedicated resources and the best expertise to ensure it continuously improves the way in which customers interact with the business via self-service platforms including the MyDStv and MyGOtv apps, *759# service, Pay Buddy and self-service on Whatsapp. “It is only by improving our customers’ experience, offering them more convenience, value for money, and delivering high-quality entertainment can we continue to provide our customers with the best entertainment there is, anytime and anywhere,” Gwendoline Okwabi, Marketing Manager, DStv Ghana concluded.

Wrapping up the Content Showcase for 2020, Nii Amah Dagadu, Corporate Affairs Manager, MultiChoice Ghana said “our mission is to deliver value to our customers by making great entertainment more accessible. We will continue to find and develop the right mix of content and deliver anytime, anywhere. Whether it’s local telenovelas, world-class sport or the latest global blockbusters, our investment in content and technology systems deliver the shows that people love into their hands and their living rooms.”

MUSIGA discounts registration fees

September 19, 2020

The National Executive Council (NEC) of the Musicians Union of Ghana (MUSIGA) has announced new rates for renewal of membership.

A statement from the union, signed by the acting president, Bessa Simons, indicates that, in a recent NEC meeting, it was agreed that in view of the effect of COVID-19 pandemic on musicians, a relief package should be designed as one of the membership benefits; hence the reduction of the membership renewal fee to GH¢65.00.

The NEC also decided that new members will now pay GH¢75.00 to join the Union. The new rates are effective from Monday, September 14 to November 14, 2020. The decision by NEC is to encourage members to renew their membership despite the debilitating effects of the pandemic and also afford new members the opportunity to join MUSIGA in these trying times.

MUSIGA was formed in 1974. The Union operates in all regions of Ghana.

Accra Mall Green Survival Pack scheduled for Sept 21

September 19, 2020

accra-mall-external-exited-2012 — Photo: Accra Mall

As part of Accra Mall’s Corporate Social Responsibility (CSR), Ghana’s first large-scale mall is set to outdoor the Accra Mall Green Survival Pack project on September 21, 2020 to provide food supply and sanitation boxes for vulnerable families in Accra.

Speaking on the rationale for the project which is in collaboration with Give Back Ghana, Marketing Manager of Accra Mall, Anthony Asamoah said: “As a brand which cares for our community, we have decided to support deprived communities with 500 essential food supply and sanitation boxes along with 1,000 face shields to residents at selected communities. This is our way of ensuring that the vulnerable are well-cared for during his period.

“We conducted a survey in Shiashie, Spintex, Madina, Bawaleshie and Okponglo to identify struggling families who need support the most. The relief items will be delivered to individual homes to support such families,” he added.

Photo: Anthony Asamoah- Marketing Manager, Accra Mall

Aside the Accra Mall Green Survival Pack, the mall organizes the Future Fashion Fund and several other CSR endeavors. The Future Fashion Fund comes off annually to showcase the talent of budding fashion designers with the winner awarded a cash prize and a pop-up stall at the mall.

The Accra Mall, commissioned on July 4, 2008, is one of the most modern western-style shopping centres in West Africa and the first large-scale mall in Ghana.

The mall is an enclosed fully air-conditioned shopping centre. It has a retail space of 21,311 square metres with parking for over 660 cars.

The Accra Mall is anchored by South African giants, Game and Shoprite and accommodates over 70-line shops, a radio station, a 5-hall cinema and 12 restaurants of which 50% are operated by Ghanaian retailers.

Celebrating African stories told by Africans: ’10,000 Stories’ and more from MultiChoice

September 19, 2020

Africa’s most loved storyteller Multichoice is committed to continuing the journey of storytelling for years to come.

At the heart of this commitment is the desire to tell stories that resonate with Africans throughout the continent, stories that echo shared sentiments of triumph, success and growth, stories that share ideals, beliefs, embrace change and encourage diversity. It is through these stories that we can come together as one.

This promise to showcase the best of African storytelling is perfectly captured in the “10 000 Stories” promo which was launched as part of the recent Multichoice Media Showcase.

This creative masterpiece was the brainchild of poet and writer Lebohang Mashango.

It explores themes around diversity, innovation, local content, international content, sports and general love for stories.

Brought to life by Mashango and other talented African poets, it is an ode to all who have been part of the journey, celebrating the legacy of the MultiChoice and the more than 10 000 stories which have been told over the years.

“I drew inspiration from Maya Angelo and the grand idea explored in most African philosophy. The idea that one individual is amplified when standing as a collective ‘I come as one but, I stand as 10 000’, the core of the poem is around collectivism and collaboration, something storytelling does so well.

Stories are a way of preserving memories and making history and Multichoice through its existence has made history, changing the ritual around coming together. The modes of viewing content may change with technological advancement, however, the essence of storytelling as preserving history does not change,” Lebohang Mashango.

Multichoice has been telling African stories for over 20 years, reaching far and wide across the continent. Its DStv and GOtv platforms have continued to grow over the years, launching numerous local channels with more planned as the group increases its local content investment.

“Storytelling plays a critical role in our society; it shapes the hopes and dreams of our youth – it cradles aspirations while positively changing pre-conceived ideas on what the world has to offer. It is through storytelling that many dreams are expressed, and it is through storytelling that our people learn that as much as we are diverse, we are also quite similar,” says Cecil Sunkwa Mills, Managing Director, MultiChoice Ghana.

MultiChoice is determined to continue showcasing unforgettable stories that cater to a diverse audience.

At the heart of MultiChoice’s reason for existence is to provide customers with variety and choice, it is with this in mind that the company is focused on enhancing its innovation, value and local entertainment offering.

“We are proud to have been at the forefront of enhancing the local television industry, by investing in original productions which showcase authentic stories and talent across our continent. Great stories either reflect reality or create one, we are aiming to create a reality that is progressive, inclusive and forward-thinking,” he added.

Rotary District 9102 celebrates WHO African Region wild-polio eradication efforts

September 18, 2020

Rotary service clubs Rotary International and The Rotary Foundation believe solving real problems takes real commitment and vision.

In working to demonstrate lasting change in our communities and around the world to ending the fight against one of humanity’s most devastating diseases, Rotary International and partners as well as all ‘End Polio’ campaigners celebrate great victory toward the eradication of Polio in the WHO African region.

Polio remains prevalent only in Afghanistan and Pakistan, but it is crucial to continue working on keeping other countries polio-free – as clogged eradication efforts today could cause paralysis again. Just as the world eradicated small-pox, polio eradication is equally possible as sustained efforts to push polio out, if completed, will help achieve Polio-free world.

At the Sakasaka Park in Ashaiman, near Tema, the ‘End Polio’ billboard was unveilled by Rotary District 9102 to mark the achievement of 54 African countries in helping eradicate wild polio, a vaccine-preventable disease in Africa, under the theme ‘End Polio Now’.

Polio is an infectious disease caused by the Polio virus, affecting many children under the age of 5 years. This is contracted primarily through food and water. As a preventable disease, the Polio vaccine helps to protect the child for life when administered multiple times to children below the age of 5 years. Thousands of children have suffered from this Polio disease, causing paralysis and other forms of lifetime disabilities.

Since Nigeria has for three consecutive years passed without a trace of wild polio virus, Chairperson of the Ghana National Polio Plus committee, Past Assistant-Governor Nana Yaa Siriboe, said the Global Polio Eradication Initiative (GPEI), partners and the African Region are pleased no case of wild polio virus has been reported in the WHO African Region, an achievement worth celebrating.

Rotary International as a volunteer service club has consistently since 1988 continued to volunteer and support eradication of this Polio menace. The Polio Plus campaign was as a result launched in 1985, as the first and largest internationally coordinated private sector support for a public health initiative. Its target of US$120million in fundraising was exceeded by 100%.

In May 1988, the 41^st World Health Assembly held in Geneva Switzerland adopted a resolution for worldwide eradication of Polio. This occasion saw the launch of the Global Polio Eradication Initiative spearheaded by national governments, World Health Organisation, Rotary International, CDC, UNICEF and much later the Bill and Melinda Gates foundation, just to mention a few.

The late former South African President Nelson Mandela together with Rotary International in 1996 launched the Kick Polio Out of Africa initiative to help eradicate polio from Africa. Rotary International has supported and collaborated on partnership, advocacy, fundraising and social mobilisation efforts to help the world achieve this goal.

As a result of Rotary International’s global efforts to end polio, Rotary has been there from the beginning until this achievement of a Polio-free Africa. This campaign demonstrated among other things that with strong commitment, coordination and determination it is possible to help polio eradication.

According to District Governor Yvonne Kumorji-Darko of District 9102: “Nine billion doses of oral polio vaccine have been provided, preventing an estimated 1.8 million cases of paralysis on the continent. To make the entire world safe from polio, it is critical to vaccinate every child and strengthen routine immunisation.

There are still pockets of children who are not getting the polio vaccine, which could lead to further outbreaks. To stop every form of polio, it is critical for every child to be reached with vaccines”. Rotarians have contributed nearly US$1billion toward polio eradication efforts in the African region alone, and US$1.8billion globally.

The funds have allowed Rotary to issue Polio Plus grants to fund polio surveillance, transportation, awareness campaigns and National Immunisation Days.

Outdooring the billboard in the community was to encourage every parent to have their children vaccinated against poliomyelitis come September 10 – 13, 2020, while adhering still to COVID-19 prevention protocols when the immunisation exercise commences.

To better create that awareness, Rotary ‘End Polio Now’ branded nose masks were shared with commuters around the Sakasaka Park leading toward the Ashaiman market. Each year, about 2 million volunteers help vaccinate 220 million children against polio multiple times in the African Region alone, and 2.5 billion children in 122 countries.

In Ghana – in government’s continued support for this initiative to eradicate polio – 52 Rotary Clubs and approximately 1,500 Rotarians join hands with the Ministry of Health, staff and nurses and partners to participate in our National Immunisation Day Exercise.

Dr. Fadinding Manneh, the Global Polio Eradication Initiative Coordinator in Ghana, commended the partners for their leadership and commitment as over 99 percent of polio cases were eradicated worldwide since 1988. “So, that is a great progress; but while polio remains anywhere in the world it is still a threat to everyone,” he said.

Also present at the event was the MCE for Ashaiman; a rep from the Ashaiman Traditional Council; and the Member of Parliament rep. from UNICEF and Ghana Health Service, who have all contributed immensely over the years in partnering Rotary on this front.

My Vodafone Ghana App: making the experience more exciting

September 18, 2020

Like many other telecommunication companies in Ghana, Vodafone – formerly known as Ghana Telecom or Onetouch – has gathered for itself many customers in Ghana. With effective and cheap data packages, text packages, reduced call tariffs and unrivalled international call rates, Vodafone has maintained a strong bond with its users over the years.

To further make the administration of Vodafone SIM Cards easier for users, the company decided to launch the My Vodafone Ghana App – just as has been done by some other telcos in the past. In this article, we will look at features of the My Vodafone Ghana App and what you can use them for.

If you are an existing Vodafone Ghana subscriber seeking an even more interesting way of enjoying your Vodafone experience, then this is for you. Also, if you are thinking of switching from another network to Vodafone, you should jump on the content of this article too, as it tends to grow and polish your interest in Ghana’s finest Telecommunications network.

Vodafone Cash Option

The My Vodafone Ghana App has the Vodafone Cash feature that enables users to check their Vodafone Cash balance, transfer money to other people, and also pay bills, buy airtime and perform other primary and secondary Vodafone Cash transactions right from the App with very few clicks and selections.

If you are a frequent user of Vodafone Cash, you know how annoying the short-code method can be sometimes. The long wait for it to load sometimes, and how soon the timeout is in most cases. The App should solve all these problems for you, and make you comfortable using your most reliable electronic payment method.

In-built Store Finder

Locating a customer-care office nearby is one thing that usually becomes difficult for most network users, especially in times of urgent need. It is okay to call the customer care line and chat with representatives regarding your problem; but sometimes, you can be directed to the nearest centre for your problem to be solved. This often becomes a problem for many people.

To resolve this problem, the My Vodafone App comes with a store-finder feature that enables the user to see in real-time the nearest Vodafone Office in their locality and allows them to connect and book an appointment when need be.

An Exciting Vodafone TV Feature

How about some extra features to an already exciting My Vodafone App? Sounds interesting, right? The My Vodafone Ghana App has the right features to keep its users on the platform for many hours.

Aside from performing basic Vodafone Cash functionalities, purchasing data and other products from the Vodafone Ghana App, a user can actually watch educational and wonderful content with the Vodafone TV feature on the Vodafone App platform. The Vodafone TV feature provides the user with content such as the Vodafone Healthline experience and others. You get to watch promotional content about new and exciting Vodafone offers and services as well. What’s more interesting than this?

Once in a long or short while (depending on how you use your SIM card), you may be required to contact your service provider on enquiries regarding certain issues.

While this can be done by simply dialling the Vodafone Customer-care number on your mobile phone, it sometimes gets laborious. In fact, not everyone likes to be typing numbers here and there.

With the Vodafone App, there is a help and support option whereby users can easily get in touch with their service provider for help with just a single click. Truly, the Vodafone App gives the user a wonderful experience worth their time.

Conclusion

Owning a Vodafone SIM card in itself brings so much joy and pride. It doesn’t only come with that cheerful red and colourful look, but also comes with a wide range of products and offers which always keep your smile broad and beautiful. But administering your SIM card and accessing such products and offers can be particularly stressful, especially for those with ‘Yam phones’.

To make the Vodafone experience more exciting, Vodafone Ghana has launched the My Vodafone Ghana App to be used by customers for all transactions. This App can be used on almost all Smartphones – both android systems and IOS.

World Bank sets ambitious targets for Green and resilient economic growth in Africa

September 18, 2020

Photo: Hafez Ghanem, World Bank Vice President for East and Southern Africa. Credit: Togo First

The World Bank has released the Next Generation Africa Climate Business Plan (NG-ACBP), which sets out a blueprint to help sub-Saharan African economies achieve low carbon and climate-resilient outcomes.

The Plan calls for countries to seize the opportunity to scale-up climate resilience to grow their economies and reduce poverty, redouble efforts to increase energy access across the region, and take advantage of sustainable and innovative approaches to leapfrog into greener development pathways. Without the rapid deployment of inclusive, climate-informed development, 43 million additional people could be pushed below the poverty line by 2030 in sub-Saharan Africa.

As the largest financier of climate action in Africa, the World Bank will use this new Climate Plan to build on a strong track-record under the original plan, in which the Bank supported 346 projects with more than US$33billion in World Bank financing over the past six years.

“The climate challenge cuts across every priority – poverty reduction, agriculture, job creation, women’s empowerment, fragility and more,” says Ousmane Diagana, World Bank Vice President for West and Central Africa. “Countries, therefore, have to tackle it in multiple ways: including by helping cities develop in clean ways; making climate-smart agriculture practices the norm; improving clean, green, and affordable energy; and putting people and communities at the forefront in order to improve lives and protect the future.”

Over the next six years (2021–26), the World Bank will focus on five key areas in Africa – food security, clean energy, green and resilient cities, environmental stability, and climate shocks – that emphasise the interrelatedness of climate risks and opportunities. The Plan sets ambitious goals that push the boundaries of sustainable development in Africa, including training 10 million farmers on climate-smart agricultural approaches; expanding integrated landscape management over 60 million hectares in 20 countries; increasing renewable energy generation capacity from 28GW to 38GW to increase access to clean electricity, and outfitting at least 3O cities with low carbon and compact urban planning approaches.

“Africa’s main challenge is adapting to climate change by investing in more resilient agriculture and food systems; building infrastructure that resists extreme weather events; protecting its coastal cities, and enhancing disaster preparedness systems,” says Hafez Ghanem, World Bank Vice President for East and Southern Africa. At the same time, green technologies provide an opportunity for growth and job creation. This is especially true in the energy sector where renewables have become a source of clean and inexpensive energy, bringing the goal of universal access to electricity within reach.”

The World Bank recommends that sub-Saharan African countries enact policy reforms which recognise the realities of climate change, in order to strengthen recovery and promote long-term growth. This includes addressing the sizable infrastructure gap in a green and resilient manner and using less carbon-intensive materials and technologies while creating more competitive job opportunities.

The Plan’s development was led by Kanta Kumari Rigaud, Lead Environment Specialist, who underscores that ramping up climate action on both the resilience and clean energy fronts is critical to addressing climate change and poverty in sub-Saharan Africa, as the window of opportunity to counter the climate crisis is rapidly narrowing.

This Plan will be rolled out amid the COVID-19 pandemic, recognising that climate action and green recovery will be key priorities as countries work to build back better from one of the biggest setbacks to the region’s development in the last 25 years.

Connect FM ‘Community Street Rap Battle’ grand finale slated for Saturday

September 18, 2020

After eight competitive weeks of extraordinary performances, which saw the men being separated from the boys, the final showdown is here!

The grand finale of season three of Connect FM’s Community Street Rap Battle is scheduled to take place this weekend, Saturday 19th September 2020 at Kojo Krom Lorry Park at 7 PM. The show will also stream live online, Facebook: Connect 97.1.

According to the Management of Connect FM, the grand finale of the Connect FM Community Street Rap Battle promises to be fun-filled with unique rap bars, hard punchlines, inventiveness and lyrical dexterity.

Your guess is as good as mine, who wins the night when the eleven gifted rappers clash? Who gets the bragging rights and wins the ultimate prize: one-year management deal, five mastered songs and GHC50,000 worth of promotion across all Media General platforms.

The first runner up will have three mastered songs and GHC10,000 worth of promotion as the prize package whilst the second runner up will receive two mastered songs and GHC10,000 worth of promotion across all Media General platforms.

The Connect FM Community Street Rap Battle is sponsored by Adonko Next Level Energy Drink and Verna Active Mineral Water.

Carl Manlan’s thoughts: Africa needs market-creating innovation

September 17, 2020

Eradicating poverty and boosting prosperity in Africa starts in the boardroom. And it requires African business leaders to use their positions to foster more inclusive economic growth that benefits all stakeholders – customers, employees, suppliers, and communities – rather than focusing on short-term profits that fail to lift up vulnerable communities.

But expanding the economic pie will require the continent’s business leaders to take a fundamentally different approach to innovation and growth. To generate shared prosperity, African corporate boards must focus on building new markets in Africa, for Africans. That means prioritizing market-creating innovations.

As many observers have pointed out, the Nobel laureate economist Milton Friedman’s famous dictum that a firm’s only social purpose is to maximize shareholder value is no longer tenable, given soaring levels of inequality. In Sub-Saharan Africa, for example, more than 230 million people suffer from chronic undernutrition.

But market-creating innovations can begin to improve the precarious situation of these and other vulnerable groups. Such innovations transform complicated and expensive products into simple and affordable ones, making them accessible to many more so-called “nonconsumers” who previously could not afford existing products on the market. If more African businesses develop strategies to serve the continent’s hundreds of millions of nonconsumers, the vision of shared prosperity can be realized.

Creating new markets may seem daunting, if not impossible because it often requires significant investments to attract customers deemed too poor to consume. But this is precisely how Africa can start to become more prosperous.

A little over 20 years ago, for example, Mo Ibrahim founded the African mobile telecommunications operator Celtel with the aim of making inexpensive mobile phones and communications technology available to the average African. Although many experts predicted that the venture would fail because Africa was too poor and corrupt, Celtel thrived. Today, thanks to the power of Ibrahim’s market-creating innovation, Africa has nearly one billion mobile-phone subscriptions. The continent’s telecommunications sector currently supports about four million jobs, and each year generates billions of dollars in much-needed tax revenues.

African company boards must now address the many challenges faced by the continent’s nonconsumers. For example, how might most Africans gain access to better health care? Most governments have underfunded health budgets, while non-governmental organizations typically lack the sustainable business models needed to scale up accessibility initiatives. But new markets can solve this problem.

For example, the Ghanaian health-care company mPharma is expanding rapidly across the continent by offering affordable quality medications. The firm has served over one million Africans, created hundreds of jobs, and raised more than $50 million of venture-capital funding to expand its operations. mPharma is following the market-creation playbook, and winning.

At their core, market-creating innovations focus on the needs of the majority. When Singapore’s Tolaram Group sought to create a new market for instant noodles in Nigeria in the late 1980s, its board wisely leveraged existing informal distribution and retail networks in the country and built up local expertise in order to make a product the average consumer could afford.

By subsequently manufacturing the noodles in Nigeria, the firm ensured that local skills and context would enable it to meet customers’ demands. Such decisions highlight the role boards can play in creating new growth engines for their organizations and society.

Such engines are urgently needed. The COVID-19 pandemic threatens to worsen the widening inequality that has accompanied Africa’s economic growth over the last 25 years.

The coronavirus has disrupted the livelihoods of the 85% of Africa’s informal workers, who lack access to social services and are being plunged deeper into poverty. These people are most likely to be nonconsumers of many products and services that would vastly improve their lives. Inclusive growth in Africa will come from targeting innovations at them.

African business leaders thus have a unique opportunity to chart a new growth course for the continent. But embarking on it first requires Africans to appreciate the extraordinary potential for growth within Africa.

To play a critical role in enabling broader-based prosperity, senior African executives must understand that market-creating innovations are the missing piece in the puzzle.

One way to encourage such initiatives is for firms to devote a percentage of their profits to developing innovations that target nonconsumption. With the pandemic sure to exacerbate the nonconsumption problem, now is the ideal time to act.

Furthermore, African firms can support governments by establishing public-private partnerships with the aim of democratizing innovation.

For example, Wecyclers, a company that collects and processes recyclable waste, and the Nigerian government have formed a partnership to improve waste collection efforts. With median annual per capita expenditure of around $300 per person, African governments need partnerships such as these in order to fulfill their development potential.

To be sustainable, economic growth in Africa can no longer benefit the few without benefiting the many. And development strategies must not be limited to weathering economic storms of the sort brought on by COVID-19.

Developing innovative products for African nonconsumers will provide a more predictable, inclusive, and sustainable path to prosperity for hundreds of millions of people. As the coronavirus has reminded us, targeting anything less than prosperity for all will put the entire continent at risk.

Carl Manlan, a 2016 New Voices Fellow at the Aspen Institute, is Chief Operating Officer at the Ecobank Foundation. Efosa Ojomo is the author of The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty.

Savings and Loans institutions are navigating through the storm

September 17, 2020

IMG-20200917-WA0040 — Photo: Carl Odame-Gyenti (Dr)

…but the future looks bright

In America today, Savings and Loans (S&L) Institutions have been the backbone of the massive growth and economic development we have witnessed in the United States Economy over the last century. Indeed, at the beginning of the 19th century, banking was still something only done by those who had assets or wealth that needed safekeeping.

The first savings bank in the United States, the Philadelphia Saving Fund Society, was established on December 20, 1816, and by the 1830s such institutions had become widespread. They provide many of the same services to customers as commercial banks, including deposits, loans, mortgages, cheques and debit cards. S&Ls were originally created to provide more economic opportunities, like home loans, available to more Americans such as members of the middle-class.

In Ghana, the story is not different, the S&Ls which is categorized as the Non-Bank Financial Institutions have been the forefront of economic development. They work closely with Small and Medium Enterprises and market folks. They provide an avenue for savings and some credit facilities to help them grow their businesses. I am much particular to associate S&L to Ghana`s development because they have been vibrant in meeting the needs of a certain class of individuals and firms that the traditional banks will not do.

Bank of Ghana clean up exercise

The financial sector of Ghana has undergone distress in the last few years with high non-performing loans and average capital adequacy ratio below the statutory minimum of 10 per cent that is required. Savings and loans sub-sector dominated the Specialized Deposit-Taking Institutions sector in Ghana, which are presented 42 per cent of the total asset size of the subsector.

According to the Bank of Ghana (BoG), only eight out of the 37 companies in the S&L industry had a paid-up capital above the minimum amount of GH¢15 million as at December 2017. These challenge ramifications on the sector’s ability to undertake and deploy effective financial inclusion.

It wasn’t so surprising when Bank of Ghana lifted its stick on 16th August 2019 to revoke and discipline recalcitrant S&Ls who were bringing the name into disrepute. According to the central bank, the revocation of the licenses of these institutions became necessary because they were insolvent even after a reasonable period within which the BoG had engaged with them in the hope that they recapitalized by their shareholders to return them to solvency.

The BoG also assessed that these institutions had no reasonable prospects of recovery and that their continued existence poses severe risks to the stability of the financial system and to the interests of their depositors. In line with the Government’s commitment to protecting depositors’ funds, the Government made funds available to enable the Receiver to pay depositors after their claims were validated. Some of the reasons that lead to BOGs decisions to revoke the license are stated below:

The levels of capital held by some savings and loans companies and finance house companies were in violation of the minimum regulatory capital required by Act 930. This made it precarious for these institutions to continue to undertake the business of specialized deposit-taking institutions, given the risks they posed to their depositors and other counterparties to whom they were exposed directly or indirectly; b. Excessive risk-taking without the required risk management function to manage risk exposures;
The use of depositors’ funds to finance personal or related-party projects or businesses on terms that were not commercial, leading to little or no income accruing to the relevant savings and loans companies or finance house companies and thereby compounding their liquidity challenges;
Corporate governance weaknesses with weak Board oversight, poor accountability, and override of internal controls;
Creative accounting practices and under-provisioning for impaired assets, thereby misrepresenting their true financial condition to the Bank of Ghana and other stakeholders; and
Persistent regulatory breaches, involving non-compliance with Bank of Ghana’s prudential rules, and failure to implement Bank of Ghana on-site examination recommendations.

Addressing societal needs

There is a bigger question to address in terms of what has been the contribution of S&L Companies to savings mobilization and credit availability and more importantly, to what extent does their contribution address needs that have not been satisfactorily resolved by the traditional banking system.

The general clientele of S&Ls companies is essentially urban-based and largely female (Goldstein et al, 1999). These companies largely deal with clients who are able to contribute to their strategy of savings mobilization. The clientele is usually made up of individuals with peculiar financial needs. These are people with relatively low social status and low income. Also, a comparatively large number of the clientele needs to be served for the operations to be profitable. There is therefore a high risk of default which needs to be well managed.

Until recently where commercial banks leveraged on Financial Technology (FinTech) firms to provide micro-lending and loans to a session of the society to deepen financial inclusion, this was at the forefront of S&Ls. As the case has been for some time, with regards banking principles of lending, the credit methodology requires documentary evidence, long-standing banker-customer relationship and collateral, which most micro and small businesses do not possess at some point in time.

Somewhere in 2007, the banking system reached only about 5 percent of households and captured 40 percent of the money supply according to a report by the Bank of Ghana. Personal guarantors were proven to be relatively effective and enforceable as security for loans in Ghana. These companies tend to rely relatively heavily on personal guarantees of the borrowers while banks often insisted on third-party guarantors who are in a strong financial position and clearly understand their obligations.

Figure 1 shows deposits trends in some selected Savings & Loans in Ghana

Data Source; 2018/2019 Unedited Financial Statements

S&L traditionally have ensured to stay to their core mandate of dealing with small businesses, individuals to keep them afloat. Data from their financial statement has also shown that a total deposit received from customers continuous to increased within these two periods. For instance, total deposits received from customers by Best Point Savings & Loans increased from Ghs257m in 2018 to Ghs259m in 2019. Again, the data also revealed that deposits of Ghs62m and Ghs71m were recorded in 2018 and 2019 respectively by PAN-AFRICAN Savings and Loans.

Empowering the GHALSAC

As we know, the Ghana Association of all Savings and Loans Companies (GHALSAC) is registered under the laws of Ghana and also licensed by the Bank of Ghana. It was registered and also obtained a certificate to commence business in the year 2008 as a company limited by guarantee and not having any share capital and also shall be a non-profit making institution. Since its inceptions, GHALSAC has been very instrumental in ensuring sanity and instilling confidence in that sector.

Considering all the issues raised by Bank of Ghana that lead to the revocation of the license for some of the Savings and Loans, it becomes necessary for GHALSAC to continue to strengthen institutions and improve on the existing policies, framework and governance. Setting out its objective among many others; to serve as a platform for effective communication and collaboration among members and as a mouthpiece and a consultation body for discussions with key stakeholders in the sector.

Challenges of savings and loans

Non-performing loans

Savings and Loans Companies are often faced with the incidence of their clients not repaying loans granted to them as a result of many factors. Key among these factors is the poor credit risk management practices by credit officers of these firms. They may give loans to sole proprietors who may not repay their loans for genuine and intentional reasons. Poor due diligence prior to the granting of loans and poor monitoring. Some of their clients may change their locations making it difficult and impossible to reach them.

Corporate governance breaches

Anytime good corporate governance rules are breached, it is a recipe for chaos. Some of these savings and loans are owned by entrepreneurs who have no regards for due process. They push their employees to engage in fraudulent transactions and sometimes the genuine transactions with their related parties are not fairly priced. All these red flags are challenges that do not augur well for the survival of the organization in the long run.

Investments with risky companies

Some of these Savings and Loans companies offer their depositors very high-interest rates on their deposits with them. These high-interest rates cannot be obtained from solid financial institutions. They can only be obtained from weak financial institutions that are struggling and sometimes microfinance institutions. These eventually lead to defaults when the investments mature.

Staying afloat

For savings and Loans companies to remain relevant and contribute their quota to economic development through the avenues they create for financial inclusion especially banking the unbanked, they need to address the queries raise by Bank of Ghana in so they don’t also get their licenses revoked.

What can shareholders do?

Shareholders of these savings and loans companies need to learn to practice good corporate governance going forward. The shareholders often interfere with the work of the professional they have employed to run their businesses by getting them to divert funds into other chains of businesses they own without due process. Not only is this unethical, but it is also equally criminal.

When these diversions of the fund is not controlled, it degenerated into liquidity and capital adequacy problems that can lead to regulatory infractions and compliance breaches. They can only be resolved when the shareholders and their senior managers adopt good corporate governance practices like accountability, proper risk management and following due process.

Risk management

In the financial services industry, risk management is critical for survival and going concern. Poor risk management emanating from financial mismatch and over-concentration to one sector. When these savings and loans companies take short term funds from depositors and use them for long term projects. This would eventually lead to liquidity problems.

They should learn to invest with the only solid financial institution that offers risk-adjusted returns on investments and not gamble with depositor funds.

Additionally, they are not to be so exposed to one sector. For instance, the emergence of Covid-19 pandemic has brought some lessons to banks and humanity. The hospitality and the educational sector were the hardest hits. So, any institution that is overexposure to them would struggle. So they need to structure their clientele based in such a way that some eventualities would not affect their going concern.

Non-performing loans

Savings and Loans companies give loans to a clientele base who may not have stable residential premises. They need to carefully give loans that they know they can retrieve based on thorough analysis and client appraisal. The interest rates on these loans should be very reasonable to make the repayment much easier. Loans granted should be well monitored so early signs on defaults can be seen and addressed. They also need to build the capacity of their client by encouraging good bookkeeping practices etc. This would go a long way to help them mitigate the chances of default.

They need to find creative means of tracing their clients to retrieve funds from them. They need to give loans to their clients in tranches so they do not misappropriate it.

The way forward

S&L has become an integral part of the financial system in Ghana and no doubt the impact continues to be great. Admittedly, their current relative shares of total deposits and total credit may not be very significant. However, as the saying goes, we are not in normal times and not in normal times require a rethinking of a process to serve customers. There is a need to improve the quality of credit administration, as well as underwriting standards.

It`s important for S&Ls leverage on technology to drive business. Fintech–broadly defined as technology-driven financial innovation–is rapidly changing the nature of financial products, services, marketing, and even institutions worldwide. Amid all the excitement over its potential impact on financial inclusion, the gender dimension of fintech is often overlooked.”

Savings and Loans companies can change the narratives around them now buy resolving to practice good corporate governance, avoid poorly priced related party transactions and work on their risk management. When all these is done with the help of the regulator and other policymakers, they could become the engine of growth for the SME sector and make a significant contribution to national and economic development like their counterparts in the United States of America.

>>>the writer has completed his Doctor of Philosophy (PhD) studies in Financial Management, Investment Option. A Finance and Telecom enthusiast, he managing local and global investors, intermediaries, banks and Non-Bank Financial Institution relationships with an international bank in Ghana. Contact: [email protected], Cell: +233-204-811-911

Tema gets ultra-modern ICT centre to aid digital literacy

September 16, 2020

St. Paul's ICT Center — The new and ultra-modern ICT centre at St. Paul’s Methodist Junior High School, in Tema

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Enterprise Computing, a technology-based organisation, has set up a new and ultramodern ICT centre at St. Paul’s Methodist Junior High School in Tema as part of efforts to help the youth in the community acquire the needed knowledge and skills in order to adapt to this fast-changing technological world.

The new ICT centre is stocked with 22 high-speed computers with low power consumption, high-end backup power inverter capable of lasting for weeks in the event of power outage, and a 65-inch smart screen.

In a speech delivered on his behalf, CEO of Enterprise Computing, Jake Oyortey, said the recent situation with the coronavirus pandemic, will even make the centre more useful to the community as learning through digital platforms has become the new normal in the education sector.

“When we embarked on this project last year, we knew the times were changing, hence, ICT training would be the key to granting our youth the competitive edge to progress in the world out there. Never in our wildest dreams did we anticipate that the COVID-19 global pandemic will make ICT the primary means for education delivery. Today, some schools are continuing with the academic calendar by leveraging on technology.

The change that we thought would occur gradually has happened and we have no option other than to adapt. It is my prayer that today’s handing over would prove to be a significant landmark for the pupils of Tema when the history of our times is written,” he said.

Headmaster for the school, Sylvester Asiedu, who received the donation on behalf of the community, thanked Enterprise Computing for its kind gesture which he said has come at the right time as the school and the community in general are in need of a modern ICT laboratory to facilitate learning.

“Everything in the laboratory that you see is of modern spec that we have been longing for. If you take close look at the new curriculum, there is something we call digital literacy, and this facility is going to be helpful in that education,” he said.

First Assistant Girls’ Prefect and final year student, Sandra Buerkwor Puplampu, expressed her gratitude on behalf of the students, saying the facility will enhance teaching of ICT in the school and community as their training over the years has largely been theory-based because of lack of adequate computers for the school.

Also commenting on how the new centre is going to impact ICT education in the school, the President of the Students Representative Council (SRC), Agya Yaw Nsuo Brobbey, said he is confident that the facility will significantly improve ICT learning as the computers of the old laboratory are no longer able to meet the ever changing complex technological education that is taught in schools.

He further urged the school-going children in the community to take advantage of the laboratory and acquire the needed ICT skills so much required in this digital world.

Banks’ reliance on BoG for credit support drops 91.7%

September 16, 2020

Photo: Stephen Asare, Chartered Accountant and retired banker

Analyst says it shows the robustness of the sector

Measures introduced by the regulator to help the banking industry remain strong in this pandemic season seem to be bearing fruit, as new data show banks’ dependence on the central bank for liquidity support has reduced significantly.

The Statistical Bulletin Report (June 2020) shows there has been a drastic 91.7 percent decline in credit support from the Bank of Ghana to the banking industry since the beginning of the year. In January, the Bank of Ghana extended more than GH¢1.9billion credit to the sector compared to GH¢158million in June.

This, among other reasons, means the banking industry – even after the pandemic hit the country in March – has the required amount of funds to operate and become profitable; thanks in part to measures such as a reduction in the reserve requirement that was introduced earlier by the regulator to cushion the industry from immediate shocks of impacts from the pandemic.

This argument is supported by a chartered accountant and retired banker Stephen Asare, who told the B&FT in an interview that the reduction of credit support to the sector from the regulator is an indication of the banking industry’s robustness, as banks no longer depend heavily on such temporary interventions from the central bank.

“The reduction of reserve requirement by the Bank of Ghana has given banks some liquidity, which means they will not require further assistance from the central bank. Once banks are liquid enough, they will not avail themselves for liquidity support from the Bank of Ghana. It means that things are gradually returning to normal for the banks, and confidence is back in the system,” he said.

In March when the country recorded its first case of the pandemic and started seeing its impact on the economy, the central bank announced a series of measures which included reduction of the Primary Reserve Requirement from 10 percent to 8 percent to provide more liquidity to banks and SDIs – as well as reduction of the Capital Conservation Buffer (CCB) for banks from 3 percent to 1.5 percent.

This directive has subsequently reduced the industry’s reserves with the central bank to GH¢13.3billion in June from the GH¢17.5billion in March 2020.

It further reduced provisions for loans in the ‘Other Loans Especially Mentioned’ (OLEM) category from 10 percent to 5 percent for all banks and SDIs, as a policy response to loans that may experience difficulty in repayments due to a slowdown in economic activity; and Loan repayments that are past due for Microfinance Institutions for up to 30 days shall be considered as ‘Current’, as is the case for all other SDIs.

Again, the regulator required banks and SDIs to desist from declaring and paying dividends, and from making other distributions to shareholders for the 2019 financial year – unless the Bank of Ghana was satisfied that such institutions met the regular prudential requirements and were not relying on additional liquidity released by the regulatory reliefs provided by the Bank of Ghana.

The central bank also warned banks to refrain from utilising the released liquidity to purchase Government of Ghana and Bank of Ghana Securities.

People’s Pension Trust launches iCARE Pension on Pension Awareness Day

September 16, 2020

PHOTO-2020-09-15-10-42-00 — Saqib Nazir, CEO of People’s Pension Trust,

People’s Pension Trust has launched the iCARE Pension, an innovative feature of the PPT Personal Pension Scheme in commemoration of Pension Awareness Day.

iCARE Pension will allow anyone to easily set up and contribute to the pension of someone they care about – such as a family member, a domestic worker, a taxi driver or even the neighbourhood waakye seller. It is also to encourage such persons to save toward their own pension.

Individuals who wish to sign-up someone they care about on the product can easily and conveniently dial *789*111# on their phones and follow the registration steps. Payment amounts are flexible and can be made one-time or recurrent via Mobile Money or a credit/debit card, or by visiting its website to contribute. Payment options are either one-time or recurring.

A recipient on the iCARE Pension has sole access to the accrued benefits of the scheme, and in the event of death, their nominated beneficiaries will have access to the accrued benefits. The donor can only contribute and has no access to the data or accrued benefits.

Saqib Nazir, CEO of People’s Pension Trust, speaking on the objective for developing the product says, “There are many people out there who do not have any pensions in place and end up with income insecurity in their old age and therefore rely on the unsustainable benevolence of others. There are also many people who care for and are responsible for the wellbeing of such people. This product will allow them to contribute toward the retirement of such persons, so they don’t become a burden on society and can care for themselves financially in their old age.

He further explained: “This will also encourage the recipient to contribute toward their own pension, as the opportunity has now been created for them. We believe that an iCARE pension will enable more people, especially the underserved, to also prepare adequately toward their old age income security.”

Akufo Addo hails GEXIM bank leadership

September 16, 2020

Photo: Nana Akufo-Addo - President of Ghana

President Nana Addo Dankwa Akufo-Addo has hailed the CEO of Ghana Exim Bank, Lawrence Agyinsamm and its leadership for their respective roles in building and supporting industries to progress in the country.

The acknowledgement comes in the wake of credit support that GEXIM bank has extended to over 100 startups and ailing companies to expand and employ more youth in the country.

Under Lawrence Agyinsam’s watch support has been given for the establishment of many 1D1F companies, and also to help revamp companies which had been abandoned for many years.

The private sector has considered him as the driver of 1D1F – which is the government’s flagship programme – upon assumption of office in 2017.

But the Alliance for Development and Industrialisation (ADI) believes the country can establish more companies if a strong synergy is created between the GEXIM bank and financial institutions to deepen their credit support for the private sector.

According to the Convener of the think-tank, Elikem Agbnyegah, this support would bring continuity by partnering other financial institutions…if there is risk associated with the start-up phase it can be handled by GEXIM, then the banks can continue with other phases.

“We can only sustain our industrialisation drive if banks do away with their laid back attitude. The Bank of Ghana must instruct banks to give 50 percent of depositors’ funds as loans for the private sector to augment the support from GEXIM, as is being done by our peers like the Nigerians

“If we fail to implement this caveat, we are killing ourselves as well as crippling the economy. We need the support from our banks, or else whatever GEXIM has put together now will go down the drain,” he said, adding that banks must cut down on buying government instruments and lend to the private sector – which is the engine of growth.

Sectors that have received financial support from Ghana Export-Import Bank include Pharmaceutical, Poultry, Shea, Creative Arts, Garments, Pineapple, Cassava, Avocado, Orange fresh sweet potatoes, Mango, Cocoa products and Oil Palm.

Some of the factories that have been completed include Ekumfi Fruits and Juices Factory, Amantin Cassava Processing Starch Factory, Casa de Ropa, Akro Poultry Farm, Juaben Oil Mills, and Green Houses at the Kwame Nkrumah University of Science and Technology, University of Cape Coast, among many others.

GEXIM’s mandate is to enhance export revenue generation, improve import-substitution, add value, and create employment in the country.

Don’t get caught out: How to outsmart online fraudsters

September 15, 2020

The writer is the print lead for Africa at HP

Everyone loves a great bargain, but the hunt for a good deal is becoming a risky business.

The technicolour world of online shopping offers consumers an abundance of choice.

With a seemingly never-ending virtual high street of products, all available at the click of a mouse, shopping around to find the best price has never been easier.

But the online marketplace is also a confusing mass of sellers.

There are plenty of legitimate small businesses or resellers, but for every honest seller there’s often a fraudster selling low-quality imitations of trusted brand-name items.

These products often look like the real deal, but with a much lower price tag and at a much lower quality.

Determining whether you’re getting a genuine bargain or are buying a knock-off product can be difficult. Often, consumers won’t realise they’ve purchased a fake until it’s too late.

Known as the “grey market”, these products often aren’t counterfeits at all and may have been manufactured legitimately by a brand but are sold by an unauthorised retailer or channel, often at a reduced price.

In the European Economic Area (EEA) grey trading is illegal and consumers purchasing these products, knowingly or not, can find themselves in a tight spot later down the line as authorised retailers will often be unwilling to service grey market goods.

Before handing over any cash, make sure you know you’re buying from someone you can trust.

There are several ways to verify a seller and fraudsters will often give themselves away if you simply take the time to look into them.

While a bargain price tag doesn’t necessarily mean a product is a counterfeit, if it seems too good to be true that’s often because it is.

Many scammers bank on the fact that buyers will be so dazzled by the promise of a bargain they won’t do their research.

So at the very least, a ludicrously low price should raise some red flags and encourage you to do some digging before hitting ‘buy’.

Here’s some ways to outsmart counterfeiters and steer clear of grey market goods.

Take a closer look at those 5-star reviews

The natural first step would be to check the seller’s reviews. Many people will do this anyway, but reviews shouldn’t be taken at face value.

Of course, a litany of scathing remarks from irate customers will immediately tell you to steer clear, but even positive reviews should be taken with a pinch of salt.

Scammers will often post their own fake reviews, even on trusted sites like Amazon. Fortunately, there are some tell-tale signs that can tell you if reviews are genuine or not.

If they’re overly vague or generic, there are multiple comments saying the same thing with very similar phrasing or reviewers seem to be using exaggerative or promotional language, these can all hint that either the reviews are fabricated or that the seller has incentivised buyers to leave positive feedback, such as by giving away the product for free or by paying them for a good review.

Pay attention to the details

Sometimes, a seller’s online shop or page will immediately tell you they’re untrustworthy thanks to a dubious graphic design style.

But pro scammers can look very professional, so additional sleuth work may be needed. Try reading their “about” or “contact us” section.

If it’s full of grammatical errors and typos or lacks basic details such as a business address or phone number, that’s a good indication that something is wrong. You can go a step further by checking out the website domain.

Straight off the bat, you should be suspicious if the site ends in .org or .net – legitimate retailers typically don’t use those.

But if you’re unsure, copying the web address into a free website reputation checker (such as DomainTools) can tell you everything you need to know about the site, including when it was created and its IP location.

You should be wary of any sites that are written in your local language but have a domain that is hosted in another country or sites that are less than a year old.

Check out the packaging

Once your product arrives, there are ways of checking if it’s genuine or just a convincing counterfeit.

The packaging itself is often the first clue. Most brands use high-quality, well-designed packaging for their products.

It’s more than just about getting the product from A to B, packaging represents the brand so companies put a lot of thought into quality. Fraudsters, not so much.

They’ll try to emulate the design but often the packaging will be flimsy and of poor quality or the product might not fit properly.

Even if the packaging seems well-constructed, closer inspection could reveal details that point to the product being a fake.

Most people spend little, if any, time reading the fine print on the box but such details can be the key to spotting forgery.

Check if the box includes contact addresses, email addresses or websites and customer service phone numbers.

Mandatory legal information is often also printed on packaging, such as information about product warranty or health and safety details.

Some companies will go the extra mile to ensure customers can verify that the product they’ve bought is genuine. At HP, we are dedicated to empowering our customers with the knowledge and tools they need to identify fraudulent supplies.

For example, our cartridges include a QR code on the security seal of our packaging, automatically directing you to a validation screen.

You can also lookup the serial number on our website. We also include a holographic security label to prove authenticity and a tamper-evident label that can tell you if the product has been interfered with in any way.

Taking just a few moments to investigate before buying online could save you from the disappointment of a bargain gone bad and being saddled with a product quite different from what you were expecting.

The writer is the print lead for Africa at HP.

Boost for healthcare delivery in the North…as Zipline’s medical drone service takes off at Vobsi

September 15, 2020

Healthcare delivery services in the five Northern regions have received a huge boost by the inauguration of Zipline’s medical drone distribution centre at Vobsi in the West Mamprusi Municipality of the North East Region.

The facility which was officially inaugurated on Saturday by the Vice President Dr Mahamudu Bawumia will use drones to make on-demand emergency deliveries of vaccines, blood products and life-saving medications to health facilities in the five Northern regions of the country.

The Vice President said the decision of the government to adopt the revolutionary service of using drones to deliver on-demand, emergency medical commodities are significantly improving access to basic emergency medical commodities by health facilities across the country.

He expressed his excitement about how the drone delivery service is saving lots of lives, especially, in the hard-to-reach communities in Ghana.

Dr. Bawumia recounted a story of how a Medical Superintendent at the Baptist Medical Center in Nalerigu, relied on Zipline’s drone service at Vobsi to save the life of a woman who was in critical need of blood.

The Vice President indicated that besides saving the lives of patients in critical conditions, the drone delivery service is also boosting the morale of health workers across the country.

“There are lots of stories where our health professionals have openly testified how this single technology has boosted their morale, knowing very well that even in very difficult moments, like shortage of blood products during emergencies, Zipline will be available to deliver just in time.”

He reiterated government’s commitment to invest in the healthcare delivery system and called on the Minister of Health and the Director-General of Ghana Health Service to expedite actions on the on-going discussion to expand the network of the drone delivery service across the entire country.

He said, “… it’s important that we speed up this discussion so that we can cover the entire country by the addition of four more distribution sites we do not leave any community behind in access to critical health service such as this.”

The Deputy Minister of Health, Dr. Benard Oko-Boye, is of the firm belief that the medical drone delivery service is helping in the reduction of the “no-bed syndrome” as referral to other hospitals as a result of the non-availability of essential medical products within the operational areas of Zipline is reducing.

The Deputy Minister commended Zipline for its partnership with Government in the fight against COVID-19 which has placed Ghana as the very first country in the world to use medical drone technology to deliver COVID-19 samples to testing centers. According to him, the partnership was also very instrumental in speeding up the testing regime and saved lots of money for districts that were very far from the COVID 19 testing centers.

Speaking on behalf of Zipline, the Managing Director of Zipline Ghana, Daniel Marfo, expressed his appreciation to all partners and donors to the project. He believes the effort of Zipline is yielding very significant results as the number of requests for deliveries keep rising by the day.

“This technology, no doubt, is saving lots of lives; demand for our services is rising by the day. On our end, we remain committed to our side of the contract by continuing to save lives when it matters the most”

Role of Ghana Export-Import Bank in industrialization through 1D1F initiative

September 15, 2020

The manufacturing sector for any economy is considered the backbone of economic development.

Manufacturing industries do not only help in modernizing agriculture, they also reduce the heavy dependence of people on agricultural income.

In 2017, it was estimated that the manufacturing Industry in Ghana accounts for about 25.3% of total GDP. Ghana’s industrial production is rising at a 7.8% rate, giving it the 38th fastest growing industrial production in the world due to government’s industrialization policies.

Locally produced goods reduce the level of importation and keeps a robust economy especially in cases of global emergencies like the COVID-19 pandemic, which led to the closing of borders.

However, for a product to be truly accepted, packaging and promotion play an important role; it raises the products appeal to consumers. First time buyers will make a purchasing decision of products in a similar category based on the packaging of product. Though significant strides have been made, Ghanaian manufacturers and producers have not yet fully leveraged the opportunities provided by the increasing purchasing power and modern lifestyle of a growing middle class, as well as potential external markets.

Made in Ghana initiatives

Part of GEXIM’s mandate is to assist in the promotion of locally produced goods and services to enhance export revenue generation, improve import-substitution, add value, and create employment in the country. With GEXIM funding 1D1F initiatives, raw materials are processed into finished products that are colourfully packaged to attract not only local but also, foreign consumers.

The Made-in-Ghana concept emphasises the need for Ghanaians to take pride in their national heritage, promote made in Ghana products and patronise and use products which are locally produced in the country. The tourism sector has contributed significantly to this call, transcending the borders of Ghana to the rest of the world with Ghana’s arts, music, dance, food, fashion and culture.

1D1F and Made-in-Ghana

Building on several years of robust growth, the government has instituted the One District, One Factory (1D1F) initiative to increase industrial capacity and output. This is to boost the value-added components of the country’s manufactured exports.

With this in view, GEXIM has funded the establishment of indigenous factories, which are helping to process raw materials into secondary products thereby encouraging the production and purchasing of Made in Ghana products hence, limiting our dependence on foreign goods or products.

With the focus on Poultry Pharmaceuticals, Cassava, Shea butter, Garments, Pineapples and mangoes, Creative arts, Oil palm, Cashew, and Cocoa, GEXIM is positioned for a Made-in-Ghana drive that exposes the finished products derived from these raw materials.

Proudly Made-in-Ghana

Ekumfi Juice Factory, a fully owned Ghanaian enterprise, is one of the biggest fruits processing factories in West Africa instituted under 1D1F. Currently, the factory produces Eku Juice, a 100% pineapple drink with no additives or concentrates, which has given it an edge over other brands on the market and placed Ghana on the international radar when it comes to the competition of fruit juice products on the export market.

Casa De Ropa is an agro processing factory which processes orange flesh sweet potato into bread, potato cake, doughnut, chips, and other pastries.

Under the Government’s 1D1F initiative and financed by GEXIM, Casa De Ropa, a greenfield project, has the capacity of producing 250 tons of potato every six months and can produce some 7,200 tons of pastries per day.

The orange fleshed sweet potato, is “locally produced and forms more than 50% of its inputs, in the production of chips, bread and biscuits, substituting a percentage of imported flour with the fresh roots of the Orange Flesh Sweet Potato produced by the local farmers.”

Akro farms, on the other hand, is reducing poultry importation in Ghana by producing poultry and poultry product for local consumption and exports. The company produces fresh and heathy table eggs, chicken feed, broilers, processed chicken, and day-old chicks.

1D1F has opened avenues for Ghanaians to own their space by producing, promoting, and purchasing Made-in-Ghana products for the prosperity of Ghana.

According to PWC, “the manufacturing sector is poised for significant growth over the next few years and new policies have been put in place by the Government to create an enabling environment, with an emphasis on manufacturing and exports.

1D1F is a laudable initiative to make Ghana industrialised and an export-led economy. The aim of this policy is to create jobs for Ghanaians through the setting up of factories and industries which will empower communities to utilize their local resources in manufacturing products that are in high demand both locally and internationally.

To sustain this, Ghanaian must, as a matter of urgency, produce, promote and Purchase made in Ghana products for a prosperous Ghana.

Vodafone CEO calls for mandatory acquisition of digital skills among the youth

September 15, 2020

In a COVID-19 pandemic where new inequalities have been created with rising youth unemployment widening the gap between the rich and the poor globally, Vodafone Ghana CEO, Patricia Obo-Nai has reiterated the need for young people to acquire digital skills.

Ms. Obo-Nai, who described the acquisition of digital skills among young people as no longer a choice, said COVID-19 has presented a significant momentum for economies on the African continent to create new opportunities to improve digital skills for the youth.

Speaking on the topic: Africa After COVID-19: Can The Economy Recover? At the Bruegel Annual Meetings this year, Ms. Obo-Nai explained that Vodafone has already been working closely with businesses to ensure that they have digital solutions in agriculture, particularly in South Africa, where Vodafone is digitizing the whole agriculture value chain in that country.

In Ghana, she recounted how Vodafone supported many sectors including health, education and the mobile financial sectors in the pandemic. Indeed, when the pandemic started in March this year, Vodafone had put together a six-point plan to save lives of citizens in order to deal with the health crisis.

To tackle the challenge, Vodafone increased its capacity to about 60 percent as more government services, health workers and micro businesses needed to get connected with more people working from home. Vodafone put devices in the hands of health workers where a telecentre with 50 multilinguals were made available to Ghanaian doctors to enable them to share information on their phones while helping citizens.

The company also made educational content available online on its Instance School Platform which kept students apprise with their lessons in the pandemic.

“Data has been so important in this pandemic and Vodafone has worked with the Ghana Statistical Service to assist with population movement to understand government policies in the pandemic. We assisted government with aggregated anonymized mobility insight data (AI driven modelling) contact tracing apps in line with data protection policies” Ms. Obo-Nai indicated.

Regarding mobile money and mobile financial services transactions, Vodafone has worked with central banks on the continent regarding financial inclusions and driving cashless payments and adjusting fees and charges in the pandemic.

“We took the fees off on our transactions in many markets including Ghana. We improved the tier limit for customers to avoid face to face contact. Even though we started with Safaricom in Kenya, we now have operations in about eight African markets with about 40 million customers and we transact about US$14 billion in transactions every month” she said

In donations and in moneys in services across the world to support lives in this pandemic, Vodafone surpasses about 100 million euros as money given to support in the pandemic.

Ms. Obo-Nai however admitted that it is imperative for telecommunication companies to move into remittances, digital wallets, merchant payments and deepening the use of mobile financial services digitally and enabling businesses on how they connect and how they are paid for very basic services. “This is where young people come in, because as the jobs become available in all these areas of the economy, we need young people with digital skills to take up the jobs,” she noted.

Keynote speaker at the meeting, Former President, Ellen Johnson Sirleaf of Liberia, explained that despite the gains made by many African countries in education, health access and technology, a bleak future still looms as 75 percent of young people on the continent are still not in employment due to population increase, coupled with declining job opportunities.

World Bank Vice President for Africa, Hafez Ghanem noted that the future is still bright for Africa. He said the ratification of ACFTA and the continent being home to enormous natural resources including a human population of 1.3 billion people makes it a continent of opportunities. The Bruegel Annual Meetings which was held on September 1-3, 2020, discussed the most urgent economic questions facing Europe, Africa and the World.

Patricia Obo-Nai

Nura Abdul-Rahman’s thoughts: Why products fail

September 15, 2020

We’ve often heard success stories of the world’s biggest market leaders like Amazon, Apple, Samsung, Microsoft, Facebook and among others. Several businesses look up to them for inspiration and a sense of direction.

There are quite a number of case studies on their business strategies and how these strategies can be adopted in enhancing business growth. However, in building a great product, one has to understand why products can fail or perform terribly in the market. There are a couple of products that had the largest market share for decades but later failed terribly in the market.

One might wonder what went wrong? Big companies like Kodak, Nokia, and Toys R Us made billions of dollars in revenue for years. They were the leading brands in their industries at some point, but still got thrown out of business by their competitors. Nokia, in 1998 became the best-selling mobile brand in the world, and its revenue shot up significantly from US$1 billion in 1995 to almost US$4billion in 1999. The Nokia 1100 was the best-selling mobile phone of all time in 2003.

In 2007, Apple introduced the iPhone but Nokia still sold most smartphones around the world while Apple had just 5% of the market share. In 2010, Nokia introduced new sets of smartphones that were projected to push the iPhone out of business – but that was not the case.

Their revenue, however, dropped drastically in that same year and sales kept declining until it was acquired by Microsoft in 2013. How and why did Nokia fail after being the market leader? Nokia’s products were inferior to Apple’s; they clearly lacked vision and their organisational culture stifled their ability to innovate.

Kodak was a giant in the photography industry in the 1970s, but later filed for bankruptcy in 2012. For a hundred years, Kodak was at the forefront of photography, with dozens of innovations and inventions accessible to their consumer. Its core product was film and printing of photos. In 1956, Kodak became more dominant and practically pushed their competitors off the market.

However, the rise of digital photography in the late 1980s took a toll on sales of analogue cameras. By 1984, customers switched to Fuji because it provided more value in terms of addressing customer behaviour and was also 20% cheaper.

The biggest turning point for the industry was photography moving away from analogue to digital, which Kodak was not ready for. Smartphones also took the world by storm and consumers went from printing pictures to storing and sharing pictures on social media platforms. Even though Kodak jumped on the digital-trend bandwagon, it was late and Kodak was still focused on printing while selling analogue cameras and film. Kodak failed to reinvent itself and was complacent.

Toys R Us is no different from Nokia & Kodak. Toys R Us also faced the wave of digital movement, wherein consumers were leaning toward digital devices instead of toys. Amid the rising interest in e-Commerce, Toys R Us failed to adjust and adapt. They also failed to keep up with changes the industry was going through. They failed to innovate, unlike their competitors, to adapt to the changing preferences and buying habits of the new generation.

Those companies had enough market power to reinvent themselves in a way that embraced both innovation and changing behaviour of customers. They had enough room and finances to try new things and leverage on their selling power. However, they failed to see beyond the value they were already offering. Change is inevitable, and as such products should be modelled in a way to embrace change.

Currently, in Ghana there’s been a rise in online payment platforms – and this market is getting more saturated as consumers get more comfortable with using these new platforms. The new wave of going cashless also contributes to this saturation. As such, banks and mobile network providers are now creating their payment services for both money transfers and bill payments, such as water and electricity bills.

DreamOval offers financial solutions for banks and other fintechs looking to maintain an edge in the market and find creative solutions for a moving market. As competition gets tougher and the market gets saturated, how is Dreamoval offering its experience to bring value to the brands it supports? We can think that all these banks, financial institutions and mobile service networks will be offering the same services as online payment platforms.

Will that mean these payment platforms will be kicked out of business? How will that affect their business model? How prepared are these payment platforms for this major wave? Will there be another Nokia, Kodak or Toys R Us? It is therefore important for all these online payment platforms to start thinking of ways to create unique experiences for their customers. We are innovating and bringing change to the financial industry through Billbox.

Billbox is a secured bill payment system that enables integration into bill payment services beyond Ghana. Through Billbox, our solutions have been able to adapt to additional African markets such as Zimbabwe, Cote d’Ivoire and other African regions. With the recent launch of remittance services by Billbox (Billbox Remit), our network of financial institutions is leveraging this technology to provide remittance services to their customers and partner bank’s customers seamlessly.

What can we learn from the demise of these companies?

Businesses should be prepared to shift from protecting their competitive advantages to making a revolutionary change. To develop a great product, it is relevant to understand the industry you are in, the trends, and the changing behaviour of customers.

At this stage market research is very key, and businesses should seek to take advantage of the data available in the market from consumers and their competitors. It is also relevant to understand the level of customer satisfaction with your product features, functions and service, to continually satisfy their needs. Kodak for instance saw the disruptive forces affecting their industries, but failed to realise sharing photos online was the new business – not an opportunity to expand their printing business.

An organisational culture that embraces change and ensures innovators have enough voice to be heard and listened to at the top contributes to building a great product. In the case of Nokia and Toys R Us, their organisational culture stifled their ability to innovate. They were internally aware of the changes, but there was no urgency from the top to re-invent the wheel.

The vision of company leaders can help get the right mix of strategies that will help in future growth. A company that is established without vision and goals will most likely be highly dependent on outside factors, and those factors could either make a product a success or ruin it. The latter usually happens, because in a world where technology constantly evolves it is best to have a sense of direction and focus. A sense of direction helps the business to differentiate between fads and futuristic technology so as to invest wisely.

To achieve the above, businesses must have the right product organisation. Businesses need the right people for the right role to conduct better product testing, measure data, define features, iterate on product development, and manage the development process.

Citation

[1] “Why did Nokia fail and what can you learn from it? – Medium.” 24 Jul. 2018, https://medium.com/multiplier-magazine/why-did-nokia-fail-81110d981787. Accessed 7 Aug. 2020.

[2] “Why Did Kodak Fail and What Can You Learn from its Demise ….” 13 Dec. 2018, https://medium.com/@brand_minds/why-did-kodak-fail-and-what-can-you-learn-from-its-failure-70b92793493c. Accessed 7 Aug. 2020.

[3] “This Is the Best-Selling Phone of All Time | Reader’s Digest.” 30 May. 2019,

https://www.rd.com/article/nokia-all-time-best-selling-phone/. Accessed 7 Aug. 2020.

[4] “The Ten Principles Of Building Great Products – Forbes.” 23 May. 2014, https://www.forbes.com/sites/avidlarizadeh/2014/05/23/ten-principles-on-the-journey-to-building-great-products/. Accessed 9 Aug. 2020.

[5] “Ecommerce in Ghana, 2020 – An Insightful Report – WopeDigital.” 18 Jul. 2020, https://wopedigital.com/ecommerce-in-ghana/. Accessed 10 Aug. 2020.

[6] “Top companies in the world by market ….” https://www.statista.com/statistics/263264/top-companies-in-the-world-by-market-value/. Accessed 12 Aug. 2020.

>>>The writer is the Project Manager, DreamOval Limited

Post-harvest loss in watermelon and tomatoes: a case of seasonal glut or market system failure?

September 15, 2020

It’s yet again that time of the year in the Upper West Region of Ghana especially within the Wa municipality where there is a lot of tomatoes in the market. Many farmers are harvesting the product and there appear to be a glut. A few weeks ago, this was the case of watermelon. There was a glut of it in the market in places like Paala in the Wa West and other watermelon production centres.

Though attempts have been made to explain the situation as being occasioned by the COVID-19 pandemic, it has not been different in pre-COVID-19 era. Hence, as usual the glut comes with the challenges of post-harvest loss (PHL) of tomatoes and watermelon and consequently losses in incomes of farmers.

Situation of PHL in watermelon and tomatoes

Post-harvest loss is one of the major challenges in the Agriculture value chain. It is generally defined as all the quantitative and qualitative losses that are incurred along the commodity value chain after harvest until the produce reaches the final consumer. Therefore, from production to consumption, PHL can occur where some of the produce does not reach the final consumer but is lost along the chain.

In Ghana, it is estimated that the country losses US$700,000.00 annually to post harvest losses. The Ministry of Food and Agriculture estimates that 20-50% of perishables like fruits, vegetables, root and tuber crops that is produced in the country is lost due to post-harvest losses. Watermelon and tomatoes fall under the category of perishables and therefore are highly susceptible to losses.

Causes of PHL in watermelon and tomatoes

A major cause of PHL in tomatoes and watermelon is poor handling of the produce by farmers. Watermelon and tomatoes are perishable products, and therefore the way it is handled is very important in preventing losses. They require the right knowledge in terms of handling them and the adherence to good agronomic practices around the products. The absence of these makes them to be susceptible to losses.

Poor road linkage is another contributory factor to high PHL of farm produce like watermelon and tomatoes. Many roads linking production centres and urban areas are not in the best of shapes. For instance, a community like Paala in the Wa west district is one of the communities where water melon production is high, but the road linking Paala and Gusi can best be described as non-existent.

Many watermelon and tomato farming communities across Northern Ghana have similar challenges. The absence of good roads therefore heightens the losses incurred by farmers who are into the production of these perishables.

Inadequate market for watermelon and tomatoes contributes to high losses. Currently there appear to be a glut of tomatoes within the Wa Municipality of the Upper West Region as many farmers have difficulty accessing market for their produce. Many farmers are not able to get market and given that the produce is perishable, a lot of it is lost.

Also, appropriate storage facilities for tomatoes and watermelon is lacking and hence contributing to high losses of the produce. Currently, there are inadequate cold room and packhouses for vegetables and fruits in the Upper West Region. For instance as at 2017, in the entire Upper West Region there was only one packhouse located in Jirapa. This therefore is a major challenge in storing the produce so as to minimize losses.

Effects of PHL in Watermelon and Tomatoes on Farmers

Post-harvest loss incurred in the production and consumption of watermelon and tomatoes has serious implications on farmers and food security in general. It denies the farmers income. An increase in PHL constitutes an unfortunate and avoidable reduction in the incomes of farmers. It shows that produce that could have been sold and accrue as income to the farmer is lost.

It also constitutes a waste of resources. There are many resources that are committed to production such as land, water and other key inputs. Therefore, PHL is an unsustainable way of engaging in agriculture as a means of livelihood. It amounts to wasting the resources that have been committed to the production process.

PHL in watermelons and tomatoes also poses a threat to the food and nutrition security of the country. In this period of the COVID-19 pandemic, when the consumption of products like watermelon and tomatoes could boost the immune system of consumers, PHL denies the food system good and nutritious food. This therefore contributes to nutrition insecurity of many people.

Recommendations and way-forward

In order to get these issues addressed, there is the need for strong public investment in rural infrastructure to augment the existing ones. For example road networks connecting farming communities to market centers needs to be constructed for easy transportation of watermelons, tomatoes and other farm produce to the market centres. Failure to do that could further increase the losses.

Additionally, the full implementation of the one-district one factory concept in production centres around the country could also help to curb PHL in watermelon and tomatoes. Such factories could be established to ensure that they process and add value to the raw watermelon and tomatoes. For instance watermelon can be transformed into juice to be sold in both the local and international markets. Similarly excess tomatoes can be canned to reduce the incidence of losses.

Also, there is the need to put in measures to ensure all year production of the products. Seasonal spikes in the production of watermelon and tomatoes cannot attract any serious investment. Hence there is the need to ensure there is consistent supply of the product all year round. This would require the provision of appropriate irrigation facilities that suits small holder farmers.

Besides, strengthening of the market system with information on Watermelon and tomatoes could help curb losses. Currently data on production volumes on the two products is scanty. Information on the variety, the location, the quantities, and the prices of the produce could help other market actors play their roles to ensure losses of the produce are minimized.

Conclusion

In conclusion, the country’s agriculture has been touted over the years as the mainstay of the economy. But if measures are not put in place to curb PHL especially in perishables like watermelon and tomatoes it would reduce the impact of the sector on job creation and incomes generation. Indeed, it would render the farming of the products unstainable.

The subsector requires investment that would ensure food security, massive employment and sustainable development. Until that is done, the perennial woes of watermelon and tomatoes farmers is more of a market system failure and not just case of seasonal gluts of the products.

>>>the writer is a policy advocate & consultant in agriculture and international trade. He can be reached on 0249731699/0209029686 Email: [email protected]

Public sector must take the lead in capital market dev’t

September 15, 2020

Public Sector, word cloud concept on white background.

In order to create a much deeper, more liquid corporate bond market in Ghana, State-owned Enterprises (SOEs), particularly those under the control of the Ministry of Finance and the Social Security National Insurance Trust (SSNIT), must as a matter of urgency, initiate measures to begin listing debt and equity on the local currency on the market.

This, according to Partner of Chapel Hill Denham and Chairman of the Nigeria Infrastructure Debt Fund (NIDF), Philip Southwell, would result in a much stronger corporate yield curve than what is currently recorded and consequently drive overall growth of the Market.

“I wouldn’t suggest that all those companies should be privatized and equity sought on the Ghana Stock Exchange; that is not the proposal I have. I know that one or two of these institutions are listed already. But I do think virtually every organization under the control of Ministry of Finance and SSNIT should probably be asked to list local currency debt on the Exchange,” he said at a webinar organized in Accra with the theme: ‘Developing our Capital Markets for Sustainable Economic Growth’.

He added: “The listing process requires a fair amount of disclosure of the underlying financials of these companies and also commits those companies to ongoing transparency on a quarter-by-quarter, half-year by half-year and twelve-month by twelve-month basis. And that discipline that the capital market imposes is ultimately good for businesses at every level.”

Citing data which showed that the local debt market currently holds approximately $17.8 billion worth of domestic currency treasuries and about $1.6 billion worth of corporate bonds as well as highlighting the one-dimensional, plain-vanilla allocation of assets by pension funds in Ghana, vis-à-vis pension funds in Organisation for Economic Co-operation and Development (OECD) countries, he suggested that more needs to be done to move the market, especially in terms of diversification.

“There are many routes that can be used to create diversification like collective investment schemes but we must begin to look beyond these. Investors are becoming more increasingly savvy but also sensitive. Many investors are looking for themes that they have an attachment to beyond financial returns.

“We have noticed many investors are beginning to look for investments with themes such as Environmental, Social and Governance (ESG), Green Investments, robotics and also faith-based investment schemes, all of which can be delivered from a market stand point,” he said.

Reclaiming American greatness

September 15, 2020

Julia Jackson, the mother of Jacob Blake, a young black man from Kenosha, Wisconsin, who was shot seven times in the back by police, got it right when she said, “America is great when we behave greatly.” Sadly, for the past four years, President Donald Trump has been leading America in the exact opposite direction.

The country’s entire history seems to be on the line when Trump faces the voters again on November 3. It has been 160 years since the United States tried to deal with its “original sin” of African slavery. On that occasion, President Abraham Lincoln famously warned that, “A house divided against itself cannot stand.” Yet, under Trump, all of America’s divisions have been widened.

It comes as no surprise that the rich have gotten richer under Trump, given that he tends to judge overall economic performance on the basis of the stock market, where the richest 10% of Americans own 92% of shares. While equity prices have continued to reach new heights, so, too, has US underemployment and joblessness. Some 30 million US residents currently live in households without enough food, and most of those in the bottom half of the income distribution are living paycheck to paycheck. In a country already riven with deepening inequalities, Trump’s Republicans have not only cut taxes for billionaires and corporations but also implemented policies that will lead to higher tax rates for the vast majority of those in the middle.

As Martin Luther King, Jr., pointed out over a half-century ago, racial and economic injustice are inseparable issues in America. I was there for the March on Washington 57 years ago, when King delivered his heart-rending “I Have a Dream” speech, and we sang, “We shall overcome someday.” As a naive 20-year-old, I could not conceive that someday would lie so far off, that, after a short period of progress, the pursuit of racial and economic justice would stall.

Yet it has now been more than 50 years since the Kerner Commission’s report on the 1967 race riots, and racial disparities remain little reduced. The report’s ultimate main conclusion is still relevant: “Our Nation is moving toward two societies, one black, one white – separate and unequal.” Perhaps under a Joe Biden presidency, the country could finally embark on a new path.

In the meantime, the COVID-19 pandemic will continue to expose and exacerbate existing inequities. Far from being an “equal opportunity” pathogen, the coronavirus poses the greatest threat to those who are already in poor health, of which there are many in a country that still does not recognize access to health care as a basic right. In fact, the number of uninsured Americans has increased by millions under Trump’s watch, after falling dramatically under President Barack Obama; and even before the pandemic, average life expectancy under Trump had fallen below its level in the mid-2010s.

One cannot have a healthy economy without a healthy workforce, and it should go without saying that a country whose people’s health is waning has far to go before it can be “great.” As I wrote in January, Trump’s economic record was unimpressive even before the pandemic – and predictably so. Rather than reducing the US trade deficit, Trump’s ill-advised trade war has actually increased it by more than 12% in just three years. During the same period, fewer jobs were created than in the last three years of the Obama administration. Moreover, growth was anemic and already showing signs of fading after the sugar high induced by the 2017 tax cut stimulus, which did not lead to more investment, but did drive the federal budget deficit above the $1 trillion threshold.

Trump’s reckless governance, abetted by congressional Republicans, left the country unprepared to respond to the next crisis, which turned out to be just around the corner. When Republicans’ billionaire donors and corporate allies looked for handouts in 2017, there was plenty of money available. But now that households, small businesses, and essential public services desperately need assistance, Republicans are claiming that the cupboard is bare.

Insofar as the fight against the pandemic is akin to wartime mobilization, the US has been stuck with a commander who looks out only for himself, while endangering everyone else by rejecting science and expertise. It is no wonder that the US ranks among the worst-performing countries in terms of controlling the disease and managing the economic fallout. Americans are now dying at three times the monthly rate as in World War II.

Early on in the Trump presidency, the author Michael Lewis warned that Trump and his cronies’ war on the “administrative state” would leave the US wholly unprepared for future shocks. The country is now reeling from a (foreseeable) pandemic, and remains wholly at the mercy of a looming climate crisis, socioeconomic crises, and crises of democracy and racial justice, not to mention emerging divides between urban and rural, coastal and interior, young and old.

Trump has targeted two of the key ingredients of national greatness: social solidarity and public trust. Countries with these features have controlled the pandemic and its economic fallout far better. How can a country that trails the rest of the world in these respects lay any claim to national greatness?

America’s best hope now lies with Biden, whose greatest strength is his potential to reunify a divided populace. Although the country’s rifts have grown too large to be healed overnight, there is some truth in the cliché that “time heals all wounds.”

But healing won’t happen on its own. It will be up to Americans to embrace a project of national renewal. Fortunately, a large population of young people is eager to rise to the challenge. America can become great again only if it harnesses their enthusiasm, stands together, and applies itself anew to its longstanding principles and aspirations.

Joseph E. Stiglitz, a Nobel laureate in economics and University Professor at Columbia University, is Chief Economist at the Roosevelt Institute and a former senior vice president and chief economist of the World Bank. His most recent book is People, Power, and Profits: Progressive Capitalism for an Age of Discontent (Penguin, 2020).

President Sall is right about African Debt Relief – and the G20 shouldn’t stop there

September 15, 2020

Macky-Sall-2008 — Senegalese Preident, Macky-Sall

The Senegalese leader urged members of the G20 group of countries to continue helping African nations balance their obligations to creditors with their obligations to their own citizens in the face of a deadly pandemic

“Flatten the curve.” Do you remember that phrase? It was on everyone’s lips back in the spring, when the novel coronavirus (COVID-19) pandemic began rampaging across the world in earnest.

At the time, the idea was that the best way to combat the germ known as SARS CoV-2 was to go home and stay there long enough for hospitals, clinics, and other medical facilities to build up the capacity needed to handle the expected flood of new patients. Most of us expected that this departure from routine would be a temporary thing. We hoped it wouldn’t last long — that we’d be able to return to our normal routines after a brief disruption, with confidence that all necessary safeguards were in place.

Of course, it didn’t turn out that way. We spent far more time than we expected sheltering in place, unable to visit friends and family, attend school, or go to work in the usual manner. Many of us lost our jobs and saw our businesses fail, and the cumulative result of all these individual disasters was that the global economy took a sharp downward turn.

We still need to ‘flatten the curve’ … but how?

Along the way, of course, we’ve learned quite a bit more about SARS CoV-2 — how it makes people sick, how to treat it more effectively, what kind of resources our medical providers need most, and so on. But we’ve also stopped talking about “flattening the curve.” Even in places where hospitals and clinics have been able to build up their stocks of personal protective equipment (PPE), ventilators, and other necessities, we’ve moved on to other topics.

In my view, this is a mistake. I’d like to explain why I think so.

It’s not because our understanding of the virus has changed over time.

It’s not because we’ve seen infection rates rise after the lifting of lockdown orders.

It’s not because we don’t have a vaccine yet.

It’s not because the idea of “flattening the curve” seems callous when more than 900,000 people out the nearly 28 million infected around the world have already died of COVID-19.

It’s because we need to rethink the idea of what “flattening the curve” means.

And I believe President Macky Sall’s call for African debt relief is a good place to start that rethinking.

The President’s perspective

First, let’s look at what President Sall has to say.

In late August, the Senegalese leader urged members of the G20 group of countries to continue helping African nations balance their obligations to creditors with their obligations to their own citizens in the face of a deadly pandemic. Speaking to a group of business leaders at the French Entrepreneurs’ Conference, he noted that the group had taken up his call for a moratorium on the collection of debt from impoverished countries in Africa and elsewhere in April. He suggested that this moratorium be extended into 2021 rather than allowed to expire at the end of 2020.

“For the most part, and for all African countries, internal efforts will not be enough to lessen the shock of COVID and revive economic growth,” he said. “We need more financial capacity, which is why, with other colleagues, I have made a plea for substantial relief of Africa’s public debt and private debt on terms to be agreed upon.”

What the President’s words mean

Sall’s statements reflect the fact that the emergence of SARS CoV-2 was not a one-off event that sparked a short-term crisis, but rather the start of a struggle that will take a long time to resolve. They recognize that the outbreak is likely to be a drag on the world economy for years to come — and that the countries battling COVID-19 outbreaks need time to build up their capacity to fight back.

What’s more, the president’s words advance the idea that African states will be in a better position to meet their financial obligations in the future if they take the time and the trouble to address the public health situation first. Indeed, he made a point of stressing that Africa takes its financial commitments seriously, since he mentioned debt relief and not debt forgiveness. (He also suggested that members of the G20 group offer debtors the same kind of breathing room they have granted themselves, such as temporary exemption from rules limiting debt to 3% of GDP or less.)

In other words, Sall is asking the G20 group to give Africa time and space to flatten the curve. He may not have used those exact words, but that appears to be his goal. He is hoping creditors will agree to suspend business as usual so that African states can build up their capacity for economic growth, just as regular citizens of many countries around the world agreed to disrupt their usual routines of work and school and leisure activities so that hospitals could build up their capacity for patient care.

Sall also understands that this flattening of the economic curve is not a simple process. He knows it will take more than one round of deferred payments to compensate for the economic consequences of the pandemic, and that is why he has now asked the G20 to extend the debt moratorium, which was originally due to expire at the end of 2020, into next year.

Compensating for the setbacks of the last six months

And make no mistake: Africa needs that extra time. The continent has suffered enormously over the last six months.

On the economic front, the pandemic has triggered a global recession that has caused millions of salaried African workers to lose their jobs. Meanwhile, many more millions have seen their livelihoods dwindle or disappear because restrictions on movement have stifled the informal sector and forced the closure of small businesses. Additionally, the continent has experienced shortages of fuel and other essential goods as a result of disruptions in the supply chain.

Some parts of Africa have also weathered political disruptions. Mali suffered a coup in mid-August, following more than two months of anti-government demonstrations. Libya’s civil war, pitting the UN-backed Government of National Accord (GNA) in Tripoli against Khalifa Haftar’s Libyan National Army (LNA), has continued to grind on, effectively crippling the country’s lucrative oil industry. Investors in liquefied natural gas (LNG) projects in Mozambique have grown more nervous since a militia with ties to the Islamic State group, also known as Daesh, seized control of a key port in Cabo Delgado state.

Under other circumstances, African fossil fuel producers might have been able to use their reserves to help build up the cash needed to cope with the consequences of COVID-19. After all, as I explained in my latest book, Billions at Play: The Future of African Energy and Doing Deals, the oil and gas industry has the potential to serve as a springboard, amplifying and accelerating economic growth. It can create opportunities for economic diversification and — through petroleum companies’ research and investments — help pave the way to the creation of a renewable energy sector.

Unfortunately, though, world oil prices crashed earlier this year, partly because of the competition between Russia and Saudi Arabia for market share and partly because the pandemic undercut energy demand. Prices hit historic lows in late April. And since they have yet to recover completely, African producers will need more than oil and gas to compensate for the setbacks they have experienced this year.

A necessary step: Debt relief

That’s where debt relief comes in.

Debt relief will help African states weather the storms caused by the pandemic.

Debt relief will help African states take the steps needed to help people go back to work or build up their businesses.

Debt relief will help African states re-establish stability following political disruptions.

Debt relief will help African states make up for the sharp decline in oil and gas revenues and begin building renewable energy sectors.

Debt relief is necessary to flatten the curve. It’s what will give Africa time and space to start carving out a path towards recovery — to take the steps necessary to bring new investment to the oil and gas industry, to build Africa’s sustainable energy sector, to expand business and residential consumers’ access to electric power, to revive small businesses, to promote innovation and entrepreneurship, to foster job creation, and to remove red tape and regulatory obstacles.

Asking for More: Debt forgiveness

Senegal’s president understands this — and I hope the leaders of the G20 group’s members do, too. I hope they can see how reasonable it is for impoverished countries in Africa and other regions to ask for what they need to flatten the curve.

But I’d also like to take it a step further. I’m going to ask for more.

I’m going to ask for debt forgiveness.

I’m going to suggest that members of the G20 group agree to forego payments from African debtors — specifically, from eligible African debtors. And by eligible debtors, I mean countries that commit themselves to a forward-looking agenda that includes wide-ranging and market-oriented reforms, as well as safeguards for economic freedom, good governance, free trade, and investment in education.

All of these points are in line with the ideals that have helped most G20 member states achieve so much with respect to economic growth. What’s more, they are exactly the sort of things that African states ought to do in order to maximize their chances of building up the momentum lost as a result of the pandemic — and to extend their recovery far into the future, beyond the point when vaccines, cures, and more effective treatments remove the threat of COVID-19.

I hope that G20 lenders to Africa will see it my way. I hope they will agree to help Africa do as much as it can to flatten the curve.

African Policy Dialogue discusses way forward for sustainable youth employment

September 15, 2020

Bright Wireko-Brobby, Deputy Minister of Employment and Labour Relations

The African Policy Dialogue organized a stakeholder engagement on youth employment in Ghana. ‘The Way Forward for Sustainable Youth Employment’ is an initiative by the Department of Economics, University of Ghana Legon, the Ghana Netherlands Business and Culture Council (GNBCC) and the Netherlands African Business Council (NABC) with support from INCLUDE Knowledge platform.

The session was attended by over hundred people from various sectors: private sector, public sector, knowledge institutions, NGOs/CSOs, political parties and support institutions. Young people were also present during the meeting to share their opinions. When making policies about the youth, their perspective should also be part of the equation. The aim of the session was to encourage the exchange of existing and new knowledge across sectors in Africa.

The meeting was opened by Bright Wireko-Brobby, Deputy Minister of Employment and Labour Relations who emphasized on the importance of youth empowerment. Gladys Ofei, Senior Trade Officer at the Netherlands Embassy in Ghana in her speech encouraged participants to share their knowledge to create more opportunities for the youth in Ghana.

The challenge of generating adequate quality of employment for the growing labour market entrants remains a major socio-economic and political problem in Ghana which is highlighted by Prof. William Baah-Boateng as described in his latest research paper. This research paper ‘Africa Youth Employment Insights: Ghana Brief’ summarized the challenges and recommendations to build towards sustainable youth employment in Ghana.

The participants had different round table discussions on possibilities for youth employment across sectors. All the input gathered during the meeting will feed into a discussion paper on youth employment in Ghana and will be followed up by expert meeting in the beginning of 2021.

INCLUDE platform is a Dutch-African platform that promotes evidence-based policymaking on inclusive development in Africa through research, knowledge sharing and policy dialogue.

Six hospitals receive over15, 000 nose masks from MTN

September 15, 2020

MTN donation — MTN donates 15,000 nose masks to six hospitals

In line with its corporate social responsibility to support the fight against COVID-19 in the country, MTN-Ghana has donated over 15,000 KN95 nose masks to six hospitals in Bono, Bono East and Ahafo Regions.

The beneficiary health facilities are: Regional Hospital-Sunyani, Kwatri Polyclinic (Bono), Holy Family Hospital-Techiman, Abrafi Hospital (Bono East), Goaso Government Hospital and St. Elizabeth Hospital-Hwediem (Ahafo Regions).

MTN Team Lead for the three Regions, Kwasi Kwarteng, who led the distribution exercise said the telecommunication giant would not relent in its effort to complement government’s COVID-19 combat strategy. He said about 88,500 KN95 would be donated to select health facilities across the country. “We need a strong and healthy frontline workforce to defeat COVID-19, hence the donation.”

Receiving the items, Dr. Cardinal Newton, Medical Director, Regional Hospital-Sunyani expressed heartfelt appreciation to MTN for the kind gesture, describing it as timely and handy donation to help the combat against COVID-19. Donations of such essential items to hospitals are very critical, he added.

He urged the public not to be complacent about the fight against coronavirus and adhere to the safety protocols. “We should take a cue from the second wave of infections European and Asian countries. To avoid similar situation in the country, all and sundry must follow the laid down protocols such as social distancing, frequent hand washing with soap and wearing of nose masks among others.”

Since the outbreak of COVID-19 pandemic, MTN has invested over GH¢100 million to support in diverse ways. The COVID-19 investment covers staff and customers’ protection, and support to government in managing the outbreak.

Editorial: Increased credit to manufacturing signals economic rebound

September 15, 2020

Empirical assessment of manufacturing sub-sector’s performance

The Statistical Bulletin report (June 2020) has shown increased credit support to the manufacturing sector following a decline in March when the coronavirus pandemic first reared its ugly head.

Credit to the sector in March fell to GH¢4.7billion from GH¢5.10billion the previous month. But following that decline, loans advanced to the sector increased to GH¢5.06billion in April, and continued in that upward trajectory to GH¢5.30billion and GH¢5.32billion in May and June respectively.

Even though the virus has not been completely eradicated from the country, the increase in loans to the manufacturing sector is a clean bill of health for the economy, considering the fact that the manufacturing sector has suffered persistent low growth in times past.

After hitting an impressive 9.5 percent in 2017, the sector’s growth declined to 6.3 percent in 2019. Indeed, the manufacturing sector grew by an impressive 9.5% in 2017, up from 7.9% in 2016 and 3.7% in 2015.

It is particularly refreshing to hear the manufacturing sector is finally bouncing back to life. Manufacturing’s contribution to the economy has decreased slightly over the past decade, this was in large part due to the growth of the contribution of the oil sector to GDP.

If the manufacturing sector is getting more access to finance, it would help it to invest, expand, and employ more people which is a good sign for the economy. In fact, Prof. Eric Osei-Assibey of the University of Ghana believes this trend could see hastened growth of the economy.

Manufacturing, he notes, is a labour-intensive sector and therefore, if you want inclusive economic growth, it has to be driven by the manufacturing sector or the agriculture sector.

Professor Osei-Assibey notes that one of the key constraints of manufacturing sector is access to credit, so if that constraint is being addressed, then we expect the sector’s performance to improve in the years ahead.

As the severity of the pandemic has been curbed, it is welcoming to learn that credit is being advanced to the sector even as government intensifies the resuscitation of the manufacturing sector with its flagship 1D 1F programme.

We are hopeful that if credit to the sector is maintained or even improved, there is no doubt that the sector will continue to grow and create job openings for Ghanaians to take advantage of. The average lending rate of commercial banks, though declined marginally, still remains high for businesses. This is another constraint for businesses.

1D1F will reduce high rate of post-harvest losses

The country losses about US$700,000.00 annually to post harvest losses. The Ministry of Food and Agriculture estimates that 20-50% of perishables like fruits, vegetables, root and tuber crops that is produced in the country is lost due to post-harvest losses.

An increase in post-harvest losses constitutes an unfortunate and avoidable reduction in the incomes of farmers. Many farmers in the Upper West region are harvesting tomatoes which has resulted in a glut situation there.

However, the full implementation of the one-district one factory concept in production centres around the country could also help to curb high post-harvest losses for products like tomatoes and other perishables.

Just last week, President Nana Addo Dankwa Akufo-Addo inspected ongoing work on the construction of the US$16 million Weddi Africa tomato processing factory located in Domfete, in Berekum, Bono East Region. Operating under Government’s 1-District-1-Factory initiative, the factory is a wholly-owned Ghanaian company, which will have an installed capacity to process 40,000 metric tons of fresh tomato per annum

Also, not too long ago in December last year, the President inaugurated a tomato processing factory and a free zone enclave at Doryumu in the Shai Osudoku District in the Greater Accra Region. The US$23-million tomato processing factory is also under the 1D1F initiative with the capacity to employ 600 direct staff and can produce an estimated 54,000 tonnes of tomato paste annually.

With such projects springing up, very soon the issue of post-harvest losses for perishables like tomatoes will become a thing of the past since the factories has the capacity to absorb excess produce and add value to be sold on the open market.

We are confident that with the establishment of such factories, the country will be positioned to take full advantage of the continental free trade zone (AfCFTA) which kicks off in January. Indeed, it would be sad that the country that hosts the AfCFTA Secretariat cannot participate meaningfully in intra-African trade because of a lack of capacity.

Minister of Information, Kojo Oppong-Nkrumah recently told Ghanaians that a total of 76 factory projects executed over the last three years under the ‘One District, One Factory’ initiative has been completed and operating.

He said an additional 232 of those projects were at various stages of completion. With such a string of factories in the horizon, we can confidently say will are well-positioned for AfCFTA.

Kandifo Institute embarks on anti-suicide campaign

September 15, 2020

Educational and Creative composition with the message Stop Suicide on the blackboard. Credit: Harvard Health - Harvard University

Suicide is one of the most terrible thoughts to ever cross the mind of an individual. Suicide is the result of a concurrence of genetic, psychological, social, cultural and other risk factors.

Why suicide?
What are the risk factors/causes of suicide?
How to prevent cases of suicide
How and why the citizens and the government of a country should be involved in the prevention or reduction of suicide.

Suicide is an act of taking one’s own life or causing one’s own death. But there is more to that than taking one’s own life. Suicide comes in different ways or forms. Attempted suicide, Homicide suicide, assisted suicide etc. The risk factors of suicide go beyond mental disorder. There are several other factors that makes an individual want to commit suicide.

Psychosocial factors (depression, anxiety, loss of pleasure in life, agitation, rigid thinking, lack of social support etc.)
Socio-economic factors (Unemployment, Financial crisis, poverty)
Substance abuse or misuse
Medical conditions
Trauma, personal issues also the history of suicide in an individual’s family can also be a risk factor
The media: The media, because people seem to imitate what is been portrayed on the internet, TV etc. Videos of how suicide is done viewed by vulnerable victims give these victims the avenues of committing suicide. Not only videos but movies with such actions portrayed in them also influence on vulnerable victims of suicide.
Other factors include bullying, rape, child abuse etc.

According to research, approximately 0.5 to 1.4% of people die by suicide in a year worldwide with a mortality rate of 11.6 per 100,000 persons per year. Every 40 seconds a person commits suicide somewhere in the world with a strong impact on families and friends is devastating and far reached.

Suicide resulted in 824,000 deaths as at 2013 and globally it’s the tenth cause of death as of 2009 and for every suicide that results in death there are between 10 to 40 attempted suicides. The rate of suicide significantly differs between countries. Ghana’s suicide rate as of 2016 was 5.40% per 100,000 population with an increase of 1.89% from 2015. About 800,000 people die yearly from suicide with most of them suffering from depression.

The most common way of committing suicide in Ghana is by taking poison and by hanging. Most victims of suicide take in pesticides and other chemicals which very known is bad for the human when taking in. About 80% of suicide victims attempted suicide several times and became vulnerable to the idea of committing suicide.

How is the government and citizens involved in decreasing the rate of suicide? Definitely the idea of suicide can’t be eradicated totally in the society or across the world but it can be reduced with the help of every individual and entity. The government and citizens of countries across the globe has a responsibility of decreasing suicide.

Governments can intervene in the reduction and prevention of suicide by creating a national strategy or agenda and a clear commitment to suicide prevention.
Restricting access to the most common means of committing suicide
Social support within communities is also a responsibility of both citizens and governments.
Vulnerable victims can feel better when given attention, making them feel safe and comfortable.
The governments also have a responsibility of making the economy of countries better to the point where the poorest is able to afford basic needs. Making provisions for job availability is also a responsibility for governments to help reduce suicide.
The health workers also have a responsibility to protect and provide good medication for mentally ill persons who are vulnerable to committing suicide.
The media also has a role in reducing suicide This includes educating the public about suicide, risk factors and where to seek help; avoiding sensationalism and glamorization;
Photo: Palgrave Boakye-Danquah, Executive Director, Kandifo Institute

and avoiding detailed descriptions of suicidal acts. Governments can help media with these efforts by releasing public service announcements that raise awareness, identify and treat mental and substance use disorders as early as possible, and ensuring those vulnerable to suicide receive the care they need before it is too late. Mental health and alcohol policies should be integrated into the overall health-care services, and governments should ensure sufficient funding to improve these services.
NGO’s can also help raise awareness to help reduce suicidal acts. Every citizen is involved in this agenda and every family as well.

It is our collective gain to save lives.

>>>Palgrave Boakye-Danquah, Executive Director, Kandifo Institute. He can be reached on [email protected]

Fidelity Bank and IFC Webinar Series: an impactful journey to grow SMEs

September 15, 2020

To support Small and Medium Enterprises (SMEs), Fidelity Bank in partnership with the International Finance Corporation (IFC) initiated a four-part webinar series to offer financial and business strategies for SMEs to navigate the economic downturn caused by the COVID-19 pandemic. The webinar series was organized under the Bank’s new thought leadership series Fidelity Presents.

The webinars were presented by leading IFC Consultant, Master Trainer, and Instructional Designer, Margaret Jackson, who is also the Managing Partner of Rainbow Consult. Moderated by Jimmy Karima Chakacha, an IFC SME Banking Analyst based in Kenya, the webinar series provided SMEs with valuable insights on the following topics: Surviving Today to Thrive Tomorrow; Accessing Finance During Crises; Communicating with Stakeholders During Crises, and Adjusting your Business Plan During Crises.

Explaining the rationale behind the SME webinar series, Julian Opuni, Managing Director of Fidelity Bank Ghana, said: “SMEs are a critical segment of the bank and our economy and the COVID-19 pandemic has significantly impacted that sector, among others. Therefore, it was important to present them with practical tools to help them to sustain their businesses through this challenging time.”

“In addition to this training webinar, we supported our SME clients with interest rate reductions across various sectors, provided short and medium-term measures such as loan moratoriums and restructuring of loans to cushion repayments, digital banking, and other capacity-building programmes to help overcome COVID-19 related challenges,” adding that, “in the coming months we will launch innovative programmes aimed at expanding our support to young entrepreneurs in the country,” Mr. Opuni stated.

Mr. Opuni further disclosed that “This informative webinar series, was designed to help SMEs to remain afloat by instilling in them the importance of being innovative to better serve clients, reducing wastage, improving customer service, and establishing digital protocols to ensure productivity.”

Webinar Takeaways

The first webinar, titled An SME Perspective: Surviving Today to Thrive Tomorrow, saw participants learning about controlling costs, avoiding wastage, increasing sales, identifying the difference between making a profit and being profitable as a business, understanding how to adjust pricing to respond to market changes and determining how to make business changes during a crisis.

The second webinar focused on the topic of SMEs Accessing Finance During Crises. This webinar addressed the subject of how to access loans, funds and grants to grow your business during and after the COVID-19 crisis. On the possible reasons for pandemic borrowing, SMEs were advised to invest borrowed money into technology and not to use it to pay debt to prevent the business from entering into a cycle of debt. Participants took part in creating a plan to keep their businesses profitable by managing cash flow and adapting for the future.

Communicating with Stakeholders During Crises was the topic of the third Fidelity IFC webinar session. The objective of this session was to help participants to fully appreciate the importance of communication and to highlight how being open with stakeholders’ curbs speculation, anxiety and uncertainty about the future of business relationships, especially in the COVID-19 era.

SMEs were trained to conduct a stakeholder analysis to know their constituents or target groups as every group has different needs, and information is important to them at different times. In times of crisis, SMEs were encouraged to communicate the good things that they are doing, whether it is helping a community or partaking in other social impact activities.

Furthermore, there is the need to review and adjust your long-term plans, hence the final webinar was dedicated to the topic of Adjusting your Business Plan During Crises. The COVID-19 pandemic has caused a huge shift across many aspects of the business world; therefore, SMEs now need to pivot to adapt to the new normal.

They must review and adjust their long-term plans, protect clients and staff, cut costs and manage cash, monitor and adjust commercial levers quickly and invest for the long term, as recommended during the webinar.

Margaret Jackson, lead facilitator of the webinar series, trained participants to conduct a SWOT analysis of their business to determine how deeply they have been impacted by the crisis.

In adjusting their business plans, SMEs were advised during the webinar to critically assess and analyze their customers, workforce, old and new markets, procurement and supply chains, pricing and products.

SMEs drawn from various sectors of the economy took part in the webinar and the majority expressed satisfaction and appreciation for the insightful lessons learnt.

The webinar series forms part of Fidelity Bank’s “Together We’re More” brand promise that views success as a collaborative effort between itself, customers and the general public. Indeed, Fidelity has demonstrated that by working together with their customers, they can collectively achieve greater things.

With its brand promise of ‘Together We’re More’, Fidelity Bank Ghana is the largest privately-owned Ghanaian bank and the 4th largest in terms of assets and deposits. The Bank has two subsidiaries: Fidelity Asia Bank Limited and Fidelity Securities Limited. It currently has seventy-five branches, about 2000 agents and over 114 ATMs nationwide.

Kete Krachi Timber recovery is unique 1D1F

September 15, 2020

PHOTO-2020-09-12-11-56-16 — KKTR was inaugurated by President Nana Addo Dankwa Akufo-Addo in November 2018 as 1D1F.

Kete Krachi Timber Recovery Limited, (KKTR) operators of the Volta Lake Timber Concession under the One District Factory One Factory (1D1F) dispensation, stands out as a project living up to the aims and objectives of 1D1F in transforming rural livelihoods and bettering the economy of Ghana in general, Mr. Seth Kugblenu, Senior Programme Officer of the Ministry of Monitoring and Evaluation has observed.

Leading a monitoring team from the Office of the President to the Project Office of KKTR at Sedorm-Yiti in the Asuogyaman District of the Eastern Region, to assess the impact of the Project, Mr. Kugblenu said the operations of KKTR were unique and environmentally friendly in line with the Sustainable Development Goals (SDG’s).

He said the initiative of Management of the Project to introduce the diver-based concept in training local fishermen to dive to cut the stumps from under the Volta Lake in addition to the application of the Shallow Harvest Recovery Concept, (SHARC) equipment which was purposely manufactured for its operations, was commendable as it provided the opportunity to employ more local labor.

He appealed to state Agencies which have a role to play in enabling KKTR to perform to its peak to do so without hesitation as the Company has the potential to solve a number of problems including the provision of alternative source of timber, making the Lake Volta safe for transportation and fishing as well as enhancing aqua-culture.

Mr. Ali Marnah, the Production Manager and Mr. Prince Ofori Boateng, Health, Environment and Safety Officer of KKTR both took the monitoring team through the operations of the Company, disclosing that off-cuts of the timber recovered from the Lake are used in the production of charcoal in a controlled process that reduces Carbon Dioxide as compared to the traditional ‘bury and burn’ methods.

They said the Forestry Commission recently ranked KKTR as one of the leading exporters of timber products by species in the country ‘without cutting a single living tree’ and that the Diver-based timber salvage will also enable the company, which currently employ 129 people, to employ over 180 youth from communities abutting the Lake.

The monitoring team from the Office of the President was made up of officials from the Ministry of Finance and Economic Planning, Ministry of Monitoring and Evaluation, Ministry of Trade and Industries, and the Asuogyaman District Assembly.

KKTR was inaugurated by President Nana Addo Dankwa Akufo-Addo in November 2018 as 1D1F.

Police bust another illegal insurance operator

September 15, 2020

The National Insurance Commission (NIC) in collaboration with the Police has again blown the lid off another unlicensed Insurance brokerage firm operating under the name Family Fountain Insurance Brokers. This Company has been operating for some time now as an intermediary with the tacit connivance of a direct underwriting company.

The suspects, whose modus operandi are perpetrated at the premises of the Aayalolo Transport Terminal in Accra Central, have been serving as an intermediary between the unsuspecting insuring public and a known licensed underwriting insurance company. They are currently under Police investigations and if found culpable would face criminal prosecution according to Law.

The discreet approach employed by the Special Investigative Unit of the NIC and the Police on September 9, 2020, led to the suspects unknowingly disclosing their modus operandi after weeks of surveillance and trailing.

Armed with conspicuous information, the suspects were picked up by the Police.

The NIC will also investigate the underwriting company involved and would apply the relevant sanctions as stipulated under the Insurance Act 2006 (Act 742) of the National Insurance Commission (NIC) which makes it a crime to engage any unlicensed insurance intermediary.

The Insurance Act requires that before an entity can commence insurance business in Ghana it must be licensed by the NIC. Akin to driving without a licence, the NIC will not colour any pink as red when an individual or entity contravenes the Law with the view of protecting innocent Ghanaians.

The reason is to ensure that such an entity meets the statutory minimum capital requirement and has qualified people to manage its operations. It is also to give the NIC the opportunity to check on the ownership structure and trace the background of the shareholders to check for any possible criminal impropriety.

According to the Commissioner of Insurance, Mr. Justice Ofori in previous media engagement, “the Regulator is also interested in finding out the source of the Company’s capital. The Directors must also have minimum academic and professional qualifications and must be people of integrity to superintend over the affairs of the business. Among the employees, there should also be qualified insurance professionals with some minimum requisite experience. Beyond that, the Regulator is interested in knowing the investment mix of a company and ultimately its claims payment culture”.

Mr Ofori added that a company’s office is inspected by the Regulator to ensure that it is conducive for transacting insurance business. All these are done to protect the public interest and prevent the breach of public trust. The Commission will, therefore, not renege on this duty.

In Ghana, an insurance company is licensed to operate either as a life insurer, non-life (general) insurer, reinsurer, or insurance brokerage firm. In the case of FAMILY FOUNTAIN INSURANCE BROKERS, the only thing that will qualify it as such is the licence after having met all the basic requirements, which they circumvented.

Following the arrest of the officials of the Family Fountain Insurance Brokers, the Deputy Commissioner of Insurance, Mr Michael Kofi Andoh, used the opportunity to advise all and sundry to report the activities of any nefarious and suspicious character or Company trading or soliciting for insurance business without due authorisation to either the Police or the nearest NIC Office nationwide.

“It is important for the general public to join us to condemn this practice and to shame those involved as we desire to have a sound, clean, financially stable insurance system. To verify the authenticity of any insurance entity in good standing, members of the general public are encouraged to visit the NIC’s website: www.nicgh.org”, he disclosed.

Felix Ekow Eshun’s thoughts: Startup business and tax issues

September 14, 2020

When forming and operating a business, startup owners obviously will be prone to some critical tax issues. This is because most startup owners have either some basic knowledge or no knowledge at all when it comes to the issue of tax. By paying attention to these issues, startups can position themselves well to take advantage of some meaningful tax benefits and avoid tax problems.

It is also notable that although it might seem expensive at the beginning of a business to engage the services of professionals such as Chartered Accountants, Lawyers and Tax professionals, however, it is the best decision to consider so the business doesn’t suffer in the future as a result of lacking knowledge in the area of taxation.

Young business owners can also make it a point to visit offices of the various revenue agencies to acquaint themselves with some knowledge in taxation; i.e., when they find it difficult to procure the services of tax professionals.

Nonetheless, the question that arises is: how well must we plan with respect to taxation for Startups?

While it is perfectly fine to have better understanding of taxation as a Startup owner, utilising proper methods for tax planning would be a better move in the long run. One good way is to have some appreciable level of insight in relation to taxation for future planning.

It is extremely important to understand your tax obligations when starting a small business, including effective record-keeping. A new business owner should be prepared and understand the kinds of taxes relating to the business. The following are the tax categories which operate in Ghana under our tax legislations:

Direct and Indirect Taxes:

Direct Taxes

Direct taxes affect income of the recipient visibly. The income is reduced by the imposition of tax, and the difference between the gross and the net is clear and obvious.

The burden falls on the income earner

Income Tax:

Income tax is imposed on all sources of income as stated in section 7, 8 and 9 of the Internal Revenue Act, 2000 Act 529.

Examples of such incomes are from:

Business, which includes trade, profession and vocation
Employment

Investment from sources such as interest, rents and royalties.

Capital Grains

This is levied on the realisation of chargeable assets such as land and buildings, where gains from the realisation exceed GH¢50.00

Gift Tax

This is levied on specific gifts, either in cash or in kind, with a value exceeding

GH¢50.00

Indirect Taxes

Indirect Taxes on the other hand are not so visible. They are taxes on goods and services, and are normally passed on to customers of the product or service. The seller or service provider might not bear the tax. The tax is sometimes treated as part of his operational expenses and is added to cost of the product or service.

Examples of indirect taxes are:

Customs Duty
Excise Duty

Value Added Tax

All the stated taxes are used primarily as a source of revenue for governments all over the world. The revenue is used to help governments in administration of areas under their jurisdiction. It is used also to provide social infrastructures such as roads, hospitals, schools and public services.

It is also important to get things right, and the following are points to consider to avoid tax problems that many start-up companies experience:

Form a proper structure from the beginning; your form of business determines which income tax returns you will have to file:

Sole Proprietorship: A sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest form of business organisation to start and maintain. The business has no existence apart from you, the owner. Its liabilities are your personal liabilities. You undertake risks of the business for all assets owned, whether or not used in the business. You include the income and expenses of the business on your personal tax returns.
Partnership: A partnership business is a relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labour or skill, and expects to share in the profit and losses of the business. A partnership must file annual returns and accounts to report the income, deductions, gains, losses etc. on its operations, but it does not pay income tax. Instead, it passes any profits or losses through to its partners.

Each partner includes his or her share of the partnership’s items on his or her tax return. Partnership income for a basis period of a resident or non-resident partnership is accessible income under section 6 of Act 592 (the accessible income) in which chargeable income is based. This means that all remitted foreign income will be included in the income of the partnership, irrespective of the residence of the partnership.

Limited Liability Companies: A limited Liability Company is an entity formed under the state law (the Companies Act). It must be understood that none of the members of a Limited Liability Company are personally liable for its debts, which means that a company is liable for tax on its chargeable income in accordance with sections 5 and 6 of Act 592.

A dividend paid to a resident company by another resident company is exempt from tax, when the company receiving the dividend controls directly or indirectly 25% or more of the voting power in the company paying the dividend.

The above exemption does not apply to dividend paid to a company by virtue of its ownership of redeemable shares in the paying company (subscription for redeemable shares may be structured in such a way that they are a substitute for a loan).

What to do when starting business

Inform the Ghana Revenue Authority
Have clear and accurate records of

Earnings
Day to day expenses
All capital expenditure
Staff wages
Submit accounts and other tax returns at the end of the basic period

Record-keeping

One of the key factors in the start-up business is the culture of good record-keeping, especially records that will come in handy when it is time to think about taxes on the business. Good records can help your business in a variety of ways, from monitoring your business financial growth to the preparations of your business financial report and tax returns

Suggestions to help you keep better records for tax purposes include the following:

Monitor the progress of your business

You need good records to monitor the progress of your business. Records can show whether your business is improving, which items are selling, or what changes you need to make. Being on top of this information by keeping good records can increase the likelihood of your business success.

Prepare your financial statements

Good records are a must in order to prepare detailed and accurate financial statements. This statement can help you not only in filing your tax returns but also help to manage your business in any efficient manner.

Identify the source of receipts

You will receive money and/or property from many sources during the course of business, and your records can identify the source of those receipts.

This information is valuable due to a couple of reasons.

Firstly, it will separate your business receipts from your non-business receipts. Secondly, it will separate your taxable income from your non-taxable income. This business record can also be helpful in the event that your business is audited by the tax authorities

Keep track of deductible expenses

Valid business expenses are deductible, and the best way to lower the amount of taxes your business will be obliged to pay is to keep good records. Generally, an expense is deductible if it is ‘ordinary and necessary’ in running your business. It is a good idea to keep track of business expenses by recording them as they occur, otherwise you may forget them when the preparation of your tax returns are due.

Support items reported on tax returns

There is always a chance that your business may be audited, so it’s a must that you keep business records and make them available at all times for inspection by either the Ghana Revenue Authority or your own reporting Accountants.

In the event that your records or tax returns are examined by the Ghana Revenue Authority, you may be asked to explain the items reported; so a complete set of records will speed up the examination. Please note that if your business is audited, the auditor is allowed to access and review your personal financial records as well.

Maintaining a record of the source of receipts can help ensure that proper deductions are claimed, and deductions questioned by a tax authority have the appropriate support. Comprehensive records assist with the preparation of accounts and other tax returns, and provide a strong defence against any suspicion of wrong-doing.

Note: it’s always advisable to engage a tax professional or an experienced accountant to assist you in these areas.

An experienced accountant can help you reduce your tax exposure once the best record-keeping is practiced.

Others factors worth consideration

There are many factors for new startup companies to consider. Between planning how to handle management, hiring, buying, marketing, restructuring and all of the other facets of a ‘new startup’, the issue of taxes can often be placed on the backburner.

The key is to set aside time to study what common tax issues plague businesses similar to yours, to avoid making the same kinds of mistakes.

This can go a long way in preventing any taxation-based unpleasantness later on. Below are other ways to avoid tax problems that many startup companies experience.

Form a proper structure from the beginning
Separate personal and business expenses
Do not forget about payroll taxes if you want to avoid steep penalties
Hire experienced tax professionals
Hire third-party players with proper agreements.

Conclusion

To make things easier for startups, government must ensure that the Registrar-General’s Department collaborates with other quasi-government agencies such as the Revenue Agencies to have a one-stop-shop where the Tax Agencies will not only focus on issuing TIN Numbers to newly registered businesses, but also provide some basic tax information right from the word go. Examples may include why the need to comply with payment of taxes, and all the benefits that are associated with tax payments.

Again, government can consider giving some special dispensations to startups by granting tax holidays within, at least, the first year of their business to enable them get the right footing before eventually being taxed. Startups should be educated on concepts of tax compliance, as it’s beneficial to them and sets them free from getting into legal issues which may impede the growth of their business.

>>>Felix Ekow Eshun is a Banker and Supply Chain Professional. He is also a member of the Young African Leaders Initiative (YALI) and an entrepreneur. Email: [email protected]

Richmond Dadzie has worked extensively in Accounting firms and Banking Institutions. He has successfully dealt with cases in tax and audit issues for Companies and Institutions. He is a chartered Tax Accountant and a Certified Forensic Auditor. You can contact him on [email protected].

Emmanuel Owusu’s thoughts: Localising African Continental Free Trade Area

September 14, 2020

The African Continental Free Trade Area (AfCFTA) agreement was signed on March 21, 2018, by 44 member-countries: to create a continental market for goods and services, with free movement of people and capital; as well as facilitate space for the creation of a Customs Union. This trade area is expected to unite Africa’s human population of 1.3 billion in a potential US$3trillion economy, with a consequential economic benefit of making Africa the world’s largest free trade area since the formation of the World Trade Organisation.

The main objective of the AfCFTA is to expand intra-African trade through better harmonisation and coordination of trade liberalisation across the continent. The AfCFTA is further expected to enhance competitiveness at the industry and enterprise levels through the exploitation of opportunities for scale production, continental market access, and better reallocation of resources.

Industrialising through AfCFTA

In order to convert the colonial economic model into a more functional and structured trade-driven economy, we need to stimulate industry profiling to determine which kind of industries are operating in Ghana and what they produce to guide us in knowing what we are selling to Africa through the AfCFTA model. We can achieve this through engaging trade agencies under the Ministry of Trade and District Assemblies, where these industries operate from, or through the Registrar-Generals’ Department. This profiling will help the country fully benefit from AfCFTA through a structured system because as a country we can easily determine which industries are bringing the state revenue from the AfCFTA model.

We need to also tie in the 1 District 1 Factory Policy to AfCFTA, by establishing factories that can serve the underserved trade areas of the African market. This we can do by empowering local industries to scale-up their production.

Key to the above is improving trade facilitation to boost trade and reduce costs. Ghana could take a number of steps to achieve this by making sure all Customs locations have information technology systems that support core processes and can be used by traders and officials without compromising Customs rules and regulations.

COVID-19 Lessons and the New Trade Normal

COVID-19 has taught the world that you don’t need to be physically present in a particular country to do business. It has removed all physical trade barriers and reaffirmed the need to trade virtually. In view of this, to effectively benefit from AfCFTA we need to establish an on-line trade portal that enables neighbouring African countries to trade with Ghanaian businesses virtually.

This virtual platform will be called the Ghana Trade Mall, with the single goal of bringing together Ghanaian businesses to connect with prospective trade partners across the continent. This platform will connect with our port and banking system to allow for easier export activities and payment.

To achieve this, the Ministry of Trade must show leadership by collaborating with Ghana Investment Promotion Centre (GIPC), Ghana Free Zones Board (GFZB), National Board for Small Scale Industries (NBSSIs), Ghana National Chamber of Commerce (GNCC) and other relevant stakeholders to establish this common platform.

Through this platform, Ghanaian business can reduce trade-cost and time, which will make them more profitable and on top of the continent with regard to trade and industry.

About the Author:

Emmanuel Owusu is Policy Analyst with considerable knowledge and expertise in local economic development, policy formulation and strategic management.

He is currently the Executive Director of Movement for Responsible and Accountable Governance (MoRAG), a civil society organisation.

Contact the Author on 0248110208, [email protected]

Grosso Foods Group: A new entrant in African agri-business

September 14, 2020

Patronage of fertiliser for this year’s planting season is hitting a snag – an all-time low - as farmers are currently having difficulties procuring the commodity for crop production due to rising costs. — Farmers

In this new era of growing African agribusiness opportunities, a breakthrough in agriculture can change global food systems and drive African prosperity.

In a recent virtual media launch, Grosso Foods Group was announced as a new entrant in the African agri-business sector with a vision to accelerate agribusiness growth and investments in Africa – geared toward boosting food security, economic growth, and climate-smart investment.

Grosso Foods Group is founded by its CEO, Nuradin Osman, who has an extensive global background in agriculture.

As an Africa-focused agribusiness with over 30 years combined experience in all aspects of the business across the value-chain, Grosso Foods Group is optimally positioned to become Africa’s leading investment and advisory partner for intermediary-sized agribusiness across the continent.

Grosso Foods Group intends to lead the complete agribusiness value chain from farms to fridges, providing protein-rich healthy foods for the growing African and global market.

Their flexible client-focused approach, blended with strong technical and business administrative acumen, accommodates the need for both short- and long-term projects, mitigating associated risks and ensuring success.

The launch comes amid challenging times for the world, resulting from the rampant
COVID-19 pandemic that has shrunk economies and impaled livelihoods across the globe.

This has however presented an opportunity for localised solutions, deeply rooted in local communities, to yield benefits that reach the furthest corners of our world.

Agriculture in Africa has been characterised as subsistence farming – a narrative Grosso Foods Group aims to change by helping to increase local ownership of the entire value chain – including land, farming technology, processing, marketing and distribution – for a positive impact on socio-economic development of the respective regions.

Grosso Foods Group will lead the African agricultural revolution through sustainable localised solutions and put healthy food in the fridge sourced no more than 200kms from local farms. Their investment in African agribusiness will result in social uplifting and the creation of opportunities for people of the continent.

The founder and CEO of Grosso Foods Group, Nuradin Osman, has reiterated that Grosso Foods Group will focus on resilience in food production; mechanisation, technology and innovations for agribusiness; optimisation of value-chains and value addition; skills and capacity development; integrated agricultural trade and market access; boosting competitiveness in the livestock sector; boosting irrigation for high-yielding crops; setting up storage and processing facilities and other key areas of agriculture.

“If you’re ready to grow with us, we are ready to provide the investment and expertise to drive African agribusinesses to prosperity in this new era of growing opportunity,” Mr. Osman added.

Afreximbank disburses US$200m for Zenith Bank to cushion COVID-19 impact

September 14, 2020

Prof. Benedict Oramah, President Afreximbank

African Export-Import Bank (Afreximbank) has disbursed US$200million to Zenith Bank Plc Nigeria under its Pandemic Trade Impact Mitigation Facility (PATIMFA).

The funds will assist Zenith Bank to continue maintaining foreign currency trade flows impacted by the COVID-19 pandemic. They will also allow Zenith Bank to on-lend to eligible sub-borrowers involved in the manufacture and supply of medical resources needed to combat the COVID-19 pandemic.

Speaking on the facility, the Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu said: “The Afreximbank facility undoubtedly underscores the confidence reposed in Zenith Bank, and it will enable the bank to contribute to the fight against the COVID-19 pandemic by providing trade finance and foreign currency funding for the importation of urgent medical equipment and raw materials.”

Ebenezer Onyeagwu, Group MD /CEO of Zenith Bank

Zenith Bank Plc is Nigeria’s largest bank by Tier-1 capital. The bank serves more than 9 million corporate and individual clients through its network of over 500 branches across Nigeria and its subsidiaries in the Gambia, Ghana, Sierra Leone and the United Kingdom. It also has a representative office in Beijing China, and in Dubai (UAE) a branch of Zenith Bank UK.

Prof. Benedict Oramah, President of Afreximbank said: “The Pandemic Trade Impact Mitigation Facility (PATIMFA) is designed to support and stabilise the foreign exchange resources of African countries, enabling them to support critical imports under emergency conditions. We are pleased to contribute to keeping economies going, especially during this pandemic.

“The role that banks such as Zenith Bank play in Africa is huge. Supporting them to carry out their mandate is our greatest contribution to making sure that African countries and institutions build back better from shocks of the pandemic,” Prof. Oramah added.

PATIMFA was set up in March 2020 to provide financing to assist Afreximbank member-countries to adjust in an orderly manner to the financial, economic and health services shocks caused by the COVID-19 pandemic. This 3-year medium-term facility has been availed through direct funding.

Afreximbank has already disbursed more than US$3.5billion under PATIMFA. In addition, the Bank provided a grant of US$3million toward the COVID-19 Special Fund set up by the African Union, as well as to the African Centre for Disease Control and other agencies.

Afreximbank has a history of providing support to African economies in times of economic crisis. During the 2015 economic crisis, it introduced a Counter-Cyclical Trade Liquidity Facility under which it disbursed more than US$10billion on a revolving basis to enable member-countries to adjust to the adverse economic shocks.

That facility helped key African economies to manage that crisis and recover swiftly.

Emmanuel Acquah-Sam’s thoughts …Evaluation of the endless cycle of rising national debt

September 14, 2020

National debt – also known as government debt, sovereign debt, country debt, or public debt – is money owed by a government at any level (central government, local government, or any government agencies) to individuals, organisations and nations at a particular point in time.

Researchers, academics, ordinary citizens, journalists and politicians make a hue and cry about the rising national debt when it is mentioned because of its implications for inclusive sustainable economic growth and development.

In some periods of Ghana’s development path, its development partners decided not to lend it any further support because of the country’s inability to pay its debts owed them. Reference is made to the ex-Head of State, General Ignatius K. Acheampong who ruled from 13^th January 1972 to 5^th July 1978 and was reported to have allegedly said: “we will not pay the debt”.

Again, during the administration of ex-president John Agyekum Kufour (2001 to 2008), Ghana applied for debt forgiveness through the Highly Indebted Poor Nations (HIPC) Initiative from its development partners when it became evident that the nation could no longer use its limited resources meant for development to repay its debt.

The Business and Financial Times of Wednesday, September 30, 2009, reported that Ghana’s total public debt stock at the end of July 2009 rose to US$8.12billion, equivalent to 54.9% of Gross Domestic Product (GDP).

In December 2008, the public debt stood at US$7.92billion, equivalent to 54.6 percent of GDP.

On January 7, 2009, the late President Evans Atta Mills in his inaugural address to the nation said that Ghana’s overall national debt had hit over US$7billion as at December 2008.

During the same period Ghana’s fiscal deficit (that is the excess of expenditure over revenue) was GH¢2.5billion (about 15% of GDP).

The balance of payment deficit for the period was estimated at about GH¢3.42billion, 18% of GDP.

The Bank of Ghana (BoG) also reported in April 2010 that data on the 2009 budget indicated government’s fiscal operations resulted in a deficit of GH¢2.1billion (9.9 percent of GDP) compared with GH¢2.6billion (14.5 percent of GDP) for the same period in 2008.

The fast-paced growth of expenditures observed in the first quarter of 2010 was driven mainly by the clearance of road and non-road arrears and part settlement of Tema Oil Refinery’s (TOR) indebtedness to the Ghana Commercial Bank (GCB), all totalling about GH¢700million (2.8 percent of GDP).

Ghana’s total public debt stock which stood at US$9,303.7million increased steadily to US$22,737million at the end of August 2013.

Out of this, total external debt amounted to US$10,167million, (i.e. 44.72 percent of GDP) and domestic debt was US$12,569.83million, representing 55.28 percent of the debt stock (MoFEP, 2014).

Adombila (2014) reported that between January 1, 2014, and September 19, 2014, government domestic borrowing through the sale of short-term securities amounted to GH¢26.18billion – up from the GH₵19.03billion it borrowed within the same period of the previous year.

Today, too, though there are conflicting views on the actual amount of money Ghana owes to its creditors (domestic and international), records indicate that the nation’s debt stock has been on the rise and needs to be properly assessed.

JoyBusiness (2020, May 15) reported that Ghana’s total debt stock at the end of March 2020 stood at GH¢236.1billion (equivalent to 59.3% of GDP).

Out of the total debt stock of GH¢236.1billion, US$22.9billion was external debt (representing 31.4% of GDP) and GH¢113.3billion was secured locally (representing 28% of GDP). Adombila (2020) wrote that Ghana’s debt stock had risen to GH¢258.4billion in June 2020.

According to the 2020 African Economic Outlook, at the end of June 2019, total public debt in Nigeria amounted to US$83.9billion – 14.6% higher than that of the previous year. That debt represented 20.1% of GDP, up from 17.5% in 2018. South Africa’s national government debt was estimated at 55.6% of GDP in 2019, up from 52.7% in 2018 (African Development Bank Group, 2020). In addition, over the period 2010 to 2018, sub-Saharan Africa’s average public debt increased by half from 40% to 59% of GDP – making sub-Saharan Africa the fastest-growing debt accumulation continent, far beyond other developing regions (Carneiro & Kouame, 2020).

Similarly, the United States of America has rising national debt. Congressional Budget Office (2018, cited in Yared, 2019) reported that:

Since United States government debt as a fraction of GDP reached a trough in the mid-1970s, it has been on a generally upward trajectory…it is now approaching levels not reached since World War II and is projected to continue increasing significantly over the coming decade.

McBride, Chatzky & Siripurapu (2020) also write that the US government’s massive emergency-spending in response to the new coronavirus disease pandemic, COVID-19, was projected to take the US government budget deficit to levels not seen since World War II. This expansion followed years of ballooning debt that totalled about US$17trillion in 2019. As at August 2009, the US national debt amounted to about US$11.7trillion. This figure rose at an average rate of US$3.8billion dollars per day. The American government spends US$452billion annually on debt interest payments.

At the end of 2008, the Centre for Policy Studies in the U.K. reported that the real national debt was actually £1,340billion – which was 103.5% of GDP. In April 2010, the United Kingdom’s public sector net debt was £890billion (or 62% of national GDP). The public sector shared a budget deficit of £9.3billion in April 2009 compared with a deficit of £7.6billion in April 2008. In August 2014, Public sector net debt (PSND ex) was £1,432.3billion, 77.4% of GDP. In 2012 and 2013 net borrowing was £115bn (7.4%, Excluding Royal mail and transfers). In 2013 and 2014 net borrowing was forecast at £105.5bn or 6.5% of GDP (excluding Royal Mail and transfers, Pettinger, 2014).

Anderlini (2014) wrote that China’s total debt-to-gross domestic product ratio in the world’s second-largest economy reached 251 percent at the end of June 2014 up from just 147 percent at the end of 2008. Trading Economics (n.d.) adds that China recorded a government debt equivalent to 50.50 percent of the country’s Gross Domestic Product in 2018. These and many other examples inform us that both rich and poor nations of the world are caught in the web of rising national debt. However, the debt burden of developed nations poses fewer challenges to development relative to that of developing nations, because the developed nations have comparatively high productivity growth rates.

The figures above probably make you question why there seems to be an endless cycle of rising national debts. The motivation behind this paper is to drum home the need for political parties in developing nations to synchronise effects of the seemly endless cycle of rising national debts and their overambitious campaign promises to the electorate so that they will not derail their nations’ development efforts. In this regard, the rest of this paper considers components of the national debt, why national debts are incurred, causes of the rising national debt, why rising national debts should cause feelings of nervousness, the hope rising national debt gives for national development (if any), and the way forward to ensuring effective debt management for national development.

Components and Reasons for National Debt

National debt is divided into domestic (internal) debt and foreign (external) debt. Domestic debt is owed by a nation to its own citizens and is safer than foreign debt because the government owes the debt in its own currencies to its own citizens. Foreign debt, on the other hand, is owed by a nation to foreign investors, foreign governments, foreign institutions (for example, the International Monetary Fund, World Bank and International Development Association, IDA) and other foreign private organisations. The official sources give loans which are attached with conditions that restrict affected nations in their use of the loans. A government’s indebtedness to both official sources and private sources must be based on critical consideration of the rules and regulations that govern the nation’s lending activities and the sources to which it owes its debt, so as to avoid legal implications which may hinder the country’s development objectives.

Government debt arises when government expenditure for a particular year exceeds revenue in that year (technically referred to as budget deficit) and decides to bridge the gap with borrowed funds from domestic and foreign sources. A budget spells out the revenue and expenditure strategies of a government in a particular year. It coordinates anticipated revenue and expenditure in an attempt to ensure efficient use of resources. It is a financial road map for a nation.

Government adds to the debt whenever it spends more than its tax revenue. Each budget surplus also decreases the debt, if it is used to defray the existing debt stock of the country. Acquah-Sam (2020) writes that governments, all over the world, act as an engine of inclusive sustainable economic growth and development; and that spearheads economic activities in their respective countries to improve the welfare of their citizenry.

Governments provide goods and services such as roads, defence, law and order (court systems and police), sports stadia, bridges, habours etc. These essential services are provided at a cost, and usually, a country discovers that it lacks the financial strength to meet its development aspirations – hence, it may decide to borrow from both domestic and foreign sources to augment its limited resources. Governments mobilise resources for development through tax revenues, profits from state enterprises, the sale of national assets, royalties, grants, loans from the private sector and foreign sector etc. What causes rising national debt?

Causes of Rising National Debt

Many reasons have been advanced to explain the causes of the rising national debt. Among the reasons for rising national debt are as follows:

Rising national debt may result from very high-interest rates which countries pay on the principal loans they have contracted. The credit-rating of a country determines the interest rates lending agencies are likely to charge it on loans it contracts. The lower the rating, the higher the interest rate to be paid on its borrowed funds, and vice versa. High-interest rates on loans contribute to the swelling-up of national debts.
Again, the rising national debt is a result of chronic debt burden which causes countries to make provisions in their annual budgets to pay for existing loans. This takes a reasonable percentage of the small tax revenues and export earnings in each fiscal year. They, therefore, resort to more borrowing to enable them to carry out their development agenda.
Another reason is that governments are transient, so the government that borrows is hardly the same one that repays; hence, a loan obligation may become a burden on a successor government that might not have derived any benefit from the previous government’s loans. This hinders the new government from pursuing its own policies and programmes. To avoid this trap, the new administration resorts to its own borrowing – causing a seemingly endless cycle of borrowing and rising debt.
Public borrowing is for national development. National borrowing is used to support profitable investments or projects that will yield revenue sufficient to cover the cost of the projects. In most developing nations, external borrowing is used to make up for the shortfalls in much-needed foreign exchange due to inadequate exports earnings. Low export earnings of developing nations result from low prices for their exports on the international markets.

Most commodities exported by low-income nations are primary in nature, and as a result, attract low prices. Again, developed nations give quotas and other forms of trade restrictions that limit the volume of exports from low-income countries, causing revenue shortfalls for development. However, the price of manufactures from developed nations are high. This contributes to a prolonged deterioration in the terms of trade, as explained by Raúl Prebisch (1950) and Hans Singer (1950); causing falling export revenue, falling standards of living, and lower output growth.

Inadequate savings due to low-income of workers in developing countries make it difficult to mobilise sufficient domestic capital needed for development. This means that countries have to resort to international capital to bridge the gap in capital accumulation and development. For example, the Encyclopedia Britannica (d.) reports that in the late 1940s Secretary of State, George C. Marshall, recommended special U.S. financing opportunities to European countries whose economies and societies had been devastated by the Second World War – so as to create stable conditions in which democratic institutions could thrive, and without which there could be no political stability and peace throughout the world. On April 3, 1948, President Truman signed the Economic Recovery Act of 1948 that became known as the Marshall Plan. Marshall is reported to have said in his speech at Harvard University that:

“The truth of the matter is that Europe’s requirements for the next three or four years of foreign food and other essential products – principally from America – are so much greater than her present ability to pay; so she must have substantial additional help or face economic, social and political deterioration of a very grave character.”

Countries such as the United Kingdom, Austria, Belgium, Denmark, France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Switzerland, Turkey and Eastern Germany participated in the Marshall plan and experienced a 15 to 25 percent rise in their gross national products during that period. The plan contributed greatly to the rapid renewal of the western European chemical, engineering and steel industries. Many developing nations also benefitted from similar supports from the U.S. government.

Rising national debts also result from the activities of overambitious politicians who in their quest for power promise everything that comes to mind to the electorates. In order to fulfil their campaign promises to electorates when they are voted to political offices, they move heaven and earth to secure all kinds of loans to finance their campaign promises – having realised that the nation has inadequate financial capital for development, causing the nation’s debt stock to rise endlessly.
Corruption, shoddy-work done by contractors, lack of supervision by appropriate state agencies, corrupt state officials, and rent-seekers contribute to the rising national debt. Corruption has contributed to shoddy-work done by contractors who are awarded state projects. Everything done by the government seems to be expensive. People who secure loans for the government are sometimes paid a percentage of the loan for their effort or as negotiation fees. Most of the projects after their execution are not able to withstand the vagaries of the weather and deteriorate before repayment of the loans that financed them takes place. It is not a surprise to see newly constructed railway lines and roads washed away by heavy downpours shortly after their construction. These projects are awarded again on contracts with new funds committed to their execution.

The engineers and state official employed to supervise them are sometimes bribed to certify the projects for payment, even though they may have been poorly-done by the contractors. Osei-Tutu, Badu, and Owusu-Manu (2009) reported that “Conflict of interest, bribery, embezzlement, kickbacks, tender manipulation and fraud are observed corruption practices in the Ghanaian infrastructure projects delivery system. The severity of corruption practices has intensified the search for more innovative means of delivering infrastructure projects that will achieve value for money”.

Natural disasters, wars, private-sector failures, and pandemics cause nations’ debt to rise. Earthquakes, fire outbreaks, floods etc. cause nations to lose assets; and in attempting to replace and provide reliefs for affected citizens, the government may resort to borrowing that adds to already existing debts. The coronavirus, COVID-19, pandemic has increased the debt burdens of all nations of the world, as attempts are made to revive ailing economies and treat and protect citizens from the disease. The IMF gave a US$1billion interest-free loan to Ghana in 2020 to fight the COVID-19 pandemic in the country. Also, the government of Ghana salvaged the funds of depositors of defunct private sector banks, microfinance companies, savings and loans companies, and investment houses between 2017 and 2019 with taxpayers’ money (Acquah-Sam, 2020). We now turn our attention to why rising national debt should cause feelings of nervousness.

Why Should Rising National Debt Cause Feelings of Nervousness?

The issue of the rising national debt has become a concern to many people because of its negative implications for economic growth and development of a nation. Many citizens and politicians over the years have used rising national debts as a sign of non-performance for an incumbent political administration. The negative effects of rising national debt which critics point to include the following:

Rising national debt may lead to high tax rates and an increased number of taxes as the government attempts to raise revenue to pay off the debt. The effect of increased tax rates is that it reduces productivity and people’s purchasing power due to a fall in their disposable (‘take-home pay’). Businesses also record lower profits due to high corporate taxes, and as a result limit business investments and expansion.
Rising national debt can also cause inflation since the government spends more than its revenue. Increased government spending increases the demand for goods and services, and without the corresponding increase in the supply of goods and services causes an increase in the general price level. Inflation has a further effect of reducing the volume of a country’s exports of goods and services because foreigners will see the country’s exports as relatively expensive. This will reduce export earnings and cause unfavourable terms of trade.
Furthermore, the rising national debt will lead to the crowding-out of the private sector (business sector) in the loanable funds market by the government. Governments sell Treasury bills, bonds, etc., to the general public to raise funds to pay for their debts and finance new investments. Generally, governments borrowing instruments are said to be risk-free, because no matter the government in place at any point in time, the debt must be paid to the creditors. This means that individuals prefer government instruments to private sector instruments, especially when the rates are higher than private-sector rates. This reduces the ability of businesses to raise funds from the credit market to finance their operations – this raises the unemployment rate in the private sector and causes a fall in the output of goods and services.
Another political consideration is that rising national debt at a glance will cause some sections of the population to think that the managers of the economy are mismanaging it and some few people are amassing wealth at the expense of the masses. The possible evils are public demonstrations and ‘coup de ta’. The leaders of military interventionists in developing nations always cite economic mismanagement as the main reason for their actions.
If the money borrowed is not spent on productive or profitable investments that will generate revenue to pay for its costs, but is spent on sitting allowances; fighting crime, civil conflicts and wars; drinking coffee and tea, and other personal unproductive interests, then the debt is really a burden and a hindrance to national development.
Rising national debt will eventually discourage domestic investors, foreign investors and foreign governments from investing in the domestic economy. They will not buy domestic securities and undertake direct investments, because of the fear of economic and political instability as well as unnecessary tax payments. To attract foreign investors to buy domestic financial instruments, governments must necessarily increase the interest rates – which negatively affects domestic borrowers and economic growth.
Some economists are of the view that rising national debt can contribute to an economic crisis if governments do not commit themselves to long-term fiscal management and sustainability of the debt. National debt-financing through printing money results in macroeconomic instability. In the study on macroeconomic effects of monetary financing of fiscal deficits in Ghana over the period 1983 to 2006 conducted by Ali, Assamoah-Cobbiah, Bashiru, Kwabiah, Opoku, & Opoku (2009), they found that monetary financing of fiscal deficit was one of the contributing factors to macroeconomic instability in Ghana. They revealed that a 10 percent increase in monetary financing of budget deficit could lead to a 1.41 percent increase in inflation, 2.1 percent depreciation in value of the cedi and a decline in economic growth by 0.073 percent.

These and many others cause nervousness among various players of national development. We examine the benefits of rising national debts.

Does Rising National Debt Give any Hope for National Development?

One seems to worry about our rising national debt when the figures are quoted, but the rising national debt has positive side-effects which give hope for national development upon a critical analysis of the components of the national debt, why it is incurred, and the causes of the rising national debt. The positive effects of rising national debt include the following:

One major positive effect of the rising national debt, other things being equal, is that it reflects the major infrastructure projects that are being carried out by the state. The building of schools, bridges, sports stadia, roads etc. involves costs which must be financed. These expensive projects create jobs for the citizenry. If the debt is spent on profitable investment projects, both current and future generations will benefit from the projects.

The former president of Ghana, John Agyekum Kufour, in answer to a question posed to him about the huge national debt incurred by the NPP government under his leadership, insisted that the expenditure was made to build infrastructure for the country and that the critics of his government should travel around the country and see for themselves the infrastructural developments which his government had embarked upon for Ghana.

Most of these projects started yielding benefits for Ghanaians many years ago. For example, the road tolls which users of vehicles pay to government contribute to the government’s revenue mobilisation. The roads also facilitate free movements of goods and human beings for national development and provide job opportunities for the people of Ghana. The sports stadia charge entrance fees to spectators who visit them to watch football matches played by both national and local teams.

The Bui Dam after its construction has contributed immensely to GDP growth through the electric power it generates for both industrial and domestic uses. After him, Presidents John Evans Atta-Mills, John Dramani Mahama and President Nana Addo Dankwa Akufo-Addo have also built the Tema Motorway Interchange, the Ridge Hospital, the University of Ghana Medical Centre, the Kwame Nkrumah Interchange, and Kasoa Interchange projects; and ensured the construction of School Blocks, Affordable Housing Projects, and factories which provide signs of a good future for the nation.

Another positive effect is that if the debts are raised through foreign currencies, such as the dollar or pound Sterling, it helps the domestic currency to remain strong against foreign currencies. This is possible due to the increased foreign reserves which will be built through the money received from the creditors. The simple demand and supply analysis that determines the price of a currency (exchange rate) is what is being referred to here. At this point we have enough supply of foreign currency, hence we will not need too many units of our domestic currency to exchange for a few of the foreign currencies. This reduces the cost of imports and increases consumer surplus and choices.
Rising national debt that results from external borrowing is useful because it supplements domestic savings and revenue and helps reduce the government’s tax burden on the people. Borrowing by the government allows the financing of projects with benefits that will accrue in the future, without an excessive reduction in the purchasing power of citizens in the current period.

For example, constructing public facilities such as roads, hospitals and schools can take years to complete; so if these facilities were to be financed immediately by taxation, individuals would be forced to forgo current consumption and saving opportunities equivalent to the entire capital cost of the facility, without any immediate benefits accruing to the nation until the project is fully completed and functioning.

The use of debt finance allows government authorities to tax citizens in the future, as the facility is being constructed, and after it is completed. This in effect spreads the cost over time and allows citizens to pay for the facility as it is being used, rather than at the initial point of construction. Klein (1994) wrote that “Foreign borrowing allows a country to invest and consume beyond the limits of current domestic production and, in effect, finance capital formation not only by mobilising domestic savings but also by tapping savings from capital surplus countries”.

The Way Forward

So far, it is clear that rising national debt can be compared to a double-edged sword (thus, it has both positive and negative effects), and both rich and poor nations of the world are caught in the web of rising national debt. As long as governments assume the role of an engine for inclusive sustainable economic growth and development, there is likely going to be an endless cycle of rising national debt. However, governments of developing nations must synchronise effects of the seemly endless cycle of rising national debt and their overambitious campaign promises to the electorate so that they will not derail their nations’ development efforts, because they have comparatively low productivity growth rates.

Governments must pursue debt management policies so as to meet central governments’ financing requirement at minimal borrowing costs. UNITAR (2004) reported that effective debt management requires regulatory frameworks applicable to debt management, institutional arrangements for debt management, and skills for an effective debt management operation such as legal skills. Developed nations of the world must open their markets to low-income countries and offer better prices for their exports so as to enable them raise sufficient export revenues to finance their activities and reduce their debts. There must be another occasion for debt-forgiveness by developed nations to poor nations of the world.

Governments in developing nations must develop infrastructure project delivery-trackers to ensure that monies used to finance projects do not go down the drain. There must be more public-private partnerships in infrastructure development to reduce the state’s burden in the provision of infrastructural projects. Governments should list some capital intensive projects in the rail transport and aviation sectors on major stock exchanges to raise private capital to augment its capital for infrastructure development. Peterson (1984) reported that in the early days of America’s development, railroads attracted a good deal of domestic and European private investment.

The writer is a Senior Lecturer at Wisconsin International University College, Ghana

Industrialisation pushing nation to go nuclear energy – Fred Oware

September 14, 2020

Photo: Fred Oware, Board Chairman of Nuclear Power Ghana (NPG)

The nation’s industrialisation agenda is the main pull-factor for the consideration of nuclear energy to be added to the energy mix, Board Chairman of Nuclear Power Ghana (NPG), Fred Oware has said – noting that even though there are many uses of nuclear energy, the country is considering the move as it assures “reliable, cheap, accessible and continuous power all year round”.

Speaking exclusively to the B&FT in an interview, Mr. Oware said the country has done a lot of analysis and realised that it would be expensive to continue with the current state of energy mix as the management cost of power supply keeps rising. For him, sustainable economic growth depends hugely on power, and the government is working to secure enough power to propel its future growth.

“Energy is central to development. If you are looking around the entire globe, there is no country that developed without energy; but it must be accessible, reliable and cheap, and it must be continuous. We need to understand that if we are going to develop as an industrial country, we need a cheap, reliable and continuous flow of energy,” Mr. Oware said.

Nuclear versus Renewables

He added that the nation has never and will never shy away from renewable energy, and as matter of fact a portion of renewables has been allocated to the country’s energy mix and efforts are ongoing to achieve that goal; but the industrialisation agenda, with the growing domestic energy needs of the country, requires power that is dependable and less costly.

“Some say renewables: it is good to have renewables, but renewables comprise energy that depends on nature. With solar, if the sun doesn’t shine you don’t have power. If there is dust in the wind and it compromises the quality of wind power, it can’t produce the energy you need. With hydro, if the season is dry and the water level goes down there is nothing you can do. To move away from renewable is to go thermal and use gas or some other forms of fuel which are also very expensive.

“If you are going to develop and you are increasing your baseload to 4,000 or 5,000 megawatts and you say you are going to rely on the sun or a river or expensive fuel, then you are not really ready for proper growth as it should be seen. The only alternative, and also taking environmental issues along, is nuclear,” Mr. Oware explained.

He added that with nuclear, once your fuel – uranium – is secured and the plant starts working, “you can be certain that for 12-18 months you have a constant, reliable supply of electricity. You will not need to switch it on and off as is done for hydro or other renewable energy sources as a means of stabilising the energy load to prevent fluctuations”.

GAEC’s views

The Director-General of the Ghana Atomic Energy Commission (GAEC), Prof. Benjamin J.B. Nyarko, believes this is the time that the nation should show itself as an energy powerhouse in the sub-region.

“Ghana should strive to maintain its position as the energy hub of West Africa. We have to do it to push our industrialisation agenda and also sell more power to our neighbours to generate good revenue. We are strategically positioned and we can take advantage of that,” Prof. Nyarko said.

For him, some major economic decisions have already been made, and those decisions will need enough energy to support them. “We are building our railway system and we are thinking of moving away from locomotive trains to electric-powered trains; we are having more electric cars produced globally, some of them are in Ghana; we need power for them.

“We have One District, One Factory (1D1F) and then there is the plan for our bauxite to go through Valco and Aluworks so that plates can be manufactured for the assembling of cars. It is clear that more power, at an affordable price and reliability, is needed to propel economic growth – and nuclear power gets us there,” Prof. Nyarko intimated.

According to a Centre for Policy Analysis (CEPA) and a Ministry of Finance and Economic Planning report, the power rationing exercise experienced in Ghana from 2007 to 2008 accounted for the drop in the manufacturing sector’s contribution to GDP from 9.5 percent in 2006 to 7.4 percent in 2008.

The data got worse during the 2015-2016 fiscal year, which also witnessed significant power rationing. Also, the Association of Ghana Industries’s (AGI) Afrobarometer reports have over the years cited cost and unreliable electricity supply as one of the major issues affecting the manufacturing sector.

Some energy experts have projected that total electricity use in Ghana will rise from 3,721.7GWh in 2008 to 65,239.6KWh by 2030 – with industry’s demand for power estimated to rise from 3,433.1KWh to 50,145.6KWh within the period. The high projected increase in energy demand requires a significant step-up in both private and public investments toward expanding the operational power generation capacity.

Young women urged to form the right perceptions about themselves

September 14, 2020

Photo: Mrs Comfort Ocran, Convener of the E-LEAD Conference

An International Consultant at Black Bridge Consulting Limited, Maame Awinador-Kanyirige has urged young women to form the right perceptions about themselves in order to build their confidence.

She said the way people think about the world and themselves is what shapes their confidence. She, therefore, urged young women to think about themselves as being capable to achieve any task at any given time.

Ms Awinador was speaking at maiden E-LEAD Conference in Accra. The conference is part of the COVID-19 Recovery and Resilience Programme (CoRe), which is an initiative of the Springboard Road Show Foundation, in partnership with the Mastercard Foundation and Solidaridad. The programme is aimed at supporting over 692,000 young people in the country. She was speaking on theme ‘confidence a key success factor for women in the world of work and business.

“Sometimes how we think about the world and our thoughts about ourselves shape who we are. It sounds simplistic and that is how people miss it because the greatest things in life are the small and simple things.

“Perception and how you see yourself is so important. You need to believe that you are unique and have what it takes to be able to make it wherever you find yourself,” she stated.

You cannot know everything

Ms Awinador also noted that forming the right perception helps in learning and discovering new things.

“When you begin to think about yourself in a positive way, even when you walk into the room or you are in a space and you don’t know something, you not ashamed of not knowing but rather an opportunity for you to discover.

“You cannot know everything and discovery starts from not knowing so not knowing is great. The problem starts when you think you know. When we form the wrong perception, our reaction becomes wrong and so if you doing business or going into any field of work, you need to see yourself as having everything it takes to succeed,” she explained.

“It doesn’t matter who you are, there are going to be new things that will confront you but you have to talk yourself into believing that you are good enough,” she added.

Blasting the Class Ceiling

Oheneyere Gifty Anti, CEO of GDA Concepts Limited, Afia Pokua, Programmes Director of the Despite Group, and Comfort Ocran, Conference Host and Lead for the CoRe Programme took turns to share their thoughts on various aspects of the conference theme, ‘Blasting the Glass Ceiling.’

Making her submission from South Africa, Ms. Yolanda Cuba, Chief Digital and Fintech Officer of the MTN Group urged women to always negotiate life’s choices with a keen sense of awareness of who they are and where they are going in life.

“COVID-19 and all the restrictions that come with it can be very frightening, scary and intimidating. But you can look at how others are responding and let that be a guide in designing your own solutions.

“With innovation, technology and a focus on the new normal, you can take advantage of new opportunities and go on to do greater heights in the midst of this pandemic than you ever did before,” he stated.

IHRMP attains charter status

September 14, 2020

The president of the Institute of Human Resources Management Practitioners (IHRMP) Ghana, Dr. Edward Kwapong, has on behalf of the Institute expressed gratitude to President Nana Addo Dankwah Akufo-Addo for assenting to the bill passed by Parliament that has given charter status to Human Resources Management Practitioners.

Reacting to the positive development, Dr. Kwapong explained: “The Institute of Human Resource Management Practitioners, Ghana (IHRMP) – which existed under the Professional Bodies Registration Act, 1973 (NRCD 143) – has now been established by an Act of Parliament, the Chartered Institute of Human Resource Management Act, 2020 (Act 1020), and is known as The Chartered Institute of Human Resource Management, Ghana”.

The Chartered Institute of Human Resource Management, Ghana bill was assented to by President Nana Addo Dankwah Akufo-Addo on August 13, 2020.

The Chartered Institute of Human Resource Management, Ghana, as stated in Section 2 of the Chartered Institute of Human Resource Management, Act 2020 (Act 1020), is mandated to promote professional training in human resource management and regulate practice of the human resource management profession in Ghana.

The new Act 1020 provides functions of the Institute as follows:

Promote the training and advancement of human resource management;
Undertake and promote research in the discipline of human resource management;
Promote public-private partnerships in respect of human resource management activities;
Conduct professional examinations for the registration of human resource management practitioners;
Certify individuals who attain the requisite qualifications to practice human resource management; and
Perform any other functions that are ancillary to the object of the Institute among others.

Additionally, as custodian of the Code of Conduct in the practice of human resource management, the Act re-emphasises the Chartered Institute of Human Resource Management, Ghana’s mandated monitoring role by ensuring members display the highest standards of professionalism and commitment to ethical conduct and utmost due care in all dealings.

The need for ethical behaviour and professionalism in the practice of human resource management is due to the critical role human resource management plays in the country’s economic and human capital development.

The Executive Director of IHRMP, Mr. Ebenezer Agbettor, revealed that Section 22 of the Act restricts use of the title ‘Chartered Human Resource Management Practitioner’ to a person who has successfully met all requirement of the professional human resource management examinations and holds the CHRMP, Ghana certificate recognised by the Chartered Institute of Human Resource Management, Ghana.

In essence, the Chartered Institute of Human Resource Management, Ghana, Act 2020 (Act 1020), creates a great opportunity for the Institute to enhance its collaboration with key stakeholders to further boost confidence in the human resource management profession, through professionalism and the assurance of a safe and sound human resource management environment.

It is therefore expected that corporate Ghana will continue to witness great transformation in the professional conduct of HRM practitioners, which will result in the improvement of corporate governance issues and ethical behaviour.

BECE starts today…candidates express preparedness

September 14, 2020

The Basic Education Certificate Examination (BECE) for the 2020 academic year begin today at various examination centres across the country, and candidates have expressed preparedness to give their best despite the lack of adequate classroom work due to the COVID-19 pandemic.

The BECE, which is usually written in the month of June each year, had to be delayed some four months due to the outbreak of the novel Coronavirus pandemic.

A candidate of Salem One JHS, Charity Lamley Lamptey, in an interview with the B&FT, indicated that the close-down of schools and extension in time-table from June to September was a blessing rather than a curse, as they used the period staying at home to review their notes and learn the topics they were not able to comprehend.

“I think I am very ready and so are my colleagues, because we used the lockdown period to review our notes avidly; and on return to school, our teachers also did their best by teaching us the examinable topics and guiding us on how to answer questions properly to get full marks. So, I am confident going into the exams,” she said.

Several other candidates also expressed similar feelings about their readiness to deliver excellent performances in the 2020 BECE.

The Science and ICT Teacher for Salem One JHS, Michael Enchills, narrated that teachers have done their best in preparing the candidates for exams before, after and even during the COVID-19 lockdown.

“When school resumed after the lockdown, we noticed that some of the students took good advantage of the period; but we also realised the challenge with those students who stay in homes without television to follow the online lessons, as well as those whose parents were not helping with their education. So we did peer-to-peer groupings to enable them to get the needed help from their colleagues.

“We cannot get a 100 percentage performance from all of them, but we are hopeful the majority will come out with flying colors,” he emphasised.

Per the schedule/time-table for the exams, two papers will be written each day from Monday 14^th to Friday 18^th September 2020. Candidates will write English Language and Religious & Moral Education (RME) today, and continue with Integrated Science, and Basic Design & Technology (BDT) on Tuesday.

On Wednesday, candidates sit for the Information & Communication Technology (ICT) and French papers respectively. This will be followed by Mathematics and Ghanaian Language & Culture on Thursday, and finally, conclude with Social Studies on Friday.

Over the years, BECE has been the means of selecting qualified students from the basic level of education to Senior High Schools (SHS) level in the country, and this year will be no different.

Banks increase loans to manufacturing sector

September 14, 2020

WhatsApp-Image-2020-04-12-at-14.21.21 — Photo: Trade Minister, Alan Kyerematen inspecting a nose mask manufacturing company. Credit: Myjoyonline

Banks have stepped up their game to help quick recovery of the economy from the ruins of coronavirus pandemic, as new data show increased credit support to one of the most pressing areas of the economy – the manufacturing sector.

The Statistical Bulletin report (June 2020) indicates that credit to the sector has increased following a decline in March – the very month that coronavirus pandemic was first recorded in the country – probably as a precautionary measure on both the supply side (banks) and the demand side (manufacturing firms).

This comes as a positive development for a sector that has seen inconsistent growth over the past few years, due to challenges such as financial constraints and the high cost of doing business. After hitting an impressive 9.5 percent in 2017, the sector’s growth has declined to 6.3 percent in 2019.

Commenting on this, an economist at the University of Ghana, Prof. Eric Osei-Assibey, said the economy will see hastened growth if banks continue to satisfy the manufacturing sector’s financial needs.

“The manufacturing sector is often a labour-intensive sector, and therefore if you want inclusive economic growth it has to be driven by the manufacturing sector or the agriculture sector. So, if the manufacturing sector is getting access to finance that will help it to invest, expand and employ more people, then, of course, it is very good for the economy – and that could spur growth.

“Now that the electricity challenges and others are things of the past, one of the key constraints of manufacturing sector is access to credit. And so if that constraint is being addressed, then we expect the sector’s performance to improve in the years ahead – particularly as it is coming in the midst of the pandemic when there is so much uncertainty and banks are actually quite apprehensive about risk. This could even lead to government exceeding its target for the year in terms of economic growth,” he told the B&FT in an interview.

Despite increased access to credit for the sector, one major factor that has gained concern among the business community is the affordability of such loans. The average lending rate of commercial banks, though it has declined marginally, still remains high for businesses. As of June 2019, the average lending rate was 21.95 percent. This is a slight improvement from the 23 percent it stood at for about a year and a half, beginning December 2018.

For Prof. Osei-Assibey, it is necessary and vital for the rate to come down for businesses to expand and employ more; but, he adds, it may take some time as banks are still cautious about systemic risk brought on by the pandemic.

“The lending rates are better now, but still remain high even in the sub-region. So, it will definitely benefit the manufacturing sector if it comes down. But there are still systemic risks and banks are concerned, and so we shouldn’t expect a drastic fall of the rate any time soon,” he said.

Prez cuts sod for Bono Region solid-waste plant

September 14, 2020

PHOTO-2020-09-11-11-49-49_1 — Photo: President Akufo-Addo in a symbolic sod-cutting ceremony for the commencement of work on the facility

The sod has been cut for work to begin on a solid-waste treatment facility for the people of Bono Region.

The project – a collaboration between the Ministry of Sanitation and Water Resources (MSWR), Zoomlion Ghana Limited (ZGL) and its private-sector partners – is aimed at improving sanitation in the region.

Upon completion, the plant will receive municipal solid waste from Sunyani and its environs to be processed into re-useable materials, such as compost for agricultural use.

The 400-tonne per day solid-waste processing facility will also provide jobs, improve waste collection, and ultimately make Sunyani a clean city.

President Nana Addo Dankwa Akufo-Addo, who on a tour in the region, performed the sod-cutting ceremony at Wawasua on Friday, September 11, 2020, in the Sunyani East constituency of the Bono Region.

It was the second time President Akufo-Addo has cut the sod for such a facility, and it formed part of his government’s vision to tackle sanitation in the country with a sense of urgency.

The plant at Wawasua will include facilities such as a power distribution unit, compost workshop, e-waste sorting workshop, office building, dressing-room, and a restaurant.

The rest are a weighing bridge, washing bay, clinic, laboratory and plastic-waste recycling plant.

The Minister of Sanitation and Water Resources, Madam Cecilia Abena Dapaah, disclosed that currently, Ghana produces over 20,000 tonnes of waste, adding that the construction of waste-treatment facilities across the country’s 16 regions will help “reduce the amount that remains in our communities”.

She was upbeat that Ghana is on course to achieving the Sustainable Development Goal (SDG) on Sanitation.

According to her, the government is ready to support private institutions whose visions meet its own for promoting sanitation and reducing the amount of filth in communities across the country.

She added that her ministry’s partnership with Zoomlion will help the country attain the president’s vision of making Ghana clean.

“We all know that cleanliness improves sanitation, and what we are witnessing today [commissioning a solid-waste treatment plant in the Bono Region] is a great example of government’s partnership with the private sector to develop the country,” she said.

She advised Ghanaians to always be mindful of their environs, and not resort to practices that create filth with its attendant issues.

For her part, the Bono Regional Minister, Mrs. Evelyn Ama Richardson, was grateful to the government for including her region in the package of waste treatment facilities in the country.

She called on the people of Bono Region to rally behind the president’s vision of making Ghana a prosperous country.

“I encourage you all to vote massively for President Akufo-Addo and the NPP on December 7, to enable us to do more for the good people of this country,” she said.

The Executive Chairman of Jospong Group of Companies (JGC), Dr. Joseph Siaw-Agyepong, expressed gratitude to President Akufo-Addo for offering his group and their partners the opportunity to be part of his vision for promoting sanitation and development in Ghana.

The Sunyani Dwantoa Hemaa, Nana Aboah Bohemah who was elated about the project, said the waste plant will further help maintain cleanliness in Sunyani – adding that it will also create employment for the youth.

Construction of the solid waste facility, she added, will reduce the burden on the old dumping site.

She advised citizens in Sunyani to learn how to manage their waste instead of resorting to the practice of dumping refuse indiscriminately.

“When we manage our solid waste well, we will all be helping to prevent the outbreak of diseases,” she advised.

Also at the event was the Krontihene of Sunyani, Oboaman Bofotia Boamponsem, who represented the Paramount Chief of Sunyani.

According to him, the paramount chief of Sunyani was solidly behind the initiative – hence the urgency with which he made land available for the project.

He charged citizens in the Bono Region to always ensure that their environs are clean.

He used the occasion to appeal for President Akufo-Addo to ensure completion of the plant.

“We don’t want this project to be a white-elephant, but rather a dark one like the emblem of the NPP party,” he noted.

Oboaman Bofotia Boamponsem also advised the youth in Sunyani metropolis to take education seriously.

This, he said, will prepare them for jobs that will be created in Sunyani – also calling on them to contribute their quotas toward developing the region.

The Millennial’s Corner with Miss Amofa: Increasing your visibility: a tool for career advancement

September 13, 2020

Recently, a promotion opportunity came up in Kabuki’s office. She was excited! This was definitely going to be a big break for her. The job matched her skills and experiences perfectly. It was a no-brainer she was going to get the job. She had fantasized about sitting in that office in the corner for a long time. So, she was shocked when she didn’t get it—more shocked when she found out that Thelma got the top job.

Kabuki was furious. Why would she lose the job to someone who was less qualified and inexperienced? She queried her boss. Surprisingly, she was told that the panel didn’t know her, so convincing them of her capabilities was difficult. How could this be the case when she had devoted six years of her life to this company?

Unlike Kabuki, Thelma had built strong connections from the onset, contributed to several projects, been involved in stakeholder engagements, and represented the company at various gatherings and events. Thelma had built a track record, so the panel knew what she was capable of and what to expect from her when given the job.

This is the sad reality for most employees. People who put themselves out there get noticed, while those who keep their heads down miss out on opportunities—despite their hard work. Kabuki worked hard and contributed greatly to various tasks and projects. However, she gained little recognition for her inputs, because she didn’t want to take credit for her work.

Visibility has become vital in career, business, social platforms, networking, among others. Annually, businesses

invest greatly in efforts, such as advertising, branding, and digital marketing, in a singular bid to remain visible.

In today’s world, being good at your job isn’t the only way to achieve career growth. You need to network with key people to help you get ahead in your career. You may miss out on opportunities despite your hard work, if you fail to build relationships with the people who matter. Most of us feel uncomfortable taking credit for our work or promoting ourselves. We prefer to stay “low key’’ or assume a more passive position at the workplace.

So how can you increase your visibility at work? How can you highlight your contributions and show what you bring to the table without showing off? Let’s take a look at some strategies you can employ to remain visible.

Speak at meetings

Speaking up in meetings is one of the effective ways to increase your visibility. Sharing your ideas and opinions during staff or strategy meetings can be a perfect way to demonstrate your knowledge, skills, and experience. It also helps you build confidence, which is a key attribute for leadership in the workplace.

Strengthen key relations

Building a great rapport with your boss will not only help you discuss business objectives but also explore ways you can add more value to the team and other future prospects.

Participate actively in projects

Active participation in projects is a great way to show that you are an effective team player. Working with people in other teams or departments will help you build your people skills, build good relationships with other colleagues, and get you noticed.

Taking on assignments and projects out of your scope of work helps you to make great use of your knowledge and skills, while giving you the opportunity to learn and challenge yourself. If you possess an ownership mentality of your role, as well as other tasks, it goes a long way to contribute to the overall performance of the business. Ultimately, it shows your leadership qualities and helps you gain more exposure.

Take up volunteering opportunities

Volunteer to attend meetings, events, and other social gatherings. Taking up such opportunities will keep you involved in decision-making processes. Such avenues provide rare opportunities for you to pitch ideas and represent the interests and concerns of your team or business.

Participate in Learning Opportunities

Do not pass opportunities to participate in training programs. A good attitude towards learning puts you across as one that is willing to upskill for the good of your company. Learning opportunities do not only come in the form of training programs but also in casual discussions with more experienced colleagues and bosses at the workplace. Such interactions and contributions make you more visible to the people who matter at the workplace.

Demonstrate your expertise

Showing a demonstrated history of expertise or skill in a particular area can increase your visibility. If you are known to be a solution-oriented person in your organization, people will bounce off their ideas and seek assistance in resolving issues.

For instance, if you are known to be the go-to person in a particular area, chances are you will be recommended to work on various projects and have access to other interesting opportunities. To build your expertise, you can decide to develop a niche or be an all-round person. Whichever way you choose, keep learning and improving on your expertise.

For example, you can offer to train your colleagues on your expertise as part of your firm’s training calendar. Speak to the person in charge of learning and development in your organisation for a slot to train on certain relevant skills. You can also hold light-box sessions during departmental meetings to share your knowledge.

Join or start a career development platform

These days, most millennials participate in communities and career support platforms in order to share knowledge, learn from others, and gain access to opportunities. A knowledge-sharing platform is one of the ways to build a community of people who share the same, similar, or different career interests and seek to achieve certain objectives. Starting such an initiative at your workplace or even within your network can demonstrate your leadership abilities and prepare you for other career opportunities that may come up.

Invest in Relationships

Gaining visibility means you have to invest in relationships beyond your immediate network. Networking must not only be with leadership but also with everyone at your workplace. A mere testimony about your work ethic and abilities by a colleague may attract the interest of your bosses to look in your direction when opportunities arise.

Growing your network means that you have to be intentional in reaching the people you want to foster relations with. You can build your network and connections through formal or informal ways. Taking part in team-bonding sessions and after-hour events is a great opportunity to connect and engage with people.

Find a Mentor

Like I mentioned in a previous article, mentors are like coaches. They offer invaluable or expert advice on how you can get noticed. While a mentor may be different from a sponsor, he or she can also serve in the capacity of a sponsor and connect you to career or business opportunities within or outside your organization.

10. Acknowledge team accomplishments

Getting credit for your work is great. Nonetheless, acknowledging the contributions of others is equally important. Teamwork makes the dream work. Remember it takes a village to achieve a particular feat. Don’t take all the credit for something you didn’t do alone. Being able to highlight the efforts of others underscores the spirit of teamwork.

In your quest to become visible in your workplace, be careful not to engage in dubious means to attract attention. It is important to build from the ground up. Give a thought to the aforementioned strategies and work diligently, and observe how you get recommended for career advancement opportunities as time goes on.

>>>Nana Akua Frimpomaa Amofa is a Writer and Creative Lead of Scripted Impressions, a creative consulting agency that helps individuals and brands tell their stories. She works as Senior Editor at El-Evangel Publications. Her work involves content development, strategy and review of publications. She’s also part of the review team of My Story Magazine, an entrepreneurial resource magazine. Connect with Nana Akua via Instagram/Twitter: @missamofa, LinkedIn: Nana Akua Frimpomaa Amofa, Email: [email protected]

Chirano Gold Mine supports BECE candidates with ‘Maths-sets’

September 13, 2020

IMG-20200914-WA0009 — Photo: Officials of CGML handing over the mathematical sets to the beneficiary schools

The Chirano Gold Mine Limited (CGML), a subsidiary of Kinross Gold Corporation, has presented seven thousand mathematical sets to candidates sitting for the Basic Education Certificate Examination (BECE) in their catchment areas.

The gesture, which among others affirms the Mine’s commitment to improving on the quality of education of communities in the catchment area, was offered to candidates in the Bibiani Anhwiaso Bekwai and Sefwi Wiawso Municipalities.

The Head of Human Resources, Ghana Education Service (GES) at Sefwi Wiawso, Mercy Danso Amoah, said Chirano Mines has demonstrated that it is ready to help develop education in the district.

She acknowledged the construction of nine schools, five ICT centers, teachers’ bungalow and science laboratories, all done by Chirano Mines over the period.

Mrs. Danso Amoah made these remarks when officials of Chirano Gold Mines donated mathematical sets to all BECE candidates in the two Municipalities.

The local education officials indicated that Chirano has exhibited exceptional support in the form of infrastructure provision, free tuition, provision of stationery among others, to encourage teaching and learning in the localities.

The Human Resource and Community Relations Manager of Chirano Gold Mines, Thomas Nyarko-Danquah, at the presentation of the items, said the Mine prioritizes investment in education.

He said it is their firm belief one of the tools to enhance the socio-economic wellbeing of residents in the catchment areas is the provision of quality education.

He is hopeful that the provision the mathematical sets and other support provided to the candidates throughout their 3-year JHS education will inspire and motivate them to be successful in the impending exams.

A teacher at Etwebo JHS Daniel Mensah, one of the beneficiary schools, said the provision of the mathematical sets has lifted a burden off many parents who are unable to afford stationery for their wards.

He noted that some of these students come from very poor homes, and there have been times where the teachers have had to buy mathematical sets for the students to be able to write BECE.

Earlier in the week, Chirano Gold Mines organized a mentorship session for the BECE

Photo: An official of CGML speaking to BECE candidates during the mentorship session

candidates. About 400 candidates from the immediate catchment area and divided into groups and mentored by employees who hail from their communities.

The Deputy Director in Charge of Monitoring and Evaluation, GES at Bibiani-Anhwiaso-Bekwai, Mr. Obeng Nyamekye, said the program was a major boost to the morale of the candidates.

He said speaking to successful people in the Mine, who had humble beginnings from their own communities, taught them that no matter how little they have started, they can succeed by taking their education seriously to progress in life.

Poetry Corner with Kwesi Bissue: Till dusty times do us part

September 13, 2020

roadghana-news — Photo: Dusty road. Credit: Graphic Online

Men would come to the city gate
Open the gate and gape
…and gauge the raging rain
Men would shut the gate
…and enter their interior rooms to intercede
Men would wake up in the morning
…and begin mourning over their loss

Oh floods just flooded our homes
…and made us homeless
Floods flooded our roads and pathways
…and made them pot-ways and belly-ways
Holes transmogrified from potholes
…into bellies of whales overnight
…into roads of many miniature dams

Madmo would come to the city gate
To split open the gate… slide the sliding door to the side
And gauge the raging rain
Oh flooding needs funding from fund master

In the meantime
…commiseration would be the new consolation
To compensate for delayed action
To compensate for lives missing in action
Oh Madmo was caught off guard
By the cloudless rain in June
By their clueless reading of the moon

Mud would slide from the hillside and coincide with passing traffic
Oh mud muddling and meddling in the free flow
Mud diverting the diversion on a divided mountain road
Oh how interesting
…mountaineering engineering interfering with steering

Madmo cries out loud!!!
Oh we are only man-made
Made to combat God-made damage
We can only manage the damage

A bridge over troubled water
Will give way to travelling water
Travelling water will mess up
…the merchandise of the merchant
Travelling water will take away
…lives long lived
…lives young lived

Madmo bemoans!!!
Our stitch in time saved none
So we rested on our oars
As we counted the hours… of doom

Men would come to the city gate
Open the gate and spy at a spilling dam
…from a spillway
…from Bargary to Volta
…from Densu to Weija
From a dam into a farm
Oh spilling spilled into our land spoiled our toil

Men would come to the city gate
And propagate to irrigate
Before it would be too late
Alas
The Bargary would not wait to be baited
The Volta voluminously remained volatile
The Weija would not want to be tamed late
The Densu would always be dense with nsu

Men would come to the city gate
Open the gate and gape
…at the receding troubling rain
…at the declining heavy outpour
…smile at the incoming ubiquitous sunshine

Men would rise to the vulture occasion
And wait till another rainy day
To build a lasting house
Here are sunny days…hurray!!!
Here are dusty ways…hurray!!!

Men would sing a sigh of relief
…till another rainy day

Madmo would hang their boots
Wouldn’t give a hoot
Till the next…

Dail-a-Counselor with Sybil Shaibu: Do hurt people hurt?

September 13, 2020

Flickr-Woman-Crying — Photo: A woman crying. Credit: Charisma News

Hurt people hurt! The first time I came across this statement I had to go back to read it again. So if you’re like me you’d probably have to go back and read it again. We have each been hurt before, be it by something, someone, action or inaction, spoken words, emotions or feelings. And be it big or small, significant or insignificant hurt is hurt period!

“Hurt people hurt people” is an old adage and a clever phrase but also a sad truth.

I find that some people tend to undermine certain degrees of hurt, simply because the hurt is defined by the size or magnitude of the causative agent. So if someone refuses to acknowledge the good done them by another and as a result end up feeling hurt, that would be deemed as a qualified hurt (that’s if anything like that even exists, to begin with). Whereas on the other hand if someone should chuckle at you and you get hurt by that….it’s likely that people would classify your hurt as not being significant.

What does the word hurt mean? To be hurt means to feel pain in a part of your body, or to injure someone or cause them pain. Emotional hurt is usually feelings such as unhappiness or sadness caused by someone’s words or actions. Other words for hurt includes distress, pain, suffering, grief, misery, anguish, being upset etc.

It’s however interesting to note that sometimes though the hurt might be emotional it manifests in the physical, someone who experiences a heartbreak can suffer a headache or stomach upset and even in some profuse sweating and palpitations.

People handle hurt differently as such it’s best not to compare one person with another. Hurt people hurt others because they themselves have been hurt due to the severe damages caused by the hurt. And that damage causes people to become defensive and self-protective and may end up lashing out at others. Hurting becomes a vicious cycle that never seems to end, simply because hurt people hurt.

In other to help hurting people we first need to understand why hurt people hurt. Here are some things worth taking note of;-

Hurt people often transfer their inner anger onto their family and close friends.
Hurt people interpret every word spoken to them through the prism of their pain.
Hurt people interpret every action through the prism of their pain.
Hurt people often portray themselves as victims and carry a “victim mentality”.
Hurt people often alienate others and wonder why no one is there for them.
Hurt people are often frustrated and depressed because they allow past pain to continually spill over into their present consciousness.
Hurt people are often self-absorbed with their own pain and are unaware that they are hurting other people.
Hurt people often attempt to medicate themselves with excessive drugs, entertainment, alcohol, pornography, sex and sexual relationships, hobbies and sometimes even using people just as a way to forget their pain and run from reality.
Hurt people often erupt with inappropriate emotions because particular words, actions, or circumstances “touch” and “trigger” past woundedness.
Hurt people often don’t love themselves enough so they look for love and approval from others.

Hurt people hurt people, however, they hurt themselves more. Their reactions stem from past experiences that led them to certain beliefs that they accepted as truth. They are actually just preconceived ideas projected onto others to protect their ego so we don’t need to feel hurt in the process as they take themselves down.

We can always offer love to them-either in close proximity or from further away.

A word of caution; no matter how much a person is hurting, they deserve to be loved in a way that makes them feel good. Unless you have hurt the person in some way, know that they are acting from a place of pain and are only yearning to be loved. It’s really not about US at all. It’s about THEM and what’s inside them coming out and projecting onto us.

Remember that hurt people hurt people and it is not about you, so don’t take it personal.

The society and you – Chris Koney: What Chadwick Boseman taught us about Black History

September 13, 2020

It felt as if the world stopped spinning when Chadwick Boseman died. I had just spent my Friday evening watching Spike Lee’s Da 5 Bloods, in which Boseman plays Stormin’ Norman, the courageous leader of a team of Black soldiers in the 1st Infantry Division who was killed during the Vietnam War, when I heard the news.

My friend, with whom I had discussed the film earlier that day, called and told me she didn’t know Boseman had really died. I tried to correct her, telling her it was only in the film, until she told me I was mistaken and that he had really died at age 43 from colorectal cancer. It felt like I had been punched in the gut. From the looks of my timeline, I wasn’t alone.

For 20 minutes, the only image I saw as I scrolled was a black-and-white photo of Boseman flashing his infectious smile as people began reacting to the news. Everyone was experiencing the same level of shock. For months, we’ve been fighting against COVID-19 and systemic racism and less than a week after Jacob Blake was shot in his back seven times by police in Kenosha, Wisconsin, leaving him paralysed from the waist down, it felt like we didn’t have much else to lose. That, plus the heroes we’ve already had to bury this year, meant Boseman’s death felt personal for us all.

Boseman was so much more than an actor. He gave Black stories, both real and fictional, the dignity and wholeness that they deserve but too often don’t receive in Hollywood. His dedication to telling the stories of Black American icons was consistent — so much so that the running joke was that if filmmakers were making a biopic of a Black person, Boseman already had the role.

But his portrayals of Jackie Robinson in 42, James Brown in Get On Up and Thurgood Marshall in Marshall show just how much reverence the Anderson, South Carolina, native had for the icons he played.

That’s because to Boseman our history was one of regality. He believed that and he carried himself in a similar manner. It made him the perfect choice to play King T’Challa in Black Panther, making history as the first Black actor to star in a major comic book movie, which broke records, barriers and limitations for so many.

While accepting the award for Outstanding Performance by a Cast in a Motion Picture at the 2019 Screen Actors Guild Awards for Black Panther, Boseman spoke about the burden of being “young, gifted and Black.”

“We know what it’s like to be told to say there’s not a screen for you to be featured on, a stage for you to be featured on,” he said. “We know what it’s like to be a tail and not the head. We know what it’s like to be beneath and not above. And that is what we went to work with every day. Because we knew — not that we would be around during awards season and that it would make a billion dollars — but we knew that we had something special that we wanted to give the world; that we could be full human beings in the roles that we were playing; that we could create a world that exemplified a world that we wanted to see.”

Boseman was well aware of the doors his role would open for others to help build a Hollywood reflective of the diverse world we live in today. He knew the power of depicting the continent of Africa as gloriously as possible, even through fictional Wakanda. He knew the imaginations he would help expand as he gave little Black kids a superhero who looked like them whom they could look up to.

The news of his death was shockingly painful, but myself and so many others found comfort in the communal digital mourning that unfolded in our socially distant present.

Videos of Boseman’s commencement speech on the importance of finding purpose over a job at our shared alma mater, Howard University, made my heart warm. Boseman’s Black Jeopardy skit condemning Karen’s raisin-tainted potato salad made me laugh. And even the general sentiment of people understanding the importance of kindness on social media apps that often breed the opposite made me hopeful, even if only for a day.

Parents also posted photos and videos of their children commemorating their hero with their own homegoing services. Thousands signed a petition calling for a statue of Boseman to replace a Confederate memorial in his hometown. Boseman stood on the shoulders of giants and he didn’t miss a beat to place others on his shoulders until the very end. While privately fighting his own battle, he spent time supporting and inspiring kids with cancer.

At the 2018 MTV Movie and TV Awards, he gave his award to James Shaw Jr., who disarmed a gunman and saved lives at a Waffle House in Antioch, Tennessee. If that wasn’t enough, there were the scores of memories and testimonies to his greatness from the likes of Denzel Washington, Phylicia Rashad, Angela Bassett, Ryan Coogler, Michael B. Jordan, Danai Gurira, Democratic vice presidential nominee Kamala Harris, author Ta-Nehisi Coates and so many others.

He wore a heavy crown that required so much of him, yet he never bowed his head or disappointed. He always delivered. Boseman lived up to the gold standard of a king while working to make sure that Black people recognise that we are regal; he made sure we know we wear crowns, too. And that’s what it felt like watching 42, Black Panther and anything else in which he graced our screens.

Boseman’s life was undoubtedly short, but he made the most of it and lived courageously in his purpose. As we collectively grieve, I think about all that we’ve gained because of his commitment to making sure that we’re seen, heard and humanised. I think about a now ancestor that paved the way for starry-eyed Black kids who stared at the big screen in Black Panther costumes. And I think about the history he put on a pedestal while paving a way for those to come.

Boseman was, is and will always be Black history.

By Taryn Finley, HuffPost US

Tarkwa SHS qualifies for next round of NMSQ

September 12, 2020

IMG-20200911-WA0008 — Photo: Tarkwa SHS NSMQ contestants receiving their Prudential Life Insurance prize

It was just euphoric when the final bell rang for the end of the preliminary contest of the biggest academic competition in the country, the National Maths and Science Quiz (NSMQ), in the Western Zone.

Contestants representing the Tarkwa Senior High School stood ‘shoulder-higher,’ after recording a final score of 32 points, to beat their counterparts from St. Mary’s Boys’ Senior High School and Bia Senior High Technical School.

At the end of the contest, the Tarkwa SHS contestants, Prince Arhin and Rutherford Afful (who was substituted by Isaac Yankholmes) also became the first contestants to win the Prudential Life Insurance ‘Problem of the Day’ prize, worth GHC2,000.

This is also the first time Tarkwa SHS has contested in the NSMQ since its introduction.

With the win, Tarkwa SHS NSMQ team will be representing the Western Region, at the one-eighth stage of the National Science and Maths Quiz in Accra.

A representative of the Tarkwa Past Students Association (TARPSA) speaking in an interview after the contest said they will do everything they could to support the NSMQ team and the School with materials and infrastructure needed to enhance teaching and learning.

Enoch Nyarkoh thoughts…NPP 2020 Manifesto: How Akufo-Addo intends to address the housing deficit in his second term

September 11, 2020

One of the longstanding socio-economic challenges of Ghana is the availability of affordable and decent housing for all citizens. The Centre for Affordable Housing Finance in Africa estimates in the 2019 Housing Finance Yearbook that Ghana has a housing deficit of more than 1.7 million housing units. This is not far- removed from the projection of State Housing Company CEO Kwabena Ampofo Appiah that for every Ghanaian to own a house, the government will have to build two million houses.

This challenge is compounded by other factors such as land litigation, high cost of construction and demand for rent on medium to long term basis which places financial constraints on many tenants. The myriad of challenges have prompted the New Patriotic Party under the leadership of President Akufo-Addo to propose certain measures in their manifesto for the 2020 elections. The objective of these measures is to address the barriers to housing acquisition or rental in the country.

One key measure is the National Rental Assistance Scheme (NRAS). The immediate goal of this scheme is to address the short to medium market failures in the renter segment of the housing market. Through this scheme, the government will pay rent advance for individuals with verifiable sources of income directly to bank accounts of landlords. Individuals will then pay back the money to the government on monthly basis.

It is expected that this intervention will take the rent advance load off the shoulders of many Ghanaians. It will also ensure a predictable rental income for landlords. Additionally, the government will be able to track rental incomes and apply the appropriate taxes. Over the years, the government has not been able to keep track of landlord-tenant transactions and thus lost out on tax revenues that could accrue to the state. This new scheme will have a 360 effect for landlords, tenants and the state, contributing to the progress of the country.

Further, the NPP recognizes in their manifesto that Ghana’s housing deficit is “particularly acute for low-income households.” The Party commits to building low-income houses over the next four years. They intend to make use of local materials and collaborating with the Building and Roads Research Institute (BBRI) as well as private developers. Land banks are already in place and the houses built are to be made available for rent, rent-to-own or outright purchase.

To drive the housing delivery agenda, the NPP plans to establish two new bodies. First, the Ghana Housing Authority. This authority will be responsible for improving the legal and regulatory framework, creating land banks, providing infrastructure and standardizing houses. Second, the National Housing and Mortgage Finance Company will manage the Mortgage and Housing Fund set up in the 2020 budget, provide incentives to enable the private sector build communities’/housing units, and create jobs in the process across in the country.

Under the leadership of President Akufo-Addo, the NPP further intends to expand the capacity of the State Housing Company to lead government’s efforts alongside the private sector to build large pools of affordable houses for Ghanaian workers and families. Meanwhile, the government is committed to completing all housing projects begun by previous administrations in addition to the new projects initiated and yet to be initiated by the government.

Real Estates Investment Trusts (REITs) are going to be sponsored and promoted as vehicles for rent-to-own schemes, private sector mortgage finance companies and mortgage-backed securities. Also, the Mortgage Finance Act, 2008 (Act 770) is to be reviewed to simplify foreclosure processes. The Pensions Act will also be amended to allow pension funds to be able to invest more than 5% of their portfolio in real estate assets.

By implementing these measures, the Akufo-Addo administration will significantly address the housing deficit over the next four years.

Mybet.africa outdoor new platform design

September 11, 2020

GettyImages-512311520 — Manchester United forward, Marcus Rashford, wheels away to celebrate a goal. Credit: MUFCLatest.com

The leading sportsbook maker in Ghana, mybet.africa has outdoored a new platform designed to coincide with the start of the new football season.

The refreshing platform design has come at a time the new brand ambassador of mybet.africa, Countryman Songo football predictions campaign is peaking up on the media front.

The Marketing Head at mybet.africa states “ The new design look and feel is refreshing and warm. It is a whole new experience now, navigating mybet.africa platform” He further explained the reason for the new design, he said there was the need to give customers an eye-catching platform that is engaging, warm and friendly which is a representation of the deep rootedness of mybet.africa in Ghana. “We have no doubts in our minds, the new design will be embraced by all sports punters”

Mybet.africa is elated to have Countryman Songo as the new face to drive the brand campaigns and promotions. The sporting fraternity will soon see exciting and breathtaking campaigns across all media with Countryman Songo.

The seasoned presenter has hinted he is delighted to be associated with Ghana’s leading sportsbook maker and has made a strong statement to his ardent followers to massively tag along with the Cha Cha professionals, mybet.africa.

Mybet.africa is a wholly indigenous Ghanaian company licenced with the Gaming Commission of Ghana with over five years of experience in the gaming industry and a leading player in Ghana operating both online and offline sports betting.

Check out the new platform design on http://bit.ly/30BPOBD

Credit: www.mybet.africa

National Science and Maths Quiz to introduce maiden ‘AirtelTigo Highest Scorer Award’

September 11, 2020

Ghana-National Science and Maths-Quiz logo

As part of its commitment to supporting education as a key enabler of development, telecom operator AirtelTigo is supporting this year’s National Science and Maths Quiz (NSMQ) – the biggest academic competition in the country.

As a key partner, AirtelTigo and Primetime Limited – the competition’s organisers – will introduce the ‘AirtelTigo Highest Scorer Award’ for this year’s competition to reward schools with the highest score of the day from the preliminary to the finale.

“The National Science and Maths Quiz is a laudable initiative, and we hope that our contribution to this academic competition will go a long way toward grooming future engineers, teachers, entrepreneurs and leaders of tomorrow,” said the Chief Human Resource Officer at AirtelTigo, Eric Adadevoh.

Speaking at the launch, Managing Director of Primetime Limited, Nana Akua Ankomah-Asare, expressed her gratitude to AirtelTigo – adding that the support will enable them to run the competition.

This year, the competition will run from 8^th September to 8^th October 2020 and be live on television, besides the social media platforms of both AirtelTigo and National Science and Maths Quiz (NSMQ).

COVID-19: Root Capital supports Kuapa Kokoo farmers with US$325,000

September 11, 2020

IMG_20200909_125512 — Photo: Francis Opoku-Mensah, of Root Capital, second from right, presenting the cheque to President of the Kuapa Kokoo Farmers’ Cooperative Union, Madam Fatima Ali. Credit: Kizito Cudjoe

Root Capital, an impact finance organisation, has given Kuapa Kokoo Co-operative Cocoa Farmers and Marketing Union Limited (KKFU) US$325,000 to aid its effort to fight COVID-19 among cocoa farmers.

The first tranche of the money, which has been released according to KKFU, has enabled the purchases and distribution of soaps, handwashing stations, face masks, health education materials, among others.

These relief items are already being distributed to the 100,000-cocoa farmer-member.

The will make the handwashing stations available to the broader community of approximately two million people to minimize the spread of COVID-19.

According to KKFU, the outbreak of COVID-19 affected its business, disrupting the lives of farmers and other stakeholders.

“But with partners like Root Capital, we are confident we can help our community weather this crisis,” KKFU said in a statement to the media.

The biggest smallholder cocoa co-operative in Ghana and the world at large, KKFU, said it considers the health and safety of its farmers as very important in its operations.

“At Kuapa Kokoo the complete well-being of farmers is linked to the production of quality and ethical cocoa that we are noted for. Production targets cannot be met in light of the COVID-19 pandemic outbreak.”

It said COVID-19 scourge has halted all aspects of life, which has gravely affected the livelihood of over 100,000 Kuapa Kokoo farmers, with at least a household of 5 persons each. These farmers are located in the remote rural villages across 57 districts in six cocoa regions of Ghana.

To find a means of mitigating the effects of the spread of the COVID-19 pandemic, and also adapt to the adherence of the protocols to enable farmers to go about their daily activities that Kuapa Kokoo reached out to its partners.

Root Capital responded positively, releasing the first tranche of the US$325,000 grant to support KKFU’s COVID-19 interventions.

The Portfolio Manager, Anglophone West Africa, of Root Capital, Francis Opoku-Mensah, speaking in an interview after an official ‘handing over ceremony,’ said the company in the wake of the pandemic was considering how to also assist its borrowers.

It is along this backdrop that he said the request for funding from KKFU for assistance was approved.

He said checks from the farmers have shown that they continue to receive the ‘relief items,’ and optimistic that the momentum of the intervention would be maintained to realise the overall objective.

The main aim of the intervention being supported by Root Capital is to establish and operate a practical, proactive system for the prevention, identification and reporting of Covid-19 diseases by means acceptable to rural dwellers to minimize their risk of exposure and mitigate the impact of the pandemic on their socio-economic status.

These interventions are currently being delivered across the country by a crack team of Public Health and Clinical Specialists led by Dr Fred Bedzrah.

The Ag. Executive Secretary of KKFU, Mr. Nelson Adubofour, said COVID-19 has brought a lot of lessons, particularly investing more in IT to ensure enhance good collaboration and interactions with partners so that distance would not be a barrier to working effectively.

He said notwithstanding the loss of revenue, cancellation of some contracts among others the gesture from Root Capital would go a long way to help sustain their business especially protecting farmers from COVID-19.

‘Your voice is key to ending stigma and discrimination among people living with HIV: US Amb. Stephanie Sullivan to journalists’

September 11, 2020

The US Ambassador to Ghana, Stephanie S. Sullivan, has entreated journalists to continue rallying behind efforts to improve the lives of People Living with HIV (PLHIV), on the back of the ongoing campaign toward achieving the UNAIDS’ FastTrack 95-95-95 goal.

This campaign aims for 95 percent of the people living with HIV to know their positive status, 95 percent of those who test positive to be on sustained treatment, and 95 percent of those on treatment to have suppressed their viral load to the point where they cannot transmit it to anybody else.

Ambassador Sullivan said the continued coverage of HIV issues “should be presented in a non-technical way, so that ordinary people like me can easily understand, will help address stigma and discrimination, and lead people to take advantage of available HIV services”.

She added that the U.S. government is deeply committed to expanding key populations’ access to quality, stigma-free, lifesaving HIV prevention, testing, and treatment services. “And with your help, through informed and informative media coverage, we can and will end stigma and discrimination, and also reach epidemic control!”

Addressing some selected journalists at the closing ceremony of a seven-week long PEPFAR ‘virtual media training on HIV’, she said the U.S. government is deeply committed to expanding key populations’ access to quality, stigma-free, lifesaving HIV prevention, testing, and treatment services.

She observed that the informed and informative media coverage on HIV by journalists can help end stigma and discrimination and also reach epidemic control.

She said an undetectable HIV viral load means those with this deadly disease cannot transmit it to anybody else.

“Undetectable means that a test cannot detect the virus in the blood of a person living with HIV, although extremely small amounts of HIV are still present. Someone who takes and stays on HIV treatment, and is undetectable for 6 or more continuous months, does not transmit the virus through sex.

“It also means the virus is being well-controlled by HIV medication. If a person with undetectable HIV stops their medications, however, the virus will return to a detectable level – which then increases the risk of transmission,” she said.

Ambassador Sullivan disclosed that since PEPFAR’s pivot to focus on achieving epidemic control in the Western Region, more than 4,500 new positive cases have been identified. Out this number, 95 percent of people who newly tested positive were linked to treatment.

Additionally, 73 percent of those on treatment had a suppressed viral load, with 60 percent receiving the more convenient Multi-Month Dispensing (MMD) of their anti-retroviral treatment.

The U.S. President’s Emergency Plan for AIDS Relief (PEPFAR) is a programme that involves the U.S. Agency for International Development (USAID), the U.S. Centres for Disease Control (CDC), the Department of State, and the Department of Defense (DOD).

“The U.S. government is delighted to offer initiatives such as this workshop, because, as we’ve seen in the past seven weeks, they are effective,” she added.

The virtual workshop among others highlighted PEPFAR’s efforts, achievements, support to the UNAIDS Fast-Track strategy of 95-95-95, and the importance of anti-stigmatisation reporting.

One of the participants, Patricia Bonsu – a freelance broadcast journalist said: “The great wealth of knowledge, shared experiences and awareness through the training will contribute to sustain the conversation on HIV and AIDS”.

The participating journalists for the virtual workshop were selected from across the country.

Media HealthLink, African Centre for Development Reporting, Ghana AIDS Commission, and the Ghana Journalists Association (GJA) were among partner organisations involved in the workshop.

Ebenezer M. Ashley’s thoughts ….. Role of Technical and Vocational Education and Training in Ghana’s development for the 21st century

September 11, 2020

Vocational School — Students in a technical and vocational school(Photo Credit: gettyimages)

The concept of technical education has attracted varied explanations. It is often referred to as Career and Vocational Education (CVE) or Technical and Vocational Education and Training (TVET). Technical education involves the imparting of knowledge through laid-down procedure; it is the type of education that prepares individuals for specific careers, trades, and crafts at various levels from craft, technician, trade or professional positions in accountancy, medicine, architecture, engineering, nursing, law, pharmacy and others.

The term, craft, is often used to describe a profession that demands some particular form of skills. In the Middle Age and earlier, the term, craftsman or craftswoman, was used to describe individuals engaged in small scale production of goods or their maintenance. In contemporary times, the term artisan is used in place of craftsman or craftswoman. In rare cases, the term craftsperson is used. Craft vocation involves practical or manual activities related to a specific vocation, trade or occupation. Under craft vocation, the trainee develops expertise in a given set of techniques. For this reason, it is sometimes called technical education. Craft vocations may not necessarily involve further education, but can be pursued at a higher level.

Forms of Knowledge in TVET

Two major forms of knowledge are identified in the realm of technical and vocational education and training. These include propositional or declarative knowledge and imperative or procedural knowledge. The use of conceptual and theoretical knowledge in the resolution of problems abounds in propositional or declarative knowledge. It involves the use of scientific methods in solving socio-economic issues. This is more pronounced in regular secondary institutions and non-technical universities than in vocational and technical institutions, and technical universities. Under imperative or procedural knowledge, the individual applies knowledge to a specific task or job. Problem-solving under this form of knowledge requires actual performance, not theoretical postulations. Generally, technical and vocational education involves the use of procedural or imperative knowledge; not declarative knowledge.

TVE and Apprenticeship System

Throughout the world, technical and vocational education (TVE) has interactions with the apprenticeship system. Technical and vocational education can be pursued at the secondary, post-secondary, technical university and ‘general’ university levels. Academic credits accumulated at the pre-university levels can be used to gain admission into the university.

Apprenticeship involves imparting of basic set of skills from an experienced person to another person, or to a group of persons, with a structured competency. Apprenticeship training prepares trainees for their preferred jobs, vocations or trades. Apprenticeships are designed for many levels of work – from manual trades to high knowledge work. The term apprentices is used to describe male learners while the term apprentesses is employed to describe female learners.

The labour market in the 21^st century has become more specialised, while economies demand higher levels of skill. This has compelled businesses and governments across the globe to increase their investments in technical and vocational training to secure its future. Some of the initiatives, notably from government’s perspective, include increased public funding in training individuals and organisations; and subsidised apprenticeship or traineeship initiatives for businesses. In most developed economies, technical and vocational training at the post-secondary level is provided by community colleges, technology institutes and universities.

Fortunately, emerging and developing economies, including Ghana, are emulating the shining examples and giant strides of advanced economies in the development of their respective technical and vocational trainings. In Ghana, technical and vocational training at the post-secondary level is pursued predominantly at polytechnics and technical universities. Currently, Ghana boasts a technical university or polytechnic in each of the ten traditional regions.

In the 21^st century, the use of technical and vocational skills is highly pronounced in industries such as retail, funeral services, tourism, cosmetics, information technology, cottage and traditional crafts such as blacksmithing and basket-weaving, construction, mining, assembly plants, dressmaking, hairdressing and hair-braiding, barbering (haircuts) and carpentry, among others. The vibrancy of the foregoing industries underscores the need for strategic and improved technical and vocational training methods to adequately meet the needs of consumers in these industries.

The Fourth Industrial Revolution

Society has evolved in its quest for effective and efficient production in commercial quantities to meet the growing needs and demands of its inhabitants. This development is commonly known as the Industrial Revolution. Experts believe the world has evolved to the fourth industrial revolution. The first revolution involved use of water and steam power to produce goods in large quantities to meet growing demands. The second involved use of electric power for mass production; and the third focused on use of electronics and information technology to automate small- and large-scale production in various parts of the world.

The fourth is described as the digital revolution. It involves blending of technologies – that is, blurring the lines between the biological, physical, and digital spheres to meet growing socio-economic needs across the globe. Global leaders are encouraged to embrace the digital revolution due to its enormous propensity to turn the economic fortunes of nations around, positively.

United States in Perspective

In the United States of America (USA), vocational education varies from state to state. Most post-secondary technical and vocational institutions are proprietary. That is, they are privately owned. About 30 percent of all credentials in technical and vocational education are provided by two-year community colleges. These colleges offer courses and programmes which are transferrable to four-year universities and colleges. Some programmes are offered through Adult Education Centres operated by government or through military technical training.

Middle Schools and High Schools offer technical and vocational training courses such as home economics, drafting, wood and metal shop work, typing, business courses and auto repairs. An implementation of the standard-based education (SBE) reform in the United States places more emphasis on the academic performance of technical and vocational skills students than on their developed skills. The SBE Reform calls for clear, measurable standards for all academic students. The SBE system measures each student against the concrete standard. Curriculums, assessments, and professional development are aligned to standards.

Great Britain in Perspective

It is believed the skills held by the labour force in Great Britain do not conform to those demanded by organisations. A report issued by the British Institute of Public Policy Research (IPPR) in recent years indicated the country’s ability to effectively compete in technical and vocational education at the global level is contingent on the institutionalisation of stronger and better quality technical and vocational education system.

The British Institute of Public Policy Research report noted demand for medium-skilled jobs requiring technical and vocational qualifications will increase in the next 7 years. The report further revealed expansion in tertiary education will out-pace the creation of jobs requiring highly-skilled labour. The implication is eventual churning out of excess labour force (supply) over demand by industry. The report provided the British government with an opportunity to take proactive steps to remedy the foreseen human capital challenges which may be inimical to the country’s socio-economic development and growth.

Ghana in Perspective

In Ghana, there are two identified pathways to technical and vocational training. These include admission into a technical or vocational institute, and possibly proceeding to the tertiary level; and apprenticeship with a master artisan or craftsperson in a chosen field or trade. There are three levels of technical and vocational education in Ghana: Basic education, secondary education, and tertiary education levels.

The basic education level is used to describe commencement of technical and vocational education at the Junior High School (JHS) level. The main objective of basic education in Ghana is to vocationalise education; and to develop the psychomotor skills of students.

At the secondary education level, technical and vocational training courses are offered in technical institutions, secondary technical schools, vocational schools and training centres, some initial teacher training colleges, and in other post-basic education training schools.

Delivery of technical and vocational education at the tertiary level is made by the polytechnics, other professional institutions, technical universities and some non-technical universities. The underlying objective of vocational and technical education at the basic and secondary levels is to make vocational and technical training skills available to young men and women to facilitate their fulfillment of Ghana’s technical manpower needs – including self-employment in the fields of agriculture, business, industry, and information and communication technology (ICT).

Basic Statistics on TVET in Ghana

Available statistics from the Ghana Education Service (GES) on pre-tertiary technical and vocational institutions in the country over recent years revealed the establishment of about one hundred and sixty (160) public technical and vocational institutions, including twenty-two (22) technical institutes. There were nineteen (19) National Vocational Training Institute (NVTI) centres under the Ministry of Employment and Labour Relations; and others run by various government organisations such as the National Community Development Vocational Institute (NCDVI) established in 1965 by the Department of Social Welfare and Community Development. There are about two hundred and fifty (250) officially registered private vocational schools training centres operated by individuals, churches, and non-governmental organisations (NGOs).

However, in 2019 the sector minister, Hon. Matthew Opoku Prempeh, noted the availability of four hundred (400) public-sector TVET institutions across the country. These institutions exist and operate under the ambit of nineteen (19) distinct ministries, but plans were far advanced to integrate or realign them under the Ministry of Education to standardise their instructional quality and certification; and to ensure all students have access to the Free TVET education programme to be rolled-out starting from the next academic year. Presently, only TVET schools under the Ghana Education Service enjoy free education through the Free Senior High School (SHS) programme. The integration forms part of the ‘Five-Year Strategic Plan for TVET Transformation’ approved by Cabinet for implementation.

Traditional Apprenticeship System

As affirmed earlier, in Ghana the traditional apprenticeship system involves learning a specific trade from a master artisan or craftsperson in areas such as dressmaking, plumbing, hairdressing, electronics and auto-mechanical repairs in the economy’s informal sector. Most of the master artisans learnt the trade the same way. The traditional apprenticeship system is very important; it facilitates training people for economic development. Most technical and vocational education and training practitioners are in the informal sector of the Ghanaian economy.

The Asian Tigers – including Malaysia, Korea, Taiwan, Hong Kong and Singapore – have developed sound policies in technical and vocational training. This has resulted in the supply of more highly-skilled labour forces in those countries. Other upper and lower middle-income economies such as Ghana can emulate the sterling examples of the Asian Tigers in the area of technical and vocational education and training. Sound investment in TVET would yield the desired dividend; it would create employment opportunities for the unemployed, especially the youth; it would facilitate training of more people to meet the manpower needs of the country and possibly have surplus to export.

Indeed, actualisation of the One District, One Factory initiative – a flagship programme introduced by the President Nana Akufo-Addo administration – is contingent on a myriad of factors, including adequate supply of human capital to meet the expected demands of factories in all districts across the country. The foregoing renders massive investment in technical and vocational education and training inevitably; and accentuates the President Nana Akufo-Addo administration’s resolve to invest about €500million, equivalent to GH¢3billion, into TVET.

Ghana Skills Development Initiative (GSDI)

In Ghana, the technical and vocational training sector is regulated by the Council for Technical and Vocational Education and Training (COTVET). Indeed, Ghana needs a skilled labour force to maintain its houses, bridges, railroads or railways, seaports and roads. The country needs competent mechanics and engineers to provide the requisite services for its industries – auto, hardware, shoes, jewellery, and garment and textile industries to name a few.

In response to the growing technical skills requirement of the country, the Ghana Skills Development Initiative (GSDI) was founded. GSDI is a German government-assisted project that is implemented in cooperation with the Council for Technical and Vocational Education and Training.

The Ghana Skills Development Initiative aims at building capacity in the informal sector of the Ghanaian economy. In Ghana, the informal sector is noted for employing about 90% of the active labour force. The Ghana Skills Development Initiative is intended to improve structural deficiencies inherent in the Ghanaian apprenticeship system. These deficiencies include lack of coordination, non-standardisation of training, and technological inefficiencies among others.

Benefits of TVET

Addressing the numerous challenges associated with the successful implementation of technical and vocational education and training would have some positive socio-economic impacts on the Ghanaian economy. First, it would allow individuals to acquire life-long skills. Just as formal education is believed involve life-long knowledge-acquisition, so does a skill acquired through technical and vocational training remain a possessive asset of the trained till death. Even in old age, a skilled person can earn a decent living through coaching and teaching. It is worth emphasising a person’s brain becomes a major source of livelihood in old age – not his or her physical strength.

Individuals who train as engineers and highly skilled professionals have the opportunity to earn decent wages and salaries, win the bid for valuable contracts, and live in dignity – economically or financially. Thus, TVET contributes significantly to elevating the economic and social status of individuals. Through an effective and efficient technical and vocational education and training system, the country’s manpower needs can be met substantially. The various national and private technical and vocational institutes strive to churn out graduates to meet the manpower needs of various firms in the economy’s industrial sector. As noted in the preceding section, the role of TVET in the successful implementation of the One District, One Factory programme cannot be overemphasised.

The rate of unemployment in the Ghanaian economy (approximately 6.78% in 2019) can be reduced considerably through technical and vocational education and training. Individuals who acquire informal technical and vocational training in auto and refrigerator repairs, electronic repairs, beads-making, sewing, hairdressing, to mention a few, often set up their own shops – and enrol new entrants for training. This reduces the amount of active labour force that is idle in the economy. Further, TVET holds the key to the successful development of the requisite human capital to operate most of the factories envisaged to be established in the nooks and crannies of this country.

Well-coordinated TVET programmes will contribute positively to national revenue mobilisation through an expanded tax net. As more individuals are trained and absorbed into the job market, the number of employees and organisations eligible for tax payment increases. All else held constant, when more people are attracted to tax payment, the nation’s total revenue from taxes will increase. In turn, successful execution and completion of government-sponsored projects will be enhanced.

Training individuals to be technically and vocationally skilled increases the country’s competitiveness at the global level, and minimises the need for the importation of same. Ghana’s ability to train and churn out highly skilled personnel will help meet manpower needs of the country, and possibly export excess skilled personnel to neighbouring West African countries and other countries on the African continent and beyond.

Currently, advanced and emerging economies such as the United States of America, Germany, China, India and Brazil boast engineers with strong professional achievements and reputations – as evidenced in the constructions of the Kwame Nkrumah, Tema and Pokuase interchanges, and other infrastructural projects in Ghana and across the African continent. Ghana can imitate the sterling accomplishments of these economies through enhanced TVET programmes and structures at the secondary and tertiary levels.

Challenges of TVET

The successful development of technical and vocational education and training in Ghana has suffered setbacks due to a number of factors. Notable among these is included public perception of low prestige. An erroneous impression held among a section of the Ghanaian populace is that students who enrol in technical and vocational programmes are academically weak; they do not have the intellectual ‘clout’ to compete effectively with their counterparts in the ‘regular’ secondary schools. Such an impression makes potential technical experts shy away from the profession. The situation is exacerbated further by some parents who do not subscribe to their wards’ decision to pursue careers in technical and vocational education and training, at the expense of ‘prestigious’ careers in law and banking, among others.

Another challenge is the difficulty in imparting technical and vocational knowledge to trainees in the formal and informal sectors of the Ghanaian economy. The teaching method adopted by some technical and vocational instructors makes it difficult for students to effectively grasp and appreciate the concept of technical and vocational education and training in Ghana. In some cases, students graduating from the Junior High School level seek admission into Science and Business programmes at the Senior High School level. When they are unable to gain admission into the aforementioned programmes, they opt for technical and vocational education and training institutions as a last resort. As a result, the zeal and enthusiasm required to enrol and ensure the student’s eventual success are non-existent. This affects the overall performance of the implied students.

Some trainees in the informal sector are introduced to vocations in which they have limited interest or lack the mental capacity to live up to training expectations. This affects the entire training period’s duration. For instance, a training course expected to last for say six months might last for a year; a training course estimated to last for a year may extend into two years due to the trainee’s inability to cope effectively with and grasp the training regimen. Excessive reliance on theory rather than practice due to lack of practical equipment in many institutions continues to be a bane to technical and vocational education and training in developing economies, including Ghana. For instance, in recent years, equipment acquired in the mid-40s were still the main source of training students at the Asawansi Technical Institute in the Central Region of Ghana.

Availability of even outmoded equipment is rare in some institutions. Stated differently, some technical and vocational institutions exist in principle; however, in practice, they lack basic and sophisticated equipment to effectively train students enrolled in various programmes. In most institutions where technical tools and equipment can be located, the students-tools ratio is very high. That is, many students are compelled to use a limited number of tools and equipment, and this affects the quality of practical training.

Unfortunately, successive elected governments’ commitment to technical and vocational education and training over the years has not been encouraging. This is evident in the budgetary allocations over the years. As an example, the Ghana Education Service (GES) used to allocate only about 2% of its budget to the technical and vocational education and training sector. Clearly, such an allocation affects the effective development of the sector. However, recent campaigns by current government officials – including the Minister of Education, Hon. Prempeh and his deputies – point to their realisation of the sector’s marginalisation and the urgent need to address its challenges to enhance its contribution to the development of skilled and qualified manpower personnel in the country.

Low budgetary allocation by the Ghana Education Service derails the forward movement of the Council for Technical and Vocational Education and Training in the area of policy formulation and implementation, as well as supervision. Lack of funding affects the positive impacts that technical and vocational institutions require of COTVET. Technical assistance required of COTVET by the technical and vocational institutions spread across the country is not forthcoming due to lack of financial and technical resources.

Generally, students enrolled in some vocational training programmes do not read and take national examinations in English and mathematics. This affects their smooth transition from one level of the academic ladder to the next. As an example, enrollment into programmes at the polytechnic, technical university, and non-technical university levels by vocational students sometimes become problematic due to the exclusion of English and mathematics from their curricula; and from their national examinations.

Government’s Response to Challenges

As noted in the preceding section, there is a positive relationship between TVET and the industrialisation drive intended for this country by President Nana Akufo-Addo’s administration. The industrialisation drive’s success depends to a very large extent on the effectiveness of TVET. In most manufacturing settings, demand for factory-hands exceeds demand for ‘white-collar’ or administrative hands – implying technical and vocational trainees will dominate the demand for human capital during the implementation of the industrialisation programme.

Fortunately, the current political administration is not oblivious of the crucial role of TVET and has taken steps to address some of the key challenges in the sector.

In 2017, a Deputy Minister of Education was appointed to ensure success for the nation’s TVET programme. President Nana Akufo-Addo’s administration is committed to the construction of thirty-two (32) ultra-modern TVET institutions in all sixteen (16) regions across the country. Funds required for the project have been secured, while feasibility studies have been completed. The decision to spread the construction across the country is analogous with the establishment of factories in all the districts. This will create the required link among the respective factories and training institutions.

The Education Ministry has taken the requisite initiatives to lay a bill on pre-tertiary Education before Parliament. The bill seeks to mandate the establishment of a TVET Service with its own Director-General and to integrate all TVET institutions under the Education Ministry. Further, it has developed a curriculum on Competency-Based Training (CBT) for various areas in trade; and has accredited seventy-six (76) institutions to run CBT programmes.

The Education Ministry is equally mindful of the need for the trainer to be well-equipped or trained to facilitate his training of trainees. To this end, a university dedicated solely to the training of instructors for TVET is being established; while the retooling, upgrade and expansion of thirty-five (35) National Vocational Training Institutes, thirteen (13) technical institutes, eight (8) technical universities and two (2) polytechnics is ongoing in various parts of the country.

In addition, two new machining and foundry centres are being established in Accra and Kumasi. The estimated costs of the two projects are €119million, equivalent to GH¢642.6million, and constitute about 3.7% of the Ministry of Education’s budget for the financial year. As stated earlier, a total of €500million, equivalent to GH¢3billion has been secured for investments in all the projects outlined in this section. This will enhance Ghana’s preparedness and responsiveness to the human capital challenges likely to be posed during the implementation stage of the industrialisation agenda.

At the continental level, Ghana is committed to the Fund established by the African Union (AU) for Development of Education among member-countries. The fund is intended to allow member-countries to develop requisite skills in the areas of technology, applied sciences, and engineering for industrial and economic transformation. In 2019, Ghana pledged US$2million to the Fund.

Ghana is a member of World Skills International, an organisation established to provide youths across the globe with an opportunity to showcase their skills-set. Skills competitions are organised by the Ministry of Education at the zonal and national levels to unearth the technological talent in Ghanaian youths. Recent winners of some of these competitions were sponsored by the nation to participate in the World Skills Africa Competition held in the Rwandan capital, Kigali. Participants from Ghana returned with awards – gold, silver and bronze – in different categories. Some winners of the competition were later flown to Italy by the state to train in mechatronics. These trainees are currently in the country and leading in the development of robotic arms to train other youths.

Recommendations

In view of the myriad challenges weighing against the successful and meaningful contribution of technical and vocational education and training to Ghana’s economy, the following recommendations are proffered:

The Council for Technical and Vocational Education and Training must develop mechanisms to effectively educate the general public on the importance of technical and vocational education and training in the Ghanaian context; and its significant contribution to national development. The education should clear erroneous impressions held by a section of Ghanaians about technical and vocational education and training. Intensive education and campaigns by COTVET will improve existing students’ appreciation for the profession, and attract new entrants.

Similarly, individuals in the informal sector will be encouraged considerably if the economic and social benefits of engaging in technical and vocational training are effectively explained to them. Overall, the effectiveness of the foregoing will enhance the achievement of one main objectives of the Education Ministry – that is, encouraging the youth to identify and appreciate TVET as the first and not the last academic resort toward their career development. The ‘My TVET Campaign’ can serve a useful purpose in this regard.

COTVET must take proactive steps to gradually transition artisans in the informal sector to the formal sector. Stated differently, COTVET should liaise with master artisans in the informal sector; identify trained artisans with academic potentials, and make the necessary arrangement for them to acquire formal education in addition to the training in their specialised fields. This would ease their mode of interaction with clients. Through formal education, trained artisans’ mode of transacting business with their clients is likely to improve considerably.

Steps initiated by the Ministry of Education to harmonise, co-ordinate, regulate, standardise and improve on instructional delivery in the TVET sector are worth acknowledging. Challenges confronting the TVET sector in prior and recent years were enormous; and any political administration that deems it expedient to alleviate the plight of the sector deserves support and encouragement from all key and relevant stakeholders, including the citizenry.

Presently, the National Vocational Training Institute has some arrangements that allow artisans trained in the informal sector to enrol and earn a certificate in their specialised field. COTVET can complement efforts of the NVTI by introducing similar programmes in other institutions, both public and private. COTVET must ensure activities of artisans in the informal sector are effectively coordinated under its umbrella; the collaboration between the formal and informal sectors must be strong to accelerate the development and growth of TVET in the country. Perhaps the introduction of the Competency-Based Training programme is a prototype; it could address the foregoing challenges in the TVET sector.
It is often said learning is an ongoing process, implying the need for trainers to be constantly abreast of contemporary trends and technology in their specialised fields to facilitate their interaction and imparting of theoretical and practical knowledge to trainees. It is therefore refreshing to note that equipment secured for the technical universities, polytechnics, and the tertiary institution dedicated solely to the training of lecturers and facilitators meet industry 4.0 standards and allow for re-training of trainers. It is hoped this initiative will eliminate the high incidence of theoretical instruction rather than practical application in many TVET institutions, and push the country closer to addressing the technological challenges posed by the Fourth Industrial Revolution.
Pupils at the pre-Junior High School (JHS) level must be educated on the importance of technical and vocational training. Information on available career opportunities should be disclosed to pre-JHS pupils, to whip-up their enthusiasm and adequately condition them to embrace the TVET concept at JHS level and beyond. The success stories of some citizens whose eminence is predicated on technical and vocational education and training should be made known to the pupils. This will increase enrolment rates and facilitate the implementation of the Free TVET programme at the secondary level across the country. To this end, initiatives of the Education Ministry to implement its programme on Career Guidance and Counselling to propagate the significance of skills and TVET at the basic level of our educational system is in order.
Indeed, the quantum of resources – financial, energy and structures – totalling about GH¢3billion invested into TVET in recent periods attests to the President Nana Akufo-Addo administration’s resolve to elevate TVET to higher echelons of the nation’s educational strata. There is no gainsaying that the overarching idea is to ensure TVET does not play second-fiddle to the mainstream secondary education. The concerted effort of all and sundry is required to make the huge investment in TVET socio-economically beneficial.
The minds of trainees in the formal and informal sectors must be psychologically conditioned to prepare adequately for the challenges associated with TVET at all levels. There is no gainsaying successful technical and vocational education and training hinges on tactfulness, thoughtfulness, concentration and commitment, among others, on the part of the learner or trainee. Due to the foregoing qualities, some individuals opine TVET is very difficult. To resolve this debilitating issue, COTVET – in collaboration with the various technical and vocational institutions – can organise seminars for technical and vocational students and trainees.
COTVET must be adequately resourced, financially, by the Ministry of Education through the Ghana Education Service or through the TVET Service when it becomes fully operational, to enable COTVET to provide all the needed support (equipment and expertise) to the various technical and vocational institutions in the country. Evidently, an institution that lacks the basic implements required to ensure the realisation of set objectives will have a daunting task on hand; realisation of set objectives may be a mirage, and not a reality.

To avert a lack-lustre performance, elected governments – through the sector ministry and department – must strive to consistently meet the financial and other significant needs of COTVET. The massive investment of GH¢3billion in TVET attests to a paradigm shift from the financial famine that has consistently plagued COTVET and the development of TVET in the country. The whopping investment (GH¢3billion) has set standards and raised the bar on investment in TVET programmes. Now, sustainability remains the watchword.

The 21^st century and beyond is characterised by advanced technological standards. Use of sophisticated technical and vocational tools is the order of the day. To this end, training individuals in TVET should be based on a scientific approach; modern equipment must be acquired to replace the dilapidated and obsolete ones used as a medium of practical instruction.

Thus, the current administration’s decision to construct thirty-two state-of-the-art TVET institutions, and to re-tool all the technical universities and polytechnics through the establishment of modern laboratories and workshops, deserves commendation. The laboratory and workshop equipment is tailored to meet contemporary industry standards and equip students with industry-relevant skills. It is hoped successive elected governments will deem it necessary to improve on the sector’s development to enhance its eventual contribution to national growth while remaining very competitive at the global level.

Continuous development of the technical and vocational education and training sector is very paramount. As a result, in addition to the preceding point, there is a clarion call on industries, non-governmental organisations, and alumni of various technical and vocational education and training institutions who are indirect and direct beneficiaries of TVET to contribute their modest quota to its development. Successful alumni can donate tools, equipment; or construct blocks toward the development and expansion of their respective TVET institutions.
As indicated earlier, some students enrolled in vocational institutions in the country do not take examinations in English and mathematics. This affects their ability to be admitted directly into tertiary institutions. For instance, to enrol at the polytechnic level, a vocational school graduate has to take the advanced course, Stroke Two, to qualify. Some students describe the current academic arrangement as worrying and disenchanting. To ensure direct entry into tertiary institutions (polytechnics, technical universities, and non-technical universities) by pre-tertiary TVET students, there is need for a review of the curricula for technical and vocational institutions, including NVTI, to include English and mathematics in the programme and in final examinations.
Availability of jobs in the ‘non-technical’ sector of the Ghanaian economy is either non-existent or very scarce. However, the reverse is true in the case of the TVET sector. This presents the relevant ministry, departments, and agencies with an opportunity to encourage more individuals into technical and vocational education and training to equitably distribute the nation’s human capital among the various sectors. This would ensure efficiency, and by extension, increased productivity.

Equitable distribution of the nation’s human capital would minimise, if not completely eliminate redundancy and over-concentration of human capital in a particular area of the economy. The relevant ministries should actively engage industries and graduates to ensure effective absorption of the latter into the job market. Ghana is very good at policy formulation, but poor at implementation. This unfortunate trend must change; and it is hoped the implementation of Free TVET coupled with other continental engagements, such as active participation in the Fund for the Development of Education in Africa, will mark the beginning.

The writer is a Chartered Economist/Business Consultant

Small and medium enterprises lynchpin of African agriculture – AfDB

September 11, 2020

Africa’s emerging agripreneurs call for increased SME-to-SME cooperation at Bank-organized food systems webinar attached to the African Green Revolution Forum

A panel of some of Africa’s most promising small and medium enterprise (SME) agripreneurs gathered online to call for more selective investment, accelerated business acquisitions and increased cooperation to help Africa feed itself and the world.

The African Development Bank organized the virtual session, Integrating African Food Systems through the Lens of SME Champions, as a side-event ahead of Africa’s largest agriculture conference – the African Green Revolution Forum (AGRF) – which is being held online for the first time, from 8-11 September. Webinar moderator Atsuko Toda, Bank Director for agricultural finance and rural development, said the panel members, were selected because they are using innovative solutions, tailored their business models, have a proven track record, and shown to have an impact on food systems.

“We see the importance of the roles that you play, the risks you take and the Bank wants to give you more visibility so that policymakers can understand the challenges of what you are facing and help SME Champions to grow,” Toda said.

The group of African “SME Champions” – heads of SMEs across the continent’s food system production, processing, logistics, agricultural digitization and cold storage chain solutions sub-sectors, set the scene for webinar attendees, by describing the challenges and opportunities they face in trying to meet Africa’s food systems demands. Some said policy, programs and financing in Africa are geared toward larger organizations and businesses – and that there is still too heavy a focus on agricultural imports to Africa.

“Especially if you are an SME it is really challenging to penetrate the market and do something significant,” said Nicholas Alexandre, Global Head of Commercial at LORI, a Kenya-based tech-driven logistics company.

Others shared their experiences in overcoming challenges. For example, Nnaemeka Ikegwuonu, head of Nigeria-based ColdHubs, says his solar power, cold storage facility company helps farmers’ produce stay fresher, longer, reducing the need to rush a product to market at less competitive prices. ColdHubs says it invested in the storage infrastructure so that farmers could benefit from the service at a reasonable price.

“We are taking the risk out of ownership of huge cold rooms from smallholder farmers because we design, operate and maintain these cold rooms. We offer a pay-as-you-use service model,” said Ikegwounu.

Kenya’s SunCulture company, which provides farmers with solar-powered irrigation services, also uses a similar “pay-as-you-grow” service fee program. SunCulture CEO and SME Champion Samir Ibrahim told webinar attendees that there has been sufficient development and investment support to African entrepreneurs to know what works – and that it is time to step upscaling up efforts. “We know that there are proven solutions, the focus now should be to target finance and partnerships to scale those…We need donors and multilateral to start cutting much bigger checks for much fewer interventions…so we can see the needle moving,” Ibrahim said.

Other champions said building up Africa’s agriculture sector lies in building up its agriculture value chains. SME Champion Patricia Zoundi, who started up Canaan Land, a Cote d’Ivoire-based company that trains women in rural areas in order to develop sustainable and inclusive agriculture said, “We have north-north cooperation. We have south-south cooperation. Now it is time to have SME-to-SME cooperation…On this panel, I see three SMEs with which I can collaborate in marketing…[they offer] something I need in my value chain.”

Toda closed the session by reassuring SME Champions that their insights shared would be transformed into key messages intended to reimagine policy, resulting in the accelerated transformation of Africa’s food systems. “There is so much for us to share, proven solutions for us to amplify, to bring forward to scale and consolidate through partnerships and finance.

Barry Eichengreen’s thoughts…The pandemic’s most treacherous phase

September 11, 2020

COVID-19 situation in US — Photo: Emergency medical service. Credit: Anadolu Agency

April marked the most dramatic and, some would say, dangerous phase of the COVID-19 crisis in the United States. Deaths were spiking, bodies were piling up in refrigerated trucks outside hospitals in New York City, and ventilators and personal protective equipment were in desperately short supply. The economy was falling off the proverbial cliff, with unemployment soaring to 14.7%.

Since then, supplies of medical and protective equipment have improved. Doctors are figuring out when to put patients on ventilators and when to take them off. We have recognized the importance of protecting vulnerable populations, including the elderly. The infected are now younger on average, further reducing fatalities. With help from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, economic activity has stabilized, albeit at lower levels.

Or so we are being told.

In fact, the more dangerous phase of the crisis in the US may actually be now, not last spring. While death rates among the infected are declining with improved treatment and a more favorable age profile, fatalities are still running at roughly a thousand per day. This matches levels at the beginning of April, reflecting the fact that the number of new infections is half again as high.

Mortality, in any case, is only one aspect of the virus’s toll. Many surviving COVID-19 patients continue to suffer chronic cardiovascular problems and impaired mental function. If 40,000 cases a day is the new normal, then the implications for morbidity – and for human health and economic welfare – are truly dire.

And, like it or not, there is every indication that many Americans, or at least their current leaders, are willing to accept 40,000 new cases and 1,000 deaths a day. They have grown inured to the numbers. They are impatient with lockdowns. They have politicized masks.

This is also a more perilous phase for the economy. In March and April, policymakers pulled out all the stops to staunch the economic bleeding. But there will be less policy support now if the economy again goes south. Although the Federal Reserve can always devise another asset-purchase program, it has already lowered interest rates to zero and hoovered up many of the relevant assets. This is why Fed officials have been pressing the Congress and the White House to act.

Unfortunately, Congress seems incapable of replicating the bipartisanship that enabled passage of the CARES Act at the end of March. The $600 weekly supplement to unemployment benefits has been allowed to expire. Divisive rhetoric from President Donald Trump and other Republican leaders about “Democrat-led” cities implies that help for state and local governments is not in the cards.

Consequently, if the economy falters a second time, whether because of inadequate fiscal stimulus or flu season and a second COVID-19 wave, it will not receive the additional monetary and fiscal support that protected it in the spring.

The silver bullet on which everyone is counting, of course, is a vaccine. This, in fact, is the gravest danger of all.

There is a high likelihood that a vaccine will be rolled out in late October, at Trump’s behest, whether or not Phase 3 clinical trials confirm its safety and effectiveness. This specter conjures memories of President Gerald Ford’s rushed swine flu vaccine, also prompted by a looming presidential election, which resulted in cases of Guillain-Barré syndrome and multiple deaths. This episode, together with a fraudulent scientific paper linking vaccination to autism, did much to help foster the modern anti-vax movement.

The danger, then, is not merely side effects from a flawed vaccine, but also widespread public resistance even to a vaccine that passes its Phase 3 clinical trial and has the support of the scientific community. This is especially worrisome insofar as skepticism about the merits of vaccination tends to rise anyway in the aftermath of a pandemic that the public-health authorities, supposedly competent in such matters, failed to avert.

Studies have shown that living through a pandemic negatively affects confidence that vaccines are safe and disinclines the affected to vaccinate their children. This is specifically the case for individuals who are in their “impressionable years” (ages 18-25) at the time of exposure, because it is at this age that attitudes about public policy, including health policy, are durably formed. This heightened skepticism about vaccination, observed in a variety of times and places, persists for the balance of the individual’s lifetime.

The difference now is that Trump and his appointees, by making reckless and unreliable claims, risk aggravating the problem. Thus, if steps are not taken to reassure the public of the independence and integrity of the scientific process, we will be left only with the alternative of “herd immunity,” which, given COVID-19’s many known and suspected comorbidities, is no alternative at all.

All this serves as a warning that the most hazardous phase of the crisis in the US will most likely start next month. And that is before taking into account that October is also the beginning of flu season.

Barry Eichengreen is Professor of Economics at the University of California, Berkeley. His latest book is The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era.

Mind your Language with Emefa Agordoh-Mekpor : Your first draft is not good enough(1)

September 11, 2020

Tips for self-editing your work

Many writers hate to edit their own work. And that’s only natural – you have such a sense of completion when you finish writing that you cannot imagine that you still got work to do. And to think that that work is equally demanding – or perhaps more demanding – writers want nothing to do with editing. I am a stickler for having different set of eyes review what you have written, but I also firmly believe in proofreading your own work. Whether it’s an email, a business proposal or a novel, you should aim to edit your writing before you ship it off to someone else (a professional editor, I hope) to review further.

Why self-editing is good for you

When you learn to self-edit effectively, you will reduce the cost and time demand that will be placed on the person editing it for you. If you are not paying for the service, it will still take more time just because you didn’t review it yourself.

Do you know why we teach students to proofread their answers before submitting an exam script? It is because we seek to imbibe this valuable skill in them. There will be situations where no one can read what you have written, either because it is extremely confidential or because it is not permitted. When you are sending a very sensitive email, you would definitely need to proofread it yourself and make all the necessary corrections.

The last reason for you to master self- editing is for the sake of your reputation. Believe you me, sometimes as editors we make comments like this to ourselves (and I repeat, only to ourselves), “She didn’t even bother to go over what she had written. Just look at this petty mistake”. You definitely don’t want anybody to say that about your work and have a poor estimation of you, so learn to review when you write.

Now let’s look at some tips to make self-editing easy for you:

Take a break before you edit: When you start writing, your mind is in a creative mode. Editing is re-creating and needs its own state of mind. This is why we advise you to leave the written work for some time and return to edit it. This could be minutes, hours, days or even weeks later. You may not have the luxury of time but it surely does pay to take the time off and return to your written work later. When you do this, you are more likely to spot errors and you approach your work more objectively.
Read out loud: When you begin to edit your work, you might want to read it out loud – s l o w l y. I have realized that this works like magic! Our eyes tend to deceive us because we know what we expect to see and we end up missing errors. But when we read aloud, we force the brain to pay attention to what is on the paper, or screen.
Get rid of clichés and repetitions: You know those phrases you have heard so many times that you wish you would never hear in your life again? Like when a guy tells a lady, “You are the only mosquito in my net” Did I hear you say “ah”? Exactly. There are many overused phrases like that in the English language that slip into writing ever so often. When editing, try to look out for some of these clichés and any ideas that have been repeated in the writing. People struggle to identify repetition because they think it means seeing the same thing twice. Repetition is when you express the same idea using different words in your writing. Choose the most interesting rendition and remove the other sentences. Also keep an eye on those words that you tend to use a lot.
Write English: Yes, you heard right. Use plain simple English; not those words they only use for spelling bees and vocabulary tests that we never use when we are speaking. As much as possible, check your work for those words that will generally be difficult for the average person to understand. Avoid veneration, plethora, disambiguation, unless they are absolutely needed to express your idea. Only use “complex” words when you are sure your audience is totally comfortable with it, and not just because you want to impress your readers. You may end up putting them off. When editing, try to replace “big” words with simpler ones and make it less wordy. Even with business emails, we see a lot of these nice-sounding phrases that are meant to make it sound really “formal”. I don’t know about you but it sure does put me off. Consider replacing, “In view of our recent correspondence, it has come to our notice…” with “We noticed after our last discussion that…” Keep it simple and sweet.
Use spellcheckers – but don’t rely on them: Whenever you are typing and you notice a red or blue line under a word or sentence, don’t ignore it. Part of the editing process also involves checking out those errors that your spellchecker picked up. Although there are not failsafe, they can help you to pick up a lot of your basic errors (Tip: Avoid writing sentences in all caps so that your spellchecker can proofread them for you). But beyond the basic ones provided by your writing software, there are more sophisticated ones available online. I have tried PerfectIt and Grammarly and I can attest that they are very reliable. I like them also because as conventions in the language change, they also update their proofing tools. Use them but remember to proofread again after.

When all is said and done, you can now ask a fresh set of eyes to review your work for you. Here’s additional final advice for you: drop the emotions when editing. Don’t be afraid to remove, cut out, make major changes or rewrite entire books, if it will make the work better. Like one person said: “Your first draft is most often trash.”

We hope this was useful. Catch us next time for another exciting lesson.

Ghana pushes ahead with efforts to reduce emissions from deforestation

September 11, 2020

Ghana is making significant progress toward the sustainable management of cocoa forest landscapes, boosting livelihoods and addressing the impacts of climate change

Ghana has received an advance payment of US$1.3million out of a US$50million agreement with the World Bank’s Forest Carbon Partnership Facility for results-based payments for reducing emissions from deforestation and forest degradation (known as REDD+).

The provision of this advance payment was included in the programme contract that was signed last year.

The funds will be used for the Ghana Cocoa Forest REDD+ Programme (GCFRP) focused on cocoa forest mosaic landscapes in seven regions within the high forest zone.

This emission reductions programme is anchored on the country’s Nationally Determined Contributions (NDCs) to the UN Framework Convention on Climate Change (UNFCCC).

As part of the programme’s agreed plan, the advance payment will be received by the Forestry Commission, which houses the National REDD+ Secretariat, and will fund activities such as livelihood support, trainings, reforestation and enrichment planting in the programme areas, multi-stakeholder/multi-sectoral engagement, and essential programme coordination costs.

The financing is especially timely, given the current COVID-19 situation, for Ghana to maintain momentum with this initiative and to ‘build back greener’.

“This programme is an important vehicle for effective and successful implementation of both government and private sector commitments under the Cocoa & Forests Initiative, which together feed into the overall forest sector contributions for Ghana’s international climate targets. This advance payment is vital to catalyse the programme’s implementation efforts,” said Kwaku Asomah-Cheremeh, Minister of Lands and Natural Resources.

“This emission reductions programme is a unique public-private partnership between cocoa companies, traditional authorities, farmers, community members, Ghana Cocoa Board and the Forestry Commission among others. It represents a pilot model for sustainable sourcing of cocoa in rapidly growing economies, while reducing emissions from deforestation and forest degradation and creating alternative and additional livelihoods. The Forestry Commission is therefore rallying the support of all stakeholders and beneficiaries to achieve successful implementation,” said Mr. John M. Allotey, Chief Executive of the Forestry Commission.

The programme area, which spans nearly 6 million hectares, is home to 12 million people and includes 1.2 million hectares of forest reserves and national parks. The programme will promote several environmental benefits – such as preventing soil erosion and protecting water resources through sustainable land management practices.

It will reduce further deforestation of natural forests and improve carbon sequestration through shade cocoa rehabilitation, enrichment planting and intercropping. It will also support social benefits that provide farmers and community members with potential additional income on a sustainable basis; and plantation activities like nursery operations, planting, forest management and protection which will increase employment opportunities. During the six-year lifetime of the GCFRP, as the results-based payments for verified emissions begin to flow to Ghana they will serve as an ongoing incentive for the diverse stakeholders participating in this programme, and will be shared in accordance with the inclusive benefit-sharing plan.

Stakeholder engagement around implementation is critical for success of the programme. Building on support provided by the advance funding, results-based payments for emission reductions will be made after rigorous third-party verification. Ghana has finalised the methodology for monitoring deforestation and is in the process of preparing its monitoring report for the first independent verification, expected to take place in 2021.

“The GCFRP positions Ghana as being among the first countries globally to demonstrate how improved governance, inclusive participation, collaborative forest resources management and sound agro-forestry practices in a commodity-driven landscape can work together to deliver real, verifiable and ambitious climate action while building ecosystem and livelihood resilience,” said Ms. Roselyn Fosuah Adjei, Director for Climate Change and REDD+ National Focal Point at the Forestry Commission.

“The advance payment can serve as catalyst for Ghana’s further progress in conserving forests and reducing emissions,” said Ms. Agata Pawlowska, the World Bank’s Operations Manager in Ghana. “We are confident Ghana will continue to liaise with stakeholders and the private sector in this unique programme that will support more sustainable cocoa production, increased incomes for cocoa farmers, and climate co-benefits through minimising its deforestation and forest degradation footprint.”

Cocoa farmers get help to increase yield amid price fall

September 11, 2020

Federated Commodities, in partnership with Beyond the Beans Foundation, has rolled out sustainable programmes which seek to encourage cocoa farmers in parts of the Eastern Region to produce more – despite the coronavirus pandemic inclining prices on the international market to fall.

In February this year, the cocoa price per tonne on the London Futures averaged £2,003. However, as of September 8, 2020, the price had fallen to £1,716 per tonne. It is against this background that the two organisations have put the cocoa farmers, who are based in Suhum, Anyinam and Tafo, into sizeable groups in order to provide them with enhanced training on good agricultural practices; offer them financial advisory services; facilitate access to credit and input loans for them, and further provide them with social welfare and health services.

This, according to the Managing Director of Federated Commodities, Mrs. Maria Adamu-Zibu, will encourage the farmers to be efficient with production despite falling cocoa prices.

“At the international level, prices are falling. So once the prices fall, it will mean farmers can’t sell at high prices – and the higher the prices, the more farmers are encouraged to produce more. But if the prices are not good, it will obviously discourage the farmers. So whatever we are doing to help the farmers is to encourage them to keep producing more, even if the price keeps going down,” she said.

She further stated that beyond purchasing the beans at a good price, her outfit is providing training for farmers to help them adopt sustainable methods of production which will increase yield.

“We know the challenges farmers go through to even get a bag of cocoa. So, we have a sustainability team that goes to the farmers to train them on the right agricultural practices: which include the right kind of beans to grow; the right chemicals to use; and how and when to use them among others, so as to improve yield,” she said.

There are increasing concerns among international buyers about child labour in Africa and other developing countries where raw materials are sourced from. For this reason, two big international confectionary companies, Ferroro and Mars, through Beyond the Beans Foundation have provided funding of GH¢240,000 each to purchase cocoa from the farmers who are using sustainable means of production at GH¢150 per bag.

Country Representative for Beyond Beans Foundation, Marjolijn Ighekelaar, said her outfit seeks to address the issue by both sensitising and training farmers on the need to use methods of production that will not harm the environment and also protect children’s rights.

“We seek to achieve sustainable cocoa marketing in Ghana, with higher yields and resilient farmers who have their choice of a free market to deliver sustainable cocoa to, and getting the help and training they need to achieve that goal.

“We are in partnership with Federated Commodities to do sustainable trainings for certified cocoa, as well as making sure that at the end of the day there is a premium for the cocoa. We also educate farmers on child labour and do monitoring to ensure that they are complying.

“We also train them on climate-smart cocoa, which provides knowledge on how to preserve the environment. We are also doing projects on land tenure systems to help them secure lands legally,” she said.

NBSSI denies charging fees for CAP BuSS

September 11, 2020

Executive Director of NBSSI, Mrs. Kosi Yankey-Ayeh.

The National Board for Small Scale Industries (NBSSI) has vehemently denied charging applicants any fees before disbursing the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS).

It has therefore urged the public to treat such reports with contempt, cautioning applicants against the payment of fees or charges to any intermediary – be it an Association, group or individual.

These and more were contained in a press statement issued and signed by the Executive Director of NBSSI, Mrs. Kosi Yankey-Ayeh.

The statement further emphasised that NBSSI has not engaged any group, association or individual to discuss, collect or facilitate the collection of any charges on its behalf.

The statement specifically said the Board has engaged GNACOPS on a number of issues and even queried them about the 4 percent charges, and maintain that the charge on GNACOPS members is wrong and unacceptable.

By this, the general public is hereby being requested to disregard any claims by GNACOPS that the Board is demanding an extra 3% fees in respect of the loans being granted under the CAP BuSS from their members.

“Applicants are therefore cautioned against the payment of fees or charges to any intermediary, be it an association, group or individual. We encourage applicants to direct all concerns and questions to the NBSSI Public Relations Unit. The public is also encouraged to report any person engaging in this act to the nearest police station,” the statement added.

The statement comes on the heels of media reports and queries by some applicants that some trade and business associations are requesting fees from members in order to access the soft loans.

The GH¢600million CAP BuSS support for Micro, Small and Medium Enterprises (MSMEs) is part of government’s post COVID-19 economic recovery interventions. CAP BuSS is being administered by NBSSI and offers the ‘Adom’ micro loans and ‘Anidasuo’ soft loans, as well as some level of technical support for MSMEs in the much-needed economic resurgence.

It has an interest rate of 3 percent, a one-year moratorium and repayment term of between 2-3 years.

Disbursement of the Fund is ongoing across the country. The CAP BuSS was launched on May 19, 2020 by President Nana Addo Dankwa Akufo-Addo.

Editorial : WASSCE battles rogue websites and WhatsApp groups

September 11, 2020

The West African Examinations Council (WAEC) is mounting a spirited defence about allegations of cheating that occurred during the recent WASSCE examinations. Indeed, they argue that it is premature to make any suggestion of cheating as that assessment can only be conclusively made after the papers have been marked.

WAEC has described several reports of widespread leakage of examination questions and answers on social media platforms as false. Head of National Office (HNO) of WAEC, Wendy E. Addy-Lamptey explained that the thing that can tell us the truth as to whether cheating has gone on or not is the statistics.

Bodies including the National Union of Ghana Students (NUGS) and National Association of Graduate Teachers (NAGRAT) have expressed their displeasure over the several reports of leaked papers – of which some have been admitted by WAEC – affecting the credibility of the exams.

We believe not only these bodies that have a stake in education are worried, but the populace as a whole will be disturbed by such developments with many calling for stringent measures to deal with it.

Mrs. Addy-Lamptey emphasised the stress the council is going through due to the activities of rogue websites and WhatsApp groups.

“Prior to dates set for the various papers to be written by candidates, some of these sites predicted questions and topics, others uploaded pictures of past questions.

Also, some managed to obtain snapshots of the actual question paper after the start of the examination, forwarded the same to be worked out and sent the solutions to candidates thus creating the desperate need for some candidates to send their phones to the examination hall to receive solutions.”

Digital dishonesty is part of the digital world and as the world moves more and more towards a digital environment, such occurrences are expected. Cybercrime is a challenge to the banking sector, among others, that is increasingly going digital. Banks only have to improve their surveillance and vigilance and we believe the same portends to rogue websites and whatsapp groups.

It is good that WAEC has come to clear the air on this worrying trend that could compromise the institutions’ integrity. The wrong impression would have been created had they not pointed to where the problem stems from.

Even as we move towards a digital economy, we also have to be a step ahead of the throes of cybercrime.

Mining communities denied royalties for two and half years – GHEITI

September 11, 2020

The Ghana Extractive Industries Transparency Initiative (GHEITI) 2017/2018 report has uncovered that disbursement of mineral royalties to communities affected by mining activities left a two-and-half-year gap unpaid and unaccounted for.

According to GHEITI, data gathered from the Office of Administration of Stool Lands (OASL) indicated that the last transfer of mineral royalty receipt to communities impacted by mining was made from payments by mining companies in the period April to June 2014.

Ordinarily, when disbursement was to resume in 2017 it was expected that payment would continue from where it left off (June 2014). However, it was observed that the first payment in 2017 was made from payments by mining companies between January and April 2017.

This deviation period, June 2014 to January 2017, is approximately two and half years of non-payment of mining royalties – and GHEITI is urging the mining communities and the OASL to keenly follow-up on the situation and ensure that any lost revenue is recovered, because mining activities took place extensively during that period.

The report also uncovered a varying applicable slide in investment stabilisation agreements for different companies in terms of paying royalty rates. For instance, in an event of gold price reaching US$1,750, Goldfields is to pay royalties at four percent (4.0%), while AngloGold Ashanti would pay 4.5 percent as the others pay five percent.

The GHEITI is therefore recommending that there should be applicable rates for companies with stability agreements in order to ensure equity and a level playing field; so that if company ‘A’ is paying 4.5 percent, company ‘B’ will also pay same gold price constant.

The Stability Agreement (SA) is an arrangement under the Mineral & Mining Act 2006 (Act 703) Section 48 that provides extractive companies up to 15-years recovery period to pay back their investment; and during this period, the companies are not bound by the flat five percent royalty rate.

Co-Chairperson of GHEITI, Dr. Steve Manteaw – speaking at media workshop on the newly released 2017, 2018 GHEITI report on the Mining Sector – indicated that if citizens do not open their eyes to scrutinise how revenues from extractives are used for development projects, the state will be short-changed by some influential individuals for personal interest.

He further stated that the 15-year recovery period given to mining companies in the stability agreement should not be a blanket agreement, but should be company-specific and tied to the payback period; so that if the company can recover investment within five years, there shouldn’t be any need giving the company fifteen years as it ends up short-changing the state.

COVID-19 and sovereign wealth funds: What does the future hold?

September 11, 2020

The role that many sovereign wealth funds (SWFs) play in national economic policy has changed dramatically as a result of the coronavirus pandemic, giving rise to questions about their future.

The IMF predicts that the global economy will contract by 4.9% this year, down from growth of 2.9% in 2019, while the World Bank has forecast a fall of 5.2% in global GDP, the worst contraction since the Second World War.

With national economies suffering from revenue shortages, and populations in need of additional government support to mitigate the impacts of the crisis, SWFs have in many cases seen their roles transformed.

As a result of reduced income, many governments have been tapping SWFs to help balance budgets and provide stimulus to businesses or households.

This development has changed the conventional wisdom surrounding SWFs, which have combined assets estimated at around $6trn globally.

Before the pandemic, the funds were seen as having limited – or a total lack of – liabilities. However, COVID-19 has seen SWFs called on to meet the implicit liabilities associated with economic shocks.

Among some SWFs, there is a growing realisation that they are no longer standalone institutions, but rather fiscal policy tools that are fully integrated into the macroeconomic management of their respective countries.

This shift has also brought about significant challenges for SWFs as they adapt to the new economic environment.

For commodity-based funds, many of which are underpinned by significant hydrocarbon investments, the reduction in economic activity associated with Covid-19 has combined with persistently low oil prices to create twin challenges.

Meanwhile, for funds primarily based on trade surpluses, the deceleration in global trade and subsequent logistical and transport challenges have created similar hurdles.

Selling assets

COVID-19 has seen many of the less-liquid SWFs forced to offload assets to generate cash.

The trend is expected to be particularly prevalent in countries with a heavy reliance on oil revenue.

For example, in Norway, where the government expects net cash flows from petroleum activities to fall by 62% this year to the lowest level since 1999, the country is expected to withdraw some $37bn in assets from its SWF, more than four times the previous record of $9.7bn in 2016.

This development is also expected to affect the Middle East, where funds will be called on to fill fiscal deficits, which Fitch expects to constitute between 10% and 20% of GDP this year.

For example, in Abu Dhabi, where the deficit is forecast to total 12% of GDP, the ratings agency expects a $20bn drawdown on sovereign savings, while in Oman, tipped for a 19% fiscal deficit, analysts say as much as $8bn could be withdrawn from its SWFs.

In light of this, JP Morgan estimates that SWFs in the MENA region could dump up to $225bn in equities this year.

Aside from simply selling off assets to pay for budgetary spending, some SWFs have been called on to make other forms of investment.

In June Temasek, Singapore’s SWF, recapitalised domestic shipbuilding and repair conglomerate Sembcorp Marine for $1.5bn. This came after the fund pumped $13bn into flag carrier Singapore Airlines.

This investment is a prime example of the increasing attention SWFs are paying to their home markets since the outbreak of the pandemic. While most investments remain international, domestic deals are increasing in size and frequency.

According to the International Forum of Sovereign Wealth Funds (IFSWF), domestic deals accounted for 21% of the total value of SWF investment in 2019, with this trend increasing over the past six months.

Opportunities amid disruption

But while some funds have sought to offload assets, others are looking to take advantage of lower share prices by increasing investment during the pandemic.

Among them is Saudi Arabia’s Public Investment Fund (PIF), which – despite the downturn in the global hydrocarbons industry and its stated goal of spurring diversification – has recently made investments in international energy giants.

In April the PIF acquired around $1bn in stakes in European energy majors Royal Dutch Shell, Eni and Total, which was followed up by a $200m investment in Norway’s Equinor.

While the investment in energy may have gone against the expectations of some analysts, the fund also acquired stakes in other sectors. This included an 8.2% stake, valued at $369m, in US cruise ship operator Carnival, and a $300m investment in live events company Live Nation.

Despite the difficult environment, the PIF is not the only active investor among SWFs. According to data from capital market company PitchBook, SWFs had poured $17bn into venture capital companies in the first half of the year, exceeding the 2019 full-year levels.

Chinese tech companies Tencent and Kuaishou were both significant beneficiaries, while Abu Dhabi’s Mubadala put $3bn into Waymo, Alphabet’s self-driving technology wing.

Among some funds, there has been a broader shift towards tackling issues related to the pandemic.

“We reshuffled our priorities based on Covid-19,” Ayman Soliman, CEO of the Sovereign Fund of Egypt, told OBG. “We looked at the issues that were emerging in the region – food security, medical security and medical supplies – and realised that these should be our top priority.”

Looking ahead

Although it can be difficult to assess the losses accrued by SWF portfolios since the outbreak of the pandemic – given the opaque nature of their investments – in April JP Morgan estimated that funds would suffer total equity losses of around $1trn as a result of the virus.

However, this recent contraction seems to be accelerating a pre-existing trend that has seen the amount of equity invested by SWFs fall from $54.3bn in 2017 to $35bn in 2019, according to the IFSWF.

In a report released in August, Bernardo Bortolotti and Veljko Fotak from the Sovereign Investment Lab, along with Chloe Hogg from the London School of Economics, wrote that “the golden age of SWFs is over”.

“Declining oil prices, mounting protectionism, and increasing barriers to international capital flows have halted the spectacular rise of SWFs of the last two decades. The double whammy of the COVID-19 shock and of the new macroeconomic reality represents a quintessential challenge for an industry,” the trio wrote.

“Yet, with $6trn under management, SWFs remain major players in global finance and have the potential to mitigate some of the worst financial consequences of the current crisis.”

As countries recover from the economic recession, recent developments suggest the funds will be seen as a key tools in building resilience against future economic shocks.

Credit: OBG

Agyapa Royalties Transaction: Finance Ministry engages Social Partnership Council, FBOs

September 11, 2020

The Ministry of Finance has held separate virtual meetings with the Social Partnership Council (SPC) and the leadership of Faith-Based Organisations (FBOs) as part of its stakeholder engagement and consultations to deepen the understanding of the Agyapa Royalty transaction.

The Social Partnership Council is made up of the Labour Unions, Ghana Employers Association and Government, represented by the Ministries of Finance and Employment and Labour Relations.

The FBOs include the Catholic Bishops Conference, the Christian Council of Ghana, the Ghana Pentecostal and Charismatic Council, the National Associations of Charismatic and Christian Churches and the Ghana Charismatic Bishops Conference.

A statement from the Public Relations Unit of the Ministry said the issues discussed included the nature and benefits of the transaction, ownership, transparency and domain of registration, initial valuation, future prospects, as well as the need to continue to engage with all stakeholders to get their buy-in and support.

In his opening remarks, Ken Ofori-Atta, Minister for Finance, provided the background to the Agyapa Programme and the need to take advantage of the current all-time high gold prices despite tighter financing conditions due to the Covid-19 pandemic.

He highlighted the weaknesses in the current framework for managing the country’s mineral royalties, which does not allow for the targeted use of and accounting for mineral royalties.

He also explained that the current framework limited the benefits that Ghana derived from its mineral resources.

He pointed out that despite centuries of mining and exporting of gold, the mining communities had not seen or benefited in a material way nor had there been any major development in these areas.

The Minister explained that the Minerals Income and Investment Fund (MIIF), which owned Agyapa, “is 100% Ghanaian, Agyapa Royalty is a 100% Ghanaian owned entity until it is listed on the London and Ghana Stock Exchanges, where government plans to sell up to 49% shares via an IPO”.

The shares would be dual listed on the London and Ghana Stock Exchanges.

He explained that registering the entity in Jersey, the Channel Islands, was very well intentioned given that a number of international companies, including Tullow and Vodafone, that were listed on the London Stock Exchange were all registered in Jersey.

He said a listing on the London Stock Exchange would ensure that Agyapa Royalty would “abide by the highest standards when it comes to corporate governance and reporting requirements, amongst others”.
Mr Charles Adu Boahen, a Deputy Minister of Finance, in a presentation, gave an overview of the Agyapa Royalty transaction and how Ghana stood to benefit from the transaction and walked the attendees through the process and work that had gone into structuring the transaction from early 2018 to date.

The participants said they were satisfied with the explanation of the transaction and urged Government to ensure that the initiative benefitted all Ghanaians, especially those in mining communities.

They also said the transaction was a good one and beneficial to the people of Ghana.
The Members of the Council and Faith-Based Organisations also advised Government to broaden the engagements and consider providing the presentation in local languages so that more Ghanaians could understand it.

Credit:GNA

Food and beverage producers urged to adopt safety and hazard practices

September 11, 2020

Food and beverage companies have been urged to incorporate safety and hazard measures so as to ensure the health and safety of the final consumer.

Speaking at a two-day training in Accra on ‘Hazard Analysis and Critical Control Points (HACCP)’, Johnson Opuku-Boateng, Director, Business Development Services at the Association of Ghana Industries (AGI), said food and beverage companies, particularly the micro, small and medium ones, were still behind in terms of hazards and safety measures.

“In terms of food safety and hazards, I wouldn’t say we are doing well, except for the multinational companies,” he said. “When you look at the micro, small and some of the medium companies, they do not have the requisite expertise to handle food safety the way it should be handled.”

HACCP, he explained, is the process of identifying, evaluating and controlling hazards that are significant for food safety. “This process will help them identify all the hazards in the process, right from the raw material to the production process, as well as how to control these hazards to ensure consumer safety.”

He said the training, organised by AGI was therefore to help build the capacity of companies to incorporate standard safety and hazard practices into their operations. He said similar sensitisation programmes had been held across the various regions, with the event in Accra been the final phase of the programme.

The training falls under the Obaasima Food Fortification project, implemented by AGI and Ghana Standards Authority and sponsored by the Bill and Melinda Gates Foundation, German Development Cooperation and Sight and Life.

The training in Accra saw about 50 people representing about 35 companies benefit from the exercise.

The participants were taken through topics such as good maintenance practice, how to work with suppliers to get good input material and factory layout, among others, with Eurydice F. Aboagye of the Food Safety Training Centre of University of Ghana and Mr. Opoku-Boateng as resource persons.

With proper implementation of the HACCP model, he said food and beverage companies could substantially reduce poisoning and produce food that is safe for human consumption.

Forestry Commission chides chiefs & Assembly men for abetting deforestation

September 11, 2020

The Forestry Commission has expressed worry over selfish and unlawful conduct by opinion leaders in forest-fringe communities that undermines efforts to control the rate of forest resource exploitation in the country.

According to the Commission, some chiefs and Assembly members have been taking illegal levies from chain-sawing operators as well as shielding the nomadic perpetrators in their communities. A practice it [Forestry Commission] laments, thwart attempts to discourage the activities of illegal lumbering and logging – major contributory factors to depletion of forest cover.

The Bechem District Manager of the Forest Service Division (FSD) of the Forestry Commission, Dominic Oteng who raised the issue, cited a case study wherein the Traditional Authorities and Assemblymen at Bomaa in the Tano North Municipality of the Ahafo Region mounted separate barriers, levying each loaded lumber truck GH¢50.

He said: “Such unlawful behaviour makes a community like Bomaa a safe haven for illegal lumber operators. A charge of GH¢50 is peanuts for them, and therefore opens the floodgates for many others to join the destruction of the forest. Our opinion leaders must rather collaborate with FSD and security forces to flush out these perpetrators in the communities”.

The Bechem FSD Manager further mentioned illegal farming in forest reserves, illegal mining and perennial bush fires as other human activities fuelling forest depletion in the country. He appealed to all and sundry to put their shoulders to the wheel in the fight against the menace in order to safeguard the country’s remaining forest cover.

He was speaking at a sensitisation workshop held at Konkontreso for members selected from forest-fringe communities in the Bechem Forest district of the Ahafo Region. The engagement among others sought to sensitise local people about the socioeconomic and health importance of protecting forest reserves by ensuring sustainable use of forest resources.

The participants were drawn from Konkontreso, Acherensua, Maaban and Akwasiase. The stakeholder sensitisation workshop formed part of a campaign for sustainable management and use of Ghana’s forest reserves. It was orgainsed by an NGO – Livelihood and Environment Ghana (LEG), with financial support from Green for Growth Fund (GGF) and WOMADIX Fund.

Deforestation has been an unabated canker, increasingly sweeping away the country’s forest reserves. According to the Forest Investment Programme Report (FIP, 2014), Ghana’s forest reserve which was estimated at 8.3 million hectares in the 1900s has reduced drastically by 7.0 million ha, remaining with only 1.3 million ha.

The Head of the Centre for Climate Change and Gender Studies at the University of Energy and Natural Resources (UENR) in Sunyani, Daniel Akoto Sarfo, said the alarming negative impact of climate change on the environment, especially on farming activities, should be a wake-up call for more pragmatic measures to stem deforestation.

He noted that formulation of policies and forest-inclined programmes are not enough to defeat the social canker, indicating that: “Forest protection is a shared responsibility, and therefore it’s imperative for duty-bearers to educate the public to appreciate the need for all to be ambassadors of forest protection”.

The Executive Director of LEG, Richard Adjei-Poku, said the campaign will be extended to other forest regions – Ashanti, Western North, Eastern and Central – to increase the knowledge of forest-fringe community members across the country. He added that well-educated forest-fringe communities, and effective collaboration among the Forestry Commission, academia and civil society organisations, will advance the goal of sustainable forest resources management – hence the campaign.

Feature : The Baobab Tree; The majestic tree of life in the dry Savannah

September 11, 2020

In Africa, especially in the Savannah region where the weather is dry and severely hit by climate change conditions, making it difficult for many trees to survive or thrive – most especially during the dry season, the Baobab Tree survives, thrives and also serves as a source of life for many living creatures.

Background

The Baobab Tree with its scientific name ‘Adansonia digitate’ is known by many different names. While some call it the monkey-bread tree, lemonade tree, upside-down tree, others in Africa call it the iconic tree, the ‘Magic Tree’ or the ‘Tree of Life’. This can be attributed to the unique nature of this tree species.

It is very significant to point out that apart from the Baobab tree’s ability to withstand climate change and drought, it has the potential of absorbing and storing water during the rainy season in its large trunk stem; and produces concentrated nutrient-filled fruit as well as provide food, water and shelter for humans and animals during the dry season.

Locations

Though it can be found in few countries outside the continent, the Baobab tree – which can grow to a height of about 5 to 30 metres and trunk diameter of about 7 to 11 metres – grows in most African countries including Ghana, and can live more than 1,500 years.

Every part of it is valuable, ranging from the bark, trunk, leaves and fruit to the seeds, and has lots of economic benefits. It is therefore not surprising that it is referred to as ‘the Tree of Life’.

Traditional and cultural significance

Aside from the above-mentioned significant values of the tree, most African communities including Ghana – to be specific, the five regions of the north – attach some spiritual importance and cultural values to the Baobab tree.

A typical example is that most communities in the Upper East Region have their ancestral shrines in a grove of baobab trees where they perform sacrifices to their ancestors.

“Many of the Frafra communities in the Upper East Region consider the Baobab tree (Tuah) as their god and they believe their ancestors dwell in them; where they often go to offer sacrifices,” Mr. Atanga Adoor, one of the traditionalists from the Nayorigo community in the Bongo district, told this writer.

Besides the traditions and cultural values, the Baobab is intriguing in the sense that during funeral performances – especially the final funeral rites of elders – the baobab, most especially the seeds, are a significant part of the food preparations; and in some Frafra communities, the rites cannot be completed without use of the baobab seeds at certain stages, while the pulp is mostly used as fermented water to prepare food like traditional ‘Tuozaafi’ and ‘Zoom-koom’.

Food, nutrition and health benefits

The Baobab tree has food and nutritional benefits far more than one can imagine; and scientists have it that it is one of the most nutrient-dense foods in the world – ranging from its leaves known as ‘kuka’ in Hausa, fruits, to the seeds – and even the bark, which is used for making fibre.

In an interview with the Ghana News Agency, Dr. Gustav Mahunu, a Food Scientist at the University for Development Studies, Nyankpala Campus, Tamale, said the leaves which can be used fresh or dried are rich in iron and other vitamins, and commonly used to prepare soup.

“The dry pulp of the fruit, after separation from the seeds and fibre, is eaten directly mixed into porridge or milk. The tree also provides sources of fibre, dye and fuel; while the seeds can be used as a thickener for soup, may be fermented into seasoning, roasted for direct consumption, or pounded to extract oil which is good for consumption and the cosmetic industry,” he said.

Aside from the above-mentioned benefits attached to the Baobab tree, its fibre is also good for the brewing industry because it acts as a catalyst for many of the drinks and can be used for drink production in the manufacturing industry.

In addition, baobab pulp from the dry fruit has a high content of vitamins.
In fact, research conducted has shown that Baobab powder has four times as much vitamin C as orange and banana, and becomes the perfect natural immune system booster especially in the era of novel coronavirus disease spread.

A large percentage of honey in the Upper East Region is produced from the Baobab tree, as bees take seed water (nectar) which is very sweet to make honey.

Market accessibility and foreign exchange

Apart from its food and nutritional value, the Baobab is noted for its potential to empower rural households and contribute to socioeconomic development of the nation.

One of the few organisations that is making efforts in the area of promoting and tapping potentials of the Baobab is the Organisation for Indigenous Initiatives and Sustainability (ORGIIS) – an environment-focused organisation that is into processing Baobab powder in the Kassena-Nankana and Builsa areas of the Upper East Region for export.

Mr. Julius Awaregy, the Executive Director-ORGISS, in an interview with GNA explained that the NGO was into processing baobab fruit into powder for export.

He said, annually, the NGO is able to export an average of 70 metric tonnes (70,000kg) of baobab powder to the United Kingdom (UK) and Burkina Faso, while others are being sold locally.
“We cannot even meet the market demand, especially from the European world, because in the developed world they realise the nutritional value of Baobab and the demand for it is high.

“When COVID-19 broke out, I had to send three 20-foot containers to UK for three consecutive weeks. We got demand from Aduna Company Limited in the UK to produce 80 metric tonnes of Baobab powder in 2019 and we were able to do about 75 metric tonnes; so we are short by five metric tonness, which means we have more demand than we can supply.

“We have one company in South Africa called Dollar that is using it to make children’s food: mixing baobab with wheat, sorghum and maize to prepare children’s food. It is very good for children as vitamins are very important for the development of children,” he said.

According to statistics from the Ghana Export Promotion Authority, the export of shea nuts and oil amounted to US$14,103,332 and US$64,785,768 respectively in 2018; however, investing and promoting Baobab would not only create jobs for the Ghanaian youth but also rake-in more foreign exchange for the country than the shea.

Employment creation and economic empowerment

According to the Executive Director of ORGISS, employment opportunities have been created for the vulnerable in their operational areas and are making an impact on the livelihoods of rural dwellers.

“Every year we have 238 women employed for a period of six months from December to May, just working on Baobab processing in our company; and we pay each GH¢15 daily and they work six days in a week.

“My office employed 15 staff to train and build the capacity of women on sustainable collection of the Baobab fruit, so that they don’t collect all the fruit abnd avoid regeneration problems as well as quality processing. And we are also working with about 1,500 women who collect the baobab fruit.”

Mr. Awaregy said 28 women are employed to clean the fruit every day for six months and are paid GH¢5 per bag; and the company processes averagely 7,000 bags of 38kg. Those women who do the wild picking and collection are paid GH¢50 for 38 kilogrammes of Baobab fruit.

He said women have been trained in Baobab juice preparation, while the company engages not only two transport companies but also about seven loading boys who are paid GH¢2 for each bag.

Increasing Baobab plantations

As part of contributions toward increasing the tree population, ORGISS Ghana is into the nursing, planting and grafting of Baobab trees.

In 2019 ORGISS produced 25,000 seedlings of which 15,000 went to Burkina Faso; and in 2020, 17,000 seedlings have been produced while farmers from communities and households in the Kassena-Nankana Municipal, Kassena-Nankana West, Builsa North and Builsa South and the Nahouri province in Burkina Faso are supported to grow the Baobab trees.

“When you plant a Baobab tree it takes between 10 and 15 years to mature when not disturbed; but we want to make it fruit by seven years, so we started four years ago to nurse and graft – and we have grown some in one of our communities,” he added.

Recommendations

Despite its great potential to create decent employment for improving livelihoods of rural communities, not much has been done by government and other stakeholders to harness potentials of the Baobab. Not even the Ghana Export Promotion Authority has considered it as a valuable Non-Traditional economic export.

It is undoubtedly clear that when the right investment is made to harness the potentials of Baobab it will propel great economic growth and contribute to attainment of the SDGs, particularly goals one, two and three.

To achieve the country’s industrialisation agenda and Ghana Beyond Aid, there is a need for entrepreneurial diversification in the area Baobab because ORGISS produces and exports it in its raw form. This means that companies can be established to add value to the powder by processing it into finished products, such as juice and children’s food among others.

The demand for Baobab seedlings is high abroad, particularly Burkina Faso.
Ghana government through the Ministry of Food and Agriculture, the Ministry of Science, Technology and Innovation and their departments could invest in the production of Baobab seedlings and export them to these countries.

Due to its high demand in Burkina Faso leading to over-harvesting, the government of Burkina Faso has placed a ban on wild harvesting of Baobab; and therefore they troop into Ghana through the borders, particularly northern borders, to harvest trees – thereby reducing their population.

There is therefore urgent need for government to enact a law that protects the economic tree from being overexploited, while encouraging and supporting farmers to plant more Baobab trees to increase the tree population.

The Ministry of Trade and Industry through the Ghana Export Promotion Authority (GEPA) could facilitate support and market opportunities for the sale of Baobab powder and Baobab-related products; and there could be the establishment of a Baobab Processing Factory in the Upper East Region as part of government’s One District, One Factory agenda.

Credit : GNA

Divine Komla Vulley’s thoughts …Improving Teacher Motivation

September 11, 2020

… a panacea for teacher commitment and performance

In recent years, teacher motivation in Africa and South Asia are the most debatable topics (Tao, 2011; Rusu & Ayasilcai, 2013; Huber, Fruth, avila-John & Ramirez, 2016). However, previous study has indicated “that high percentage of teachers working in government schools in developing countries are poorly motivated and as a result causing low morale and job dissatisfaction” (Cheptoek, 2000). Another study has established that “a motivated and happy staff is a productive staff” (Manzoor, 2012: 9). But, the major question is how to improve worker motivation to maximize productivity/performance?

From the literature reviews, reasons why workers are motivated and demotivated and also satisfied and dissatisfied have been unearthed. Motivation of individuals differ from company to company and from individual to individual (Dorothea, 2015).

Teacher motivation is also vital for the attainment of the school’s goals and objectives. It has been indicated that teachers can perform best for school effectiveness, provided they are well motivated (Abugre, 2014).

How to improve teacher motivation and job satisfaction

Studies have shown (e.g., Dorothea, 2015; Groyer & Wahee, 2013) that if teachers are made to partake in the operational targets and plan, they will appreciate and work toward the achievement of the organisational goals. Similarly, it has been suggested that employers should involve staff in decision-making of the organisation since collective decision-making leads to collective responsibility.

These writers have opined that any employee motivation programs should incorporate basic principles designed to help employees feel like they are part of a team and that workload must be distributed based on staff strength and capability. This, according to them, teachers will feel happy and motivated when more duties within their capacity are assigned to them. Kardam and Rangnekar (2012) suggest that there should be a mutual respect between administrators of schools and the teachers.

The school principals must know that they are dealing with enlightened colleagues and must respect their dignity. Nyarko et al. (2013) also noted that training programmes to equip teachers should be constantly organised that would keep them in tune with the current happenings in the industry.

It has been established for example (Shah et al., 2012; Tayfun & Catir, 2014) that efforts must be made to boost the self-esteem and or self-image of teachers and employees. According to Shah et al. (2012), it is the duty of the heads of schools to discover what makes the teaching staff to be happy since it is a vital step towards motivating the individual. One major barrier of motivation is ineffective communication, and motivation will improve when there is effective communication. Sheffield (2016) has recommended that heads of school must have the skill and ability to clearly communicate the school’s objective to teachers and other academic staff.

Leadership also plays a key role in motivating staff (Lussier, 2013). It has been recommended that school administrators should be seen to be a “servant leaders”, leaders who are not lords on the teachers (Rawung, 2012; Parastono, 2012; Lussier, 2013). Fearful teachers cannot work effectively. Therefore, it is imperative for the principals of the schools to create an atmosphere that is conducive for effective teaching and learning. It is necessary to motivate teachers by caring rather than by scaring.

Studies have shown that salary and wages in the form of pay and better conditions of service are one of the most important factors impacting on employee’s motivation (Coetzee & Stoltz, 2015; Ahmad & Rainyee, 2014; Rasheed, Aslam & Sarwar, 2010; Abugre, 2014). In the same vein, studies conducted by Zhila (2013), Akafo and Boateng (2015) reveal that better wages, salary and conditions of services would motivate employees and teachers to go extra mile.

An earlier study by Akyeampong (2009) indicated that money remains the most significant motivational strategy for motivating teachers in sub-Saharan Africa. It has been explained that as far back as 1911, Frederick Taylor and his scientific management associates described money as the most important factor in motivating the industrial workers to achieve greater productivity. Taylor advocated the establishment of incentive wage systems as a means of stimulating workers to higher performance, commitment, and eventually satisfaction. Money possesses significant motivating power in as much as it symbolises intangible goals like security, power, prestige, a feeling of accomplishment, and success.

It is recommended that working conditions of teachers should be improved. Teachers’ salary and other incentives should be examined holistically considering the nation building roles teacher play. Despite some improvement in pay in recent time especially the introduction of Single Spine Salary Scheme (SSSS) in Ghana for example, most teachers in the country are unable to meet their basic needs.

As a result, many of them are forced to find sources of income therefore making some of them leaving the classroom during the teaching hours. The agitation that newly posted teachers get their first salary after a year of posting must be strongly examined by GES and MoE. The absence of medical, accommodation and car loans allowances, better pension package bonuses, and end of service benefits should be critically addressed if GES is willing to retain experienced teachers in schools.

The writer works with Bank of Ghana (Banking Department)

[email protected]

0244-967729

1D1F: President inspects US$34m Amantin starch processing factory

September 11, 2020

President Akufo-Addo inspeacting Amanten Agro Processing factory — Photo: President Akufo-Addo inspecting Amantin Starch Processing factory

…. Operations start next month

The President Nana Addo Dankwa Akufo-Addo has inspected ongoing work on a US$34 million starch processing factory at Amantin, in the Bono East Region.

The tour of the Amantin Agro Processing Ltd, a wholly-owned Ghanaian company, formed part of the President’s two-day working visit of the Bono East Region. President Akufo-Addo stated that, when fully completed, the factory will be one of the most modernised and fully automated industrial starch factories in West Africa.

According to the promoters of the facility, the company is currently cultivating 14,000 acres of farmland as its own nucleus plantation, whilst supporting thousands of local farmers to cultivate over 40,000 acres of cassava under an out-grower scheme involving 15,000 principal out-growers.

The factory which is expected to create about 450 direct jobs at the factory floor, with more than 30,000 indirect employment opportunities, will be inaugurated next month. Additionally, the factory, with a production capacity of 300 metric tonnes of industrial starch per day for the first phase, and 600mt per day for the second phase, will significantly reduce the importation of industrial starch into the country and, thereby, reduce the pressure on the local currency.

“The product from Amantin Agro Processing Ltd is going to serve as a major source of raw material input for many processing companies in the food, beverages, pharmaceuticals and textiles industries of the country. This will go a long way to boost domestic industrial production and productivity. Furthermore, it will enhance the export of industrial starch into the global market,” the President said.

Commending management of the company for taking advantage of the 1D1F incentives introduced by this government in putting up such a magnificent industrial establishment, in what is a rural district in the country, President Akufo-Addo reiterated Government’s commitment to partnering with the private sector to establish similar modern factories, which would be globally competitive, and which would take advantage of the opportunities of the African Continental Free Trade Area (AfCFTA).

1D1F

Recounting the importance of the 1D1F initiative, President Akufo-Addo explained that raw material producing economies do not create prosperity for the masses, explaining that the way to that goal, the goal of ensuring access to prosperity, is value addition activities in a transformed and a diversified, modern economy.

The 1D1F initiative, amongst other programmes, under the Industrial Transformation Agenda of Government, is designed to transform the industrial landscape of the country, and build the capacities of domestic entrepreneurs and existing enterprises to produce high-quality products and services for both domestic and foreign markets.

Further, according to the President, “it seeks to create employment, particularly for the youth in rural and peri-urban communities, and, thereby, improve income levels and standard of living, as well as reduce rural-urban migration”.

Permit, licence delays hamper economy’s formalisation

September 11, 2020

Photo: Clara Kasser-Tee, a legal practitioner. Credit: Daily Ghana

A large number of small and medium-sized businesses remain informal not by choice but because their efforts to transition into the formal sector are frustrated by delays on the part of permits, licences and certificates issuing agencies.

These delays, in turn, to lead to corruption and high cost of formalisation, and because most small businesses, particularly locally owned ones, do not have the financial muscle to pay for the extra cost, they prefer to remain informal.

“For example, because of delays, you have to pay bribes and this adds up to the cost, so it makes the cost of setting up very expensive and we know that not everybody can afford to pay that extra amount to get a permit or licence. Invariably, if businesses cannot find the money to formalise, they will remain in the informal sector and it’s one of the reasons our informal sector is quite huge as compared to the formal sector,” said Clara Kasser-Tee, a legal practitioner.

Mrs. Kasser-Tee who is currently working as a consultant with the Private Enterprises Federation (PEF) on a project which seeks to help public permit, licence and certificate issuing bodies, including the Land Commission Ghana Standard Authority, Food and Drugs Authority, to implement up-to-date and workable service delivery charters, blame the inefficiencies on the absence of service charters – a public document that sets out basic information on the services provided, the standards of service that costumers can expect from an organisation.

“The impact of not having service charters has a trickle effect. It results in delays and the delays will trigger frustration that also triggers corruption,” she said, adding: “It results in lack of information and you know that when people are not informed, you can easily take advantage of them: people working in these agencies can extort money from them.”

Impact of delays on business success and ease of doing business

According to the Business Development Ministry, 75 percent of businesses in Ghana fail within the first three years and those that exceed three years do not go beyond 10 years of operation.

This, Mrs. Kasser-Tee noted, is partly due to the frustration that start-ups and small businesses face in their bid to obtain the requisite licences, permits and certificates when they are setting up or when they want to formalise their operations.

“It is usually Ghanaian businesses that suffer the most because they do not have the extra capital to go around bribing. So at the end of the day, they are not able to formalise, they are out of protection, and then eventually they lose out: it’s one of the reasons more than 70 percent of start-ups fail in this country,” she lamented.

Meanwhile, on the impact of the delays on ease of doing business, she said it has the tendency to erode gains made towards making Ghana the most business-friendly economy in West Africa.

She, however, noted that helping public agencies to implement service charters remains crucial. “It won’t just improve the ease of doing business, it will improve public perception of corruption and will also result in a change of mindset. We have looked at other jurisdictions and its one of the critical ways to be able to revolutionise the provision of service within the public sector.”

Way forward

To her, implementation of practical service delivery charters that are consistent with 21st-century business development is key, but to do this, she said there must be laws to compel permit, licence and certificate issuing entities to be responsive to the requirements of the private sector.

“To begin with, there is no law compelling them to implement it which then means that, whether they implement it or not, depends on the leadership at the time. The second point is whether they have funding to implement it, so these are the two key things.

The private sector knows the problems but somebody else is delivering the services; they don’t have control over the employees in the public sector. And I won’t be surprised if quite a number of employees in some of the agencies don’t even know what a service delivery charter is,” she explained.v

U.S. franchisors engage 20 Ghanaian investors

September 10, 2020

The first-ever virtual trade meeting, organized by the United States Commercial Service, of the U.S. Embassy in Accra, created the opportunity for some 20 local investors to interact with leading brands and franchisors in the US.

The three-day virtual trade mission, which ended in the week, is expected to help deepen the U.S.- Ghana trade relationship

The U.S. franchisors represented a cross-section of popular U.S. brand concepts such as business services, industrial cleaning services, fitness centers for adults, and fitness and learning centers for children.

U.S. Ambassador to Ghana, Stephanie S. Sullivan, at the commencement of the programme expressed her pleasure in welcoming U.S. franchises. She observed that these brands “bring successful business strategies and some of the innovative product lines and services for which U.S. businesses are known around the globe.”

The U.S. Commercial Service, as part of the virtual trade mission, arranged more than 30 meetings with Ghanaian investors via videoconference.

The U.S. Embassy Commercial Attaché, Hannah Kamenetsky said it was a very successful virtual trade mission, with enthusiastic participation from 20 Ghanaian investors interested in bringing U.S. brands to Ghanaian consumers.

She said they hope to follow this up with an in-person trade mission to Ghana when travel permits.

In a statement issued by the US Embassy after the meeting, it said “Increasing trade and strengthening the business relationships between the United States and Ghana is a top priority for the U.S. Embassy in Ghana.”

It also explained that the U.S. Commercial Service helps to facilitate two-way trade and investment between the United States and Ghana and provides timely, relevant, customized solutions to assist in these efforts.

Gold Fields donates ambulances to two hospitals at Tarkwa

September 10, 2020

Executives of Gold Fields Ghana Limited at the presentation to the Apinto Government Hospital and Tarkwa-Nsuaem Municipal Hospital

Gold Fields Ghana Limited has presented two brand-new fully-equipped Mercedes Benz ambulances to the Apinto Government Hospital and Tarkwa-Nsuaem Municipal Hospital in the Western Region.

The two ambulances cost US$248,000 and are to ensure good healthcare delivery for people of the area in which it operates.

Stephen Osei-Bempeh, General Manager of Gold Fields Ghana Limited (Tarkwa Mine), at the handing-over ceremony explained: “This is to demonstrate one of our core values; we made a promise to the good people of Tarkwa and we have delivered.

“At the sod-cutting ceremony for the reconstruction of Tarkwa and Abosso (TNA) Park into an international standard stadium last year, the MP – George Mireku Duker – made an appeal for Gold Fields to assist the Municipal Health Directorate with an ambulance to aid healthcare delivery. Alfred Baku, Executive Vice President and Head of Gold Fields West Africa, pledged to donate not one but two ambulances to the two government hospitals in Tarkwa,” he further explained.

Mr. Osei-Bempeh said this is just one of the many interventions by Gold Fields to improve healthcare delivery in the Municipality.

He urged hospital administrators to put in place a maintenance plan to ensure that the ambulances remain in good condition and serve the community for many years.

“We invest significantly in health because we believe that healthy people build a healthy nation. Since Gold Fields employs over 69% of its workforce from its host communities, providing health support to our communities simply means that we are taking care of our own,” he said.

He added further: “In line with our shared-value initiative, we will continue to complement government’s efforts in the development of our host communities”.

Mrs. Caroline Eshun-Otoo, Municipal Director of Health – Tarkwa-Nsuaem, said the ambulances will help to reduce the maternal and neonatal deaths which the Municipality has been fighting for some time now.

“This will enhance referrals to tertiary health care institutions when need be, and we urge all to continue observing all the protocols on COVID-19,” she said.

George Mireku Duker, Member of Parliament for Tarkwa-Nsuaem Municipality, was happy Gold Fields Company Limited has honoured the promise made to the area’s people.

He urged the beneficiary hospitals to maintain the ambulances very well.

MTN invests over GH¢100m in COVID-19 support activities

September 10, 2020

The CEO of MTN Ghana, Selorm Adadevoh, says impacts from the COVID-19 pandemic have proven to be more far-reaching than was anticipated at beginning of the year.

Mr. Adadevoh says the company has invested a lot of resources – estimated to cost around GH¢100million – to guarantee the safety and protection of staff and customers, and to support government in coping with the global pandemic.

Speaking at the 2020 edition of the Annual Media and Stakeholder Forum, the CEO of MTN Ghana announced that MTN Ghana, along with the MTN Ghana Foundation, has done a lot to make life more comfortable for its various stakeholders.

MTN invested about GH¢29million to provide the required measures to keep staff and the working environment safe. An additional GH¢72million has been spent on interventions which have impacted Customers, while GH¢6million has been spent on initiatives to support government.

Specific interventions carried out by MTN Ghana include:

Supply of PPE for all MTN frontline staff
Provision of relevant tools that enable about 90% of staff to work from home
Provision of 45 buses to transport MTN frontline staff to their work locations
Boosting Network resilience (50% increase in international bandwidth, 100 new sites); to support work from home, online school, entertainment and other digital activities.
Provision of Free access to over 200 educational websites for several educational institutions
Offer of Free MoMo P2P transfers up to GH¢100 daily from March till date
Provision of Free access (zero rate) to the Smart Workplace portal for government workers
Donation of GH¢5m worth of PPEs for frontline health workers and 4 PCR machines
Donation of digital equipment to Noguchi Memorial worth GH¢42,000; and
Distribution of 85,000 face masks to various hospitals and clinics nationwide
Two-month behavioural change campaign urging people to wear face masks (the Be Wise and Wear it for Me campaign).

Mr. Adadevoh also used the opportunity to confirm that MTN Ghana is on track to become a digital operator by the end of 2023.

The MTN Editors and Stakeholders Forum is held across the country annually to engage senior media practitioners and stakeholders in the business to share insights into business operations for the year and for the future.

COCOBOD cautions farmers against misapplication of agrochemicals

September 10, 2020

David Gyebi-Afriyie, Sankore Cocoa District Officer (right), presents items to Peter Adongo, Chairman of Agyerekrom Farmers’ Cooperative (left) while others look on

Ghana Cocoa Board (COCOBOD), the industry regulator, has once again raised a red flag over the menace of agrochemicals misapplication by farmers, indicating that the wrongful practice poses threats to sustainable cocoa production and productivity.

Over the years, the frequency of agrochemicals application, over- and under-use of pesticides and insecticides have been cancerous to cocoa production in the country.

The ripple-effects of the trend include low yield and high chemical residue for cocoa beans, which sometimes lead to rejection on the international market over concerns of posing health risks to unsuspecting consumers.

The COCOBOD Officer in Charge of Sankore Cocoa district in the Ahafo Region, David Gyebi-Afriyie, said wrongful application of insecticides and fertilisers continue to characterise the activities of some farmers – lamenting that the trend undermines efforts of COCOBOD, and for that matter government, to transform cocoa production in the country and negotiate for premium price.

He therefore urged farmers to comply with recommendations of extension officers and adopt good agronomic practices (GAP) to avert the situation, saying: “You can’t ignore experts’ advice and expect high yields and premium price”.

He made these remarks during apresentation of agrochemicals including begreen flower booster, insecticides and UG fungicides to some farmers in the Sankore enclave.

The beneficiary farmers are in the communities of Agyerekrom, Yamano, Manhyia, Dankwa, Chief Camp and Tweneboa.

The Sankore Cocoa District Officer reaffirmed the commitment of COCOBOD to transform cocoa farming through effective implementation of the productivity enhancement programmes (PPEs) – hand pollination, pruning, rehabilitation, distribution of agrochemicals and other equally important interventions.

He urged the farmers to willingly embrace the programmes and take utmost advantage of them (the PEPs).

“To help increase coverage of the hand pollination exercise in Sankore district, COCOBOD has increased the numbers of pollinators here from 450 to 750. We have also trained an additional 120 volunteers to support work of the recruits,” he said.

On behalf of the farmers, Chairman of Agyerekrom Farmers’ Cooperative, Peter Adongo, thanked COCOBOD for the presentation as well as its interventions over the years. He however joined the clarion call for COCOBOD to increase cocoa price in the upcoming 2020/2021 season, citing rising cost of production – hence the need for government to equally respond with a price increment.

He also appealed for government to give a facelift to the four kilometre Kwapong-Agyerekrom road. He said the road’s deplorable state makes it unmotorable whenever it rains, denying farmers access to market centres.

Ace Medical Insurance donates to 37 Military Hospital

September 10, 2020

Mr. Solomon Awuku - the Chief Executive Officer of Ace Medical Insurance — Mr. Solomon Awuku, Chief Executive Officer of Ace Medical Insurance presenting the items to Brigadier General Nii Adjah Obodai, the Commanding Officer of 37 Military Hospital

Ace Medical Insurance, a private health insurance company, has donated some items to the 37 Military Hospital. The donation, in execution of the company’s corporate social responsibility, was aimed at helping to alleviate the strain on the hospital’s resources caused by the COVID-19 pandemic.

The Donation

Items donated to the hospital included Personal Protective Equipment (PPE), Disposable Nose Masks, Paper Towels, Hand Sanitisers, and Liquid Detergents.

Presenting those items to the hospital, Mr. Solomon Awuku – the Chief Executive Officer of Ace Medical Insurance, indicated that although the number of active cases of COVID-19 infection are on the decline, there is an ever-pressing need for greater care and vigilance at this time.

With a decreasing number of active cases, he noted, comes the tendency to be complacent. Ace Medical Insurance thus hopes that the donation will provide much-needed support to our greatly appreciated frontline workers, while also bolstering the will to strictly comply with all protocols in fighting against the pandemic.

Brigadier General Nii Adjah Obodai, the Commanding Officer of 37 Military Hospital, received the items on behalf of the hospital. He was assisted by Lt. Col. Ken Dogboe and SWO Sam De-graft.

Brigadier General Nii Adjah Obodai expressed gratitude for the kind gesture of Ace Medical Insurance during these difficult times of the pandemic. He urged other corporate entities to emulate this act of generosity.

Having partnered over 500 healthcare Service Providers across the country to make healthcare accessible to all its beneficiaries, Ace Medical Insurance hopes to extend this gesture to more players in the healthcare delivery chain during the coming years.

Founded on the radically simple idea that everyone deserves the chance to live a healthy life, Ace Medical Insurance is licenced by the National Health Insurance Authority to function as a Private Commercial Health Insurance Scheme. Ace Medical Insurance offers diverse services to support organisations in their quest to provide efficient and cost-effective healthcare services to their workforces. With a highly trained and competent team at its helm, and backed by a continuously upgraded information technology system, the company is seen as the fastest-growing private commercial health insurance scheme in the country.

Lower-income countries could soon leapfrog high-income countries with AI-enabled health technologies

September 9, 2020

What-Steps-Should-Morocco-Take-to-Lead-Africa-in-Health-Technology-640x357-1 — Photo: AI-enabled health technologies. Credit: NaijaGrove

A new report backed by Novartis Foundation and Microsoft has revealed that low- and middle-income countries could soon leapfrog high-income countries in their adoption of new AI-enabled technologies in health.

According to the report, technologies such as mobile phone trading platforms, e-banking, e-commerce, and even blockchain applications have often been adopted faster and more comprehensively in low- and middle-income countries than in high-income countries.

It captures that the adoption of health technologies is likely to follow the same trend, with digital transformation accelerated by the COVID-19 pandemic, according to the report “Reimagining Global Health through Artificial Intelligence: The Roadmap to AI Maturity.”

“Reduced contact between patients and health providers due to social distancing has led to major growth in technologies such as AI-enabled diagnostics. Millions of more people have sought digital health care solutions – presenting a tremendous opportunity for countries to integrate data and AI into their health systems.”

For example, Rwanda is now arguably the most digitally connected health system in Africa, with its virtual consulting service surging past two million users – one-third of the adult population – in May 2020.1

Dr. Ann Aerts, Head of the Novartis Foundation and co-chair of the Broadband Commission Working Group on Digital and AI in Health, which crafted the report, said many countries are ill-prepared to address a newly emerging disease such as COVID-19 in addition to the existing burden of infectious diseases and the ever-increasing tide of chronic diseases.

“Digital technology and AI are essential enablers to re-engineer health systems from being reactive to proactive, predictive, and even preventive.”

The Commission was established in 2010 by the International Telecommunication Union and UNESCO to expand broadband access to accelerate progress towards national and international development targets.

“We have to develop a sustainable ecosystem for AI in health in the countries where it is most desperately needed,” Dr. Aerts said. “This has to happen while ensuring fairness and access for all. As health systems build back after the pandemic, technological innovation has to be a core part of the agenda.”

Sub-Saharan Africa currently represents 12% of the global population but faces 25% of the world’s disease burden, while housing only 3% of the world’s health workers.

-Novartis Foundation and Microsoft backed report

Investment in data and AI will be a key tool driving African health system improvements during and after the COVID-19 pandemic
African countries could be the fastest adopters due to lack of legacy systems but have the most to lose if governments don’t invest now
A third of the adult population of Rwanda is already using a digital health consulting service, while an AI-enabled diagnostic mobile app first rolled out in Tanzania now has 800,000 downloads
The report uses current AI best practices to draw a roadmap that can help all countries advance towards AI maturity in health

Follow the link below to read the full report.

Eng Novartis Foundation AI report_release_SSA_final_070920

Real Estate Minute With Cyril Nii Ayitey Tetteh: Is a Green Indigenous Architecture Attainable?

September 9, 2020

Green-building — Photo: Green building. Credit: HiSoUR

One of the striking cultural elements of many a society is their building architecture; a personality carved deliberately with indigenous material, colour, motifs and other symbolic accents.

Until the influence of western design, indigenous design leveraged the immediate natural environment to provide quality indoor air, cooling and other functional spaces. In our quest for healthier and functional spaces, we re-opened this much-needed conversation on indigenous architecture at the 3^rd Ghana Green Building Summit. In keeping with the promise to share some of the insightful discussions here, we will today share highlights from the panel discussion that explored the topic- Is a Green Indigenous Architecture Attainable? The panel was made up of the following:

THE PANEL

Ben Adarkwa, RIBA – Architect and Partner, Benson Architects
Hector Nanka Bruce –Architect and Principal of NankaBRUCE Inc.
Kuukuwa Manful – Architecture Researcher and Co-founder, Sociarchi

Moderator -William Evans Halm –Architect, CEO, Spektra Global

What is Indigenous Architecture?

According to Hector Nanka Bruce, the construction, design and use of specific building materials that are common or local to a particular area or region is what constitutes Indigenous Architecture.

A Historical Perspective

Kuukuwa Manful provided a historical account of how green indigenous architecture had always been present in our society but faded over time due to a number of factors. She mentioned colonialism as one of the factors, whereby the British colonialists ensured that building permits for buildings made out of earth, thatch and timber were rejected by the Accra Town Council as far back as 1894 and were rather told to replace the earth with concrete or metal. Changes in social tastes, trends as well as capitalists mode of consumption all contributed to indigenous architecture fading over the years.

A 21^st Century Model

Hector Nanka Bruce used his house that he is currently building with 80% local materials to illustrate his point that one can still, in these modern times, consume and build green with local materials. According to him, he is currently using concrete for the columns and beams, stone for exterior walls, clay bricks for the interior, raffia palm sticks for decorative materials including balustrades and Braapa (woven bamboo material originally used for drying cocoa beans) for his ceiling.

Concerns about Durability and Material Integrity

Concerns were expressed about the durability and general material integrity of recommended local materials like stone, compressed or rammed earth, laterite, burnt clay blocks, wood and thatch to last a building’s life cycle or withstand fire and other forms of pressure. For instance, Ben reminded all that hydrafoam which is a block made out of laterite is hydroscopic, meaning it absorbs a lot of moisture from the air, which eventually weakens it and loses its integrity. Kuukuwa, in response, mentioned that there exist additives, which can be applied to counter the hydroscopic elements.

Hector also intimated that retardants can be sprayed on wood to prevent fire and for roofs made out of thatch, area or sitting for building should be studied carefully to ensure it isn’t fire-prone as thatch is susceptible to catching fire easily. He further stated that it is poignant to note that no matter what kind of material used, the key to long term sustenance and durability is maintenance.

For compressed earth, in particular, Kuukuwa allayed fears concerning its load-bearing properties and provided examples to buttress her point. She indicated that as far back between the 16^th-17^th century, the earth was used for high rise buildings in Kumasi, Ghana, where the British discovered to their amazement, the existence of upstairs toilets, when even, the whole of UK, at the time, had only 2 upstairs toilets. She also mentioned that earth is still used in high rise buildings, in Yemen for instance, where there are eight (8) storey high buildings, even as of today.

Variability

A critical note was made that beyond the physical structure being green, consideration should also be given to the construction process itself, which can also influence the project being green or otherwise. For instance, if you transported laterite material a long distance off the construction site, that transportation would have contributed to carbon emissions which also make the environment worse off and thus cancels out any sustainable material usage. The net off effect is negative and you may be better off using sandcrete if that is the material that is local and immediately available.

Recommendations to Make Indigenous Architecture Attractive

-Increased promotion and funding for Research and Development projects

-Ensure high profiled national and iconic projects adopt an indigenous architecture

-In marketing, go beyond word of mouth to showing clear tangible benefits and cost savings

-Need to go beyond communicating financial or economic sustainability to communicate lifecycle sustainability which ensures long term benefits, borne out of low maintenance costs, far outweighing the initial startup costs.

-Incorporate indigenous architecture into school curricular of local architectural institutions as against the heavy laden euro-centric curricular.

-Move from ‘the helicopter approach’ of planting wholesale, euro-centric concepts unto the local environment without regard for our unique climatic conditions. Architects to be more nuanced in the application of ideas and concepts by adapting it to suit our climate.

PRESENTED by Ben Adarkwa, RIBA – Architect and Partner, Benson Architects, Hector Nanka Bruce –Architect and Principal of NankaBRUCE Inc., Kuukuwa Manful – Architecture Researcher and Co-founder, Sociarchi and moderated by -William Evans Halm –Architect, CEO, Spektra Global at the 3^rd Ghana Green Building Summit 2020.

My fears, My suggestions

September 8, 2020

I am beginning to have a strange fear about the political and economic growth of this beloved country of mine. Maybe I am becoming paranoid and would be happy for a proper diagnosis so that I may consult a good psychiatrist.

Partisan considerations

What are we doing to ourselves now by seeing everything from partisan lenses? Even communal labour in rural areas have been turned into NDC and NPP matters. You dare not proffer an opinion on anything without being branded as an NDC or NPP person. My fears are even exacerbated when I consider otherwise good intellectuals now twisting their commentaries to merely score political points.

Did we all not agree to accept democracy when we adopted the 1992 constitution? Did that not imply the expression of alternative views and suggestions without drawing swords? I pity the law enforcement agencies whose work is gradually becoming so difficult because of needless political coloration.

My fears are even more pronounced anytime we have to discuss the current banking and financial crises and the cacophony of “no payment, no vote” sounded by “victims”. This posture is without regard to how the crises arose, the cost and methods of paying those whose funds are involved and how we are going to stem a repetition of the factors that gave rise to the present uncomfortable situation.

Suddenly, there is a pretention of no wrongdoing at all by any official that led to the current debacle from the banks and NBFI space or even the Regulatory bodies. Sympathies appear to be swayed in favour of the perpetrators of the debacle instead of those tasked with cleaning the mess against near impossible alternative strategies; all because of politics.

Just arraign a suspect to court and suddenly people begin to look at which party the alleged offender belongs to before they even consider the merits of the charges and the incalculable blow the economy has suffered as a result of the infractions.

Free SHS graduates

My second source of apprehension has to do with the new set of graduates that are going to join the queue for jobs; those euphemistically called Akufo-Addo graduates. Yes, education is good for everybody but my worry is the kind of mentality that these students join the world of work with. Here are people who have been made to think that they are entitled to white-collar jobs because they have graduated from secondary school at a time when graduates from some universities have been unemployed for quite a few years.

Here are graduates who have been fed in secondary school without any input from themselves or their parents and guardians. To what extent have we equipped them to face the world of work, particularly the horde that have been shoved through the grammar type of education with disdain for technical and vocational skills?

Exponential growth in the street selling

My fear is heightened each time I drive past and see how the number of street sellers have suddenly multiplied. I am frightened by their new-found aggressiveness as they sell their wares. I particularly fear the young men who would want to clean your windscreen and bark at you or draw knives if you dare ask them to stop. I am afraid because they vent their frustration on me without realizing that I am not responsible for the taxes they pay, nor have I any role to play in who they vote for, why they vote for such persons and how they vote… out of a free will or against financial inducements.

I am afraid of the uncontrolled rural-urban drift and the increasing despondency that have bedeviled living in the rural areas while the cities are bursting at the seams with heightened insanitary conditions, haphazard housing and a rising crime wave.

Increasing debt burden

I am afraid of the increasing debt to GDP ratio and wonder what we have done with all those monies we have borrowed over the years and whether we have significantly improved our capacity to pay these loans when due. My fear is rooted in the recognition that we all know that our development trajectory is lopsided but governments upon governments have not succeeded in fundamentally shifting the development nexus to a self- reliant economy in spite of different slogans over the last fifty years.

Unbridled imports

To read from the Ghana Statistical Service that agriculture contribution to Ghana’s GDP has been consistently falling over the years makes me want to cry. Why spend over USD.500million annually importing rice alone? That we continue to import even tomatoes and onions from our Sahelian counterparts is a major shame for all Ghanaians to share.

This week, watching farmers from Upper West Region with sullen faces on television lamenting about a glut in tomatoes output without corresponding buyers saddened me to the marrow. I bet the cost of just 10 V8 vehicles in the public sector can set up a mini-factory to process the excess tomatoes. I wonder how the farmers are going to generate incomes to pay for the cost of fertilizers and other inputs and whether they would have the same zeal to cultivate in the next season.

Luck lustre agricultural growth

The World Bank has admonished developing countries to place more emphasis on developing agriculture for their economic growth, instead of depending on an exhaustible resource like oil. It is not as if our leaders are unaware that this is where we have a comparative advantage. Even the UAE economy is under severe stress from falling oil prices. Nigeria’s economy is tottering from the same crises and we continue to pat ourselves over our insignificant production levels at the expense of agricultural growth.

Nobody likes to be chastised but the truth is that the solution to a problem begins with an admission that indeed the problem exists. And the problem in Ghana is that we are performing far below our potential as far as agriculture is concerned. And things become even more problematic because we do not seem to be making any significant inroads into linking agriculture to industry.

Immigrants, including Ghanaians, continue to undertake hazardous journeys through the Sahara desert and Mediterranean sea to seek greener pastures in Europe. Watching the gory scenes of death and desperation makes me wonder whether our leaders have not let us down. These same souls could be gainfully employed through agricultural pursuits.

What at all does it take to feed this small country that we cannot fix permanently?

Before geopolitical interest groups succeeded in dismembering Libya, a desert country, friends who have lived there before spoke highly of the country’s agricultural exploits in spite of the unfavorable desert vegetation, during Ghadafi’s reign. We are told of irrigation schemes with water sourced from the depths of the desert and effectively used to promote agriculture.

Hearing such stories makes me wonder whether Ghana’s democracy in its present form, with all the ideals of personal liberties and freedom to “choose to be needlessly vocal, lazy and poor” are not to blame for our less than optimal economic growth. And we continue to talk unashamedly about getting independence with the Asian tigers around the same period!

Over fifty years on, we are producing graduates who look down on agriculture with such uncanny disdain. My love and respect for nature led me to incorporating plantation farming into my retirement plans in my late forties. This was during times that I was earning comparably good emoluments as a bank executive. From this foray into agriculture so far, the greatest challenge that I have faced ironically is the dearth of farm labourers in the countryside.

Any time I see the hordes of unemployed youth in the cities engaging in street selling, sleeping in wooden kiosks, creating slums, so insistent on “their rights” and “contributing their quotas to despicable open defecation and other insanitary conditions in our cities”, my hopes for this country’s future sag, even if momentarily.

This unsustainable lopsided development paradigm that ignores the rural areas and rather consciously promotes rural-urban migration must be reversed through an agricultural revolution, on a much bigger scale than whatever achievements we claim to have made over the last few years.

Unfettered freedoms?

Unfettered freedom in its current form in Ghana, cannot be a catalyst for any kind of development. The late Lee Kuan Yew said it so eloquently in his book, “From Third World to First World….”. Where is the leadership to galvanise the youth and sensitise them to really believe that agriculture is not for “the never do well?”

I have read and heard enough about industrialization being the engine of growth in this country. But if such industrialization does not recognize and exploit our extremely high comparative advantages in agriculture, we shall continue to wallow in poverty and hopelessness, while people clinch to the freedom to make any choices, even if these stagnate this country’s growth.

We must purge the citizenry of their scornful attitude to agriculture, by sensitizing the youth especially about how agricultural growth is tied to their future well- being. It is sad to note the pervasive hopelessness of farmers in the rural areas who are stuck with the unfortunate belief that agriculture is only for disappointed people.

Such sentiments make me lose hope for mother Ghana’s future. If we continue to despise agriculture and its players, we shall continue to shout ourselves hoarse and import over $600 million worth of rice and poultry products alone annually.

Shall we continue to unashamedly import common onions and tomatoes from a Sahelian/desert country and still wonder why our cedi continues to depreciate?

Less than 20% of Americans are engaged in agriculture to feed the rest of the population. Yet they still have surplus for exports with value addition. The Israelis are busily engaged in agriculture- their unfavourable vegetation, notwithstanding. In Botswana, it is so exhilarating to find that most of the elite own their cattle farms and love to spend weekends on these farms.

Some clues

So what does it take to emulate these countries and lift ourselves from our self-inflicted economic doldrums and the resultant hopelessness of our youth? I can’t claim to have all the answer but I believe strongly that a real change of negative perceptions about agriculture is a sure starting point. Even JSS graduates who can barely write their names properly now scorn all forms of agricultural pursuits.

In the late ’60s and early ’70s, there was a sense of fulfillment and nobility among agricultural workers even in the villages. Even our not so educated head of state- Col. Acheampong got his military government to raise agriculture to earn some dignity to the point of self- sufficiency. Some say he merely capitalised on the framework that had been laid by the Busia regime that he overthrew. If we get the results, does it matter whose idea that was?

What stops us from creating inter-ministerial coordination to get every public SSS to produce say forty percent of their food needs on their fallow lands that have become the target of constant encroachment? For schools in the cities which may not have abundant land, what does it take to build cages or fences to raise poultry, rabbits, guinea pigs etc on the school compound to give students practical knowledge about agricultural science? Would this not imbue in them some entrepreneurial disposition to want to engage in various forms of agriculture as a livelihood after school?

What has happened to the various universities’ research farms, when they now have such huge markets with increasing student intake?

Admittedly, the National Service Scheme has some farms of a sort, producing a few thousand bags of grains annually. From a purely cost/benefit perspective, however, their output pales into insignificance. Let us think more commercial than political. A strong Thatcherite hand is necessary to purge people of their entitlement mentality and force them into the field to make themselves “dirty for the right purposes”.

Can we not get the prisons to cultivate large enough farms to supplement feeding that will lower malnutrition in these pseudo concentration camps, instead of officials continually whining about lack of funds for basic needs?

Can we not use some of our energetic, brilliant army personnel to assist in building road infrastructure to propel an agricultural revolution and also help in bridging the budget deficits that appear to be bedeviling our developmental efforts?

With so many students in the free SSS scheme, don’t we have the right opportunity to engage these teeming youth on school farms, at least to feed themselves and simultaneously help to contain the scarce subventions school authorities wait for endlessly?

Just like inter-colleges sports festivals which excite students so much, can we not invent some competition in college agriculture to whip up the same enthusiasm among the students, while supplementing their food needs simultaneously?

I sincerely believe that a true agricultural revolution holds the key to decongesting our cities with the myriad of sanitation challenges that tend to sap our scarce revenues without adding to real economic growth. The spate of unplanned urbanization would be curbed if we can consciously create incentives for people to voluntarily relocate to the hinterlands for the equitable development of this potentially great nation.

Our problem is not lack of resources. It is just the discipline to prioritise our needs. That requires resolute, visionary leadership that will give real meaning to our independence.

The laudable school feeding programme for basic schools can be accelerated without it costing us arms and legs if we promote agriculture with all our hearts and minds. After all, nutritious food does not necessarily have to be expensive; thanks to Professor Akosa for that enlightenment.

There is no excuse for this programme to have even five percent of imported inputs. We have what it takes to provide good nutrition for these future leaders right here if we knit the right linkages from production to marketing in the agricultural sphere.

We need stronger state intervention through subsidies and marketing opportunities to end this stop-go inclination of peasant farmers who make losses in bumper seasons and therefore reduce production in subsequent years.

Considering the current costs of production inherent in all sectors of agriculture, if we continue to pay lip service to agricultural growth and leave market forces alone to determine the allocation of scarce resources, our quest to tame inflationary pressures and deal with the high unemployment situation, would continue to be a mirage.

I hope my fears about the restless youth without direction is only some schizophrenic feeling. What if it becomes a real-time bomb?

The writer is a Fellow of the Chartered Institute of Bankers, an adjunct lecturer at the National Banking College, a farmer and also author of “Risk Management in Banking” textbook.

Email; [email protected] Tel. 0244 324181 / /0576436414

Editorial: Misapplication of agrochemicals in cocoa production disturbing

September 8, 2020

Cocoa_Ghana_safety — Photo: A cocoa farmer applying chemicals to his farm. Credit: UTZ

The Ghana Cocoa Board (COCOBOD) is gravely concerned about the misapplication of agrochemicals since the wrongful practice poses a threat to sustainable cocoa production and productivity. Cocoa farming requires the use of agrochemicals to ward off pests and provide the soil with nutrients for the healthy production of beans.

However, since agriculture extension officers are in short supply in the system, many of the farmers are left to apply these agrochemicals without proper guidance which leads to misapplication and its potential dire consequences.

This leads to low yields and high chemical residue in cocoa beans which often leads to their rejection in the international market over concerns of posing a health risk to unsuspecting consumers.

A COCOBOD Officer in charge of Sankore Cocoa District in the Ahafo Region, David Gyebi-Afriyie notes that wrongful application of insecticides and fertilizers continue to characterise the activities of some farmers, lamenting that the trend undermines efforts of COCOBOD and for that matter government, to transform cocoa production in the country and negotiate for premium prices.

Cocoa farmers do not apply pesticide on their cocoa farms at the recommended frequency of application. Furthermore, although pesticides are said to be toxic and expose farmers to risk due to the hazardous effects of these chemicals, pesticide use among cocoa farmers in Ghana is still high.

Another major concern aside the use of pesticide is the frequency of pesticide application. The farmers argue that most of them are not well informed as to the quantities of chemicals to use for a particular acre of land.

Cocoa is a national asset and has to be protected since it is the country’s major export commodity. People all over the world are now more health-conscious and are wary of chemical residue in the food chain that is why some of our cocoa beans have been rejected for having too much chemical residue.

Extension officers must be at hand to assist our cocoa farmers in applying properly agro-chemicals and at the right frequency. Over the years, the frequency of agrochemicals application, the over and underuse of pesticides and insecticides, has been the bane of cocoa production in the country.

Extension officers are best placed to instruct our farmers on good agronomic practices. There is a need to train more agriculture extension officers.

Utilizing the dynamic capabilities framework to capture opportunities and mitigate risk in the upstream oil and gas sector

September 8, 2020

As Ghana is considered an emerging player in the oil and gas sector, the Petroleum Commission set up in 2011 was charged to regulate the upstream (exploration and production) industry after commercial production began in 2010.

Due to the strategic and effective regulatory policies implemented by the petroleum commission, many international companies like Aker Energy, Tullow Oil, Kosmos Energy, ENI, Springfield among others have established their presence in the upstream industry.

The upstream petroleum activities are composed of exploration, appraisal, determination of commerciality or relinquishment, and development/production stages. After a lease is obtained, exploration in the search for oil and gas takes effect. If found, the discovery necessitates development for drilling and extraction activities to take place. Drilling and extraction activities emerge when the resource is deemed viable to be commercially produced given current technological advances that allow the recovery of the cost of production and guarantees investor profit.

On an economic scale, as the company aims to maximize profit, Ghana will also want to ensure the maximization of revenues from its resources. Taking a clue from the far advanced countries, in some scenarios, there is an inaccurate nexus between the company’s profitability and revenue/royalties/taxes for the host nation.

However, it is worth noting that profitability always differs based on the geology, the use of technology, and the commodity price. Against this backdrop, although the petroleum commission continues to do exceptionally well in managing our upstream petroleum activities, the capturing of opportunities and the mitigation of risk in the upstream sector is a continuous process that demands attention from stakeholders in the oil and gas industry.

In an attempt to contribute my quota in managing upstream petroleum activities as an energy economist, the Dynamic Capabilities Framework (DCF) comes to play. The DCF was initially developed to improve the strategic agility in high-tech firms operating in a somewhat highly volatile market.

For companies operating in a more volatile market like the oil and gas industry, strategizing may not always be long-term because market and technological uncertainty require constant refocusing for the firm or commission to remain relevant. Therefore, to strategically man-up activities in the oil and gas industry, dynamic capabilities that support technological, organizational, operational, and business model innovations are essential.

Today, DCF is widely an accepted approach that captures opportunities and mitigates strategic risks in upstream oil and gas Exploration and Production (E&P). Managers with key strategic decision-making responsibilities employ this strategy to maintain sustainable value, to enhance safety and profitably, to increase reserves and production to meet the company’s share of the world’s energy needs and to maintain or advance a commissions competitive position. Therefore, this article delves deeper into how the DCF can be adopted and implemented by stakeholders to capture opportunities and meet the considerable challenges created by recent changes in the oil and gas industry.

In explicating the DCF approach, four key factors are highlighted to have triggered a climacteric for upstream oil and gas entities. These factors are listed and explained below.

Judging by the Reserve Replacement Ratio (RRR)

In one of my most recent journal manuscripts, I developed a framework for long-term energy demand and production forecasts for the oil and gas sector to the year 2050. In my analyses, I realized that Ghana’s consumption saw an increase of 23% against the base year consumption level. As consumption and production increases, investors use the RRR to measure the operating performance of an E&P company

Two options form a significant basis for improving RRR. First, reserves can be increased through acquisition strategies; purchasing proven reserves. Second, reserves can be increased through organic strategies, including partnerships that support the continued discovery of new resources. To expand reserves, key emphasis should be placed on dynamic capabilities.

The dynamic capability approach addresses some important exigencies such as the rapid integration of acquisitions; achieving efficiencies, quality, and safety; the ability to more effectively predict volumes and the subsurface reality (risk); the rapid deployment of technology, and people into potentially hostile environments.

Ubiquitous learning for unconventional strategies

The scarcity of hydrocarbons has emanated the need to invest in unconventional oil and gas to augment RRR. A more unconventional approach is focusing on shale plays yielding natural gas, NGLs, gas condensates, and crude oil. Moving towards an unconventional approach necessitates the development and application of new technologies and new processes in new geographies. Attempting to invest in unconventional strategies allows managers to confront considerable challenges and better opportunities. This requires organizational change, learning, and a different set of managerial priorities.

Managing the human resource strategy

A fundamental challenge for most entities in the oil and gas industry is how to effectively manage a cluster of human resource activities that provide employees doing the right task in the right role with the right people at the right place and with the right supervision. Deficiencies in the ways people are managed, alone, and in their interactions, can undermine value creation, production, create disasters, and demolish a strategy. There should exist a dynamic capability that empowers employees strategic lead to better management of activities inside and outside the organization that recruits, train, and retain the talent required to create value.

Managing health, safety, security, and environmental risks

The management of health, safety, security, and environmental risk need significant attention and numerous asset orchestration activities in the wider business ecosystem. Management styles in most situations differ from other kinds of managing regulatory or compliance risk where point-of-risk solutions may be seemingly accurate. Since the management of this risk is somehow complex, involving partners of which key operations are outsourced requires the development and application of a comprehensive, systemic, cultural, and strategic capability by firms seeking longer-term survival, growth, and prosperity. This development and application procedure is important because, in the upstream oil and gas industry, the impact of risk simultaneously affect several drivers of economic value, not just for one company but for all E&P companies.

In conclusion, the DCF has evolved from an undergird agility in high-velocity markets, to a comprehensive strategic framework relevant for upstream oil and gas entities as they capture opportunities and mitigate risk in an ever-changing business ecosystem. Sturdier and robust dynamic capabilities can sharpen strategic agility and are the key to seizing and profiting from opportunities in the new business environment. Dynamic capabilities certainly empower upstream strategy.

The writer is an energy economist, data scientist, and policy analyst. Email: [email protected]

The EU green deal renders green hydrogen hot

September 8, 2020

Photo: Nana Amoasi VII, Executive Director-IES. Credit: IES

Not so long ago, the energy transition was an idealistic concept-driven largely by researchers and environmentalists. The most important drawback was the high cost associated with the deployment of clean technologies. However, today and even more in the very near future, renewable energies (RE) will be accepted as the only reasonable and feasible power source for both industrialized and developing countries.

Now the “Green energy race” is on. The race is about transitioning into a green economy to help reboot local economies as they emerge from Covid-19 crisis. Energy sourced from renewables, be it for power generation, transportation or whatever; is expected to chart the path to recovery. It is viewed as the most sustainable recovery strategy by countries around the world because of the immense benefits it comes from its deployment.

As we know today, renewables were the only source that posted growth in demand in the first half of the year 2020, driven by larger installed capacity and priority dispatch. Records indicate that with the lowering cost of renewable energy sources, renewables have demonstrated their robustness, stability, sustainability, and cost-effectiveness over this malignant Covid-19 period, unlike fossil fuels, coal and gas. As a result, there is a widespread, ambitious and genuine commitment to advancing comprehensive renewable energy towards achieving resilient economies with long-term growth, new jobs, cleaner and healthier environments, increased Gross Domestic Product (GDP), improved agriculture yields, and affordable and sustainable energy for all in the long term. Therefore, developing renewable energy is a must-have, a make-or-break commodity.

In the International Energy Agency’s (IEA’s) report, “World Energy Investment” published in May 2020, is a description of drastically changed energy markets in the wake of the coronavirus pandemic. The report reveals the largest fall in energy sector investment ever and uncovers historic shift along the way. It shows that for the first time ever, there will be more spending on electricity than on oil. Most importantly, the report asserts that it is in the power sector where the possibilities of transition to a low-carbon energy sector are most apparent.

…to Green Hydrogen

The drastically reduced price of PVs and wind turbines for example, has ensured global attention for “Green” hydrogen, a virtually inexhaustible source of clean energy with zero carbon emissions. Hydrogen is today enjoying unprecedented momentum because of the falling cost of electricity produced from renewables. Supplying hydrogen to industrial users is now a major business around the world. Demand for hydrogen according to the International Energy Agency (IEA), has grown more than threefold since 1975 and continues to rise.

The world is, of course, transitioning from the traditional “hydrocarbon economy” where heating is fueled primarily by natural gas and transportation by the burning of petroleum, to a “hydrogen economy”. The new hydrogen economy is developing as part of the low carbon economy, phasing out fossil fuels and limiting global warming.

Hydrogen power is not a novelty; it is already widely used in commonplace industrial processes such as ammonia production, in refineries as a feedstock for chemicals. It is also used as a fuel, an energy carrier, or an energy storage solution. The standard hydrogen used in these production processes, however, is not “green” as you may think. It is created with fossil fuels, primarily coal and natural gas. This form of hydrogen is known as “grey” hydrogen and is essentially useless in terms of reducing greenhouse gas emissions.

The production of “Green” Hydrogen through a process called electrolysis whereby hydrogen is separated from oxygen in water, is gaining traction in the new Green economy. The best bit is that there are no emissions from this process, compared to the traditional way of producing hydrogen from natural gas and coal. Once produced through electrolysis, the hydrogen can be stored, transported and processed for a growing range of applications. “Green” hydrogen is a perfectly green cycle; its production can be made everywhere and can be used everywhere.

Currently, 8 million tons per year of “grey” hydrogen are produced in the European Union (EU) through steam reforming which emits a significant amount of carbon dioxide (CO2). In theory, these facilities can be enhanced with carbon capture and storage (CCS) technology to limit environmental damage and produce blue hydrogen as a bridging method. Further along the road, however, electrolysis capacity needs to be expanded to produce “Green” hydrogen, meaning only using renewables.

Because of its immense economic and environmental benefits, most governments have already planned and are deploying strategies to achieve sustainable energy supply, via renewable electricity and “Green hydrogen”. By the adoption of policies and pursuance of targets, countries like China, United States (USA), Germany, Norway, Denmark, United Kingdom (UK), Saudi Arabia, and the United Arab Emirates (UAE) are working to become world leaders in renewable energy, and are therefore investing heavily into renewable energy technologies (RETs).

The EU Green Deal

Today, “Green” hydrogen is red hot, thanks to European Union (EU) “Green” deal. Europe’s most powerful supranational organization, the European Commission, has earmarked the transition from the traditional “hydrocarbon economy” where heating is fueled primarily by natural gas and transportation by the burning of petroleum, to a “hydrogen economy” as one of the most important topics for the coming years.

The EU “Green Deal” is one of its most ambitious plans to mobilize at least €1 trillion in public-private investment over the next decade. The biggest contribution to the €1 trillion budget of €503 billion is expected to come from the EU budget, unleashing a further €114 billion from national governments. The next €279 billion contributions is to come mostly from the private sector: the idea is that companies would be encouraged to make risky green investments by loan guarantees from the European Investment Bank, the EU lender, which recently pledged to phase out loans to fossil fuel projects.

The deal aims to transform the 27-member country block from a high to a low-carbon economy, without reducing prosperity and while improving people’s quality of life, through cleaner air and water, better health and a thriving natural world.

The unveiling of its hydrogen strategy reveals how Europe’s top policymakers intend to expand the fuel’s value chain from production to transportation, storage and consumption. The strategy gives a good overall picture of what an emerging hydrogen economy will look like. It will be a much more integrated energy system; one that moves energy among the sectors of transport, industry, and buildings. The strategy gives the example of cars powered by solar panels on roofs, while buildings are warmed with heat from nearby factories, which is fueled by clean hydrogen produced from offshore wind energy.

The EU “Green Deal” is partly dedicated to kick-starting a continental zero-emissions economy. The strategy contains a three-step plan that starts with the implementation of Green hydrogen production and consumption in industries such as steel, cement, chemicals, and refineries by 2024 through the development of large electrolysers of up to 100MW in the vicinity of existing industrial centers of demand. It also emphasizes the development of refueling stations of hydrogen fuel cell buses and trucks. In the meantime, planning of transmission infrastructure will continue.

In the second phase, facilities will be connected to create “Hydrogen Valleys” by 2030. Hydrogen will expand beyond the industrial base and begin to play an important role in power system flexibility and storage. This will be made possible with 40GW of hydrogen electrolysers installed in Europe, supplied by renewable energy, producing 10 million metric tonnes of renewable hydrogen annually. The long-range transport of hydrogen will need to occur and the strategy document discusses a “pan-European grid” with the existing, partially repurposed, natural gas grid and the development of large hydrogen storage facilities. This will link the areas with large renewable energy potential to major demand centers in the EU countries.

In the last phase, the hot spot will be joined and a large European hydrogen infrastructure created by 2050. This requires large expansion of numbers of electrolysers, upgrading of distribution networks and the building of hydrogen transmission pipeline infrastructure. Producing vast quantities of hydrogen will also require a significant expansion of solar and wind power capacity. This phase assumes that zero-carbon hydrogen will become widespread in shipping, aviation, and other hard-to-decarbonize sectors such as commercial buildings. A large market for hydrogen-derived synthetic fuels will also exist.

The EU hopes to produce 1 million tonnes from 6GW of electrolysis capacity by 2024. By 2030, this should have grown towards 10 million tonnes from 40GW capacity. Germany alone is expected to contribute 5GW by 2030. EU’s 2030 leap to 40GW of renewable energy hydrogen electrolysers will be matched by 40GW of electrolyser capacity outside of the EU producing hydrogen for imports into the EU. Having 2 x 40GW of electrolyser capacity installed by 2030 would be more than what the Hydrogen Council has proposed for the entire world for 2030.

To help scale up production of green hydrogen in Europe, the EU has launched a Clean Hydrogen Alliance of companies, industry experts, national governments and the European Investment Bank. At the same time, the EU will support the development of a market for green hydrogen by creating standard classification systems of types of hydrogen and a certification system to support its trade.

Other countries such as the Netherlands, also intend to contribute and profit from the new hydrogen economy. The Dutch are uniquely positioned with access to the North Sea for the installment of wind turbines and an existing gas network that could be reused for export purposes. North Africa, with its abundant renewable energy resources, are anticipated to become major suppliers in cross-border trade and export of hydrogen to Europe.

Email: [email protected]

The writer has over 23 years of experience in the technical and management areas of Oil and Gas Management, Banking and Finance, and Mechanical Engineering; working in both the Gold Mining and Oil sector. He is currently working as an Oil Trader, Consultant, and Policy Analyst in the global energy sector. He serves as a resource to many global energy research firms, including Argus Media and CNBC Africa

Gold reserves growth dwindling globally

September 8, 2020

Research agency Standard & Poor’s (S&P’s) Global Market Intelligence says major gold miners globally have seen their economically mineable gold reserves decline over the last decade, owing to a lack of new discoveries and a shift away from growth strategies to margin preservation.

With top producers facing declining production profiles, shrinking reserves and a return to rising production costs, the agency is expecting many to expand organic exploration in the near term, while leveraging targeted acquisitions to supplement their depleted pipelines.

Sixteen of the world’s 20 largest gold miners – including top producers Newmont Corporation, Barrick Gold, AngloGold Ashanti and Kinross Gold Corporation – saw their overall remaining years of production fall over the 2010 to 2019 period.

At the end of 2019, Kinross had just nine years of remaining production, down dramatically from 24 years at the start of the period.

S&P Global Market Intelligence has calculated each company’s gold reserves changes, production changes, reserves acquisitions and divestitures, reserves developed through exploration, major discoveries, cash costs and ore grades from 2010 to 2019.

The agency reports that only two companies – Zijin Mining Group and Fresnillo – had more remaining years of production at the end of the 2010 to 2019 period than at the start, while Gold Fields’ remaining years were unchanged at 20.

During Sibanye-Stillwater’s seven years of operation since 2013, the remaining life of its reserves increased from 12 to 15 years.

Overall, the remaining years of production for the miners included in a new report by S&P Global Market Intelligence, excluding Sibanye, fell by six years over the past decade, to about 14 from 20.

The miners included in the report are Newmont, Barrick, AngloGold, Polyus, Navoi Mining and Metallurgy Combinat, Kinross, Newcrest Mining, Gold Fields, Agnico Eagle Mines, Harmony Gold, China Gold International Resources, Polymetal International, Zijin, Shandong Gold Mining Corporation, Nord Gold, B2Gold Corporation, Kirkland Lake Gold, Yamana Gold and Fresnillo.

S&P Global Market Intelligence says that, throughout the period, some miners relied mainly on acquisitions to replenish reserves or bolster production, although some of their largest deals are now viewed as overpriced, ill-timed or ultimately unfruitful.

The 20 profiled companies held 668-million ounces of gold in reserves at the end of 2019, sufficient for 14 years of production at 2019 rates. They accomplished this while increasing their aggregate production by 12%, from 37-million ounces in 2010 to 42-million ounces in 2019.

These companies replaced an average of 95% of their production over the 2010 to 2019 period, adding 397-million ounces of reserves (adjusted by 10% to account for recovery losses), while producing about 381-million ounces of gold.

Additionally, S&P Global Market Intelligence finds that, over the ten-year period, the 20 top producers spent about $69.5-billion on acquisitions and exploration, representing an average cost of $175.15/oz for the 397-million ounces of replaced reserves.

Almost three-quarters, or $51-billion, of the group’s total expenditures, went to acquisitions and accounted for 53% of reserves growth, while 26% of expenditure, or $18-billion, went to exploration and accounted for 47% of reserves growth.

As reserves added through acquisition are initially much more expensive than reserves added through exploration, companies that emphasise acquisitions tend to have higher average costs for adding reserves than companies more focused on exploration, says the agency.

It states that some of the reserves growth credited to exploration was, however, derived from upgrading resources and increasing reserves at acquired projects.

Eighteen of the 20 profiled companies made acquisitions during the 2010 to 2019 period, buying 209-million ounces of gold reserves for $51.3-billion for an average cost of $245.51/oz.

Polyus and Navoi made no significant acquisitions of gold reserves during the period, but one of the top reserves buyers is Newmont, which acquired 56-million ounces of gold reserves between 2010 and 2019, at an average cost of $192/oz, mainly as a result of its acquisition of Goldcorp.

Newmont is followed by Barrick, which acquired 33-million ounces of reserves, including that of Randgold Resources, in 2019.

On a cost-per-ounce basis, Kinross paid the most for gold reserves at $8.54-billion for 9.5-million ounces, or $899.38/oz, in its acquisition of Red Back Mining and operations.

Including acquired gold resources, however, the cost for its acquisitions improves to $339.44/oz.

Sibanye had the lowest average unit cost of gold in acquired reserves at $8.02/oz, followed by Harmony at $11.35/oz.

Thirteen of the 20 companies analysed made divestitures during the period, selling 68-million ounces of gold reserves for almost $8-billion, for an average return of $116/oz.

Moreover, S&P Global Market Intelligence finds that reserves developed from exploration cost significantly less than acquired reserves over the period.

The 20 companies developed almost 188-million ounces of gold reserves by budgeting $18-billion.

“Along with adding reserves at existing mines and converting resources to reserves at projects, the gold industry’s long-term success depends on finding new resources in major discoveries.

“Despite historically high exploration spending over the past decade, there has been a substantial decline in the number of new major gold discoveries, potentially constraining the long-term supply pipeline,” S&P Global Market Intelligence concludes.

Credit: mininhgweekly.com

Bui Power launches clean campaign in partnership with Voltic

September 8, 2020

Bui Power Authority (BPA) has launched a sanitation programme called ‘BPA Clean Campaign,’ which is to promote cleanliness and encourage waste segregation amongst staff of the Authority.

The drive underlines the Authority’s reputation as ‘Leaders in Renewable Energy’- given that a clean environment is a key element in the provision of renewable energy. The first phase of the BPA Clean Campaign is being implemented in partnership with Voltic Ghana Limited.

So far, Voltic has donated three jumbo-sized bins as part of their “World Without Waste Campaign”. The partnership entails installation of special bins for the segregation of plastics by employees of participating organizations. The bins are emptied by appointed aggregators for recycling.

Presenting the bins to the Authority, Joyce Sackitey-Ahiadorme, Communications and Sustainability Manager at Voltic, on behalf of Voltic and its partners Trash Connect, extended their appreciation to BPA for the partnership in creating a world without Waste through the “BPA Clean Campaign” initiative.

She called on all employees to be good ambassadors of the environment as they segregate their waste and enjoin others to do the same.

Receiving the bins on behalf of BPA, George Tettey, Deputy Chief Executive Officer, Finance and Services, thanked Voltic for the kind gesture. He also added that “BPA strongly believes that, by promoting waste recycling, we will reduce our increasing dependence on primary raw materials. Such practices, across the nation, assist with the management of rainforests for increased vegetation and enhanced rainfalls beneficial to us at Bui Generating Station.”

BPA intends to extend the campaign into the host communities in the Bui enclave as part of its Corporate Social Responsibility programs.

Bui Power Authority operates and maintains the 404-megawatt (MW) Bui Generating Station (BGS) located on the border between the Bono and Savannah Regions of Ghana. The BGS since its commissioning on December 19, 2013, has made significant contributions to the energy demands of the country. Due to the rich experience of its staff in dam construction and maintenance of Hydro Dams, engineers of BPA in 2019 successfully constructed the 45kW Tsatsadu Generating Station located at Alavanyo in the Volta Region.

BPA is currently constructing a 250MWpv, the first phase of 50MW is due to be commissioned into operation by the fourth quarter of this year. This would be injected into the National Interconnected Transmission System. A ground-breaking 1MW floating solar system which will be the second of its kind in Africa is also under construction.

Infrastructure debate: the winners, losers and the way forward

September 8, 2020

The infrastructure agenda of our beloved Ghana dates from Ghana’s first President, Dr. Kwame Nkrumah, to fourth republican regimes of Jerry John Rawlings, John Agyekum Kufour, the late Prof. John Evans Atta Mills, John Dramani Mahama to current president Nana Addo Dankwa Akufo-Addo. All these leaders have contributed immensely to reducing Ghana’s infrastructural deficit.

The nation has seen the construction of notable projects like the Tema Oil Refinery, Kwame Nkrumah Circle Interchange, University of Ghana Medical Centre, The Tema Motorway Interchange, University of Health and Allied Sciences, the University of Energy and Natural Resources etc. – many of which are currently serving the people of Ghana.

The current NPP government recently launched a delivery-tracker to demonstrate how it has transformed the country with over 17,000 projects across the country – of which the NDC has disputed and argued that most of the projects were started under the Mills-Mahama administration.

Clearly, the question of which regime achieved more infrastructural projects than the other in the recent infrastructure debate between NPP and NDC is no novelty of any regime, but a creation of the people’s mandate as enshrined in the 1992 Constitution. What this means is that our political leaders must not glorify themselves for developmental projects they undertake for Ghana, but rather consider them as the reasons why Ghanaians elect them.

US$10 billion infrastructural plan (The BIG Push)

The US$10billion infrastructural plan as championed by the NDC’s presidential candidate, John Dramani Mahama, to drive more development in the form of roads, hospital, schools etc. needs interrogation to ascertain how it will be implemented; specific projects to be undertaken; and the source of funding for The Big Push.

While we wait for the NDC’s detailed implementation plan for The Big Push, I will attempt to propose a clear and structured way of how we can implement such infrastructure initiatives.

On the issue of specific projects to be undertaken, I think as a country we need to conduct a project needs-based assessment across the country through our District Assemblies to ascertain which infrastructure projects Ghanaians really need – not what central government thinks is important. The assessment will help the government learn the true state of infrastructure deficit across the country. These identified projects should be profiled stating the purpose, costing, completion timelines and funding arrangements. Such information should be made public through a website for Ghanaians to know what kind of projects are expected to be implemented in their various communities.

Dealing with the matter of fund disbursement, the US$10billion should be disbursed through District Assemblies to drive the various identified projects, with supervision from the central government to guide the proper use of funds.

Local government can effectively lead such infrastructure initiatives because they understand the development needs of local communities. When such a structure is put in place, Ghana can achieve equitable development across the country within a defined period.

NPP Infrastructure delivery-tracker and election 2020 promise

Government’s provision of roads, highways, railways, water and sanitation infrastructure through the Railway Development Ministry, the Infrastructure for Poverty Eradication Programme (IPEP) and the Development Authorities, as well as the Ministry of Inner City and Zongo Development and the Zongo Development Fund, has led to significant progress in the establishment of basic infrastructure at the local level and in some disadvantaged communities.

According to the NPP, they will strengthen the capacity of Development Authorities and the Zongo Development Fund to enable them to attract private investors and develop infrastructures projects like drains, culverts, feeder roads, classroom blocks, school furniture, CHPS compounds, markets, toilet facilities among others as part of the process.

As much as we give credit for a good job done, it is important to mention that beyond 2020 government must commit to completing all abandoned projects started by the previous NDC government and dotted all around the country before starting new projects.

Way forward on the infrastructure debate

Let’s consolidate all infrastructure-focused agencies – i.e. Ghana Highway Authority (GHA), Department of Feeder Roads (DFR), Zongo Development Agency, Coastal Development Authority system, etc. – set up by the previous and current governments to deliver infrastructure into one Authority to be called the Ghana Infrastructure Authority which will be clothed with the necessary legislation and funding to deliver infrastructure developments across the country. The Ghana Infrastructure Authority should be the lead state agency working with District Assemblies to drive the country’s developmental agenda. The GIS will have mandated officers in all 216 districts to ensure the implementation of infrastructural projects.

The US$10billion Big Push and new development projects promised by the NPP government should be implemented through the Ghana Infrastructure Authority in direct collaboration with Metropolitan, Municipal and District Assemblies (MMDAs); Non-governmental Organisations (NGOs); Civil Society Organisations (CSOs); and Faith-based Organisations (FBOs).

About the Author:

Emmanuel Owusu is a Policy Analyst with considerable knowledge and expertise in local economic development, policy formulation and strategic management.

He is currently Executive Director of Movement for Responsible and Accountable Governance (MoRAG), a civil society organisation.

Contact the Author on 0248110208, [email protected]

Borderless Alliance, JCI sign MoU to involve youth in AfCFTA

September 8, 2020

Borderless Alliance (BA) has signed a Memorandum of Understanding with Junior Chamber International (JCI) with the aim of mobilising African youth toward implementation of the African Continental Free Trade Agreement (AfCFTA).

The agreement, which took place at the BA Secretariat in Osu, Accra, signals the beginning of a long-term collaboration between the two organisations – which will leverage on their expertise in the areas of trade advocacy and youth mobilisation to encourage youth to engage more actively in the continent’s trade policies and governance issues.

The two-year-long collaboration, which can be subject to renewal and extension, is expected to widen the geographic area of collaboration beyond the borders of Ghana and into other West African countries in the near future.

“We are pleased to associate ourselves with Junior Chamber International (JCI) in Ghana, in view of their active presence in the country and across the continent,” declared the national President of Borderless Alliance in Ghana, Ziad Hamoui. “With this MoU, we are looking forward to a long-term and growing collaboration in mobilising African youth for shaping the continental integration agenda,” he added.

Young entrepreneurs are considered among the most marginalised groups, along with women traders, regarding economic integration and the opening of African markets to competition. By actively engaging with policymakers and voicing their concerns, they stand a better chance to benefit from an integrated African market.

Borderless Alliance is a private sector-led advocacy group that promotes regional economic integration and the free movement of goods and people in West Africa, by tackling barriers to regional trade and transport.

Junior Chamber International (JCI) Ghana is a non-profit organisation of young active citizens aged 18 to 40, who are engaged and committed to creating impact in their communities. They are young active citizens who find targetted solutions to local issues that benefit and impact their communities, their world and their future.

Cashew processors want speedy establishment of Tree Crop Development Authority

September 8, 2020

The Association of Cashew Processors Ghana (ACPG) has called on the government to quicken the pace of setting up the Tree Crop Development Authority to deal with the many challenges within the cashew industry.

According to them, challenges such as unfair Raw Cashew Nut (RCN) market, poor storage, lack of appropriate finance and improper relationship among some stakeholders within the industry can be dealt with by the Authority.

They believed the authority will be in the best legal and financial position to properly regulate the industry and formulate appropriate policies in the interest of all stakeholders of the industry.

President of the ACPG, Malvin Nii Smith, explained that a major problem facing cashew processing in Ghana is the unfair Raw Cashew Nut (RCN) market, which allows exporters to dictate and mostly out price processors at the farmgate.

According to him, this has resulted in most farmers preferring to sell to exporters at the expense of local processors, making it difficult for them to compete in the RCN market.

“Exporters can afford to increase prices to take you [local processor] out because they process at a lower cost and can supply kernel to the market cheaper.

Processors locally can not afford to buy at the same prices because the cost of processing is higher.

Until the government puts up a levy or taxes on the export of raw nuts, the marketplace is not fair,” he said in an interview.

He believed that it was necessary for the government to protect local processors because they contribute significantly to the local economy.

The ACPG is confident the Tree Crops Development Authority, established under the Tree Crops Development act will bring an end or significantly reduce most of their challenges.

“The Authority will be able to determine what a fair price is. This will help all sectors in the industry to grow hand in hand,” Mr. Smith said.

The Tree Crops Development Authority is established by the Tree Crop Development act passed by parliament in December 2019, to regulate the management, production, processing and trading in tree crops like cashew, Oil palm, shea and rubber.

Almost a year since the law was enacted, though the board has been formed, the authority is yet to be operational.

Jet fuel demand to rise as airport opens

September 8, 2020

Refueling — Photo: A plane refueling. Credit: english4aviation

Consumption of jet fuel is set to rise again, after experiencing significant falls due to the COVID-19 pandemic, on the back of the reopening of Kotoka International Airport (KIA), the country’s international airport to allow in flights from around the world.

An analysis of the data from the National Petroleum Authority (NPA) by the Institute for Energy Security (IES) shows that jet fuel, also known as Aviation Turbine Kerosene (ATK), for the first half of the year, experienced a big decline of 36.8 percent, as it dipped by a huge 48.40 million liters, over 2019 figure of 131.53 million liters.

According to data from the NPA, Jet fuel uptake in Ghana was at 16.45 million liters in March, falling from 23.66 million liters in February, after the ban on both international and domestic flights was effected.

Prior to the Government of Ghana (GoG) placing stringent restrictions on travel by ordering the closure of Ghana’s land, sea, and air borders to human traffic effective midnight, 22 March 2020, jet fuel consumption in January was 25.51 million; a little above January 2019 figure of 23.3 million liters.

Nana Amoasi VII, Executive Director of IES, noted that despite favorable pump prices occasioned by recent falling of global oil prices, consumption of petroleum products across the globe experienced a dramatic fall.

“The spread of the coronavirus significantly slowed economic activity across the globe. Travel restrictions and flight cancellation across the world, as well as the closure of shops and production outlets in China and around the world, induced less demand for oil and fuels,” he said in an interview with the B&FT.

“With the announcement of the commencement of international flights into and out of the country, the demand for this essential fuel for flights is expected to grow to possibly pre-COVID-19 levels. Consumption could also possibly surge past February 2020 levels, should the momentum be maintained.

The trend of an increasing number of flights to and from Ghana will directly affect jet fuel consumption in the country. Given the recent data from the World Health Organization, the end of COVID-19 crisis seems closer. If that becomes the case, we foresee Ghana recording close to 170 million liters in Jet fuel consumption at close 2020; as airline companies, entertainment, and tourism sectors bounce back in business,” he added.

The data showed further that consumption of jet fuel got worse with the cessation of movement into and out of the Accra, the capital city via aeroplanes. In April and May, Jet fuel consumption was recorded as 3.46 million liters and 3.81 million liters respectively. April and May’s consumption was supported by fueling from international cargo flights.

Consumption spiked to 10.24 million liters at end June 2020 after the resumption of domestic flight operations on May 1, 2020, to the two major destinations from Accra to Kumasi to Tamale.

The consumption of Jet fuel in Ghana has grown steadily over the last three decades, rising from 113.51 million litres in 1999 to 287.48 million litres in 2019. Between 2015 and 2019, annual consumption has grown by roughly 37 million litres on average terms. However, for the COVID-19 crisis, consumption for 2020 could have been anywhere in the region of 320 million litres.

The data, which covered all fuel consumed locally showed that in the first half of 2020 (HY1/2020), consumption of domestic liquid fuels including Kerosene, Fuel oil, Naphtha, Gasoil (Diesel) and Gasoline (Petrol) in Ghana remained largely unchanged when compared to the same period in 2019.

The total quantity of liquid fuel consumed in HY1/2020 of roughly 2.24 billion liters, compares to 2019’s figure of 2.28 billion liters, in spite of the COVID-19 pandemic. Whereas Gasoline demand grew by 59.58 million liters (6.9%) over 2019 first half-year (HY1/2019) figure of 864.21 million liters; demand for Gasoil fell by 20.33 million liters (-1.8%) over the same period.

Freight Forwarders lament clearance delays at ports

September 8, 2020

The Ghana Institute of Freight Forwarders (GIFF) has described as unacceptable and frustrating the challenges of the paperless ports clearing system under the management of Integrated Customs Management System (ICUMS) that have contributed to avoidable delays in cargo clearing.

“We have gone back to the situation of printing all documents. There are no SLAs (service level agreements) with which one can define how long the clearance process is supposed to take. It has become normal to clear vehicles within a five-week window which is totally unacceptable,” GIFF noted in a statement.

It said, unlike the recent past where the paperless port system aided the ease of doing business and trade facilitation to enable cargo clearance within four (4) hours at the ports, the current situation is heavily reliant on printed hard copy documents which members of the trading community carry in hand from one point to the other and even sometimes to places outside the ports environment just in a quest to get their cargo cleared.

GIFF pointed out that under ICUMS, aside from the non-existence of the paperless ports system, there are several major problems with the Vehicle Valuation Calculus Tool, Manifest matching, post entries, call center, Default freight station, long delays in clearance of goods and several other aspects of the cargo clearing chain of activities.

Photo: President of Ghana Institute of Freight Forwarders (GIFF), Mr. Edward Akron

The challenges were pointed out in a document compiled by GIFF and presented to the government to seek urgent intervention to the continuous nature of the ICUMS challenges. The paper pointed out that the long delays in clearance of goods at the port lead to an accrued interest charge, state warehouse rent and demurrage through no fault of the forwarder.

However, the forwarder is the one that gets charged extra fees because of the delays caused by ICUMS. GIFF suggested that the government should reconsider taking off or extending the period for which interest charge and state warehouse rent is paid or calculated and also extending the 60-day moratorium on the clearance of vehicles.

On the challenge at the Call Center, GIFF said: “The Call Centre has virtually become non-productive as Agents move from the GPHA towers to the Customs Long Room in search of solutions to problems. This cannot be normal. It only points to inadequate training, systemic challenges, non-user friendliness of the system and that the business processes in the system have not been properly mapped.”

GIFF pointed out further challenges under ICUMS: “Declarants are unable to determine prior to the arrival of vehicles, the duty involved in the clearance of vehicles. Clarity should be brought to bear on values of vehicles due to the nature of vehicle valuation so equity will prevail.

“Another major calculus problem is that of declarations with duty exempt status. The tax base amount for VAT in these situations is flawed and this has led to improper duty payments which will give rise to future litigation and refund requests.

“Declaration created an assessment accepted by Declarant A can as well be created with the same Bill of Lading by Declarant B without any red flags by the system. Declarants can have e-Dos, electronically request for service and complete payment and yet won’t have the name of examination officer.”

GIFF also explained that there are delays in physically receiving cargo: “Cargo can be gated out of MPS Terminal 3, Carried-In and Gate-In confirmed at GJT, and subsequently allow for a successful manifest matching, and yet cargo is physically not received at GJT until after about four days’ time.

“Fees like interest charge, SWH (state warehouse rent) are neither user nor system defined. One will then have to resort to a remark in the system by Officers to go back to the Accounts section for further issuance of tax bills for these payments. It is interesting to note that these tax bills do not actually state the reason for the payment. It should also be noted that these time-bound fees become automatic if acceptance and valuation of declarations stay for more than 2 weeks.”

Members of the trading community and relevant stakeholders have raised several complaints, protests and not stopped grumbling over how trade facilitation, cargo clearance and related activities have been handed by ICUMS.

In a recent petition to the Office of the Senior Minister, Yaw Osafo-Maafo, GIFF pleaded that the challenges should be taken seriously and addressed with a sense of urgency as the Institute was bending over backwards to calm down its members that have been overly frustrated and have run out of patience.

Social system too weak to keep children until 2021 – CRI

September 8, 2020

girlsedu — Photo: A class of school children. Credit: Graphic Online

… calls for the immediate opening of schools

Executive Director of Child Rights International (CRI), Bright Appiah, has expressed concern over the closure of schools, indicating that Ghana’s social system is too weak to entrust children in it until 2021.

He said there would be so many repercussions for school children to stay home and stressed that keeping children at home for long would do more harm than allowing them to resume school.

In that regard, Mr Appiah, in a statement, called for the immediate reopening of schools to cover the basic level. According to the organisation, allowing second-year students in both Junior and Senior High Schools to resume classes while the rest of the school children stay at home would be detrimental to children’s growth.

Explaining the CRI’s reason, Mr. Appiah said the corporate environment in Ghana had not adjusted its timelines to allow families to spend more time with their children, adding that the television and media stations “do not have adequate educational programmes to aid children’s academic growth.”

“In view of that children still have access to content that is meant for adults. Additionally, no attempt has been made to regulate the internet space to make it safe and conducive for children to watch educational materials at home. The space is too loose that it has the potential of causing more harm to children than to be in school,” Mr Appiah said.

Corona scare overblown

Per CRI’s statement, if the decision to keep schools closed is born out of the fear of a possible outbreak of the coronavirus among the children, then the government has no worries to reopen schools because children’s rate of transfer is the lowest.

The statement said research has shown that the behavior of COVID-19 transfer among children is the lowest recorded since the outbreak, adding that among children who would contract the virus, less than 1% would show severe symptoms.

“In Ghana, more than 500 children contracted the virus when schools reopened for SHS and JHS to sit for their final exams. Out of that only 30 showed mild symptoms and only 7 or less showed severed symptoms and no students died as a result of COVID-19.

The figures above only occurred at the SHS level where over 270,000 were allowed to go back to schools. So far no records available show that student at JHS contracted the virus and transmitted it to the adult population who are the vulnerable groups,” CRI explained.

The statement said the government’s intention to let schools remain closed as a way to manage coronavirus outbreak among the children has been overblown. CRI believed that keeping schools closed because of the fear of students contracting the virus should they resumed full academic activities should never be a major bother or concern to the state or parent.

Per CRI’s statement, the government could have gone ahead to reopen schools by enhancing the nutritional value of students through the food they consume on its “one hot meal a day,” programme.

“A nutritionist could have been engaged in such a way that the food given to school children would have adequate nutrition to boost the immune system of the children,” it added.

Additionally, CRI recommended the redesigning of the school environment in such a way that everywhere students go, the social environment would speak to them about the need to adhere to COVID-19 protocols. ” This can be done in a way where COVID-19 educational materials would be placed on notice boards, canteens, hallway and other places where school children encounter each other,” the statement said.

In large classes, CRI said school children could be made to break into group so while “one group is learning the other group will be on the field.”

Dangers in shutdown

Outlining some of the dangers in keeping schools closed, CRI mentioned child labour, child abuse, especially, in rural communities could spark as a result of children staying at home.

The organisation said efforts had been made by stakeholders to help combat the issue of child labour, indicating that a research conducted in over 1200 communities revealed a 38 per cent rise in child labour. “Imagine in a case where these children are made to stay at home for the rest of the year, what would happen,” CRI asked.

Gov’t to make mandatory employment data from awarded contracts

September 8, 2020

Photo: Ignatius Baffour Awuah, Minister of Employment and Labour Relations

The Ministry of Employment and Labour Relations is pushing for a mandatory labour based planning document to be attached to all government projects moving forward. According to the ministry, the move will afford the government the opportunity to track the number of people each of its projects employ and uses the data for planning purposes.

The Minister of Employment and Labour Relation, Ignatius Baffour Awuah, said the labour-based project planning initiative is being aggressively pushed at cabinet level and is likely to be a key feature in all government projects soon.

“In whatever we do, no matter the ministry, department or agency, the issue of job should be core. For instance, if a contract is being given for the construction of a road, we usually ask for how much price and date of completion but hardly do we ask for the number of people that you are going to engage in executing that particular project.

So, one of the issues that the Ministry of Employment and Labour Relations has been championing at cabinet is to do an advocacy for labour based planning in almost everything that we do. I want to believe that, should we continue our work after the election it will come up.

At the National Tripartite Committee level and the Social Partnership level, we have been discussing this thoroughly. Without planning for labour in our day-to-day management issues, we may concentrate on some non-core issues,” Mr. Baffour Awuah said at the 12^th National Development Planning Commission Forum on the theme: The Future of Work in Post COVID-19 Ghana.

Speaking on the theme, Mr. Baffour Awuah said the pandemic had exposed the weaknesses of the labour market, business report systems, and social protection. As a result, “The challenges for the future of work are eminent and COVID-19 has given us a foretaste of things to come”, he added.

For him, this is why a labour based planning document would be important as the government would use the data to develop deliberate policies to drive employment numbers upward and identify the number of people each sector can employ.

He hinted that there was a need to also have a look at other sectors such as farming where climate change, deforestation and water pollution are already pushing a lot of farmers in the rural areas out of work because the soil is no longer good for farming. He said that as the country prepares to enter the post-COVID-19 era it must learn lessons and put in place sustainable policies, measures and mechanisms to ensure social justice and effective transitioning into the future.

“We must invest in technological and innovative work processes to promote the employment and productivity enhancement objectives of government, and also invest in effective business development policies and programmes that provide support and ensure that enterprises are resilient to the changes anticipated for the future of work in Ghana,” he added.

‘Include Remote Working policy in Business Continuity Plans’

September 8, 2020

Photo: Kwaku Agbesi, the Managing Director in charge of Jobs at Ringier One Africa Media (ROAM) and acting CEO of Jobberman Ghana

In light of the disruptions caused by the ongoing pandemic and the uncertainty regarding the full extent of its cost, financial and otherwise, as well as the possibility of another disruptive event, globally or locally, leading recruitment solutions firm Jobberman has called for mandatory inclusion of Remote Working Policy in the Continuity Plan of businesses across the operating spectrum.

Speaking to the B&FT in a wide-ranging interview, Kwaku Agbesi – the Managing Director in charge of jobs at Ringier One Africa Media (ROAM) and acting CEO of Jobberman Ghana, stated that with the plethora of Tech solutions to allow for sustained if not increased productivity, it would be imprudent for firms not to adopt the strategy.

For him, a conversation around the subject matter by businesses and regulators with a view to standardising the practice must be had sooner rather than later, being fully aware that disruptions to individual firms can have a domino effect on other firms and entire industries.

“No one saw COVID-19 coming. As a matter of fact, even the best-prepared companies were taken unawares by the extent to which the pandemic has affected life. However, what we see is that the best-prepared firms were those who not only had a BCP but had also incorporated technology – which allowed for a smoother transit to remote working for staff.

“In the future who knows what’ll happen next? Another plague is bound to happen, if not across the globe then perhaps locally. As part of BCP, you should be able to put in measures such that your employees do not have to be in the physical workspace to be able to continue being effective. Technology has made this very possible, and employers, employees and regulators must embrace, even demand it,” he said.

Mr. Agbesi further revealed that in his interactions with some business operators, they are exploring the possibility of forgoing a permanent office space in favour of a temporary meeting place for the foreseeable future, as their operations have not been hindered by remote working.

While he admitted that the dynamics of most firms won’t allow for entirely remote working, he stated that even businesses like factories, which require hands present, must move toward employing technology to promote a shift system.

“Admittedly, it would be harder, if not impossible, to work remotely at a factory because of manual labour requirements; but even at places like factories, there should be a way for companies to let some staff work remotely while others run a shift-system – perhaps a morning and evening shift.

“Even this would be enhanced using technology like Excel spreadsheet for the roster, which can be sent via email or WhatsApp to reduce face-to-face interaction and provide a basis for records,” he stressed.

Despite lauding government for the implementation of a digitisation agenda, he admitted frustration that at institutions like banks use of the Ghanapost GPS address to validate customers is not yet widely applied, and tasked the authorities to ensure more compliance.

Blue Band manufacturer-Upfield celebrates 2nd anniversary with a return to growth

September 7, 2020

Interview: Upfield West Africa innovates and expands the Blue Band portfolio — Photo: Managing Director, Upfields West Africa, Moses Amao.

Upfield Foods, the new owner of iconic spreads brands including Blue Band, Rama and Flora, celebrated its second anniversary recently. Interestingly, Upfield announced a global return to growth this year following 11 years of declining revenue. Upfield bought the spreads business from Unilever in 2018 and has delivered this turnaround in just two years.

Managing Director, West Africa, Moses Amao, shares more about the journey so far and the company’s vision for the future.

Two years ago, Upfield was created by the acquisition of iconic spreads brands including Blue Band, Flora and Rama among others. How has the journey been since inception?

Upfield is a growth company globally and we are quite pleased that in two years we have taken a business that has been in decline for over 10 years under its former owner and moved it to sustainable growth. We are harnessing the knowledge and expertise of a pioneer with the agility and pace of a start-up to redefine the spreads category and foods business as a whole and we are seeing positive outcomes. We finished 2019 in a strong position in West Africa having built steady momentum quarter by quarter and continue that journey in 2020.

Tell us about Upfield as a company and its purpose as a business.

Upfield’s purpose is to make people healthier and happier with great-tasting, nutritious products that are good for you and for the planet. Upfield is the foremost producer of plant-based spreads and cheeses globally with more than 100 brands in its portfolio. At Upfield, we believe in a global food system that can promote sustainability and public health, through a shift towards more plant-based diets, which have been proven to be healthier for people and better for our planet. This we are doing by encouraging people to move towards plant-based diets, producing and making such foods available, advocating for policy incentives, and establishing partnerships that promote healthier, more sustainable foods.

How do you intend to deliver this purpose in Ghana?

Interestingly, Upfield is currently the only company manufacturing spreads locally in Ghana. Our nutritious brands are proudly made in Ghana while still harnessing the benefits of being part of a global operation. With our manufacturing plant in Tema producing Blue Band and Rama margarine, we source a lot of our key ingredients including Palm Oil sustainably from Ghana; actively contributing to the local economy. These products manufactured in Ghana are currently sold in several African countries including Cote D’Ivoire, Mali, Burkina Faso, Niger, Togo, Benin and Cameroun. We see ourselves leading the nutritious food space in Ghana and West Africa as a whole in the coming years.

Blue Band is one of the most recognized food brands with a strong legacy on the African continent including in Ghana. How are you building on this legacy at Upfield?

Blue Band is indeed well known and loved in Africa and remains the spread of choice in most Ghanaian households as it provides affordable access to healthy nutrition for the whole family. One of the things we are especially proud of is that transfats have been removed from Blue Band and the current formulation is healthier and more nutritious than it has ever been. We are however not resting on our oars and plans are in place to continue improving on the formulation of our brands by adding on more nutrients and vitamins to deliver even better value to consumers.

How has Upfield been able to upturn the spreads business despite facing the same challenges as its previous owners including the volatility of some economies in Africa?

Our strategy has been one of aggressive growth. We were careful to acquire iconic brands with a strong heritage which we then injected new life into by putting innovation at the heart of all our brands. We expanded our distribution channels in-country and beyond to support our growth strategy. We are also investing significantly in our manufacturing plants as well as in our human resource to enable the growth we seek. 2020 has been challenging due to the pandemic but because our products are essential foods, the demand remains strong across the region and we are building on that demand for growth.

Speaking of COVID-19, how has the pandemic affected your business and what has been Upfield’s approach to meeting market and other demands at this time?

At Upfield we are driven by our three values, Performance, Passion and Care, and these guide our response to every challenge we face. We cannot deny the pressure that the pandemic has caused businesses from border closures which impacted our export sales to movement restrictions and the reduced purchasing power of consumers. We have however faced it with out-of-the-box thinking in our marketing and sales to ensure we deliver on Performance. Our associates, which is what we call our employees, embody the value of Passion and we have supported them with various internal initiatives to keep the team healthy and inspired to perform even in this challenging time.

We have also embodied our value of Care by reaching out to the communities in which we operate at this critical time. In Ghana, we donated our nutritious, great-tasting Blue Band products to support the Government’s initiative to care for vulnerable communities and provide much-needed healthy food to low-income families. Upfield recognizes our heightened responsibility during this pandemic to ensure our nutritious, quality foods are consistently available to consumers and we are going the extra mile to ensure they are available on shelves across the country and region.

What are Upfield’s plans for the future in the short and long term?

Innovation will be critical for us. While we continue to grow our core products which are margarines and spreads, we intend to extend our brands into other nutritious food products to provide delicious options for our discerning customers. We will therefore invest in products where we have a competitive advantage to grow our revenue and our brand portfolio in line with our purpose and strategy.

We will also expand our distribution network in Ghana and across West Africa. We are investing heavily in our manufacturing plant to ensure we can cater to new lines and increasing production volumes. Our Professional Services business is also beginning to expand with the recent launch of our baking margarine which we will be exploring further to deliver consistent profitable growth.

Our long term strategic vision for “A Better Plant-based Future” aims to drive positive change in people’s health by encouraging them to embrace healthier food choices which are good for them as well as for the environmental sustainability of the planet. We, therefore, want to ensure that along with business growth, the positive impact our business has on people’s lives is tangible whether it’s through our products, our sustainable business practices or our social mission for communities.

SDIs seek to tap into GAT

September 7, 2020

Photo: Managing Director of Ghana Amalgamated Trust (GAT), Mr Eric Nana Otoo. Credit: Graphic

… ready for stated capital increment

Specialised Deposit-Taking Institutions (SDIs), especially finance houses and savings and loans companies, are pushing the government to expand the Ghana Amalgamated Trust Limited’s (GAT) scope to support them with secure and cheap funds, as they ready themselves for a capital increment directive from the central bank.

The SDIs, which are the biggest financiers of Small and Medium Enterprises (SMEs) in the country, believes the injection of such patient capital in their operations will allow them to focus on their core job of supporting the growth of SMEs.

In interviews with two CEOs of a savings and loans company and a finance house, they noted that the financial sector clean-up and the effects of COVID-19 on their operations -though having made them resilient – made it difficult to raise fresh capital from existing shareholders, and the GAT route will allow them to take on more risks in financing SMEs to help with economic growth as well as increase their portfolio.

The Ghana Amalgamated Trust (GAT) is a special purpose vehicle established by the government to support solvent and well-run indigenous banks which were otherwise having difficulties meeting the new minimum capital requirement by the Bank of Ghana. GAT raised and injected GH¢800million into four banks, which has allowed those institutions to continue operating.

Photo: Philip Odei Asare, Managing Director-Best Point Savings and Loans

Philip Odei Asare, Chairman of the Ghana Association of Savings and Loans Companies (GHASALC), told the B&FT that the sector needs help to mobilise all the funds available at the very lower end of the market into the banking system to support the economy; and that can be done aggressively if SDIs are given some more attention by the regulator and other stakeholders.

“When commercial banks which could not meet the capital requirement of the central bank were being liquidated, some of them were supported through a structure called the Ghana Amalgamated Trust Limited (GAT). Through that, the government went to parliament to get approval for supporting local entities that are making contributions to our economy today; why can’t we do the same for Savings and Loans?

“We understand that we need the Savings and Loans to make the banks strong. If the banks have been saved, why do you allow the Savings and Loans to go? Why can’t we support them so that they continue to be a channel between the low-income customers and commercial banks?”

He is not alone in this call: William Arthur, Chief Executive Officer, Forms Capital – one of

Photo: William Arthur, Chief Executive Officer-Forms Capital

the country’s formidable finance houses – also made a similar call for his sector. To him, the current times call for some special attention from the central bank. He said that even though many of them are in good standing, a liquidity support programme through the GAT would be a major boost not only for the sector but also the economy.

“What they (BoG) should do is to provide liquidity support,” Mr. Arthur told the B&FT in an interview. He wants the central bank to critically factor this proposal into some of the measures it plans to deploy to ensure a liquid financial sector.

“They already have a way of dealing with the banks. One of such is direct liquidity support from the central bank, but the Ghana Amalgamated Trust Limited (GAT) arrangement is one that I would recommend. The GAT arrangement is a good model that can be used or re-modelled to support our sector with some liquidity.

“We need funds at a much secured and cheaper rate. This could also be a way of rewarding well-managed and governed institutions which adhere to all the regulations. It would help us to not only perform our mandate properly but also we could be of great benefit to the entire economy.

“SMEs constitute the largest and most active sector of the economy and businesses; therefore, anything that is done to support the financing of such a group of people will reflect positively on the economy,” Mr. Arthur said.

Recapitalisation journey

With the recapitalisation of banks complete, the central bank has turned its attention to the SDIs sector. Rural banks and microfinance companies have seen their stated capital increased by the regulator. Though deadlines have been moved a couple of times, these institutions are left with no choice but to increase their capital.

Currently, savings and loans companies and finance houses operate with GH¢15million as stated capital. But with increasing non-performing loans due to the COVID-19 pandemic, the need for these SDIs to increase their stated capital has become urgent.

The of central bank Governor, Dr. Ernest Addison, recently hinted that he will be announcing a capital increment directive to the SDIs as a result of the Coronavirus (COVID-19) pandemic which has eroded their capitals. Dr. Addison is convinced that a recapitalisation of SDIs will be “necessary” to help bolster their resilience and guard depositor funds under their care against losses.

20,068 new HIV cases, 13,616 deaths recorded in 2019 – AIDS Commission

September 7, 2020

Data from the Ghana AIDS Commission indicates that 20,068 new HIV/AIDS cases were recorded in the country during 2019 from the 19,000 recorded in 2018. Out of this, AIDS-related death was estimated at 13,616.

Children between 0-14 years constituted 2,972 cases, representing 15 percent of the new cases recorded; the youthful population of between 15 – 24 years numbered 5,613 which represents 28 percent. Out of the youthful population, 1,205 were males while 4,409 were females.

In total, persons living with HIV/AIDS in the country are 342,307; males number 122,321 representing 36 percent while females are 219,986, representing 64 percent.

Apart from the deaths, which recorded a decline from the 14,000 recorded in 2018, all the other figures increased. The Commission noted that issues of stigma remain key in the fight against the spread of AIDS in the country, as the stigma index among people living with HIV is 18.1 percent. The index represents the level of perceived stigma and discrimination experienced among people living with HIV.

The GAC is worried that if care is not taken, these figures might see some drastic and dire changes due to the impact of COVID-19 on the management of cases in the country. The Commission noted that the supply of antiretroviral drugs to treat HIV infection has faced some challenges due to supply chain disruption caused by COVID-19.

Also, the imposition of the partial lockdown troubled some people living with HIV, as they could not embark on any meaningful economic activities to feed themselves – with some also losing their jobs. This has culminated in the inability of some of them to regularly take their drugs to keep healthy, because they may not be able to eat the requisite meal to support the drug’s efficacy.

A global study has indicated that if there is a disruption to the supply chain in the provision of antiretroviral drugs to treat HIV infection for the next six months, there will be about 500,000 more deaths.

In Ghana, a survey conducted by the World Food Programme in 1,666 households of HIV/AIDS persons in four regions – Western, Central, Bono and Northern – indicated that 21 percent of the households had vulnerable people who were food insecure.

“For that matter, it will affect their health and their ability to take medications as well. All this will impact on our programmes by causing more havoc; so, it behoves us to intensify our campaign and interventions,” the Director for Technical Services at the Ghana AIDS Commission, Dr. Fred Nana Poku, told the B&FT in an interview.

“Due to the outbreak of COVID-19 around the world, all attention has been geared toward the virus – relegating HIV/AIDS to the background. Both viruses need to be pursued without leaving anyone behind because both are national concerns. Also, we have come to realise that stigma is very prevalent despite the many works we have done. It has reduced, but not at the rate we expected. We want Ghanaians to change their attitude toward people living with HIV,” he said.

Work-from-home increases risk of cyber-attack on banks’ systems – Abiola Bawuah

September 7, 2020

Photo: Abiola Bawuah, Regional CEO-West Africa at UBA

As banks increasingly allow some staff to work remotely, especially at home, the likelihood of cyber-attacks is higher than working in the traditional banking environment, Abiola Bawuah, Regional CEO-West Africa at United Bank for Africa (UBA), has said.

She said banks, just like other businesses trying to reduce the number of staff reporting to work on a daily basis to comply with COVID-19 protocols, are allowing workers to operate outside the traditional office environment.

This she maintains presents the sector with a new cyber-security threat because banks have very little control over the security of staff operating from home.

Mrs. Bawuah said the safety of Internet service; and as well as activities of fraudsters expose workers operating from home to danger.

“Remote work has become the new norm. We are going to get to a situation where there will be a lot of remote working; but as we introduce a lot of this into the system, you will get to a point where a lot of people are going to access your system from their homes; how will you know if they are there with fraudsters? You won’t know, so that is part of the risk that I am talking about,” she said.

Mrs. Bawuah spoke to the B&FT in Accra during the maiden Chartered Institute of Credit Management, Ghana (CICMG) presidential ball and graduation ceremony. The ceremony was on the theme ‘The era of COVID-19 conundrum: the increase of cybersecurity threats in the banking and financial services industry’.

She said cybersecurity risks have become real as financial institutions progress in “channelling most of our products through digital means, and because there is the human element there is that risk – the temptation for people to hack into your system”.

Mrs. Bawuah’s fears are not unfounded. On July 2, 2020, a petition was received by the police that a criminal remotely logged into the banking software of a bank and used the log-in credentials of a staff who was on leave at the time – to transfer money to the tune of GH¢46million to eight individuals in different banks.

Meanwhile, according to the Cyber Crime Unit of the Criminal Investigation Department, the country lost US$97million to cybercrime-related activities between 2016 and 2018. These funds, Mrs. Bawuah added, are huge and could have been used to develop many sectors of the economy.

Banks are up to the task

On whether the industry can step up to the challenge posed by having staff work from home and the entire cybersecurity risk, she said most banks have intensified their efforts and are improving their systems on a daily basis – which to her gives confidence that the sector can overcome it. She, however, added that the fight against cybercrime is not a one-day thing but a continuous process:

“It is day in, day out; so I think banks will certainly overcome that. The continuous role played by technology and its increased use also comes with heightened threats of potentially exposing financial institutions and the public to risks of financial losses. It is therefore expected that as we embrace technology more as a consequence of the pandemic, that risk will be heightened; and this will require greater collaboration between banks, the Bank of Ghana, security services and industry experts to deal with this threat,” she stated.

The need to properly scrutinise staff

According to her, the increasing threat of cyber-related crime within the banking industry is a wake-up call for all players to beef-up internal security; and one of the surest ways to go about this is to conduct proper background checks on all employees, particularly those with access to sensitive information. This, she explains, will help banks to limit cybersecurity risks and foster customer confidence, as the sector transitions to the new way of banking.

Graduation

The ceremony saw 35 passing out as chartered fellows in credit professionals, five as associate members, seven as honorary fellows and five as chartered fellows. Executive Secretary of the Institute, Agyepong Amo, said since its inception six years ago CICMG has churned out about 200 risk and credit professionals and is committed to doing more in the years ahead.

To create maritime hub, economy requires its own vessel – Captain Amanhyia

September 7, 2020

The nation’s industrialisation and infrastructure development agenda begs the acquisition of a vessel that will help it mobilise the necessary materials needed not only to facilitate economic growth but also make Ghana a maritime hub on the continent, William Amanhyia, Branch Secretary of the Nautical Institute has said.

Acknowledging the huge expenditure in embarking on such a venture, Captain Amanhyia noted that with the hosting of the secretariat of the African Continental Free Trade Area (AfCFTA), development of railway infrastructure, Ghana, now more than ever, needs to marshal resources or collaborate with the private sector to acquire a vessel for national purposes.

“AfCFTA is great news for the maritime sector, and the nation must do all in its power to boost fortunes of the maritime sector by being the first African country to acquire a vessel for training and trade purposes.

“It is expensive but we can do it. Government has a big vision, for example, with the railway project; we can buy a ship to commute all the materials for our infrastructure and industrialisation initiatives. Now we have the AfCFTA, and that is also coming with some great opportunities on the continent. We keep talking but no one is listening,” Captain Amanhyia told the B&FT in an interview.

Training and employing the youth

He added that the move can help give meaningful remuneration to many Ghanaians since the sector is supervised and regulated by international standards – with the well-being and safety of seafarers being paramount.

“The economy of seafaring is very good, but most people in Ghana do not know about it. That is one of the things we want to change. First of all, seafarers need a training ship. If the Ghana seafaring community gets a training ship, particularly the Regional Maritime University, unemployment will reduce drastically.

“The maritime industry can employ 500-1,000 people every year, but we need to train them. The problem is that nobody wants to train the seafarers, they want people who are already cooked; training the seafarers is very expensive, and that is why the government needs to take the initiative. The only thing they can do is that they should be able to buy a training ship for us,” Captain Amanhyia said.

Cost of vessels

A 500 to 1,000 passenger capacity vessel costs a cruise line about US$394million with a 1,000 to 2,000 passenger vessel costing US$442million; while a ship with space for 2,000 to 3,000 passengers costs an average of US$555million.

“African nations do not understand that seafaring skills have become a strategic asset. Most companies globally want to employ from Africa because the Europeans do not want to go to sea again. Nobody wants to go and spend three months outside living without his family, but we are very lucky that in Africa our family system is okay with it. This is the time we need to take advantage and get the best benefit out of it. We have been talking to governments all over Africa, but they seem not to care,” he lamented.

He added that Africa does not have a training ship. “America has just bought five brand-new ones for the nation and each of them is able to take 600 people; multiply that by five and you realise that they are able to bring out 3,000 seafarers every year; we can do something like this as well, and we want the Ghana Maritime Authority to spearhead the process.”

Meanwhile, B&FT has gathered that the Ghana Navy has begun the process to build some ships locally – but not to the scale for international trade.

Activa pays insurance claim of over GH¢449,000 to FOCOS Orthopedic Hospital

September 7, 2020

Activa International Insurance Company has paid GH¢449,319 as insurance claim to FOCOS Orthopedic Hospital for damage to the hospital’s CT scan equipment.

Receiving the cheque on behalf of the hospital, Prof. Boachie-Adjei said the hospital’s management team were really amazed and impressed with the professionalism displayed by Activa International Insurance; and speed of processing the claim and making payment in the shortest period for the CT scan machine damage, as it is key to the hospital’s operations.

Presenting the cheque to the hospital, newly-appointed Managing Director of Activa International Insurance, Mr. Benjamin Yamoah, explained that this forms part of Activa’s business objective to pay claims promptly – and is a recognition of the hospital as a strategic place for healthcare delivery in the country.

“In this COVID-19 era, FOCOS Orthopedic remains one of the key healthcare delivery facilities; so Activa International Insurance is happy to honour its obligation to the hospital,” the Activa MD said.

Mr. Edmund Awuku, General Manager-Technical & Operations of Safety Insurance Brokers Limited (SIBL), said as Brokers for FOCOS they always ensure they place clients’ risks with credible insurance companies who have the financial muscle to pay claims promptly so as to ensure business continuity when a claim arises – hence insuring with Activa International Insurance.

On her part, the Medical Director of Focos Orthopedics Hospital, Dr. Irene Adorkor Wulff, expressed delight with the speed at which Activa Insurance paid the claims on the CT Scan equipment, which has enabled uninterrupted operations for the hospital.

‘Don’t put all your financial eggs in one pot’

September 6, 2020

IMG-20200906-WA0011 — Photo: Mr. Tonyi Senaya CEO of Horseman Shoes, left, Mrs. Comfort Ocran, Executive Director of Springboard Roadshow Foundation, middle, and Afro-Soul artiste, Quayba

-Young entrepreneurs advised

The proprietor of Clearpower Ventures, Mr Clearforce Tetteh has urged fellow young entrepreneurs to diversify their product offerings to help survive the uncertainties of the COVID-19 pandemic.

Sharing his experiences alongside other beneficiaries of the COVID-19 Recovery and Resilience Programme (CoRe), he said although he was an electrical contractor, he has now ventured into selling of foodstuffs as a supplementary source of income in order to survive the challenges of the pandemic.

The CoRe programme is an initiative of the Springboard Road Show Foundation, in partnership with Solidaridad and the Mastercard Foundation. The programme is supporting over 692,000 young people in the country to survive and thrive during and after the COVID-19 pandemic.

My Tetteh who is a beneficiary of the YIEDIE Programme participated in the weekly CoRe Hangout on the theme ‘Business In Crisis; ensuring survival post-COVID-19.’

“I am an electrical contractor and I work for real estate companies; but with the blow from COVID and the financial issues it has brought upon the companies we work for, they are not able to pay us. We keep working and our resources keep going but our clients are unable to pay us

“So then what do you do? I sat down, strategized and started selling electrical materials and food items. My fellow entrepreneurs have to diversify their businesses. If services doesn’t go well, people eat everyday so if you don’t make money from the services side, you will end up selling something.

“You don’t have to put all your finances in one pot. When the pot gets broken you will be in trouble,” he stated.

Ten years journey of Horseman shoes

The CEO of Horseman Shoes, Mr Tonyi Senaya, also shared the story of his ten-year journey in the business of making shoes.

“It’s been quite humbling and very fulfilling. Something that started in a bag pack has travelled a lot of hurdles to be ten years. It is not easy but we believe we could have been somewhere higher than where we are now.

“The journey has been that of hard work, tears, sweat, blood and lot of learnings. There have been high moments and we have rediscovered ourselves at several points. All in all its been a great and difficult journey but a fulfilling one,” he pointed out.

Commenting on how COVID had impacted the business, he said the partial lockdown was a very difficult period for the business and for him personally.

“I was thinking about how we were going to survive because for six weeks we had not made any sales. When the first two cases were announced, our sales dropped that week, the following week, no enquiries were made, not even a phone call or Whatsapp enquiry, so we decided to close down even before the president asked us to stay at home.

“We lost lots of money during the period because social gatherings such as weddings, parties and birthdays were the drivers of our sales and all of these events were put on hold. I, however, used the lockdown period to design a new line of shoes for ladies, ” he explained.

He said, even when the restrictions were eased, sales did not pick up immediately but started picking up around July when the fear and anxiety began going down.

Mr. Senaya, who is also a Springboard alumnus, referenced his learnings from the 2009 roadshow as the foundations of his resilience as an entrepreneur.

Although sales had picked up, he said it was still not yet at the levels of pre-COVID sales.

Creative industry

Also speaking on the programme, Afro-Soul artiste, Quayba, said the COVID-19 pandemic had hit really hard at the creative arts industry, the sector she finds herself in.

“I am in the creative industry and our industry thrives on people coming together so young and up-and-coming musicians probably had the biggest hit with the COVID situation,

“But out of tragedy comes some of the greatest triumphs so a lot of artistes have used this time as a period to let our creative juices flow. It has also allowed us to be innovative, which has led to lots of virtual concerts. So yes, it hasn’t been great but we are finding ways to survive,” she noted.

Writing About Writing with Nana Elikem: Ray Bradbury’s greatest writing advice (II)

September 6, 2020

Last week, I shared six of Ray Bradbury’s greatest writing advise. This was originally compiled by Emily Temple for Lithub. These collections come from speeches delivered/interviews granted by Bradbury. Temple describes Ray Bradbury as the greatest sci-fi writer in history who also knows a thing or two about writing.

I got a lot of feedback from the first set of six pieces of advice I shared on my Facebook page. Most people were inspired and moved to take their writing more seriously. There was so much disagreement with Bradbury’s thought on writer’s block. These are all useful ways of engaging with advice so I welcome any form of feedback at all on these thoughts of Bradbury.

As I mention last week, some of them will resonate with you. Some are cliché. Some of them, you might disagree with. Some will challenge you. Some you might outrightly reject. Whatever your reaction is to these pieces of advice, one thing is sure. Collectively, they will make you a better writer.

Here’s Bradbury for you…

Write only for yourself

You can’t write for other people. You can’t write for the left or the right, this religion or that religion, or this belief or that belief. You have to write the way you see things. I tell people, make a list of ten things you hate and tear them down in a short story or poem. Make a list of ten things you love and celebrate them.

Use every experience that touches you

Any experience that touches you, in any particular way, is good. It can be a horrible experience. I saw a car crash when I was 15 here in Los Angeles and five people died as a result of it. I arrived at the scene within 20 seconds of hearing the collision. It was the worst mistake I ever made in my life. I didn’t know what I was running into. People had been horribly mangled and decapitated. So, for months after, I was shaken. It’s probably the reason I never learned to drive. I was terrified of automobiles for a long time after that but I turned it into a short story called “The Crowd” six or seven years later. . . So out of this horror—this really terrible event—you take something that has taught you a certain kind of fear and you pass on to others and say, ‘This is what the car can do.’

Indulge in your own personal madness

If you want to write, if you want to create, you must be the most sublime fool that God ever turned out and sent rambling. You must write every single day of your life. You must read dreadful dumb books and glorious books, and let them wrestle in beautiful fights inside your head, vulgar one moment, brilliant the next. You must lurk in libraries and climb the stacks like ladders to sniff books like perfumes and wear books like hats upon your crazy heads. I wish you a wrestling match with your Creative Muse that will last a lifetime. I wish craziness and foolishness and madness upon you. May you live with hysteria, and out of it make fine stories — science fiction or otherwise. Which finally means, may you be in love every day for the next 20,000 days. And out of that love, remake a world.

Don’t be afraid to write crap

Whatever it is—whatever it is, do it! Sure, there are going to be mistakes. Everything’s not going to be perfect. I’ve written thousands of words that no one will ever see. I had to write them in order to get rid of them. But then I’ve written a lot of other stuff too. So, the good stuff stays, and the old stuff goes.

Get comfortable with the idea of work:

Let’s take a long look at that faintly repellent word WORK. It is, above all, the word about which your career will revolve for a lifetime. Beginning now you should become not its slave, which is too mean a term, but its partner. Once you are really a co-sharer of existence with your work, that word will lose its repellent aspects.

And you’ll never really have to do it:

I write all the time. I get up every morning not knowing what I’m going to do. I usually have a perception around dawn when I wake up. I have what I call the theatre of the morning inside my head, all these voices talking to me. When they come up with a good metaphor, then I jump out of bed and trap them before they’re gone. That’s the whole secret: to do things that excite you.

Surround yourself with true believers

Get rid of those friends of yours who make fun of you and don’t believe in you. When you leave here tonight, go home, make a phone call, and fire them. Anyone who doesn’t believe in you and your future, to hell with them.

Write a little every day

Action is hope. At the end of each day, when you’ve done your work, you lie there and think, Well, I’ll be damned, I did this today. It doesn’t matter how good it is, or how bad—you did it. At the end of the week you’ll have a certain amount of accumulation. At the end of a year, you look back and say, I’ll be damned, it’s been a good year.

Live in the goddamn library

Live in the library! Live in the library, for Christ’s sake. Don’t live on your goddamn computer and the internet and all that crap. Go to the library.

***

That’s my space, folks! Until next time, don’t forget, it can only get better and we can only get better.

Nana Elikem

[email protected]

This is Leadership: Circling

September 6, 2020

If you have a good circle you don’t need consultants

It’s sometimes proper to be contained within a circle. Being inside a circle and thinking outside the circle is actually one of the best things to do. Yes, people sometimes run round and round in circles but forget to think outside the circle. The answers could go beyond your circle which is why we may call for an extension of the self.

On your journey to Leadership development, it is critical to know that forming, finding and nursing circles are key to your progression as you continue to lead. Get to find, know and form your circle and start circling. You don’t have to be a kingpin or a honcho.

Just know your circle. Find one and form it. It could be boundaries. It could also be a territory with like-minded colleagues as members and players. A circle should help you learn quickly from the kind of friends you make within an organization or even a society- I mean your circle of friends. If you have a good circle you dont need consultants.

Just like every opportunity, there are also implications in keeping close friends within a circle at the workplace. It’s not about how wide your circle is. It’s about how effective your circle is. Don’t expect too much from your circle because the members may not be the giving type.

So you have to learn to contribute to the circle just so members may learn from you. Think of what you can rather give. Giving also makes you happy. If you find a circle, take time to know the players. Keep the circle close, keep it protected, secure it, respect it, grow with it and grow it. You don’t know when you’ll be asked to carry the mantle.

In circles, members err. It’s only a sign that they are human too. Allow space to be hurt because these instances are sure to happen. Those who sincerely like you shall correct you. They will demand performance and also stretch your competences to sometimes make you feel worked out. These are the colleagues you surely need in your circle. Annoying. Aren’t they?

Those who had this thinking have always been smart to keep tough circles with tough colleagues. The circle should have a mix of associates who would dare to ask the most difficult questions you always wished nobody did. Don’t build walls so high that people can’t climb. You can build transparent walls where you will be very approachable and you will still earn your respect. A leader should stay close to the team so he can teach them and must be far so he can lead them. In the circle, play the follower and the leader at the same time to increase cross-learning.

The circle works well if you do have a mix of controversial cronies and some parent-like friends. Blend the circle with junior and senior colleagues. To make you a better person, get more of the constructive critiquing extroverts who will shape your deeds by day. Get the worriers and some fearful hearts who will help you manage your exposures and risks. Manage them and keep them at every stage of your career decision. Dance with them when you are happy. A dancing circle is a happy circle. It’s however smart to cry alone on the journey to Leadership development, but share challenges for solutions with them if you have to.

Within the circle, deal with issues and not people. Stay above the fray and lead people. See the best in situations, and know that no situation is permanent. Worries, happiness and even achievements are not permanent. Have a family within your circle. Family may not be part of the workplace, but when the chips are down, they are your support. Hold yourself well and push your teams.

There are several reasons why a team may underperform and may not want to flow. What some leaders often forget is that, there are equally several reasons why the team must work harder, exceed performance and flow.

In the office circle, work ethics must be high and must be on point. Plant some hard work in your system and contribute to the circle. In circling, you should be seen connectedly inspiring, exuding doses of passion and showing the way.

In the circle, learn not to regret. Learn through mistakes and rather think about your actions and your inactions. See leadership as an enterprise. Make things happen and enjoy the profits thereof.

In the circle, love life and love yourself. Be strong and be confident. Never be the weakest link. Bring something to the table. The book, ‘Teach your team to fish’, by Laurie Beth Jones hints that successful teams are those that understand that the desired end product is transformation, not transaction.

That is all there is in circling. Always think like you’ll be part of the circle forever. This is how to get something out of the circle. Don’t just make friends within the circle, be a friend within the team. Circling would not allow you to sit all alone by yourself. It helps you find solutions to your matters by connecting to other people’s lives and understanding how problems are solved with experience.

Interestingly, it has a spiritual view in the transformation process of things relating to you, your immediate environments and the world at large. Just being part of a circle creates that platform for up-skilling, networking and enriching the art of appreciating self and others.

Circling gives you that magic experience of being noticed. Remember that a friend of your friend becomes your friend. Networking. Being part of a circle reveals your blind spots and thus gives you another eye.

You will also enjoy life and most often flow with your team. You never miss out on key events and thus circling creates very deep and sharp opportunities to get you connected. Circling is good for business generation and building a good portfolio of friends. Circling transforms your psychology in career development and your personal growth curve. Circling is not the same as coaching. Here, the onus falls on you to transform through quality, authentic and strategic relationship aimed at building you and more importantly your competencies.

Let’s learn to be part of circles. At least start by being part of a selected team by either joining or facilitating one, aiming to solving, assisting, fixing and ultimately connecting with a team to better every member. It’s key to share moment-by-moment experience in a bid to transfer knowledge and show the way.

Find a circle. Form a circle. Circle well and get connected. It’s good to pause sometimes to create new circles to learn again as part of the learning cycle. This is key to your leadership development journey.

The Millennial’s Corner with Miss Amofa: Building a PR business: the Faith Senam Ocloo story

September 6, 2020

Accra-based Fashion PR Specialist, Faith Senam Ocloo founded E’April Public Relations in 2012, a boutique PR firm with the objective of developing and executing PR and brand strategies for emerging and established brands within the fashion, beauty and lifestyle industry.

Knowing the potential of the fashion industry and the role PR can play in it, she realized the need for many of these businesses to include public relations in their overall brand development strategies in order to build successful brands. This informed her decision to start a career in Fashion PR.

Faith is passionate about supporting entrepreneurs and small businesses to grow through PR campaigns, strategic partnerships and digital PR. She loves to be part of the growth process by focusing on managing brand’s positioning and developing strategies that will create awareness and increase brand knowledge.

Since starting out, she has spearheaded successful PR campaigns for businesses and consulted on strategy, media relations and brand communications all geared towards garnering the right attention, trust and improving relationships with key stakeholders.

She has worked on several campaigns for brands like Selinabeb, Adubea Jensen, Ghana Menswear Week (formerly Accra Men’s Fashion Week), Horseman Shoes, Pure Persona by Nana, So Aesthetics, Nadrey Laurent, Evangel Magazine amongst others.

With over eight years of experience, Faith (FSO) recounts her journey on the Millennial’s Corner.

Miss Amofa: At what point did you decide to quit your 9 to 5 and focus on building a business?

FSO: I have always had a keen interest in fashion, beauty and lifestyle. After graduating from the university, I wanted to make an impact in whichever industry I would find myself in. I wanted a job in PR so badly though I was working as a cashier in a telecommunications company but luck wasn’t on my side.

After many unsuccessful applications, I left my full-time job to start freelancing as a Fashion Publicist for fashion brands on pro bono – having realised there was potential in that industry. I was later offered a job opportunity at one of the top PR agencies in Ghana and I was there for about 19 months but I still felt that wasn’t the place for me as I wanted to leave to continue my work in fashion PR. In 2016, I finally made the decision to build a business in fashion PR to cater to the needs of fashion, beauty and lifestyle practitioners and I haven’t looked back since.

Miss Amofa: Why did you decide to build a business in PR?

FSO: I hold a degree in strategic communications with a major in PR and Advertising. So, as you can see, it was the obvious career choice for me after school. The goal had always been to set up my own business. Thus, after gaining some needed skills having worked with a PR agency, I knew it was time to start.

Miss Amofa: Starting a business can be daunting. Were there any hesitations that initially discouraged you from pursuing your dream?

FSO: It’s very normal to have doubts and hesitations about starting anything new. In my case, it was a tough decision because there wasn’t any blueprint for me to use when I started in 2012. Fashion PR wasn’t heard of in Ghana – much less being able to pay you well enough. But in all, I took a bold step to start and had the patience to nurture it into a viable business. Currently, we have 4 clients and I have managed PR for other established and emerging brands.

Miss Amofa: What were some of the challenges you encountered when you started E’April Public Relations? How did you handle those difficulties?

FSO: My major challenge starting out was convincing or selling the idea of the relevance of public relations to potential clients in the fashion industry since most believed it is only for corporate bodies with big budgets.

Miss Amofa: Do you remember your first pitch? How did it go?

FSO: Yes. My first pitch was writing a press release for my friend who was a menswear designer. I developed the concept and scouted for a photographer and model. After that, I pitched it to some of the leading online portals to publish. Interestingly, they did and I still see those images online being copied and used by other designers.

Miss Amofa: You have worked with some big brands in the fashion, beauty and lifestyle industry. How did you position yourself to become a leader in your industry?

FSO: Over the years, I have built capacity working with some of the most respected companies in the country which served as a springboard for me. That, coupled with constant learning, consistency, research and the quality of work I had done with brands since starting out earned me recommendations. This pivoted to speaking engagements, master classes and of course, networking – which can never be down played.

Miss Amofa: What are some of the challenges you have encountered in your career so far?

FSO: I started out very young in my career at the time. As such, I had to learn quickly and adapt faster. This also meant I was handling every aspect of the business by myself, until a few months ago when I hired an assistant. Now, work is much easier and hopefully we are able to sign up more clients.

Miss Amofa: How have you been able to pivot your business amidst COVID-19?

FSO: For us at E’april PR, planning has always been key. That is always the hallmark of PR practitioners. Nonetheless, we still could not have imagined something like COVID could have happened. However, because we had been distinct with the brands we work with, we got new clients during this period who are now realizing the importance of PR to their business. So our ability to help our clients communicate creatively, briefly and very excitingly has been a good strategy.

Miss Amofa: Why did you decide to start Women in PR Ghana Summit?

FSO: Women in PR Ghana was birthed out of my desire to connect with fellow women and professionals within the PR industry. Since that wasn’t readily available to me at the time, I decided to establish that community and networking platform that will enable me and many others learn, share and guide each other.

Through this, we decided to launch our annual Women in PR Ghana Summit in 2017 which has attracted over 600 participants in the last four years, and continues to become a resourceful platform for both students and professionals to connect, share and build.

Miss Amofa: You organized a PR Masterclass last year. What was the idea behind it?

FSO: I found that a lot of brands were beginning to ask questions about PR and what it can do for their business. They needed to understand it. Some also followed our work and the resources we share on our social media platform and were interested in using PR, but could not afford it.

Hence, I decided to have a masterclass to teach brand owners more about PR and its function in building their brands and how they themselves can apply it in small ways until they are in a position to hire a professional. We had amazing feedback and hoped to bring it back this year, but due to COVID, we’ve had to re-strategize.

Miss Amofa: The fashion & beauty industry in Ghana & Africa has grown over the years. What do you think are the future prospects for the industry?

FSO: I believe the future of fashion worldwide is in Africa. We are blessed with a lot of talent and resources as a country and continent as a whole. In my opinion, we lacked packaging, aside being authentic in telling our stories as Africans through the products we produce. However, I believe we have realised people are always interested in unique stories and the importance of all these other elements. The world is finally paying attention to us and recognizing what we bring to the table. So for me, our prospects are endless.

Miss Amofa: What do you think fashion brands and businesses can do to position themselves to unlock such opportunities?

FSO: Authenticity. You cannot thrive in any space if you are like every other brand out here. You need to have a signature and perfect it and create a story around it that regular people can identify with and connect to.

Miss Amofa: Any advice for other young people who want to start up their own businesses in Ghana?

FSO: Be clear on why you want to start the business in the first place. Don’t just start a business because everyone is doing so. Identify a gap which is in line with your interest. Do lots of research and be credible in your dealings. Integrity is key and worth more than money. Be prepared to have little to zero social life and for a lonely journey. You may lose friends and money but when you are sure in your gut that this is your calling, all the hard work, long nights and tears would be worth it.

>>>Nana Akua Frimpomaa Amofa is a Writer and Creative Lead of Scripted Impressions, a creative consulting agency that helps individuals and brands tell their stories. She works as Senior Editor at El-Evangel Publications. Her work involves content development, strategy and review of publications. She’s also part of the review team of My Story Magazine, an entrepreneurial resource magazine. Connect with Nana Akua via Instagram/Twitter: @missamofa, LinkedIn: Nana Akua Frimpomaa Amofa, Email: [email protected]

The youth must refuse to be tools in hands of politicians to promote violence – Oxfam

September 6, 2020

The Regional Programme Coordinator for Youth Education and Gender Equality at Oxfam Ghana, Wumbei Dokurugu, has charged the youth to be vigilant enough so as not to be swayed by the adroitness of politicians to be used as working tools in their hands to promote violence before, during and after the December 7 polls.

He equally reminded young people to much aware that the critical resources owned by the country including the sustenance of the country depend on them therefore if care is not taken and they allow themselves to be used by the political actors to perpetrate mayhem in the run-up to this year’s election, the peace and stability the country enjoys is likely be undermined.

Mr. Dokurugu gave the advice while addressing the executive members of the Greater Accra Regional Youth Network (GARYN) at the office of the Foundation for Security and Development in Africa (FOSDA) located in Accra.

The monitoring meeting was an avenue for Oxfam Ghana to brainstorm, dialogue, solicit views and identify challenges of youth groups across the country with the aim of helping find amicable solutions to them to engender youth development.

Elections are an essential part of the democratic process and organization, and a means to manage political competition and conflict in a peaceful way. However, when the political process fails in this regard elections can be a spark that leads to violence resulting, in the worst case, in significant loss of lives as has occurred in a number of places all over the world.

In Ghana since 1992 every election conducted has experienced some level of violence, depending on the intensity which varies from election to election. Indeed, history has taught us the youth form the majority group of people who are noted for perpetrating violence induced by political actors to their advantage which is a major concern.

But speaking on the issue in an interview on the sidelines of the meeting, Mr. Dokurugu observed the youth should be very circumspect in their dealings with political actors particularly during this season in regards to the booty they stand to get to vote for them but rather focus attention on their development and that of the future generation.

“The development of the youth has nothing to do with what the politicians give them today, what they will be taking and asked to go and vote but what they will sustainably create to cater for them and the next generation to come that is what they should be pushing for.”

While suggesting a youth network formation as a game-changer to solving youth issues, he appealed to young people within the Greater Accra Region including other regions in the country to identify themselves as critical stakeholders, have a common agenda and identify themselves with that agenda by forming a network or movement to rally around the issues they want to change.

“The movement will amplify their voices, will let the duty bearers understand the seriousness of the issues if they all begin to push for that particular change they desire,” Mr. Dokurugu noted.

Touching on the rationale of the meeting which he described as a surprise familiarization tour to monitor youth networks across the country, he hinted that Oxfam is interested in providing support for youth development and this is “our bit of facilitating the empowerment of young people to mobilize their energies to amplify their voice when it comes to youth policy decision-making processes.”

As part of his tour, the Oxfam Ghana boss will cover seven regions across the country namely Oti, Volta, Greater Accra, Ashanti, Upper West and Upper East and Northern regions where he will touch base with youth groups such as the Oti (Dambai) Regional Youth Network, Volta Regional Youth Network, Greater Accra Regional Youth Network, Ashanti Regional Youth Network, including the Upper West and Upper East Regional Youth Networks.

For her part, Theodora Williams-Anti, Programmes of FOSDA charged the Greater Accra Regional Youth Network to rise up to the occasion and vigorously pursue the agenda of reaching out to more young people across the region with education on their focus and interest as well as on issues likely to influence their decision in the upcoming elections with particular attention on who to vote for.

Head of Public Relations of the Greater Accra Regional Youth Network, Joseph Kobla Wemakor thanked Mr. Dokurugu for the honor to have him visit, interact and educate them on the most critical decisions the Network ought to take towards its success and advancement.

The Greater Accra Regional Youth Network is a web of youth groups from various districts, metropolitan and municipal assemblies in the Greater Accra Region. The objective of the network is to promote youth empowerment in the region through advocacy and other projects that would transform the lives of the youth.

Poetry Corner with Kwesi Bissue: As they tell a tale…

September 6, 2020

As they tell a tale
…to tell who they are
They tell it to please
…their exalted self to seek
Seeking to pamper glory unto self
As they tell a tale
…to hide what they are
They seek to promote and protect self
Seeking to scoop some gains from gross losses
As they tell a tale
..to justify what they do
They seek to stoop below a dignity
Seeking to propagate to land at the gates of Watergate

Even as they shout it aloud
They spark a start in a refining furnace
To process it into a fine fibre
To fit into the ears of their sort
Even as they thicken the plot
They set forth on a path to polish the first plot
They scheme a cover to cover over a blot
Even as they shout from the rooftop
“Oh how we were miserably misquoted”

Even as they spin it through a mouthpiece
They sing a new song
And design a new signage
To take the place of the old signpost
To post a new image
To superimpose a new style unto an old mistake
To erase to recreate that old misdeed

Even as they shut it in
In an untruthful mouthful
They play to the gallery
Pointing to a gallery of gallant actors
Actors with seared consciences
Actors with a smeared psyche
They that engineered worse acts
…the lying schedule is now routine

Even as they practice to perfect
They perpetuate the cancer of deception
Tossing trust into the river of betrayal
Even as they perfect the practice
They thrust trust into a bottomless mistrust
For trust drowned is trust frozen
For trust tossed about is trust lost

Even as they tell a tale of lies
To bury a pile of truth
Under a pack of lies
…nothing but the whole truth dies

The society and you – Chris Koney: Of drive & perseverance, the story of leading makeup artist – Regina Ama Dumah

September 6, 2020

Regina Ama Dumah (1) — Photo: Regina Ama Dumah. Credit: Chris Koney

We live in a world where everybody wants to look attractive, beautiful and something different from others. In order to do this, people do different things such as wearing designer clothes, visiting gyms and spas, going to beauty parlours among others.

Though everybody has the propensity to look alluring, some professions emphatically demand good looks. If you are in the fashion or entertainment industry, it becomes mandatory for you to maintain a good look for a maximum time. And, here is when the role of makeup artists becomes very crucial.

Regina Ama Dumah is a young dynamic lady with the desire to change the world around her and impact society with her passion. She is currently one of the most sought after Ghanaian makeup artists and the power behind the popular Reggies Makeovers brand.

A certified nurse, professional makeup artist and a photo model, Regina is a creative genius with a deep love for fashion. In spite of her busy schedule, she managed to make time to host me over the weekend for a chat on the fashion and beauty industry.

Photo: Regina Ama Dumah. Credit: Chris Koney

On the state of the makeup industry, she said: “in fact, over the last decade or two, the demand for expert makeup artists around the world have increased significantly. In the well-established entertainment industry, there is a huge potential for makeup artists with great benefits. In a country like India, where a wedding is more than just an occasion, there is always a scope for makeup artists.”

She also admitted that there are several opportunities for makeup artists in Ghana as a result of the increasing interest in lifestyle trends with more people taking a keen interest in their looks at all times.

“A lot has changed in recent times. Gone were the days when people would wear their best clothes only during festive seasons or to big events. Now it’s becoming a norm, the look good and feel good factor. People always want to look good, not only to special occasions but when they want to step out or even run some errands. As we all know, appearance does matter a lot and forms people’s perception about you so you always need to bring your game on when stepping out,” she added.

Regina is the last and only girl of three children of her middle-class family. She had a humble beginning and was lucky to have parents that prioritized education. After her elementary education at Cambridge Academy, she proceeded to the Tema Secondary School where she studied science.

She studied Software Engineering at IPMC before taking a Midwifery and Health Assistant course after her high school education. To enhance her people’s management skills, she enrolled at the Ghana Institute of Management and Public Administration (GIMPA) for a short course in Public Relations.

Your guess might be good as mine, what is happening to her nursing certificate? “Yes, I should be in the hospital by now but plans changed along the line. I left the medical field in December 2017 to pursue my dream as a makeup artist. A lot of factors pushed me to make that difficult decision but the passion to build my own brand was the most important one,” she said.

As expected, it was going to be difficult for her family to support her quitting her nursing career for something no one knew the prospects at the time. Regina revealed that the majority of her family members definitely didn’t support her decision and that was a difficult time for her.

She said: “which parent will be happy to see their daughter quit nursing to do makeup? You will only get one out of hundred parents allowing this. My brothers and dad were not happy at all but I had the support of my mum and that was what changed everything for me. It was tough from the beginning but with God and hard work, I am glad my parents and brothers are so proud of me now.”

Chronicling her journey, Regina said: “the whole fashion and makeup business started in my final year in nursing school. I tried makeup on a colleague one day and I saw how confident she became at school. I began investing in buying data and literally sleeping on YouTube to watch makeup tutorials.

According to her, she suddenly found so much interest in it that she missed classes a couple of times to stay at the hostel and try out some of the tips she had learnt from YouTube. She was getting there but needed to perfect her skills so she made a decision to use her feeding fee to polish up with a Ghanaian makeup artist in 2014 at a very critical time, three months to her license exams. Though very risky at the time, she has never regretted it.

Contrary to widely held perception, Regina revealed that makeup is a rewarding job if you are focused, determined and hardworking. “The industry is growing so fast with new trends every day. People are now seeing the business aspect of makeup and the fact that it enhances your beauty, boost your confidence level, makes you feel good about yourself and not necessarily the old notion people had that makeup is a scam,” she added.

According to her, her principle from day one has been to push the boundaries irrespective of the challenges she encounters. “The sky is big enough for everyone to fly and get to the clouds. In 2019, I won three awards – Fashion and Honors Awards Best Makeup Artist of the Year, Makeup Ghana Most Promising Bridal Makeup Artist of the Year and Xperience Womanity Award Africa for Beauty Enterprise, which gives me inspiration that there is light at the end of the tunnel and everything is possible so I need to work harder,” she emphasized.

Her advice to people planning to become makeup artists is to undergo effective makeup artist training to acquire relevant skills and attributes needed to be a successful makeup artist including creativity, colour knowledge and people skills.

Stream Ghanaian Series ‘Every Woman Has A Story’ on Showmax

September 6, 2020

Video streaming service Showmax from MultiChoice Group Showmax launches in Ghana following a successful rollout in other African countries. Since its rollout in 2015 Showmax has been offering customers top-notch entertainment, movies, series, documentaries, music, and news; but is tapping into the soccer content from SuperSport as it becomes available in Ghana.

Now launched in Ghana, Showmax has supplemented its library with a bank of Ghanaian movies and series. Speaking about the new streaming service, Cecil Sunkwa Mills, Managing Director, MultiChoice Ghana, said, “the best thing about the amazing content on Showmax is that you can watch whenever and wherever you like, on pretty much any device that’s connected to the internet, with no ads and no interruptions.”

He adds, “mobile usage is mainstream in Africa, so having a one-size-fits-all big screen streaming service may not be the best solution. Anyone with a smartphone in Ghana will be able to get the best Ghanaian/African content, the best of Hollywood, and live sporting action on the Showmax service.”

Showmax host a plethora of popular Ghanaian series and movies from the likes of multiple AMVCA winning director Shirley Frimpong-Manso, Leila Djansi, Juliet Ibrahim and Kwah Ansah.

This week the spotlight shines on the drama series “Every Woman Has A Story” a directorial debut of actress Juliet Ibrahim which follows the lives of five women who tell their stories of love, joy, happiness, heartbreak and pain. This riveting drama series features Toosweet Annan, Sonia Ibrahim, Pascaline Edwards, Beverly Afaglo, Fred Amugi, Harold Amenyah, Vincent McCauley and Vanessa Gyan.

Showmax also features international shows including the best of HBO, Kids favourites, Hollywood blockbusters plus live Premier League action on the Showmax Pro service and this is something no other service of its kind has.

Showmax and Showmax Pro is priced in Cedi as follows:

Showmax		Showmax Pro
Showmax	Showmax Mobile	Showmax Pro	Showmax Pro Mobile
GH¢45.99	GH¢22.99	GH¢119.99	GH¢59.99

Showmax is an African video-on-demand service with a local-first approach which delivers African stories told in familiar voices as well as the best that Hollywood has to offer. This local-first strategy is an advantage because it allows for tailored content, apps, packages, and partnerships, specifically to what’s most important in Africa. For more information, visit www.showmax.com.

Beiersdorf’s Care Beyond Skin supports healthcare workers

September 6, 2020

Care Beyond Skin (CBS), the Corporate Social Responsibility (CSR) initiative of Beiersdorf Ghana Ltd, importers and distributers of Nivea range of skincare products in the country, has embarked on another humanitarian mission to support healthcare workers in the country.

The CSR activity saw the donation of 50,000 Nivea creams and hand care products to the Ghana Health Service to be distributed to healthcare workers across the country to help keep their skin and hands well moisturised as they go ahead to save lives.

Country Manager, Beiersdorf CWA, Olivier Bodson stated that the fight against the COVID-19 pandemic is communal and his organisation is also committed to joining forces with communities to prevent the spread of the disease.

“Healthcare workers continue to provide essential services across the country in a bid to fight COVID-19. Doctors, nurses and medical practitioners across the country are constantly washing and disinfecting their hands as they treat and care for COVID-19 patients.

This means that their hands require extra care, protection and moisturizing due to the fact that frequent hand washing and sanitising can lead to extra dryness which leaves the skin prone to developing micro-tears,” he said.

He also indicated that the company has previously donated over 1,500 litre of hand sanitizers to government healthcare facilities, hospitals and vulnerable members of the community in an effort to prevent further spread of the COVID-19 virus.

Director-General of Ghana Health Service (GHS), Dr. Patrick Kuma-Aboagye, receiving the items, emphasised that the country is seeing a downward trend in the COVID-19 cases and that is due to the collaborative efforts between government and private sector to ensure that the frontline health workers are always provided for and are safe themselves to take care of patients.

“This is not forgetting the sacrifices, the healthcare workers themselves have done by putting themselves on the life-line and going to the extreme to save lives. We want to thank Beiersdorf for this important gesture, it is very motivational to know that someone is thinking not only about you but also your skin and hand as you frequently wash them in treatment of COVID-19 patients.

It will help boost the morale of health workers to deliver their best with the promise of keeping the pandemic under control. We are obviously on a downward trend as the number of new cases continues to go down however it is not happening in a vacuum, but hard work,” he said.

Commenting on the opening of the airports and the complaints that the compulsory test at the airport, which would cost each passenger US$150 is too expensive, he said: “the PCR testing is coming to replace a two weeks’ compulsory quarantine which is even more expensive, and we are also looking at something that takes of the time, accurate results and help the country to limit the importation of diseases.”

Zenith Bank introduces GH Dual Card in partnership with GhIPSS

September 5, 2020

MD-and-Archie — Photo: MD/CEO of Zenith Bank, Mr. Akindele Ogunranti, left, and CEO of GhIPSS, Mr. Archie Hesse, right. Credit: Zenith Bank

Zenith Bank (Ghana) Limited has become the first in Ghana to roll out the Eazypay GH Dual Card, combining the e-zwich and Gh-Link functions.

Powered by the Ghana Interbank Payment and Settlement Systems (GhIPSS), the Eazypay Card is accepted on all local bank ATMs, POS terminals and Hybrid terminals on the Gh-link platform as well as on local eCommerce platforms. It comes with a 3D secure authentication that provides additional security for payments made with the Gh-link option of the card only.

It is chip and pin enabled and has a validity period of two years. Customers also have the option of personalizing their card if they so desire.

The Chief Executive Officer of GhIPSS, Mr. Archie Hesse, commended Zenith Bank for partnering with GhIPSS on this project and for championing the nation’s cashlite agenda.

On his part, the MD/CEO of Zenith Bank, Mr. Akindele Ogunranti noted that “the innovation by GhIPSS to merge the two cards gives customers the opportunity to experience the ‘Power of two in one’. This means that this single card can now perform functions that hitherto were done using two cards (e-zwich and Gh-link).”

He further encouraged GhIPSS to continue to come up with more innovative digital products and services for the benefit of the Ghanaian populace. He added that Zenith Bank remains committed to partnering with GhIPSS on the roll-out of future projects.

The Zenith Eazypay card is targeted at the Bank’s customers who rely heavily on either the e-zwich or Gh-link cards or both.

The card which forms part of the local electronic payment ecosystem has a myriad of benefits to users. Customers can use this card on all local bank ATMs, POS terminals and Hybrid terminals on the Gh-link platform as well as on local eCommerce platforms in Ghana. The card comes with a 3D secure authentication that provides additional security for payments made with the Gh-link option of the card only. It also comes with relatively lower transaction fees.

It is chip and pin enabled and has a validity period of 2 years. Customers also have the option of personalizing their card if they so desire.

Users of the Zenith Eazypay card are assured of the ease and convenience that comes with using any e-product of the Bank and can have 24/7 access to their funds. Customers using the card are entitled to a default daily limit of GHS 5,000 on all local ATMs while POS/WEB services offer a daily transaction limit of GHS 3,000.

In addition to the Eazypay Card, Zenith Bank also provides top-notch card products that are powered by Visa and Mastercard. Some of the cards issued by the Bank are the Visa/Mastercard Debit, Credit and Prepaid cards designed for both individuals and Corporates. These cards allow for easy withdrawal of cash and, or payment for goods and services both locally and internationally, directly from traditional bank accounts or prepaid card accounts.

For high net-worth customers, the Zenith Visa Platinum cards are available in debit and credit options to cater to their banking needs. The Bank has also partnered with several institutions for the issuance of customized cards to patrons of their services.

Zenith Bank is encouraging its customers with e-zwich and Gh-link cards to visit any of its branches nationwide to apply for the Zenith Eazypay GH Dual card. The Card is issued instantly at all the Bank’s locations, it is fully activated and can be used on all ATMs, POS terminals in Ghana displaying the gh-link logo as well as used for online purchases within Ghana. It is convenient, secure and very safe owing to the integration of the security features for both the e-zwich card and the gh-link card.

The Zenith Eazypay GH Dual card is the ‘Power of two in one’ and truly guarantees “Eazy banking for everyone”.

Zenith Bank Ghana has a reputation for developing highly innovative banking products and services in line with its vision “to be the reference point in the provision of prompt, flawless and innovative banking products and services in the Ghanaian banking industry.”

John Awuah tells his story on Y Leaderboard Series

September 5, 2020

The Y Leaderboard Series on Ghana’s number one urban station, YFM, has featured another prominent leader, John Awuah of the Ghana Bankers Association in the third session of its second edition.

The Deputy Chief Executive Officer of the Ghana Bankers Association had a gripping conversation with host Rev. Erskine spanning from his childhood, education, career, family life and life mantras.

Speaking on his childhood, the banker revealed that he grew up in an underprivileged household where he was the first person to attend Senior High School and go to the university. He noted that his love for numbers and challenges was what propelled him to get to the pinnacle in his career regardless of never having a professional to look up to and guide him growing up.

“Every now and then, a teacher would become my inspiration but I didn’t have any professional or big man to look up to. It was more of survival and not a professional to look up to per say,” he said.

Commenting on his education, he disclosed that he withdrew from the University of Ghana (Legon) after being at the school for about six weeks. According to him, he has never regretted leaving Legon for the University of Cape Coast (UCC) and believes it was a defining decision of his life.

The banker, who took this decision without the knowledge of his parents, indicated that he was not worried at the time for taking such a bold step and would repeat it. “None of my family members knew I was leaving Legon. I left after spending a month and a half at Legon and went to Cape Coast. I left Legon which was at that time regarded as the most prestigious school in Ghana and I was not worried taking that decision,” he said.

Today, John Awuah serves as Deputy Chief Executive Officer of the Ghana Bankers Association and the young banker is expected to take over from the current Chief Executive Officer, preparing to retire later in 2020.

In his submission, the astute banker advised that people who want to measure their success in life can only have the right perspective of their success if they avoid comparing their feats with others. “Don’t live your life for others. Live it for yourself. Once you have that at the top of your mind, you are almost always happy because you are thinking about yourself, not what others are thinking about you.

You cannot control people’s views about you. You can only make sure that you are being true to yourself and hope that people will see you for who you are. What people think about you is none of your business. It is about the kind of value that you see. If it means your children are in that school, it should not be because someone’s children are in that school. It is because you can afford it and you think it is good for the children.”

He furthered on, by speaking about Ghana’s development and why it seems the professionals with the know-how have been sidelined in the national discourse of development.

“Elsewhere in developed economies, it is people like us who get the visibility and the voice to express views on national agenda and the national discourse. Unfortunately, in Ghana, it is the reverse.

In Ghana, it is people who have the time, less work to do and who can move from station to station and do not care about credibility who have the leverage. Also what the politicians have made politics to be is such that they have made it more unattractive to get involved in the national discourse. We are so polarized that you cannot express opinions without someone else painting you in a certain colour. So if it is party A that is in government, you are supposed to support that party,” he told Rev.Erskine.

Programmes Manager for YFM, Eddy Blay speaking on the interview with John Awuah commented: “It was a great session with John. I believe may youths will identify with him. He took us through the tough journey of his life, the life-changing experience as a result of his perseverance and the mantras he holds so dearly. He was very generous in sharing with the youth the tips to succeed in life.”

Ghana’s Most Beautiful 2020: who makes it to the grand finale

September 5, 2020

Sunday, September 6, 2020 promises to be fun packed and a night of fireworks when the remaining seven contestants of the 2020 Ghana’s Most Beautiful contestants mount the stage for this week’s episode.

The night will witness the last eviction of this year’s edition of the most watched beauty pageant show and the search for a lady who is bold, intelligent, beautiful, charismatic and understands the essence of being a Ghanaian woman and an African at large.

Your guess is as good as mine, who makes it to the grand finale? Will it be Greater Accra’s Naa, Ofosua from the Eastern Region, Zuzu, the pride of Northern Region, Talata of the Upper East Region or Ahafo Region’s Abena? What about Kafui of the Volta Region and Afriyie of the Central Region?

The weekly episode airs on TV3 Network every Sunday at 8 PM and this week’s edition will present us with the six finalists for the grand finale scheduled to take place on Sunday, September 20, 2020. It’s time to vote for your favourite contestants via SMS (*713*19#) or download the GMB App on App Store and Google Play.

TV3 launches 2020 edition of Mentor

September 5, 2020

TV3 Network has launched this year’s edition of Ghana’s most popular music reality show on television, Mentor. This year’s edition of the show is dubbed ‘Mentor Taking You Higher’

Speaking on the station’s preparedness for this year’s edition, the General Manager of Media General television, Francis Doku, said: “beyond offering a platform to discover extraordinary talents, we seek to add value and equip these young musicians with the requisite music business knowledge, industry insights and support to transform them into global stars.”

He further said: “around the world, music is a multimillion-dollar industry and a major contributor to the Gross Domestic Product of countries. We at TV3 are convinced that when the right structures are built and activities within the Creative Arts sector streamlined, our music industry could potentially become a huge contributor to national development hence our efforts at helping to identify, nurture and hone young talents to contribute to the industry.”

The launch ceremony which took place during the TV3’s morning show on TV3, New Day, featured musicians Edem and Adina, industry veteran, Bessa Simons and Music Producer Appiah Dankwah, popularly known as Appietus, who are judges for this season.

The ultimate prize for this season is a brand new vehicle, two mastered songs, and GH¢50,000 worth of airtime across all Media General platforms – radio, television and digital. The first runner up will receive GH¢10,000 cash amount one mastered song and GH¢40,000 worth of airtime, second runner up will receive GH¢8,000, one mastered song and GH¢30,000 worth of airtime and the third runner up will receive GH¢5,000 cash amount, one mastered song and GH¢20,000 worth of airtime respectively.

Auditions commenced September 1and 2 in Tamale at the Radach Hotel then in Kumasi on September 4 and 5 at Akoma FM. It continues in Takoradi on September 10 and 11 at Connect FM and the final auditions will be held in Accra on September 15 and 16 at the premises of TV3 Network.

President appoints Juliet Aboagye-Waife as new Deputy Director-General of GCAA

September 5, 2020

President Akufo-Addo has appointed Juliet Aboagye-Wiafe, a seasoned auditor, as the Deputy Director-General of the Ghana Civil Aviation Authority (GCAA), effective immediately.

She is the first female to occupy the Deputy Director-General’s position, following the retirement of Mr. Abdulai Alhassan who attained the compulsory retiring age of 60 years in July 2020.

Ms. Aboagye Waife, has an in-depth knowledge of the aviation Industry, having worked with the Ghana Airports Company Limited (GACL) as the Director of Audit for over 10 years, where she ensured the restructuring of the Audit Department to make it more efficient.

Prior to joining the GACL in 2010, she worked at auditing firm, PKF Ghana as Management Trainee and later joined GHACEM Limited, a member of the Heidelberg Cement Group for 17 years.

Due to her strong auditing background, she was made to serve as a member of the Audit Report Implementation Committee (ARIC) in several institutions in Ghana including the Minerals Commission, Ghana Highways Authority, Community Water and Sanitation Agency, Local Government Secretariat, and the Statistical Service of Ghana.

Ms. Juliet Aboagye Waife is the immediate past President and Council Member of the Institute of Internal Auditors, Ghana.

She is also a member of the Institute of Internal Auditors (Global) as well as a member of the Association of Airports Internal Auditors (USA).

She served as a Board Member of Servair Ghana Company Limited, an airline catering Company from 2011-2013 and contributed significantly to the establishing a sound financial and administrative system.

Ms. Aboagye Wiafe is the chairperson of the Audit Committee of the Ministry of Local Government and Rural Development as well as a member of the Audit Committee of the Ghana Health Service.

She is also the President of the Women in Aviation International, Ghana Chapter, and a member of the Association of women Accountants Ghana.

Sylvester Kwame Osei and Prosper Tornyi’s thought: Here are 3 ways Ghana is supporting farmers to prevent a COVID-19 food crisis

September 4, 2020

Photo: A woman farmer observing one of the COVID-19 protocols (hand washing)

The coronavirus pandemic is dealing a blow to food producers all over the world. In Ghana, one of the world’s biggest cocoa exporters, the livelihoods of millions of smallholder farmers are under threat due to global lockdowns and border closures, as well as the spread of the disease itself.

Agriculture sustains more than half of Ghana’s labour force, mostly as smallholders who cultivate their own plots of land with their families. Agriculture makes up 54 % of Ghana’s GDP and over 40% of export earnings. It also covers over 90% of Ghana’s own food needs. COVID-19 severely endangers this vital sector, with potentially disastrous knock-on effects for both producers and consumers. But Ghana is also showing what governments can do to support their farmers, prevent a food crisis, and create a more inclusive and sustainable way forward.

Here are three measures taken by Ghana’s government that mitigate the threat to smallholders, and thereby strengthen the source of our food supply:

Support for farmers

Farmers are frontline workers in the fight against COVID-19. Their produce is needed to keep populations healthy and well-nourished. Ghana’s farmers typically grow food for their own needs as well as cash crops such as cocoa and cashew nuts for export to Europe, Asia and America. However, their economic importance is not reflected by their earnings, which are meagre and vulnerable to shocks.

Cocoa farmers, for instance, earn a daily income of approximately $0.40 – $0.45 per capita from their cocoa produce, culminating in an annual net income of $983.12 – $2627.81. To supplement the low incomes from the farming activities, other farmers have resorted to alternative livelihood programs to generate additional income.

One problem is that farmers lack the capital to acquire high-quality seeds, fertilizer and crop protection products, all of which help boost yields. Loans from the capital market come with high-interest rates. This means farmers cannot plan and maximise production, and instead live from cycle to cycle, saving seed from one harvest to grow the next.

When large parts of the world went into lockdown earlier this year, many farmers in Ghana lost their market as air freight and other international shipments were stopped. As a result, prices dived and have still not recovered, even as many countries are emerging from lockdown. In March 2020, Ghana recorded the first COVID19 case from individuals on return trips abroad. In lieu of this, the country put in various restrictions to prevent the spread of the virus, including the closure of sea and air borders. Five months on, the borders remain closed, except for repatriation of stranded Ghanaians.

The price of cashew has fallen from $130 to $75 (per 100kg), resulting in reduced annual revenues between $378 million and $981 million for Ghana’s farming sector. The cocoa sector also suffered price shocks as a result of the pandemic. The International Cocoa Organization posits the price of cocoa as $234.9 per 100kg.

One key intervention by Ghana’s government has been to provide subsidized fertilizer, hybrid seeds and weed killer to over 42,000 smallholder farmers. It also offers warehouse receipt systems for farmers to store the harvest in anticipation of an appreciated price. Such support will improve food security, reduce poverty, and ensure the availability of selected food crops on the market as well as providing job opportunities within the agribusiness value chain.

Private sector partnerships

Many private-sector firms have empowered farmers through the pandemic period. Various community educational campaigns inform farmers of the virus, its symptoms and how to protect themselves. These campaigns spread health information via radio broadcasts, vans with loudspeakers, as well as text messages and mobile voice messages sent to farmers’ phones in local languages such as Twi for maximum reach.

Some farming communities still doubt the existence of the pandemic. Others think the pandemic only affects the rich and the elite because it initially spread in urban centres with international travel links. Ghana’s educational campaigns have gone a long way to demystify these stereotypes. They promote measures in line with the World Health Organization’s recommendations, such as hand-washing and mask-wearing. Village elders, influential farmers and traditional rulers have also been recruited as important role models and educators in the fight against the virus, passing on the information to their communities.

Where possible, administrative staff and other office workers in the agribusiness value chain have been asked to work from home to prevent the spread of COVID-19. They interact remotely with farmers using mobile phones and avoid in-person meetings as much as possible.

Home-grown science and innovation

Scientists in Ghana have been working on solutions to stop the spread of the virus. The University of Ghana successfully sequenced genomes of SARS-CoV-2, the virus that causes COVID-19, to understand the genetic compositions of viral strains in confirmed local cases.

A local tech-startup, Incas Diagnostics, has also developed a rapid test kit that detects COVID-19 antibodies within 20 minutes. The test kits have been submitted to the Food and Drugs Authority for approval to assist in the fight against the virus. In addition, Incas is working on a traceability mobile app to identify people at high risk of infection. These innovations are perfectly tailored to Ghana’s requirements. They will help keep the population safe, including the farmers who play such a crucial role in preventing hunger and undernourishment.

Caption: Undernourishment by country. Credit: WFP Hunger Analytics Hub

Supply chain, support chain

Ghana has not been spared from the devastating impact of COVID-19. It recorded its first case in March 2020 and has since registered 10,358 active cases. It has introduced measures such as banning all social gatherings, closing schools and distributing food and other relief. It will also have to build long-term resilience through broader measures that promote inclusion and equality.

COVID-19 has made us all realize how much we depend on each other. Farmers are the source of the world’s food supply. They need support, information and protection if they are to weather the pandemic and continue growing, harvesting, selling and shipping produce. This also means acknowledging their contributions to society and giving them equal access to opportunities and resources.

In the past, many development initiatives and social policies in Ghana focused on urban areas, preventing rural dwellers from benefiting. Efforts to promote rural industrialization have not had the promised impact. In the future, such imbalances will no longer be acceptable. The coronavirus pandemic has highlighted the danger of excluding certain groups from growth and prosperity because we need everyone’s contributions in a crisis.

The recent supply disruptions have also shown that some of the world’s poorest and most marginalized groups, including smallholder farmers, are in fact essential workers who keep us all alive through their efforts. COVID-19 poses a severe challenge to all food producers. But it also offers an opportunity to re-think our supply chains and create a more resilient, sustainable and inclusive food production system for the future.

Sylvester Kwame Osei’s thoughts: Ghana’s journey to becoming “Franglophone”

September 4, 2020

sylvester-kwame-osei-education-franglophone-ghana-anglophone-unesco-2 — Credit: Sylvester Kwame Osei

The campaign for Ghanaians to learn French is not new to us. It has always been drummed into our heads that Ghana is sandwiched between francophone countries and therefore, there is the need for us to learn to speak French. From primary school, pupils are exposed to the French language through recitals, songs and poems. French is offered all the way up till University and yet very few Ghanaians speak any real French. As the world is continually becoming a global village, there is a need to reinforce efforts to get our human resources to be linguistically dynamic in order to tap into international opportunities.

In May 2018, Ghana signed a linguistic pact between Ghana and the International Organization of the Francophonie for improved technical support and capacity building for the teaching and learning of French. How have various actors, institutions and individuals contributed to the promotion of the French language?

The French language

French is the language of France and also used in parts of Belgium, Switzerland, and Canada, in several countries of northern and western Africa and the Caribbean. It is an official language in 29 countries across five different continents, most of which are members of the Organisation Internationale de la Francophonie (OIF), the community of 84 countries which share the official use or teaching of French. The language traces its origin from Vulgar Latin of the Roman empire. It is the second language mostly spoken, after English. There are some 274 million French speakers worldwide, making it the sixth most widely spoken language and the fourth most used language on the internet, according to the Francophonie organization of French-speaking countries.

The French are well noted for their gastronomy. Common among these foods are croissants, soupe à l’oignon, coq au vin, chocolat souffle etc. They are proud of their food and culture, diverse ways of preparing meals and good eating.

Why learn French?

The French language exposes the speaker to a vastly diverse culture. French is an advantage to one’s career profile and opens up various career opportunities.

Think about it. In our competitive world of work, being bilingual or multilingual makes you unique and much more employable. Kofi Annan was appointed in 1996 to the position of UN Secretary-General partly because of his French-speaking abilities.

It is also interesting to know that the President of Ghana, Nana Addo Dankwa Akufo-Addo speaks French! He practiced at the French Bar for two years in the Paris office of the U.S. law firm Coudert Brothers. He is endowed with fluency not only in English but also in French and thus he serves as a role model for students to emulate. With his bilingual abilities, he has been instrumental in various international fora and avenues, including the United Nations Assembly. Since March 2018, the President has led negotiations to find a lasting solution to the political crisis in Togo, by virtue of his abilities to understand the nuances in French cultures, positionalities, and for the parties to trust his judgement and suasions.

Are we making headway in learning French?

The French Embassy, Francophone Embassies and French diplomatic missions have also been of immense support to the promotion of French language in Ghana. The embassy fosters bilateral relations between Ghana, France and the francophone communities in areas of trade, health, research, aid etc. Alliance Française, for example, has been promoting French language and culture through lessons and events. Events such as Semaine la Francophonie, Semaine de Goût, and other music festivals are championed by the institution.

The new French President, Emmanuel Macron, upon his swearing-in visited Ghana (first African tour) in his bid to modernize France’s relations with Africa. His objectives include creating business links, education and sport rather than development aid. Emmanuel Macron has launched a drive to boost French language around the world. The French President seeks to invest hundreds of millions of euros boosting the French language worldwide, overtake English in Africa and increase the use of French online. Part of these investments will be pumped into our educational structures in order for the nation to build its capacity in the French language.

French radio transmissions have also been extended to Ghana. Radio France Internationale is in Accra (89.50MHZ) and Kumasi (92.9MHZ). This is a unique opportunity for students to listen and improve their listening and comprehension in the language. There are French resources also on digital television channels such as DSTV, TV5 etc.

Si vous pouvez lire ceci, remerciez votre professeur. If you can read this [in French], thank your teacher. Teachers have been direct contacts with students in the delivery of French lessons. In the past, most French teachers were Ivorians, Togolese or Burkinabés who would come to Ghana in desperate need of jobs and would find teaching as a stepping stone. The only ‘selection’ criteria were their ability to rattle the language! These foreign teachers, without any form of professional education training, lacked the methodologies and approaches to the teaching of the French language. They would literally ‘beat’ the lessons into you. What do you recall of your Monsieur? Thankfully, more qualified teachers have been trained by various teacher training colleges and educational institutions. They have been equipped with the various concepts and ways of effectively administering lessons to students.

Also, universities are churning out graduates who have degrees in French to contribute to the promotion of the language. These graduates also spend at least one (1) year abroad in any francophone country or France to further practice the French language and culture.

Traditional rulers with education at heart have also promoted the French language within their subjects. Asantehene has played a pivotal role in Ghana’s educational narrative, of which the teaching and learning of French language is not an exception. The current Asantehene has made education one of the pillars to his social interventions with the Otumfuo Education Foundation. Since 2013, The Foundation has facilitated the annual Lady Julia National French Quiz which seeks to encourage and reward students and institutions for learning French. The Annual Lady Julia French Quiz was instituted by the Foundation in collaboration with Alliance Française and the Ghana Education Service in 2013 and was implemented in 2014.

What needs to be done.

Amidst all of these efforts, the majority of Ghanaians still do not speak French. People mention things they learned from school and make a joke out of it. Languages are best learnt when you listen, watch and act (speak). French language in our schools seems to be a subject with the expectation of students to be able to “chew and pour”. Students memorize lessons without understanding it with the intention of reproducing the lesson in an exam (and probably forgetting about it). This is surely not the way to go. Evaluation of the lessons should be made flexible with the target of students being able to speak, write and understand the language with little emphasis on getting 100% in the class test. This can be achieved when there is a deliberate pedagogic outline that systematically empowers the student to understand the lesson and apply them in real-life scenarios. This can be achieved through interesting songs, dance, sessions in the lawns (not always in the classroom).

The syllabus is a guide to teachers on which topics to teach within a period. Some teachers will teach exactly what the syllabus dictates and even gives the exact examples to students. Instructors need to step out of their comfort zone by exploring other books and online resources that reinforce the topic of the day. This will require a lot of research and the curation of ideas. In a class of about 50 students, teachers are overburdened with marking essays, writing of lesson notes, marking registers, preparing result slips etc. with little time for ample research of resources. Beyond the textbooks, how many French teachers will make time to check out the latest French comic movies to show the student? How many schools will pay some few dollars to subscribe to a French resource portal to receive the latest resources within the industry?

Stakeholders should invest in establishing more training institutes. This will be an avenue where the trainer will be trained. Universities in Ghana such as the University of Education, Winneba etc are championing the teaching and learning of French language. Other institutions such as the Centre Régionale pour l’Enseignement Française are also organizing periodic refresher courses to French teachers to upgrade their skills. There should also be scholarships to teachers to study abroad with the aim of the beneficiaries being the “growth pole” around which others can benefit.

Our Local Languages

As we are promoting other foreign languages, let us not abandon our local languages. English has become a measure of one’s intelligence; speaking fluent English is a sign of knowledge in Ghana. Families now prefer to speak English to their children to the detriment of our Asante Twi, Ewe, Ga, Frafra and other 250 languages and dialects are spoken in Ghana. It is good to learn French, however, it will be better if a local language is an official language in Ghana. It will be best if we promote cross-learning of language and culture; Asante will learn the Ga language; Ewes will learn Frafra etc.

Ghana is poised to get global and optimize integration in our global village. Government, teachers, diplomatic missions etc. are continually contributing to get Ghana fully tapped into francophone resources. There is the need for students, professionals and all citizens to embrace this effort and also learn the language. A bon entendu, c’est salut!

Sylvester Kwame Osei is a bilingual communications professional. Contact him on [email protected]

Sylvester Kwame Osei’s thoughts: How collective waste management can salvage perennial flooding in Ghana

September 4, 2020

sylvester-osei-should-ghana-ban-plastic-e1487606930638 — Photo: Collected waste

Flooding has been an event that occurs every year in Ghana. The disaster witnesses the earth surface being covered by water due to heavy rains. Waste has been a major contributor to the occurrence of floods in Accra, and other cities in the country. Taking a holistic approach to waste management will reduce the occurrence of floods to its barest minimum.

According to the World Bank, Ghana underperformed in achieving the Millennium Development Goals (MDGs) on sanitation and ensuring the safe and clean environs safe from diseases. Ghana has promulgated already existing laws on waste management. However, the enforcement of the laws has been ineffective. How did we come to the level where we are being drowned with plastic filth? Littering seems to have a cultural dimension. In the past, meals such as rice were served on leaves. After eating, the leaves would be dropped on the ground. This was “positive littering” then, as the waste leaves over time would dry up and degrade to enrich the soil. This practice went on until the introduction of plastic rubbers as people created an impression that eating on leaves was “kolo” (outmoded). People replaced leaves with the use of rubber and still continued to litter. There ought to have been an attitudinal transformation of littering as the rubber is difficult to degrade to enrichen the soil, compared to leaves.

Daunting effects

The UN Development and Program have posited that Ghana generates up to 1.7 million tons of waste each year. Accra alone is being swallowed by filth predominantly comprising of plastics. Every year, there is flooding and it is “creating jobs” for institutions like NADMO. The June 3 disaster flood was complicated with the spread of petrol that caused the death of about 159 people, displacing thousands of households and properties. Government committees sat to evaluate and make recommendations there off, of which are mostly not fully implemented. We still fail as a nation to sold this problem once and for all.

Plastics may break down into pieces and they can remain in the soil up to 1000 years contaminating soil waterways and water bodies. The plastics make the soil less fertile. The rubber blocks the porosity of the soil making it difficult for the cultivation of crops. Plastics also release toxic chemicals into the soil making it not conducive for living organisms in the soil. The chemical will also seep into the various levels of the underground water table.

Plastic Ban in Ghana?

Kenya and Rwanda are among African countries that have banned the use of plastics in their respective countries. Bravo. In Rwanda, it is illegal to import, produce, use or sell plastic bags and packaging. Sanctions against this directive include fines, public confessions or jail terms up to 6 months. Kenya has a fine of up to $1900. Other measures have been restrictions or the imposition of high taxes on the use of plastics. As a nation, do we also need a ban? Ghanaians still have the taste for the use of plastics. Evidence: buy Kenkey (maize meal with pepper and fish) on the streets of Accra and you may end up with about four polythene bags to take home; one for the ball of Kenkey, one for the fish, one for the pepper and a bigger one to wrap it up.

These countries that have pronounced ban still experience plastic smuggling. The government in 2015 announced a ban on the manufacturing and sale of non-biodegradable plastics. John Dramani Mahama (2015) stated that “If we can’t handle and manage plastic waste, then we may be forced to go the Rwandan way”. There should be conscious efforts to rather opt for plastic waste management which is entrepreneurial in scope. Various end-products such as insulation for jackets, sleeping bags, carpets and more bottles can be produced with its benefits trickling down the growth pole etc. Technologies such as waste combustors can be put in place to generate energy from plastics.

A Call to Action; It begins with you.

Charity begins at home, and so is sorting as the first means of waste management. The average home in Ghana has one big bin for all the wastes. Whether at home or at the workplace, people should be able to separate plastic waste, metals, glass, food waste etc. Families who can sort waste can even enrich the soil by planting the organic waste back into the ground to serve as manure. The plastics can be sold to recycling companies for further action.

We should also be working towards eschewing littering completely. There should be a conscious effort by people to avoid flying plastic waste from moving cars, and always put waste in their designated bins. The efforts should be complemented by the enforcement of the various environmental bylaws at the districts, municipal and metropolitan assemblies through sanctions (both rewards and punishment).

The private sector has a massive role to play in improving waste management in Ghana. Waste management is a profitable venture. Entrepreneurs can directly invest in the management of plastics as raw materials (waste) are readily available. Zoomlion Ghana commenced operations in around 2008 and has been a ‘monopoly’ of waste management. Competition in the waste management industry will create jobs while saving our environment.

The government can reward entrepreneurs who venture into waste management through tax incentives and exemptions. There have been calls on the government to ban the use of plastics. In order to keep plastic manufacturing companies economically productive and viable (amidst the ban), the government ought to support them with incentives to diversify production into plastic-alternatives.

Children lead the way

One exemplary deed on sorting is being undertaken by the “Sunday School” children of St. John the Baptist Catholic Church, Odorkor. The children contributed financially in building a giant metallic bin to collect only water bottles after Mass each Sunday. As children learn through games, they pick all the bottles on the compound at the end of church service and each of them throws it up the giant bin, in the form of “basketball shooting.” It becomes fun as these kids have to shoot it up to get into the ‘net.’ The project was implemented by Rev. Fr. Samuel Korkordi with inspiration from the Papal Encyclical, “Laudato si.” Pope Francis in his encyclical appeals for a conversation about how we are shaping our world. “We need a conversation which includes everyone, since the environmental challenge we are undergoing, and its human roots, concern and affects us all” (Papal Encyclical, 2016, p.12). The project has instilled in the Christian community the need to keep the surroundings clean.

The indiscriminate disposal of plastic waste is contributing immensely to the perennial flooding in Ghana. Proper waste management will go a long way to salvage the situation and save lives.

Sylvester Kwame Osei is a communications professional. He is also an MSc. candidate in Environmental Sustainability and Management at Wisconsin International University College. Contact him on [email protected]

ESPartners launches zero-interest loan programme to support African SMEs in a COVID-19 economy

September 4, 2020

The Ghanaian business environment is dominated by Small and Medium-Sized Enterprises (SMEs) representing 85% of businesses and contributing 70% of Ghana’s Gross Domestic Product (GDP) according to the Association of Ghana Industries (AGI). However, this very important business segment continues to face a myriad of challenges including access to finance.

The program will support 300 high-performing entrepreneurs with up to US$150,000 each in zero-interest loans and will provide technical support to spur Africa’s economic recovery.

Entrepreneurial Solutions Partners (ESPartners), in collaboration with the U.S. African Development Foundation (USADF) and Ecobank, has launched the African Resilience Initiative for Entrepreneurs (ARIE) – a pan-african initiative to provide financial and technical assistance to 300 entrepreneurs (approximately 70% of whom will be women-owned) impacted by COVID-19.

“Entrepreneurs are an important part of the ecosystem; they create markets where there often are none and help pave the way for future economic development,” USADF President and CEO C.D. Glin stated. “Now more than ever we need to invest in the next generation of African-led ventures and empower them with the tools they need to transform their businesses, create jobs, increase incomes, attract private investment, and impact their communities.”

Providing Direct Relief for African Businesses – A survey by the International Trade Centre (ITC) has revealed that the pandemic has strongly affected nearly two-thirds of micro and small businesses around the world, with businesses in Africa being disproportionately affected.

ARIE will support entrepreneurs from seven countries: Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, Senegal, and Uganda, and in the following sectors: Agri-Business, Manufacturing, Energy and Renewables, and Essential Services. Each SME selected will have the opportunity to receive up to US$150,000 per firm, disbursed as an interest-free loan, and will receive technical support from experts across the continent.

The application will be open between the 24th of August and the 25th of September, 2020. For more information on eligibility criteria and how to apply for funding, please visit: https://bit.ly/ARIE2020

Intelligent Business Financing – In line with ESPartners’ drive to provide intelligent capital, the zero-interest loans will be disbursed to leading profitable businesses, providing them with the working capital they need to maintain operations and scale despite the pandemic. Additionally, the ARIE platform will be a repository on a wide range of topics, including access to markets, building human capacity and scaling.

Equipping SMEs with the tools to pivot – Africa’s businesses are as diverse as Africans are, and the immediate and concrete technical support available through the fund will be tailored to their unique needs. Each entrepreneur will be assigned a business advisor that will support them in diagnosing and rethinking their strategy and operational efficiency and a team of experts that will help them adapt and navigate this present economic reality. By doing this, the ARIE platform will provide African SMEs with unique opportunities and business exposure that position them to play a meaningful role in Africa’s economic recovery in the years to come.

Connecting African businesses – In an era where Intra-Africa trade is key, the ARIE platform will help SMEs harness opportunities unleashed by the establishment of an African Continental Free Trade Area.

The ARIE platform will help connect African SMEs to potential investors and networks they require to expand their geographical coverage, and will enhance their capacity to trade across borders. These connections will be critical is recouping devastated African economies and jumpstarting economic recovery.

Registrar-General’s Department to engage creditors of defunct fund management companies

September 4, 2020

RGD — Photo: Registrar-General, Jemima Oware.

The Registrar-General’s Department, will from September 7, 2020, begin a scheduled virtual meeting with creditors of defunct Fund Management Companies (FMCs)

A statement from the Registrar General’s Department, the Official Liquidator of the 53 defunct FMCs, said all customers of the collapsed fund management companies will be met virtually for the first creditors meeting.

The meeting will first be with the creditors of 22 out of the 53 collapsed fund managers for Phase One. The remaining creditors will be met after the completion of the first virtual meeting.

It said links to the virtual meeting will be delivered via text to the creditors involved by close of the business day today.

The Securities and Exchange Commission, (SEC) in November last year revoked the licenses of 53 fund management companies.

The SEC said the affected companies failed to return client funds which remained locked up in, contravention of the investment rules.

Digital business breakthrough in Ghana

September 4, 2020

First smartphone food B2B App transforms grocery distribution and fuels Olam’s digital expansion plans in West Africa

Olam Markets, Ghana’s first and only B2B mobile app in the food sector, has made such a positive impact with grocery distributors that its owner, global food and agri-business Olam International is now planning to take the app into West Africa.

Developed for the distributors of various foods businesses of Olam Ghana, including staples such as Royal Aroma Rice and First Choice Flour, culinary products such as Tasty Tom Tomato Mix, and branded snack foods such as Nutrisnax Biscuits, the app launched on June 24, 2019, after multiple rounds of testing in Accra and other towns, as well as the involvement of a team of young Ghanaians fresh from their year of post-tertiary education national service. The app added an average of 50 distributors each month, and, in little over a year, is today used by 90% of distributors supplying retailers with packaged foods processed and manufactured in the country by Olam subsidiaries.

The impact has been transformational for business management. When asked for one word to describe “Olam Markets” most distributors said “convenience”, in reference to the app’s delivery of account statements in seconds instead of days, and the visibility they get into their orders with updates during every step of the process.

Olam Markets is a component of the company’s global purpose to re-imagine agriculture and food systems by innovating sustainable growth that benefits consumers, customers, employees, partners, and the communities and environments in which it operates.

The app was the product of intensive research into distributors’ needs so, in addition to providing them with the ability to select, order, purchase, and designate delivery details, it provides such useful functions as:

Instantaneous visibility into account balance and statement, which could take as many as five days when done in an analogue fashion
Visibility into complete product ranges and order status, which helps businesses manage warehouse space
A recommendation engine, so distributors get suggestions on what to order
Robust backup support

“Olam has been committed to Ghana for over 20 years,” said Amit Agrawal, Country Head, Ghana. “We built that experience into the Olam Markets solution and then rolled it out with only 16 distributors initially across four businesses to identify the real, practical needs of our customers. Half of them were run by women.

“I think this hands-on approach helped deliver our success, and it’s informing our ability to expand the app’s functionality and availability going forwards.”

In fact, Olam plans to roll out the Olam Markets app in Nigeria and then Cameroon before the year is out. Following input from its Ghana customers, the company is developing additional capabilities for all users, such as integration with WhatsApp and availability of a chatbot, personalised user listings, and a move towards becoming cashless by payment gateway integration.

Olam intends to work closely and collaboratively with its packaged foods distributors in Nigeria and Cameroon to further refine Olam Markets, so it best suits their needs while constantly improving the app.

“The goal of Olam Markets is to empower our distributors to do business faster, as well as more easily and profitably. It also strengthens the role of our branded products as core components of their successes, whether in Africa or other markets around the world,” said Sidhartha Samal, Digital Head, Africa & Middle East.

“Born and nurtured in Ghana, Olam Markets has the potential to become a platform which will encourage other ecosystem players like banks and logistics aggregators to participate. In turn, this will increase the value proposition for our distributors.”

GCB supports Airborne Force Medical Outreach In Tamale

September 4, 2020

MD-of-GCB-Bank-scaled — Photo: Mr. Anselm Ransford Adzete Sowah, Managing Director of GCB bank

GCB Bank Ltd has supported the Airborne Force Medical Centre in Tamale with a sponsorship package of GHC 2,000.00 as the Bank’s contribution towards the Centre’s medical outreach programme.

The public health initiative which is scheduled to last for three days will make it possible for people living in the remote parts of the Northern Regional capital to access free quality healthcare.

The donation by the Bank forms part of its Corporate Social Responsibility (CSR) towards the health sector and the northern part of the country.

In August this year, GCB donated a cheque for GHc100,000.00 towards the fight against cerebrospinal meningitis (CMS) and COVID-19 in the Upper West Region of the country.

Commenting on the package for the Tamale Medical Outreach, the Head of GCB’s Corporate Affairs Department, Mr. Emmanuel Kojo Kwarteng, explained that the contribution is “in keeping with the Bank’s continuous commitment to society’s wellbeing”.

He also commended the Airborne Force Medical Centre for their good work and encouraged them to continue to impact lives.

He urged social services and business institutions operating in the five regions in the northern part of the country to collaborate with GCB for business and social interventions to assuage the suffering of the masses.

Mr Kwarteng said Tamale and its surrounding communities have consistently bemoaned the seeming marginalization and unequal access to resources and opportunities.

He expressed the hope that with the GCB CSR increased focus on the northern sector of the country it would be a relief to many people living in these communities.

National roaming is coming

September 4, 2020

Photo: Minister of Communications, Ursula Owusu-Ekuful

The Ministry of Communications, through the National Communications Authority, is working with telecommunication companies in the country to roll out a national roaming service, which would allow telecoms service users automatically switch to the strongest available network irrespective of the service provider used, especially when the home network is unavailable or very unstable.

This service would ensure that customers of mobile communications automatically make and receive telephone calls, send and receive data, or access other services while travelling outside the geographical coverage areas of the home network, by means of using a network of another operator.

According to Ursula Owusu-Ekuful, Minister of Communications, forms part of measures to extend voice and data services to all unserved and underserved rural communities in the country.

“Just as roaming outside the country is possible, so it is internally and therefore some conscious efforts are underway to make it a reality soon. The move will augment government efforts at ensuring good telecommunication services across the country.
We want to promote national roaming, so that if you go somewhere were your network doesn’t operate but another network is there you will automatically roam on the other network and get the services and be able to receive and make calls and use data. This will prevent the carrying of multiple devices just so you communicate clearly at different locations in the country.

This is the same as travelling abroad and using your own network there because you are roaming; so we want to promote national roaming as well. It is part of the conversation we are having with the operators and we would want it done,” Mrs. Owusu-Ekuful said.

According to the Minister, COVID-19 has changed the act of doing everything: education, religion, work, entertainment among others, have moved online and persons living in rural areas need not be eliminated from benefiting from these. She added that the move is necessary to facilitate e-education, e-health, e-commerce, trade, and digital financial services in rural communities as a means to open up the country and expedite economic growth.

“Without connectivity, we can’t do that and it is not right that it is only in the big cities and district capitals that we have data and voice connectivity. As a government, we believe that everybody should be connected and we want to send connectivity to all parts of the country,” she added.

Already, the government has secured funding for Ghana Investment for Electronic Communication (GIFEC) to roll out the construction of some 2,000 sites in its Rural Telephony project. Each site will connect some 500 people in each community, which gives the indication that several millions of people will be connected to the data service and voice services when the project is launched.

Currently, telephone connections in the rural communities are very terrible, sometimes, even to the extent of people climbing trees just to be able to make a simple phone call.
The telecommunications companies or Mobile Network Operators (MNOs) who ought to step in to extend coverage by mounting masts in these areas refuse to do so. Especially for communities with populations below 1,000, due to certain commercial and economic considerations.

SEC offers clarity on government bailout package

September 4, 2020

West Africa Capital Market — Photo: Director General of the SEC, Rev. Daniel Ogbarmey-Tetteh

The Securities and Exchange Commission (SEC) has offered a comprehensive response to developments that have trailed its announcement detailing the commencement of payment to customers of 22 collapsed Fund Management Companies (FMCs) that have been duly validated and under liquidation.

The announcement, which was contained in a Press Release dated August 28, 2020, was greeted with uproar, particularly, by a Coalition of Aggrieved Customers of the Collapsed FMCs who organised a press conference where they described the actions of the SEC as deceptive and discriminatory. This was then followed by picketing at the premises of the Ministry of Finance where some of the leaders of the group were arrested for what the Police labeled as an illegal protest.

In view of this, the SEC, in a new statement, has sought to clarify its position on the bailout package, dispel the inaccuracies that were contained in the Coalition’s press conference as well as specifically address claims made by the management of Blackshield (formerly Gold Coast Fund Management), whose members constitute 82% of the Coalition, regarding the Commission’s interactions with them.

Purpose of bailout

The Commission reiterated that validation is a necessary pre-condition for accessing the government bailout. As such, the exclusion from the current payment of all firms other than the twenty-two that have been duly was in line with due process. “Receiving Government’s bailout is predicated on completion of validation and securing of liquidation orders. It is therefore a question of timing and nothing else,” the statement added.

Blackshield’s claims

The Commission debunked Blackshield’s claims that a directive it issued in 2017 directing it (Blackshield) to discontinue its Structured Finance product was responsible for a ‘bank run’, with customers making panic withdrawals which resulted in a backlog of payments fueling more panic, stating that the FMC was duly informed of the illegality of its guaranteed returns scheme and was asked to unwind its operations in 2018.

“It is noteworthy,” the statement read, “that complaints received at the Commission about the failure of Blackshield to pay clients started in 2018. A total of 153 complaints valued at GH¢147 million was received in 2018, representing 25% of total complaints received at SEC. In 2019, a total of 1,161 complaints from Blackshield’s clients (representing 52% of total complaints) were received valued at GH¢782 million.”

Blackshield’s failure to honor an agreed-upon payment plan and the actions taken by its customers to report the FMC to relevant authorities was cited.

Proposal for an alternate product

Furthermore, the statement described as an untruth, Blackshield’s claim that the Commission turned down its application for an alternate product – an instance mentioned by the Coalition for its claim that the SEC had access to all relevant customer data required for validation.

According to the statement, between December 2018 and March 2019, SEC gave audience to Blackshield for discussions and also gave an opportunity for a presentation on the said alternate product. The FMCs proposal was fraught with problems which it failed to address even after numerous opportunities were extended it.

“Some of the issues identified with the application for which Blackshield was asked to address was the omission of basic documents including but not limited to the following: audited Statement of Affairs, Legal Due Diligence report, Board and Shareholder Resolutions and Valuation Reports of their assets,” the statement highlighted.

Liquidation pending

Actions taken by the management of Blackshield, particularly filing an application in court on June 8, 2020 after what it termed as an unfair hearing before the Administrative Hearings Committee (AHC) over the matter of the revocation of its license has only served in stalling the validation process for its customers.

Addressing a key issue raised by the Coalition at their press conference, which referenced a letter by Frederick Boamah (PhD) of Akufo-Addo, Prempeh & Co. – legal representatives of Blackshield – the Commission in its statement said: “it is untrue that the SEC has had full access on three occasions to all client information of Blackshield and therefore the SEC cannot claim that it did not have records for validation.”

It added: “Blackshield submitted data in excel and the incompleteness of the excel sheet became evident after claims were submitted by investors. The excel sheet data enabled our agent to examine 2,275 claims (about 3% of the 82,204 claims filed) valued at GH¢26 million.

After persistent requests for access to all the records of Blackshield was unsuccessful, the SEC had to engage the assistance of a law enforcement agency who was able to retrieve the server on August 19, 2020. Our agent is therefore now able to proceed with the validation of the remaining claims filed against Blackshield.”

The Commission called for the cooperation of Blackshield for the sake of its customers as it reiterated its commitment to including customers of every collapsed FMC that has been duly validated in the phased payment of government’s bailout.

PIAC kicks against collateralisation of oil revenue

September 4, 2020

Photo: Mark Agyemang, PIAC's Technical Manager. Credit: Thomas Moore Adingo

The Public Interest and Accountability Committee (PIAC) has warned against the use of oil revenue as collateral for government borrowing, arguing that the practice could prevent the country from making the most of its hydrocarbon resources.

The warning comes after an analysis by PIAC showed that between 2014 and 2019, US$903million was withdrawn as excess over the cap on the Ghana Stabilisation Fund (GSF) to be used for supporting the Annual Budget Funding Amount (ABFA) – which is the portion of petroleum revenues earmarked for government spending in a particular year; but 90 percent of that fund went into the Sinking Fund, a fund created to shore-up government’s ability to borrow and pay.

“Looking at 90 percent going into the Sinking Fund, it is right to say that it is feeding into government’s appetite to borrow; you put in more money so that you can show to lenders that I have money in the Sinking Fund, and if the debt matures I can use this to pay for the debt. By doing this, we are starving the Contingency Fund, which should receive money just like the Sinking Fund. So, on what basis are we sharing the money between the various funds?” PIAC’s Technical Manager, Mark Agyemang, told the B&FT.

The Contingency, established by the 1992 Constitution, caters for unforeseen national emergencies like the COVID-19 pandemic, while the Sinking Fund/debt service fund is set aside for debt repayment or as collateral for borrowing.

In 2019, US$189.13million was withdrawn as excess over the cap (ceiling) of US$300million placed [at the discretion of the Minister of Finance] on the GSF. The excess was withdrawn into the Sinking Fund. This, PIAC noted in its 2019 annual report, defeats prudent management of oil funds and could have repercussions on socio-economic development.

The Committee, which is kicking against what it described as collateralisation of petroleum revenue, noted that government usually caps the GSF so low because it wants to put more money into the Sinking Fund to further its borrowing posture. This, it lamented, affect gains from the GSF, which is usually housed in short-term investments.

“The other thing is that the ABFA, which the government uses through the budget to implement projects and programmes, is side-lined. We are giving money to the Sinking Fund to the detriment of financing projects and programmes of national development,” Mr Agyemang added.

Intrinsically, he said, the Sinking Fund encourages government’s borrowing appetite – noting that debt ratio to GDP has consistently risen since the Sinking Fund became operational, from 51.16 percent to 63.85 percent between 2014 and 2019.

He added: “If you look at the analysis, since we started putting money into the Sinking Fund, the debt to GDP ratio has gone up; so there is a clear linkage that when we started operationalising the Sinking Fund in 2014, our borrowing spree also went up,” he added.

Way forward

Currently, the Petroleum Revenue Management Act (PRMA) is being reviewed; and Mr. Agyemang says is it is important to put in certain percentages regarding how much should go into the various funds, particularly the Contingency Fund – which he said is severely under-resourced.

“Secondly, a basis should be given for capping the GSF at a certain amount; you can’t cap it so low because you want to put money into the Sinking Fund. The essence of the GSF is to grow enough funds in order to cushion the national budget in times of revenue shortfall from petroleum,” he argued.

Nigeria turns to Korea for an end-to-end automated Customs Mgt System

September 4, 2020

ncs-ed5e — Photo: Nigeria Customs Service (NCS) in operation. Credit: Naijauto

Ghana’s next-door neighbour with the biggest trade hub within the West African region, Nigeria has also turned to Korea to provide them with a full end to end automation of the Nigeria Customs Service (NCS).

This was disclosed by Nigeria’s Minister of Finance, Zainab Ahmed at the end of the Federal Executive Council (FEC) virtual meeting in Abuja.

The deal which will be funded by a private investor according to the Nigerian authorities comes at a cost US$3.1 billion for period of 20 years on Build Operate and Transfer (BOT) with the unnamed investor as the technical partner for the Nigeria Customs Service.

This affirms the fact that the developing countries, especially those in need of revenue from cross-border trade, as well as facilitate trade across their borders, ensure security and transact business in a transparent, efficient and less costly manner, are turning to the Korean Customs Management System which is certified by the World Trade Organisation WTO and the World Customs Organsiation their best ally.

Korean’s Customs Technology is used by many countries around the world and is fully operational in these countries: Ecuador, Nepal, Mongolia, Guatemala, Kazakhstan, Kyrgyzstan, Dominican Republic and Uzbekistan.

In Africa, Ghana, Tanzania and Cameroun have adopted the technology. With Ghana ensuring that the system is tailored made to fit its system which is more import-dependent.

Even COVID-19 has seen cargos through our ports of entry has dropped at all points, including transit by about 45%, the Integrated Customs Management systems ICUMS which was deployed by the government with Ghana Link Network Service as the technical partners have seen good returns in terms of revenues generated since it went live nationwide on June 1, 2020.

Data from the Customs Division of the Ghana Revenue Authority GRA shows that Customs raised total revenue of GHC 816.41 million for June 2020 with Cargo dropping sharply compared to GHC 851.27 million collected in June 2019 when there was no COVID.

If you pick the Kotoka International Airport KIA, for instance, import duty revenues for June were GHc55.4 million, going up 20 per cent over the GHc46 million generated in June 2019, when trade activities were not curtailed by travel and trade restrictions.

The data available to this paper further suggests that revenues are rising sharply by the month. For instance, revenue from the Aflao land border for June was GHC 4,718,082.8, up from just GHC 791,183.50 recorded in March when ICUMS was rollout at the Land boarders. Again, revenue generated in June 2020 from the Elubo was GHC 4,038.105.31, also up from GHC 637,462.78 in March 2020. In Accra at the Jamestown Customs office in March 2020 raised some GHC 9,523,556 in June this year.

Also, if global container trade volumes are to contract by 11% in 2020 (in line with International Monetary Fund (IMF) projections of an 11% contraction of global trade) then an all-time high container ship idling rate of 15% would not be able to bridge the gap with the reduction of demand as well. This automatically means the country which is part of the global trade echo system will also suffer a drop in cargo volumes at the ports which will, in turn, have an impact on targeted revenues.

Meanwhile, data shows the performance of the ICUMS in June in some borders including the Kotoka International Airport very impressive.

It is also important to note that even in Tanzania, the introduction of the Korean Customs Management System (called TANCIS) in 2012 led to revenue increase from US$390 million in 2013, $495 million in 2014, and $651 million in 2015 and so forth.

Ecuador also implemented the same system model (Called it ECUPASS) IN 2011. In 2012, they collected revenue of $3.5 billion, $3.7 billion in 2014, and $3.9 billion in 2015. The ECUPASS also won a WCO Innovation award at a Technology Innovation forum in Argentina in 2013 (KCS, 2016).

The successes of the Korean Customs Management Systems in Africa and other parts of the world is what pushed the Nigerian Authorities to turn their attention there to secure the system to prevent the huge revenue leakages at the points of entry.

Finance Minister of Nigeria who disclosed this to the FEC meeting said the revenue expected from this automation pegged at $176bn, even though she fell short of giving further details on the arrangements of how the investor will recoup their investments.

Persons closer to the deal have disclosed that even though Ghana’s deal included scanning and all other activities that take place at the ports, that of Nigeria excludes Scanning which is going to be a different contract.

But it important to note that with the help of the Chairman of Ghana Link Network Services Ltd Nick Danso, Ghana got its system for the same price as the Nigerian authorities but for only 10years with the Customs Division of the Ghana Revenue Authority being the owners of the system with Ghana Link providing technical support for the 10 years contract period at 0.75 percent FOB.

Big push, as Shell and GOIL accepts gh-link cards

September 3, 2020

Ghana’s domestic card, the gh-link card has received a major boost as Shell has begun deploying Point of Sale (POS) devices that accept the domestic cards, at their fuel filling stations. Shell is the second oil marketing company to accept gh-link cards after GOIL. The deployment is being enabled by Zenith Bank.

Last month, GOIL entered into a partnership with the Ghana Interbank Payment and Settlement Systems (GhIPSS) and launched the gh-link card on GOIL’s Point of Sale (POS) devices for use across the country. That initiative made it possible for all the-link cards to be used to buy fuel and other products from GOIL stations.

With this latest development, people with a gh-link card can also buy fuel and other products from Shell fuel stations and pay with the card. Currently close to 100 of the Shell fuel stations have the POSes that accept the gh-link cards and more are being rollout to cover all their stations nationwide.

The acceptance of gh-link card by the two major oil marketing companies is expected to significantly increase the use of the domestic card.

The Bank of Ghana has instructed all banks to issue gh-link cards to ensure that their customers have the liberty to choose which bank card they prefer for their various transactions instead of being restricted to only one type of card. With major oil marketing companies accepting gh-link cards, many motorists will need the gh-link cards in order to also enjoy the experience of buying fuel and paying with their bank card.

gh-link as a domestic card is supposed to be issued by all banks in Ghana to their customers and transactions on the card are terminated locally. Normally, transactions on domestic cards are cheaper and disputes on transactions are resolved faster. In Ghana, the gh-link card has access to more ATM outlets than international cards.

Chief Executive of GhIPSS Archie Hesse commended Shell for deploying POSes that accept gh-link cards. He said the move will greatly enhance Ghana’s cash-lite agenda and encouraged motorists to acquire the habit of paying for their fuel with their gh-link cards.

Mr. Hesse said in an interview that that fuel stations accepting cards and other electronic forms of payment can eventually pave way for them to go back to 24-hour service. Fuel stations used to operate through to the next day but stopped that practice due to robbery attacks. But Mr. Hesse explained that if electronic payments become the default payments, fuel station should be able to resume the 24-hour service and earn more revenue.

Kodwo Manuel’s thoughts: Connect with customers by connecting with employees

September 3, 2020

CAPTION-DALEX-CUSTOMER-CARE-EXECUTIVES-RESPONDING-TO-ENQUIIRIES-25062018-750x430 — Photo: Dalex customer care executives responding to enquiries. Credit: Business Day Ghana

– create a customer-intelligent business

It is said that to understand the future we must understand the past. This assertion of life might generally have relevance when we reflect on how best to engage the customer. Becoming customer-centric may seem like the ‘cool’ thing to do for any business, with its consequent need for investments in cash and other resources. However, with today’s market demands, decisions have to be made not only faster but smarter, too.

This new environment means to manage your marketing strategy on gut-instinct alone is now untenable. According to Jim Goodnight, Founder and CEO of SAS Institute, we must address 3 difficult questions most industry players are grappling with if we want to thrive in the new normal. These are: how can I know my customers? How do I keep them engaged and loyal to my brand? How do I balance my budget to keep both customers and management happy? No clear answers here, except to say that it pays to learn a lot more about the customer.

Employee emotions connect with your customer experience

A good way to start this conversation is to observe how organisations have dealt with their employees during this pandemic. While some organisations have shown people-first policies, others have failed to provide any cushion of support for their employees. Retailer Next in the UK, which had closed its physical stores ahead of government’s guidelines, voluntarily closed its online operation due to concerns about the risk posed to employees in its warehouse and distribution centre.

At Airbnb, employees who were laid-off have received support from an Airbnb dedicated team to help find roles for those who lost their jobs. They are also offering ex-colleagues up to four months of external career services support, and the choice to keep their company laptops. In Ghana, health workers have shown immense compassion in offering support for unfortunate victims of the COVID virus at the risk of their own lives.

For the customer agenda to be at the centre of a business’s strategy, employees must first be beneficiaries of the positive experience, the employee experience. However, experts have judged that this is an unachievable goal; with competing needs in any business, this unrealistic goal will require a major cultural and strategic shift. To avoid this unachievable goal, seek to be customer-intelligent instead.

The customer-intelligent company leverages all of its knowledge and connects the customer into the very heart of its operation and decision-making. Think of your own life experience regarding a product you have tried, following adverts you may have seen which unfortunately did not live up to the hype. The human experience did not reach the standard set by the advert. It means the investment into the advert did not fully crystallise for the customer. In a family where apple products exist, you are likely to find that the apple device is credited with emotions – such that you probably will hear the children say “Can iPad go to school with us tomorrow?” This means that the iPad is seen as a member of the family, and it means Apple has effectively bridged the gap between technology and emotions.

Characteristics of a customer-intelligent company

The customer-intelligent company understands customer-empathy and manages its relationship with the customer by carefully nurturing an internal culture that thrives on great employee experience. Employees feel a greater sense of value, are happier and more engaged and are motivated to learn new skills. Google offers a great example of deliberately creating an environment where the concerns of employees are promptly addressed. In 2007, they noticed a lot of women leaving the company. HR analytics revealed the reason why they were leaving in hordes.

Their response was to change the paid maternity leave from 12 weeks to 5 months. The attrition rate of women decreased by 50% following that policy-change. The fact is that when the business performance takes precedence over customer attention, this can be costly in terms of customer promise. So for example, when Apple decided to withdraw the bulk of its frontline staff in stores, their customers reacted strongly and demanded a return to the practice. They listened and the rest is history.

Time and budgets spent resolving problems can be high if we miss out on responding to the customer’s needs ‘outside-in’. There are 2 lessons we can learn from this; a good question to reflect on is whether your staff know what experience they are required to deliver based on their understanding of your company’s mission and goals.

The advantage here is that if they associate with the organisation’s mission aptly, it will reflect on their customer-relationships in various ways – such as being friendly and focusing on consistent improvements to make your company’s products and services stand out. Next, your team must understand the precise points in the journey where value is created or destroyed. Findings show that there is a range of emotional clusters which may enhance or destroy the customer’s experience.

These are the advocacy clusters wherein a happy customer is likely to be an advocate – as was the case with Michael Gerber who shared his personalised hotel experience as a positive one, or the Amazon experience of handing you a good buy based on their observation of your browsing history. In the case of an insurance company, if a person died in military service would you demand to see a formal death-certificate before you paid out an insurance policy?

Customer-Intelligence is not a rebadging of CRM

Customer-Intelligence is a key component of Customer relationship management, offering insights into their behaviour and relationship with your brand. Customers who are window-shopping may offer very little by way of information about their product choices or preferences; consequently, their visit to your shop may not be captured in your CRM as no transaction takes place. In a customer-intelligent company, employees will be quick to try and find out (albeit randomly and subtly) why the customer did not make a purchase. Data captured from this process will offer deeper insights into customer behaviour.

The goal is to be able to establish what matters to customers to focus on how to keep the customer experience high on the list of your business’s strategic priorities. CRM thrives on technology, thus the distinction between the two must be clear; such that employees appreciate the role of customer-intelligence within the CRM platform. By integrating your customer-intelligence within the CRM system, you will develop a fit for purpose customer relationship strategy.

A customer-intelligent system must address 4 key attributes: first, it must identify information of value. Therefore, merely hobnobbing over streams of facts derived from business transactions will not be sufficient. What will add value to the process is where you can manage clusters of facts that are meaningful and useful to your organisation, leading to customer-centred decision-making. Second, they must address the context in which the data was gathered or processed.

An increased sale in football-boots may be due to a change in lifestyle, with more people playing to keep fit rather than a fixed pattern characteristic of the normal football season. Third, customer-intelligence will offer you more granularity to address data instances. So, for example, the customer attributes of any 2 customers will present information that is unique to each of them. Knowing buying patterns will help your business in terms of your capability to address needs more specifically.

Finally, the results of your customer-intelligence analysis should point to a course of action. You now know your customers better – enough to keep them engaged and loyal to your brand. Your customer-journey planning becomes easier and your development of touchpoints are more intuitive. It may go so far as leading you to rethink your value statements and motivate your employees to display traits that mirror your beliefs and practices with the customer as their focus. At Starbucks in the UK, the local barista is so friendly and resourceful that it’s hard not to strike up a conversation with her. This is because relationship building is part of their core values.

According to Starbucks’ mission and values statement, “When we are fully engaged, we connect with, laugh with, and uplift the lives of our customers – even if just for a few moments”. Great lessons to learn here if you are in the food business. Will you be selling great delicacies? Or would you rather be enthused by the streaming-in of regulars and new customers who find your service delivery in good stead, and willingly refer you to their colleagues? Turning your intuitive belief into real programmes means making customer intelligence an integral part of your business.

We understand, however, that the process of gathering customer intelligence is yet to reach maturity; therefore, enterprises should think twice before by-passing Customer Intelligence or giving up on it altogether. Be that as it may, the hidden truth is this: it is impossible to build an effective customer relationship strategy on the strength of CRM alone.

Enterprises must leverage customer data to gain an in-depth understanding of the marketplace, and thus maximise corporate strategic goals. Good customer experience management can strengthen brand-preference through differentiated experiences and boost revenue with incremental sales from existing customers, and new sales from word of mouth.

Your efforts at customer intelligence will improve customer loyalty – and create advocates through valued and memorable customer interactions, but it must start through the nurturing of an employee-focused internal culture. This will be the recipe for your business to transform into being customer-intelligent.

Photo: Kodwo Manuel, Managing Consultant at Capability Trust Limited

The writer is the Managing Consultant at Capability Trust Limited, a People and Learning Organisation serving the market with Talent Acquisition and Management, Leadership Development, HR Outsourcing and general HR Advisory, Training and consulting services. He can be reached on 059 175 7205, [email protected]/ www.linkedin.com/in/km-13b85717

Vodafone dedicates September to SMEs’ growth

September 3, 2020

Photo: Tawa Bolarin, Director of Enterprise Business Unit (EBU) at Vodafone Ghana. Credit: Vodafone Ghana

Vodafone Ghana has reinforced its commitment to helping Small & Medium Scale Enterprises (SMEs) become more resilient and continue to experience growth during this pandemic by dedicating the month of September to SMEs.

The telco, as part of this year’s celebration, has outlined a host of initiatives purposely aimed at helping SMEs transition from surviving to thriving businesses during this pandemic. These include free digital advertising opportunities, free website presence for six months, free use of Vodafone’s Bulk SMS platform for promotional campaigns, twelve months free insurance cover as well as other unique products.

Additionally, Vodafone has once again partnered with the Makola Foundation to train market traders and business owners on digital skills. This forms part of its drive to accelerate SMEs’ adoption of digital solution.

The virtual capacity-building programme will also educate participants on how digital solutions such as Vodafone’s Red Trader, Mobility Solutions, and Vodafone Cash enhance productivity. Together with MicroEnsure and the United Nations Capital Development Fund, we will also provide FREE insurance cover for over 200 SMEs.

Commenting on the initiative, Tawa Bolarin, Director of Enterprise Business Unit (EBU) at Vodafone Ghana said: “Technology is transforming the global economy and our pre-occupation as the enterprise unit of Vodafone Ghana, is to help businesses succeed in this digital world. With our expertise in connectivity and emerging technologies, we continue to enable SMEs progress and thrive during this pandemic.

SMEs are the bedrock of every nation and deserve the best of innovative solutions to grow and connect better with their customers. We believe that empowering them will improve their productivity and agility, which will ultimately contribute to Ghana’s economic development. This is why I am particularly excited about the many initiatives we have put in place this month to develop, transform and create digital SMEs.”

Vodafone since the pandemic has developed unique products including ‘Your Business Online’ to boost SMEs’ growth. The leading enterprise communications provider also introduced the Vodafone Business Runway platform, a new webinar series aimed at empowering SMEs with the requisite skills, insights and opportunities that will enable them manage and build thriving businesses.

The telco’s leadership in the SME space reaches its peak every year in September. Throughout the month, Vodafone engages SMEs across the country through various initiatives, to empower, celebrate and reward them. This campaign is part of its commitment to transforming SMEs in the country and maximizing their digital potential.

Ghana Upstream Petroleum Chamber meets with Secretary to Economic Management Team

September 3, 2020

Photo: FPSO Kwame Nkrumah. Credit: Graphic Online

The Ghana Upstream Petroleum Chamber has called on the Secretary to the Economic Management Team, Prof. Joe Amoako-Tuffour, in the Vice President’s office at Jubilee House.

The team was led by Mr. Joe Mensah, Senior Vice President & Head of Kosmos Energy Ghana; Chairman of the Council of the Chamber, Mr. David Ampofo, CEO of the Chamber; and Mrs. Kadijah Amoah, Country Director of Aker Energy Ghana Limited and Council Member of the Chamber.

They exchanged ideas with Prof. Amoako-Tuffour on ways of addressing present challenges facing the oil and gas sector. The sector has been hard hit following the near-collapse of crude oil prices, which occurred after outbreak of the COVID-19 pandemic and its hugely negative impact on global supply chains and businesses – resulting in what has come to be known as ‘the new normal.’

The parties discussed the current fiscal and regulatory environment and explored ways of matching today’s uncertainty with opportunity. Mr Joe Mensah called for a frank conversation with policymakers, saying “the whole fiscal regime needs to be re-evaluated”. Commenting, CEO of the Chamber Mr. David Ampofo said: “Clearly, it cannot be business as usual given the wide-ranging impact of COVID-19.”

Mrs. Kadijah Amoah applauded government’s announcement that it is considering implementing a taxation sliding scale, adding: “It increases government’s take in a high oil price environment and adjusts downward in a low oil price environment.”

Professor Amoako-Tuffour expressed gratitude to members of the Chamber for providing input to the ongoing discussion on how to manage current challenges in the oil and gas industry. He said there is a need to encourage investment in exploration in an uncertain price environment, and ultimately support Ghana’s accelerated growth strategy.

Gold Fields grabs 5 HESS awards

September 3, 2020

Gold Fields Ghana received massive recognition at the 2020 Health, Environment, Safety and Security (HESS) Awards for its impressive sustainable development practices in environmental management, safety and social investments.

The gold mining company, which operates the Tarkwa and Damang Mines in the Western Region, picked up five awards at the event that was held last Friday.

The awards include CSR Excellence Award, Best Company in HESS Compliance, Reporting and Monitoring; Best Company in Environment Protection Campaign; HESS Team of the Year and HESS Company of the Year.

Gold Fields said it prioritises environmental stewardship, safety, governance and compliance at its operations in line with the company’s vision to be the global leader in sustainable gold mining.

“We are proud of our sustainable development initiatives. As a responsible mine, we continue to set high standards in operational excellence, environmental stewardship and host community and national development,” said Francis Eduku, Vice President and Head of HR and Corporate Affairs.

He added that the five awards show the company’s commitment toward better environmental management, health, safety, regulatory compliance and high-impact social investment practices.

Gold Fields said some of its key sustainable development activities in 2019 include rehabilitation of large swathes of land with vegetation; improved safety record; robust energy management practices; reduction in carbon emissions; compliance with regulatory requirements and international best practices; as well as building a resilient workforce that feels empowered to confidently speak up about unsafe and unethical practices.

Mr, Eduku commended the entire workforce of Gold Fields for living the company’s values of safety and responsibility.

“We couldn’t have achieved this impressive feat without the dedication and commitment of our great teams at our Tarkwa and Damang Mines, who continue to ensure our strict adherence to best practices in environmental management, safety, compliance, governance and community relations.”

Renewables growth is an opportunity, not threat to ECG – IES

September 3, 2020

Gov’t, ECG should focus on minimising systemic losses
Pay suppliers, power generators, transmitter on time

The growth of renewable energy in the country should be seen as an opportunity, not a threat to the viability and future growth of the Electricity Company of Ghana (ECG), the largest distributor of power, the Institute for Energy Security (IES) has said.

The IES believes that renewables such as solar and wind power, must rather be seen as presenting healthy competition to the traditional power systems or sources, and government must step-up its effort at increasing renewable energy in the country’s energy mix.

“Renewable energies are presenting themselves as a superior alternative to thermal power plants fuelled by hydrocarbons. Businesses seeing electricity cost as a key element in their operational cost will definitely advance toward the cheap energy sources. It must be in the interest of the government that industries have less electricity cost to bear.

“It is one sure way to guarantee moderate prices for goods and services in the country. Indeed, without cheaper electricity supply, economic transformation through improved productivity in manufacturing and services, and promotion of value-addition in resource-based economies would not be possible,” Nana Amoasi VII, Executive Director-IES, said in an interview with the B&FT.

Last week, the Director of Renewable and Nuclear Energy at the Ministry of Energy, Wisdom Ahiataku-Togobo, told the B&FT in an interview that the ministry is contemplating measures that need to be put in place to ensure a boom in solar and another renewable energy usage will not threaten the viability of the nation’s power distributor.

He noted that there are growing worries from energy sector players about the emergence of renewables which could threaten the financial sustainability of the ECG; but many analysts, including the IES, noted that such worries are unfounded since renewables are the present and future of energy.

Data from the International Renewable Energy Agency (IRENA) show that more than 50 percent of the renewable capacity added in 2019 achieved lower electricity costs than new coal. Solar photovoltaics (PV) reveals the sharpest cost decline over 2010-2019 at 82 percent, followed by concentrated solar power (CSP) at 47 percent, onshore wind at 40 percent, and offshore wind at 29 percent.

Globally, electricity costs from utility-scale solar PV dropped 13 percent year-on-year, reaching nearly 7 cents (US$0.068) per kilowatt-hour (kWh) in 2019. Onshore and offshore wind both fell about 9 percent year-on-year, reaching 5.3 cents and 11.5 cents per kilowatt-hour respectively for newly-commissioned projects.

To Nana Amoasi VII, with the growth of green energy – environmentally and economically justifiable – businesses will become less dependent on the grid as they migrate to renewables. Therefore, this is the best opportunity for the ECG to be operationally efficient.

He recommended that government and the ECG concern themselves with the high technical and commercial losses the power distributor has been incurring year after year.

“Those losses are the reason for which the ECG has been struggling to post profit over the past three years, and is struggling to meet its debt obligations. The poor cash collection from consumers has resulted in huge debts owed suppliers, power generators and the transmitter, Ghana Grid Company (GRIDCo),” he said.

For instance, the monthly cash payment analysis carried out by the IES for first-half of 2020 (HY1/2020) showed that the amount owed by the ECG to GRIDCo totalled close to GH¢451.468million. However, the ECG paid only GH¢188.198million – representing 41.69 percent of total invoices issued over the period.

“Aside from defaulting on its debt obligations, the illiquidity also makes it difficult for the power distributor to maintain its system, resulting in high technical losses. Adequate financial outlay is required to fix the inefficiencies in ECG’s distribution network due to the obsolete nature of some of the equipment in the system,” the statement noted.

Nana Amoasi VII stressed that the ECG’s financial viability is therefore threatened by these key factors. “The ECG stands a much better chance of being viable if only it can address the commercial and technical losses it has been battling with for years.”

Off-grid options required to meet 2025 target

The Executive Director of the energy think-tank explained that off-grid electricity supply is required to ensure that Ghana can meet its goal of universal electricity access by 2025; therefore, going the renewable route is the only way of achieving that target.

Over the last three years, the annual electricity access growth rate has seen a substantial decline – from 2.7 percent to a paltry 0.6 percent. As at the end of 2019, the country had obtained a national electricity access rate of 85 percent.

“Had the country maintained just the annual rate of roughly 2.7 percent or more, electricity access rate would have been somewhere around 95 percent by the close of the year; a rate that is comparable to other countries outside the sub-Saharan Africa and Asia band.

“The near-universal access was not to be, because a considerable proportion of communities awaiting connection to the national electricity grid are currently difficult to access due to the fact that they are lakeside communities, with others planted on islands that require connection by submarine cables. The ECG cannot conveniently provide power to such communities. Hence, it may take the deployment of renewable energies to achieve universal electricity access in the country.”

75 police barriers between Tema and Paga pose major threat to trade

September 3, 2020

Photo: IGP James Oppong-Boanuh, left, and CEO of the GSA, Benonita Bismarck, right. Credit: Osei Owusu Amankwa

…Shippers’ Authority fears for smooth implementation of AfCFTA

As the country prepares for the January 2021 commencement of the African Continental Free Trade Area (AfCFTA), the Ghana Shippers’ Authority (GSA) has made some moves to ensure that the nation’s transit corridor is devoid of any barriers that impede the free movement of goods.

As a result, the GSA conducted road trips and monitoring exercises along the corridor and identified 75 police barriers between the seaport of Tema and Paga, the connecting point into Burkina Faso and most of the Sahel region.

The GSA also noted that the barriers are not only the slowing movement of goods and trade but also serving as a conduit for some officers of the service to extort money from transit shippers – especially truck drivers for supposed road traffic infractions. The authority has submitted its findings to the Ghana Police Service and entreated the service to work on reducing the number of barriers on the stretch.

To this extent, the Ghana Police Service and the Ghana Shippers’ Authority have renewed their commitment to work together on removing trade barriers along Ghana’s transit corridor. The two-state agencies made the pledge when the Chief Executive Officer (CEO) of the GSA, Benonita Bismarck, paid a courtesy call on the Inspector General of Police (IGP), James Oppong-Boanuh, earlier this week.

She informed the IGP about the establishment of an e-platform by the GSA in collaboration with the Borderless Alliance to provide real-time solutions for non-tariff barriers to trade along Ghana’s transit corridor. Ms. Bismarck said with the ongoing expansion works in the Tema Port, it is expected that trade will increase between Ghana and the landlocked countries of Burkina Faso, Mali and Niger.

The development, she said, “has led to increasing cost of doing business along the corridor, along with the associated delays which sometimes cause damage to perishable goods”, therefore appealing for the IGP to assist the GSA in resolving the challenge.

For his part, Mr. Oppong-Boanuh assured the GSA of the Police Administration’s support in removing non-tariff barriers along the corridor. He intimated the appointment of liaison officers to work with regional commanders to collaborate with the GSA on addressing the issue. He appealed that shippers and truck drivers should report officers who extort monies from them, so they can be sanctioned.

Explaining why there is an increased number of police barriers along the corridor, the IGP said the proliferation of weapons and pockets of violence registered in the sub-region coupled with fighting crime internally have given cause for the service to put in extra measures to keep the country safe.

Online education not inferior, gov’t should expedite public open university – Prof. Goski Alabi

September 3, 2020

The President of the Laweh Open University, Professor Goski Alabi, has called on the government to expedite institution of the public Open University – stating that it is the prudent thing to do in light of the disruptions to university learning caused by COVID-19; and also it aligns perfectly with the ongoing digistisation agenda.

She argued that the perception of e-learning, particularly at the tertiary level, being substandard vis-a-vis traditional methods is erroneous; as online learning offers many advantages over in-person meetings.

Speaking to the B&FT on effects of the COVID-19 pandemic on education and the way forward, she admitted that while there might be apathy or outright resistance from some faculty members and students alike, the returns which the added transparency, flexibility and accountability brings will raise the quality-profile of graduates produced by the local universities, as plagiarism and large-scale malpractices will be minimised to the barest minimum, if not entirely eradicated.

“For one, online teaching and learning is more timely and engaging than face-to-face. The curriculum must be well-structured, standardised and ready online. Unlike the traditional whereby students must go to school before they are given the course outline.

“Whatever the lecturer has taught, the system will show that the lecturer has taught it. When students do their assignments, the system will show proof. The level of transparency and accountability is very high. We won’t have a situation wherein the lecturer is supposed to cover lessons over twelve weeks, but does it in three or four weeks and gets away with it. It’s just not possible with online teaching and learning.

“Also, a lecturer cannot cheat for a student who has missed an assignment – especially as there’s an online ‘plagiarism-checker’ to ensure credibility. You also won’t have a situation where the recommended material is not available [online]. The book, the chapters are available; it is already within the system,” she explained.

This, she noted, is important – especially in view of recent high-profile cases involving examination misconduct as well as the comparatively low rankings recorded by the nation’s universities.

Citing examples from other African countries like Nigeria and Tanzania, she further explained how e-learning would significantly increase the intake capacity of universities. “Our public universities currently have an intake capacity of less than 150,000 students. How will we deal with the approximately 500,000 expected to graduate from our second-cycle schools? Online learning provides the answer,” she stated.

Not unaware of the current structural handicap, Prof. Alabi indicated that she would not advocate for abrupt implementation of wholesale e-learning, but rather a phased, blended learning approach.

“I would recommend blended learning, particularly when it comes to the practical professional courses… There are science and social science simulations available for practical work. Of course, for the sciences, for some practicals, you would need a degree of human interaction; but we have augmented and virtual reality solutions which allow for this.”

She called for stakeholder engagement in the provision of affordable and reliable data services, as well as highlighted the opportunities which abound for local software and hardware players to drive innovation.

First National Bank outdoors new package for SMEs

September 2, 2020

Photo: First National Bank’s Head of Commercial and Business Banking, Mark Achiampong. Credit: First National Bank

First National Bank Ghana, a subsidiary of the FirstRand Group of South Africa, has announced the introduction of a tailored package for small and medium-scale enterprises in Ghana. The package is intended to help address some major challenges that hinder the growth of SMEs in the country.

With this new package, small and medium corporates can start, run and grow their businesses with special transactional capabilities that give them 24/7 access to First National Bank’s award-winning enterprise platform, automated deposit terminals, email statements, forex and trade services, customized credit facilities and a daily cash pick up service.

Mark Achiampong, First National Bank’s Head of Commercial and Business Banking says the new SME offering is hinged on three key pillars-Start, Run and Grow, is packed with a suite of business toolkits as well as advisory services for small and medium businesses.

He said this is timely considering the challenges impacting the SME sector due to the Covid-19 pandemic. “Our new business Gold cheque account is versatile, with hassle-free options that allow you to perform your daily transactions and are suited to small-medium enterprises (SME’s),” Mr. Achiampong said.

“Interest is paid on all balance held in your Gold business account irrespective of the amount. You earn a free Gold card and access to all our merchant services at a flat monthly fee. There is also an added value to your business if you sign up as one of our Agency Plus partners-a convenient way of partnering FNB Ghana to use your shop to provide banking services in your neighbourhood for a commission”.

On the bank’s round-the-clock online banking service, Mr. Achiampong explained that it is an innovative, web-based offering which gives customers secure, controlled, real-time access to accounts and online banking functionality. “We have automated deposit terminals in all our 11 branches giving you 24/7 access to all our banking services, including deposits,” he says.

“Trade services like global payments can be carried out on our robust digital platform. You can monitor your business activity in real-time and reduce internal fraud with FREE inContact Pro, and Email Statements. Details of your business transactions and email statements are all delivered to your inbox for free.”

Mr. Achiampong also pointed out that First National Bank’s SME package also allows SMEs to apply for an overdraft or business loan quickly and easily. Interested businesses can access this package by visiting any of the First National Bank Ghana branches in Accra, Tema, Kumasi and Takoradi or alternatively through www.firstnationalbank.com.gh for further assistance.

First National Bank Ghana is a subsidiary of South Africa’s FirstRand Group which is the largest bank by market capitalisation listed on the Johannesburg Stock Exchange – Africa’s largest bourse. First National Bank is leveraging on the experience and financial muscle of its parent company to excel in Ghana.

Editorial 2: Revision of Nationally Determined Contributions (NDCs) proper

September 2, 2020

NDC — Photo: Some stakeholders at the Africa Climate Week held by UNDP Ghana. Credit: UNDP Ghana

Unlike the Kyoto Protocol that established legally binding emissions reduction targets, the Paris Agreement requires all countries — rich, poor, developed, and developing — to do their part and slash greenhouse gas emissions.

To that end, greater flexibility is built into the Paris Agreement: No language is included on the commitments countries should make, nations can voluntarily set their emissions targets (NDCs), and countries incur no penalties for falling short of their proposed targets.

What the Paris Agreement does require, however, is the monitoring, reporting and reassessing of individual and collective country targets over time, in an effort to move the world closer to broader objectives of the deal.

Highlighting the challenges posed by COVID-19 on the climate change agenda, Deputy Resident Representative of the United Nations Development Programme (UNDP) in Ghana Ms. Silke Hollander observed that the response to the pandemic and green recovery efforts also present a window of opportunity to build back better and design bold and long-term climate actions.

Consistent with Article 4.9 of the Paris Agreement on successive updates every five years, Ghana is one of the pioneers to start its NDCs revision process.

The revision process falls under the NDC Support Programme, which has been UNDP’s primary mode of support for countries to support NDCs implementation readiness and institutional capacity.

Government, through the Ministry of Environment, Science, Technology and Innovation (MESTI), launched the revision process of Ghana’s Nationally Determined Contributions (NDCs) to strengthen implementation of national priorities on climate change adaptation and mitigation to achieve low carbon development in the country.

The revision offers a good opportunity for Ghana to raise its ambition and integrate emerging policies into climate change actions at the national level of carbon development in the country. Research makes clear that the cost of climate inaction far outweighs the cost of reducing carbon pollution.

A worldwide failure to meet the NDCs currently laid out in the agreement could reduce global GDP by more than 25 percent by century’s end.

With the Paris Accord, leaders from around the world collectively agreed that climate change is driven by human behaviour; that it’s a threat to the environment and all of humanity; and that global action is needed to stop it.

Post COVID-19, the country needs to reassess its climate-altering pollution and strengthen the aforementioned commitments over time.

InfoSec Advisory with Del Aden: Your data is exposed on public WiFi!

September 2, 2020

Using public Wi-Fi on business trips is unavoidable…more so in this era of ‘Work from Home’. Public WiFi is a convenient choice for staying online all the time and is a great alternative to using up your mobile data, especially on business trips. We can all agree that it’s great, but are you sure that these WiFi hotspots you’re connected to right now is safe?

The main weakness of many free WiFi hotspots provided in coffee shops, airports, hotels, and other public places often lies in poor router configurations and even more frequently – in the absence of strong passwords. The lack of basic protection is precisely what makes WiFi users easy prey for cybercriminals and other malicious actors that are always on the lookout for gaps in security they can exploit.

Having your organisation confidential information stolen or becoming a victim of identity theft doesn’t sound fascinating, does it? But this is what may happen if you keep connecting your smartphone or laptop to random WiFi networks without taking necessary precautions to keep your data safe

The danger of Public WiFi

How hackers attack you on public WiFi

There couldn’t be an easier target for hackers than free unprotected WiFi hotspots – they are super easy to compromise and yet very few people think twice before connecting to them. Once a criminal gets on the same network that you’re on, they can use various techniques to invade your privacy.

Here are the most popular ones that require minimum skills and effort:

Evil Twin attack – In an Evil Twin attack, cybercriminals use fake access points created to look like the real ones. For example, if a coffee shop provides a wireless guest network named “Espresso_Guest,” hackers could design a similar network of their own and call it “Espresso_Guest_FREE.” The trick is simple, yet effective: once you connect to the evil twin, all your communications become visible to the hacker behind it.
Malware injection – On an unsecured network, malicious code can slip into your device at any time – when buying flight tickets, or having some work done while sipping your morning coffee. Malware is especially nasty – once it infects your device, it can damage or shut down the system, steal your bandwidth, or give cybercriminals complete freedom to access your personal files. As certain types of malware are created to work imperceptibly, it can be extremely difficult to detect and get rid of them.
Man-in-the-Middle (MITM) attack – the cybercriminal stands between your device and a website or service you are trying to access. This allows them to monitor your Internet traffic without you having a clue this is happening. From there, they can watch you typing your passwords, read confidential business emails, and even lure you into fake login pages to steal your banking credentials.
WiFi sniffing – allows hackers to see all the data that is passing through the network. With the help of pretty basic software, which is easy enough to use and legal to get, they can spy on your browsing activities, see the login information that you type, and break into your online accounts to steal more sensitive data or money.

Securing your data on public WiFi – steps you need to take

Unfortunately, all of these tricks above are easy for even an unseasoned hacker, so it’s extremely important to be aware of the possible threats and learn how to protect yourself. Do not forget basic precautions, because even the most advanced security tools won’t protect you 100%, especially if you tend to look for trouble yourself.

Here’s a list of what you should and shouldn’t do on public WiFi:

Accept the fact that anyone can fall a victim of cybercrime. Too many people somehow still believe that they are not interesting enough to be hacked. Remember, anyone who joins an unprotected network has equal chances to get their data compromised.

Disable automatic connections. This will prevent your device from automatically joining the networks you have previously connected to if you happen to be nearby but are not planning to use them.

Don’t just connect to any WiFi. If you see two similar looking WiFi names, remember that one of them may be fake. Therefore, it’s better to double-check with a staff member before joining a free public network.

Don’t log into sensitive accounts: If you’re on public WiFi, perhaps the safest advice is to simply avoid going into your bank accounts and other sensitive accounts that would be most appealing for hackers. This may also include your work email and social networking sites, as people tend to share private information over these channels.

Turn off file sharing and check your firewall. Just to be safe, it’s always best to turn off file sharing on your computer while you’re on a public network.

Get a reliable VPN. If you don’t fancy the idea of someone snooping on your online activities and using your sensitive data for their own benefit, buying yourself a reliable VPN is what you should be doing at this very moment.

You can stop a WiFi hacker with a VPN. Here’s how

VPN is by far the most robust protection you can get to protect your privacy and stay secure on public WiFi at the same time.

Contrary to what many people think, VPN is not rocket science, nor is it an advanced tech tool. It is a virtual private network, which sends your Internet traffic through an encrypted tunnel, making it extremely difficult to intercept or decipher. Once you have a VPN app on your phone, laptop, or tablet, all you have to do is connect to a remote VPN server, and you can join any wireless network without putting yourself at risk of becoming a hacking victim.

What’s more, VPN allows you to hide your location by replacing your IP address with the IP of their remote VPN server. Not only does this help to protect your identity from hackers, ISPs, and other snoopers, it also allows you to securely access restricted websites. This is particularly handy if you are traveling abroad and want to keep access to specific content and social media services.

With a VPN on, you can securely connect to public WiFi provided at your hotel room and access the websites you want as if you were at home.

In conclusion, stay secure in 2020 and beyond

With 2020 shaping up to be a record-breaking year for cybercrime, it’s more important than ever that your business is prepared for anything and protected against the latest threats. With cyber-attack capabilities increasing and cybercriminals’ motives rapidly reacting to global events, remaining vigilant to Cyber-attacks is paramount to business survival this year and beyond.

Investing in VPN protection as part of your cybersecurity strategy ensures your business is protected from downtime at the hands of unexpected threats.

Choosing the right security partner that understands these threats is highly desirable

Discover security with Delta3 International – It’s our mission to make sure your business is as secure as possible, whatever new threats arise. Speak to our security team today or request a call back via our WhatsApp line +233 234 160 272

Support Information Security in Africa by sponsoring this Weekly Article and promote your Brand

About the Author

Del Aden: As an Enterprise Architect and Information Security Consultant, Del Aden is an industry-recognized security expert with over 20 years of hands-on experience in consulting, training, public speaking, and expert witness testimony. As the Managing Partner for Delta3 International, Del now focuses on helping customers prevent security breaches, detect network intrusions, and respond to advanced threats. An astute speaker and trainer, Del is on the cutting edge of cybersecurity research and development. For comments, contact author: [email protected] Phone / WhatsApp:+44 7973 623 624. Website: www.delta3.co

Editorial: Pay urgent attention to National Occupational Safety and Health bill

September 2, 2020

Mechanical-Equipment-Failure-Workplace-Accidents-830x464 — Photo: Workplace-accidents. Credit: Machine Accident Lawyer

Chief Inspector in Charge of Factories at the Ministry of Employment and Labour Relations, Fred Ohene Mensah, is calling on industry to push and make noise about the National Occupational Safety and Health Bill that is presently before Cabinet.

The National Occupational Safety and Health bill is still languishing at Cabinet-level after more than 30 years. First introduced to Cabinet in 1989, the bill has appeared twice at the subcommittee level of Cabinet but is yet to move from Cabinet to lawmakers in Parliament.

Last year, the Minister of Employment and Labour Relations, Mr. Ignatius Baffour-Awuah, said on the ‘World Day for Safety and Health at Work’ that Parliament will pass the Occupational Safety and Health (OHS) bill into law b end of the year

As the country gradually becomes an industrial nation, the development will expose a large percentage of the workforce to health and safety hazards at the workplace.

The Labour Department of Ghana’s Annual report (2000) gave a total of 8,692 work-related accidents reported to the Department for compensation claims. Industrial or occupational accidents can have, and in fact, do, have a great effect on the mental health of victims as well as others who witness the incident.

Currently, Ghana does not have a national policy on occupational health and safety management as the ILO convention number 155 (1981) requires. This is crucial and must not linger, hence we understand the call by the Chief Inspector in Charge of Factories in corporate Ghana to push the government to make health and safety a security factor.

Though the Factories, Offices and Shops Act 1970, (Act 328), the Mining Regulations 1970 (LI 665) and the Labour Act 2003 (Act 561) have some regulations about health and safety management in the work environment.

This can be considered not detailed enough since it does meet the requirements of a comprehensive bill that seeks to promote a safe work environment for all stakeholders. There is a need for a national policy to direct handling of health and safety at the workplace, to ensure that the work environment is free as much as possible from undesirable elements.

Numerous injuries, illnesses, property damages and process losses take place at different workplaces, but because of under-reporting or misclassification due to lack or thorough standards, or unfamiliarity with the existing guidelines, people are not normally in the know of such events – or their actual or potential consequences.

Austin Okere’s thoughts: Cybersecurity and risk mitigation

September 2, 2020

“Twitter hack: 130 accounts targeted in attack” was the screaming headline on the BBC’s website on July 17, 2020.

Two days earlier, the social media site had admitted a major cyber-attack of celebrity accounts. The security breach saw accounts including those of Barack Obama, Elon Musk, Kanye West and Bill Gates tweet a Bitcoin scam to millions of followers. Several Bitcoin-related accounts began tweeting what appeared to be a simple Bitcoin scam, promising to “give back” to the community by doubling any Bitcoin sent to their address. Then, the apparent scam spread to mainstream celebrity accounts such as Kim Kardashian West and former vice-president Joe Biden and those of corporations Apple and Uber.

Twitter is not the only high-profile company that has been hit. Just about every other company you can think about has suffered a similar fate. The roll call of victims includes Rupert Murdock’s News Corp, Sony PlayStation Network, Government of turkey, Britain’s Serious Organized Crime Agency, and the CIA amongst others.

The story of hacking will not be complete without Anonymous; a sophisticated group of politically motivated hackers who have emerged since 2011. Anonymous are demonstrating how vulnerable companies that are charged with protecting our data are. Anonymous hacked 485 Chinese government websites, some more than once, to protest the treatment of their citizens. Among their major successful hacks are Visa, MasterCard, Amazon, PayPal, PostFinance, Bank of America, and Sony Computer Entertainment. We are at the beginning of the mighty struggle for the internet with the aged old dilemma that pits the demands of security with the desires for freedom.

Cybercrime has now become so prevalent globally that there is hardly any organization that is yet to be hacked, and Nigeria is no exception. In fact, it is said that there two types of organizations, those that know they have been hacked and those that don’t. If in doubt, ask your customers, and they will have a bucketful of useful feedback for you.

The increasing trends in cybersecurity breaches are due to the following factors; the rise of Artificial Intelligence (AI), adoption of Internet of Things (IoT) – with over 25b devices forecasted to be connected by 2025, globalisation of cybercrime, the cybersecurity skills gap that continues to grow, Increased skill levels of attackers, increased use of the Public Cloud, increasing reliance on technology and digitisation – (now fuelled by the pandemic and working from home) and attackers risk/reward imbalance amongst others.

Polls at a recent cybersecurity webinar that I facilitated was very revealing:

54% of respondents said they had been hacked
31% said their company had been hacked
67% considered PEOPLE the weakest link in cybersecurity – way over Process, and Technology.

And yet we spend significantly more money on products and technology, with little emphasis on mass education.

Hiring the most accomplished CISA, however, will not do very much good if there is not a deliberate policy of self-awareness of all staff, especially during this period where there is an explosion in people working from home and connecting to enterprise servers through personal systems that could more easily be compromised. Neither is buying the most expensive antivirus the magic wand. It is like having the best pizza toppings without the base bread. Or like having the best machine learning algorithm without the Big Data that the system will use for pattern detections.

Cyber-attacks can have a significant business impact including; loss of funds, theft of intellectual property, serious disruption to business, damage to reputation, loss of customer trust, huge regulatory fines, litigation costs and possible bankruptcy.

Risk mitigation against cybersecurity is most effective in its Dynamic Collaborative Form. Dynamic because it requires a shared Body of Knowledge that is consistently updated and available to all parties. Risk mitigation cannot be a competitive strategy for any organization; this notion could be quite illusory because the nature of cybercrime can be likened to an elephant. People at the side may think it is a wall, people at the trunk may think it is a snake. People at the tail may think in it is a monkey, and people at the leg may think it is a tree trunk.

As in the case of the elephant, it is only when you have curated the complete and accurate picture through which the breach can manifest that you can effectively deal with it or contain it. This is why there is a need for constant collaboration and open and transparent reporting, similar to the way that the COVID Pandemic is being collectively monitored and reported globally. This is what helped to curb the chain email fraud also known as “419” and many malicious computer viruses unleashed to take over users’ systems.

Governments and private establishments can improve the protection of critical infrastructure from cyber-attacks by following the following basic principles:

The first rule is not to assume anything is secure.
Second is not to assume you will not be targeted.
Third, is to realize that modern systems have so many moving parts that you can’t really use a strategy of owning all of it, partnerships are essential.
Nations have to build extreme levels of expertise across a wide threat surface. It’s no use protecting the databases while the CCTVs in the President’s office and residence have been compromised.
Nations have to build cyber armies and cyber police to tackle external aggression, protect national assets and protect their citizens.

The most dangerous intruders are not the ones with guns but the ones with laptops. The terrorist killing people with bullets is “small fish” compared to the one that can make planes fall from sky or trains crash, or provoke a riot or influence an election without leaving any trace.

Cyber-attack is the new normal. Organizations and Technology Providers can mitigate these attacks by Perpetual state of vigilance. Every internet-connected or smart device is a potential back door. From the internet-connected TV to your webcam or printer. Even if nothing is stolen from you, your resources can be hijacked to attack others. Don’t assume you have enough expertise to be in a constant state of vigilance all by yourself. Cyber products and cyber companies are also at risk.

If you are a transaction-oriented company then you have to be using Artificial Intelligence to watch out for fraudulent transactions. If you are a data company then you need to think of encrypting data at rest and in transit. Two-factor authentications are a must for all sensitive access. Walling off all critical systems from the net as a last means of firewall is simply not a practical solution.

Are organizations and private establishments in Nigeria doing enough to collaborate on threats? I believe that we could do more.

There should be a national Security Operations Center (SOC) and threat Database where all incidents are reported. This center should also disseminate threats and analyze incidents to help others prevent similar infiltrations. Many firms, especially banks, think it will impact their brand if they disclose vulnerabilities and attacks. The under-reporting or cover-up of breaches portends a vicious cycle of repeated unanticipated hacks because you are inadvertently empowering the hackers to cause more damage to you by not reporting and exposing them and their future hacking plans.

Working in silos is not an option, because even when you believe you have secured your fortress; how do you guard against third parties connecting to your system through Application Programing Interfaces (APIs)? Take for instance the case of the N11b breach involving a major Nigerian Bank and a Fintech company, E-Transact.

According to a report by TechNext.com, this came to light following a petition that the company developed a solution which helped Smart micro Systems to defraud the bank. Have we thoroughly investigated and comprehensively documented the nature of the beach and the vulnerabilities exploited? The demography and architype of the perpetrators? Any possible internal collaboration or any systems bugs? Answers to these question to the right quarters is invaluable in foiling future attacks. While this may not be the only major successful breach, the system is so opaque that you will struggle to find a database of cases to learn from and anticipate future attacks.

The major reasons why organizations generally do not report breaches are fear of litigation or regulatory action and loss of reputation. In tackling cybercrime, we all have to be on the same team!

According to iafrican.com, Nigeria is set to establish a Cyber Security Research Centre (CSRC) to combat cybercrime. This is in a bid to build capacity and co-ordinate incident management and contribute to knowledge generation in cybersecurity. According to reports, Nigeria is already working with Cyber Security Malaysia and the Canadian Cyber Incident Response Centre (CCIRC) on establishing the CSRC.

While these are useful initiatives, there is a need for organizations to come together to collaborate on researching past breaches and documenting them and comprehensively reporting current breaches to learn from them in order to prevent future attacks. Private organizations such as the Risk Management Association of Nigeria (RIMAN) and the Bank Directors Association of Nigeria (BDAN) could be hardened and work closely with Government Agencies such as the National Information Technology Development Agency (NITDA) on existing and new initiatives towards combating Cybercrime.

Cybercrime and cybersecurity are real, but they are not rocket science and they are certainly no scarier than COVOD or EBOLA. If we could contain Ebola, Aids and 419 through collaboration, then surely, we can also contain cybercrime through Collaboration too; but we must be willing to take the painful steps that are necessary to safeguard ourselves and our organizations. Only then can we build the requisite trust in the system to continue to enjoy the fruits of digital transformation.

>>>the writer is the Founder of CWG Plc, the largest ICT Company on the Nigerian Stock Exchange & Entrepreneur in Residence at CBS, New York. Austin also serves on the Advisory Board of the Global Business School Network, and on the World Economic Forum Global Agenda Council on Innovation and Intrapreneurship. Austin now runs the Ausso Leadership Academy focused on Business and Entrepreneurial Mentorship.

Freighters petition gov’t over extra charges

September 2, 2020

The Ghana Institute of Freight Forwarders (GIFF) has raised concerns that its members and the trading community are being charged extra fees due to avoidable delays in the clearance of goods at the ports.

GIFF has therefore written to the government through the office of Senior Minister, Mr. Yaw Osafo-Maafo, asking for an intervention – and suggested that the acceptable grace period for clearing imports should be extended. They argue that government must waive some delays-related fees and charges at the ports.

GIFF, in a letter signed by its National President Mr. Edward Akron and addressed to the government, mentioned charges including state warehouse rent charges, GPHA terminal rent charges, demurrage to the shipping lines, terminal rent charges, ground-handlers, storage charges at the airport, truck demurrage at land frontiers and other charges.

The letter addressed to Senior Minister Yaw-Osafo Maafo noted that: “The above fees are chargeable only after one has breached an allowable grace period; our appeal is therefore based on the fact that the new normal of ICUMS and the drag it has introduced makes it the rule now for clearance to go way beyond allowable grace periods”.

The letter further noted: “To this end, we the members of the Ghana Institute of Freight Forwarders – having had extensive engagement with the importing and trading community, have resolved to appeal first to your good self to cause to be suspended State Warehouse Rent Charges, cause to be suspended Interest Charges; and empanel a committee under the remit of the Ghana Shippers Authority to review downward all the other fees or review upward the allowable grace periods, taking into consideration all other interests”.

The GIFF president, in his letter, appealed to the Office of the Senior Minister to consider the concerns and suggestions raised as “extremely important and representative of the views of solution seekers on the ground.”

GIFF said it has suffered the sad situation in silence since the deployment of the new system, and it made that unbearable sacrifice because it “did not want to raise the temperature unnecessarily, to allow space for this new system to thrive.”

Excellence rewarded at the 3rd edition of Ghana Insurance Award

September 2, 2020

Insurance Awards 2020 — Photo: The award winners on stage

It was glitz and glamour as the 2020 edition of the Ghana Insurance Awards came off on Saturday, August 29. The night of recognition and reward for excellence saw the crème de la crème of the insurance industry converge at the Kempinski Hotel in Accra.

In his address, Event Director Richard Abbey stressed that the scheme honours the outstanding performance, professionalism and innovation in the Ghanaian insurance industry; and is informed by data while placing a premium on transparency and being subject to rigorous ethical standards.

“What we do [as event organisers] is try to ensure credibility… This is a very professional industry; we cannot sit back and decide to score people without evidence as the basis,” he stated, adding that the event’s successful staging – which had been rescheduled as a result of the ongoing pandemic – was a triumph for the insurance and event-organising industries.

This was echoed by the Executive Director of CIM Ghana, Kwabena Akuamoah Agyekum, who highlighted the awards industry’s importance to the recovery of other industries. Also present on the night was the CEO of Asante Kotoko Football Club, Nana Yaw Amponsah.

For special recognition awards, Beatrice Amponsah – CEO of Cosmopolitan Health Insurance, was presented with the CEO of the Year for Private Health Insurance award; Emmanuel Mokobi Aryee, CEO of Prudential Life Insurance Ghana, was adjudged CEO of the Year, Insurance Category; and Kwame Acheampong-Kyei of Glico Group was honoured with the Lifetime Achievement Award.

The winners include Agent of the Year, Ernest Odame-Fidelity Bank; Unsung Hero Award, Elton Afari-Cosmopolitan Health Insurance, for private health category; Nana Efua Rockson-Glico Group, for insurance category; and Cynthia Agyemang-Darko, Fidelity Bank Ghana – for banking category; Re-Insurance Company of the Year, GN Reinsurance Company Limited; Best Growing Private Health Insurance Company of the Year, Metropolitan Health Insurance Ghana; Best Growing Company of the Year-General Insurance Category, Hollard Insurance; Best Growing Company of the Year-Life Insurance Category, Prudential Life Insurance; and Major Loss Award, Enterprise Insurance Company.

Claims Initiative Award-Insurance Category, Milvik Ghana (BIMA); Emerging Brand of the Year, Prudential Life Insurance Ghana; Fastest Growing Life Company of the Year, Allianz Life Insurance Company Ghana; Indigenous Insurance Company of the Year, SIC Life Company; Customer Care/ Service Award-Insurance Category, Star Assurance; Bancassurance Leader Award, Absa Bank Ghana; Personal Line Insurer of the Year, Starlife Assurance; Product Innovation Award-Insurance Category, Metropolitan life Insurance Ghana Ltd. – The Family Eternity Plus; Commercial Line Insurer of the Year, Hollard Insurance; Mobile Insurance Leadership, Milvik Ghana Ltd. (BIMA); and Marketing Initiative/Campaign of the Year-Insurance Category, Hollard Insurance Ghana.

Promising Company of the Year-Insurance Category, Saham Life Insurance Ghana; ICT Leadership Award-Insurance Category, Enterprise Life Insurance Company; Brand of the Year-Insurance Category, Glico General Insurance; Brand of the Year [Private Health Insurance Category], Acacia Health Insurance; Innovative Product of the Year [Private Health Category], Cosmopolitan Health Insurance; Customer Care/Service Award [Private Health Category], Glico Healthcare; Promising Company of the Year-Private Health Insurance Category, Acacia Health Insurance; ICT Leadership Award [Private Health Category], Nationwide Medical Insurance; Private Health Insurance Company of the Year [Private Health Category], Nationwide Medical Insurance; and CSR Leadership Award-Insurance Category, SIC Life Company.

Young Achiever Award, Cherise Ige [Prudential Life Insurance]; Woman of Excellence, Patience E. Akyianu (Group CEO-Hollard Insurance Ghana Ltd.); General Insurance Company of the Year, Enterprise Insurance Company; and Life Insurance Company of the Year, Enterprise Life Insurance Company.

Access Bank’s perfect start campaign gives children a boost for the future

September 2, 2020

Olumide Olatunji, MD of Access Bank Ghana - reduced — Photo:Olumide Olatunji, MD of Access Bank Ghana. Credit: Access Bank

Access Bank continues to drive its financial inclusion objective through initiatives which redefine banking operations in the country. True to its mantra of more than banking, the bank has unveilled a new promotion targetted at children to improve financial literacy from an early age.

Riding on the back of the bank’s kid’s savings account – Early Savers, the campaign dubbed ‘Perfect Start’ is aimed at fuelling the dreams of young ones while providing a platform to learn, unearth and nurture their creative talents. This constitutes one of Access Bank’s long-term goals of promoting financial inclusion among specific segments of the market, including children under the age of 18.

The ‘Perfect Start’ promo, which is an industry first, will run digitally online as part of efforts to comply with COVID-19 safety protocols while creating opportunities for families to have fun and win amazing prizes.

Introducing the promotion to the general public, Managing Director of Access Bank Mr. Olumide Olatunji mentioned that the bank trusts in helping people achieve their goals and aspirations, even in the face of adversity; and that the outbreak of coronavirus, though painful, has taught us all the very great lesson of saving for a rainy day.

He highlighted: “We believe that no matter how small or audacious a dream might seem, it can still come true. All one needs is encouragement and the right resources to boost their confidence and pursue that dream. This promo is therefore guaranteed to excite everyone and give our future leaders an advantage over the others”.

Emphasising the campaign’s key features, Sector Head of Retail Banking at Access Bank, Mrs. Yvonne Antonio said: “The ‘Perfect Start’ promo is a digital campaign and aimed at inculcating the culture of savings and showcasing the talent of children from the ages of 5 to 17 in a fun, educative and interactive way. The promo is also designed to support parents and/or guardians with funds to help realise the dreams of their children or wards through weekly, monthly and mega-cash rewards.”

The promo will run for a six-month period, having started yesterday – September 1, 2020. The promo is open to both new and existing customers of Access Bank, and to participate customers will need to operate or open an Early Savers Account for their child or ward. With a minimum deposit of GH¢200 in the new or existing Early Savers Account, customers can participate in the promo and qualify to win weekly and monthly rewards. Some of the amazing prizes being given away to over 1,000 customers weekly and monthly include cash rewards of over GH¢100,000 and other prizes such as PS5 tablets, among others.

This promo has no element of chance or lottery, and rewards are purely based on participation in activities and earning points. There are a variety of activities that a child can participate in to enhance their financial literacy skills and showcase their talents, and these include:

Access Got Talent: This is a platform for your child to display his/her talents in a monthly contest to win cash rewards.
Financial Literacy Games: This is a collection of educative and fun games for your child to play while winning some rewards as well.
Quizzy Sundays: This is a quiz challenge available on our USSD code *901# for your child to participate and win cash rewards.
Webinars: This is a virtual educative forum on financial literacy to help your child build a savings culture at an early age.
Friday Jams: This is a virtual party to entertain your child.

Currently operating from 52 business locations across the country, the bank continues to build long-term relationships with its customers based on trust, digital innovations, good customer service and transparency. The bank has over the last ten years developed a deep understanding of its customers, delivering excellent service and empowering them to achieve more through financial education.

Since the pandemic’s outbreak, Access Bank has continuously used various channels in engaging its customers to keep safe and adhere to safety protocols as prescribed by the WHO. The bank has also used other strategies to boost customers’ business viability, including the ‘W Webinar Series’ that tackles various topics of business continuity, redesigning business models for resilience among others; and the Womenpreneur Contest that gives opportunities for women SMEs to win financial grants for their businesses.

National Occupational Safety and Health bill languishes in Cabinet for 31 years

September 2, 2020

National Occupational Safety and Health Bill (2) — Photo: Participants at the second edition of the Health, Environment, Safety and Security Awards, HESS, at Kempinski Hotel, Accra

The National Occupational Safety and Health bill, a comprehensive bill that seeks to promote a safe work environment for all stakeholders, is still languishing at Cabinet-level after more than 30 years.

First introduced to Cabinet in 1989, the bill – according to Fred Ohene Mensah, Chief Inspector in Charge of Factories at the Ministry of Employment and Labour Relations, has appeared twice at the subcommittee level of Cabinet, but is yet to move from Cabinet to lawmakers in Parliament.

“As we speak, we have met Cabinet to approve a new Occupational, Safety and Health bill in the country that would really change the face of health and safety in Ghana. We need corporate Ghana to push the government to make health and safety a security risk. We need laws to be enforced and we need people to advocate and talk about health and safety laws, which are currently fragmented.

“The way forward is that the industry must begin to push and make noise about the National Occupational Safety and Health bill that is presently in cabinet. The bill began its journey in 1989 and is still at the cabinet level. Health and safety is paramount, and we [practitioners, employees and employers] must all work together to get the National Occupational Safety and Health bill passed,” Mr. Mensah said.

He was speaking as a guest of honour at the second edition of the Health, Environment, Safety and Security Awards, HESS, which came off at the Kempinski Hotel, Accra. The event was on the theme ‘Recognising outstanding achievements and celebrating excellence and innovation focused on occupational health, safety, security and environment’.

Mr. Mensah urged all nominees and award-winners to continue pursuing zero-accident work environments since that will make them preferred workplaces for the youth and future workforce of Ghana.

The ceremony saw blue-chip companies and celebrated individuals in industry honoured for their commitment toward the health and safety of employees, workplaces and other stakeholders. On the night, Joshob Construction received the Special Judges Award for Best Corporate Response to COVID-19 for the creation of a daily temperature record system for all employees, to enable early detection of COVID-19-infected people.

For special recognition, Dr. Joseph Siaw Agyepong was honoured with the Industry Leadership Award (Waste Management); Kwaku Ennin was honoured with the HESS Exemplary Leadership Award, and Mukesh V. Thakwani received the Leadership Excellence in the Integration of HESS award.

Other winners on the night included HESS Company of the Year, Goldfields Ghana; Management of Driving Safety (MODS) Excellence Award, Consolidated Shipping Agency; Manufacturing Facility Excellence Award, B5 Plus; HESS CEO of the Year, Macdonald Vasnani; HESS Manager of the Year, Emmanuel Isaac-Aryee; CSR Excellence Award, Goldfields Ghana; and Best Company in HESS Compliance, Reporting & Monitoring, Goldfields Ghana.

Others include Best Company in Fire Safety and Security Management Practices, Blue Ocean Investments; Best Company in Environmental Management Practices, Zeal Environmental Tech; Best Company in Health and Safety Management Practices, Petrosol; Best Company in Employee Safety and Security Management Practices, Puma Energy; Best Community Involvement Hospital/Clinic, St. John’s Hospital & Fertility Centre; Best Company in Health & Safety Campaign, Puma Energy; and Sustainability & Operational Excellence Award, Baj Freight & Logistics.

Best Company in Environmental Protection Campaign, Goldfields Ghana; Most Security and Safety Conscious Company of the Year, Blue Ocean Investments; Safer Logistics Company of the Year, Baj Freight & Logistics; Best Company in on-site Safety Awareness and Communication, Zeal Environmental Tech; HESS Team of the Year, Gold Fields Ghana; Best Company in Customer Safety and Security Management Practices Petrosol; Food Facility Excellence Award, Transatlantic Catering Services; Most Environmentally Friendly Waste Management Company, Zoomlion; and Food Safety Company of the Year (Catering Services), Extrail Support Services.

The rest include Food Safety Company of the Year (Hospitality) – Kempinski Hotel; Service Station Facility Excellence Award – Petrosol; Construction Safety Company of the Year – Joshob Construction; Healthcare Facility Excellence Award – Lapaz Community Hospital; Best Company in Product Safety & Quality Management Practices – B5 Plus; Waste Management Innovation Award – Zoomlion; Best Company in Process Safety & Quality Management Practices -Transatlantic Catering Services; Waste Management & Recycling Facility Excellence Award – Zoomlion; Best Public Health Awareness Education Initiative Award – Zoomlion.

GACL, GCAA, Port Health to benefit from US$150 airport COVID-19 test cost

September 2, 2020

Photo: Deputy Minister of Health, Dr. Bernard Okoe Boye

But players push for a reduction
Expert says cost too high
Virologist worry about quality of test

The three major stakeholders in the aviation sector – Ghana Airport Company Limited (GACL), Ghana Civil Aviation Authority (GCAA), and Port Health Unit of the Ghana Health Service – will be receiving portions of the recently introduced US$150 COVID-19 test per passenger upon arrival at Kotoka International Airport (KIA).

Even as aviation industry experts and other players such as airlines worry about the exorbitant price passengers will pay for the Rapid Diagnostic Test (RDT) and would rather see a reduction, Deputy Health Minister Dr. Bernard Okoe Boye, in justifying the cost, added that an arrangement is being made to give to these stakeholders to cater for their investments and help to manage operations of the state-of-the-art laboratory in the airport to attend all arriving passengers.

Speaking at the Information Ministry’s regular COVID-19 press briefing, Dr. Okoe-Boye said: “We looked at what is being charged across the globe before arriving at a decision”.

In Zimbabwe, he explained, passengers pay about US$210 – whiles in China they pay about US$150 and even have to wait for about six hours before they get results. In neighbouring Togo and Benin passengers pay about €210 each; while in Nigeria, after paying US$130 for a test, passengers must go to a hotel and wait for results – and that could be one or two nights. “If you are paying US$100 a night, it means you are spending close to US$300 to ensure you are safe or free of the virus,” he said.

While passengers and airlines assumed this amount would be factored into ticketing for simplicity, the B&FT has gathered that passengers will have to pay for the test separately from their ticket charges as it cannot be factored due to an international agreement with the International Air Transport Association (IATA), which calls for some stringent transparency and accounting procedures.

“As a government, we are interested in you coming but we don’t want you to come in with the virus; and by the way, nothing is more expensive than getting the virus because it can lead to critical illness – and lead to death as well. It is important to note that the cost will be borne by the passenger, not the state or the taxpayer,” Dr. Okoe Boye said.

Worry about the quality of test

Despite the test’s high cost, a virologist at the Noguchi Memorial Institute for Medical Research, Dr. Kofi Bonney, noted that the quality of the antigen RDT is not the gold standard to mitigate the importation of COVID-19 cases, as research has shown that it is not fool-proof.

He described as unscientific the decision of the government to conduct an antigen RDT after passengers present a negative Polymerase Chain Reaction (PCR) test conducted in the last 72 hours. “Scientifically, I would say the Polymerase Chain Reaction (PCR) test within 72 hours is enough. I don’t know why we have to do an antigen test, which is less sensitive, upon arrival.

“If you look at the tests that have been done over the years, we have a varying sensitivity percentage between 30 to around 80 percent; if you are looking at these figures, it means for about half of the people who take the antigen test the result may not be correct; in other words, you cannot tell if the person is positive or not.

“Apart from this, we have something we call a false positive result that comes with these antigen tests or RTD tests. Because we have other coronavirus apart from COVID-19, these antigens will pick up the antigens that have been put on that plate and it will come as if it is COVID-19 – but it is not, it is other human coronavirus; so we call them false positives. When you are dealing with these antigen tests, these are some of the disadvantages you come up with,” he said.

Also, he noted that an antigen RDT test costs between US$10-20 with US$80- 100 for a PCR test. The Egyptian Aviation Ministry also noted that it conducts a US$30 PCR analysis for all passengers upon their arrival. These data confirm the worries of airlines and other industry experts who note that Ghana’s cost is too high and should not be more than US$100, even when one considers the quality of installation at the airport.

A set-up of 70 sample collection booths has been built at the upper-level of the arrival hall alongside a state-of-the-art laboratory in the airport to attend to all the arriving passengers. The test results will be electronically transferred to port health stations in the main arrival hall to determine who is fit to enter and who needs some medical attention. The government says all the measures which have been put in place are to ensure a good balance between cost and mitigation of COVID-19 risk.

Dagbon peace will bring investors into Northern Region – Siaw-Agyepong

September 2, 2020

The king and overlord of Dagbon, Ya-Na Abukari II, has been praised for bringing peace to the Dagbon kingdom – and by extension the entire Northern Region.

The Executive Chairman of Jospong Group of Companies (JGC), Dr. Joseph Siaw-Agyepong, made the commendation when he led a high-powered delegation accompanied by the Northern Regional Minister, Mr. Salifu-Sa-eed, to pay homage to the Overlord of Dagbon, Ya-Na Abukari II, at his Gbewaa Palace in Yendi of the Northern Region.

He said the current peace in Dagbon, and for that matter the whole of the Northern Region, will help woo investors into the region to bring about development.

“I want to use this opportunity to congratulate you, first, for your ascension to the skin; and second, for your strenuous efforts in bringing peace to the Dagbon kingdom – a place where investors some years back felt jittery to invest. But through your ascension to the skin, you have brought peace and development to Dagbon,” Mr. Siaw-Agyepong stated.

Pledge
Mr. Siaw-Agyepong, who is also Chief Executive Officer (CEO) of Zoomlion Ghana Limited, promised to support Ya-Na Abukari II in any development initiative that he embarks on for the people of Dagbon.

He again commended the Overlord of Dagbon for appointing the Sulta Na as Chief of Sanitation, stating that this is a good initiative “Which my company [Zoomlion] will support to make sure Dagbon and the whole of the Northern Region is always free of filth”.

Opportunity
He also used the opportunity to inform Ya-Na Abukari II of his company’s plans to build solid and liquid waste treatment facilities in the Northern Region, as part of efforts to improve sanitation in the region.

He revealed that funds and equipment have been secured which will see the two projects commence soon. He said the two projects when completed will create 125 direct and over 500 indirect jobs respectively.

According to him, Zoomlion which today has gained international fame started its humble beginning in the Northern Region – using tricycles to collect and dispose of solid waste.

“From a humble beginning, today Zoomlion is in Togo, Liberia and Sierra Leone; and has offices in China, Dubai and India,” he said.

Peace
While acknowledging Dr. Siaw-Agyepong for his pivotal role in development of the country, Ya-Na Abukari II made a passionate call for peace – especially since in a few months’ time the country will be going to the polls.

“Finally, as December 7th is just around the corner, my humble and hopefully persuasive call for peace is in recognition of the tumultuous period of our electioneering campaigns and the palpable tension they arouse. Dagbon has had its past experiences where rivalries and politicking are concerned,” he said.

Against this backdrop, Ya-Na Abukari II stressed the need for Ghanaians to demonstrate restraint and tolerance toward dissenting opinions.

He gave assurances that he will continue to champion peace in Dagbon, and therefore called on the media to also help in promoting peace across the country.

Frenzy
Earlier, on arrival of the Zoomlion delegation, the Gbewaa Palace was thrown into frenzy as Ya-Na Abukari II was ushered into the palace amid drumming and dancing to the tune of various traditional songs.

Donation
Later, Dr. Siaw-Agyepong presented 50 bags of rice, 10 gallons of cooking oil, 100 dustbins, Zoomlion-branded T-shirts and executive diaries to the Overlord of Dagbon in support of this year’s Fire Festival celebration. He also gave an amount of GH¢10,000 to Ya-Na Abukari II and his family and elders of Gbewaa Palace.

Three years of waiting for justice

September 2, 2020

Governor of Bank of Ghana, Dr. Ernest Addison.

Taxpayers want action
Depositors want their money

On August 14, 2017, Ghanaians woke up to the shocking news that two local financial institutions, UT and Capital Banks, had their licences revoked by the regulator, Bank of Ghana, as their financial statements showed the banks were living dead (insolvent).

Then a year later, in August 2018, seven other banks – Unibank, Beige Bank, The Royal Bank, Construction Bank and Sovereign Bank— were also declared insolvent and had their licences revoked. Again, the regulator cracked the whip on Heritage Bank and Premium Bank in January 2019 – with the former said to have obtained its licence through fraudulent means, and the latter also declared insolvent. All these banks’ assets, with the exception of UT and Capital Banks which were taken over by GCB Bank, have been transferred to the Consolidated Bank Ghana Ltd.

The show didn’t end there, as in May 2019 the Bank of Ghana further revoked the licences of 347 microfinance companies which were declared insolvent. Then in August of the same year, 23 Savings and Loans companies also had their licences revoked. These actions, according to Finance Minister Ken Ofori-Atta, have cost government GH¢13.6billion; which represents 3.5 percent of GDP.

Besides this, a further GH¢5billion has also been spent on the president’s directives to fully pay all depositors whose funds were locked up with the failed SDIs and MFIs. Also, an additional GH¢3.1billion has also been spent on supporting investors in failed asset management companies regulated by the Securities and Exchange Commission (SEC). These all total GH¢21.6billion, representing 5.6 percent of GDP, spent so far on paying depositors and restructuring the financial sector.

But the troubling issue here is that three years after the first two banks had their licences revoked, and after spending such a colossal amount of taxpayers’ money on the financial sector, only GH¢2billion has been retrieved so far. That amount represents less than 10 percent of the damage, yet many depositors still have their monies locked up in these banks. All they are told is that the receiver is still in the process of verifying their transactions and that they will receive their monies soon – the soon that never comes.

When the licences of those financial institutions were revoked, the regulator sent out a strong message that all directors and owners of financial institutions who are found complicit in the build-up to their institution’s collapse will be handed over to the law, with the main primary purpose of holding them accountable and retrieving funds spent on the exercise.

“Any persons found to have contributed to the failure of these institutions will be declared not fit and proper to engage in a business regulated by the Bank and reported to the law enforcement agencies for criminal action and further action including possible prosecution where applicable. In addition, the Receiver will institute civil actions against relevant persons to claim damages and restitution where applicable,” a statement from the Bank of Ghana said in August 2019.

Granted, some actions have been taken in this regard. First of all, the cases have been referred to the courts to try and hold these directors, shareholders and owners accountable. Secondly, auction sales have been organised by the receiver to sell vehicles belonging to these collapsed institutions to make up some of the cost incurred. But progress has been slow. For just GH¢2billion to be recovered as of now, and knowing the legal framework in Ghana where cases can drag on for decades, it sends a worrying signal that taxpayers’ money has gone down the drain with little or no hope of getting it back.

When the central bank Governor, Dr. Ernest Addison – the man who oversaw the execution of the financial institutions’ revocation of licence – was asked in a press conference last month his opinion on the delay in retrieving the monies and holding the ones complicit responsible, he acknowledged that the process has been slow…but was upbeat justice will be delivered in the course of time.

“As we know, the receivers are in court with the shareholders and directors trying to retrieve assets of the defunct institutions, and it takes time. The wheels of justice in this part of the world grind slowly, so the process of recovery for these assets is more complicated and it takes time; but we are confident that we will get there,” he said during a press conference in Accra.

From the legal point of view

For the taxpayer and depositors of these defunct financial institutions, what matters most to them is for the courts to rule on the matter quickly, and for those responsible to be held accountable for the monies to be retrieved. But the process, according to legal practitioner and law lecturer at the University of Professional Studies Accra (UPSA), Gertrude Amorkor Amarh, is not as simple as it appears – sometimes due to factors inherent in the litigation process which cause delays.

She said in an interview with the B&FT that delays in determination of matters before a court can be caused by both processes of the courts as well as conduct of parties to the case.

“In our judicial system, there are rules and procedures which guide the conduct of all civil litigation and criminal prosecutions. These rules are made up of various processes that must be followed by disputing parties and accompanying time-limits within which various steps must be taken. These are to ensure that disputing parties are given the opportunity to present their respective cases before a court of law or other similar adjudicating fora for determination. The starting point in discussions such as these, therefore, is a recognition that the processes involved in litigation can naturally cause some delays.

“Having laid that foundation, we also need to acknowledge that there can be other factors attributable to the court itself or lawyers and disputing parties which can lead to delays in the process. Some of these factors are frequent requests for adjournments, failure to comply with orders given by a court, lack of cooperation among parties, among others. Sometimes, the court itself may not even be sitting for one reason or another, and all these can cause delays in the quest for expeditious adjudication,” she said.

To reduce the delays, she adds, provision should be made for certain cases to be categorised as priority, considering the national interest and number of people affected. That way, such cases would be given more attention and resolved quickly.

“We need to acknowledge the need to have speedy resolution of cases. One way to do this is by giving priority to certain cases for speedy resolution. For instance, looking at the sheer number of people affected by certain cases, such cases can be considered a priority – for which reason immediate attention must be given to them. If you consider the large number of depositors affected by the banking crisis, it stands to reason that we can prioritise those cases and stay committed to resolving them expeditiously. Already, the majority of our courts recognise this and make a conscious effort to resolve disputes speedily; but this requires the cooperation of all others involved in the matter,” she said.

The lawyer’s position emphasises the need for reforms in the country’s legal system to ensure timely and swift delivery of justice.

Time is running; Ghanaians are running out of patience; the taxpayer wants justice delivered, and depositors want to be paid. Three years is long overdue to see some justice or at least feel its air blowing.

COVID-19: Kumasi South Regional Hospital gears up as KIA opens

September 2, 2020

Photo: Michael Kummerer, Chief of Security Cooperation at the US Embassy Ghana, handing over the supplies to the Medical Director of the Kumasi South Hospital, Dr. Kwame Ofori Boadu. Credit: Kizito Cudjoe

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Receives medical supplies from US gov’t

The Kumasi South Regional Hospital has said it is stepping up its alertness to face any possibility of COVID-19 cases, in the Ashanti Region, as the Kotoka International Airport (KIA) opens up for business.

The Hospital, according to the Clinical Care Coordinator, Dr. Angela Durowaa Frempong, currently do not have any COVID-19 patient under their care, at their center. It was the first medical facility in the country to deliver a baby safely from a COVID-19 positive pregnant mother, who was admitted at the facility.

It was against this backdrop, that she expressed gratitude to the U.S. government for the donation of critical medical supplies and personal protective equipment (PPE) to the facility, in Kumasi, towards the fight against COVID-19.

The United States Africa Command (USAFRICOM) provided the funding to purchase the supplies worth over GH₵430,000, which include 10,000 N95 face masks, 1,600 hospital gowns and 2,000 liters of methylated. It also included 3,000 liters of sodium hypochlorite, glucometer strips, and 14 pulse oximeters.

The Effia Nkwanta Regional Hospital, in the Western Region, was also one of the medical facilities that benefitted from the donation.

The US Ambassador, Stephanie S. Sullivan said: “The United States is leading the world in providing critical international assistance as, together, we battle this global pandemic. And Ghana Armed Forces (GAF) continues to play a leading role, along with the Ministry of Health, in responding to the pandemic here in Ghana. The U.S. Embassy and AFRICOM are proud to partner with the GAF in this and many other endeavors.”

USAFRICOM has previously supported 37 Military Hospital with a similar donation of medical supplies and notably provided two state-of-the-art Level II Field Hospitals to the GAF. One of the facilities has since been deployed in Accra, and it is now the second-largest COVID-19 treatment center in the country.

Editorial 2: Let’s guard against creeping monetisation of politics

September 1, 2020

As Ghana prepares to undertake its eighth Presidential and Parliamentary elections on December 7 in this Fourth Republic, monetisation of politics has begun to rear its ugly head.

Executive Director of the Centre for Democratic Development-Ghana (CDD-Ghana), Professor H. Kwasi Prempeh observes that: “Money in politics has an even greater danger in encouraging or facilitating state capture, which is a different degree of corruption wherein the institutions of the state, the laws and policies that we must make in the public interest are made not to serve the public interest, but to give clearance for money interests that are behind the campaign”.

Speaking at a public dialogue on ‘Campaign Finance Reforms in Ghana’ last week, Professor Prempeh explained that nowadays people who take up appointive positions use them as stepping stones to amass wealth to go and contest party primaries – a trend that he said has now become a norm and is disturbing.

He noted that the current status quo holds serious national security and development implications if not addressed immediately.

For instance, State-owned enterprises (SOEs), particularly those with internally generated funds, remain largely ineffective because they are manned by politicians seeking their own interest and not that of the state.

Professor Prempeh opines that political parties should be regulated and their accounts audited as a way of determining their sources of funding. As the law stands today, only citizens can contribute or sponsor political parties.

However, the CDD Executive Director sees loopholes in this law since, in our system, it is nearly impossible to trace money flow. It is difficult to identify party contributors, and this exposes the state to several dangers, he notes.

“Unregulated money in politics provides a conduit for crime to enter public office. Illicit money finds a way to get laundered”.

There is little doubt that the monetisation of politics in the country discourages people with the right ideas but without money from entering the political space. And even when people with ideas make it to the top of the political ladder, the nature of party politics makes them ineffective since they become indebted and loyal to their sponsors and financiers.

We must guard against this creeping phenomenon in our body-politic and ensure that the undue monetization of our political space does not turn around and haunt us in the future to the country’s detriment.

AAAM, Deloitte present the first Africa Automotive Forum

September 1, 2020

AAAA — Photo: Dave Coffey (left) and Martyn Davies (right).

The opportunities are there – with a young, growing population and rapid urbanisation across the continent. But how can this potential be unlocked? What obstacles does the continent face in growing vehicle demand and becoming a true industry competitor? And how can regions unite to write the legislation that could see hundreds of thousands of jobs created?

These are just some of the questions that will be the focus of the upcoming virtual conference series, the African Association of Automotive Manufacturers (AAAM) Africa Automotive Forum. The event themed: The Africa Automotive Forum: Jumpstarting the industry through insight, dialogue and debate, which will be held on September 2, September 16, and September 30, 2020, in South Africa.

Expert stakeholders from across the world will tie in virtually and provide insight at panel discussions that seek to unpack how Africa can jumpstart its automotive industry.

Minister of Trade and Industry, Alan Kyerematen, Ghana will give a keynote address and Mike Whitfield, AAAM President, Chairman of Nissan Group of Africa and Managing Director of Nissan Egypt will lead a discussion on enabling government policy with automotive industry practitioners including, Masa Sugano, Deputy Executive Director, Africa Region of Japan External Trade Organization (JETRO), Mike Mabasa, Chief Executive Officer of National Association of Automobile Manufacturers of South Africa (NAAMSA), and Anthony Black, Professor in the School of Economics at the University of Cape Town.

Among other speakers, AAAM members including Renai Moothilal, Executive Director of National Association of Automotive Component and Allied Manufacturers (NAACAM) and Dr. Markus Thill, President Region Africa of BOSCH Group, together with Thomas Schaefer, former AAAM President and Chief Executive Officer of ŠKODA Auto, will discuss unlocking the economic benefits of regional value chains.

Further, AAAM members including Simphiwe Nghona, Group Head for Vehicle and Asset Finance (VAF) of Standard Bank, Yves Nono, Vice President – Mobility Solutions Sales of BOSCH, Gerhard Botha, General Manager of Toyota South Africa Motors, together with Ridwan Olalere, Country Director for Uber, Nigeria will discuss driving affordability and mobility solutions in Africa. Serge Kamuhinda, Director at Volkswagen Rwanda will share a case study on the Volkswagen Business Case in Rwanda.

“The opportunities for growth are there, but there are still challenges across Africa. This conference is about unpacking those issues, finding solutions, and lighting the way to ensure our shared vision for the continent is achieved,” said Dr Martyn Davies, Managing Director of Emerging Markets and Africa at Deloitte, who will also be facilitating the sessions. Dialogue throughout the conference will be split between three major themes:

Regional Value Chains

The plethora of fragmented, small automotive production facilities rather than a singular force across the continent appears to be the result of ineffective automotive policies, with only Morocco and South Africa standing out as having fully-fledged industries.

“However, even these two countries are heavily reliant on the export of high-volume models to non-African markets, though the long-term sustainability of this is questionable,” said Dave Coffey, CEO of AAAM.

One of the solutions to this is the development of a pan-African automotive sector with the establishment of assembly nodes/hubs in the South, West, East and North of Africa and a spread of value-adding activity (e.g. component manufacture) to neighbouring economies based on their resources or comparative industrial advantages. Partnerships between countries have been key to the development of auto industries across the world; this facilitates scale which is necessary for this globally competitive industry.

“Not every African country is able to grow and industrialise a fully-fledged automotive industry sector. So, beyond these hubs, we need to build a hub and spoke model, where a hub such as Kenya, for example, can be supported by a supply spoke in a neighbouring country,” said Davies.

Enabling policy through government

A lack of a political will can be the death knell for any industry, which is why Coffey believes that it’s time for the automotive sector across the continent to push for legislative change, much like what has recently been seen in Ghana. The Ghana Automotive Development Policy, through its Ministry of Trade and Industry, has already laid the way for the country to become a fully integrated and competitive industrial hub in West Africa. However, other countries are failing to realise the potential benefits, and are focusing more on the imported, used vehicle industry.

“The political will to support the significant medium-term economic and good job creation benefits of the effective auto industry is often overshadowed by the short-term gains of customs revenue for imported used vehicles – when duty is actually paid,” said Coffey. To create a cross-continental industry, getting governments on board to support legislation that elicits investor confidence is paramount. “The pending African Continental Free Trade Agreement could hold much promise for deeper value chain creation for the automotive value chain creation going forward,” said Davies.

Driving Affordability

Creating vehicle demand is about affordability because for many Africans consumers, the high cost of new vehicles is the main obstacle to ownership. Poor infrastructure and high logistics costs do not support a competitive value chain, but this can be changed with enough political will.

“This could include effective policies for financial institutions that support affordable asset-based vehicle financing and alternate mobility solutions that stimulate demand. Prices are also inflated by bad infrastructure and taxation, so the first step is to reduce this dramatically – as we have seen in Ghana.

The importation of pre-owned, dumped and unroadworthy vehicles, needs to be controlled through legislation that protects the consumer and the local economy,” said Davies.

Interest rates on new vehicles also remain an obstacle for prospective buyers. “In Africa, you generally have interest rates above 20 percent, and that’s not affordable. It is important that we explore solutions with governments. The question is, how can we work with financial institutions and the value chain to offer interest rates of 10% or less? That is fundamental to driving affordability,” said Coffey.

“We hope that the African Automotive Forum can be a platform that allows us to find solutions to these burning questions, by bringing together some of the industry’s greatest minds and using their lessons and applying it to the African context. This conference, in partnership with AAAM, is yet another strategic initiative to promote the automotive industry and automotive industrialisation in Africa” he said.

NIB secures GH¢800m capital injection

September 1, 2020

NIB transformation strategy on course — Photo: Managing Director, Samuel Sarpong. Credit: Africa Business Communities

Liquidity position improves
Reforms introduced to change the bank’s culture

The National Investment Bank (NIB) has secured some GH¢800million capital injection from the government to boost its capital position, improve liquidity and position the bank on a path to profitability, a situation last experienced almost a decade ago.

Alongside this capital injection, the bank has introduced some reforms in terms of policy guidelines for the board, management and staff, in addition to structures for risk appetite, liquidity management implemented to move the bank onto a sustainable path of growth and profitability which has seen the morale of staff lifted significantly.

Samuel Sarpong, Managing Director of the bank, in an interview, noted that the capital, which came in the form of a 10-year bond is being worked on to be converted into equity to shore up the bank and allow it to compete without challenges in an ever-growing market.

“We had a capital injection of GH¢800million which has gone into strengthening the balance sheet and would have an impact in terms of the earning assets of the bank as well as greater flexibility in terms of liquidity. This is a good step in the right direction,” he told the B&FT, explaining that with a few minority shareholders, the capital must go through a process to enable the government to convert its bonds into equity.

NIB’s impact on the economy cannot be overstated but the last decade has not been a good one for the lender. Despite the welcome news of capital injection, the bank’s position is still perilous, though the new management and board are making efforts to redirect the bank to its better times.

Finance Minister, Ken Ofori-Atta, last year told lawmakers that the bank needs about GH¢2.2billion to become liquid, clean up its books and meet the Central Bank’s stated capital requirement of GH¢400million. This, according to the Finance Minister, is despite government entering a swap agreement with the bank that has seen the provision of GH¢500million in fresh liquidity in exchange for the bank’s shares in Nestle Ghana, the local unit of the largest food company in the world.

The bank was part of the five banks to be rescued by the Ghana Amalgamated Trust (GAT) but was sidelined due to the toxic nature of its books, and significant liquidity challenges. With GAT injecting some GH¢800million from government coffers into the four banks, NIB has been on the government’s mind and the injection of this GH¢800million, according to Mr. Sarpong, is more than welcome news.

“This has come to strengthen our balance sheet and help with our recapitalisation efforts. I would like to assure our customers and Ghanaians that NIB is on track and the new board and management have understood the issues and we are putting in place solutions to stabilise the bank, managing the balance sheet, cutting costs, enhances recoveries and putting in controls,” he said.

These moves, so far, have allowed the bank to meet the needs of customers without hustle and Ghanaians, he noted, should be proud to associate with the bank which is known for industrial development. He added that leadership has developed a strategic plan to move the bank into the state of specialised bank with a focus on industrial development.

Recoveries

The bank’s challenges were due to locked-up funds in collapsed lenders but Mr. Sarpong explained that NIB has started the recovery of these funds from banks, savings and loans and finance houses but waiting on the ones that are locked up with fund management companies under the regulation of the Securities and Exchange Commission (SEC). “So far we have recovered some GH¢300million,” he said.

The issues

The bank, he noted, before the arrival of the current management was poorly managed from a technical and corporate governance perspective. Working with the new board of directors, Mr. Sarpong said, they analysed what went wrong and have come to understand exactly what the situation is and the plan to turnaround the bank is on course.

“There was a bit of lapses in terms of management actions and decisions made, for example, we had a number of placements with Non-Bank Financial Institutions (NBFIs) without board approval. A bank would have controls such as limits in place with which management can work with and when such limits are breached, the board approval is needed.

Management of the balance sheet requires a bit of technical competence and what we see in terms of services through a branch network and other channels via the internet are outward aspects. You have to have controls on what people can do and what cannot do and there were weaknesses.

The balance sheet was not properly managed, for example, NIB was paying high-interest rates on deposits compared to its competitors and assets and liability management were missing. For a bank, you have to have diversification of loan book but that was not the case because we had over-concentration in one sector of the economy. These challenges, over time, led to losses and once you make losses, your capital is eroded and that is what happened in this instance.”

Gov’t disinfects KIA

September 1, 2020

PHOTO-2020-08-31-12-34-42_2 — Photo: Parts of the KIA being disinfected.

Readies to open today
International trade revenues expected to go up

In line with President Nana Addo Dankwa Akufo-Addo’s announcement for the reopening of Kotoka International Airport (KIA) to international traffic on September 1, the Aviation Ministry, in partnership with Zoomlion Ghana Limited (ZGL), has disinfected the KIA and its open spaces.

The exercise, which came off Monday (August 31, 2020), was to pave way, once again, for KIA to resume operations.

It was among government measures to halt the further spread of the coronavirus pandemic, especially in the light of the fact that the country’s first cases were imported.

Speaking to journalists, General Manager, Vector Control at ZGL, Rev Ebenezer Kwame Addae, explained that the exercise, which was the second time that KIA was being disinfected, was meant to kill all viruses hiding anywhere at the airport environment.

He said while the first disinfection was targeted at curbing the spread of the virus, the second was aimed at destroying every virus hiding around the airport environment.

Besides these two exercises, he said regular disinfections would be carried out in three phases at the KIA.

He revealed that this would be done by KIA designated staff members at scheduled periods in the morning, afternoon and evening.

“The morning disinfection will cover the terminals, arrival halls, while the evening exercise takes care of all other departments at the airport including the airport clinic,” The GM of Vector Control, ZGL, said.

Rev Addae assured the general public of their safety adding that with the strict observance of the COVID-19 safety protocols, the airport will be safer for the general public.”

The Minister of Aviation, Mr Joseph Kofi Adda, said the government had put in place adequate safety measures at the KIA to protect passengers and staff members from the malignant virus.

These measures, he mentioned, included the installation of COVID-19 testing facilities.
He, therefore, commended Zoomlion for its quick response to disinfect and fumigate KIA and its environs.

Earlier, a deputy Minister of Health, Dr. Bernard Okoe Boye, addressing a news conference at the KIA reaffirmed that the country has put adequate measures in please to be able to detect possible COVID-19 cases at the airport.

He went on to stress that the measures would will help prevent any infected person from slipping through the radar

Receiver, EOCO pursue GH¢252m ‘untraceable’ depositor claims

September 1, 2020

The Receiver has said it is working closely with the Economic and Organised Crime Office (EOCO) to locate and retrieve company records or books on some 35 resolved entities in order to validate depositors’ claims estimated to be GH¢252 million.

The validation will also enable the Receiver to pay the claims made on these 35 resolved companies, under the Depositor Payment Scheme.

These companies are among the 157 non-operational companies, with some documented to have ceased operations, prior to the withdrawal of their licenses by the Bank of Ghana (BoG), according to a statement issued and signed by the Receiver, Eric Nana Nipah.

Two of the resolved entities, which have no records with the Receiver, with huge depositor claims include Noble Dream Microfinance Limited and Man Capital Microfinance Company with combined claims of 9,815 worth GH¢189.4 million.

While Noble Dream Microfinance Limited closed down in March 2014, has a total of 9,427 claims worth GH¢122.2 million made on the company, Man Capital Microfinance Company, closed down in April 2017, also has claims of 388 worth GH¢67.2 million.

Mr. Nipah said a major challenge faced with some of the non-operational companies has been in the area of securing the books and records of these companies both manual and electronic.

He disclosed that “at the commencement of the resolution process, there were 157 non-operational companies whose books and records we were not able to locate and secure,” out of a total of 370 entities.

However, based on the collaborative arrangement with EOCO which includes assets tracing and investigations, some books and records have been obtained from 131 resolved entities, which were not operational at the commencement of the resolution of these companies.

He acknowledged that this made “it possible for us to be able to validate creditor claims on these institutions.”

It would be recalled that, pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) (the Act), Bank of Ghana (BoG) on May 31, 2019, and August 16, 2019, revoked the operating licenses of 347 Microfinance Companies and 23 Savings and Loans and Finance House Companies respectively,

In accordance with Section 123(2) of the Act appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers Ghana Limited (PwC) as the Receiver for the purposes of winding down the affairs of these companies.

The Receiver, under Section 127(3) of Act 930 is mandated to maximise asset realisations for the benefit of Creditors including Depositors, as well as settle the obligations of the company to its body of creditors to the extent possible.

International trade revenues to go up after airport opens for business

September 1, 2020

Coronavirus restrictions lifted — Photo: Passengers going through traveling formalities at the Kotoka Airport. Credit: Tell Ghana News

International trade, which has been badly hit by the pandemic is set to recover after President Nana Akufo-Addo announced the lifting of restrictions on air travel, making it possible for international flights to resume business fully on today, Tuesday September 1, 2020.

The First Quarter Bulletin report shows taxes generated from international trade recorded GH¢829.7 million, lower than the budget target of GH¢1.2 billion, with total import duty falling 34 percent below target and recording a year on year decline in growth of 42.5 percent – all due to the closure of the country’s borders.

Hence, with the reopening of the air borders, after installation of COVID-19 testing facilities and simulation exercises carried out at the Kotoka International Airport proved successful, airlines can resume business in Ghana and passengers can go on with their travel plans, thereby, resuming international trade.

Director of the Institute of Statistical, Social and Economic Research at the University of Ghana, Professor Peter Quartey says government’s move to open the airport, is a good one as it will boost local businesses and domestic revenue generation that is so needed, thereby, aiding the economy to recover quickly from the ruins of the coronavirus pandemic.

“The airport plays a very vital role in our economy. It links us to the external world. Businesses can thrive if we have our airports open, whereby, people move from one point to the other. Some will also come in to undertake business activities such as meetings, conferences, etc and these bring revenue to local businesses and government.

Customs at the airport collect revenue on behalf of the government; immigration service also collects revenue for the government, and so opening it is very critical to economic recovery,” he said in an interview with the B&FT.

“Our airports cannot be closed forever because the facility has to even be maintained, and the loan we took to finance terminal 3 must be repaid. We just have to ensure that all the safety protocols are observed so that we do not also expose ourselves to unnecessary risk. All that we must ensure is that we implement the protocols as have been outlined,” he added.

Even though the air border is open for business, the President further emphasised that land borders remain closed till the government is convinced it has the necessary facilities in place to avoid or limit the importation of the virus into the country. This, Prof. Quartey says is necessary as the process of opening up all borders of the country must be implemented gradually.

“It should be a gradual process. If the land borders are to open, we need to have testing equipment to ensure that we are safe. There are lots of cross border movements across the land borders so if we are not careful, we will import many cases. I believe we can learn from the experience from the opening of the airport to open the land borders. So it is good we start with the airport first, then we use the experience to iron out any rough edges in the opening of the land borders,” he said.

Safety protocols in place at the airport

The airport authority has put the following measures in place to avoid the importation of the virus into the country.

Any passenger arriving in Ghana must be in possession of a negative COVID-19 PCR test result from an accredited laboratory in the country of origin. The test should have been done not more than seventy-two (72) hours before the scheduled departure from the country of origin. All airlines have been instructed to ensure compliance with this directive for all passengers wishing to travel to Ghana, and those airlines who fail in this regard will be duly sanctioned.
Disembarking passengers must always wear face masks.
Upon disembarking from the aeroplane, each passenger will undergo a mandatory COVID-19 test at the airport terminal, at a fee to be borne by the passenger. The test result will be available within thirty (30) minutes.
Passengers, who test positive for COVID-19, will be handled by the health authorities for further clinical assessment and management.

Ecobank Group announces 2020 Winners of Fintech Challenge

September 1, 2020

Ecobank Group has announced the winners of its Ecobank Fintech Challenge after an exciting virtual event streamed live from Accra Ghana.

Nokwary Technologies, edged out the rest of the finalists to emerge winner of the competition. The first and second runner up spots were taken by Ukheshe Payment and Solutions Growth Factor Technologies respectively. The 1^st to 3^rd place winners will receive cash prizes worth US$10,0000, $7,000 and US$5,000 respectively.

Nokwary, from Ghana, is a fintech that uses AI to promote financial inclusion. Its AI Powered banking solution offers an opportunity for users to carry out transactions in a language to which they are familiar to using popular social media channels like WhatsApp.

South Africa based Ukheshe, which came in second, provides a bridge between the card and the cash economy. It has created the world’s first card acceptance platform that allows unbanked merchants/traders to accept and make digital payments.

In third place, Growth Factor is a fintech company that provides trade financing solutions designed for Micro-Small/Medium Entities (MSMEs) in order to encourage financial inclusion and growth. Its Nvoicia solution solves cash flow issues caused by delayed payments for SMEs, by enabling them to get paid in 24hrs when dealing with credit clients.

Ade Ayeyemi, Ecobank Group CEO congratulated the winners for their innovation and welcomed all the 2020 fellows: “The quality of the products and pitches we saw in the final this year were amazing. Clearly it is evident that Banking in Africa is moving onto a new dimension with these Fintechs leading the way.

That is why we are so proud to have had them in this year’s competition and are excited to engage further with them over the next year. It is our expectation that we will build a few lasting partnerships which will help improve the lives of Africans all over the continent.”

Dennis Asamoah Owusu, CEO and Cofounder of Nokwary Technologies commented on his victory: “I was beyond excited. Our company is rather young and to be recognized like this on such a stage was really exciting as well as a validation for our focus on creating inclusive technology right from the start.

It is also very encouraging to note that a major bank like Ecobank places such a premium on inclusion and is willing to back and promote innovative and cutting-edge technologies towards that purpose. We are looking to work together with Ecobank to bring an AI-first digital banking platform over WhatsApp, as well as other innovative solutions to Ecobank’s customers.”

This year’s Finalists made it through an extremely competitive pool of over 600 applicants across Africa, Europe, North America and Asia. All ten (10) finalists have officially been inducted into the Ecobank Fintech Fellowship, a one-year program which will give them the opportunity to explore opportunities for commercial partnerships with the Ecobank Group, and to possibly launch and scale products across Ecobank’s 33 country markets in the continent.

Hospitality industry severely stressed by continued neglect and insensitivity

September 1, 2020

Barbara Oteng Gyesi — Photo: Minister of Tourism, Arts and Culture. Credit: Youtube

The National Hospitality Association of Ghana (NHAG) is unhappy with the government for abandoning the hospitality industry to its fate in spite of several promises by President Akufo Addo to support the industry to recover from the effects of the Coronavirus.

A statement issued in Accra yesterday and signed by Theodore Dzeble Executive Secretary said as a result of government neglect, many operators in the industry are shutting down their businesses while droves of employees continue to lose their jobs at an alarming rate as the economic repercussions of COVID-19 continue to batter and strangle the industry.

Several months after the government announced a GHC600 million Coronavirus Alleviation Program Business Support Scheme (CAPBuSS) for micro, small and medium scale businesses affected by the coronavirus, and an additional 9million dollar grant facility supposedly dedicated to reviving the Tourism and Hospitality sector, not even a single restaurant, eatery or hotel, has received support from the government initiative.

The National Board for Small Scale Industries (NBSSI) the state agency mandated by the government to supervise the distribution of the GHC600 million loan facility to affected businesses are not only overwhelmed by the number of applicants (which it was obviously unprepared for) but is fraught with creeping delays, logistical mayhem and a lack of feedback mechanism that only compounds the plight of frustrated applicants.

Whereas the industry is yet to receive any meaningful alleviation support to cushion its losses, our members continue to honor their tax, rent, utility and loan obligations to statutory state institutions promptly without respite. The business environment is quite harsh and inimical to the growth and development of the sector which employs thousands of Ghanaians and is ranked as the fourth largest foreign exchange earner.

The National Hospitality Association of Ghana is therefore calling on the government to create a more conducive business environment for the stability and growth of the sector by reducing water and utility tariffs by 65%, providing moratorium on loans for at least 6 months, negotiating with the Social Security and National Insurance Trust (SSNIT) to supplement the salary of employees by 50% for a 6 month period, reducing property rates and cutting down on import levy on food and drinks to enable the sector to bounce back. Unlike a stimulus package which is quite discriminatory, the above measures are non-discriminatory and have the capacity to stabilize the sector in addition to promoting business growth and empowering the industry.

The National Hospitality Association of Ghana (NHAG) is a union of over 60 mainline restaurants and eateries in the Accra, Tema and Koforidua metropolis. The group is dedicated to promoting innovation, business growth and development in the hospitality sector.

Investor confidence key to our resilience – Republic Investments CEO

August 31, 2020

Chief Executive Officer of Republic Investments (Ghana) Limited, Madeline Nettey, has stated that the confidence shown by unit-holders of the respective funds managed by the investment house has been key to the resilience demonstrated in the face of the impact of the financial sector reforms as well as COVID-19.

She expressed a firm belief that the experience of her outfit is a microcosm of the financial space and is indicative of growing sentiments towards the wider financial sector.

Speaking to the B&FT on the sidelines during the Republic Investments’ Annual General Meeting, she admitted that the funds managed by her firm have been impacted by recent events, which have necessitated an adjustment of forecasts and strategies.

“For 2020, we can see that the strategy at the beginning of the year has had to be recalibrated several times based on developments emanating from the COVID-19 pandemic. We were all anticipating that COVID-19 would’ve left earlier as opposed to what we are currently experiencing.

It has dragged a bit longer and has affected investor confidence, interest as well as access to available capital to invest. That has, in a way, adversely impacted our projected growth for the fund. If we look at the stock market also, the performance hasn’t been as expected. We were hoping for a bit more recovery from the bearish performances it has recorded over the past two years.

Look at some reforms that had to come in at the beginning of the year, where listed equities were asked to hold on with dividend payments among others. This is typically the time that one would find interest in the stock market but once the announcement was made, we realised that investors pulled back a bit and that has adversely impacted the stock market.

“The situation may not be as vibrant as it’s been in other countries, particularly, because of the aftermath of the clean up from last year, which we were expecting to be corrected gradually this year. Unfortunately, COVID-19 came in the first quarter of the year. As a result, that lag will persist for a while; we are not anticipating a lot of growth in the investment sector,” she explained.

Nevertheless, she observed that whilst the Funds have not witnessed a significant appreciation of Net Asset Value (NAV), as has been witnessed by a significant number of Funds in countries such as Canada and Nigeria, there have been no significant redemption requests, contrary to projections made when the pandemic broke out in the country. This, she attributed to investor confidence in the financial sector in general and her firm, in particular.

“Typically, in Ghana, our people have historically looked at the returns, ‘what am I getting for my money?’ nonetheless, looking at the events of last year, you realise that people are now more interested in the security of their funds and dealing with credible institutions, and that is where we present a very strong brand.

“Investors are beginning to understand that despite some negative aspects of the reforms that happened last year, the positive side is that the financial sector has become more robust.

“We have not had much redemption requests; the situation hasn’t excessively changed from what it was in the previous year. And we have always maintained a good level of liquidity to settle requests promptly; this has helped build trust in our operations over time. This has boosted investor confidence, which has served us well in this turbulent season,” she added.

Whilst touting the goodwill enjoyed by her investment house as a result of strong performances and same-day redemption request payments, she revealed that the rest of the year would not be used to pursue aggressive growth but the stability of the Funds.

Standard Chartered excites clients with rewards for signing on to its digital banking platform

August 31, 2020

Standard Chartered Bank Ghana has rewarded its clients who have subscribed and used the bank’s digital banking platform – SC Mobile App, with free three months premium subscription on Boomplay Music and shopping vouchers on Jumia.

The winners were part of a promotion where customers were encouraged to open accounts on SC Mobile and enjoy the power of seamless, convenient and secure banking.

The partnership between Standard Chartered Bank Ghana, Boomplay Music and Jumia was as a response to the recent surge in the consumption of social and digital media by many Ghanaians who are staying more at home to protect themselves from the COVID-19 pandemic.
Star actress and Standard Chartered SC Mobile ambassador Joselyn Dumas shared how simple and easy their lives have become with the usage of the app as they presented the awards to the winners.

Commenting on the initiative, Head Products & Segments, Retail Banking, Standard Chartered Bank, Bossman Kwapong, said: “We recognize that digital lifestyles and e-commerce are the new normal. These rewards represent just a fraction of the goodness that comes with using SC Mobile. We continue to encourage all Ghanaians to sign up to experience real digital banking.”

SC Mobile was launched in 2019 to fulfill the bank’s determination to provide the best digital lifestyle for clients. It has been designed with continuous feedback from clients, incorporating innovative technology to allow clients to execute all banking activities from a mobile device.

A year after its launch, SC Mobile has recorded remarkable growth nationwide, due to its many functionalities that allow users to bank on the go, transact cardless cash transfers, perform local and international fund transfers, pay bills and send money while gaining access to a functional service request center.

COVID-19: Airport reopens, other borders remain closed

August 31, 2020

President Akuffo-Addo has announced that the Kotoka International Airport will reopen and resume operations from Tuesday, 1st September 2020.

This decision, according to the President, has been communicated to international airlines.

He said “It has been well-established that the very first cases of COVID-19 in Ghana were imported into our shores. We are determined to make sure this scenario does not recur. The commitment to ensuring that the gradual easing of restrictions, including the reopening of our airports, does not lead to the importation or resurgence of the virus into our country, is firmly in place.”

The President made this announcement during his 16th address to the nation on measures taken by the government to overcome the COVID-19 pandemic in the country.

He, however, emphasized that borders, by land and sea, continue to remain closed to human traffic until further notice.

The President outlined that any passenger arriving in Ghana must be in possession of a negative COVID-19 PCR test result from an accredited laboratory in the country of origin. The test should have been done not more than seventy-two (72) hours before the scheduled departure from the country of origin.

He said, “All airlines have been instructed to ensure compliance with this directive for all passengers wishing to travel to Ghana, and those airlines who fail in this regard will be duly sanctioned”.

President Akufo-Addo noted that disembarking passengers must do so wearing face masks adding that upon disembarking from the aeroplane, each passenger will undergo a mandatory COVID-19 test at the airport terminal, at a fee to be borne by the passenger.

The test results, according to him, will be available within thirty minutes.

He revealed that children under the ages of five will not be required to undergo testing at the airport.

President Akufo-Addo added that passengers, who test positive for COVID-19, will be handled by the health authorities for further clinical assessment and management; and those who test negative, can, thereupon, enter Ghana to go about their lawful activities.

He said they will be advised to continue to observe COVID-19 safety precautions during their stay in Ghana.

“The Ministries of Information, Health and Aviation, and their respective agencies – the Ghana Health Service, the Ghana Airports Co. Ltd., on Authority – will spell out in further detail the protocols surrounding the re-opening of our international airport, and the procedures to be adhered to by passengers arriving in Ghana at the COVID-19 media briefing tomorrow, Monday, 31st August”, said President Akufo-Addo.

Schools reopen for JHS2, SHS2 students in October

August 31, 2020

Education Minister — Photo: Minister of Education, Mattew Opoku Prempeh. Credit: Modern Ghana

The President, Nana Addo Dankwa Akufo-Addo, has announced the reopening of schools for the completion of the academic year for JHS2 and SHS2 students, from October 5 to December 14, 2020.

However, the decision which was taken after consultation with key stakeholders, limits Junior High Schools to operate class sizes of thirty and Senior High Schools with class sizes of twenty-five.

In addition to this new directive, SHS 2 and JHS 2 students will be allowed back in school for ten weeks to study, and write their end of term examinations.

The President in his 16^th address to the nation, on COVID-19, said “SHS 2 students in boarding houses are to return to their various dormitories on 5th October, whilst day students, respecting fully the COVID-19 protocols, will commute from home to their respective schools on the same date.”

Prior to reopening, all Junior and Senior High Schools will be fumigated and disinfected, as well as supply students and all teaching and non-teaching staff with reusable face masks, when the schools resume.

Additionally, each school will be provided with Veronica Buckets, gallons of liquid soap, rolls of tissue paper, thermometer guns, and 200 milli-litre containers of sanitizers.

Other interventions include the supply of one hot meal a day to JHS 2 students.

Meanwhile, assemblies and sporting events remain banned; and the use by outsiders of school premises for other activities is still not allowed.

GES suspends rest of academic year

August 30, 2020

A decision has been taken by the Ghana Education Service (GES), to postpone the remainder of the academic year for all nursery, kindergarten, primary, JHS 1 and SHS 1 students, the President, Nana Addo Dankwa Akufo-Addo, has announced.

In of this, the academic year will resume in January 2021, “with appropriate adjustments made to the curriculum, to ensure that nothing is lost from the previous year,” the President said.

He said the “relevant dispositions will also be made so that the presence, at the same time, in school of all streams of students, can occur in safety.”

This development follows extensive consultation by GES, according to President Akufo-Addo, who addressed the nation on the latest COVID-19 updates.

He reckoned that despite the inconvenience and the financial burden the continued stay at home of children are posing to parents and guardians, “these are a necessary price to pay in our efforts to protect the lives of our children.”

Showmax new live-streaming service launches

August 30, 2020

Showmax is launching a new service, Showmax Pro, which bundles the existing Showmax entertainment service with music channels, news, and live sport streaming from SuperSport.

Showmax Pro features all Premier League, Serie A, La Liga matches and a wide range of live sport including pro boxing, international marathons and IAAF athletics on top of the full Showmax entertainment catalogue. Showmax originally launched in August 2015 and is available across sub-Saharan Africa.

It is an African video-on-demand service with many years’ experience operating on the continent. Showmax is local-first, which means listening to customers and delivering African stories told in familiar voices as well as the best that Hollywood has to offer. Its local-first strategy is an advantage because it allows it to tailor content, apps, packages, and partnerships specifically to what’s most important in Africa.

Speaking about the new service Cecil Sunkwa Mills, Managing Director, MultiChoice Ghana said: “Last year Showmax launched a mobile-only service for smartphones and tablets featuring all of the Showmax content but at half the cost of the standard Showmax service and consuming less data. This service has also proven popular, so in addition to the standard version of Showmax Pro there is also a mobile-only version at half the price.”

He adds, mobile usage is mainstream in Africa, so having a one-size-fits-all big screen service may not be the best solution. With the mobile-only version of Showmax Pro, anyone with a smartphone in sub-Saharan Africa will be able to get the best African content, the best of Hollywood, and all of the best sporting action.

This is something no other service is doing. Another key development for African markets has been adapting the service for the data connectivity constraints on the continent and focusing on the most-used viewing devices.

Showmax also brings you popular Ghanaian series and movies from the likes of Shirley Frimpong-Manso (including her Africa Movie Academy Award-winners Potato Potahto and The Perfect Picture and her hit series Shampaign, with Jocelyn Dumas); Leila Djansi (including her multi-award-winning film Like Cotton Twines and her hit series 40 & Single); Juliet Ibrahim (Every Woman Has a Story) and Kwah Ansah (FESPACO Grand Prize Winner Heritage Africa).

International shows feature the best of HBO like Game of Thrones, Insecure and Emmy nominees Succession, Watchmen, Little Fires Everywhere, Big Little Lies, and more. Kids favourites include Paw Patrol, PJ Masks and Doc McStuffins. Hollywood blockbusters include Bombshell (2019), starring Charlize Theron and Nicole Kidman, and John Cena in Playing with Fire (2019).

What sets Showmax apart is a unique combination of hit African content, first and exclusive international series, Hollywood blockbusters, kids’ shows, and live sport from SuperSport. Movies are updated regularly plus in Ghana; customers will be able to pay in local Cedi via MTN’s Mobile money services.

Pepsodent toothpaste gets new and exciting pack

August 30, 2020

Pepsodent New Pack High — New pack - Pepsodent Cavity Fighter toothpaste

Unilever Ghana has unveiled a refreshed and new pack for its Pepsodent Cavity Fighter toothpaste. Pepsodent still remains the same trusted brand in Ghana’s oral care sector and the new pack change for easy identification ushers in an exciting period for the brand as it continues its mission to help improve people’s oral health and habits.

Commenting on the new pack, Joel Boateng, Category Manager, Unilever Ghana said: “Pepsodent’s mission is always to use its products, expert advice and innovations to improve the oral health of Ghanaians. While we have unveiled a new pack for Pepsodent, we have maintained the same formulation that will give the maximum cavity protection our customers need for optimal oral health.”

Mr. Boateng advised Ghanaians to look out for the bold red smile on the box as it is one of the distinct features of the new pack. He also indicated that the new pack change replaces the entire Pepsodent cavity fighter portfolio which comes in 15g, 65g and 175g, and can be purchased at any retail outlet, supermarkets and open markets nationwide.

Oral health problems, particularly tooth decay conditions, are some of the world’s most widespread diseases that cause pain, bad breath and lead to cavities which can eventually cause tooth loss. While they usually affect children and young adults, they could also occur at any age in a person’s life….

As Ghana’s favourite oral care brand, Pepsodent toothpaste will continue providing maximum cavity protection to help fight and avoid tooth decay caused by cavities, even faster

Pepsodent is endorsed by the Ghana Dental Association as a quality toothpaste that contains fluoride which helps prevent tooth decay and protects the smiles of the entire family.

“There is no general health without good oral health. With this new pack, we encourage Ghanaians to adopt the healthy habit of brushing twice everyday (day and night), visiting a dentist once a year, and changing toothbrushes once every three months. These simple steps will go a long way to make Ghana a healthy nation,” Mr. Boateng added.

Monique Mawulawe Agbedekpui wins 2020 Miss Ghana

August 30, 2020

Monique Mawulawe Agbedekpui, 23 year graduate of Blue Crest College emerged the winner, at this year’s Miss Ghana Beauty Pageant organized by Exclusive Events Ghana at the National Theatre. According to Miss Agbedekpui, she chose to be part of the Miss Ghana brand because it has shaped a lot of women to become women of substance.

She will volunteer at the Exclusive Events Ghana/Miss Ghana Foundation as well as enjoy a one-year platinum gym membership at Pippa’s Health Centre and other souvenirs from sponsors.

Issabella Eyram Agbo, 18-year-old first-year student of University of Ghana Business School, studying BSc in Administration with Marketing Option and Annlisa Anangfio, 22 years of age and a graduate in Human Nutrition, Food Science with Biochemistry from the University of Ghana placed 1st and 2nd runner ups respectively.

The judging panel which included multiple award hiplife/highlife winner Okyeame Kwame and TV/Radio Hostess Akumaa Mama Zimbi charged the newly crowned queens not to be swayed by social media rather they should serve with passion and be patriotic.

CEO of Exclusive Events Ghana, Miss Inna Mariam Patty said: “words cannot express our gratitude to our most cherished sponsors for demonstrating the true essence of strategic partnerships; standing by us in a globally challenging time as this. May God continue to keep your business’ soaring, now more than ever.

Our amazing panel of judges helped us achieve our most important goal of finding young women who are really passionate about what the Miss Ghana brand symbolizes. Young ladies who are ready to carry the flag of Ghana with pride and purpose anywhere, anytime, forever.

Indeed, the global pandemic blessed us with young ladies who are fighters and prepared to weather the storm with us – in good times and bad times. They demonstrated that it is not about the 3Cs- Cash, Car and Crown. It’s rather about resolved devotion to a good cause and patriotism.

The show was spectacular! With electrifying performances lead by the legendary and only Made-In-Ghana Ambassador, Okyeame Kwame, the Tulips, Mijay, I-Kofi, Arabella and Shugalord. Heartfelt appreciation to the entire dedicated Exclusive Events/Miss Ghana Team,” she said.

Miss Ghana 2020 was supported by Tang Palace Hotel, Silver Queen Cosmetics makers of Notescosmetics, Bel Aqua, Bel Beverages, Akosombo Textiles, Quality Medical Care Clinic, Pippa’s Health Centre, Poised Etiquette Consultancy, Amazing U, Events by Thea, Stevefloral, De Essence, The Underbridge Event Centre, Buck Press, Eye360 Security, Mastermind with Grace Krobo- Edusei, Capitol Cafe & Restaurant, Snax, Cookers Delight, Gold Coast Restaurant & Cocktailbar, Rluri, Jramdo, Namax Kloding, Bellary, Bri Wiredua, Nicoline GH, Katie O, Aya Kloding Hinlone Chinese Restaurant and Woveit.

Yao Afra Yao’s thoughts: A series of knock-knock jokes

August 28, 2020

ghana-px — Photo: Ghana's former presidents sitting in state. Credit: Discover Africa News

Knock knock jokes, like the topic regarding this article, are pretty much unfunny—interesting maybe, but not funny. So it is perhaps fitting that I chose them to help make sense of this mess I have been witnessing for so long now—and perhaps you have too.

It seems like we are trying to build, for ourselves, a country. That is what the constant up and downs, our individual coming and goings, the campaigning, the voting, and the subsequent election of leaders—are all for, right? This all is to eventually help build for us a prosperous, developed nation, isn’t it? If not then what is the point? Interestingly, this is where I find knock knock jokes ringing a bell. I say knock knock; you say, who’s there?

“Knock knock.”

“Who’s there?”

“Nana”

“Nana Who?” “

“Nana your business”

‘None of your business!’—this is how this supposed consensus nation building thing feels like to me. The call on the citizenry to ‘be citizens, not spectators’—this, giving form to the numerous implications by past governments, not just the incumbent, that the Ghanaian citizen is unperturbed, nonchalant; that the Ghanaian has a ‘government-must-do-all mentality’. These are things we, as citizens, have had hammered on us—for so long, so much so that, we have grown inured to them, accepted them as true, and perhaps repeated these insults on ourselves. But this is far, far from the truth. Think about it: far, far from the truth.

Photo: Late fmr. UN Secretary-General, Kofi Annan.

A Series of Complaints by Dismissed Helps, and Kafka’s Poseidon

I have sat through a number of government-held conferences, and have always found the Q&A sessions very enthralling—they are the reason why I attend these programmes in the first place. I have with me a number of recordings, of rants by various vibrant Ghanaian men and women, each chronicling their experiences with our governments. Experiences of dismissals, disrespect, outright rejection just because they dared seek a meeting with this minister, that civil servant—intending to propose to them, what they believe to be, groundbreaking proposals intended to spur national growth.

These, they believe to be their individual quota to our nation building journey. And me, sitting there, I am always pissed—being part of these dismissed helps; dismissed by Kafka’s Poseidon, our governments—always seeking help, always complaining of being swamped, being unassisted, but rejecting it when helping hands are brought.

See, if you have been in this position before, then you know just how it feels. The impression of: “This whole nation building process…it is none of your business!” is conveyed to the proactive citizen (intending to shake themselves off spectatorship) each and every passing day. Be spectators, not citizens—that is more like it.

At one particular conference, the frustrations of the ‘citizen’ Ghanaian had reached its peak, it seems. A woman farmer/inventor brought the house down when she railed representatives of our government. Close to tears, she related the number of times she had sort a meeting with this minister, and that minister, to no avail.

A woman owning a 50,000 poultry/ 600 pig farm. A woman who makes propiti

ous use of everything on her farm: excrements for manure, biogas; pigs hair for false eyelashes; pigs fat for lipsticks, etc. She said it: “Nothing on my farm is wasted!” A woman with the potential to massively impact a wide array of fields, from energy, food and agriculture, industry, all through to cosmetics; with the potential of building a conglomerate capable of hiring a bunch load of people from across numerous sectors. This woman just wanted a meeting with a minister, to showcase this biogas technology of hers.

To keep her quiet perhaps, the chairman of the session hands me a business card to pass to her. Another stalling tactic—like she didn’t already know how to get to him! She was never going to get that meeting, we all present knew—and even if she did, it would amount to nothing.

Now, you may point out this: that it is perhaps because she was a farmer—hence her difficulty getting someone to take her seriously. And by mentioning this, you call to attention, another incredibly disturbing canker in our thinking, but that is a topic for another day. However, I have come to find that these rejections cut across professions, sectors. So long as one is: a) Ghanaian; b) Black, one stands a great deal of chance of being overlooked. This may be the case of a prophet not being respected in their own home—except in the case of us Black folks, not respected everywhere.

There is this Ghanaian professor based in the UK. A diaspora, an innovator, having developed a system to help ease the burden of providing potable drinking water to communities, thought to himself: ‘Let me go to my country Ghana, to contribute my part towards change.’ Needless to say, he sent his inventiveness all the way back to his host country, having failed to secure an audience with policymakers.

This gentleman, I know, developed a project to help build a robust e-learning system in our universities. I have to ask him which juju man he visited who foretold to him, an impending pandemic, because this project of his would have been a ready and working solution to the social distancing the coronavirus has necessitated. Having chased policymakers for years to no end, this dream, this transformative project may just come to nothing.

I had this landlord some years ago, a borga, a ‘poor man’s son’ he called himself who

Photo: Late President, Prof. J.E.A. Mills

came back to his country with a vision. Let me directly quote him on this: “I cannot understand why, a village boy like me, had to smuggle my way into someone else’s country to be ‘made’. I find it silly that my own country couldn’t ‘make’ me; it had to take someone else’s. I find it even harder to swallow that upon return, I am met with numerous, robust walls of resistance against my plans of contributing my quota to the nation’s growth; that to be helpful I need, sometimes, be corrupt—be required to pay bribes here and there.” Do I need mention that he too borga-ed his way back to his host country, his ‘I have a dream’ speech never heard?

As I sit limply through this same conference, exhausted by the countless experiences related, very similar to my own, I check my notes, specifically, a section I have titled ‘Ministries’. There, I have categorised, the various Ministries whose supports I would need to make a certain project successful. In retrospect, I find it all very funny to me—the childlike trust I had, that something as propitious as this would get a listening ear—eventually. Silly me. Even though reading on, I see the number of months it took, navigating endless bureaucracies; each promise of ‘come next week’ I had, I believed in, and followed through, only to be met with another: ‘come next week’. Eventually out of the intended seven ministers, I did meet just three. I was to relate this to a colleague later, only for him to exclaim: “Wow! You’re so lucky; how did you do that?!”

So there you have it: I am Yao Afra Yao, the Ghanaian citizen with a dream who was able to meet 3 out of 7 policymakers to discuss a proposal for national development. Apparently ‘lucky’. Nice to meet you. What is your number?

Not one Government’s Problem & the Politics Card

So many deep-seated problems stifling the Ghanaian development journey are constantly being overlooked with our tendency to pull the ‘politics card’. So much so that, you an NDC supporter, reading on, may be cheering me on saying: ‘Yes! Those corrupt people are running the country down’; and you the NPP supporter—well, you are mad as an elephant can be, at what may be perceived as gibes directed at your political party. Both of you…chill. Let’s ease off with a joke.

Knock knock.

Who’s there?

Candice.

Candice who?

Candice door open or what?

No, this Ghanaian door cannot open—we close doors on our own selves a lot! This is not God’s doing—it is not a biological flaw for us—a people, Ghanaians, Africans, Black men and women—to belittle each other. We see potentials everywhere but in our own selves. This is a sociological problem, I have come to find—finding roots in slavery perhaps. For so long, we had been told by a group of pale-looking people that it is they who hold the secrets to unlocking the world’s goodness; that it is only they who can spearhead our world into better days. We, we have been just tag-alongs for so long.

Sold into slavery, forced into colonialism, forced out of our culture, our own way of thinking, that the world as we know it now, even though we are technically citizens of it, we really are just spectators. All of us: Ghanaians, Africans, Black people, forced into spectatorship. With our gaining of independence(s) in the 20th century, it is safe to say now that presently it is we, who are, with our very own hands, forcing our own selves into spectatorship.

That is why this professor friend of mine got no one to take him seriously. A Ghanaian? Invented a machine to ease the well/borehole drilling process? Tofiakwa! A Ghanaian woman, invented biogas digester? Kai! This person, sitting here writing, a Ghanaian, has created a project to help build university/industry partnerships towards driving our industrialisation journey? Apuu!

The Unsuccessful Braggarts

We still brag about, and leverage our natural resources as our main points of contribution, to the global community—as though we created them—but our human resources, not so much. Yet, that is one damning contributive factor to any nation’s bad/under performance. The inability to utilise its human resources to transform its God-given natural resources into internationally competitive goods and services—thus placing it at a competitive and powerful place on the international plane. That is what separates a wealthy nation from a poor one.

The situation we have in our world is: some developed nations, being relatively scant on natural resources, have found means of building for themselves proactive human resource capital; they have found ways of outsmarting these purported natural-resource-rich nations (developing nations like Ghana)—mostly, by stealing from us (but, again, that is a topic for another day.)

Let’s be frank: it is shameful, our parading about with these natural resources. It is like that child born into a wealthy family, sent through the best of schools, who ends up a useless adult. It wouldn’t be precisely wise for such a person to go about telling people of his promising background, would it? Because that would be adding insult to injury, and blunt people may ask: so then why are you useless now? — after all these natural resources, why are you still struggling?”

Knock Knock

Who’s there?

Me who?

Having and identity crisis, are you?

A Soliloquy

Back to the conference: this honourable (I mean this word) minister took the stage, and started having a long conversation with himself—interestingly telling us the things his own office really ought to be doing. He went to the extent of telling citizens to “put pressure on the government” to put in place policies that would make Ghana internationally competitive. His very own words! This gentleman sitting beside me, is unkind, and murmurs, ‘nonsense!’

What else did he say at all? Oh! He said—he said that we should not just focus on theoretical researches in our various universities, but applied research, those that offer practical solutions to the nation and continent’s problems. “This is the chance for our universities to assist the country…and for the private sector to invest in university research.” Those were his exact words. That was my cue—I found myself, to my dismay, also yelping: ‘nonsense!’

Who was that message directed at, specifically? As someone who has laboriously, as earlier mentioned, worked on getting such a project going, one that would help spur a culture of innovation in the nation; knowing very well the hunger of our various universities to effectively play a part in driving the nation’s industrialisation agenda through both basic/applied research, knowing full well how industries are also thirsty to make such contributions towards change, and having chased policymakers in vain; knowing well that universities are willing and ready; industries are willing and ready, the only unwilling and unready party in this: seemingly the government—I find myself still asking: who was that speech directed to? It ought to have been a soliloquy; we the audience, just unfortunate onlookers.

No nation, will ever be able to secure for itself development—employing internationally competitive tools such as industrialisation and information technology—without the government first and consistently leading by example. Universities are crippled, unable to do what this minister is requiring of them without the government methodically and constantly feeding them with funds.

Industries will, in reality, be and remain un-enticed and unenthused into partnering with universities, without the government consciously creating conducive environments that would make such partnerships work and reap national benefits. The private sector—most importantly the Ghanaian private sector, can never be able to solely carry the burden of funding research universities. The duty lies first, with the government; with the private sector providing supplementary help. This is a topic I tried covering in an article titled ‘Higher Learning; Low Expectations’. We need not go over them all over again.

He ended with an assurance to us in the audience (here is how we knew that he, in fact, hadn’t been, speaking to himself, but to us all along). He said that the government would continue to engage our “collective capacity”. And that we should feel free in reaching out to them (we have been knocking doors, they never open); that we should feel free in writing (see, I am writing); we should feel free in speaking (we have been speaking for so long). The Ghanaian citizen has done all three—what next? We can only conclude that this very distinguished man hadn’t been listening.

We clapped for him as he left the stage, as polite audience do. Many clapped harder, because they needed the noise to mask their incessant retorts of: “nonsense!” Some, rudely awoken by the sound of claps, gingerly joined in. I started clapping too, I must have dozed off myself.

It was a day of mumblings mixed with clapping. We would have, in fact, collectively shouted “tweaa”—had that not gotten one Ghana-man spectator in trouble some years ago.

You know what, I have changed my mind, these knock knock jokes are, in fact, hilarious—so is the Ghanaian journey.

Knock Knock

Who’s there?

Ghana

Ghana who?

We are Ghana try to build a country without effectively utilising our human resources—our manpower and brainpower.

Now, that is very, very funny

>>> the writer is the co-founder, Blarney Stone Inc. (BSI Africa), [email protected]. BSI Africa is an organisation that specialises in the creation of policy-initiating programmes aimed at spurring our country and continent toward economic and socio-economic development www.blarneystoneinc.com

Agyapa deal is a novelty – Ken Ofori-Atta

August 28, 2020

… provides additional income at almost no cost

Finance Minister Ken Ofori-Atta has said that the country has been transparent and forward-thinking in the setting up of the Agyapa Royalties deal which would be Africa’s first Gold Royalty Company which would ensure that the country does not only benefit from mining operation but also trading of recoverable reserves.

Speaking at a press conference to clarify some misconceptions around the deal, the Finance Minister, said the move fell directly into the vision of President Nana Addo Dankwa Akufo-Addo to add value to the nation’s mineral resources along the entire value chain.

“500 times more gold is traded every day than is mined. Much of this is happening in countries that have very little gold themselves. President Akufo-Addo himself is clear in his mind that to achieve a Ghana Beyond Aid, we must add considerable value to what we produce and trade.

We often fail to see this value because when assessing the effectiveness of our policies and legislation, we limit the extent of our expectation to our national borders. We take no interest in what happens to our resources when they leave our shores. Whether it be in how they are traded in foreign markets, how companies leverage them to create cheap financing or the different ways in which they are utilised to create profit.

The value chain includes the international stock market where coincidentally, eventually, all the foreign investors who are involved in the extractive industry in Ghana are also operating,” the minister said.

He added that: “In accessing the value we receive, we often focus on the matrix such as the percentage the government is taking and tax as the only means of access to the value that is obtained by the resource owner which is ourselves. This type of analysis ignores many of the different ways in which the company that extract the resource utilises their rights beyond and outside our borders as a means of creating value.

Specifically leveraging that value to those who do not want to invest directly into our country but do want access to resources and have access to capital that would help us to accelerate our development and diversify our economy.”

He further noted that: “If the foreign investor can use the recoverable reserves in our country he has in a concession granted by us to him to raise money which he can choose to spend here or other businesses he has elsewhere, why can’t we do the same to maximise the benefit we get and use an additional income to accelerate our development and by so doing n expand our economy.”

Information Minister Kojo Oppong Nkrumah on his part said that, despite critics speaking against the deal, it poses no huge financial debt on the country. He said there is nothing untoward about the Agyapa Minerals Royalties transaction. According to him, the deal raises no debt financing for Ghana and bears no loan interest expenses explaining that Ghana has a majority stake in future royalties.

The reason Zoom calls drain your energy

August 26, 2020

zoom-meeting — Photo: People in a Zoom meeting. Credit: helpnetsecurity

Video chat is helping us stay employed and connected. But what makes it so tiring – and how can we reduce ‘Zoom fatigue’?

Your screen freezes. There’s a weird echo. A dozen heads stare at you. There are the work huddles, the one-on-one meetings and then, once you’re done for the day, the hangouts with friends and family.

Since the COVID-19 pandemic hit, we’re on video calls more than ever before – and many are finding it exhausting.

But what, exactly, is tiring us out? BBC Worklife spoke to Gianpiero Petriglieri, an associate professor at Insead, who explores sustainable learning and development in the workplace, and Marissa Shuffler, an associate professor at Clemson University, who studies workplace wellbeing and teamwork effectiveness, to hear their views.

Is video chat harder? What’s different compared to face-to-face communication?

Being on a video call requires more focus than a face-to-face chat, says Petriglieri. Video chats mean we need to work harder to process non-verbal cues like facial expressions, the tone and pitch of the voice, and body language; paying more attention to these consumes a lot of energy. “Our minds are together when our bodies feel we’re not. That dissonance, which causes people to have conflicting feelings, is exhausting. You cannot relax into the conversation naturally,” he says.

Delays on phone or conferencing systems of 1.2 seconds made people perceive the responder as less friendly or focused

Silence is another challenge, he adds. “Silence creates a natural rhythm in a real-life conversation. However, when it happens in a video call, you became anxious about technology.” It also makes people uncomfortable. One 2014 study by German academics showed that delays on phone or conferencing systems shaped our views of people negatively: even delays of 1.2 seconds made people perceive the responder as less friendly or focused.

An added factor, says Shuffler, is that if we are physically on camera, we are very aware of being watched. “When you’re on a video conference, you know everybody’s looking at you; you are on stage, so there comes the social pressure and feeling like you need to perform. Being performative is nerve-wracking and more stressful.” It’s also very hard for people not to look at their own face if they can see it on screen, or not to be conscious of how they behave in front of the camera.

How are the current circumstances contributing?

Yet if video chats come with extra stressors, our Zoom fatigue can’t be attributed solely to that. Our current circumstances – whether lockdown, quarantine, working from home or otherwise – are also feeding in.

Petriglieri believes that fact we feel forced into these calls may be a contributory factor. “The video call is our reminder of the people we have lost temporarily. It is the distress that every time you see someone online, such as your colleagues, that reminds you we should really be in the workplace together,” he says. “What I’m finding is, we’re all exhausted; It doesn’t matter whether they are introverts or extroverts. We are experiencing the same disruption of the familiar context during the pandemic.”

Then there’s the fact that aspects of our lives that used to be separate – work, friends, family – are all now happening in the same space. The self-complexity theory posits that individuals have multiple aspects – context-dependent social roles, relationships, activities and goals – and we find the variety healthy, says Petriglieri. When these aspects are reduced, we become more vulnerable to negative feelings.

Imagine if you go to a bar, and in the same bar you talk with your professors, meet your parents or date someone, isn’t it weird? That’s what we’re doing now – Gianpiero Petriglieri

“Most of our social roles happen in different places, but now the context has collapsed,” says Petriglieri. “Imagine if you go to a bar, and in the same bar you talk with your professors, meet your parents or date someone, isn’t it weird? That’s what we’re doing now… We are confined in our own space, in the context of a very anxiety-provoking crisis, and our only space for interaction is a computer window.”

Shuffler says a lack of downtime after we’ve fulfilled work and family commitments may be another factor in our tiredness, while some of us may be putting higher expectations on ourselves due to worries over the economy, furloughs and job losses. “There’s also that heightened sense of ‘I need to be performing at my top level in a situation’… Some of us are kind of over-performing to secure our jobs.”

But when I’m Zooming my friends, for example, shouldn’t that relax me?

Lots of us are doing big group chats for the first time, whether it’s cooking and eating a virtual Easter dinner, attending a university catch-up or holding a birthday party for a friend. If the call is meant to be fun, why might it feel tiring?

Part of it, says Shuffler, is whether you’re joining in because you want to or because you feel you ought to – like a virtual happy hour with colleagues from work. If you see it as an obligation, that means more time that you’re ‘on’ as opposed to getting a break. A proper chat with friends will feel more social and there will be less ‘Zoom fatigue’ from conversations where you’ve had a chance to be yourself.

Big group calls can feel particularly performative, Petriglieri warns. People like watching television because you can allow your mind to wander – but a large video call “is like you’re watching television and television is watching you”. Large group chats can also feel depersonalising, he adds, because your power as an individual is diminished. And despite the branding, it may not feel like leisure time. “It doesn’t matter whether you call it a virtual happy hour, it’s a meeting because mostly we are used to using these tools for work.”

So how can we alleviate Zoom fatigue?

Both experts suggest limiting video calls to those that are necessary. Turning on the camera should be optional and in general there should be more understanding that cameras do not always have to be on throughout each meeting. Having your screen off to the side, instead of straight ahead, could also help your concentration, particularly in group meetings, says Petriglieri. It makes you feel like you’re in an adjoining room, so may be less tiring.

In some cases it’s worth considering if video chats are really the most efficient option. When it comes to work, Shuffler suggests shared files with clear notes can be a better option that avoids information overload. She also suggests taking time during meetings to catch up before diving into business. “Spend some time to actually check into people’s wellbeing,” she urges. “It’s a way to reconnect us with the world, and to maintain trust and reduce fatigue and concern.”

Building transition periods in between video meetings can also help refresh us – try stretching, having a drink or doing a bit of exercise, our experts say. Boundaries and transitions are important; we need to create buffers which allow us to put one identity aside and then go to another as we move between work and private personas.

And maybe, says Petriglieri, if you want to reach out, go old-school. “Write a letter to someone instead of meeting them on Zoom. Tell them you really care about them.”

BBC

Muhammed Magassy’s thoughts: The EU is fueling hunger in Africa

August 26, 2020

Africa is becoming a new COVID-19 epicenter. In recent weeks, South Africa reported a 60% increase in natural deaths, suggesting a higher COVID death toll than reported. And the World Health Organization recently warned that cases are proliferating across Sub-Saharan Africa, including my country, The Gambia. Unless the European Union urgently rethinks its protectionist trade policies – beginning with the Common Agricultural Policy – a sharp uptick in food insecurity will turn the COVID-19 crisis into a catastrophe.

The CAP subsidizes European farmers to the tune of €42 billion ($50 billion) annually, thereby giving them an unfair advantage in foreign markets, such as Africa. As a report released by the NGO network Coordination SUD last year showed, such subsidies, together with the abolition of market-regulation mechanisms (such as milk quotas), have strengthened EU producers’ ability to export agricultural products at low prices to markets in the Global South.

Such policies distort markets, destabilize developing-country economies, and destroy livelihoods. For example, the CAP has devastated agricultural production in West Africa, particularly for wheat and milk powder. And the problem extends far beyond Africa: local industry and agriculture in Caribbean and Pacific countries have been undermined as well.

The EU’s protectionist policies mean that developing-country farmers, who have access to significantly less support, cannot compete with European imports. In fact, though 60% of Sub-Saharan Africans are smallholder farmers, a staggering 80% of local food needs are met by imports. EU subsidies to its own farmers, along with what the UN Food and Agriculture Organization describes as “unfair trade agreements,” have enabled EU farmers to undersell African farmers dramatically. This protectionist stifling of local producers partly explains why, even before the pandemic, half of Africa’s population faced food insecurity.

Last month, there was a glimmer of hope that the EU was finally rethinking the CAP, at least within Europe. One proposal that was put forward focused on helping small farmers in Europe by expanding community-supported agricultural (CSA) schemes, which directly connect farmers to consumers. Proposed reforms also reflected criticisms of industrial animal farming and trade in livestock over long distances – practices that facilitate the emergence and spread of viral infections similar to COVID-19.

But this approach once again remains inherently detrimental to African producers, who would continue to be subject to EU protectionism in the guise of “free trade.” It is precisely in regions like West Africa, where a large number of smallholder farmers are currently being crowded out of the market by protectionist policies, that CSA schemes would be particularly valuable.

What is needed from the EU is a fairer, more holistic approach that accounts for the effects of its policies on African farmers. In the meantime, European policymakers have shelved the proposals until at least the end of 2022, owing to the pandemic.

Making matters worse, to increase its own crisis stockpiles, the EU is preparing to limit food exports. This could directly constrain Africa’s food supply without supporting African farmers, compounding disruptions to global food supply chains, while placing additional pressure on smallholder farmers.

The CAP is not the only EU policy that is devastating developing-country agriculture. Its 2019 ban on palm-oil imports, ostensibly implemented to prevent deforestation, is similarly misguided.

A blanket ban on palm oil – a common food product also used in biofuels – may simply shift demand to less efficient, more land-intensive agricultural products, such as sunflower and rapeseed oil, resulting in even higher rates of deforestation and greater environmental strain. (Some policy experts believe that this is the point: despite the guise of environmentalism, the ban is fundamentally a protectionist effort aimed at boosting the EU’s own oilseed industries.)

Whatever the motivation, there is no doubt that the ban devastates the livelihoods of smallholder farmers, who comprise 50% of palm-oil producers. Add to that the decline in overall demand caused by the COVID-19 crisis, and smallholder farmers in Malaysia – one of the world’s largest palm-oil producers – are facing a veritable “survival crisis,” despite the tremendous progress the country has made in ensuring sustainable production.

Again, there is some evidence that the EU is rethinking its approach. But the needed changes are far from guaranteed.

As the COVID-19 crisis escalates in Africa, the economic, social, and, eventually, political fallout will be significant. The harmful effects of poorly conceived policies and practices will intensify and multiply. And, in lieu of strong action, millions of people will go hungry.

If the EU really wants to help Africa, during the pandemic and beyond, it must urgently reform its trade policies to ensure a level playing field and enhance food security. We are all in this crisis together. We in West Africa hope that we will not be left alone in addressing it.

Muhammed Magassy, Executive Director of the Magassy Foundation for Relevant Easy Adult Literacy, is a member of The Gambia’s National Assembly and the Economic Community of West African States’ parliament.

Afreximbank provides $400m to the Export Trading Group to drive agricultural productivity and resilience

August 26, 2020

Photo: Kanayo Awani, Managing Director of Afreximbank’s Intra-African Trade Initiative. Credit: Afreximbank

The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG). ETG is one of the largest and fastest-growing integrated agricultural conglomerates in Africa.

The agreement will enable ETG to keep playing its vital role in the agri-foods supply chain of efficiently connecting African farmers to markets as well as expanding access to key inputs to boost agricultural productivity in a continent with tremendous but unrealized potential.

According to Afreximbank’s estimates, Africa spent over $90 billion on food imports in 2019, even though it possesses up to 60 percent of the world’s remaining arable land.

Moreover, the Food and Agriculture Organization (FAO) estimates that up to 50 percent of Africa’s agricultural production is lost every year from farm-to-market due to problems ranging from sub-optimal use of inputs to improper post-harvest storage, processing and transportation facilities.

These challenges have been exacerbated by the COVID-19 pandemic, which has disrupted supply chains, heightened price volatility and could further undermine household consumption.

The facility provided by Afreximbank will address key bottlenecks faced by African agricultural exporters, aggregating large values of produce in order to give small and medium-scale enterprises access to regional and international markets.

Expanding ETG’s work in this area will reduce post-harvest losses through better access to yield-enhancing inputs and more robust networks to get output to regional and international markets. It will also help to boost the scale and productivity of African farmers to position Africa as the world’s breadbasket.

Furthermore, it will also support the vital flow of food supplies across the continent amid the disruption triggered by the COVID-19 pandemic.

ETG is focused on uplifting farming communities by connecting smallholder farmers with international markets, expanding mechanization and processing capabilities, and increasing knowledge around quality inputs, irrigation, post-harvest techniques and yield-enhancing practices.

Kanayo Awani, Managing Director of Afreximbank’s Intra-African Trade Initiative, said: “Afreximbank remains committed to supporting African nations navigate the COVID-19 pandemic; at the same time, we remain focused on boosting agricultural productivity and accelerating the diversification of exports to strengthen the resilience of African economies.

This facility will not only support African farmers through the disruption caused by the pandemic but will provide added impetus to ETG’s vital work connecting the continent’s small and medium businesses to the agricultural networks and avenues critical for growth. With the African Continental Free Trade Agreement on the horizon, the timing is opportune to shape a more productive and resilient agricultural sector—delivering both prosperity and food security for the continent’s future.”

Databank Group donates PPE to frontline medical staff

August 26, 2020

IMG-20200821-WA0000 — Picture: Officials of Databank Foundation presenting PPE to one of the beneficiary health facilities. Credit: Databank Foundation

The Databank Group, through the Databank Foundation, has donated Personal Protective Equipment (PPE) worth over GHS 150,000 to frontline medical staff as part of its commitment to support the fight against COVID-19.

The PPE, which included masks, temperature guns, gloves and disposable gowns, were distributed to different health facilities in the months of July and August.

The CEO of Databank Group, Kojo Addae – Mensah remarked that “while our mission as a company is to help our clients achieve financial independence, there is no wealth without health and we must all play a role in helping our country get through these incredibly trying times. We acknowledge we will have to live with the virus for a while so it is important to us that the people who help to keep us healthy are protected”.

The medical facilities that benefited from the support were the Ga District Hospital, Korle-Bu Teaching Hospital and the Accra Psychiatric Hospital.

In addition to supporting medical front liners, the staff of the Databank Group also made personal contributions to purchase about 600 face masks and 200 bottles of hand sanitizers. They are to be donated to market women, traders and porters (kayayei) at the Makola and Madina markets.

This initiative, dubbed “Stay Safe” campaign, saw Databank staff across the country coming together to join the fight against the pandemic. Staff members who took part in the distribution exercise encouraged traders and customers alike to follow the COVID-19 hygiene protocols while going about their day-to-day business.

This distribution exercise was again spearheaded by the Databank Foundation, on behalf of the Databank Group. The Databank Foundation manages corporate social responsibility efforts of the Group. It also works to promote initiatives in education, leadership development and mental health.

In line with its commitment to provide quality service to its clients even in the midst of the pandemic, the Databank Group has embarked on a “Go Digital” drive to enable clients to invest digitally.

Digital channels which clients can use to open accounts, deposit or withdraw include the Databank Mobile App, Online Services portal at www.databankgroup.com and its flagship code, *6100#, available on MTN and Vodafone.

Nana Amoasi VII’s thoughts: The hydrogen economy is here with us

August 25, 2020

Paa-Kwasi-Anamua-Sakyi — Photo: Paa Kwasi Anamua Sakyi (aka Nana Amoasi VII), Institute for Energy Security (IES). Credit: Laud Business

Hydrogen is today enjoying unprecedented momentum. Supplying hydrogen to industrial users is now a major business around the world. Demand, which has grown more than threefold since 1975, continues to rise, according to the International Energy Agency (IEA).

The world is transitioning from the traditional “hydrocarbon economy” where heating is fueled primarily by natural gas and transportation by the burning of petroleum, to a “hydrogen economy”. The new hydrogen economy is developing as part of the low carbon economy, phasing out fossil fuels and limiting global warming.

The hydrogen economy is an energy system based on hydrogen for energy storage, distribution and utilization. The concept based on a hydrogen energy system was put forward in the 1970s in which hydrogen was proposed as the major energy vector. The concept was conceived because of concerns over the stability of petroleum and gas reserves and the potential lack of stable energy sources. Currently, the interest in hydrogen also centers on its potential as an option for the deep de-carbonization of global energy systems.

Hydrogen is a gas much like natural gas that can be used to heat buildings and power vehicles. However, unlike other liquid or gaseous fuels, when hydrogen is burned there are no carbon dioxide emissions. Versatile and environmentally friendly, hydrogen releases no pollutant such as particulate or carbon dioxide (CO2) when combusted, only water vapour and heat. It can be used to decarbonize electricity, heating, transport and industry. Hydrogen is versatile in the sense that it can be stored, moved and used as energy in a number of ways. It can be transported as a gas in pipelines or in liquid form by trucks and ships.

Hydrogen has a high energy density by weight but has a low energy density by volume. Even when highly compressed, stored in solids, or liquefied, the energy intensity by volume is only 1/4 that of gasoline, although the energy density by weight is approximately three times that of gasoline or natural gas. It was thought of as an energy source of the future. Some critics and proponents of alternative technologies described it as hype, when attention for the hydrogen economy concept spiked in the 2000s. However, proven large-scale and low-emission hydrogen production is already here to kick-start the energy transition.

Growth in Application

Following the formation of the Hydrogen Council in 2017, interest in the energy carrier resurged, and its application has advanced beyond serving as an industrial feedstock, primarily for the production of ammonia, methanol and petroleum refining.

The move towards a hydrogen economy is being partly driven by the use of hydrogen in fuel cells. One of the most potentially useful ways to use hydrogen have been found in electric cars, buses and other means of mobility, in conjunction with a fuel cell, which converts the hydrogen into electricity. Fuel cells electrochemically convert hydrogen into water by reacting it with oxygen, typically contained in air.

Fuel cells are attractive because they are far more efficient than the internal combustion engines, though the latter can still be used with hydrogen fuels if desired. Today several manufacturers are releasing hydrogen fuel cell cars commercially, with manufacturers such as Toyota and industry groups in China, Japan and Korea planning to increase numbers of the cars into the hundreds of thousands over the next decade.

In addition to transport, hydrogen may also be useful as a way to store renewable energy from intermittent energy sources – for example, when the wind is blowing but there is not high demand for electricity. In this context, it is an alternative to large-scale batteries or other storage systems. Another possibility is to use hydrogen as a heating fuel in our homes and buildings, either blended with natural gas or neat. Because hydrogen also burns hot, it has become very attractive for companies making products such as cement and steel.

Hydrogen Production and Costs

Hydrogen does not exist in its pure form on earth. As a result, energy must be expended to produce it. The production is typically from other compounds such as natural gas, biomass, alcohols or water. In all cases, it takes energy to convert these into pure hydrogen. For that reason, hydrogen is really an energy carrier or storage medium rather than an energy source in itself.

At the moment the majority of the world’s hydrogen production is from natural gas using a process called steam reforming. Steam reforming is the reaction of a carbon-based fuel with water to produce a gas mixture of hydrogen and carbon dioxide. Because this production source and process generates significant carbon emissions, this type is known as “grey” hydrogen.

A cleaner version is “blue” hydrogen, for which the carbon emissions are captured and stored under the seabed or repurposed in different ways. Thanks to modern carbon capture and storage (CCS) technology, “blue” hydrogen carbon footprint is relatively small compared to traditional hydrogen processes.

Hydrogen can also be produced from water, using electricity generated from renewable energy sources to split water into oxygen and hydrogen. This is the cleanest one of all. It is referred to as “green” hydrogen, owing to the fact that it produces no carbon emissions. Electrolysis is a convenient and developed technology for splitting water into hydrogen and oxygen and currently produces very pure hydrogen.

Reforming methane from natural gas, meanwhile, releases carbon into the atmosphere, but is considerably cheaper. At the moment, “grey” hydrogen is cheaper than the other two. Its price is estimated to be around €1.50/kg or €0.045/kWh, according to the International Energy Agency (IEA). The main driver is the price of natural gas, which varies around the world.

The electrolysis process though environmentally attractive, is notably expensive. The IEA states that 1 kilogram of green hydrogen, containing about 33.3 kWh, comes in at €3.50 to €5, which is anywhere between €0.10/kWh and 0.15/kWh. However, the agency sees a growing interest in electrolytic, with declining costs for renewable electricity, and advancement in electrolyser technology.

Costs for producing green hydrogen have fallen 50 percent since 2015 and could be reduced by an additional 30 percent by 2025 due to the benefits of increased scale and more standardized manufacturing, according to IHS Markit. It shows that the price delta is set to close over the next 10 years, due to economies of scale and renewable energy deployment.

Green Hydrogen Race

“Green” hydrogen is currently enjoying unprecedented political and business momentum, with the number of policies and projects around the world expanding rapidly. The re-emergence of global interest in “green” hydrogen is influenced by the growing pressure on countries to reduce their emissions, along with falling renewable energy costs and emerging export markets.

Europe’s most powerful supranational organization, the European Commission (EU) recently unveiled it highly anticipated hydrogen strategy, revealing how Europe’s top policymakers intend to expand the fuel’s value chain from production to transportation, storage and consumption. The strategy gives a good overall picture of what an emerging hydrogen economy will look like. It will be a much more integrated energy system; one that moves energy among the sectors of transport, industry, and buildings. The strategy gives the example of cars powered by solar panels on roofs, while buildings are warmed with heat from a nearby factory, which is fueled by clean hydrogen produced from offshore wind energy.

To help scale up production of green hydrogen in Europe, the EU has launched a Clean Hydrogen Alliance of companies, industry experts, national governments and the European Investment Bank. At the same time, the EU will support the development of a market for green hydrogen by creating a standard classification system of types of hydrogen and a certification system to support its trade.

The EU hopes to produce 1 million tonnes from 6 GW of electrolysis capacity by 2024. By 2030, this should have grown towards 10 million tonnes from 40 GW capacity. Germany alone is expected to contribute 5 GW by 2030. EU’s 2030 leap to 40 GW of renewable energy hydrogen electrolysers will be matched by 40 GW of electrolyser capacity outside of the EU producing hydrogen for imports into the EU. Having 2 x 40 GW of electrolyser capacity installed by 2030 would be more than what the Hydrogen Council has proposed for the entire world for 2030.

Other countries such as the Netherlands, also intend to contribute and profit from the new hydrogen economy. The Dutch are uniquely position with access to the North Sea for the installment of wind turbines and an existing gas network that could be reused for export purposes. North Africa, and Ukraine, with their abundant renewable energy resources, are anticipated to become major suppliers in cross-border trade and export of hydrogen to Europe.

Japan is aiming to get 40 percent of all its energy from hydrogen by 2050. This could amount to almost 38 million tonnes per year, with “green” hydrogen featuring prominently. South Korean and the Chinese governments, are also ardent supporter of nascent clean-energy technologies, and are rumoured to be exploring avenues boosting their fuel cell car market.

Email: [email protected]

Bright Ampadu Okyere’s thoughts: Creating a safe and conducive work environment as we battle COVID-19

August 25, 2020

A safe environment — Workers at a Ralphs grocery store in Westchester mark social distancing guidelines for customers on March 22.(Jason Armond / Los Angeles Times)

Every employee must feel welcomed, safe and confident with their self-defined identities. It is the responsibility of the employer to create such an environment. It boosts confidence and creates a sense of belonging. It’s essential that today’s business leaders create safe and inclusive workplaces where workers feel comfortable and welcomed.

This type of environment increases worker satisfaction and, ultimately, organizational outcomes. It reduces the risk levels in the whiles a happy workplace is created. Obviously this will lead to an increase in revenue.

The path toward diversity and inclusion is challenging, however. Accordingly, effective leaders must guide staff members in learning to accept one another.

Contemporary executives recognize that diversity and inclusion are more than buzzwords. It’s not enough to simply hire people from different backgrounds. All staff members must also feel welcome, safe and confident with their self-defined identities. A deliberate effort must be made to design such an environment.

Organizational leaders must be aided with the tips in creating a safe and inclusive workplace.

Make inclusion and diversity a priority: There’s no place or time when discrimination is acceptable. In the workplace, leaders must address bias and inclusion problems immediately.

Duly, organizational leaders must confront discrimination head-on and with steadfast resolve. When doing so, it’s important to clarify that biased and discriminatory behaviour is unacceptable in the workplace.

Furthermore, leaders must make a concerted and public effort to increase awareness that diversity and inclusion is a corporate priority. In one form or another, organizational leadership should expose staff members to messages to keep a corporate culture of inclusion at the forefront of everyone’s mind.

One way to do this is to include diversity and inclusion initiatives as part of professional development. By ingraining these values into all corporate processes, executives can ensure that diversity and inclusion are eternal parts of organizational culture.

Support all employees culturally and professionally: Most often, many organizations only recognize mainstream celebrations, such as Christmas and Thanksgiving Day. Enterprise leaders can bolster diversity and inclusion by celebrating the traditions and beliefs of all cultures.

Promoting cultural inclusion requires a true understanding of all workers’ backgrounds. This could include providing paid time off so that staff members can have elaborate family holidays that are relevant to their ethnicity. Old school associations and other association membership can be a rallying point of getting employees to appreciate the essence of diversity and inclusion.

Leaders must also promote career development for staff members of all backgrounds. All workers should have the same access to professional opportunities.

Leaders can foster this environment by equally encouraging all qualified staff members to pursue corporate training and opportunities for advancement. In action, this could be as simple as praising workers for good performance or establishing written, actionable goals to help staff members advance their career.

Maintain a safe work environment: Inclusive workplace safety policy encompasses more than establishing basic guidelines. Accordingly, effective executive leaders ensure that the workplace is safe for all. This encompasses establishing clearly defined expectations and highlights the fact that all groups are entitled to a safe and comfortable work environment regardless of ethnicity, gender, nationality or orientation.

Inclusive environment design is one way to promote a safe workspace where workers are comfortable and familiar with each other. For instance, organizational leaders can design a dining area that encourages workers to share meals together. This kind of setting leads to interesting conversations and creates a safe place for staff members to share their thoughts.

Larger organizations may need to do more to create a unified workforce. For instance, employee networks are an effective way to create a sense of community while enabling staff members to share their ideas.

Make diversity and inclusion a part of corporate culture: A corporate culture of diversity and inclusion must start with top-level management. Organizational founders and executives must have a real desire to create a diverse and inclusive workplace.

Developing diversity and inclusion requires a two-pronged approach – internal and external development. A sincere desire to promote inclusion will reveal itself in enterprise practices, such as hiring and career advancement. Also, it’s important to hire job candidates who believe in and understand the importance of diversity and inclusion.

Its human nature for people to hire others that make them feel comfortable. Accordingly, it’s essential that human resources practitioners and hiring managers are culturally competent and sensitive towards diversity and inclusion.

Organizational leadership sets the tone for inclusion and diversity. By taking an honest look at recruiting and inclusion policies, corporate heads can build bridges that foster enduring fairness and inclusion in the workplace. There are very competent job seekers with diverse backgrounds, they can attract such talent with very practicable desire to embrace inclusion and diversity.

Source: thepeoplespace.com and Bright Ampadu Okyere

Email: [email protected] Twitter: @ghanasdg Facebook: SDG Alliance-Ghana Tel. # 0244204664

Cyril Rebillard’s thoughts: Tourism trauma and COVID-19

August 25, 2020

wli-falls — Photo: Wli Water Falls. Credit: GhanaTravels

Pandemic-related lockdowns, flight cancellations, and border closures may be putting a crimp on summer vacation plans. However, the precipitous drop in tourism will have an outsized impact on countries that rely on foreign travelers—with potentially large-scale effects on their economies’ national accounts.

Costa Rica, Greece, Morocco, Portugal, and Thailand could be among the hardest hit with losses in tourism proceeds exceeding 3 percent of GDP, according to the IMF’s recently released 2020 External Sector Report.

The chart calculates direct tourism impacts on imports, exports, and current account balances under a scenario that envisions gradual reopenings in September but a drop of about 70 percent in tourism receipts and international tourist arrivals in 2020.

A country’s current account balance is a measure of its total transactions—which includes but is not limited to trade in goods and services—with the rest of the world. For some economies, a drop in tourism (which is considered an export) could have an impact on overall current account balances.

For example, in Thailand, a decrease in tourism due to COVID-19 could bring the country’s overall exports down by 8 percentage points of GDP and have a direct net impact of about 6 percentage points of GDP on its current account balance in 2020. That could erode part of the 7 percent overall current account surplus the country had in 2019.

The outlook for smaller, tourism-dependent nations is even starker. This chart and the External Sector Report focus on medium to large economies, but, under the same scenario, some smaller states especially reliant on tourism could see a dramatically larger direct impact on their trade and current account balances.

Still, the overall effect a decline in tourism will have on current account balances may be less than these projected direct impacts foretell. Smaller, tourism-dependent countries and even larger economies with a large tourism industry may see offsetting indirect effects. For example, smaller nations with less domestic resources often rely on more imports to support their tourism industries. A drop in tourism exports and the economic activity that it drives, both directly and indirectly, will lead to a corresponding drop in imports—lessening the overall impact on the current account balance.

Much is still unknown about the pace of tourism recovery in 2020. Peoples’ desire and ability to travel abroad may continue to face headwinds going into 2021 due to the ongoing pandemic, leaving an uncertain outlook for tourism industries in economies both big and small.

Absa: Supporting StartUp Businesses to scale-up

August 25, 2020

Photo: MD of Absa Bank Ghana, Abena Osei-Poku. Credit: Absa Bank Ghana

Starting a business can be daunting and Absa, through its StartUp Banking initiative, is creating an opportunity for start-up businesses as well as young people with business ideas to scale-up and grow their business.

The Absa StartUp Banking is open to young Ghanaian businesses registered for less than three years and engaged in the production of local goods and services. The initiative is designed to equip start-up businesses with relevant business skills, knowledge and opportunities to scale up.

Ghana has a developing start-up ecosystem that is in need of support and the Absa StartUp Banking proposition provides clear-cut and tailor-made solutions that will bring the possibilities of start-ups to life.

It provides start-ups with support such market access, mentorship, visibility, financial training and capacity building opportunities among others, so they can thrive and grow their business. In addition, the bank is offering free banking services such as zero commission on turnover (COT), free cheque books, free transfers and free debit card, to minimise the financial challenge that is characteristic of start-ups.

This solution is not just an important addition to suites of services, it is an enabler in Ghana’s agenda towards building a strong economy for jobs and prosperity as well as a courageous move, particularly at a time when the entire globe has been thrown into a state of uncertainty.

Over the last couple of years, the consistency with which Absa has shown commitment in supporting new businesses and the SME sector has been inspiring and remarkable.

Mrs. Abena Osei-Poku, the Managing Director of Absa Bank Ghana said, “As a passionate, bold and forward-looking bank, Absa is committed to helping entrepreneurs to scale up their businesses by connecting their dreams to financial services and opportunities. We have the opportunity to help and build start-up businesses to become multinational companies.”

“We are excited and motivated to do this because of our social commitment to be a Force for Good in society. We have supported the development of Ghana over the past 100 years and this is another opportunity for us to reinforce our commitment to Ghana’s economic development, growth and transformation agenda.”

With over 100,000 students graduating from our tertiary institutions annually, it is fundamental that all key stakeholders contribute to the creation of an enabling environment that supports entrepreneurship, lowers the barriers of entry and leads to job creation.

Absa Bank Ghana has taken a bold step to support the growth of Ghanaian Start-ups because it believes small and medium-sized enterprises hold the key to unlocking employment avenues and the economic potential of Ghana.

The dream of supporting the growth of Ghanaian start-ups cannot be achieved alone.

The Absa StartUp Banking initiative, therefore, has a deliberate strategy to call on identifiable stakeholders, partners, institutions and all Ghanaians to encourage and support start-ups to grow and thrive. The future is uncertain, but the Ghanaian Start-up ecosystem remains brave to chase a dream and every Ghanaian need to help make this dream a reality.

Frederick Gurah Sampson & Roselyne Kaledzi’s (Mrs.) thought: Understanding the law on garnishees (2)

August 24, 2020

As indicated in the last publication on 17^th August 2020, we shall continue this topic by looking at the implications of failure of a Garnishee to attend the Garnishee Proceedings after having been duly served, disputes of liability and discharge of Garnishee or Judgment Debtor. We shall also answer the question regarding whether Garnishee proceedings apply to monies that have been paid into court.

A brief recap of some salient points in the last publication. We know that Garnishee Proceedings is a tripartite proceeding among 3 Parties i.e. the Judgment Creditor, Judgment Debtor and the Garnishee. The Garnishee is a third party, not originally party to the suit but brought in only at the stage of execution of Judgment. The Garnishee can be either a person or an institution (usually banks). A person cannot be made a Garnishee unless there exists, a Creditor – Debtor relationship between the Garnishee and the Judgment Debtor. By way of procedure in the Court, we know that Garnishee proceedings is commenced by an application/motion ex-parte i.e. on the blind side of the Garnishee and Judgment Debtor, and the Court upon granting the said application, will make an initial order known as the Garnishee Order Nisi which must be served on both the Garnishee and the Judgment Debtor, in compliance with the rules on service regarding same i.e. at least 7 days before the hearing. Upon hearing the Garnishee and there being no reason not to attach the monies held by the Garnishee, the Court will make the Garnishee order absolute and order the Garnishee to pay out the sum held to the Judgment Debtor.

What happens if the garnishee fails to attend?

If the Garnishee fails to attend upon the Garnishee Order Nisi proceedings or does not dispute the debt due or claimed to be due, the Court may subject to some exceptions make an order absolute under Order 47 Rule 1 of the High Court (Civil Procedure) Rules 2004, C.I 47 against the Garnishee. Order 47 Rule 4 deals with no appearance or dispute of liability by Garnishee and it provides that “Where on further consideration of the matter, the garnishee does not attend or does not dispute the debt due or claimed from the garnishee to the judgment debtor, the Court may, subject to rule 7 make an order absolute under rule 1 against the garnishee” Sub rule 2 makes the point that “An order absolute under rule 1 against the garnishee may be enforced in the same manner as any other order for payment of money”. The question here is, whether upon failure by the Garnishee to attend the proceedings, the court can make the order absolute and the Garnishee called upon to pay for the entire judgment sum, even if the Garnishee does not hold such sums on behalf or to the credit of the Judgment Debtor. The authors answer this in the negative.

It is the authors’ view that, although the rules permit the court to make the Order absolute, this, must subject to Order 47 rule 1 of C.I 47, in relation to the amount held by the Garnishee for the Judgment Debtor without more. Such an Order Absolute (assuming the amount in the Order is above what the Garnishee holds) could be challenged once the Garnishee does not hold such sums on behalf of the Judgment Debtor. Doing so, may mean that the Garnishee will be ordered to pay more than he or she holds for the Judgment debtor, and that is not the intendment of Garnishee Proceedings from the authors’ reading of Order 47 Rule 1 of CI 47. The advice, therefore, is that, if for any reason the Garnishee was unable to attend upon the court and the court makes the order absolute, but the Garnishee does not hold the said amount on behalf of the judgment debtor, and as a result, the order is made absolute, the garnishee should apply quickly or timeously to the court to either vary the order or set same aside. In the absence of such an order varying or setting aside, the Garnishee may be bound to pay the amount in the Garnishee Order Absolute since failing to do so would amount to disobeying a valid court order which is contemptuous.

Disputes of liability and Claims by third parties.

The Rules also allow for disputes of the liability by the Garnishee. This means that a Garnishee can actually come to the court and deny that it/he /she holds monies belonging to the Judgment Debtor. The law is that “Where on the further consideration of the matter the garnishee disputes liability to pay the debt due or claimed to be due from the garnishee to the judgment debtor, the Court may summarily determine the question in issue or order that any question necessary for determining the liability of the garnishee be tried in any manner which any question or issue in an action may be tried.” In this regard, it is possible that the Judgment Debtor may have some monies with the Garnishee but same has been used as a security for a loan, which the Garnishee in its capacity as a bank has granted to the Judgment Debtor, in which case a lien is held over those funds. The Garnishee must indicate to the court that it has a prior interest in the property sought to be attached. When the Garnishee satisfies the court of its interest, the court will order that the funds cannot be attached because the Garnishee has a valid prior interest in the funds.

Persons, aside the Garnishee can also make a claim in the sums or property being sought to be attached in execution. The law allows such persons to state the nature of their claim for the court to determine same. Order 47 Rule 6(1) provides in that regard that “If in garnishee proceedings, it is brought to the notice of the Court that some person other than the judgment debtor is or claims to be entitled to the debt sought to be attached or has or claims to have a charge or lien on it, the Court may order that other person to attend before the Court and state the nature of the claim with particulars of it” At the hearing, the court will make a determination as to whose claim must be upheld by the Court. In that regards the CI 47 provides that “After hearing any person who attends before the Court in compliance with an order under subrule (1), the Court may summarily determine the question in issue between the claimants or make such order as it considers just, including an order that any question or issue necessary for determining the validity of the claim of the other person as is mentioned in subrule (1) be tried in any manner in which any question or issue in an action may be tried.”

When the court determines the claimants’ claim in the negative or dismisses same, the Court will then make the Garnishee Order Absolute ordering the Garnishee to pay whatever sum is owed under the Judgment to the Judgment Creditor.

What happens when the Garnishee pays out the money to the Judgment Creditor pursuant to the Garnishee Order Absolute of the Court?

When the Garnishee pays out the money under the Court Order, the Garnishee is discharged from any obligation he or she has towards the Judgment Debtor. So assuming, the Garnishee is a bank (which is usually the case) that holds money belonging to its customer (the Judgment Debtor) is ordered to pay out the monies, the customer cannot lay claim to that money from the bank. This is the case even if the Garnishee Proceedings is set aside. Simply put, once payment is effected pursuant to a Garnishee Order Absolute, the bank is discharged and the Judgment Debtor cannot proceed against the bank to claim what has been paid out. Order 47 rule 8(1) provides clearly, that “Any payment made by a garnishee in compliance with an order absolute under this order and any execution levied against the garnishee under the order shall be a valid discharge of the liability of the garnishee to the judgment debtor to the extent of the amount paid or levied, notwithstanding that the garnishee proceedings are subsequently set aside or the judgment or order from which they arose are reversed”

Additionally, when the Garnishee pays out the money as ordered by the court, it discharges the Judgment Debtor from any obligation to the Judgment Creditor to the extent of the amount paid. This means that when the third-party (Garnishee) pays, the Judgment Creditor cannot lay any further claim on the amount against the Judgment Debtor simply because the money was paid by the Garnishee and not the Judgment Debtor. The rules are clear on this under Order 47 rules 8 (2) which succinctly provides that “Any payment by a garnishee in compliance with an order absolute under this Order and any execution levied against the garnishee in pursuance of the order shall also be a valid discharge of the liability of the judgment debtor to the judgment creditor to the extent of the amount paid or levied notwithstanding that the garnishee proceedings are subsequently set aside or the judgment or order from which they arose are reversed.” This means that once the money has been paid, there is a discharge of liability from the judgment debtor against the judgment creditor. The import is that, once the payment is done, it is deemed that the Judgment Debtor has made the payment to the Judgment Creditor hence the discharge.

Does Garnishee Proceedings apply to Monies paid into Court?

The answer is an emphatic No. Garnishee proceedings are undertaken for Judgments in respect of payments of money, other than orders for payment of monies into court. Indeed the foundation rule in Order 47 rule 1 quoted previously is explicit on the fact that Garnishee proceedings cannot be taken over/in respect of monies paid into court. Indeed, Order 47 rule 9 is clear on this. Sub rule 1 provides that “Where money stands to the credit of a judgment debtor in court, the judgment creditor is not entitled to take garnishee proceedings in respect of that money but may apply to the Court for an order that the money or so much of it as is sufficient to satisfy the judgment or order sought to be enforced and the costs of the application be paid to the judgment creditor.” To this end, in instances where the monies sought to be recovered, have been paid into court, an application must be made to the court to recover same. Such an application is required by the rules, particularly Order 47 rule 9(2) to be served on the Judgment Debtor at least seven (7) days before the date named for the hearing of the application. If the period is shorter than seven (7) days it amounts to short service and may hinder the progress of the application. This is because once the law requires that a person must be served, one cannot proceed unless that person has been notified of the proceedings in accordance with law.

In the next and final publication, we shall be examining whether, whether the Garnishee Order Nisi attaches or affects monies held by the Garnishee for the Judgment Debtor even after service on the Garnishee of the Order Nisi and some judicial interventions on subject. Keep reading.

The authors are Attorneys @ Law.

Personal branding with Bernard Kelvin Clive: Un-Brand – Why you shouldn’t Brand – What you must know and do before branding

August 24, 2020

Writing a book can be a daunting, time-consuming task. However, it is one of the best things you can do and leave as a legacy — Photo: Bernard Kelvin Clive. Credit: jbklutse.com

“Until you have a purpose and clear direction of your life (business) you will only be building a fake Brand” – Bernard Kelvin Clive

Pause – unbrand! Could it be that you have been doing it incorrectly?

Branding, and more precisely personal branding, has become a buzz word tossed about now and then by lots of people.

Well, let us quickly look at the definition of personal branding.

“Personal Branding is the combination of one’s skills and talents to produce value for people that creates an impression, perception and reputation in the minds of others.”

It is how you distinctively market your uniqueness. Now, this sets the tone for our discussion – unbrand.

As much as I’m an advocate for branding (personal branding), I strongly believe that not everyone should Brand…. Ask me Why?

To begin with, the question of why you do what you do is the most important that must be honestly answered before starting.

To get the best out of your branding journey, it requires understanding the process and proper implementation strategies. If you begin on the wrong foot, you are likely to slide and fall – unable to achieve the set goal of your brand.

Branding can be a complex maze to journey through if you don’t have the prerequisite knowledge of it and how to get it done right. Over the years, I have identified why some personal brands fail and why one shouldn’t build a brand with such misguided notions.

Here are some reasons why you shouldn’t brand, and what you can do about it:

Un-Purpose

Purpose is a foundational pillar in brand building, without that essential pillar, the brand will come crashing down. Here is the thing: firstly, people who haven’t yet discovered their purpose in life will find it challenging to build a brand. Secondly, those who haven’t defined a clear reason for building a brand will just be circling their brand like a whirlwind – lots of movement without hitting a target. When you do not have a specific purpose for your life and business, there is no need to brand yourself.

Simon Sinek clearly articulated the power of purpose this way: “Very few people or companies can clearly articulate WHY they do WHAT they do. By WHY I mean your purpose, cause or belief – WHY does your company exist? WHY do you get out of bed every morning? And WHY should anyone care? People don’t buy WHAT you do, they buy WHY you do it”.

The Fix: Find your purpose and set a clear purpose and direction for building your brand and business.

Un-Skilled

Skills are the extra strings that give you the edge in branding. It’s your skill that will help you offer more value for your clients and customers. When you are unskilled, you have limited value to offer. If you haven’t added any skill to your talents and have not mastered any skill, your brand-building journey will be short-circuited. Skill serves as a propeller of your brand. Skills are the whetstone that is used to sharpen your sword – talent.

The Fix: Learn some skills that will complement your gifts and talents. An example is if you are a natural talker(tive), learn public speaking, business networking, sales skills. These skills help you communicate effectively to enhance your brand and business.

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” – Abraham Lincoln.

Un-Prepared:

Branding should be embraced as an investment rather than an expense. Oftentimes in my brand consulting work, I engage a number of individuals and organisations who love the concept of branding and are willing to brand; however, they are unwilling to sacrifice to make that happen. Any successful project demands proper preparation, planning and execution. Branding will cost you, it doesn’t come cheap; it will cost you some time, energy, money etc., so brace yourself before you get started. Without planning and preparation, your brand-building process will suffer many deaths – destruction, detours and delays. Every aspect of your brand-building requires planning and preparation; from your brand’s vision to its implementation. You are assured of success when these plans are followed through successfully.

The Fix: Develop a plan for your brand and prepare for every strip and stage of the brand journey. This will better equip you to brand properly.

He who starts branding based on the reasons stated above will eventually be on the verge of failure. In the sight of men, you may be celebrated as successful per your brand, but because your brand was built based on the wrong reasons – not built with a clear sense of purpose and direction – its foundation will be shaky; and eventually, it will collapse and fade out.

“Have a bias toward action – let’s see something happen now. You can break that big plan into small steps and take the first step right away.” – Indira Gandhi

Finally, before you begin branding get some education – your ‘why and how’; if not, don’t brand!

You have to be intentional about your personal brand.

Branding is a journey to begin today.

Remember, at the end of life you will give an account of your life to the Almighty God – the giver of life; do the master’s will, live to please Him!

Go, make your brand count!

Do you have questions or need help with your personal brand or business, just contact me via [email protected]

TUC wants stakeholder forum on pensions

August 24, 2020

Photo: TUC Secretary-General, Dr. Yaw Baah. Credit: Daily Guide

The Trades Union Congress (TUC) is once again reiterating its call on the government to convene a Stakeholder Forum to discuss the low lump-sum benefits and related issues without further delay.

TUC made the call at its General Council meeting held on August 6, 2020, which was the first General Council meeting since the outbreak of the coronavirus pandemic in Ghana.

The low pension (lump-sum) benefits and human rights abuses were among the important national issues which received special attention from the Council.

Low pension benefits, especially the incredibly low lump-sum/past credit being paid to retirees who retired in 2020, continued dominated discussions at this year’s General Council.

On the basis of analyses available to the TUC, the General Council in its December 2019 deliberations expressed worry about workers who were due to retire from January 2020 – whose lump-sum would be based on past credit from SSNIT and benefits from their second-tier schemes.

Hence, the General Council discussed some unresolved pension-related issues – including the lack of clarity on the computation of past credit to be paid by SSNIT; and the fact that second-tier contributions have not been invested over a long enough period to generate adequate returns, as envisaged by proponents of the three-tier pension system.

“There was a genuine fear that workers who retire in 2020 and beyond might be worse-off in terms of lump-sum benefits compared to lump-sum benefits under PNDCL 247”.

To address these and related issues, TUC proposed a stakeholder forum on pensions in 2019.

However, regrettably, no forum was held and these issues remain unresolved. Many workers have retired on the three-tier pension scheme with harrowing experiences, indicated a statement signed by TUC Secretary-General, Dr. Yaw Baah.

“Pension Payment Statements we have gathered from some of our members who retired in 2020 show that they are worse off because their lump-sum benefits are far lower than what they would have received if they had retired under PNDC Law 247. This is unfair and unjustifiable.”

The pension reforms that gave birth to the current pension system were premised on the idea of enhancing retirement income for workers, the TUC notes.

“Therefore, no retiree should be worse-off compared to the old pension system. Why should workers, who have retired after more than three decades of dedicated service to this country receive such paltry sums as a lump-sum benefit?”

Another important issue that received the General Council’s attention was the gruesome murder of a 90-year old woman, Akua Denteh, at Kafaba in the Northern Region.

The Council was outraged by this heinous murder and the barbarism it portrays of Ghanaians in this day and age. The Council condemned the murder of Madam Akua Denteh and called on the government to ensure that the security agencies bring all those who participated in such a disgraceful act to be punished in accordance with laws of the land.

The Council further urged the government to institute special measures to protect elderly women in Ghana, particularly in parts of the country where they face perennial threats for ‘witchcraft’.

“Government must implement a special programme that provides basic income, housing and other amenities for the aged – including those suffering in the so-called ‘witch camps’ in some parts of the country.”

Development Discourse with Amos Safo: Infrastructure, ‘value for money’ and 2020 elections

August 24, 2020

Interchange 2 — Graphic impression of Pokuase Interchange and Kwame Nkrumah Interchange

Debates on elections 2020 have shifted from prudent management of the economy to which party has provided the largest number of infrastructure, at what quality and at what cost.

When he presented the Mid-Year budget review on July 23, 2020, Finance Minister Ken Ofori-Atta repeatedly stated that the New Patriotic Party (NPP) government had proved to be better managers of the economy than the opposition National Democratic Congress party. The Finance Minister alluded to the poor state of the economy his government inherited in 2016 – indicating that the economy was recording the lowest growth rate in many critical areas.

According to him, expenditures in sectors like Education, Agriculture and Health targetted at addressing the basic human needs of Ghanaians were low. This had resulted in low productivity, deteriorating standards of living, and general despondency. Our governance institutions had also been deprived of the needed resources to play their critical roles.

One critical sector of the economy the Finance Minister attributed to his government’s efficient management of the economy is the nation’s energy supply. “We have relegated ‘dumsor’ to the past. It is clear to our fellow Ghanaians by now that we have enjoyed three and half years of reliable and cheaper power. Mr. Speaker, we have proven repeatedly that we are better managers of the Ghanaian economy. Together, we took Ghana out of HIPC and placed it among Lower Middle-Income Countries within a decade. Together, we recovered and revitalised a critically weakened economy, and today we can now attract renowned global automobile companies in just three years of returning into office.”

Last week Ghana’s Vice President, Dr. Mahamudu Bawumia, gave another twist to the election debate when he catalogued the number of infrastructure projects his government delivered in three and half-years, compared to eight years of the previous government. According to the astute economist, his government has delivered more infrastructure in four years compared to the whole eight years of the NDC government. He disclosed that a total of 17,334 projects had been completed or are at various stages of completion – adding that these projects are not just urban-based but spread across the country. He then said sarcastically that the government’s infrastructure record is not the artist’s impression of projects published in the NDCs ‘Green book’.

Survey for economic growth.

Dr. Bawumia indicated that before the 2016 election, the NPP conducted a comprehensive survey on the development of Ghana which revealed profound challenges, notable among them being the large infrastructure deficit and wide disparity in urban and rural development. This study informed our 2016 manifesto in the area of infrastructure. Subsequently, on assuming power, he said the government’s focus was on providing infrastructure for all. He said government’s approach to providing infrastructure development in Ghana is two-fold: to provide the infrastructure needs of the poor and the micro-levels – such as water, toilets, clinics and electricity; and to provide for broader infrastructure needs of the economy at the macro-level to drive economic growth.

The Vice President underscored the catalytic role of infrastructure such as roads, hospitals, factories and all the social amenities people need to unleash the potentials for inclusive economic growth. According to him, this current age of the 4th industrial revolution makes it prudent for every country to invest in industrialisation; hence government’s policy of transitioning economy from low to high productivity levels driven by digitisation.

“To do this, we have to put in place the required soft infrastructure: the digital infrastructure which in many respects may be more important than the physical infrastructure that we are used to. This has not received much attention in our development process until recently.”

Dr. Bawumia disclosed that over the last three and half years, the government has implemented various infrastructure projects across sectors, totalling 17,334 throughout the country since January 2017. In all, a total of 8,746 projects have been completed, while another 8,588 projects are at different stages of completion across the country.

Road Infrastructure

Aside from the other infrastructure, the Vice President’s data on road infrastructure caught the attention of many Ghanaians. This is because of the controversy surrounding the cost and quality of some past projects. He recalled that on the assumption of office, government witnessed several protests relating to the poor state of road networks across the country. The protests came against a backdrop of claims by the previous government that they had constructed most of the roads in Ghana.

Perhaps the highlight of government’s infrastructure drive was the declaration of 2020 as ‘the Year of Roads’. According to Dr. Bawumia, since 2017 government has undertaken a total of 1,927 road projects across the country. Out of those, 1,307 have been completed while 620 are under construction.

Value for money

Among the key issues fuelling the infrastructure, debate are procurement processes, value for money and the quality of delivery. According to the Public Procurement Act, 2003 (Act 663), public procurement is the acquisition of goods, works and services at the best possible total cost of ownership, in the right quantity and quality, at the right time, in the right place for the direct benefit or use of governments, corporations or individuals, generally via a contract.

For procurement to achieve its goals, it should follow these two (2) principles: Professionalism and Value for Money. Professionalism is the discipline whereby educated, experienced and responsible procurement officers make informed decisions regarding purchase operations. Value for money is derived from the optimal balance of benefits and costs based on the total cost of ownership.

Value for money is a term generally used to describe an explicit commitment to ensuring the best results possible are obtained from spending the taxpayers’ money. Sadly, in Ghana, public procurement processes continue to be shrouded in secrecy – with sole-sourcing dominating procurement decisions, especially between 2009 and 2016. During these periods, there were several concerns about the cost of roads and hospital projects that raised eyebrows over value for money for the taxpayer.

During his presentation, Dr. Bawumia questioned the cost of interchanges undertaken by the previous government. According to him, the four interchanges that his government has completed or is constructing (Tema, Pokuase, Tamale and Obetsebi Lamptey) totalled US$289million, while the Kwame Nkrumah Interchange alone was constructed at a cost of US$260million. This, in the view of this writer, is the case of an individual or a group shortchanging the taxpayer out of millions of dollars at less value.

What’s even worse is that two of the current government interchanges (Tema and Pokuase) are each bigger than the Kwame Nkrumah Circle interchange, which cost the taxpayer a whopping US$260million. Here is the formula – One interchange = US$260million and four interchanges = US$289million. I am not saying that members of the current government are angels, but the Kwame Nkrumah Interchange cost raises more questions than answers. What could account for such a huge disparity in the procurement process and award of contracts? Certainly, one of the two major parties vying for power in 2021 is in a position to protect the public purse and give the taxpayer some value for money.

Track records

This is the first time in Ghana’s history that a former president (John Dramani Mahama) is contesting an incumbent president (Nana Addo Dankwa Akufo-Addo. The battle-lines and perhaps the decider of the election could be based on track-records; who did what, at what quality and at what price? Certainly, infrastructure – especially roads – will be central to the debate. My view is that the main opposition contender (NDC) has become overly defensive of its track record. The fact that it is now claiming credit for every project the current government has initiated or completed gives an indication that NDC has a little record, if any, to campaign on.

I’d much rather have the NDC and its candidate focused on new policy innovations which would make a difference if/when they return to power. That said, the US$10billion infrastructure fund promised by candidate John Dramani Mahama is overly ambitious, if not unrealistic. I wonder if even Donald Trump and Joe Biden, the main contenders in the United States presidential elections, would dare to make such huge promises against the backdrop of World Bank and IMF predictions of a gloomy global economic outlook, post COVID-19 recovery.

Transparency and accountability

The Vice President proved his government’s infrastructure record by unveilling a website (www.deliverytracker.gov.gh) named the ‘delivery tracker’ – a portal whereby Ghanaians can track the status of government promises and also infrastructure projects. As the name implies, the ‘delivery tracker’ is geared toward enhancing transparency and accountability in governance. It will also enable the government to monitor all infrastructure projects to ensure uncompleted projects are prioritised in the process of capital budgeting, according to the Vice President.

In fact, as Dr. Bawumia put it, this is the first time any government since the fourth republic has opened itself for public scrutiny; as well as promoting participation in the governance process ahead of a major general election. Transparency and accountability have become two concepts that are driving good governance at the macro and micro levels. Without transparency and accountability, governments and businesses are deemed to be less open and less amenable to change and progress.

In fact, the central argument in development literature is that the process of governing is most legitimate when it incorporates democratic principles such as transparency, pluralism, citizen involvement in decision-making, representation and accountability. Civil society, the media and the private sector are deemed to have roles and responsibilities for holding government accountable. An accountable political system is one in which the government is responsible to voters to the highest degree possible.

The common notion is that when accountability works well, it enables a degree of feedback between the government and the public it serves. So, in my opinion, the ‘delivery tracker’ innovation will make Ghana stand out as a country promoting transparency and accountability in governance. Let me emphasise that it is uncommon, at least in our context, for a government to open itself up to public scrutiny in an election year. This is not only bold but also represents democratic maturity and good leadership. Without a doubt, this initiative has set the standard for future governments in Ghana and Africa to follow.

(***The writer is a Development and Communications Management Specialist, and a Social Justice Advocate. All views expressed in this article are my personal views and do not represent those of any organization(s). (Email: [email protected]. Mobile: 0202642504/0243327586)

Ghana, Ivory Coast create joint body to coordinate cocoa policies

August 24, 2020

The world’s two largest cocoa producers, Ivory Coast and Ghana have created a joint body to improve coordination in research, price setting and the fight against child labour, the Ivorian government said on Thursday.

The two countries, which produce around 60% of the world’s cocoa, have coordinated on some of those issues before, but the new organisation marks a formal step towards closer ties.

The Ivory Coast-Ghana Cocoa Initiative (ICCIG) will promote their cocoa industries internationally and defend their collective position in the global market, the Ivorian government said in a statement.

The organization will allow the two countries to formalise an agreement started three years ago whereby they both announce farmgate prices at the start of the growing season on Oct. 1, a measure aimed at reducing smuggling across their shared border.

Last year they raised the guaranteed price they pay cocoa farmers to around $1.50 per kilogramme for the 2019/20 main crop harvest.

They also introduced a minimum price floor to address a perceived imbalance between farmers’ incomes and money made by big commodities traders.

Reuters

Towards water security in Africa

August 24, 2020

Data from the United Nations Environment Programme (UNEP) suggests that Africa is home to 63 international transboundary river basins that cover approximately 64% of the continent’s land area and also hosts 93% of the region’s entire surface water resources yet a large percentage of the population do not have access to clean water – highlights from a recent study published by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH indicates that with an estimated urban population growth of 1.3 billion by 2050, urbanization in SSA has outpaced progress on water coverage as access to piped water has declined from 67% in 2003 to an all-time low of 56%. Although North Africa made tremendous progress by extending water coverage to 92% for the Millennium Development Goals (MDGs), the water coverage for Sub-Saharan Africa (SSA), was only 61%, failing to reach the 75% target set by the MDGs for the region. An analysis of data from 35 Sub-Saharan African countries, thus 84% of the region’s population reveals that more than 90% of the richest quintile in urban areas use improved water sources with over 60% having piped water on their premises.

Source: Millennium Development Goals Report, 2012

Conversely, in rural areas, less than 50% of the population have access to improved water sources and piped-in water is not available to the poorest 40% of households.

In SSA, a large percentage of the population usually trek long distances before they get access to water – women and girls spend 40 billion hours per year, collecting water. This annual contribution from women and children in SSA is equivalent to the total value of labour for France’s entire workforce in a year. In SSA, a single trip to collect water could take an average of 33 minutes in rural areas and 25 minutes in urban areas.

A study published by the National Center for Biotechnology Information (NCBI), reveals that in 24 countries in SSA, more than two-thirds of the population leave their homes to collect water – approximately 13.54 million adult females and 3.36 million children are responsible for the collection of water in households with the time for collection exceeding 30 minutes. This precarious condition exposes the population in the region to many health risks. According to United Nations Children’s Fund (UNICEF), due to lack of water in SSA, about 180,000 children under the age of 5 years die every year, thus 500 children die a day as a result of diarrhoeal diseases linked to inadequate water.

The population of SSA has almost doubled in the last 25 years but access to water in the region has increased to only 20 percentage points within the same period. Currently, close to 50% of the world’s population without access to improved drinking water live in SSA. With an estimated US$260 billion per year global economic loss attributed to inadequate water, hygiene and sanitation; Central Africa and West Africa, the two sub-regions with the worst access to water are heavily affected by this economic loss. A joint report from the World Health Organization and UNICEF reveals that no country in Central Africa and West Africa has universal access to water – although Sao Tome & Principe, Gabon and Cabo Verde have the highest water coverage rates of 97%, 93% and 92%, respectively, there are countries such as Equatorial Guinea, Chad and Democratic Republic of Congo where about half of the population in these countries do not have access to drinking water.

The United Nations Environment Programme (UNEP) estimates that by 2025; 25 countries in Africa will experience water stress thus, below 1,700 m³ per capita annually. To improve water security on the African continent, Governments should implement evidence-based policies that invest adequately in infrastructure development in the water sector. Currently, African countries invest about 0.5% of their Gross Domestic Product (GDP) and a small percentage of foreign assistance to the development of the water sector. According to the International Monetary Fund (IMF), Africa’s annual infrastructure investment gap is about US$22 billion. This infrastructure deficit is worsened by poor management, below-cost recovery tariffs and low collection rates, especially in countries with relatively abundant water resources – the World Bank recently conducted a study to assess the performance of water supply service providers in Africa. The findings of the study show that about 50% of these utilities have not generated enough revenue to cover their operation and maintenance costs. This perilous condition can be curbed by enhancing the operational capacity of private and public utilities via sufficient resource allocation and the implementation of anti-corruption policies in these organizations.

Again, to manage water resources efficiently, it is imperative to conserve the forest cover in Africa. Forests in Africa play an essential role in mitigating the impact of climate change – with a rich biodiversity of 20,000 plant species and the Congo Basin which accommodates the world’s second-largest contiguous tropical forest, forests on the continent are extremely important in conserving water bodies. Unfortunately, the forest cover in Africa continues to depreciate – according to the United Nations Food and Agriculture Organization (FAO), Africa is the only continent with the highest rate of deforestation, thus 3.4 to 3.9 million hectares per year. Governments and development organizations should invest in reforestation programmes to replenish lost forest cover – this will scale-up the capacity of forests to mitigate the impact of climate change on water resources and also control floods in Africa.

Also, the re-use of wastewater can reduce the rate of extraction of scarce groundwater in Africa – as the population in urban areas soars, the demand for drinking water continues to increase and the volume of wastewater also increases – in Lagos, Nigeria’s largest city, about 1.5 million m³ of wastewater is discharged every day but most of this quantity of wastewater is untreated. Policymakers should channel resources to the development of dams and innovative technologies that focus on the low-energy treatment of wastewater, proper disinfection of wastewater and rainwater treatment. These water facilities which include reliable water storage systems should be built in strategic locations to effectively serve the agriculture, industrial and household demand in Africa.

About the Authors

Photo: Alexander Ayertey Odonkor. Credit:Alexander Ayertey Odonkor.

Alexander Ayertey Odonkor is a chartered economist and a chartered financial analyst with specialization in the economic landscape of developing economies. Alexander has carried out the International Monetary Fund’s (IMF) program on Financial Programming and Policies – with a master’s degree in finance and a bachelor’s degree in economics and finance, he also holds postgraduate certificates in; entrepreneurship in emerging economies and electronic trading on financial markets from Harvard University and New York Institute of Finance, respectively.

Photo: Sumeera Asghar Roy. Credit: Sumeera Asghar Roy

Sumeera Asghar Roy is a PhD candidate in Plant Biotechnology of Fruits at the National Key Laboratory of China and a researcher at the China Agricultural University, Beijing. Sumeera holds a master’s degree in Horticulture from the University of Agriculture, Faisalabad, Pakistan.

Regional integration as a tool for wealth creation in Africa

August 24, 2020

nana-and-buhari — President Akufo-Addo in a handshake with President Buhari, of Nigeria. Credit: Office of the President

There is a need to focus on fundamentals: producing more of what Africa consumes and consuming more of what Africa produces

The COVID-19 pandemic and its health and economic impacts have forced a global rethink of the current multilateral framework and what it means for the future. For Africa, COVID-19 has served as a wake-up call in many ways. The mitigation measures that were put in place by most countries, globally, to contain the spread of the pandemic, and particularly border closures and lockdowns, resulted in reduced economic activity and supply chain disruptions across the whole world, Africa included. Reduced economic activity has meant demand contraction in Africa’s key markets, who were worse affected by the pandemic, thus depressing export revenues as commodity prices have continued to plummet.

Several African manufacturers have successfully reoriented operations to begin production of Protective Personal Equipment (PPE) and ventilators to meet local demand. However, for the most part, pandemic-related disruptions have exposed African economies’ overdependence on high commodity prices and exports of raw materials to fund basic government services. Together, disrupted international supply chains and domestic lockdowns created a perfect storm in which income, goods or services stopped circulating as economies came to a standstill. No money, no movement, and a realization that most African countries lack economic diversity and resilience.

So, what is to be done? Simply put, there is a need to focus on fundamentals: producing more of what Africa consumes, and consuming more of what Africa produces. This does not mean cutting Africa off from the outside world. However, it does mean focusing first and foremost on the African market, and other markets secondarily. It means the need to think about Africa more like a single common market to facilitate scaling up. Producing and consuming locally will facilitate the development of supply chains that will offer small companies, and countries, opportunities to leverage their strengths and specializations and feed into large value chain networks that create more value through production, processing and distribution. And it means raising the standards within African supply chains to enable African firms to produce world-class industrial products.

To achieve this, there needs to be a concerted effort to shore up manufacturing in Africa. The demand for manufactured goods is already there, as evidenced by the figures on the import of manufactures. Key to enhancing manufacturing in Africa is improving intra-African trade through the effective operationalization of the Africa Continental Free Trade Area (AfCFTA), which would spur industrialization.

The COVID-19 crisis has shown that enhanced industrial production in Africa is entirely achievable, especially as countries have struggled to source inputs and products from overseas. African industries do have the potential to respond to demand and in fact, there is potential to leap-frog into advanced manufacturing and create the required capacity to produce quality world-class goods.

By extension, the pandemic has also exposed the vital importance of economic capacity not only for socioeconomic development and industrialization but to enhance resilience against crises and exogenous shocks that often occur without warning. Building on existing regional strategies for disaster risk reduction, there is also a need to factor in how pandemics present a multi-dimensional set of risks that require integrated responses to mitigate systemic risks.

The capacity to locally manufacture the basics that are critical during emergencies—foodstuffs, clothing, shelter—and building the markets and supply chains needed to ensure a good supply of these, would contribute significantly to GDP, income and job creation.

The question becomes how to build the markets and supply chains needed to ensure Africa can provide for itself, including during emergencies. For example, Africa has several agricultural commodities on which regional value chains can be constructed. These alone would contribute significantly to GDP, incomes and job creation while also paving a shift into the manufacture of light intermediate goods (e.g., wood products, textiles and leather) adds to the range of possibilities. As Africa builds more critical mass, the continent would increasingly move investment into distribution, data transmission and services to ensure these goods make it to market. Financing and insurance are needed across the spectrum, as are all the skills of the youth and specialists who can help manage the IT and logistics that leverage digital capabilities. This will create high paying, skilled jobs for Africa’s youth. In other words, there is a need to take a horizontal view of value creation and maximize opportunities to generate these in Africa, for African economies, African businesses, African workers and African consumers.

So how can this be achieved? Fulfilling the African Development Bank’s High 5s priorities: Light Up and Power Africa; Feed Africa; Industrialise Africa; Integrate Africa; and, Improve the Quality of Life for the People of Africa, would address these challenges on multiple fronts and instrumentalize a tightly interconnected African market. The High 5s address the continent’s demonstrated need for power generation to electrify households and industries; enhanced transport links to connect African countries by land, sea and air; ICT for communication and digital management of logistics; financial markets to integrate for more and better financial flows for business enterprises to flourish and to meet household needs; and agribusinesses that rely on the latest seed and other technology to produce the crop yields needed to sustain Africa’s fast-growing populations.

By producing what it consumes and consuming what it produces as its countries and businesses progress up the value chain, Africa can build wealth, opportunity and resilience and ensure the successful realisation of Agenda 2063.

Khaled Sherif is the Vice-President, Regional Development, Integration and Business Delivery at the African Development Bank

Percentage point increase in debt to GDP in 2020 is the lowest since 2013

August 24, 2020

Accumulation and sustainability of debt relative to gross domestic product (GDP) in the Ghanaian economy have been a major concern to some citizens, financial and economic analysts in recent years. The debt-to-GDP ratios recorded by Ghana in recent years are as follows: 2012 = 35.58%; 2013 = 43.22%; 2014 = 51.16%; 2015 = 54.83%; 2016 = 57.12%; 2017 = 57.27%; 2018 = 59.29%; 2019 = 63.01%; and 2020 = 63.46%. The actual figures revealed steady increase in debt-to-GDP ratios over the period.

However, the rate of increase varied from one financial year and political-administrative period to the other; the rate of increase varied from 2013 through 2016, and from 2017 through 2020 respectively.

Available data from 2012 through 2020 indicate the respective highest percentage points increase in Ghana’s debt-to-GDP ratios were recorded in 2014 (7.94%) and 2013 (7.64%). The average percentage points increase in Ghana’s total debt accumulation from 2017 through 2020 is 1.59% ((0.15% + 2.02% + 3.72% + 0.45%) ÷ 4 = 6.34% ÷ 4 = 1.585 = 1.59%). This is significantly lower than the average rate of accumulation (5.39%) from 2013 through 2016. The average rate of debt accumulation from 2017 through 2020 is about 3.39 times (5.39% ÷ 1.59% = 3.38994 = 3.39 times) lower than the average accumulation rate from 2013 through 2016. Although total national expenditure for the current financial year is expected to increase to commensurate with the increasing cost of fighting the COVID-19 pandemic, the economy is projected to record the second-lowest percentage point increase (0.45%) in accumulated debt relative to GDP since 2013. This affirms effective management of the Ghanaian economy in the last four years; and the institution of prudent and pragmatic measures to mitigate foreseen and unforeseen economic shocks.

The relatively low percentage points increase in accumulated national debt from 2017 through 2020 could be attributed largely to the debt re-profiling strategy adapted and implemented by current managers of the Ghanaian economy. Debt re-profiling has resulted in extended payment periods, reduction in interest rates and interest charges; and an overall decrease in total national debt.

Ghana’s accumulated debt-to-GDP ratio for 2019 was estimated at 63.01%. Some economic pundits consider this ratio to be high. However, it compared favourably with debt-to-GDP ratios recorded by the following advanced, emerging, and developing economies during the period: Japan 238%; Greece 177%; Lebanon 151%; Italy 135%; Singapore 126%; Cape Verde 124%; Portugal 118%; Angola 111%; Mozambique 109%; United States 107%; Djibouti 104%; France 98.1%; Cyprus and Spain 95.5%; Egypt 90.0%; Canada 89.7%; Gambia 81.8%; United Kingdom 80.7%; Mauritania 79%; Brazil 75.79 %; Sao Tome and Principe 73.1%; India 69.62%; and Tunisia 71.4%. All else held constant, the debt-to-GDP ratios for most of the foregoing economies, including Ghana are likely to increase while growth may blip at the end of the current financial year. For instance, total debts of the United Kingdom in 2020 are projected to surge while economic growth during the period is expected to slump by about 10%. The initial growth target of 6.5% for the Ghanaian economy has been reviewed downward to 1.5% while the Chinese economy is projected to contract by 42%.

As noted elsewhere, the full effects of COVIOD-19 on the Ghanaian economy are yet to be felt. This notwithstanding, there is no gainsaying the salient and carefully-thought-through measures and policies put in place by the current managers of the Ghanaian economy are yielding positive dividends; these measures and policies are strong contributing factors to Ghana’s “controlled” expenditure in the midst of the deadly COVID-19 pandemic. But for stringent measures, Ghana’s total spending in the wake of COVID-19 would have spiraled to uncontrollable limits.

The effect of COVID-19 on global economies including Ghana in the current financial year is portentous. As a result, the nation’s economic trajectory cannot be focused essentially on lower fiscal deficit and debt financing as growing expenditures in the wake of COVID-19 are met with falling revenues. Advanced, emerging, and developing economies such as the United States, China, United Kingdom, Brazil, and Tunisia, among others, are equally compelled by the pandemic to engage in deficit financing. In perilous socio-economic times such as this, it is incumbent on national leaders to implement measures that would assure lives and livelihoods of their respective citizens and other inhabitants therein; the emphasis in the immediate-term is not on lower deficits and debts.

The writer, Ebenezer Ashley (Dr), is a Chartered Economist/Business Consultant.

Nigeria to bar flights from countries that block Nigerians – Minister

August 24, 2020

Aviation-Minister-Sirika-Clears — Photo: Aviation Minister, Hadi Sirika. Credit: Africa Daily News

Nigeria will block flights from countries that do not allow Nigerian flights to land due to coronavirus restrictions, Aviation Minister, Hadi Sirika said on Thursday.

“The principle of reciprocity will be applied,” Sirika told reporters. “If you ban us from coming to your country, the same will apply the other way.”

A spokesman for the minister said Sirika was referring to landing rights for aircraft, and not the nationals of the countries.

The director-general of the Nigerian Civil Aviation Authority said that authorities were still drafting the list, but added that the European Union was among those barring Nigerians.

Nigeria earlier this week announced plans to resume international flights on Aug. 29. All but essential international flights were halted in late March in an attempt to stem the spread of the virus.

The resumption will begin with four flights daily coming into both Lagos and Abuja, but Sirika said that initially the number of passengers would be limited to 1,280 a day.

Nigeria has 50,488 confirmed cases of COVID-19 and has recorded 985 deaths.

…revenue rose in July boosted by oil and tax receipts

Nigeria’s gross revenues rose to 676.41 billion naira in July from 653.35 billion naira in June due to higher crude oil sales and tax receipts, accountant general Ahmed Idris said.

The price of oil, Nigeria’s main export, fell sharply early this year as the coronavirus outbreak hit demand, cutting government revenues, weakening the naira and creating a large financing gap for the country.

The global oil benchmark Brent has since recovered from a 21-year low below $16 in April. OPEC member Nigeria relies on crude oil sales for two-thirds of government revenue.

The government said oil revenues with sales tax increased in July, while corporate taxes and import duty decreased. The government also said the balance on its oil surplus savings account stood at $72.41 million as at Aug. 19.

Income from crude sales and value-added tax (VAT) made up the bulk of the government’s gross revenues.

Companies in Nigeria have seen profits slump, especially in the second quarter when the government imposed a lockdown to slow the spread of the virus. Also, restrictions on international travel and dollar shortages have hurt imports.

In February, Nigeria increased VAT to 7.5% from 5% to boost revenues, seen among the lowest in the world. Lower government revenues could worsen Nigeria’s debt to revenue ratio this year.

Reuters

Kodwo Manuel’s thoughts: Developing customer insights: the truth is in the data

August 20, 2020

Today’s world has been dubbed appropriately as the age of the customer. As a business your, engagement with customers, if properly managed can bring immense benefits to your planning process. By learning the behaviours of your customer at your touch points during their journeys, you will develop great insights to enable you to plan and design great experiences for them. Apply data science techniques to data derived from customer activities (by consent) and leverage opportunities to enhance your ability to empathise with your customer, and be empowered to address their concerns more succinctly than your competitors. This should be the quest of any business that seeks growth and sustainability within the context of our current enigmatic business environment.

The role of technology

This process has been made easier with the use of technology, hence available software such as Qualtrics and Tableau are used by firms to capture and act on customer, product, brand and employee experience insights to intuitively develop customer empathy. Amazon has used this strategy to good effect. By combining a google-like functionality they enable you to evaluate such things as customer reviews, price, and availability thus offering the customer a wide berth in terms of product choices. For example, if you were looking to buy a router to speed up your internet connectivity you will be able to sort by connectivity type (wireless or cable) based on your preference and even compare speeds and pricing to make informed decisions. Furthermore, they provide you the ability to learn how the product meets your needs by reviewing customer feedback and product ratings. How about the fact that your Amazon account is so personalized that in your next visit to their site, based on your buying habits, they can provide you suggestions on your possible buying options.

Fundamentally, what you need to mine data efficiently is data. At the basic level data refers to numbers, text, video, and audio. To mine this data you need a system that allows you to collect a large pool to extract what is most valuable to you. Data mining is essentially the analysis of large pools of data to find patterns and rules that can be used to guide decision making and predict future behaviour. Not having accurate data can be debilitating to any business. Your constraints could range from a high error rate to time inefficiency. Conversely, using the right technologies and toolkit you potentially improve your data accuracy and timeliness in accessing and applying the information to relevant business scenarios, therefore as a consequence, your decision making is significantly improved. Intelligent data mining projects produce excellent results.

To understand the importance of data mining in everyday life, let us observe a few common scenarios. In a typical store, the benefit of mined data allows you to ask the store attendant, ‘how many of these items remain in our store? Which colours in our stock go faster? Which item categories sell the fastest?’ How about this pattern identified by phone companies; They have been able to determine for example that customers who call three times or more on an issue are likely to leave you if their issue remains unresolved. The technician from your internet supplier who comes to you and offers you a little extra to ease your pain and ends up persuading you to change your mind from switching to a competitor is probably acting in response to feedback from data analysis. The goal is to use data science in the areas of importance to an organisation’s mission to optimize operations and bring down the cost of goods.

Applying data science

Organisations in the logistics space are using data science to develop a better understanding of their customers. By analyzing customer data regularly, they can measure metrics that inform on such critical issues as churn rate, customer loyalty, and product or service profiles. The business value here is in the capability to generate customer profiles based on buying patterns, store visits, off-loading times, and fuel consumption. A case study in Kenya offers a great example of how data science can be a potential trigger for your customer engagement strategy, and by inference customer experience. It is not easy to manage a customer base of 25 million and determine their behaviours accurately, however they discovered an interesting pattern from analyzing their data.

It was this, that customers using their version of mobile money (M-PESA), showed an interesting trend, which helped them in the decision to introduce an overdraft service to make the customer’s life easier. They concluded that although there were numerous cancellations due to insufficient funds, 58% of customers completed their transactions within 2 days. Hence the introduction of a mobile overdraft service. To make the service more accessible to the average Kenyan, they would use a local term, fuliza M-PESA. The ability to predict events of this nature paved the way for businesses to deliver differentiated customer-centric services. Evidently this model is replicated variously in our local telecom space.

The scope to leverage data for business value knows no limits. The key is to think small and start using pieces of data to support the customer’s interaction with your company. According to Jonathan Carter, a renowned data artist, there are opportunities for you to create legally and ethically compliant ‘storyboards’, for how data and marketing technology can be used to develop and deliver sustainable trust, value, and control to both the customer and the brand. He opines further, ‘there is no getting away from the need to move towards a comprehensive and connected view of your customer data’. Your understanding at an individual level of how your customers are behaving across both ‘brick and mortar’ (traditional off-line businesses) and, increasingly the direct and indirect digital landscape, where customers are constantly exploring and interacting with your brand and services, present you the opportunity to sense and respond to their interactions at the moment. Your access to huge amounts of (consensual) customer data empowers you to recognize where you can drive value for customers and prospects. You generate profits ultimately by acquiring a thorough customer transaction history and using that information to tailor offers to them.

Data manipulation

Getting your data from the right sources and having the capability to harness it efficiently will leapfrog your business fortunes amazingly. To begin with, having a fully functional website is key to developing customer insights for your business. Additionally, you get to understand your business stakeholders by using scraping techniques (the act of extracting data or information from websites with or without the consent of the website owner), to collect data from structured and unstructured sources. You can complement this by applying techniques like sentiment analysis (the interpretation and classification of emotions – positive, negative and neutral – within text data using text analysis techniques) to find out what the stakeholders think about you and what strategic or operational steps you can take to improve your services and products. Having online presence can be a very effective addition to your marketing strategy.

A couple of years ago I met a Briton on my flight to Ghana. He was an army veteran, had just retired, and was looking for some adventure. We got talking on our connection from Amsterdam to Accra, as it turned out the decision to come to Ghana was a random one. He had never been to Africa, so I got curious about why Ghana was his choice. Well according to him he was researching online for hotel accommodation and was also interested in additional offerings for him to travel around and get to see places of interest. Well this hotel (can’t remember which one) in Elmina, offered him all that and assured him of a pick-up from the Airport to Elmina on his arrival. Should this hotel invest in a well thought out digital strategy, its scope for customer acquisition will be GLOBAL! Clearly, the creative use of data will potentially turn the fortunes of that business on its head.

Understanding the customer as revealed by the data you acquire (by consent) through your touchpoint interactions, will enhance your capacity to generate business intelligence and insights of competitive value. This will help you make better decisions encompassing the needs of your internal and external customers. These could range from product packaging, pricing, and beyond while serving your customers’ changing needs. Note this caveat, that the data on its own will not tell you the full story. What you need is to develop a customer-centric mix where your focus on data, complemented with carefully designed processes and customer empathy resonates. Also worthy of note is that in this era of a (disruptive) technology revolution, by adapting deliberate strategies of growing your digital marketing strategy, your ability to learn about the customer to ultimately leapfrog your business performance is an opportunity you must not compromise. Test and learn to see how to use customer information, but expect customers to be learning and changing their behaviour too.

The Writer is the Managing Consultant at Capability Trust Limited a People and Learning Organisation. He can be reached on 059 175 7205, [email protected] .

DreamOval launches Remittance Service, Billbox Remit, with funding from the Remittance Grant Facility (RGF)

August 18, 2020

On Tuesday, 11th August 2020, DreamOval, with funding from RGF, organised a virtual launch of Bilbox Remit, a remittance technology solution that facilitates simple and easy remittances.

Billbox Remit empowers financial institutions like banks and mobile money networks with a best-in-class remittance solution that terminates to accounts and wallets. The solution is designed to plug-in easily into any remittance company in the world who seeks to expand its presence across Africa. With in-built anti-money laundering, globally recognized sanction screening and real-time KYC verification algorithms, Billbox Remit helps ensure the right money gets to the right people.

In a remark at the event, Claud Hutchful, CEO of DreamOval Ltd said,

“In 2017, according to the World Bank, remittances contributed approximately 6% to Ghana’s GDP. Dreamoval Limited is proud to have participated in the Remittance Grant Facility challenge to facilitate the flow of remittances through formal channels to underserved Ghanaians.

Dreamoval is a technology company created in 2007 that specialises in financial transactions in Africa and processes millions of transactions annually. The Fintech company works with major financial institutions, government agencies, and merchants to simplify payments and provide a single hub to streamline collections through all various payment channels. With an ultimate vision to harness the power of technology in becoming the largest financial processor of payments in Africa, DreamOval churns out solutions to help customers reduce cash related issues, and accept payment from more sources. Billbox Remit will also have a presence in the other countries DreamOval operates – Zimbabwe and Cote d’Ivoire.

The Remittance Grant Facility (RGF) is a challenge fund established by the Government of Ghana and Switzerland. RGF is financed by Switzerland through the State Secretariat for Economic Affairs (SECO) and managed by KPMG International Development Advisory Services (IDAS).

The overall aim of the RGF is to facilitate the flow of remittances through formal channels to non-banked, under-banked and rural Ghanaians. In the process, it will enhance the impact of remittances on economic growth and poverty reduction. In the long term, the RGF will lead to increased economic growth and a better standard of life for underserved households through more efficient use of remittances. The project also has the potential to introduce new, technologically advanced and replicable business models in the remittance industry in Ghana – in ways that make it cheaper to send money and much more widely available to people.

The event was attended digitally by reps from DreamOval, Stanbic Bank, RGF, KPMG, Fintechs and Banks with a total of 125 top financial executive participants.

Statistics source – Percentage of remittance contribution to Ghana GDP: https://tradingeconomics.com/ghana/remittance-inflows-to-gdp-percent-wb-data.html

You are a Godsend – Chief tells Prof. Opoku-Agyemang

August 17, 2020

Prof. Opoku-Agyemang 2 — Prof. Opoku-Agyemang

The Paramount Chief of Kusaug Traditional Area in the Upper East Region, Zug-Raan Asigri Abugrago Azoka II, has described Professor Jane Naana Opoku-Agyemang, running mate of the National Democratic Congress (NDC), as a blessing for the progress of the country.

According to the traditional leader, Prof. Opoku-Agyemang’s decent character and focus on issues would impact positively on Ghana’s political environment and development agenda.

He made the observation when he welcomed the NDC running mate and her entourage to his palace as part of her tour of the region.

“We have not had rain for a long time and our crops are dying, but you’re coming here has brought rain and it has meaning,” Zug-Raan Asigri Abugrago Azoka II, remarked.

Decrying the acrimonious nature of the political environment in the country, the paramount chief expressed confidence that the inclusion of the former Minister for Education in the political contest as a running mate would make the electioneering campaign more focused on national development.

He commended Prof. Opoku-Agyemang for accepting the running mate role and urged her to maintain the decency she has exhibited in politics so far, noting that the conduct of a clean campaign was critical to maintaining peace in the country.

In a related development, the NDC running mate arrived in Zebilla to a rousing welcome from residents in the town. The chief of the town, Naba Abilia Belwin, praised the running mate for her peaceful character, an attribute he said would help address the politics of insults in the country.

Professor Opoku-Agyemang assured both traditional leaders of the NDC’s commitment to an issue-based campaign, solely influenced by a manifesto the party will implement to save Ghanaians from the present socio-economic difficulties in the country.

She thanked the chiefs for their show of support, adding that the NDC was counting on them to return to power to do more for the advancement of their communities.

The running mate was accompanied by Mr. Alex Segbefia, a former Minister for Health and Deputy Campaign Manager of the party for the 2020 elections, Hon. Samuel Okudzeto Ablakwa, Member of Parliament (MP) for North Tongu, and Ms. Emelia Authur, a former Deputy Western Regional Minister.

Other members of the team included Mrs. Mawuena Trebarh, Spokesperson and Head of Communications for the Office of the NDC Vice-Presidential Candidate, Hon. Isaac Adongo, MP for Bolgatanga Central, Hon. Lardi Ayii Ayamba, MP for Pusiga, Mrs. Maame Efua Houadjeto Deputy National Women’s Organiser, and regional party executives.

Female workers to enjoy 4-month maternity leave under NDC

August 17, 2020

The next National Democratic Congress (NDC) government will institute a four-month maternity leave system for Ghanaian workers, says Professor Naana Jane Opoku-Agyemang, Vice Presidential Candidate of the NDC.

The move, the running mate to John Mahama explained, is to provide enough time for working mothers to recover fully after childbirth and have enough time to take care of their new borns, as well as organise themselves properly before returning to work.

“Giving four months of maternity leave to women is in order,” the running mate stated.

Providing glimpses of the policy interventions in the soon-to-be-launched NDC manifesto, during an interaction with leaders of professional bodies and unions in Bolgatanga in the Upper East Region, as part her campaign tour of the region, said the increase in the maternity leave period is in response to research-based concerns which indicate that the three months provided to mothers is insufficient.

Section 57(1) of Ghana’s Labour Act 2003, Act 651 stipulates that “A woman worker, on the production of a medical certificate issued by a medical practitioner or a midwife indicating the expected date of her confinement, is entitled to a period of maternity leave of at least twelve weeks in addition to any period of annual leave she is entitled after her period of confinement.”

Although the labour law does not limit the leave period to 12weeks (three months). the three-month period has become the general practice in Ghana.

But taking into consideration the need for lactating mothers to return to work in good health to perform productively, Prof. Opoku-Agyemang, says the NDC will make it a mandatory four-month maternity leave period.

“Our manifesto is of a different nature this time,” she said, adding that there are innovative policies that would enable the NDC government to build on its enviable achievements and do more for workers.

In addition, the Vice-Presidential candidate said the new policy programmes in the manifesto, designed to enable Ghanaians to achieve their aspirations, has incorporated the views of the various worker unions and professional groups, as a measure to ensure all-inclusive governance.

“We need to work together by listening to each other. We need to be non-discriminatory, we need to plan together,” she said.

President Akufo-Addo hints at Sept. reopening of borders

August 16, 2020

Kotoka International Airport opens today

The President, Nana Addo Dankwa Akufo-Addo, has assured that the government is working to enhance the capabilities of testing all travelers who arrive in the country on the reopening of the borders.

However, he noted that the country is in no hurry to reopen the closed borders while hinting a possibility in September, next month.

Currently, the Ministry of Aviation, the Ghana Civil Aviation and the Ghana Airports Company Limited, according to the President, have been working with the Ministry of Health and its agencies “to ascertain our readiness to reopen our airport.”

The President, who was addressing the nation during his 15th COVID-19 update, also disclosed that the Ministry of Education and the Ghana Education Service (GES) continue to engage stakeholders over the possible reopening of schools.

He indicated that in due time any decision taken would be made public.

Useless Column: University PTA chairman

August 16, 2020

Mawuli Zogbenu, Useless Column — Mawuli Zogbenu

Temperature is the instrument used in measuring thermometer. True or False? Now go back and look at the question again. Hahaaaa! Oh how I miss those days when the thermometer is put inside my armpit to check my temperature by a beautiful nurse. As a small boy, the nurses used to see me as not a ‘serious’ sick person anytime they tried to put it in my armpit because I would start laughing in joy as if to accept it and as if not to but at the same time avoiding it and craving for more of it. At least it was better than chloroquine.

Ei! Chloroquine those days was something else. My doctor would ask whether I was allergic to chloroquine or not. When I answered YES, he would still go ahead and give me chloroquine injection. Those were the days we used to fight ourselves. When your stomach top would be itching you and you would try to scratch. As you did, that was when you felt like visiting the washroom and at the washroom, the ‘exit point’ will bite and itch hard while in the process. Torn between two devils – to scratch and scoop something and not to scratch and faint from itches everywhere! Alla! Chloroquine in the 80’s? Hmmm!

Do you know that when you talk about sexually explicit things before your children, chances are that some other fathers would represent you at PTA meetings at the university?

See, anytime you are in town and complain that the traffic in town is terrible, remember you are contributing to the traffic; every other motorist or commuter in the traffic has the same complaints! I dey lie?

As I was not saying, anytime I am about to start my car engine, I brake down and push start and then vroooom…away! I once noticed that my little girls were also struggling to start the engine by push-starting. Anytime they did, it did not start. Apparently they didn’t know that without braking down, the push-start alone wouldn’t work. One day, I left these little kids and the car key in the car with the engine off. Then I heard the engine start…vroom! Whaaat! Confused was I. Still amazed, I’d wanted to observe in a reasonable distance how they managed to start the engine because to the best of my knowledge, their legs could not reach the brake pedal. Then I got closer only to see the 5-year old using her hand to press the brake and asking the two-year-old to press the push-start button and she did…voila! The engine was on.

I opened my mouth in awe but must I? Not really. What I immediately imagined was that one day they could put this car into motion and then when the undesirable happens (God forbid) I would be the first to blame them or?

Children observe and live by what adults do before them and emulate. If you use abusive language as an elderly person in the comfort of your home, trust me, chances are that your children may get out there and do same or even worse with another elderly person and will think it’s fine to do so. Na who cause am? Just listen to some radio and you would understand the ‘language of the language’!

We are often quick to say today’s children are indisciplined. True, but…are they entirely to blame when we are the ones giving them ‘training’ in our various homes? I am tempted to advise myself to watch the way I talk about our elders at whichever level including the church when I am with my children. We run commentaries about personalities in society including our neighbours based on A, B, C and D and expect the children to do otherwise! The children are listening and watching our commentaries too. Is it not possible to trace the root cause to our generation and not necessarily theirs all the time? Sadly, ‘present posterity’ is not judging us for not guiding them well with our utterances and actions but ironically we are the ones judging them by what we have directly or indirectly taught them and they are practising it.

Let’s mark it, it won’t be long and we would realise that, we, the supposed ‘disciplined generation’ are indeed the root cause. Is it difficult to conjecture why a 10-year old has won a kids’ competition because she has the ‘talent’ of giving commentary the same way adults give sports commentary? That is on the positive side. You don’t say ‘Satan’ and expect ‘Jesus’ to appear! Nope! We say nasty things about people in the presence of our children, by way of our adult reasoning based on various lines of biases; the children are listening and would replicate it. It won’t be long and you would hear them passing the same comments and remarks about other people older than their fathers and mothers and feel good about it. Mama Awony3, is it necessary to remind us that children learn by observing and by the examples we set?

It is often said that ‘If you always defend your children’s mistakes, one day you will hire a lawyer to defend their crime’. Now it looks like it’s getting to that point where our children may have to hire lawyers to defend our ‘crime’ because many of us talk and do things loosely about some personalities in the presence of these children! They shouldn’t copy? Oh, Bra Yaw! How?

I remember the day a parent pushed her 5 or 6-year-old daughter to jump a queue in front of me at a shop and this parent did not see anything wrong with it. Hmmm! That girl may grow up and may have the tendency to cheat in whatever form and think it’s her right to do so! Lord God have mercy on, not only our children o but parents too!

I know some parents are insulting me in their heads by now but that is my conviction that we bred this current generation. Only God knows the ones they would breed! Many say and do the wrong things before them and expect them to do the right things! How? Let’s remember we are as good as the current generation!

Anyway, that’s just by the useful way. Now let’s go ‘useless’ small with my abstract…hahahahahahaha!

Following my useless column article last weekend, some of my friends are advising me to advocate PTA meetings to be organized in universities. The reason is that it is only there that, all things being equal, you would have more 18-year-olds plus who are independent in their halls and hostels of residence. Some fathers would comply fully with face masks and even add head masks and leave some small space for their eyes so they don’t get easily identified. It will be easy to say it’s double protection against COVID-19 but it’s a lie o. I will let them remove the top one p333.

I am also sure that if it so happens, the number of fathers who will attend such PTA meetings will be more than the female populations of the universities because the possibility of 4 fathers attending one PTA meeting in respect of one innocent lady at the university is high so there is the likely ratio of 4 mystery fathers to one ‘innocent daughter’.

Truly, the real fathers would not attend the meetings in the universities where their daughters are. They would also go and represent some other fathers who are attending the PTA meetings of their actual daughters in some other universities.

While some of us will head towards the University of Kasowa, others will be on their way to Universities of Tema and Madina. Exchange is no robbery, after all! Just make sure your wives don’t see the notification messages to you inviting you to a PTA meeting of ‘your daughter’ who is not known to her or else…chaos!

Please remember to send provisions like cars, eye phones and millo because whatever you send to your ‘daughter’ after a PTA meeting, will be the same some other may be sending to your daughter in the other university. The law of karma and equality; you offer a gift to a stranger and your own relation will be taken care of elsewhere. If you don’t, your guess is as bad as mine!

I propose such PTA meetings to take place Friday nights into Saturday so some of us can hide!

Tsofats3, as you are hiding somewhere behind your house making such romantic calls to young ladies, your daughter at the university is eavesdropping. Worse still if she has access to your WhatsApp messages. She will not tell your wife about it; she may feel justified and find solace in the arms of a man as old as you are!

Remember as sin fascinates and assassinates, it is the reason it thrives better in darkness! Don’t think about it; just sin! Hell is right here waiting for you and I!

Happy new year!

Serenade with Theodore Dzeble: Ode to Doris

August 16, 2020

“Her mind was as free as a nimble bird, and she insisted that her students think outside the box on all occasions. But she was also positively bullish, and innately resistant to behaviors that represented oppression, or subjugation of the mind or the spirit. Any time she confronted such negative behaviors, the lion in her would roar!”

I spoke to Doris a little over a week before she breathed her last. I had not been in touch with her in a while so I texted her in my usual expressive, boyish manner, hoping she would pamper me again as was the tradition of our exchanges.

But when I received no response from her, I texted her again, for it was not in her nature to ignore my notifications. I was positively stubborn in my dealings with her, for she was like a doting mother to me, a spoilt, old child. I ran to her each time I was in need of any form of reassurance or upliftment of mind or spirit. And this was precisely the subject of my communication, which turned out to be our last encounter.

This time she responded, again and again, insinuating how unwell she had been, how relentlessly she had been battling breast cancer, and hoping to overcome this demon again as she did a couple of years ago when this enemy of God first manifested against her body in ferocity and violence.

The tables were now turned, and I became the giver of hope, for I encouraged her to keep her trust in God, trust in his healing balm and await deliverance from Mount Zion. For I was confident she would soon leave her sick bed. If anyone had the grit and spirit to overcome this affliction, it got to be Doris.

But like many others before her, Doris succumbed to the disease, and now nothing but tears fill my eyes upon the remembrance of one of the closest professional friends and mentors I ever had.

I met Doris Yaa Dartey during my student days at the University of Ghana’s School of Communication Studies. She had returned to Ghana from the United States where she sojourned for many years. Her determination to give something back to this country inspired her return to the land of her birth to take up a teaching appointment at the School.

It was clear Doris was a unique breed of the female specie, for she presented her lessons in an interactive, free-for-all, all-inclusive, exuberantly buoyant style that was not only quite breathtaking but represented her personality and doctrine of life.

Her mind was as free as a nimble bird, and she insisted that her students think outside the box on all occasions. But she was also positively bullish, and innately resistant to behaviors that represented oppression, or subjugation of the mind or body in any form. Any time she confronted such negative behaviors, the lion in her would roar!

Doris was a bubble of life, determination, spirit, fight, and all that is admirable in resilient, expressive, confident, self-made women. It was impossible to notice in her the very quintessential academic and professional, who not only accommodated and over-indulged her students but treated them as equals and friends.

Doris and I teamed up to do a few projects together ─ the student and his mentor sharing a common professional platform as co-equals! Such extravagances of illogicality exist only in the liberal world of the late Dr. Doris Yaa Dartey!

“Irreplaceable,” that’s who you are! Your addition to the company of heaven should bring no small titillation to that company.

This is Leadership: Leadership blunders

August 16, 2020

If management can’t trust you with one pesewa, management won’t trust you with one cedi

This bite brings out some of the myths in leadership and even some of the bloopers we commit unconsciously, subconsciously and even consciously at the workplace. You often hear this at the workplace: ‘when I get to the top’.

Unfortunately, some don’t get to the top and some may not get to the top (obviously not with such an attitude). The good books mention that it is good for a man to live for at least three scores and a ten. This should be God’s plan, but remember that man is never guaranteed seventy years on earth.

To the point, you are not guaranteed to get to the top. In other words, if you fail to unleash your potential now, you may leave without exhibiting your talents. Honestly, I’d wanted to write this book at age seventy. But for the same reason, I chose to publish now.

I just want you to start thinking, acting and subsequently contributing to the workplace as though you are at the top because you are where you are working towards where you want to be. A middle-level manager in an acting role was invited for an engagement to justify why she can fill in the substantive position as Head of Quality Service.

She said, and I quote: ‘Sir! There’s a lot I can do but just that I have not been confirmed as the Head of this sensitive Strategic Business support unit yet’. So I asked: what is that burning desire in you to put yourself up for this sensitive ‘vacancy’? She confidently voiced: ‘just make me the Head of Quality Service and poor quality service delivery in our bank shall be a thing of the past. In my mind, I said: NIMBY (not in my backyard).

Colleagues who speak and act like: ‘when I get to the top’, would have been doing everything ‘right’ to get to the top. I mean politics. But their posture reads, ‘I won’t do it until I get to the top’. So the bite asks, what are you waiting for? Say it, do it and act it now.

Some of us don’t get it. May be your ‘top’ is now. You should always be on top. When you are on top of your role, it is always easy to get to the next ladder on your way to the top. The workplace always promotes people who are already on top of their tasks and are on their way to the top. Don’t get used to the chant: ‘when I get to the top’. Always motivate self and push 101%. Ask of the targets and ask of the vision and excel. In my career, I never asked for anything. All I needed from my Line Manager was to just show me the vision. I need no promises. I always wore the CEO hat from my officer days to date.

This leadership myth of ‘when I get to the top, I’ll give my all’ must be slaughtered and buried in the abyss of the deep soils. Folks, if management can’t trust you with one pesewa, management won’t trust you with one cedi. We are the ones to promote ourselves. You cannot get to the top if you don’t start thinking as you belong to the top. Given the chance, the support, requisite training, good background and logistics, everyone can be a good employee. What will make you a better employee is to accept additional responsibilities and also getting out of the myth: ‘when I get to the top’. Be on top now. Think and act like a leader, now.

Another blooper in leadership is to have the view that, I am a manager and therefore I am a leader. It’s not always the case. My kind regrets. If you refer to the extracts from the previous bites it’s obvious that you can be a manager and become a loner, and not a leader. This is simple. Leaders get their mandate from their followers. Without a follower, you cannot call yourself a leader.

Grasp this straight. You do not have to wear the Leader’s hat before you start leading. Start leading from your desk. The word is influence. Nothing more, nothing less- John C. Maxwell hinted. Nurture influence through competence, at the workplace. Learn more and accept bigger responsibilities, show interest in your colleagues’ deliveries and deliverables and think through the ARAR- Authority, Responsibility, Accountability and Rewards.

This myth of placing a manager on the same pedestal with a leader appears worrying sometimes. This is because management and colleagues always want to see a manager leading. Here is the point, management and colleagues should not expect much. Expect the manager to manage perfectly.

Then, expect the leader to also lead. Folks, never be pushy in demanding that a manager must categorically be a leader. If he does, he may be leading without followers. Leaders would want their followers to know as much as they know. A manager may not. The world has few leaders but many managers.

In actual fact, the team should be delivering because the team has learnt and therefore know what to do in the absence of the leader. In effect, a leader reproduces his kind. In the absence of the leader, there should be many leaders who at any point in time, think like the leader. This is a mark of a living organization, where training and development run through the organizational setup. A leader must learn to die empty. Knowledge transfer must be a hobby for a leader.

The thinking, training and development process must, however, be natural with free-flowing but controlled information and education at any time. Unlike processes, procedures, regulations and equipping teams with technical proficiencies, the leadership thinking process should not be enforced. You must not also write it off when some followers push up to be leaders when their time is not up yet.

Create an incubation school to groom and incubate confident leaders. This is a mark of learning organizations. It’s important to do so to manage the expectation of highflying employees. It is good for teams to see the bigger picture to enable them to imagine themselves in the big frame. Paint the picture big. Paint the picture clear. Be careful however not to push your team to think and do things exactly like you do or else you’ll be raising young politicians and not professionals.

Allow teams to think differently as you align their thoughts, positively. There’s knowledge in putting together diverse opinions. Thinking like leaders should be natural or else the workplace will be breeding boot-licking half-baked micro-waved leaders, seeking favours and not working.

Avoiding the leadership bloopers, slipups and myths and subsequently forging ahead to be that great leader, I urge you not to say, ‘when I get to the top’. Just do what you would have done if you were at the top and you’ll be amazed how soon you actually get to the top. Don’t quit. Just do it. You may never know how close you are to the top. The top is actually nowhere. The top is where you are now. Own it. Be on top of your game and be consistent with your delivery. This is the way to the top.

Sentenced to death by inadequate of representation

August 16, 2020

The story of Bomet, a 14-year-old Kenyan girl who killed herself after she was shamed in school

for staining her uniform with her menstrual blood shocked the globe. Bomet’s story reminded me

of a story about a 16-year-old girl I met on an outreach program organized by the Girls Excellence Movement.

She admits to having sex with a 54-year-old man in exchange for four months’ supply of sanitary pad. This needless hardship exists in most African countries because menstrual hygiene products are classified as luxury products and heavily taxed.

I argue little Bomet who killed herself and girls like her are sentenced to pointless hardship and eventual death by inadequate female representation rather than poverty. For example, Ghana’s Revenue System classifies sanitary pads as a luxury import and levy a 20 percent tax making the commodity expensive and inaccessible for women and girls in deprived communities for years regardless of opposition to the tax.

Interestingly, Ghana imposed a 9 percent Luxury Vehicle tax to control the importation of vehicles with high capacity engines, but that tax was eliminated when a few people, mostly men, spoke against it. Isn’t it a wonder that a huge tax on a monthly necessity is firmly in place while a comparably minimal tax on an irregular status choice was scrapped within a year in favor of mostly men, who are usually the average and high-income earners? Would menstrual hygiene products be taxed if men were the users? Of course not, as Zoe Salzman, an attorney for the in New York City pink tax advocates said “There is no way these products would be taxed if men had to use them” And I dare say, with the same logic, that the luxury tax on menstrual hygiene products in Ghana would have been repelled by now if there were more women in government with decision making powers.

Women form about 51% of the population but have only 13% representation in parliament. Again, women and girls between the average ages of 12-40, forming about 30% of Ghana’s Population who are mostly minimum wage (10.6 cedis daily, equivalent to 1.94usd) earners are taxed for performing nature’s duty, being taxed for bleeding monthly, is like being taxed for breathing or urinating, while products like viagra and condoms are exempted for use by men? As unemployment and the gender pay gap increases among women, especially in this COVID-19 era, the adverse effect is glare. A study by AC Nielson titled “Sanitary Protection: Every Woman’s Health Right” found “the biggest barrier to using a sanitary napkin is affordability. Around 70% of women in India say their family can’t afford to buy them” and same can be said of Ghana as the “taxation of menstrual products has intensified menstruation stigma and has been especially “punishing to girls from low-income homes who have been reported to miss school during their period because they cannot afford menstrual products,” reported African Exponent

The menstrual products tax makes the commodity exclusive to an extent. It is estimated that more than 2 million girls in Ghana need support in order to get menstrual hygiene products. This lack of access created by this tax leads to an increase in infections and sexual reproductive issues; an increase in sexually transmitted diseases; an increase in rape and domestic violence incidents; and ultimately, an increase in deaths due to the shame associated with menstruation since the mortifying effect of staining one’s dress in school coupled with the cultural implications of menstruation hurts the overall mental health of girls. In Kenya, a report by the United Nations Population Fund (UNFPA) found that “schoolgirls engage in transactional sex to pay for menstrual products, particularly for the younger, uneducated, economically-dependent girls.” A field report by GEM in 2018 revealed a similar trend in some schools visited within the Volta, Greater Accra and Eastern Regions of Ghana, where a significant percentage of the girls opened up to the Mentors, about exchanging sex for as low as 20 Ghana Cedis, (equivalent to less than 4 dollars) to buy a sanitary pad, and soap to wash their underwear during menses.

Despite the glaring effects, Governments over the years turned a blind eye, disregarding calls from civil society to repeal the policy. Even when South Africa and Zambia have reviewed similar taxes and scholars including Christopher Cotropia, and Kyle Rozema have maintained in their studies “repealing menstrual product taxes removes an unequal tax burden and made menstrual hygiene products more accessible for low-income consumers” and outlined the impact on increased enrollment in school and an upturn in the academic performance of girls, Ghana’s pad tax is firmly in place, the many peripheral voices have not been heard nor headed to for years, probably because not enough women have voting rights or final decision-making clout in Cabinet, Parliament, as Ministers, on Boards, Councils, etc. This is one reason every appointment of a woman to any position of leadership in governance is worth applauding and celebrating.

Sadly, some argue the menstrual products tax was imposed to control the influx of foreign products which might cripple the local industry, the same reason given for the Luxury Vehicle tax, the irony is, Ghana has no local pad manufacturing industry just as we have no vehicle manufacturing industry. Others also argue Ghana needs the revenue from the taxes for development projects, if this is the case, then the Luxury Vehicle Tax is also needed for development, but of course the latter part of the argument is obviously not getting into Cabinet to influence policy. Where are the Women, to make a convincingly irrefutable case, like their male counterparts do in their numbers, to influence policy on issues that affects men directly? According to a study by the Aya Institute in 2018, women in Ghana hold 10% seat in Council of state, 21% in Cabinet, 13% in Parliament, while countries like Rwanda, Bolivia, Cuba have exceeded global female representation targets, Ghana still stands at a glum 13% far below the current world average of 23% and the African average of 24%.

From the discussion so far, would you agree there is a serious need to give women opportunities in leadership and even the tokens deserve a count? Would you agree society in its entirety stands to benefit more in all aspects if more woman voices are represented in Cabinet, Parliament and the Boardrooms? Would you also agree, such a move wouldn’t deprive men of anything? I have always held that, in giving women significantly representative number of seats at the table, Ghana would not only be achieving some of the targets of the UN Sustainable Development Goal 5, but such will be a strategic move towards a wide-ranging national development where everyone wins. All political parties are therefore encouraged to empower the women within their fold by appointing them to significant roles rather than the usual women organizer and related roles. Women can be full-blown party Flagbearers, Organizers, Secretaries and Chairpersons too. A resounding congratulations to Prof Naana Jane Opoku-Agyeman of Ghana and Ms. Kamala Harris of the United States for their appointment as flagbearers of two major parties in their respective countries, good luck at the polls in November and December respectively.

The question that still stands out is, if the government can be responsive to the voices of a few people and remove the luxury vehicle tax without hurting the economy, why has it proven so difficult for governments to remove the pad tax that is hurting a large percentage of its population? Would it be wrong to think the government was responsive because of the presence of more men at the table to make their case? Is the government still silent about pad tax because the voices of the 25% of women are constantly drowned by the jabs from the 75% dominant male voices? Would things be any different if women formed 50% of the voices in cabinet? With these obviously unanswered questions, I would not be exaggerating to conclude that little Bomet whose life was cut short and the many girls before her whose death are avoidable have been sentenced to death by inadequate representation rather than poverty.

Written by: Juliana Ama Kplorfia

Joint EMPA Student at NYU and UCL

Book Review: Bosiako: The Bloodbath

August 16, 2020

Author: Kingsley Kojo Antwi
Year of Publication: 2020
Reviewer: Elikem M. Aflakpui

When I got the manuscript of Bosiako: The Bloodbath to read for the purpose of this review, it did not come with the Preface, Introduction, Dedication, Acknowledgement, About the Author and About the Book pages which I could use to create any meaningful connection to the author – Kingsley Kojo Antwi.

There is an age-long conversation about whether an author/a writer can be separated from their books/writings. I belong to the school that thinks it is difficult to do so. There is always some personal connection to what people write. If it is not their reality, it definitely is their fantasy. I use fantasy here to represent the broad scope of our imaginations including aspirations, the things we dread and fear, nightmares and the likes.

Coming from this background, when I read a book, aside the content, I am interested in the person who wrote the book. I am fascinated by the story behind the book, the process of writing the book, the inspiration, the challenges and the journey to the final output. I am, therefore, very interested in pages of any book that precedes the main content. When I edited my first anthology, I did not add those pages to increase the size of the book.

I got the background to the book and the life of the author from Antwi’s Facebook post titled The Bosiako Story. In that post that was also used to mark thirty years of his life on earth and announce the completion of the manuscript, he talked about how he found poetry in a rather unexpected way.

Kingsley Kojo Antwi, Author of Bosiako: The Bloodbath

In his own words, “Ten years ago, when I was fighting the social stigma of failing at suicide, I discovered poetry, although I didn’t know it was poetry”. This sentence is so important to understand, appreciate and discuss Bosiako: The Bloodbath.

Surviving suicide changes a man. It gives him a new sense of awakening and new lenses to view life from. It makes the person very raw, very real. He shares his truth of about life without any care of how different it could be from another person’s. I think the strongest connection between the author’s brush with death and discovering poetry which he shares with us in his debut book is that one way or another, it means something to us, even if it isn’t our story.

The book contains thirty poems. Maybe the number has to do with his three decades on earth too. Antwi employs a narrative style for most of the poems in the book. This, in addition to the fact that it contains only thirty poems, makes one think it will be an easy and a quick read but you will find that it is not. Mostly free verses, from the first poem titled Bosiako to the last titled The End, the author gives you something to brood on that you would not be in a hurry to read the next poem.

The collection is not only rich in the author’s style but also in how he infuses interesting and relevant aspects of himself, his personal and ancestral history and culture and a bit of Ghanaian history in general. You will find references to Asaase Yaa, Asamando, Ntim Gyakari, Anansi Stories and Tano River nicely and relevantly placed in the poems. It is a plus that there are footnotes to explain these references to people who are not acquainted with the stories behind them.

I could not put a finger on a central theme that cuts across the book but it explores themes such as the beginning of life and the journey through it with hope and faith, relationships, love, romance, religion, identity and self-discovery, beauty, loss, success and failure to the end of life.

My personal favourite of the collection is A Table Turned. Here are the last four lines of it.

I saw death giving hope to a deserted life
This was freedom
This is what we prayed for
A table turned

My recommendation to make the reading experience better that the author tries to organize the poems under sub-themes so that it tells a better story. The first and last poems are nicely placed but at some point, it gets jumbled up. It would also be nice to add some background to each of the poems to help the reader appreciate them better.

Bosiako: The Bloodbath is a bold book. Not so many authors are able to bare themselves the way this one has. You will enjoy his journey through life and wish that he writes another book to catalogue his daily growth since after his last ten decades on this path of the scribe.

I definitely recommend this book to anyone who would like to enjoy some really good pieces of writing and literature.

Make room for the Tweens!

August 16, 2020

Words cannot describe my excitement at this opportunity to engage my favourite people in the world…Tweens!!!

So for the ‘uninitiated’, Tweens are people who are from age 9 through teens; that’s my definition and I am sticking to it.

I have noticed how, sadly, our media landscape has limited spaces for our Tweens to hear and be heard. Tweens have minds and opinions of their own and need a place where they can just be. Especially in these COVID-19 times where Tweens are stuck home either watching TV, learning off a gadget or stuffing their faces with foods they enjoy, they need an outlet. So, when B&FT gave me the opportunity to be that ‘outlet’, I didn’t even think twice about it; and here we are.

My career over the last 20 years has seen me engaging Tweens mostly; they have so much to offer. I daresay these 5 pointers I picked over the years have kept me in their space this long:

They are not ‘children’ – they have opinions and want to be heard and not sidelined with comments like, “oh you are only a child”, “you will understand when you grow”, etc
They want to be included in decision-making at home, especially regarding what they eat and wear, rather than having our choices rammed down their throats
They want to be given a reason for all the things we ask them to do or not to; “… because I said so” isn’t a good enough reason, they insist
They want us (parents, adults) to respect their spaces and privacy (within reasonable limits)
They want us to trust them (again, within reasonable limits)

Our Tweens are in a very competitive world, aka the 21^st century and are distracted by a plethora of media (social media not being the least) and an avalanche of (mis)information; wading through these whilst being a student can be weighty for them. They have access to information and gadgets that some of us only had when we started our first jobs! But one thing is for sure; they need guidance on how to use both information and resources to their advantage.

I met a 12-year-old in 2014 at my alma mater when I went back there to talk on life’s choices (I wouldn’t call it ‘career talk’ at this stage). She walked to me with five other girlfriends of hers after my talk; they looked satisfied with themselves, I thought. What could they have to say to me?

“Ms. Eugenia, thanks for your talk. I really enjoyed it,” she said smiling widely. I have scored with these Tweens, I smiled to myself.

“But I have a problem,” she interjected halfway through the group hug we all embraced in. “I want to be a fashion designer when I grow up and want to choose Arts subjects, but my parents wouldn’t let me.”

“Did they tell you why?” I asked, half-hoping they did.

“They said I should become a doctor instead as that pays more and is also more dignified”; she sounded miffed. I looked at her friends for some clue, something to work with; I got nothing.

How was I going to walk this tight rope to the end without making her parents seem unreasonable whilst also showing her to follow her passion; I was near petrified. I could picture it; her parents on the couch giving her the glare whilst she squares her shoulders defiantly, and muttering; “But Ms. Eugenia said ……”

“Your parents mean well,” I managed to say quickly. “Are you showing strong results in your Science subjects?”

“Yes, she replied. I actually enjoy them and always get top marks in class; I know I will excel in my BECEs.”

“This is awesome, then; so why don’t you want to become a doctor?” I quizzed

“Like you said in your speech to us, you have to follow your passion and mine is fashion.” Her heart was set on this fashion business and I wasn’t about to break her heart.

“Guess what?!” I said as I had a lightbulb moment. “How about you go ahead with the Sciences all the way through till you become the Doctor your parents want? They pay for your education so you must go along with their plans. But you can take fashion courses at any of these Fashion Colleges around us, whilst pursuing your Sciences.

You will become the Doctor who also has a fashion degree or the Fashion Designer with a Medical degree; either way, you would have two skills you can work with, one of them being your passion!”

”I never thought about it that way, Ms. Eugenia; thank you!!”, as she flung her slender arms around me and gave me the tightest hug ever, whilst her friends looked on. She wanted to be heard. And that’s not a lot to ask for, is it?

The writer is a passionate educator who makes learning fun for children under 18 through co-curricular programmes. Through her charity organisation, Young Educators Foundation (YEF) in Ghana, the programme’s portfolios have expanded to include literacy programmes in local languages as well as public speaking programmes for the youth.

Based on her work in education and with children, Eugenia is the recipient of many nomination and awards such as a presidential award for the contribution to education over the past decade in 2018. In 2019, she was named as one of the 74 individuals in Those who Inspire Ghana, a global programme that identifies nationals whose experiences are worth sharing.

Eugenia believes that children are not the ‘future’, but rather the ‘present’ and so the need to invest in their total development. She is a regular contributor on radio and television shows as well as various public fora on this and related topics.

LifeSense with Terry Mante: Letter to the uncalled

August 15, 2020

“The one who calls people into the pulpit is the same one who calls people outside the pulpit.”

“When are you going into ministry?” This is a question I often get asked by people in my circles who believe in my Christian witness. My answer often is this: “I am not going into ministry because I already am.” I am in ministry. Their surprising countenance upon hearing my answer is priceless. This is because many people have a narrow-minded perspective on what constitutes ministry. To me ministry is simply “the work of God.” What is the work of God?

The work of God

To many of us, the work of God is working directly in the five-fold ministry of “apostles… prophets…evangelists…pastors and teachers.” One day, a crowd approached Jesus with an enquiry, “We want to perform God’s works, too. What should we do?” Jesus’ response was both simple and profound, “This is the only work God wants from you: Believe in the one He has sent.” That’s all!

Doing the work of God is not necessarily about occupying an ecclesiastical office. The work of God is to believe in the Messiah, Christ. Therefore, any activity we engage in as a result of our faith in Christ qualifies as the work of God. It does not have to be in church. It can be in your home or on the streets.

Every ministry satisfies two purposes. First, ministry glorifies the name of the Lord. The best way to validate your faith is to be conscious that the reason for what you do is because of your faith in God; that your intention is to honor God and to make others look favorably unto Him. Second, ministry must uphold human dignity. It is impossible to honor God without upholding human dignity. The person who says “I love God” but hates their neighbor is pronounced a liar in 1 John 4:20. The scripture asks a rhetorical question, “for if we don’t love people we can see, how can we love God, whom we cannot see?” (NLT).

So whether you work in an office, classroom or in a shop, if you align your deliverables to your faith in God and your commitment to advance the wellbeing of others, you are doing the work of God. If human beings are created in the image of God, then it behoves on all who believe in God to be committed to His image. Service to God is expressed through service to fellow humans.

Called by God

The work of God is not to be done only by few people. Every person is on earth to fulfil God’s agenda. If we commit to doing that, then we can say that we have responded to the call of God. It is not only pastors who are called. God made us so that “we can do the things He planned for us long ago” (Ephesians 2:10, NLT). If David had lived in contemporary times, he would have been a politician, yet he was referred to as a man after God’s own heart. Job was not a priest or prophet, yet God described him as “my servant Job.” God is the one who calls, He can’t be wrong.

Challenge

Make it a point to do the work of God. If it means being in an ecclesiastical office, go for it. If that is not the case, don’t despise what you do. The one who calls people into the pulpit is the same one who calls people outside the pulpit. So long as what you do honors Him and enhances the wellbeing of His people, you are in ministry. Well done, good and faithful servant!

—

About the author

Terry Mante is a business development and management consultant who has worked on market research, strategy, corporate training, capacity-building, branding, as well as PR and communications projects for clients in diverse fields. He is an incisive and inspiring author, personal development coach, moderator of focus group discussions and conference/workshop resource person.

To book or network with Terry, connect through Facebook, Twitter or Instagram (@terrymante or tmexchange1); LinkedIn (Terry Mante); Email: [email protected] and WhatsApp: +233.249.827.575

Prostate supplements do not work for all men

August 15, 2020

Fig. 2 Dr. Nyarkotey at University of Ilorin, Nigerian, 2018, Presenting

Large prostate does NOT always cause urinary problems. I think one of the areas urological medicine is behind is assuming that a 60-year-old plus man with urinary problems has a big prostate. A big prostate is not always a problem. I often see 100 to 150-gram prostates (normal is roughly 20 to 40grams) with little to no urinary symptoms and smaller prostates with lots of frequency, urgency and nighttime urination. Notwithstanding, many excellent ingredients make up the best prostate health supplements:

saw palmetto
croton membranaceus
beta-sitosterol and beta prostate
other plant sterols
rye pollen
Vitamin D
Vitamin E
stinging nettle
DIM
zinc
cranberry
pygeum
green tea
Hibiscus tea
For prostate cancer supplements, these are also useful:

curcumin
quercitin
bee pollen
And there are many more I could add to the lists.

A patient said “For me, I sometimes react to green tea! Yes, I know it is supposed to be a superfood and the tea of teas, but for me, it causes a reaction. I do far better drinking real organic dark roast coffee. We are all so different. Once I learned how to personal test for foods and supplements I was able to customize my diet and supplements to serve me without the reactions that had plagued me for years, finally allowing my prostate to heal. I now wake up once or twice a night instead of every hour. If I remember not to drink before going to bed, I usually waken only once now,” he revealed.

If you are healthy, which prostate supplement will work for you as preventative medicine? The most important prostate health supplement of all is your daily diet. Your food is the key to your prostate health. No supplement will cancel out poor health choices. It is only a matter of time. You can then join the untold number of men who have a prostate problem. If you are healthy then a broad form of prostate supplement will be a good addition to your diet. Take a Caution from me today as I have seen it all on prostate supplements. You see, what works today may not work tomorrow and this is why I constantly review the Men’s Formula Tea ingredients.

Endogenous and Exogenous prostate supplements

Foods in most cases are endogenous and a natural part of our diet. Exogenous ones are external like most herbs designed for medicinal use and eventually lose their effectiveness. They can only be taken for months at most and not years as they can become harmful. This is one of the reasons reactions occur and the best sounding herb can become your enemy!

The most important prostate cancer supplement

Vitamin D beats them all! Low levels and you double your risk of prostate cancer. The darker your skin the greater your risk if you live in the community. Low levels wreck havoc with your prostate. Men today are chronically low in this crucial vitamin. The best way to get it is through sunlight. If you can’t then take a fat-soluble version of vitamin D3.

cod liver oil
sardines
liposomal D3
Natural forms of Vitamin D3
Avoid all other versions of D

Saw Palmetto Marketed alone not enough!

Dietary supplements such as saw palmetto are not regulated the same way that prescription drugs are. In some jurisdiction, Supplement makers are not required to prove to federal regulators that their products are safe, that they’re effective, or that they’re accurately labeled.

Multiple studies and investigations have found that such products are often grossly mislabeled: They may be illegally spiked with prescription drugs, which can interact in potentially dangerous ways with other medications you may be taking. And in many cases, the amount of active ingredient is either far less or far greater than what the label indicates. (One study analyzed six brands of saw palmetto and found that half of them contained less than 20 percent of the amount stated on the label.)

The Placebo Effect

In one 2011 scientific study, by Barry et al, researchers gave 369 men suffering from symptoms of BPH either a placebo or doses of saw palmetto extract. They tracked their symptoms for up to 72 weeks and concluded that the extract (even at high levels) was no better than a placebo at alleviating symptoms. Several similar studies have also reached that conclusion, and a thorough review in 2012 by the independent Cochrane Collaboration of studies involving a total of 5,666 men found this lack of efficacy, too. The update of this review included 32 randomized controlled trials.

Men’s Formula Tea he developed for Prostate Health.

First of all, I studied holistic and Naturopathic medicine with extensive research into naturopathic urology, a researcher and I am trying to give the best of information on prostate supplements including my Men’s Formula Tea. Treating prostate disease is now a huge business so beware before purchasing any:

Fact #1: Every website/center/manufacture that claims a product is #1 is either owned by the company selling that product or is being paid to make those claims

They are on-air, radio, TV, newspapers and you’ve seen the sites all over the Internet claiming product Ralph is the #1 prostate supplement. They are millions of them now. They usually include a “newsreader”, celebrity, looking guy (not a doctor) telling you how good the product is based on “independent” studies and reviews. These websites include “review” sites and other “news” sites and companies with official-looking “reports” about their products.

None of them are independent. They only have one intent. To convince you to buy their product, they often employ what are called “affiliate” networks to help them sell and market their products. These are small websites that are paid to write positive reviews on their products and market those articles on the Internet. They receive a fee for doing this. They are paid based on how many sales they accumulate. This is why any product formulated by myself has all the ingredients on the panel, with detail information on the ingredients based on well-conducted scientific studies to enable you to make your informed decision on the product. For instance, my Men’s Formula Tea contains a leaflet in the pack as well with disclaimers attached.

Fact #2: There is no such thing as a “Free Trial”

In life, I realized that “nothing is free” and the same goes for prostate supplements. Please take this as fact and one more time “nothing is free”!

Now for those considering the online version ask yourself, if it was free, then why do you need to use a credit card: for payment of shipping?

Companies that offer free trials only have one thing in mind; to get your credit card so they can 1) charge you the FULL price as soon as possible for the supplement they sent you and 2) make it extremely hard if not impossible to cancel any future automatic shipments that they have signed you up for automatically as part of the “free offer”. In the Internet marketing industry, this is known as a “negative option”; giving away a free sample in order to get your credit card details so that you are automatically charged for more product when you don’t cancel (usually you are given a very short period to cancel like 7-14 days from shipment).

Fact #3: Your past Prostate Supplement Taken Maybe Didn’t Work for a Very Good Reason

Most men get frustrated with natural supplements because they didn’t work and there is a very good reason for that. It’s plain and simple.

What you have been purchasing in the past either did not have the right ingredients that have been shown to be successful in the clinical trials; or you were not getting the correct dose in the amounts to make a difference. Most prostate supplements have very minimal dosages of the ingredients required to make a difference. Even the most popular brands of prostate supplements you see on TV only have minimal ingredients.

Read the ingredients and add up the total milligrams in the formula you are taking. Most of them also have only one active ingredient. You are being told over and over again on TV to take beta-sitosterol as a magic cure but nothing could be further from the truth. You need a combination formula in the right ingredients to make a difference. You cannot rely on a single ingredient to get you back to better health.

One final thing on this point: most companies also “hide” the actual amount of ingredients in a “proprietary blend”. This is a way to hide the actual amount of ingredients in each bottle. Count up the actual ingredients and look at the active ingredients that have real studies and clinical research to back up those claims. So only buy from companies that fully disclose all the ingredients on the Supplement Panel. So you know exactly what you are paying for. You can see this on the Men’s formula tea Panel.

Fact #4: Prostate Supplements Don’t Work for All Men

Get this fact straight. I am a trained Naturopathic and holistic Doctor, product formulator, a manufacturer with experience in prostate health and the right person to tell you this! I talk about prostate cancer because I studied the first-ever Master’s program in Prostate Cancer-Sheffield Hallam University, UK, so am not ignorant in urological health. So combining my studies in Prostate Cancer and Naturopathic Medicine puts me on a better position to educate you on this!

In my clinical experience and research, I realize that Prostate Supplements don’t work for all men. Those companies that claim otherwise are simply wrong. But here is the other truth; the DRUGS that men purchase or are prescribed by their doctors for the same purpose work less than 60% of the time! And the drugs come with side effects like an increased risk of prostate cancer and sexual dysfunction.

Nothing works 100% of the time for 100% of the men. That is why the Men’s Formula Tea which I have formulated and manufactured and on the market has a leaflet for you to read. Even Men’s Formula Tea for Prostate health and wellness does not work for 100% of men. No company can claim this. The company gets fantastic results for those men that we are helping to lead better lives. In fact, with Men’s Formula Tea, I also post NEGATIVE reviews online as well as all their POSITIVE reviews. I do this so that men have ALL the information they need to make up their minds. I don’t know of a single other company that openly do these reviews.

Fact #5: Do You Know Who Formulated Your Prostate Supplement?

A very important question to ask before making up your mind. You also need to ask and research who actually made the product you are putting in your mouth every day and more importantly, was it formulated in actual, clinical practice by a Doctor who specializes 100% in prostate health. Most companies who market prostate supplements are good marketing companies but they are not in the business of prostate health. Look for a prostate supplement that is formulated by a doctor who 100% specializes in prostate health. And look for a product made by a company that only makes prostate health supplements and who are up to date on all the latest research and clinical trials as to what works and what doesn’t. maybe, in this area, I can also claim some credit here!

Most prostate supplements are not formulated by doctors or naturopaths in the field of holistic urology. In fact, I have not seen a single other product that is formulated by a naturopathic urologist that 100% specializes in prostate health like Dr. Geo in the USA, the formulator of Prost-P10x. Not one! If you find another product formulated by an actual naturopathic urologist – send me his name and will research on this.

So now, look at your prostate supplement. Who made it? Who formulated it? Do you know the answers to these questions? You should: or are you just relying on the integrity of the late-night TV ads to give you confidence? The “doctors” you see are mostly paid, actors. And the real doctors that endorse products are mostly in a completely unrelated practice to have any knowledge of urological conditions. They are paid to “endorse” the product but they had no role in the formulation. Just because there is a picture of a doctor on the website it doesn’t mean anything. Research that doctor. What does he specialize in? Is he a urologist? A naturopath doctor? Or both of those. Chances are your product is being formulated by a chemist or someone with no urological or prostate experience. Ask yourself what authority they have to commentate or sell you a product if they are not practicing every day in prostate health and seeing patients with problems like yours all day.

Fact #6: Only Buy Ingredients that Have Been Proven to Work!

When you want to buy, only buy only those ingredients that have been shown in the clinical studies to work. And you become part of a community of people that are dedicated to keeping you informed and up to date with the best information and latest research on your health.

If I was to ask you to name 2 ingredients for prostate health you would probably say saw palmetto and beta-sitosterol right? They are the most commonly known. But they are also the least understood. Saw palmetto, for example, only works when it is in a combination formula like the ingredients in Men’s Formula Tea. That is what the studies have shown. On its own, it is no better than a placebo and that is why I have problems with those prescribing only Saw palmetto singly for men’s prostate health. Even the RDA of 320mg is ineffective on several occasions. 640mg and above work for BPH if combine for instance with Men’s Formula Tea.

Beta-sitosterol is also widely misunderstood likewise. It’s well marketed by big supplement companies and Hospitals as a “miracle” ingredient however the best clinical studies on beta-sitosterol have been (1) at 3 x 20mg a day and (2) a study showing 130mg a day; that’s all. There are no studies showing higher levels work better for prostate health; only one showing 800mg worked for cholesterol, not prostate health.

Facts # 7- A good physician does not promise cure: companies that promise results guarantee should provide a money-back guarantee as well.

Any company that openly promise result guarantee should also make room for a money-back guarantee for clients. So patients should be bold to ask companies that offer those results the room for money-back guarantee and see if they would make room for it. If any company makes room for it then proceed with it. In my next article, will bring you the scientific studies on the ingredients in Men’s Formula Tea and others I have researched as well to aid in decision making. As I did mention, Men’s Formula Tea is also not a magic bullet product. In case it does not work for you, kindly look for an alternative!

Fig 3. This is Men’s Formula Tea for Prostate Health. Always read the ingredients on the panel and the leaflet inside.

The Alternatives

If you’re trying to avoid taking prescription medications or are undergoing surgery to resolve your prostate problems, you can try other things that, unlike saw palmetto, are recommended by doctors:

Cut back on drinks between dinner and bedtime, especially alcoholic and caffeinated beverages.
Limit the use of antihistamines and decongestants, which can prevent muscles around the bladder from relaxing.
If you take a diuretic for high blood pressure, ask your doctor about changing the time you take it, reducing the dose, or trying a different drug.
Eat lots of produce, which may also help, according to a large study done in 2007.

DISCLAIMER This post is for enlightenment purposes only and should not be used as a replacement for professional diagnosis and treatments. Remember to always consult your healthcare provider before making any health-related decisions or for counselling, guidance and treatment about a specific medical condition.

Gifty Osei to host cooking show on Onua TV

August 15, 2020

It’s big on Onua TV this month, August 2020!

Award-winning Ghanaian musician, Empress Gifty Osei Adorye, is set to host a new exciting show on Onua TV, currently the fastest growing Ghanaian local language channel.

According to the management of the television channel, the assertive and bubbly musician will be hosting a unique talk show which focuses on cooking and music. The show is dubbed Aben Wo Ha and it is expected to premiere on Sunday, August 16, 2020, from 5 PM to 6 PM.

Aben Wo Ha is designed to bring to the kitchen men from all walks of life; be it politicians, showbiz personalities, members of the clergy and others. The show is uniquely positioned, with a fusion of music and cooking.

On each episode, the guests will be exhibiting their culinary skills amidst a very engaging conversation with Empress Gifty on a range of relevant subjects, from career, business, trending issues to family affairs. This will be followed by a live band session to add to the excitement.

According to the producers, periodically, the show will be moved to open and controlled spaces where the host and the guest will cook for a selected number of people who will bring their perspectives to the conversation.

Empress Gifty Osei’s love for music and food comes in handy for the show concept of blending music with food. You can expect nothing short of a thrilling show with Empress who prides herself as a great cook and a known conversationalist. Aben Wo Ha airs on Onua TV every Sunday from 5 PM to 6 PM and repeated Thursdays from 3 PM to 4 PM.

President Akufo-Addo to open AfCFTA Secretariat building on Monday

August 14, 2020

The President, Nana Addo Dankwa Akufo-Addo, is set to open and handover the African Continental Free Trade Area (AfCFTA) Secretariat Building to the African Union Commission (AUC), in Accra, on Monday.

The AfCFTA Secretariat will administer the free trade agreement creating a ‘Single Market’ for 55 African countries. The combined population of the member countries is estimated to be 1.2 billion and a total Gross Domestic Product (GDP) of about $2.5 trillion.

So far, 54 countries have signed the Agreement with 28 countries ratifying the same.

Ghana was selected, by member states, to host the AfCFTA Secretariat during 12^th African Union (AU) Extraordinary Summit held in Niger.

As part of the obligations and commitments under the Host Country, ghana is required to provide a fully furnished office complex as the Headquarters for the AfCFTA Secretariat and official residence for the Secretary-General.

In a joint statement issued and signed by the Minister for Trade and Industry, Alan Kyerematen and the Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, it was acknowledged that the hosting of AfCFTA Secretariat in Ghana will promote as an attractive regional and investment hub in Africa.

Additionally, it is also expected to help boost economic activities and provide job opportunities for Ghanaians.

The Chairperson of the African Union Commission, the newly elected Secretary-General of AfCFTA, the Speaker of Parliament, Chairman of the Council of State among other dignitaries are expected to be present, at the ceremony on Monday.

‘Prioritize youth development issues to ease unemployment burden’

August 12, 2020

The Greater Accra Regional Youth Network has called on the government to give greater attention to youth development issues particularly youth unemployment which has worsened with the outbreak of COVID-19.

The Group said the government should “prioritize and invest massively in developing the youth by instilling in them employable Information Technology (IT) skills to ease the unemployment burden they are confronted with.”

In a statement issued and signed by the Public Relations Officer, of the Greater Accra Regional Youth Network, Joseph Kobla Wemakor, to commemorate this year’s International Youth Day, they reckoned that the ripple effect of the COVID-19 has brought untold pain and hardship across the globe.

“Infection numbers continue to rise, more companies are struggling to survive, and terrifying food sources and millions of more people are going to bed hungry every night. It is no doubt we are living through very challenging times where issues of the youth all over the world have been compounded in similar magnitude.”

It was also acknowledged that “among all the issues the world is faced within this era of the outbreak of the coronavirus pandemic, public health and economic issues continue to dominate putting many lives at risk particularly young people who constitute half of the world’s population. This is a concern many leaders across the world are confronted with which we believe our government is equally worried about.”

However, they noted that “focusing on youth development issues at this moment of hardship, would be to help build their capacities through the provision of employable IT skills in a bid to help create employment opportunities for them.”

In the thinking of the Group, this would help to ease their unemployment burden if not wipe away the economic burden brought upon by the emergence of the coronavirus pandemic.

It is against this backdrop that they appealed to the government to urgently roll out a national ICT for Work programme with special focus on preparing the Ghanaian youth for the virtual or digital world in order to stay relevant or competitive in the global job market.

In line with the theme of this year’s International Youth Day: “Youth Engagement for Global Action,” they also appealed to the political parties in the country contesting for political power in the upcoming polls in December to exercise restraint in their dealings, eschew violence and desist from instigating the youth to perpetrate mayhem before, during and after the elections.

They encouraged political parties to find avenues to collaborate with the youth to ensure peaceful, political and sustainable process.

The Greater Accra Regional Youth Network is a web of youth groups from various Municipal, Metropolitan and District Assemblies in the Greater Accra Region. The objective of the network is to promote youth empowerment in the region through advocacy and other projects that would transform the lives of the youth.

Promote, Plant, Protect: U.S. Supports Shea Parkland Restoration Initiative and Women’s Economic Empowerment in Ghana

August 12, 2020

0P2A6451 — The participants in the shea seed planting demonstration. From left to right: Matt Anderson - Regional Economic Growth Office Director for USAID/West Africa, Madam Afishetu Mahamadu from Tungteiya Women’s Cooperative, Ambassador Stephanie Sullivan, Madam Peter Bamunu from Gizaa Gunda Women's Cooperative, Ms Sharon Cromer - Mission Director for USAID/Ghana and Mr. Kwame Wiafe of Wilmar Ghana. Photo Credit: USAID

The United States Government, through the U.S. Agency for International Development (USAID), and the Global Shea Alliance (GSA) launched the Action for Shea Parklands (ASP) initiative.

Spearheaded by GSA, this initiative seeks to promote, plant, and protect the shea parklands while advancing a shea industry commitment to plant ten million trees across West Africa over the next ten years.

In Ghana, 20,000 trees will be planted across the five northern regions this year alone.

To commemorate the launch, the U.S. Ambassador to Ghana, Stephanie S. Sullivan joined members of the Global Shea Alliance and women shea cooperative leaders to plant 50 shea seedlings in seedling bags which will be transported to the Northern Region of Ghana for planting during the 2021 shea season.

Ambassador Sullivan said, “Given the impact of the industry on improving incomes for women and their families, I’ve been excited to witness first-hand the enormous growth of the shea export industry in Ghana.

She also acknowledged that “U.S. companies and consumers continue to play a key role in this growth, ensuring that the industry contributes to Ghana’s economic development while meeting the highest social and environmental standards.”

Togo and Benin are also pilot countries for the ASP initiative. In August 2020, 6,000 trees will be planted in northern Togo by 500 rural farmers, including 300 women. The seedlings were acquired from a network of small community nurseries established in 2019.

In Benin, the Fédération Nationale des Productrices d’amandes et de beurre de Karité du Bénin (FNPK), the umbrella of women cooperatives, launched the shea planting campaign as part of ASP in June 2020. The campaign involves 400 women from the northern regions in Benin who planted 2,400 trees in July this year.

The initiative also highlights the importance of bolstering women’s economic development activities in Ghana. Shea is a primary source of livelihood for women living in northern Ghana. In partnership with USAID, GSA is leading the industry’s sustainability effort.

To date, 100,000 seedlings have been raised and 8,000 shea trees planted with private sector funding under the USAID-funded “Sustainable Shea Initiative” (SSI), a public-private partnership with GSA.

The SSI is an $18 million, five-year program that promotes the sustainable expansion of the shea industry in Ghana, Benin, Côte d’Ivoire, Togo, Mali, Nigeria, and Burkina Faso as well as increases the incomes of rural women, who form the backbone of the industry.

Ecobank Group, AUDA-NEPAD unveil MSME Academy

August 12, 2020

African males using tablet in vegetable garden — Young African Xhosa Male and older Adult African Male discussing the needs of their garden and referencing information on a tablet the younger male is holding,

The Ecobank Group and the African Union Development Agency (AUDA-NEPAD), under its 100,000 MSMEs by 2021 (100K MSMEs), have launched the MSME Academy to provide easy access to practical training and resources on financing opportunities in various countries; how to build a digital presence for businesses; and how to adapt business operations in the era of COVID-19 pandemic.

The Pan African MSME Academy offers free access to market intelligence and a host of mentors with a diverse experience while assisting with access to funding opportunities. The MSME Academy will have three components: an informational webinar with invited speakers, a series of virtual instructor-led training, and mentorship for the MSMEs.

MSMEs are invited to join our first series of informational webinars tailored for MSMEs operating in Ghana. The first webinar provides tips on access to finance and building a digital presence.

Scheduled to come off on August 21, 2020, interested businesses can register to the MSME Academy at https://msmeacademy.nepad.org/

The AUDA-NEPAD 100K MSMEs programme is focused on the implementation of the Agenda 2063 Aspiration number-one (1), which aims at building a Prosperous Africa based on Inclusive Growth and Sustainable Development.

The programme will provide support to African MSMEs and is structured on three pillars: the MSME Academy; MSME Marketplace; and MSME Financing Support Programme to be delivered through an MSME Digital Platform.

MSME Academy: The MSME Academy aims to build the capacities of MSMEs across Africa through a combination of relevant content library, a network of institutions specialised in MSME support such as incubators and accelerators, and a community of peers, mentors and advisors.

MSME Marketplace: a consolidated marketplace of marketplaces, enabling MSMEs to access e-commerce, procurement and alternative financing opportunities across the continent.

MSME Financing Support Programme: a scheme that will bring together financial institutions, guarantee funds and other institutions to reduce the cost of risk for lenders to deliver capital to MSMEs at scale. The objective is to radically expand access to finance by aggregating smaller financial institutions such as micro-credit institutions and credit unions that have access to micro-enterprises, standardising their processes and building trust in their capabilities.

The MSME Digital Platform is a one-stop-shop for all MSMEs across Africa to access all these three programmes, which jointly address MSMEs’ challenges with access to capacity building, markets and capital.

Marie-Noelle Nwokolo‘s thoughts: A case of missed opportunities: Realising the potential of Ghanaian agriculture

August 10, 2020

Africa’s path to building prosperity is at the core of the continent’s development narrative. For over half a century, we have been trying to figure out what our way out of poverty and underdevelopment should be. Still, the struggle remains. Why might that be? Simply put, there are a lot of opportunities we miss, and the strengths we take for granted. Agriculture is one of them.

Africa remains a net importer of food, although it has 874 million hectares of arable farmland and almost 60% of the world’s uncultivated land. In the book Making Africa Work, this picture is quite bleakly demonstrated: only 43 per cent of Africa’s arable land is in use, fertiliser use per hectare is just 13 per cent of the global average, and Africa’s farmers have an estimated one tractor per 868 hectares. As its population has doubled overall and tripled in urban areas in the past 30 years, agricultural production and food security have struggled to keep pace.

Africa’s issues with agriculture are not for a lack of ideas. Too often, we squash brave policy decisions like a game of Whac-A-Mole, with the player’s scores going to political self-interest rather than the advancement of our countries. Politics and choices matter in dealing with poverty. Until we make big bold long-term policy decisions, and corrective reforms, in the overall national interest, our tune of underdevelopment is unlikely to change.

The narrative is not much different in Ghana. Take cocoa for instance.

Ghana, the world’s second-largest producer of cocoa, accounts for some 20% percent of world cocoa production, or 850,000 metric tonnes, from 800,000 smallholder farmers working on plots of two-three hectares on average, and generating $3 billion annually in foreign exchange. Roughly a third of which occurs in the Western North Region – the most acidic region in Ghana. Cocoa accounts for up to 8% of GDP, 25% of export earnings, and support some six million people who depend on it directly or indirectly for their livelihood.

The export of raw cocoa beans has been a crucial source of government revenue since independence, but there is untapped potential in processed and value-added cocoa products. Eighty percent of exported cocoa is sold in its raw form to be processed elsewhere. ‘Cocoa is a major staple of the Ghanaian economy,’ one Ghanaian economic expert remarked, ‘yet its story has essentially been the same for decades. There’s been virtually no advancement in the way the sector operates. We must aim to do better’.

Ghana’s success with cocoa is a result of the high-quality cocoa bean seeds preferred by many international cocoa brands abroad. Thanks to regulations by COCOBOD and its peripheral agencies, the minimum quality standards exceed international benchmarks and the assurance of offtake gives farmers the relative predictability that they need. Sales of Ghana’s cocoa is largely managed by COCOBOD, the state parastatal with sole permission to sell some 70% of Ghana’s cocoa production to the rest of the world through the futures market, after fixing the price of beans for the full crop year.

Historically, the COCOBOD has been a safety net for cocoa farmers, shielding them when countries with fully liberalised cocoa marketing were drowning, Cote D’Ivoire for instance. Yet, last year, COCOBOD held some GHc6 billion (US$1,1 billion) in long term debt for its activities supporting cocoa farmers. The question around innovating around our existing cocoa market structure should be on the table for discussion. If something worked for you at a point, it doesn’t mean it will always work. Today, farmers’ survey conducted by IMANI revealed that 94% of farmers are dissatisfied with the current producer price and 70 % believe that COCOBOD does not serve their interest. When there is a gap between its operations and outcomes to the main constituency, there is a strong basis for action, especially if it is a drain on state coffers.

A challenge with Ghana’s cocoa offering, apart from COCOBOD inefficiencies, is the reliance on raw cocoa beans.

Globally, the cocoa beans market is worth an estimated US$9 billion, compared to an intermediate products market of US$28 billion and a final consumer goods market of US$87 billion. Ghana today captures some 20% of the cocoa beans market but only a negligible share of the intermediate and final products markets, processing a mere 15% of the beans it produces into limited semi-processed goods (such as cocoa butter and powder) as opposed to final-stage consumer products.

To succeed, cocoa needs to be viewed less as a reliable financial commodity (and a source of reliable export revenue in the short term) and more as a basis for industrial growth. The success of artisanal companies like 57 Chocolates should provide an impetus for the government to create more space for more entrepreneurial activity in cocoa processing and value-addition.

Broadly, the characteristics of cocoa farming cut across Ghana’s agriculture sector: smallholder farmers, exporting largely raw produce, minuscule processing, and relatively low yields. As a consequence, Ghana has unrealised potential in the food industry. Realising Ghana, and Africa’s, agriculture potential necessitates a range of integrated actions – a value chain approach.

The policies needed for greater agricultural yields are no mystery. Many can rattle off the need to introduce land reform, introduce improved seed varieties, deliver better extension services, make investments in skills and basic infrastructure, develop rural finance options, and assure some predictability in pricing and offtake, among others.

And yet, although these requirements are understood, the reforms needed still do not occur. Why? It depends. With cocoa for instance, apart from the contribution to state revenue, a significant portion of the electorate is in cocoa farming. As such, the political economy around cocoa farming makes it a sensitive electoral issue.

Thus, realizing cocoa’s agricultural potential, and more broadly agriculture, really may have more to do with politics and the choices that Ghanaian politicians make.

Nevertheless, rethinking how we have done things in the past is needed. Cocoa farming, and the business of agriculture, has so much more to offer Ghanaians. The government must investigate, perhaps, a quasi-liberalised approach where it pursues progressive and incremental reforms to encourage private sector involvement while maintaining a fixed minimum price to protect farmers.

Evidently, addressing these issues will require an element of political will and policy granularity as the book Making Africa Work suggests. To realize its agriculture potential, the old ‘business-as-usual’ approach has to change. Ghana needs to be more supportive of the enterprise rather than personalised and patronage-ridden systems. The private sector needs to be more active in and encouraged to occupy spaces like agriculture to develop a more competitive and prosperous sector.

As a result of the current pandemic, food security – domestic and regional – should underpin the need to strengthen production and productivity in Ghana’s agriculture sector. Cocoa needs reform but so do cashews, tomatoes, rice, pineapples, sugar, and soybean, to name a few. All of Ghana’s neighbours (Togo, Burkina Faso, and Cote d’Ivoire) are net food importers by volume. In Burkina Faso, Ghana’s Northern neighbour, around 1.6m people are severely food insecure with the COVID-19 crisis meant to escalate this to 2.1m by July 2020 alone. The region’s increasing food insecurity and massively growing population amongst successive waves of floods and droughts indicate a growing demand for basic food crops, many of which Ghana can supply. But only if we open to trying new ideas and making some tough choices.

Marie-Noelle Nwokolo is a researcher at the Johannesburg-based think tank, the Brenthurst Foundation where this article was originally published. She writes in her capacity as an inquiring Ghanaian.

Poetry Corner: Erectioneering vices

August 9, 2020

In the quadrennial jubilee of the land
It is customary to receive free from their filled hand
In the season of freebies
There is a reason to be part of a donation spree
But who serves a free lunch?

In her eighties and infirm
Had been homeless too for a time
Had been so for more than a term
Had children who had left town to eke out an existence
It took the media time to inform
And an official visit to confirm

The Deputy heard just when we heard
And before any time could be spared
The pledge had been Vicely made
A pledge to erect a shelter
To provide her a protective cover
Against the vagaries of the weather

It took only a few days to commence a sheltering erection
Only a few months would complete the sheltering cover
For an incumbent Deputy needed an image erection

II
In her twenties and delivered of quadruplets
Had been confined before the multiple births
Had an owner who used to be visible…responsible
An owner who had to flee before the quadruplets berthed
For the issue of issuing out quadruplets would be too complex to handle

It took the press to tell
And to sell the story so well
It took a formal visit of an old guard
To inform the camp of the new Aide-de-camp
Before any could say Jack
The promise had been uttered
A promise to release from a hospital confinement
A promise to sponsor a livelihood for mother and children

It took some travelling hours to donate free
It took the press to tell so well
For a new Deputy has an image to erect
A new Deputy has many more free tips to erect
…to be firmly erected

In the quadrennial jubilee of the land
It is customary to receive free from their filled hand
But who serves a free lunch?
In the spirit of, ‘you receive free give free’
It is customary to return a good deed
It is reciprocal to give free of a hungry thumb
In the quadrennial Vice erection of the land

Chris Koney’s column: Onua TV celebrates first anniversary

August 8, 2020

The fastest-growing Ghanaian local language television channel, Onua TV, is set to celebrate its first anniversary this month. Onua TV is a subsidiary of Ghana’s leading media company, Media General and positioned to project Ghanaian values and culture.

Onua TV was launched on August 10, 2019, in the Ashanti Region during the Media General’s ‘Ashanti Invasion’ which witnessed the unveiling of contestants for the thirteenth edition of TV3’s Ghana’s Most Beautiful (GMB) pageant.

The television platform has since become the source of credible and timeous news plus several stimulating and entertaining content. Onua TV has introduced quality programmes on human interest, health, music, sports, and entertainment.

Speaking about the first anniversary, the General Manager of Media General Television, Francis Doku, highlighted the channel’s pledge to provide its audience with quality content at all times and also embrace the highest professional standards in broadcasting.

“The media as we know is important in shaping the development process of a country. Development involves changes or advancement in a nation aimed at improving the political, economic and social lives of the people.

The rationale behind the establishment of Onua TV is to project the rich Ghanaian culture, values and heritage for the development of the country. We have done a great job in one year by introducing very compelling, relevant and exciting content focusing on all aspects of life which has produced some results. We are on course and determined to strengthen our position in the sector,” he added.

Over the period, Onua TV has introduced some exciting programmes including Onua Maakye, a daily three-hour morning show between 6 am and 9 am, a one-hour update show on the COVID-19 pandemic dubbed COVID – 19 Nkomo and 100 Degrees, an hour political talk show which has become very popular.

Kokonsa Headquarters, a show for breaking entertainment news, gossips and commentary on trending issues is one of the stations most-watched show. Recently, the station also launched a health talk show dubbed Onua Doctor and Odo Fever, a new reality dating show.

According to Mr. Doku, Onua TV will as part of the first-anniversary celebration introduce new and exciting programmes. “We are happy about our gains within the first year of Onua TV’s existence and it is time to take things to the next level. You can expect nothing short of quality programming on Onua TV with the introduction of fresh content including a uniquely exciting cooking show in the coming days,” he indicated.

The station will host an anniversary cocktail at the forecourt of Media General on Monday, August 10, 2020 at which viewers will be acknowledged and celebrated for their support.

Hype-flex holds park and watch amid COVID-19 social distancing

August 8, 2020

Hype-flex, a subsidiary of Hype. Up Limited, a marketing and advertising company aimed at building brands and individuals, has organised a movie roadshow to entertain patrons amid COVID-19 restrictions.

The entertainment event dubbed ‘Park N Watch’ witnessed patrons drive into the large open space, parked their cars and get connected to watch the movie on the projected screen whilst still sitting in their respective cars.

To offer a comprehensive movie house or cinema experience, the patrons had at their disposal upon request pop-corn, cocktails, alcoholic and non-alcoholic drinks, pork and chicken kebab, among others, just to chill out and calm down their nerves as they enjoy the movies.

Social Media Manager, Hype. Up, Abba Manu, indicated that the concept is to provide the best way to practice social distancing whilst entertaining oneself.

“You come in your car to the park, we have a screen showing movies and you are connected to watch from your car, but we are looking at adding more to make it much interesting. We are looking at adding football matches, boxing and other sporting activities. What makes it different from a normal theatre or cinema is that there is little to no contact at all between the people who come to entertain themselves,” he said.

She emphasised that looking at the figures and trajectory of the pandemic, COVID-19 is not leaving anytime soon, therefore such innovative contactless means of entertainment must be embraced and considered as the new normal.

“We refer to the ‘Park N watch’ experience as a mini restaurant in a car because unlike the normal cinema setting where you cannot get some foods in there, we have made available waakye, yam chips, pork/chicken wings among others,” she indicated.

According to the organisers of park N watch, the initiative started late 2019 prior to the outbreak of COVID-19 and so, the social distancing protocols put in place by the authorities has provided the right environment for the initiative to thrive. The event also provided the organisers with the opportunity to sensitise patrons on the need to adhere to the COVID-19 safety protocols such as wearing of nose mask, washing and sanitising hands regularly, among others.

The maiden Park N Watch event which took place at the Ghana Club-Accra is expected to become a regular weekend programme that will provide movie lovers with the opportunity to enjoy their favourite movies and will maybe moving from one location to the other.

Preorder the All-new HUAWEI Y8p with 48MP AI Triple Camera and OLED Display

August 8, 2020

All-Powerful 48MP AI Triple Camera

Huawei’s Y series has always featured high-level mobile photography, having made ultra-sharp 48MP shooting accessible to a wider user base. The all-new Y8p is set to further this trend, providing high-quality sensors and AI algorithms to ensure that every shot, even those taken on a spontaneous whim, is Instagram-ready.

The HUAWEI Y8p’s 48MP AI Triple camera consists of a 48MP main camera, 8MP ultra-wide angle camera and 2MP depth lens, and is ideal for versatile daily shooting scenarios, with a number of shooting modes.

If you’re a night owl, you’ll especially love Night mode, as it allows you to take dazzling nighttime photos without the need for a tripod, made possible by the highly photosensitive 1/2-inch sensor. The quick, non-so-technical explanation is that photography is the art of leveraging and manipulating light — the larger the sensor’s photon-capture area, the more light the camera catches, and the better the imaging quality. As a result, smartphone brands have scrambled to incorporate ever-larger sensors, and the HUAWEI Y8p, though ostensibly a budget phone, is among the leaders in this field.

The Portrait mode makes it easy to capture beautiful portrait shots, and Wide-angle mode effortlessly fits a ravishing dinner spread within the frame. Meanwhile, the Master AI is capable of recognizing up to 22 scenes and optimizing the settings for the perfect shot.

Excellent Software and Hardware

The HUAWEI Y8p comes with large storage of 128GB along with 6GB of RAM to ensure smooth performance. It also sports a massive 4000 mAh battery for long-lasting performance. At its heart, the HUAWEI Y8p is powered by Huawei’s self-developed Kirin 710F chipset, a mid-range product with laudable performance, as evidenced by its octa-core architecture that includes four high-performing “big cores” and four power-efficient “little cores”. The chipset works hand-in-glove with the newly updated EMUI 10.1 OS, facilitating in-depth software-hardware collaboration for fluid navigation on the phone. Gaming is not an issue, either, with expert-level support from its very own GPU Turbo technology, which effectively accelerates graphics processing while reducing power consumption.

6.3″ HD OLED Dewdrop Display

The HUAWEI Y8p houses a 6.3-inch 2400×1080 OLED display that’s framed by ultra-narrow bezels, creating an expansive, sharp viewing experience. Its dewdrop-shaped notch is home to a 16MP front camera, which also provides for versatile photography, with its own Portrait and Night selfie modes. The OLED display also features an in-screen fingerprint sensor, designed for fast, easy screen unlocking. Although it sports a huge screen and a formidable 4,000 mAh battery, the HUAWEI Y8p is exceptionally slender and light (at only 163 grams, compared to the P40’s 175 grams), and offers a firm, comfortable grip. It also boasts a 3D curved back design and comes in stunning colourways that are heavily inspired by nature. These include Breathing Crystal, Deep Sea Blue and Midnight Black.

The HUAWEI Y8p comes with HUAWEI Mobile Services and its own app platform, the HUAWEI AppGallery, which boasts a wide range of global and local apps making it the third-largest app marketplace in the world.

Live strong with iron campaign continues awareness creation with phase II

August 8, 2020

The second phase of the Live Strong with Iron campaign that is educating Ghanaians on the risks, symptoms and solutions of iron deficiency starts today with a renewed focus on reaching those at the highest risk.

According to the WHO, Iron Deficiency is the most common and widespread nutritional disorder in the world. In Ghana, Iron Deficiency affects approximately 42% of women of childbearing age and 66% of children under 5 years old. Signs of Iron Deficiency include headaches, tiredness, dull skin, hair loss, and reduced immunity.

In children under 2 years, iron deficiency can slow brain development and growth. Iron deficiency can also impact the outcome of pregnancy. As the next phase of this campaign kicks off, informative programs will be aired on leading radio and TV stations reiterating the importance of iron in keeping us healthy and productive.

The radio campaign will feature discussions structured to shine the spotlight on everyday real-life stories of women and children who are iron deficient, the impact it has on their daily lives and expert advice on the simple and locally available solutions to address it.

A leading expert on the campaign and immediate past Dean of the School of Biological Sciences at the University of Ghana, Professor Matilda Steiner-Asiedu, has strongly indicated that “Proper nutrition is a major component of sustainable development.

Without it, the wellbeing of individuals and families suffer and it impacts negatively on the economy. Realizing that iron deficiency is prevalent in Ghana, it is important for all actors to come together to help create awareness for Ghanaians to eat foods rich in iron to curb the rate of the deficiency in Ghana”.

Professor Steiner noted, “It is very imperative to help people in making the best choices of nutritional meals for themselves and their families. Making the best choices begins from our mindset and paying critical attention to the things we buy for our daily meals. These are our everyday affordable iron-rich local foods as well as products fortified with iron will help preserve the most productive lives that we clearly want to have now and in the future without any health complications arising from Iron Deficiency”.

In addition to the radio campaign messages, a series of informative articles will be published online and in local newspapers. The new phase will be very engaging and interactive to ensure the everyday Ghanaian is well informed.

Following the campaign launch in October last year on the World Food Day, the Live Strong with Iron campaign seeks to reach and sensitise the high-risk groups and inspire a behaviour change through simple nutritional solutions such as eating iron-rich and iron-fortified foods to prevent iron deficiency in Ghana.

“Including iron-rich foods such as kontomire and other dark green vegetables, agushi, red meat, beans, eggs, chicken, and iron-fortified foods and drinks in our daily meals can prevent iron deficiency anaemia. In addition, snacking on groundnuts, cashew nuts and dried fruits which are some good sources of iron can go a long way to complement meals”, added Professor Steiner.

Iron-fortified foods are affordable and readily available everywhere, they play a key role in helping to close the iron-deficiency gap. While Ghanaians may be surprised at the staggering numbers of women and children suffering from Iron Deficiency, this can be curtailed.

With a purpose of “unlocking the power of food to enhance the quality of life for everyone, today and for generations to come”, Nestlé’s Corporate Communications and Public Affairs Manager Deborah Kwablah highlighted that, “Nestlé believes in sharing and applying nutrition knowledge as a means to helping bridge the nutritional gap including iron in Ghanaian communities. Together with key actors, we can accelerate actions to achieve Sustainable Development Goals 2 and 3 – Zero hunger and Good health and wellbeing, respectively.”

In achieving this objective, all stakeholders including health experts and policymakers, dieticians, media among others are urged to support the campaign and help in fighting Iron Deficiency in Ghana.

The Live Strong with Iron Campaign is championed by Nestlé, the Good Food, Good Life company in Ghana and will be scaled up in other West and Central African countries.

GTA embarks on tree planting exercise at Yumba Special School

August 8, 2020

The Northern Regional office of the Ghana Tourism Authority (GTA) has embarked on a tree planting exercise at the Yumba Special School in Tamale in the Northern Region as part of the activities earmarked to commemorate this year’s Emancipation Day celebration.

The regional office procured 100 seedlings such as Mahogany, Nim, Teak, Cassia, Papoa, Terminilia and Indian Harmon from the Forestry Commission and planted all over the premises of the school in an organized manner to provide a conducive environment for academic work as well beautify the school.

The exercise was carried out across the country under the auspices of the Ministry of Tourism, Arts and Culture in collaboration GTA to help plant more trees to promote a green and healthy nation. Emancipation Day Celebration is an international event observed on August 1, every year to celebrate the resistance and liberation of Africans in the Diaspora against enslavement and human rights violation.

The national celebration is on the theme ‘Our Heritage, Our Strength’, with a sub-theme: ‘Leveraging Our Resilience; Black Lives Matter”. Beyond the Return’. It is a follow-up to the successful Year of Return Ghana 2019 campaign which commemorated the 400th Anniversary of the arrival of the first recorded enslaved Africans in Jamestown Virginia in 1619.

The landmark campaign also celebrated the resilience of the African over the past 400 years and welcomed all people of African origin to return to Africa especially Ghana.

Speaking after the exercise, the Regional Manager for GTA, Alhaji Hakeem Ismail said, the tree planting was part of GTA commitment to replace the lost trees to mitigate climate change.

According to him, trees are a crucial factor to human existence not only because they produced food but also because they play an important role in the carbon cycle and that tree filter water bodies, provide habitat to terrestrial biodiversity, absorb harmful carbon from the atmosphere, and are serve for medicinal purposes.

“We believe that if every Ghanaian decides to plant and grow one tree, the country would have 20 million trees to reverse the forest and institutions depletion. This is why we procured the seedlings and grew them at the school and it is our belief that this tree-planting project will inspire Ghanaians and other organisations to start thinking about the planet and how they can also contribute,” he added.

He explained that the event was designed to help Africans to reconnect and rededicate themselves to the lessons of history. He appealed to other organisations, religious bodies, communities and social groups to extend support to other institutions to grow more trees in the environment.

The Headmaster of the school, Ishmael Tutu Brempong, commended GTA for choosing the school to plant the trees and that it would go a long way to protect the lives of the children. He said children with special needs tend to face a host of discriminatory social practices because of negative cultural attitudes that limit their integration into society.

He said the school sought to provide vocational training for these children to equip them with skills that will help integrate them into their communities. He appealed to the public to assist the government to improve education at the special schools for a better future.

Albert Ocran talks motivation, relationships and more on the Y Leaderboard Series

August 8, 2020

Internationally acclaimed motivational speaker and Pastor, Albert Ocran, has joined the group of great leaders who have appeared on the trendsetting Y Leaderboard series on Ghana’s number one urban station, YFM.

The awe-inspiring and enjoyable conversation between Albert Ocran and Rev. Erskine on the latest edition touched on the leader’s journey in public speaking, marriage life, authoring and his school days at Mfantispim among others.

Albert stated that among other things, one of the greatest lessons he learnt from his alma mater, Mfantsipim Senior High School was that, what a person is told over and over again can influence one’s outlook.

According to him, “from day one, you are told you are in the best school. And you are told over and over that you are among the best; you are hanging out with the best people. So literally everyone believed that we were in the best place and the best company and it did influence how we carried ourselves; how we spoke, how we thought.”

He believed that parents could adopt this positivity strategy to train and shape their children. He revealed that he was not always the bold public speaker who motivates people with his words. However, as he learned the art of public speaking, he has developed the skill of public speaking.

In his opinion, everything in this life is “learnable” and as such people must move out of their comfort zone to learn new things.

Commenting on how he has become one of the greatest public speakers internationally recognized, he stated, “I never thought I will be a public speaker or anything. I just wanted to live a quiet life. Development much later in life was to shape much of me but it was not something I fathomed in the least I was going to be.”

As one who is recognized for highly inspirational books he authored with his wife Comfort Ocran, Albert shared the vision behind as he said, “We set out to provide an outlet where the thoughts that we were canvassing could be documented for the benefit of young people. It was always about young people.”

While Albert does not view himself as a perfect role model for married couples, he believes that they can learn a thing or two from his marriage life.

According to him, he still learns new things even after many years of marriage. “Even after twenty-seven years of marriage, I still see myself as a learner. It is just every day, one step at a time, exploring the journey. I tell people plain honestly that some of the things that people divorce about, we went through it and we decided just to work it out. It is a very complex situation.”

He advises, “Very often, I think that the things that people go to war over are resolvable. If we will just breathe in and accept that we are different people but we have decided to do this for life, let’s work it out.”

Programmes Manager for Y FM, Eddy Blay, speaking on the interview with Albert Ocran noted, “It is great to know that every week, YFM makes an effort to motivate the youth was inspiring stories from great leaders like Albert Ocran. Albert, in all his activities, is all about motivating and challenging the youth. Today’s session with him has been very educative. I believe Albert has certainly impacted the youth in Ghana in a positive way.”

Huawei overtakes Samsung as top handset seller in 2020 second quarter

August 7, 2020

Huawei Technologies has snatched the title of biggest smartphone seller from Samsung Electronics in the second quarter of 2020, according to results released and vetted by research firm Canalys. Huawei shipped a total of 55.8 million phones in the second quarter, beating the 53.7 million shipped by Samsung for the top spot.

Huawei shipped 55.8 million devices in the April-June period, trumping Samsung’s 53.7 million according to data from research firm Canalys, underscoring the China market’s resilience even as global demand for phones plunged amid the pandemic.

Apple sits comfortably in the third place with somewhere between 40 to 45 million, with the exact numbers still being confirmed as of the time of publication. Xiaomi and Oppo finished fourth and fifth with 28.8 million and 25.8 million respectively.

The Chinese company has felt the heat of U.S. sanctions which have disrupted its business overseas, but the latest numbers show its rising dominance in its home market.

Huawei’s sales fell 5% from the same quarter a year earlier, while South Korea’s Samsung posted a 30% drop due to weak demand in key markets including Brazil, the United States and Europe. “Our business has demonstrated exceptional resilience in these difficult times,” a Huawei spokesman said. Domestic sales rose 8%, but Huawei’s overseas shipments fell 27% in the quarter.

Huawei sold nearly two-thirds of its handsets in China, which took an early hit from the coronavirus pandemic but has since reclaimed ground as new cases have dwindled. Smartphone makers’ dominant in other countries are still struggling as new virus cases continue to rise.

According to Andreas Zimmer, Huawei’s app store head of ecosystem and software strategy, the number of people in Europe using Huawei Mobile Services (Huawei’s alternative to the banned Google services) has grown from 530 million to 700 million from Q1 2019 to Q2 2020.

Cheaper cocoa may not be a recipe for lower chocolate prices

August 7, 2020

Cocoa value-chain remains critical to economy – UMB Boss

Chocolate fans will not necessarily benefit from predictions of a fall in cocoa prices this year. A Reuters poll of London cocoa futures published on Monday forecast cocoa would cost 10% less at the end of the year because of rising production and a hit to demand from the coronavirus crisis.

But chocolate bars will not necessarily get cheaper – partly because the price of cocoa is only one ingredient in the mix that makes up the retail price.

Demand hit by lockdowns

The impact of coronavirus lockdowns curbed impulse buying of chocolate, as people focused instead on stocking up essentials. And a bleak economic outlook is expected to hit demand for luxuries like chocolate in coming months, while sales at celebrations such as Halloween are likely to be weaker than normal.

Not just cocoa

Apart from cocoa, there are lots of other costs which contribute to the price of chocolate bars. These include other ingredients such as sugar and sometimes milk or nuts, as well as packaging, marketing, transportation, taxes and retailer margins. The cost of cocoa is therefore just one element in determining the price.

Premium Cocoa

Chocolate makers do not generally buy their cocoa on the futures markets in London and New York which attract cocoa – which meets the futures contracts’ specifications but is not high enough quality for many of their products.

The manufacturers instead buy in the physical market, where they generally have to pay a premium for the quality they need. In the upcoming 2020/21 cocoa season, which begins on Oct. 1, chocolate makers will also pay an additional US$400 a tonne for supplies from top producers Ivory Coast and Ghana as part of a plan to combat farmer poverty.

Product Adjustments

Chocolate makers often prefer not to change the price of a product but are more likely to adjust size or quality.

The makers of Toblerone, for example, in 2016 introduced larger gaps between the triangles of certain sized bars after a rise in the cost of ingredients, but later changed them back.

More subtle changes can also be made, such as thinning or thickening the chocolate-coating on some confectionery products.

Source: Reuters

UBA provides US$200m for Nigeria’s petroleum industry

August 7, 2020

……timely financing for post-COVID-19 economic growth

The United Bank for Africa Plc (UBA), the leading pan-African financial services group, has acted as the lead arranger for a consortium of Nigerian commercial and international banks in a US$1.5billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

UBA is providing US$200million (Naira equivalent) to support investment growth and liquidity requirements. The facility will provide much-needed capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of foreign exchange earnings. UBA’s position as Lead Arranger recognises the Group’s strength in structuring and deploying financing to the oil and gas sector, and the depth and liquidity of the Group’s balance sheet.

The US$1.5billion facility is structured in two tranches. The first tranche of US$1billion, to be repaid over a period of five years, will be provided in dollars with UBA acting as the Facility Agent Bank. The second tranche of US$500million will be provided in local currency over seven years with UBA acting as Lead Bank, providing US$200million in Naira equivalent.

Both facilities will be repaid from an allocation of 30,000 barrels per day of NPDC’s crude oil. UBA has a strong track record in the resources sector across Africa, having facilitated oil prepayment deals with the NNPC – including its 2013 US$100million participation in the PXF Funding Limited transaction, and a further US$60million in the 2015 Phoenix Export Funding Limited transaction. In Senegal, UBA was responsible for the €240m revolving crude oil financing facility for the Société Africaine de Raffinage; and in Congo Brazzaville co-funded the US$250m crude oil prepayment facility for Orion Oil Limited.

Other participants in the NNPC deal include Standard Chartered Bank, Afrexim Bank, Union Bank and two oil trading companies, Vitol and Matrix.

Speaking on this most recent support for Nigeria’s petroleum industry, UBA Group Chairman Tony O. Elumelu stated: “This has been one of the most economically challenging years that Nigeria has witnessed. With the sharp drop in the price of oil and the ensuing hardship that followed the onset of the Covid-19 pandemic, the private sector must come together and contribute meaningfully to the economy.

“This facility is clear evidence of this – UBA is providing an investment that will significantly improve Nigeria’s production capacity, and in doing so also demonstrating the strength, depth and sophistication of our commercial banking capability. I believe that together, working with governments, we can create more jobs and more wealth for people – not only in Nigeria but across Africa”.

The United Bank for Africa is one of the largest employers in the financial sector on the African continent, with over 20,000 employees and serving over 20 million customers. UBA operates in 20 African countries and globally in the United Kingdom, the United States of America and France, providing retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

COCOBOD’s electronic scales to halt tampering ready in 2021

August 7, 2020

Management of the Ghana Cocoa Board (COCOBOD) has moved to end the practice of weighing-scales tampering with fresh preventive and punitive measures.

Cocoa buyers in the West African nation have come under fire after a media exposé revealed systemic cheating of cocoa farmers through adjustment of analogue weighing scales.

According to the Multimedia Group’s investigative report ‘Missing Kilos’, some cocoa buyers dishonestly adjust their weighing-scales to steal as much as 100 kilogrammes of cocoa beans per farmer.

Now responding to the development in the media at a higher level, the country’s cocoa sector regulator, Ghana Cocoa Board, commended the work done by Multimedia – though calling it “belated”, as it did not capture measures it has already introduced to address the canker, including electronic scales.

Deputy Chief Executive of COCOBOD in charge of operations, Dr. Emmanuel Opoku, told the media in Accra that management has over the past couple of years adopted stricter measures to eliminate the canker of cheating poor cocoa farmers.

“COCOBOD has put in place a punitive measure to surcharge any defaulting LBC with the monetary equivalent of the aggregated weight from cocoa sheds across the country that the LBC in question may have short-changed the unsuspecting farmers, once GSA confirms adjustment of such weighing-scales,” he said.

In addition, the regulator upon advice from the Ghana Standards Authority (GSA) last year adopted the introduction of Electronic Scales as a preventive measure to scale tampering.

Dr. Opoku reiterated that the reform or preventive measure involves the introduction of GSA-recommended electronic sealable weighing-scales which meet a set of tamper-proof standards – so that scale adjustment will be a thing of the past.

He added that to provide the needed guidance and ensure a smooth rollout of this reform, the decision has been taken to import electronic sealable weighing scales, starting this year, and distribute them at a cost to the LBCs.

The Cocobod management, however, explained its electronic scales will only be available from 2021, thus until then vigilance of all stakeholders is critical.

“Obviously, continuous monitoring and policing will be necessary to ensure the effective implementation of such a measure to eliminate a systemic problem. The media’s work in shining a light on the situation and improvement as we progress, as well as the vigilance of our field staff and the cocoa farmers themselves, will together play a crucial role in eliminating this cocoa canker,” the Cocobod Deputy Chief noted.

Dr. Emmanuel Opoku stressed that Cocobod’s initial target was to start from this October (2020), but was not able to get the times correct, everything correct, until recently; so starting this year is practically impossible.

Cocobod has in view of the ensuing development targetted next year to fix it – because when the electronic scales arrive, all LBCs must use them.

Cocobod will also require the Ghana Standards Authority to ensure that everything is intact, so targetting next year is for Cocobod to make sure all measures are effectively put in place for a successful roll out in 2021.

Editorial: Banks’ role in post-COVID-19 economic resuscitation

August 7, 2020

B&FT yesterday held its fifth in the series of ‘Ghana’s Most Respected CEOs Breakfast Series’ with the theme ‘Bringing the Economy Back to Life: The Role of Banking and Finance’, where the Country Director for Deloitte Ghana, David Kwadwo Owusu, who was a panel speaker noted that with the end of COVID-19 still unknown, banks need to capitalise on new opportunities and innovations and take decisions which guarantee their survival amid and beyond the pandemic.

He added that banks will have to consider liquidity management, risk management and profitability strategies to survive the storm. Mr. Owusu also stated that banks should take advantage of opportunities stemming from the surge in the use of online platforms.

Without doubt, COVID-19 has increased the use of technology in the banking space which has accounted largely for many of them staying afloat and not facing major liquidity challenges.

There is little doubt that people are now doing a lot more transactions via the Internet, and so banks need to be a lot more innovative and capitalise on the new opportunities.

If there is any sector that can stimulate and revive the economy amid the devastating impacts of the Coronavirus pandemic, then it is the banking and financial sector.

The virtual webinar brought together business leaders and banking experts to deliberate on how financial institutions can successfully navigate the COVID crisis, support businesses, revitalise and revive the economy, and ultimately spur economic growth.

Measures introduced by the central bank in March to reduce the negative impacts of Coronavirus on the financial sector and economy include a reduction of the Primary Reserve Requirement from 10 percent to 8 percent, and reduction of the Capital Conservation Buffer (CCB) for banks from 3 percent to 1.5 percent.

The Bank of Ghana also ordered Banks and Specialised Deposit-Taking Institutions (SDIs) to suspend the declaration and payment of dividends or distribution of any reserves to shareholders, and for making any irrevocable commitments until further notice.

However, banks are still waiting on the central bank to offer specific guidelines on the measures introduced, since being without timelines and durations makes planning difficult, according to John Awuah – Deputy CEO of the Ghana Association of Bankers.

The guidelines, we understand, are under preparation.

Editorial: Cheating cocoa farmers who toil for the economy is sad

August 7, 2020

The issue of Cocoa Produce Buying Companies (PBCs) adjusting their scales to cheat cocoa farmers of their due is not only sad but unconscionable.

A private broadcasting station’s latest investigative documentary ‘Missing Kilos’ exposed the stealing of cocoa beans by clerks in licenced cocoa buying companies of the country. The documentary threw light on some challenges cocoa farmers face, which include the adjustment of scales by PBCs.

Cocoa is the country’s most important agricultural commodity and mainstay of the economy. It is Ghana’s second leading foreign exchange earner – worth about 30 percent of all revenue from export, and responsible for about 57 percent of overall agricultural export.

However, despite its importance to Ghana’s development, many cocoa farming families live in poverty. The high cost of farming inputs also affects farmers’ incomes. The seasonality of cocoa farming means that incomes are not consistent year-round, and cocoa farming families experience heightened economic vulnerability and deepened poverty during off-seasons.

With low earnings and weak economic resilience, cocoa farmers struggle to meet household needs. That is why it is even more surprising that, in spite of their obvious penury, produce buying companies still try to cheat the farmer of his/her due.

As a result of the expose’, Ghana Cocoa Board (COCOBOD) says it is taking steps to rectify this anomaly. Consequently, COCOBOD is to procure the Ghana Standards Authority (GSA) recommended electronic sealable weighing-scales as part of measures to stop cheating in the cocoa purchasing value chain.

This is a welcome development because the unrewarding nature of the venture has caused a number of cocoa farmers to trade-off their farms to illegal miners – which is a threat to the sustenance of the cocoa industry and, by extension, the larger economy.

Thankfully, the electronic sealable weighing-scales are tamper-proof to safeguard cocoa farmers from being short-changed by Local Buying Companies.

Deputy Chief Executive in charge of Operations at COCOBOD, Dr. Emmanuel Opoku, at a press conference said the new scales will be available for use in the next cocoa season.

He said COCOBOD has put in place a punitive measure to surcharge any defaulting LBC with the monetary equivalent of the aggregated weight from cocoa sheds across the country. We earnestly hope that these measures will put a stop to the practice of short-changing the country’s hardworking cocoa farmers.

This is crucial to make the venture attractive for the youth who are running away from the sector.

IFS’ Assessment of Government’s Fiscal Policy Amidst COVID-19

August 7, 2020

Introduction

Since the outbreak of COVID-19 in Ghana in March 2020, economic policymaking has been dominated by measures to address the many impacts of the pandemic. In particular, fiscal policy has been deployed on a massive scale to shore up the public health response to COVID-19 and also lessen its effects on the economy. According to the government, taking strong efforts now to tackle the COVID-19 shock will pay off eventually by accelerating the country’s recovery from this unprecedented crisis.

In addition to policies introduced since March, the government recently announced Ghana CARES Obaatan Pa Program, a GHȻ100 billion development initiative designed to mitigate the economic challenges brought about by the pandemic. The program is expected to be rolled out over the next three and a half years, with the first phase of implementation covering the second half of 2020.

Given its estimated large financing requirement, Ghana CARES Obaatan Pa Programme deserves a full and thorough assessment. However, the complete scope of the program, together with the details of the policies and funding strategies, is not yet known. For this reason, this assessment will focus on the fiscal policy response to the pandemic so far. Before doing that, however, we will first discuss the economic growth context for fiscal policy amidst COVID-19.

Economic Growth Context

After averaging an annual growth rate of 7% in the last three years, the economy had been expected before the outbreak of COVID-19 to maintain a rapid rate of expansion in 2020, with real GDP forecast to grow by 6.8%, according to the 2020 Budget. From this initial rate, real GDP is now predicted to grow by just 0.9% in 2020. This reflects the effects of the pandemic on economic activities due to the public-health emergency restrictions adopted to control its transmission in the country.

The 0.9% forecast is worse than the 1.5% growth rate that was contained in the Finance Minister’s March 30 statement to Parliament. It is even much lower than the 2.5% growth rate predicted by the Bank of Ghana in its March 18 Monetary Policy Committee press statement. This means the pandemic is expected to show worse effects on the economy than earlier projected. The grim fact is that a growth rate of 0.9% would be the lowest in almost four decades. However, the brighter side of the forecast is that the Ghanaian economy is not expected to experience a contraction as is the situation for many other economies, including some peer countries in sub-Saharan Africa.

The projected steep reduction in economic growth will be driven by a 0.8% contraction in services, with output from the domestic trade, hotels & restaurants, real estate, and transport & storage sub-sectors expected to shrink in real terms. Before the pandemic, services had been forecast to grow by 5.8%. Industry is predicted to grow by 0.8%, against a pre-pandemic projection of 8.6%. Of this, the oil and gas sector will be a negative contributor as it is expected to contract by 7.7%. Manufacturing is projected to grow by 0.5%, which is considerably less than the pre-pandemic forecast of 6.8 percent. Agriculture is expected to grow by 3.7%, down from a pre-pandemic projection of 5.1%. This means agriculture is expected to be both the least-affected sector by the pandemic and the main contributor to the projected 0.9% overall real GDP growth rate.

The sharp fall in economic growth is likely to be associated with a reduced rate of job creation and employment. The services sector, which is the biggest and most job-intensive sector of the economy, is also the hardest-hit by the pandemic. This situation is likely to amplify the effect of the crisis on employment. Already, the worst-impacted sub-sectors, such as tourism & hospitality, transport, and education, have begun to shed jobs as businesses reel from shutdowns and shrunken demand. This points to significant economic and social costs of the coronavirus pandemic in Ghana.

Against this backdrop, in deciding how to reconfigure fiscal policy in response to the pandemic, the government was expected to take into consideration the following three challenges: (1) dealing with the erosion of fiscal revenue due to the economic impact of the pandemic; (2) providing the necessary public resources to battle the pandemic and introducing interventions to limit the economic fallout; and (3) ensuring that the fiscal policy choices made were well-targeted, prudent, efficient, and likely to be effective in addressing the problems caused by the pandemic.

Analysis of 2020 Fiscal Policy Amidst COVID-19

Before we discuss the government’s fiscal policy amidst COVID 19, let us first analyze the country’s fiscal position by the end of 2019 and thus before the pandemic hit Ghana.

3.1 The Fiscal Position by the End of 2019

In 2019, Ghana’s fiscal position was already in a very precarious state. It showed a country that was poised to struggle fiscally if even no disaster occurred. Simply put, by the end of 2019, the government’s financial position was such that the ability of the government to enhance economic growth and development through infrastructural development or even maintain the existing ones was enormously curtailed.

This is because in 2019, the government was able to collect GHȻ53.38 billion in total revenue and grants, representing only 15.3% of GDP and thus 1.8 percentage points below the initial budget forecast of 17.1% of GDP. On the other hand, the government spent as much as GHȻ31.01 billion to service its debt alone (GHȻ19.77 billion in interest payment and GHȻ11.24 billion in principal repayment — amortization). The government also spent GHȻ22.22 billion as employee compensation in 2019. Therefore, the sum of these two expenditure items alone stood at as high as GHȻ53.23 billion, representing 99.7% of the total revenue and grants, which is virtually the entire total revenue and grants. It should be known that these two expenditure items box the government in, in the sense that they are extremely sticky downwards – they are very rigid or inflexible. What is more important is that they limit the ability of the government to spend on developmental projects, which are needed to help grow the economy and improve upon the socio-economic wellbeing of the people

As Figure 1 shows, 2019 adds to 2000 (the year which saw a severe terms-of-trade shock and which preceded the HIPC declaration) as the only years during the Fourth Republic that these two expenditure items alone have been about 100% or more of total revenue and grants. We can see from the figure that this ratio stood at as low as 48.6% in 1991 and 54.7% in 2007, following the implementation of the Economic Recovery Program and HIPC conditionalities respectively. It is important to point out that the large ratios recorded in 2000 and 2019 were driven largely by excessive rates of debt accumulation, which shot up debt service expenditure, even though the high growth rate of employee compensation cannot be overlooked.

Implications and consequences

In 2019, monies in excess of employee compensation and debt service expenditure needed to meet the other budgetary expenditure items had to be borrowed.

Note: The other expenditure items include:

Goods and services (which captures most of the Free SHS-related expenditures)
Capital expenditure
Earmarked/Statutory transfers, including transfers to GETFund, NHIF, DACF, GNPC, the Petroleum Funds (the Stabilization and Heritage Funds), etc.
Other expenditures

What is more troubling here is that, for the statutory funds, portions of specific revenues are required to be transferred. Yet, transfers from these revenues prove to be difficult, since those portions are also needed to service debt and pay for employee compensation, the two most urgent expenditure items.

By the end of 2019, the country had clearly fallen into a debt trap, since borrowing was no more a choice but an imposition by the fiscal state of the country. This cycle can only be reversed if (1) revenue is able to grow at an unusually high rate, (2) growth in employee compensation drastically reduces, (3) there is debt forgiveness as happened in the 2000s, or (4) a combination of some or all of the above occurred. However, none of these was easy to achieve in practice, even before the pandemic hit.
As a ratio of total revenue and grants, capital expenditure, which is needed to expand the productive base of the economy, decreased to the lowest levels in 2018 and 2019 since 1983. This is demonstrated in Figure 2. We can see from the figure that in 2018 and 2019, capital expenditure as a ratio of total revenue and grants stood at as low as 9.7% and 11.5% respectively. The reason for the low ratios in 2018 and 2019 is that the size of debt service expenditure and employee compensation is so huge and rigid that, not much room can be created to accommodate capital spending. This is exactly what happened in the 1990s, which sharply decreased the ratio from 68.0% in 1992 to 17.3% by the end of 2002.

3.2 2020 Fiscal Policy

We can see clearly from the above analysis that by the end of 2019, the fiscal position of the country was poor and fragile. Therefore, any negative shock was poised to hit the country hard fiscally.

However, because the pandemic was devastating even rich and advanced economies when it began to hit Ghana, we at IFS commend the government for taking swift actions to secure financial resources to help the country’s fight against the pandemic and bring some relief to the vulnerable in the society. Thus, borrowing to help fight the pandemic was unavoidable, given the limited nature of government revenue, which, as already discussed, was only sufficient to cover employee compensation and debt service expenditure, even before the pandemic hit.

Given the nature of the threat the pandemic posed – and still poses – and the poor fiscal state of the country, it was expected that additional expenditures that are not essential in the fight against the pandemic and to alleviate its economic effects on the vulnerable would be rejected by the government, despite 2020 being an election year. It was also expected that existing revenue sources would be carefully guarded. Yet, since the pandemic hit the country, the government has taken certain fiscal policy actions that are quite head-scratching, and which were reflected in the 2020 Reviewed Budget. These include:

The announcement of a 15% salary increase for civil servants in March 2020 after the pandemic had already hit the country and when a lockdown was imminent, given the kinds of personalities and organizations that were calling for a lockdown. This was against the backdrop of the fact that in many countries that had been hit by the virus, salaries had begun to be reduced.
As said above, while it was commendable on the part of the government to help the vulnerable cope with the pandemic, including ensuring that their access to water in the face of the pandemic was not restricted by affordability issues, the government went ahead to provide free water for all from April to June 2020, including for those who were not vulnerable and were capable of paying for their water consumption. The free water for all has since been extended for another three months.
Again, while paying for the electricity bills of the lifeline and other vulnerable consumers in the face of the pandemic was the right thing to do, the government decided to pay half the electricity bills from April to June for all other consumers, including the well-to-do who could have afforded to pay themselves.
While the pandemic has significantly affected revenue mobilization because of the projected decline in economic growth, and in the face of the pandemic-related expenditures, which have compounded the expenditure problems explained earlier, the Minister of Finance has announced that the communications service tax will be reduced effective September 2020.

The questions that arise are:

What is actually driving these head-scratching fiscal decisions and choices in the face of COVID 19, whose end is still not yet known?
Is the government not aware that the country’s fiscal position was already in a precarious state before the pandemic hit?

Is the government again not aware that it was too much borrowing that landed the country in the state in which it found itself in the 1970s and 1990s, which caused the country to call on the IMF and the World Bank for an economic bailout in the 1980s and debt forgiveness in the 2000s?

The 2020 revised budget clearly demonstrates that the country’s fiscal position has dramatically worsened. Total revenue and grants for 2020 is now projected to be only GHȻ53.7 billion. However, total debt service expenditure is now projected at GHȻ38.5 billion while employee compensation is projected at GHȻ27.1 billion. Therefore, the sum of these two expenditure items alone is projected at GHȻ65.5 billion, thus exceeding total revenue and grants by as much as GHȻ11.8 billion or 22.1% of the total revenue and grants. Therefore, in 2020, the government has to borrow to the tune of GHȻ11.8 billion or 22.1% of total revenue and grants before it can fully service its debt and pay for employee compensation alone. This is unprecedented in the Fourth Republic, and perhaps in the country’s fiscal history. It should be noted again that all the other expenditures as listed above remain (which also have to be funded through borrowing). Figure 3 depicts the sum of employee compensation and debt service expenditure as a ratio of total revenue and grants from 1991 to 2020, using the projected data in the revised budget for the calculation of the 2020 ratio.

While it is true that the pandemic is what has mostly caused the bad fiscal position at the end of 2019 to dramatically deteriorate in 2020, the head-scratching choices of the government listed above have added some fuel to the fire.

How Can the Country Get Out of this Fiscal Predicament?

Given the country’s poor and delicate fiscal position, which has dramatically worsened due to COVID-19 and some of the policy choices of the government, we recommend that the government should:

Refrain from engaging in fiscal populism despite the looming 2020 elections, in order not to compound the country’s fiscal problems. Indeed, a critical analysis of the economic history of Ghana reveals that fiscal populism has been one of the main causes of the country’s recurring fiscal and economic distress since independence.
Immediately seek debt reliefs, including debt forgiveness, from its major creditors so as to minimize the enormous size of the country’s debt service expenditure, which is consuming the biggest chunk of the country’s revenues (projected to be 71.6% of total revenue and grants in 2020).
Take steps to reduce the rate of growth in employee compensation in order to minimize its relative size over time. For specific recommendations on this, we recommend that the government should consult the Institute for Fiscal Studies (IFS) Occasional Paper No. 22, entitled “Ghana’s Large Public Sector Compensation Bill: Agitations, Policies, Implications, Causes and Recommendations”.
Take steps to generate more revenue, particularly from the extractive sector of the economy in the short to medium term. The IFS is happy to announce that it is conducting a study on government revenue generation from the country’s extractive sector. We give the assurance that we will be prepared to share our findings and recommendations with the government upon the completion of the study.

MTN delivers strong first-half results amid COVID-19 challenges

August 7, 2020

Eyes Africa
Orderly exit of the Middle East over the medium-term.

MTN Group has reported encouraging results for the first half of 2020, navigating well through the economic crisis brought on by COVID-19.

MTN reported service revenue growth of 9,4% to R80 billion and EBITDA growth of 10,9% to R42 billion as efficiency initiatives saw its profit margins continue to improve. Headline earnings per share after non-operational impacts grew by 54%, operating free cash flow increased by 117,8% and ROE improved further to 14,1%.

“MTN’s first-half performance affirmed the resilience of our people and business model as we delivered strong results against the backdrop of unprecedented socio- and macroeconomic uncertainty and challenges,” said MTN Group president and chief executive officer Rob Shuter.

“As we navigate the pandemic and its effects, we have prioritised looking after our people, customers and networks while focusing on efficiencies,” he said, adding that work-from-home programmes continue for MTN staff; Y’ello Hope Packages are helping ease customers’ financial pressures, and MTN’s support for various other initiatives aims to limit the impact of COVID-19 on society.

MTN also announced it was focusing its strategy in future on the African markets: “As part of our ongoing portfolio review, we believe the group is best served to focus in the future on our pan-African strategy. We will, therefore, be exiting the Middle East in an orderly manner over the medium term. As a first step we are in advanced discussions to sell our 75% stake in MTN Syria,” said Shuter.

Inspired by the group’s belief that everyone deserves the benefits of modern connected life, MTN added 11 million subscribers in the first six months of the year to reach a total base of 262 million. By end of June 2020, MTN had 102 million active data users and 38 million active Mobile Money users.

Despite lockdown restrictions impacting network rollout, MTN Group invested R10 billion in capital expenditure across our markets and brought a further 54 million people into 3G and 4G coverage. The focus on the affordability of data saw the average rate per megabyte reduced by 34%.

The group made progress on the asset realisation programme, concluding the disposal of the tower company investments in Ghana and Uganda for R8,8 billion.

MTN did not declare an interim dividend given the continued uncertain impact of COVID-19 on the operating environment but will consider a final dividend should conditions warrant.

“While we expect the remainder of the year to be shaped by the ongoing challenges presented by the pandemic, we believe that MTN will remain comparatively resilient and is poised to sustain its growth over the medium term,” said Shuter

Businesses’ going concern in COVID-19 times

August 7, 2020

The COVID-19 pandemic has brought about or created a lot of uncertainty, which is making it difficult for businesses to predict the future in terms of their business operations. With a lot of lockdown restriction imposed by government(s) and closure of non-essential businesses, business executives are worried about their company’s ability to generate sufficient cash flows to support operations. Some companies are also struggling with their debt covenant, liabilities to stakeholders (such as employees, shareholders, suppliers, vendors), and this has or is affecting companies’ ability to continue operations under the going concern assumption.

As companies contend with economic impacts of the global pandemic and related risks, challenges and uncertainties posed, management should be prepared for heightened auditor scrutiny in areas with going concern relevance.

Although some companies, sectors and jurisdictions may be more affected by this pandemic than others, all companies across all jurisdictions need to consider the potential implications for the going concern assessment. It is clear that companies in highly exposed sectors that are experiencing declining demand, falling sales and margins are the most impacted; particular mention can be made of the travel and tourism, hospitality/ entertainment/ sport, retail and oil industries.

It must be pointed out that a profitable business might not necessarily be a going concern business, especially in periods of negative cash flow.

Going Concern is an accounting term for a company that has the resource needed to continue operating indefinitely until it provides evidence to the contrary. It is assumed that every business will continue to be in existence into the foreseeable future. Management of businesses need to assess the business going concern and assure stakeholders of its continuous existence for at least the next financial year. In performing their duties, External Auditors are expected to provide assurance over the going concern of the business.

Accountants who view a company as a going concern generally believe a firm uses its assets wisely and does not have to liquidate any of its assets.

In this COVID-19 time, the going concerns of businesses need to be assessed by finding answers to the following red flags questions:
• Has the business lost its major supplier or customer due to the COVID-19 pandemic? E.g. as is the case in the hospitality and aviation industries.
• Can the business survive if this pandemic continues for the next 6 months?
• Is the business able to meet its contractual obligations without substantial restructuring or sale of assets in this COVID-19 times?
• What do the financial trends of the business look like? Are the business’s financials looking positive or negative?
• Can the business reinvest in new product development?
• Has work operations come to a halt due to COVID-19? Are people patronising the goods and/or services of the business?
• Is it possible to access other sources of capital; and is there an ability to develop a reasonable forecast?
• Has the business operation come to a halt and labour force asked to go home?
• Are there legal proceedings against the company for breach of contract or non-performance of contract?
• Are there significant deteriorations in the value of assets used to generate cash flows?

Since it has been established that COVID-19 will impact on the going concern assessment of companies, companies are required to disclose material uncertainties that COVID-19 presents which may cast significant doubt on their ability to continue operations.

Significant judgement will be required as no two entities, even if operating in the same industry, will be the same – but at the end of the day there will be one central question to answer: will the company have sufficient cash flows to meet their existing obligations and alleviate any conditions that raise substantial doubt about the ability to continue as a going concern in this COVID-19 time?

Raising additional capital through debt or equity offerings, reducing compensation, deferring planned expenditures, cost rationalisation, employee layoffs or obtaining government stimulus relief are some of the strategies business executives need to deploy when faced with going concerns risk in this time of COVID-19. Companies affected by the COVID-19 pandemic should take advantage of the various stimulus packages being offered by government and other institutions (such as banks and other financial institutions).

A change in business operation to reflect the current situation will also go a long to manage the going concern risk the company is exposed to. COVID-19 has taught us that remote working and digitisation is the way to go to survive. Innovations in the products and/or services rendered will go to helping stay afloat in times of uncertainty.

Another strategy that can be adopted to stay afloat during periods of uncertainty is to do or render better goods or services rather than concentrating on doing, producing or rendering more goods or services. Business Executives should re-evaluate and re-prioritise everything they do. They should evaluate their business offers against current and real-time needs by trying to answer the following questions:
• Is there anything that the business can start in this current situation?
• What business operations and/or products can we stop or scale back?
• What products or operations give us high-leverage to continue doing them?

A business-facing going concern risk in this COVID-19 time could manage the situation by getting creative and replacing marketing efforts with unconventional, low cost, high impact activities – such as launching a customer referral programme; building a social media contest for customers; making yourself and/or the business newsworthy, etc.

The last but not least strategy is for business executives to look to others for support and ideas. Get in touch with your chamber of commerce and industry players for resources and latest updates. This will help share ideas with others facing similar challenges and provide alternatives to come out best.

Even if management and auditors ultimately conclude that sufficient mitigating options are available to reduce the going concern risk to an acceptable level and disclose them in the audit opinion and financial statements, the presence of a going concern emphasis-of-matter paragraph – based on the language of the related debt covenants – could present a significant risk for a company. Management, in consultation with internal counsel and others, should carefully consider how a going concern opinion could impact their company’s ability to continue operating through the uncertain time ahead.

Would you mind doing me a favour? Share this article with someone so that the awareness about the effects on COVID-19 on business operations with regard to the business’ going concern will be spread.

If you require further information on this article, please contact Richieson @[email protected]

NPA rolls out 50% of buffer stock cylinders to support LPGMCs in a pilot programme

August 7, 2020

The LPG Marketing Companies Association of Ghana (LPGMCs) will be supported with 50 percent of their buffer stock cylinders to help with piloting the Cylinder Recirculation Model (CRM), the NPA Chief Executive-National Petroleum Authority, Alhassan Tampuli, has said

The Authority has so far committed more than 40,000 branded and fit for purpose cylinders toward the programme, which has so far been launched in Kade in the Eastern Region, Yendi in the Northern Region and Obuasi in the Ashanti Region. The latest addition is Jomoro in the Western Region.

Speaking at the launch, Mr. Tampuli said the shortage of gas cylinders where the pilots have so far been held shows the general public’s commitment to embracing the policy. He reiterated earlier calls to see the policy through despite any potential setbacks.

“Let me assure you that the National Petroleum Authority is poised to deal with possible challenges that may arise from the implementation policy.”

On recent agitation by some industry players for them to halt the exercise, Mr. Tampuli said their concerns have been taken and will be factored into the existing working document.

He said a total of 3,983 cylinders have been procured for Jomoro alone to augment the cylinders posted to the region.

“Already in your homes,” he says, “All you need to do is to pick up your empty cylinder, walk to the gas station, and exchange it for a filled cylinder.

“They are in different sizes ranging from 3kg, 6kg and 14kg; so it doesn’t matter the size of cylinder you have, your needs are catered for in this CRM pilot exercise. The procured cylinders are currently being branded in the colours and logo of the LPG”

Business conditions broadly stable during July

August 7, 2020

Key findings of Ghana PMI

New orders rise, but companies continue to lower activity
Employment scaled back again, but at a reduced pace
Purchase costs increase at the fastest rate since January

Business conditions in Ghana’s private sector were broadly stable again in July, mirroring the picture seen in June, an IHS Markit Ghana PMI survey has revealed

New orders picked up amid some signs of improving demand, but firms continued to lower output amid ongoing weakness caused by the coronavirus disease 2019 (COVID-19). A lack of pressure on capacity led to another reduction in staffing levels.

Purchase costs rose at a marked pace during the month, often reflecting higher fuel prices. In response, firms raised their selling prices for the third month running.

The headline seasonally adjusted Ghana PMI® posted 49.7 in July, unchanged from the reading in June and signalling stability of business conditions in the private sector for the second successive month.

New orders increased for the second month in a row during July, amid some signs of improving demand. That said, the rate of expansion was modest and slower than recorded during June.

Despite the recent pick-up in new orders, the severity of the COVID-19 downturn meant that underlying demand remained weak at the start of the third quarter. As a result, companies continued to reduce their business activity, extending the current period of decline to five months. The latest fall was modest and broadly in line with that seen in the previous month.

Companies also continued to scale back employment, albeit to the least extent in the current five-month sequence of job shedding. Spare capacity remained evident, with backlogs of work falling at a marked pace during July.

The rate of overall input cost inflation was sharp in July, quickening to the fastest in the year-to-date amid a marked increase in purchase prices. Higher purchase costs were linked to a number of factors, most notably higher fuel prices.

Also contributing to increases in purchase costs were material shortages and currency weakness.

In contrast to the picture for purchase prices, staff costs continued to fall in line with reduced workforce numbers.

Higher purchase costs led companies to raise their own selling prices in July, the third month running in which this has been the case. The rate of inflation quickened, but remained relatively muted.

As well as contributing to rising purchase prices, material shortages were linked to a further lengthening of suppliers’ delivery times. Border closures were also a factor behind longer lead times. That said, vendor performance deteriorated to a lesser extent than in June.

Fragile demand conditions led to a reluctance among firms in Ghana to hold inventories, thereby resulting in further reductions in both purchasing activity and stocks of purchases.

Hopes of a reduction in the prevalence of COVID-19 and return to more normal economic conditions led to optimism among companies regarding the 12-month outlook for activity. Moreover, sentiment strengthened to the highest since April 2018.

Commenting on the latest survey results, Andrew Harker, Economics Director at IHS Markit said:

“While Ghana’s economy seems to have left the worst of the COVID-19 downturn behind for now, the latest PMI data point to a return to stability rather than any strong rebound in output. Caution remains evident with regard to business activity, purchasing and employment, although companies are increasingly hopeful that the coming year will see the situation improve.

“Stronger cost inflation will not help matters, with companies already under pressure. Higher fuel prices were widely reported to have contributed to increasing cost burdens during July.”

The uniqueness of banking business

August 6, 2020

It is such a pity that modern Ghanaian society has become so polarized that freelance writers and especially those who choose to write on banking related issues have to be extremely careful in what they write, when, and even how to write, lest they are branded as belonging to this or that party, with all the discomforts arising therefrom.

It is as if sympathizing with this or that party is now abominable when, indeed, we have all accepted a multi-party system of political governance. Commenting on purely economic or governance issues has become problematic because objectivity is seen from incredibly biased lenses.

Objectivity has become relative depending on the commentator, and sometimes, laughably, on which part of the country the writer’s name is perceived to come from! But can we not have common grounds to agree rather than bastardizing every issue or initiative simply because it comes from the opposing camp?

In spite of these difficulties, one must still take a stand boldly, censored only by whether the issue is currently before the courts or not. Perhaps, it will help us all to appreciate that not all economists agree on the “best” way to solve a specific economic problem. Although the need to change the status quo is not usually in doubt, it is always the approach that differs.

Theories abound on whether to stimulate the economy through reflationary measures, tame the economy through inflation targeting, how to finance budget deficits or why deficits may be permitted, within what margins, and for what objectives, etc.

Academic arguments may also be propounded on whether economic growth triggers credit expansion or credit expansion rather promotes economic growth. Even the expression “vulnerable segments of the population” and how they should be helped can generate alternative views.

The interesting phenomenon is that, at any one time, the political ideology of the ruling government will determine which approach “best” solves a particular economic objective, within what time frame, and at what cost to the society.

I therefore sincerely long for the day when parliament will be filled with men and women with altruistic motives to lift the fortunes of this country to the next level, by supporting well-intentioned policies from the opposing party , or at least, proffering viable alternatives, devoid of pettiness and parochial political submissions.

That democracy is expensive is a well- known cliché but if all we get from this gargantuan expense is pettiness, then let us have some benevolent dictator like Paul Kagame or Lee Kuan Yew and move forward for once.

If you are wondering where this article is taking us, let me assure you that it is simple. In discussing the banking and financial sector, we must all allow cool rational heads to prevail in view of the sheer peculiarity of banking business through the ages.

We must critically and dispassionately assess the ramification of unfounded allegations and populist assurances. These must be made against sound economic principles that can positively impact the economic health of this country and its membership of the global community.

An analysis of what caused the collapse of Ghanaian banks recently show that misconduct or the absence of value –based judgment were the critical factors, rather than the ignorance of corporate governance rules or the lack of financial expertise among the bank executives. So why not concentrate on agreed metrics for proper conduct in the corporate space and enforce sanctions against those who breach rules rather than jumping to find which party or tribe they belong to?

We must collectively gravitate towards a culture where no individual is mightier than the financial system. To get to that destination requires that financial literacy and governance must become the preserve of those more articulate in the subject rather than the pedestrian discussions thrown on the airwaves and believed as gospel by a largely illiterate populace.

Understanding financials, the uniqueness of banks, how they operate and why they are stringently regulated are the focal objectives of this write up.

The financials, for instance, give an indication of the strength and sustainability of a bank. Reliance on these financials is however limited by the integrity we can place on those who prepared these financials, and against what assumptions. We have seen apparently strong financials of companies that went bust a few moments after publication of such financials.

A bank’s balance sheet is the representation of the superior or negative actions of especially the men and women at the helm of the bank. These operatives work under the laws of the country and must be seen to be compliant to these laws. Sanctions must be exacted to bring them in line with acceptable norms, irrespective of nationality, tribe or political affiliation.

It is usually difficult for outsiders to evaluate the quality of bank assets and the significance of its liabilities and their composition, hence the usually scant understanding of the bank’s true financial health. For instance, modern banking does not thrive on “brick and mortar” edifices but on competent, honest, highly motivated staff. An array of robust, scalable, impenetrable and adaptable technological systems is a complementary vital resource.

Possessing imposing branches or head offices does not carry any distinctive advantages over competitors. Indeed, a disproportionate mix of non-earning assets over earning assets could be suicidal and pose a regulatory infraction.

The balance sheet does not tell that 40% of the credit portfolio is held by family and friends of the CEO or the board chairman or a significant shareholder or political figure.

A notable peculiarity of banking business is that up to 70 % of all threats to its integrity originates from within the internal domain. This reinforces the people element of operational risk in its risk profile, as with many service organisations.

A bank thrives on the trust and confidence reposed in it by its customers, particularly and that of other stakeholders, including the shareholders and regulatory institutions.

Any break in this trust can spell doom for the individual bank and produce negative systemic consequences on the entire economy.

Corporate governance of banks must therefore be distinguished from that of ordinary companies in view of the peculiar nature of the banking business, its complexity, the uniqueness of banks’ balance sheets, the need for protection of depositors’ funds and the systemic implications that a bank failure can have.

Banks’ balance sheets are peculiar compared to their other corporate peers. Liquidity is the lifeblood of a bank as opposed to its fixed asset infrastructure.

Another distinguishing feature of banks is that they serve several conflicting interests – from equity or debt holders to borrowers or depositors. Good governance, including social and environmental risk management, is therefore required to balance these competing interests.

The banks’ financials do not reflect the difficulties involved in recovering facilities, nor the dilemma the recovery team encounters in demanding repayments from persons who may have deployed these funds in their inordinate desire to acquire most of the plush buildings in Cantonments, Airport Residential Area and Roman Ridge in Accra.

Neither does the bank’s balance sheet show that depositors’ funds and Extended Liquidity Assistance have been siphoned by directors to acquire toxic or not too profitable assets in and outside the country. Only a subsequent forensic audit can reveal such improprieties.

The financials will not also tell you that other strong banks’ Asset and Liability Committees (ALCOs) have respectively decided to withhold further short term facilities to some ailing bank. Effectively, therefore, the ailing bank will come to a point when it is unable to meet routine withdrawals of depositors’ funds.

In an age of virtual communication capabilities, no amount of public relations expertise can diffuse a run on the bank which may lead to its eventual collapse.

To put matters into proper perspective, we can relate to the National Investment Bank Limited’s $68 million court case some few years back. This involved the issuance of some promissory notes to a counter-party. The transaction eventually went awry and had to be settled in court. At both the High Court and the Appeals Court, the bank lost in the rulings. The case proceeded to the Supreme Court where the learned judges overturned the earlier decisions that went in favour of the complainant, thus providentially saving the bank from imminent collapse.

All this while, the contingent liability had found just a little space in the bank’s financials as a “common disclosure” as required by accounting standards.

Just imagine if the bank had lost the case in the Supreme Court. It all supposedly started with the alleged conduct or misconduct of a CEO/Director and whether or not the right internal corporate governance processes were adhered to in the issuance and delivery of those instruments. Sixty- eight million dollars in those days of what started as “ a mere contingent liability” could easily have wiped off the entire balance sheet of the then National Investment Bank Limited.

What the balance sheet hides can also be a team of avaricious directors intent on owning a disproportionate share of communal wealth. It all boils down to the conduct or misconduct of the stewards (the board, management and staff), to determine the growth or decline of the bank. Thus, the ethical disposition of these agents and how this reflects in their decision making becomes paramount.

Strategies by themselves do not generate growth. Growth is generated by honest, competent operatives with altruistic motives in the discharge of their functions.

Unlike customer dissatisfaction with a particular brand of milk or some other tangible product, which may force customers to shun just that specific brand, they may continue to patronize other competing brands of milk or such other product.

However, mistrust of stakeholders in a bank creates contagion effects on even other strong banks and the entire financial system beyond the fortunes of the bank reeling under the reputational crises. The 2006-2008 American financial crises were a clear manifestation of this plague which affected even innocent pensioners in Norway, Iceland and other domains.

These observations, therefore, make it imperative that in discussing matters concerning banks, we must all be very circumspect and tone down any political connotations for the sake of the economy. The state will certainly outlive any political party. When people with little insights into how banks operate consciously pollute minds in the media under political colouration therefore, my heart grieves tremendously.

It is true that significant infractions that led to the collapse of some Ghanaian banks could have been handled differently. It is so easy to make that conjecture, when you are not the governor of the central bank carrying the onerous responsibly to safeguard the sanctity of the local financial system and our responsibilities towards the international financial system.

We must not, however, forget that some of those infractions if they had been permitted to continue, could have brought about the eventual collapse of those banks, irrespective of how long the central bank “allowed the wounds to fester”. Perhaps the effects could have been even more devastating than what we are currently experiencing.

We must not also gloss over the risk the country faced with international competitors and donors whether the collapsed banks went into voluntary liquidation or their licences were revoked by the Central Bank.

The governor has an arduous task of balancing the interests of bank boards, shareholders, investors, the general public and the ruling government. The latter usually carries a huge burden of how to fulfill the numerous and often conflicting election promises made to a highly expectant electorate during an election year.

To compound the governor’s dilemma, he also has the responsibility of ensuring compliance to IMF conditionalities which are supposedly pro- fiscal and monetary discipline but not always supportive of development in a third world context. And COVID-19 comes in to wreak even more havoc and throws up budgetary imbalances and monetary policy nightmares.

The governor still has to manage the national debt and report on this even if governments, past and present have accepted the crunching IMF conditionalities but have not always used the borrowing for their intended purposes to generate incremental wealth.

It is no mean task playing the role of a catalyst for stable economic growth and development while complementing the incumbent government’s goals, some of which may not necessarily be congruent to macro-economic stability.

An election year that is compounded by the COVID-19 pandemic makes it really daunting for any governor in an emerging market economy. Budgetary imbalances being experienced even in Europe and the US cannot escape any fair-minded commentator.

Truth be told, some of the revelations during the audit of the collapsed Ghanaian banks revealed improprieties that could hardly be tolerated in any jurisdiction. That some external auditors were found culpable of professional misconduct speaks volumes of the decay the banks involved had descended into.

The blame game and pronouncements regarding possible review of the current state must therefore take cognizance of the wider country risk analysis into the future and how these could affect our investment drive into or out of the country.

Let us therefore resolve to allow the Courts to determine the current cases for the sake of justice and our global competitiveness. Certainly, there are more than enough issues to fill political manifestoes for the electorate to make informed decisions, come December 2020. Ultimately the peace and prosperity of Ghana should be paramount as covid 19 has sufficiently demonstrated that there is no place like home.

The writer is a Fellow of the Chartered Institute of Bankers and an adjunct lecturer at the National Banking College, and the Chartered Institute of Bankers, a farmer and the author of “Risk Management in Banking” textbook.

Email; [email protected] Tel. 0244 324181 / /0576436414

Resolving commercial disputes post COVID-19: …the need for a ‘practical business approach’

August 6, 2020

The impact of the COVID-19 pandemic on commercial contracts is inevitable. Issues of inability to perform and inadequacy of performance of contractual obligations as a result of the conditions brought about by the pandemic would be prevalent among contracting parties in the coming months.

In all these, parties to commercial contracts are likely to resort to numerous dispute resolution mechanisms to obtain remedies for losses suffered as a result of breaches of contractual obligations. Mechanisms such as mutual discussions, negotiation, mediation, conciliation, arbitration and even litigation would all be employed by contracting parties in a bid to have their commercial disputes resolved. Rather unsurprisingly, litigation is likely to be the mechanism resorted to most by contracting parties.

Regardless of which dispute resolution mechanism parties resolve to utilise, the writer advocates for what she refers to as “a practical business approach” to solving commercial disputes arising out of the covid-19 pandemic. The reasons for this caution by the writer would be elaborated in this article. Also, suggestions as to the factors to be taken into consideration in the use of the “practical business approach” in the resolution of commercial disputes would be made.

It has been touted severally by global leaders and those at the helm of fighting this pandemic that these are not normal times. As a result, there is the need to adopt an approach to life and all that comes with it from a perspective that takes into consideration the ‘abnormal’ times the world finds itself in presently. This counsel must also be taken by businesses and contracting parties who intend to recover from the negative effects of the pandemic and move on into the future. This is not to say that persons who have suffered one form of loss or the other as a result of the pandemic must give up totally on getting remedies. Rather, what the writer refers to as ‘a practical business approach’ to solving disputes must be employed not only by contracting parties, but also adjudicators alike.

What then does the writer refer to as a ‘practical business approach’? This term is the writer’s reference to an acknowledgement by contracting parties of the effects, both actual and presumed, of the pandemic in the commercial world. There is the need to accept the fact that the effects of the pandemic will be felt by all globally and as a result, practical means of resolving disputes is required. Once this is done, it is likely parties would adopt an approach to resolving disputes which does not unduly punish the defaulting party for reasons that may not have been entirely within their control. Also, commercial disputes are likely to be resolved in a speedy and effective manner.

It must be stated from the onset that the writer’s idea of a practical business approach is not an attempt to posit that the traditional legal principles and laws for the resolution of disputes are to be disregarded in resolving commercial disputes. Rather, those long-standing principles and laws are to be interpreted and applied in a manner that promotes commercial business sense and guarantees a win-win situation at the end of the day, considering the current circumstances.

What then are some of the useful tips that would ensure that disputes arising out of the pandemic are resolved using the ‘practical business approach’?

Firstly, mutual discussions must be encouraged amongst contracting parties. A deliberate attempt must be made to resolve disputes arising from the current context amicably. Instead of immediately terminating contracts or heading to the courts or similar adjudicating fora, parties may want to firstly explore the possibility of resolving contractual disputes by themselves, without any external intervention.

The advantage of such an approach, regardless of how difficult it appears sometimes, is that it allows disputing parties to better appreciate the events leading to the breach of contractual obligations. With such understanding, they are able to fashion out solutions that take into account their peculiar circumstances. Depending on how one looks at it, encouraging and partaking in discussions may end up as a more beneficial approach, as opposed to litigation.

Obtaining reliefs from a court or similar adjudicating body, especially in a timely manner, and taking into consideration the current circumstances of the pandemic, cannot be guaranteed.

Secondly, in the event mutual discussions fail to produce results, parties should consider resort to what is referred to as Alternative Dispute Resolution (ADR). ADR is a reference to methods of resolving disputes other than through the use of litigation (litigation being the process of solving disputes in a court of law). Some mechanisms of ADR are negotiation, mediation, conciliation and arbitration.

It is not unusual to find in many commercial contracts, clauses requiring the use of ADR as a means of solving disputes that may arise from the agreement. In fact, ADR is constantly hailed as the preferred method for settling commercial disputes as a result of the numerous advantages it has, as compared to litigation.

It takes a relatively shorter period of time to have commercial disputes resolved through ADR as compared to litigation. ADR is also sometimes a less expensive method of resolving disputes and it is certainly more flexible than litigation. The flexibility in terms of procedure, as well as the informality of ADR, is also more likely to preserve business relationships as compared to the adversarial path litigation takes. For business people, ADR also presents an opportunity to have their legal disputes resolved by a person who is likely to have the necessary expertise in their particular field of work.

Thirdly, contracting parties must be willing to employ ‘good faith’ in finding solutions to their disagreements. Good faith is a principle of law recognized by courts in some jurisdictions (especially civil law countries) which requires parties to a contract to deal with each other fairly and in consideration of the interest of the other party, among other things. Although it has no single accepted meaning, it is generally a reference to the expectation of contracting parties to observe reasonable commercial standards of fair dealing and to avoid actions that frustrate the purpose of the agreement. It implies loyalty, fairness, sensitivity to other people’s business interests and trust.

These attributes at first glance, may sound very uncharacteristic of business relations. To the contrary, however, these are traits which when employed in business, promotes commercial success. In fact, it is not uncommon to find clauses in commercial contracts which require good faith in dispute resolution and even in the performance of contractual obligations. Due to the far-reaching effects of the COVID-19 pandemic, contracting parties ought to make a conscious effort to avoid actions that promote their interests alone, disregarding the interests of the other party.

Also, effective scrutiny of all the circumstances surrounding the inability to perform contractual obligations must be performed in determining liability and fashioning out remedies. Admittedly, certain contractual breaches in these times would not be solely as a result of the conditions brought about by the pandemic. It is likely that defaulting parties to commercial agreements may want to hastily blame their inability to perform on the conditions created by the pandemic, without more. Such posturing not only smacks of bad faith, but also hinders effective resolution of commercial disputes. The counsel to contracting parties is to carefully consider all the circumstances leading to a breach before concluding on the likely causes. Other factors, which may have even remotely caused the breach of contractual obligations, must all be considered before settling on liability. The circumstances of the pandemic must not be used by contracting parties as a cloak to evade their contractual obligations.
Finally, contracting parties must be willing to renegotiate commercial agreements to promote performance and avoid disputes. In the spirit of giving contracting parties the power to resolve disputes arising out of difficulties in performance, parties should consider taking a second look at the terms of earlier agreements, and making modifications if possible. Of course, a major consideration in taking this path is the possibility of a win-win situation; a renegotiation that would ensure that the interests of all parties are upheld. Contracts should not be terminated hastily. Rather, parties should take advantage of the doctrine of freedom of contract to find feasible alternatives that would ensure performance. .

It is worth mentioning that the measures suggested above relate to adjudicating bodies as well, with the necessary modifications. Mediators, arbitrators, judges and all other persons charged with the duty of adjudication would all benefit from taking the above factors into consideration when faced with commercial disputes arising out of the pandemic.

Particularly for judges and other adjudicators, there may be the need to adopt flexible approaches that would promote commercial business sense in the interpretation of commercial contracts. When faced with commercial disputes arising out of the covid-19 pandemic, the exigencies of the times must be considered in interpreting contracts. A strict, unwavering approach may not do! The abnormality of the current times must be considered in the resolution of commercial disputes, to the extent possible.

The writer is a legal practitioner and a Lecturer at the Faculty of Law of the University of Professional Studies, Accra (UPSA). You can contact her on [email protected]

Afreximbank wins two EMEA Best Structured Finance awards

August 6, 2020

The African Export-Import Bank (Afreximbank) has been recognized by EMEA Finance’s 12^th African Banking Awards for two transactions processed under its Intra-African Trade Initiative.

Afreximbank was recognized for its leading role in the $737 million bundle of guarantee facilities granted to Elsewedy Electric Group and The Arab Contractors for the construction of the Rufiji Dam and Hydropower Plant in Tanzania.

Afreximbank was appointed as Global Coordinator and Financial Advisory to arrange the guarantee facilities for the project. The transaction won the award for the best-structured finance deal in North Africa as part of EMEA Finance’s African Banking Awards.

Afreximbank’s $100 million global guarantee facility in favour of Orascom Construction was also awarded best-structured trade finance deal in Africa. The facility aims at supporting the Egyptian construction company to expand its business in the rest of Africa through projects in key strategic sectors.

Kanayo Awani, Managing Director of Afreximbank’s Intra-African Trade Initiative, said: “The promotion, facilitation and financing of intra-African trade are at the core of Afreximbank’s strategy. We are thrilled to see our efforts acknowledged once again. The complex bundled guarantee facilities we arranged for the Rufiji Dam and Hydropower Plant proves that African risks are bankable. It is perhaps the largest intra-African transaction entirely financed by African institutions. We are also proud to see our support for Orascom’s projects across Africa recognized for its performance.”

The African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution with the mandate of financing and promoting intra-and extra-African trade.

The Bank was established under two constitutive documents, an agreement signed by member states, which confers on the Bank the status of an international organization, and a Charter signed by all Shareholders, which governs its corporate structure and operations.

Afreximbank deploys innovative structures to deliver financing solutions that are supporting the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby sustaining economic expansion in Africa. At the end of 2019, the Bank’s total assets and guarantees stood at USD$15.5 billion and its shareholders’ funds amounted to US$2.8 billion. Voted “African Bank of the Year” in 2019, the Bank disbursed more than US$31billion between 2016 and 2019.

Afreximbank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo

EIB, Afreximbank direct € 300m of support to African COVID-19 response

August 6, 2020

Dr+Benedict+Okey+Oramah — Prof. Benedict Oramah, President of Afreximbank,

The European Investment Bank (EIB), the lending arm of the European Union, and the African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, are directing €300m of financing to support the resilience and recovery of African nations in response to the COVID-19 pandemic.

The funds will ensure businesses across the continent have the working capital to sustain jobs and maintain vital imports. It also earmarks at least a quarter of the capital for climate change mitigation and adaptation, helping Africa to maximize the opportunities of a green recovery.

The support package is the first accelerated COVID-19 response for the entire sub-Saharan region under the EIB’s Team Europe initiative—a €6.7bn package to help the most vulnerable and exposed countries respond to the immediate health crisis, mitigate social and economic impacts, and build resilience for the future.

The support for sub-Saharan Africa delivered with Afreximbank is structured in two parts. The package redeploys € 200m of funds previously allocated to trade-related investments, directing them specifically to sectors most impacted by the pandemic. Recognising the pressing need for support, Afreximbank and the EIB are also injecting a further €100million to the package.

This combination of existing and new funds, in addition to Afreximbank’s position on the ground, means support can be activated immediately – a degree of agility that would not have been possible under a new agreement. Furthermore, Afreximbank’s deep knowledge and broad presence across African markets will ensure capital reaches businesses and communities in all areas of the continent.

The COVID-19 pandemic is inflicting an unprecedented negative impact on African economies, just as it has on nations around the globe. Manufacturing has been impacted by disruptions in global supply chains. Meanwhile, migrant remittances to some of the poorest economies in the world have dwindled, exposing the most vulnerable in those markets to exacerbated difficulties.

As a result, many African economies are suffering serious vulnerabilities including liquidity pressure, trade payment defaults risk and fiscal challenges, alongside cuts to FDI, long term financing and portfolio flows.

A portion of the Afreximbank and EIB support package will be targeted at enabling cross-border trade in medical supplies and equipment essential for slowing the spread of COVID-19. In addition, the support package will provide financing to long-term investments in trade expansion, helping both the availability of goods and growth in economic prosperity. The package will support participating Member States of Afreximbank, 46 of which a part of the Contonou Agreement in Sub-Saharan Africa.

Two key focus areas in Africa are on women in business and the Green Revolution. As a result, a portion of the package will target businesses owned or managed by women. In addition, at least 25% of the funds allocated under the partnership will be earmarked for green projects, such as renewable power, energy efficiency and climate change adaptation measures. Afreximbank is currently appraising renewable energy projects in excess of circa €100 million for which the EBI facility will support. In addition, part of the funds will support the re-purposing of factories to manufacture PPE and other COVID-19 materials, through the African Medical Supplies Platform, a digital platform promoted by Africa CDC, Afreximbank, UNECA and Au Envoy, Mr. Strive Masiyiwa.

Prof. Benedict Oramah, President of Afreximbank, said: “As continental neighbours, Europe and Africa must stand together against the global pandemic. The funding announced today is welcome not only because it answers an urgent need, but because it is deployed with urgency.

With the joint experience of Afreximbank and the EIB, the support will rapidly reach those most affected and be carefully designed to have the greatest effect on the post-pandemic recovery. What’s more, the package’s support for green projects will help propel Africa towards the sustainable economy of the future and all the opportunities that entails.

I am confident that our work together will not only have a positive impact on African nations but will help us on the path to a closer relationship, based on shared prosperity, values and a commitment to a sustainable future.”

Ambroise Fayolle, European Investment Bank Vice President, said: “Once again the European Investment Bank is strengthening our close cooperation with Afreximbank to unlock high-impact investment by companies across Africa. A total amount of €300m has been made available as a direct result of the EIB’s fast-track support and global response as part of Team Europe.

Reflecting the scale of the global impact of COVID-19, the EIB Board has agreed to scale up financing with existing partners to rapidly deliver an immediate response. Together with Afreximbank this new financing will both unlock medical investment and ensure that climate action investment to cut energy use and emissions is not delayed.”

Under a 2018 agreement, the EIB and Afreximbank have already deployed some of the previously allocated € 200m to projects now supporting the resilience of African nations during the pandemic. These have included programmes to expand intra-African trade and export manufacturing in sectors with high employment rates. The two organisations will continue to focus on this proven approach to provide both short-term relief and long-term resilience.

Santol Energy opens Weija branch

August 5, 2020

Santol Energy, one of the fastest-growing indigenous oil companies in the downstream sector, has opened its newest branch at Weija, in the Greater Accra Region, in line with its drive to delivering best-in-class services, offering affordable and clean fuel to the local market and beyond.

The opening of the Weija branch brings the total number of branches of Santol Energy to 16, spread across the country. These include Weija-Accra, Tema Community 4, Gomoa Mpota, Anaji, Wassa Akropong, Abofour – Offinso.

The others are Techiman – Kenten, Wa, Tuna, Dungu- Tamale, Kumbungu, Navrongo and many others at various stages of completion.

Notwithstanding the advent of COVID-19 pandemic which has generally led to a reduction in sales due to less movement of people within the downstream oil sector, Santol Energy continues to invest more to beat the expectation of its growing clientele.

It, for instance, embarked on a public health campaign to give away free hand sanitisers to drivers and passengers as part of its corporate drive to support the wellbeing of customers and the general public, amidst the outbreak of the novel coronavirus (COVID-19).

Additionally, the company also announced a massive reduction in prices of products at all fuel stations across the country, in proportion to the drop in global crude prices, as part of wide-reaching measures to help contain and stop the spread of COVID-19.

It reckoned that service delivery has been better in the face of the COVID 19 pandemic. Hygiene and COVID-19 protocols have enhanced our customer service with our attendants giving out sanitizers and nose mask to customers and encouraging hand washing at the station and as well as in other Santol Energy retail outlets.

The company recently received its ISO certification, which is a testimony of its safeness and reliability for business, productiveness and consumer satisfaction.

It urges customers and Ghanaians to expect affordable, clean fuel and friendly services. With Santol you fill more and save more as indicated by the Marketing Manager, Michael Issifu Wepeba.

Prof Naana Jane Opoku-Agyemang holds thanksgiving service

August 5, 2020

Prof. Jaane — Prof Naana Jane Opoku-Agyemang

Prof. Naana Jane Opoku-Agyemang, the Vice-Presidential Candidate of the National Democratic Congress (NDC), attended a thanksgiving service the day after the successful outdooring event on Monday July 27, 2020 evening.

In his sermon, the Presiding Bishop of the Methodist Church, Most Reverend Dr. Paul Kwabena Boafo, acknowledged that Christians must get into politics to operate with truth and integrity as against the politics of insults and violence.

“You are coming in at a time when our politics is bedeviled with all sorts of negative things but as a Christian, don’t go that way”, he cautioned.

He spoke against the lynching of an old helpless woman to death after being branded as a witch for no reason.

He told the newly outdoored NDC running mate that the mandate she was seeking from Ghanaians should be one to lead and be a servant who will care for the poor, helpless, and marginalized and those who do not count in society as well as champion the course of the vulnerable.

The Presiding Bishop advised her to constantly carry the value of peace along in her political journey, saying “Carry peace, walk with peace, talk about the need for peace and let people know you stand with the God of peace”.

In brief remarks, Prof. Naana Opoku- Agyemang expressed gratitude to God for how far he has brought her and said she viewed her new position as an important step God has placed in her path.

“I do not intend to take this step all by myself; I am trusting God as I take this step and asking everyone to come on this journey with me”, she said

Prayers were said for Prof. Naana Opoku- Agyemang and a bible presented to her to symbolize her acceptance to follow God’s guiding principles in her new position.

Family, friends and members of the National Democratic Congress (NDC) attended the service which took place on Tuesday, 28^th July 2020 at the Asbury Dunwell Chapel at the Methodist Church Headquarters.

COVID-19: Businesses cut wages for over 770,000 workers, laid off 42,000 – Research reveals

August 5, 2020

The shock caused by the COVID-19 pandemic has had considerable impacts on Ghanaian businesses, forcing many firms to cut costs by reducing staff hours, cutting wages, and in some cases laying off workers.

This is according to results from a new COVID-19 Business Tracker Survey conducted by the Ghana Statistical Service (GSS), in collaboration with the United Nations Development Programme (UNDP), and the World Bank. The results show that about 770,000 workers (25.7% of the total workforce), had their wages reduced and about 42,000 employees were laid off during the country’s COVID-19 partial lockdown. The pandemic also led to a reduction in working hours for close to 700,000 workers.

“Government has already put in place diverse supports for businesses including the establishment of a Coronavirus Alleviation Programme to protect jobs, livelihoods and support small businesses. And, also is the Government’s GH¢600 Million Stimulus Package to small and medium scale enterprises (SMEs). The findings of the Business Tracker provide specificity on the pathways of effects, variation in the effects for different categories of businesses, their geographical areas, and the extent of effects”, Professor Samuel Kobina Annim, Government Statistician noted.

The survey was carried out between May 26 and June 17, 2020, across the country to assess how the novel coronavirus has impacted private businesses. Some 4,311 firms were interviewed.

The data also show that during the lockdown, about 244,000 firms started adjusting their business models by relying more on digital solutions, such as mobile money and internet for sales. Firms within the agriculture sector and other industries used relatively more digital solutions (56%), with establishments in the accommodation and food sector being the least that adopted digital solutions (28%).

“If businesses, especially SMEs are provided with the needed support to adopt best practices, particularly in the use of digital solutions, this could go a long way to increase their productivity and resilience to future challenges”, said Fredrick Mugisha, UNDP Economic Advisor for Ghana and The Gambia.

Generally, the results indicate that during the country’s COVID-19 partial lockdown, businesses received shocks in supply and demand for goods and services. Close to 131,000 businesses had challenges accessing finance and expressed uncertainty in the business environment.

The average decrease in sales, according to the findings, was estimated at 115.2 million Ghana Cedis, with firms in the trade and manufacturing sectors (including exporting firms) largely affected. More than half of these firms had difficulties in sourcing inputs due to non-availability or increase in costs, leading to challenges in covering revenue shortfalls.

Even though the lockdown measures have been relaxed, the survey results show a high degree of uncertainty in the expectations of firms regarding sales and employment over the next 6 months.

“The survey shows that COVID-19 has had a deep impact on Ghana’s private sector, through several channels. Firms are experiencing lower demand for their products, difficulties in accessing finance and sourcing inputs, and face an extended period of uncertainty. The World Bank is working closely with the Government of Ghana to mitigate these negative impacts and assist businesses to survive the pandemic and build resilience in the face of the changed economic conditions”, noted Pierre Laporte, World Bank Country Director for Ghana, Liberia, and Sierra Leone.

To lessen the impacts of COVID-19, the survey results suggest the need for policies to support firms in the short and medium-term. The most desired policies cited by the private sector include measures to improve liquidity such as subsidized interest rates, cash transfers and deferral of tax payments. Many firms were not aware of the Government’s support programs, suggesting the need for increased awareness and clarity on the guidelines and requirements of current interventions.

The results of the survey also suggest that efforts should be concentrated on re-establishing channels that were adversely affected during the pandemic. These should include re-establishing supply chains by providing credit guarantee schemes for those accessing finance, facilitating input procurement, and access to foreign markets to boost demand. The report also proposes support for firms with grants and business development services to upgrade technologies to increase productivity.

The Business Tracker Survey is part of a global Business Pulse Survey (BPS) initiative of the World Bank, surveying the impact of COVID-19 on the private sector in more than 40 countries.

Prudential Life funds 3 institutions in COVID-19 relief initiatives

August 5, 2020

Prudential Life Insurance has announced a partnership with three institutions; United Way Ghana, United Nations Population Fund (UNFPA) and the School of Languages, University of Ghana to fund projects that are set to impact over 23,000 Ghanaians.

United Way Ghana is bringing together local expertise in the fields of education, health and financial empowerment to fight the pandemic and address COVID-19 social issues in underserved communities in Ghana. The partnership with United Way will provide Food, PPEs and Literacy programs for families from deprived communities in Ayawaso North, set to impact about 3,000 individuals.

UNFPA, the lead UN Agency that targets vulnerable adolescent populations, will use their expertise to fill the gaps that exist in addressing the needs of Kayayei. Prudential’s fund will provide 500 Kayayei in the Tema station area with access to basic healthcare services, personal development and reproductive health education, provision of food supplies and care kits.

The University of Ghana School of Languages will be reaching over 20,000 people through the provision of local language interventions in traditional media (radio and television), on social media platforms and direct contact with some minority language speakers in selected market places, to fight stigma and misinformation on COVID-19. Languages targeted are Akan, Ga, Ga-Adangbe, Dagbani, Ewe, Hausa, Fafra, Ghanaian Sign Language, Ghanaian Pidgin English, English, and French.

Marc Fancy, Executive Director of Prudence Foundation said: “The ongoing COVID-19 pandemic and its impact on people’s health, livelihoods and economies, highlight the important role that Prudential can play in supporting communities and governments. Through the new Group-wide Prudential COVID-19 Relief Fund, we are pleased to collaborate with our businesses across Asia and Africa to provide additional support to vulnerable communities during such challenging times.

Emmanuel Mokobi Aryee, CEO of Prudential Life Insurance Ghana said: “Prudential is passionate about providing relief to its communities in these trying times. So far, we have introduced the free COVID-19 cover for our existing and potential customers, as well as the Cha-Ching Kid$ At Home activities developed to help parents enhance their children’s financial literacy while at home. Now, we are happy to be associated with these institutions to provide COVID-19 relief for many more Ghanaians.

Janet Butler, Vice President, Africa Region of United Way Worldwide speaking on behalf of United Way Ghana said “Thank you Prudential for choosing us as your partners for COVID-19 relief and response. Your support is critical at this time when the communities we serve need our help the most. We look forward to working with you and making a positive impact on vulnerable families in Ghana”

MTN Foundation shortlists 184 students for MTN Bright Scholarship 2020

August 5, 2020

Corporate Services Executive of MTN, Mr. Samuel Koranteng

MTN Ghana Foundation has completed screening applications for its Bright Scholarship scheme for tertiary students for the 2020/2021 academic year.

A total of 1,180 applications were received out of which 184 applicants were shortlisted for the final batch of the Scholarship. The shortlisted applicants comprised 134 males and 52 females selected from 20 tertiary institutions across the country.

The shortlisted candidates will be interviewed by a panel composed of members of the academia and accredited human resource personnel from 17^th– 21^st August 2020 (Southern Sector) and 24^th – 28^th August 2020 (Northern Sector).

After the interviews are completed the panel will select 100 qualified students in public tertiary institutions to be awarded Bright Scholarship from MTN Ghana Foundation. The scholarships will cover the cost of tuition, accommodation and a stipend for books and other relevant reading materials for the duration of their studies. Shortlisted applicants will be contacted for the interviews.

Commenting on MTN Bright Scholarships, the Corporate Services Executive of MTN, Mr. Samuel Koranteng said, “the surge of the Coronavirus has aggravated the plight of students whose parents have lost their sources of income. Through the screening process, it was evident a lot of students have been impacted and will need a helping hand to complete their studies.”

Mr. Koranteng further said “I am glad the MTN Ghana Foundation which has been contributing toward the fight against COVID-19 has reached out to students in need to enable them to complete their education. A hundred students will be awarded the MTN Bright Scholarship.”

The commencement of MTN Bright Scholarship in 2018 was in fulfilment of a commitment MTN made to Ghanaians during the commemoration of its 20^th Anniversary in 2016. During the celebrations, MTN, through the MTN Ghana Foundation promised to award a total of 300 scholarships over a period of three years. So far, 200 scholarships have been awarded to students in public tertiary institutions across the country for 2018/2019 and 2019/2020 academic years respectively. The final batch of 100 scholarships will be presented for the 2020 edition of the Bright Scholarship scheme.

The MTN Ghana Foundation has over a 12-year period awarded over 1000 scholarships to students from basic school to the tertiary level.

Gold offers economy hope amid COVID crisis

August 4, 2020

The firm price of gold in the face of the Coronavirus pandemic offers significant hope to the economy, a former Chief Executive Officer of the Minerals Commission, Dr. Toni Aubynn, has said.

Speaking during a webinar on how mining could help to mitigate the adverse impact of the pandemic on African economies and revenue mobilization for African governments, Mr. Aubynn said the sector has remained firm and as such is well-positioned to cushion the economy against the negative effects of the pandemic.

“You have industry that contributes significantly to the economy and fortunately for us, our flagship mineral, gold, has been seeing a significant uptake in price. So Ghana may be in a position to sort of cushion its fiscal side, as well as, the balance of payment side,” he explained.

Themed: Mining, a Key Fiscal Revenue Contributor to Africa’s Post Covid-19 Economy, the event was organised G&G and Associates, private legal firm and a firm advocate of local content in mineral resource management in Africa and Africa MaxMining Services Company (AMSC), a mining solutions provider.

The precious metal has soared roughly 30percent in 2020 with more gains predicted in the current economic climate. Its price on the international market has averaged about US$1,800/ounce this year, with many market watchers expecting it to close the year at a milestone mark of US$2,000/ounce, especially if a cure for the virus is not found.

It is this bullish performance that makes Mr. Aubynn believes gold, which forms about 90 percent of the value of all minerals mined in the country, will be a key contributor to Ghana’s economy, especially in area of revenue and in the face of the slowdown in other sectors due to the pandemic.

Mr. Aubynns comments were corroborated by Sulemanu Kone, Chief Executive Officer of Ghana Chamber of Mines, who expects gold prices to remain firm.

He, however, wants the conservation to shift from how much the sector can give in terms of revenue to how the whole economy be catalysed around mining. He said value addition and making sector sustainable and attractive to investors are equally of great importance.

Other speakers include Leoncio Amada Nze Nlang – Executive President, African Energy Chamber CEMAC Zone and CEO, APEX Industries, Joana Gyan Cudjoe – President, Golden Empire Legacy, Yaw Appiah Lartey – Financial Advisor, Associate Director West Africa, Deloitte and Rakesh Himmatbhai Dudhat – Founder and CMD, Golden Swan G.E.S.L and Industrias G.E.S.A.

Creative Arts sector gets specialised court

August 4, 2020

The Chief Justice, Kwasi Anin–Yeboah, has approved the establishment of a creative arts court to deal with all pending and future arbitrations concerning the industry in an expeditious manner, to protect the rights and interests of creative art practitioners.

Announcing the decision, the Minister for Tourism, Arts and Culture, Barbara Oteng-Gyasi, said the establishment of the specialised court to address the specific needs of the creative arts industry has been a priority for the government.

For her, the contribution of the industry to the economy is recognised by the government, and the need to safeguard and promote the same cannot be overemphasised. The ministry has engaged the Office of the Chief Justice and is working on modalities for the establishment of the court.

A press statement from the ministry said: “The court will be a division of the High Court to deal with copyright and other related matters pertaining to the Creative Arts Industry. The ministry in consultation with the Judicial Service is working on the modalities for the Court in the next legal year, which commences in October 2020.”

The President of the Creative Arts Council, Mark Okraku-Mantey, early last year hinted of the establishment of the special court to deal with creative issues. Speaking on Hitz FM, Mr. Okraku-Mantey explained that lawmakers had agreed on the operation of the court to protect the intellectual properties and rights of all people in the creative arts industry.

“People are just pirating music and works of many creative arts people. Some of them think they are doing the owners of the art a favour,” Mr. Okraku-Mantey said.

His comments came after the Ministry of Tourism, Arts and Culture set up a Creative Arts Mediation Committee to deal with all matters relating to intellectual property rights and disputes involving creative artists. Membership of the committee comprised representatives of the Ghana Music Rights Organization (GHAMRO), Audio-Visual Rights Society of Ghana (ARSOG), Musicians Union of Ghana, Film Producers Association of Ghana (FIPAG) and Ghana Actors Guild.

The committee was chaired by Justice Samuel Brobbey – retired Supreme Court Judge, board chairman of the Economic and Organised Crime Office (EOCO) and chairman of the Brobbey Commission that collated views from the public leading to the creation of six more regions in the country. Mr. Okraku-Mantey revealed the committee has begun looking into some cases already presented.

According to him, disputes and conflicts are inevitable. “We have always known there are issues, but we did not know where to go. The court will be made available at all times to all people in the creative industry who need their conflicts and copyright issues resolved. This is not an event that needs sponsorship to operate every year. It has the backing of the law.”

Newmont signs GH¢3m MoU with KCCR to support fight against COVID-19

August 3, 2020

Newmont Ghana has signed a Memorandum of Understanding (MoU) with the Kumasi Centre for Collaborative Research in Tropical Medicine (KCCR) to support the nation’s fight against the COVID-19 pandemic.

Under the MoU, Newmont Ghana will procure PCR equipment, ancillary equipment, reagents and other consumables to augment the capacity of KCCR to scale up its testing. Also, KCCR will help set up two laboratories in Newmont’s Ahafo and Akyem host communities to build their testing capacity for COVID-19 and other infectious diseases.

The total value of procuring the PCR machines, ancillary equipment, reagents and setting up of the laboratories is GH¢3.1million (US$545,000). KCCR is one of the two major testing centers in the country and the increasing number of cases in the country has put significant strain on the facility.

The Director of KCCR, Prof. Richard Phillips, expressed gratitude to Newmont Ghana, saying “this will significantly boost our capacity to test more samples. With the rising number of COVID-19 cases in the country, this support could not have come at a better time.”

Vice President, Sustainability and External Relations at Newmont Africa, Adiki Ayitevie, said, “Protecting the health and safety of our communities and workforce is our priority. We believe that procuring PCR machines and setting up laboratories for public health facilities in our host communities will help significantly in the fight against the COVID-19 pandemic.”

The MoU is part of the company’s initiatives sponsored from its Africa Region’s allocation of US$3.3million of the Global Community Support Fund set up by the company to support COVID-19 management efforts in its operating jurisdictions.

So far, Newmont Ghana has approved over US$2million (GH¢11million) to be spent on employee and community health, food security and local economic resilience initiatives within and beyond its host communities.

Among the beneficiary institutions are the Birim North Health Service, Birim North District Assembly, Birim Central District Assembly, Asutifi North District Assembly Asutifi North Health Service, Asutifi North District Police Service, Tano North Municipal Assembly and the Tano North Health Service.

In April, Newmont Ghana donated US$50,000 to help procure testing kits for the Noguchi Memorial Institute for Medical Research and the KCCR. The company also contributed about US$554,000 (approximately GH¢3million) of the Ghana Chamber of Mines US$2million (GH¢11million) donation to support the national COVID-19 management effort.

Oxfam supports NCCE with GH¢100,000 for COVID-19 awareness campaign

August 3, 2020

Oxfam in Ghana has committed GH¢100,000 to support the National Commission for Civic Education’s (NCCE) campaign on COVID-19 awareness-raising.

The campaign’s goal is to deepen public awareness on the prevention and management of coronavirus disease (COVID-19), as well as government’s measures and directives in response to the pandemic.

The entire campaign is aimed at increasing awareness on COVID-19; mode of spread; signs and symptoms and myth-busters associated with the disease. Other objectives are to reduce fear and panic among the citizenry and improve public compliance with the established directives and protocols by the World Health Organisation (WHO) and Government of Ghana to contain the spread of the disease.

Oxfam in Ghana will be supporting the NCCE with the provision of the following items:

Seven Public Address (P.A) Systems to be mounted on vehicles without them in seven out of the 23 collaborating districts.
Support for Operations: The cost of running vehicles and sensitisation in the 23 districts includes Fuel, and Payment for slots at Community Information Centres and Community Radio Networks.
Airtime on National TV & Radio to complement the community radio centres and other platforms.
Production & Operational Equipment: Two laptops will be procured for the Institution to support campaign coordination and production of content for this campaign.

The campaign will generally adopt information vans, community information centres, Radio and TV for the engagements. Others will be in the form of inter-personal engagements with Traditional Authorities and other stakeholders on adherence to safety protocols.

In this collaboration, the NCCE will intensify the nationwide awareness-raising campaign in 23 out of the 59 operational districts of Oxfam across the country.

Oxfam is a world-wide development organisation working in over 90 countries to fight poverty and injustice.

Juliet Bawuah appointed new Group Head of Sports at Media General

August 3, 2020

Juliet Bawuah is the new Group Head of Sports at Media General, the parent company of TV3, 3FM, Onua TV, Onua FM, Akoma FM, and Connect FM. Her appointment took effect from July 1, 2020. She replaces Michael Oti Adjei, who has moved on to head the group’s digital division.

Juliet is expected to bring her years of experience to bear on the new role. In the last few years, she has practised, she has built an enviable brand that is credible and alluring.

Juliet holds a Masters from the Cardiff University in Wales, United Kingdom, and is an alumna of the US State Department-sponsored International Visitor Leadership Programme (IVLP). She is also a Fellow of the Radio Netherlands Training Centre (RNTC).

She holds other certificates from two of Ghana’s prestigious Journalism institutions – the Ghana Institute of Journalism and the African University College of Communications. She has also worked with other reputable Ghanaian media brands including CITI FM, eTV, and Metro TV.

Juliet is a former employee of the Euronews-run Pan-African news channel Africanews. She has also worked for the global football website GOAL, as well as the Confederation of African Football website.

Regularly, she contributes for the BBC, TRT World, Premier League TV, La Liga TV and DW. Over the years, she’s sat on judging panels for CAF (African Footballer of the Year) and the Ballon d’Or, where she helps to choose the winner in the Women’s category.

A role model with a heart for bigger ambitions, Juliet is the Founder of the Africa Women’s Sports Summit – a platform designed to encourage greater inclusion, longevity and excellence for the African woman in sports.

Tullow on course to achieve full-year production target

August 3, 2020

Rahul Dhir, Chief Executive Officer of Tullow — Chief Executive Officer of Tullow Oil plc, Rahul Dhir,

…as TEN, Jubilee half-year results remain in line with guidance

Production from Tullow Ghana’s Jubilee and Tweneboa Enyenra Ntomme oil fields for the first half of 2020 remains in line with full-year forecasts, despite disruptions caused by the Coronavirus pandemic and collapse in prices due to the Russia-Saudi Arabia oil price war.

Half-year production results from the oil producer show that gross Jubilee production averaged 84,700 bopd and net of 30,000 bopd, with gross TEN production averaging 50,900 bopd with a net of 24,000 bopd, while net production from the non-operated portfolio was 23,700 bopd, in line with full-year projections.

“Ghana’s operational performance has been strong in the first-half, with uptime on both FPSOs in excess of 95 percent,” it said in its half-year trading statement and operational update released yesterday.

While Tullow is not anticipating any disruption to its Ghana business, it said operations on the Ntomme-9 production well at TEN are ongoing, and that the well is due to go on-stream in August.

On the performance of the group’s businesses and impact of COVID-19, the statement said: “The impact of COVID-19 has been managed safely across our business, with no impact on our operated production. Group working interest production in the first half of 2020 averaged 77,700 bopd in line with expectations; full-year guidance has been narrowed to 71,000-78,000 bopd, reflecting continued good performance across the portfolio”.

Notwithstanding, in Kenya, it said impacts of COVID-19 on the work programme and fiscal framework has led the joint venture to call Force Majeure on its licences, which is likely delay the final investment decision and impact ongoing farm-down processes. It added that constructive discussions are ongoing with the Kenyan government to find a way forward.

Half-year financial performance

The Group expects revenue for the first half of 2020 to be US$0.7billion with a realised oil price of US$52/bbl, including hedge receipts of US$131million. It has hedged 60 percent of its sales this year at a floor price of US$57 a barrel and 44 percent of next year’s at a floor of US$51 a barrel.

Meanwhile, as of June 30, 2020, net debt was estimated to be US$3billion and liquidity headroom and free cash of US$0.5billion. Its market capitalisation was US$508million as of July 28. Tullow is also set to book US$1.4-1.7billion in impairments before tax in its half-year results, due on September 9.

Full-year cash flow is forecast to break-even at current prices, the statement added.

“Despite the challenging external environment in first-half of the year, Tullow has performed well; delivering production in line with forecast, agreeing with the sale of the Ugandan assets, and re-shaping the Group’s structure and cost base.

In the second half of 2020, our focus will remain on continuing to deliver safe and reliable production from West Africa, reducing debt and building a cost-effective and efficient organisation that can compete in a low oil price environment,” said new Chief Executive Officer of Tullow Oil plc, Rahul Dhir, who took over at the beginning of this month.

PRODUCTION GUIDANCE

Group average working interest production	H1 2020 actual (bopd)	FY 2020 forecast (bopd)
Ghana	54,000	51,600
Jubilee	30,000	28,100
TEN	24,000	23,500
Equatorial Guinea	5,000	4,700
Gabon	16,800	16,700
Côte d’Ivoire	1,900	2,000
Oil production	77,700	75,000

Nominations open for 2020 edition of Ghana Energy Awards

August 3, 2020

Nominations for the 2020 edition of the Ghana Energy Awards (GEA) have opened under the theme: ‘Excelling in crisis: the energy sector in a COVID-19 era.’

The nominations remain open until September 30, 2020. In all there are 18 categories, both competitive and non-competitive, including the topmost Energy Personality of the Year award; Institution of the Year; Energy Company of the Year; Brand of the Year; Reporter of the Year, and a host of other carefully selected categories.

At a media launch in Accra, Dr. Kwame Ampofo – Chairman of the awarding panel, noted that the Coronavirus pandemic has occasioned an unusual environment with its related effects on the country’s economic and social health of.

So far, the pandemic has led to company shutdowns and job losses as well as suspensions of critical upstream projects valued at over US$300million, since the energy sector has been least-spared from the COVID impact.

“Despite the challenges, the Ghana Energy Awards has considered the opportunity to hold a very special energy awards event, while observing all the COVID-19 protocols, to highlight the resilience and ingenuity of Ghana’s corporate world – especially in the energy sector,” he said.

According to the organisers, strict measures are being put in place to ensure adherence to all the prescribed protocols in order to guarantee the safety and well-being of industry players.

Ing. Henry Teinor, Director of the Awards, stressed that a key feature of the 2020 event is the nature of organisational responses to the pandemic.

“For the current crisis in which we find ourselves, this year’s event is paying particular attention to the critical interventions being undertaken by various organisations in the sector to support the ongoing fight against COVID-19; in terms of safety, security and relief for company staff, and more essentially for the communities in which they operate,” he said.

Mr. Teinor further added that before the nomination period ends, the organising team and awarding panel will pay inspection visits to nominees’ project sites to acquaint themselves with innovative solutions cited by the nominees. This activity is to inform the panel on the nature of these projects and the magnitude of their impact.

Ghana Energy Awards is an industry-led initiative with an endorsement from the Ministry of Energy and World Energy Council Ghana, which recognises the efforts, innovation and excellence of individuals and organisations within the energy sector. This year’s event will mark the fourth edition of the awards.

Prospective applicants can visit the awards website www.ghanaenergyawards.com for information on categories and the nomination process.

Do more with FBNBank’s Quick Banking *894#

August 3, 2020

Mrs. Rachel Adeshina, Country Head, Technology and Services at FBNBank Ghana

FBNBank Ghana, as part of its commitment to empowering all who embrace its brand with seamless access to everyday financial services has unveiled the quick banking *894# product. The product bestows the power to bank anywhere and at any time to customers. According to the bank, it is convenient, easy, simple and quick to use.

The quick banking *894# product promises flexible options, exceptional convenience and allows customers to bank with any phone on the MTN, AirtelTigo and Vodafone mobile networks. Users of the product do not require internet to access the platform, only mobile network availability. Quick Banking *894# is delivered on the customers’ registered phone number linked to their FBNBank accounts.

Mrs. Rachel Adeshina, Country Head, Technology and Services at FBNBank Ghana stated that quick banking *894# has made any mobile phone a mobile branch of the bank. She announced that FBNBank customers can register for this product when they dial *894#, select registration, enter their account number and a five-digit Personal Identification Number (PIN).

She added that users can open accounts, transfer money to FBNBank and other banks customers in Ghana, buy airtime for themselves and their loved ones, check account balance, request for mini statements, reset their PIN and more wherever and whenever they want these services.

While assuring customers of maximum security when using quick banking *894# for transactions, Mrs. Adeshina emphasized that every number on the platform is already registered with the bank.

According to Mrs. Adeshina, FBNBank Ghana’s introduction of quick banking *894# is in line with the strategy to bring financial services closer than ever to the FirstBank of Nigeria Limited’s subsidiary in Ghana. The launch represents a key step in FBNBank’s digital banking strategy, which aims to leverage new and evolving technologies to facilitate access to everyday financial services for consumers and businesses alike. 894 also reflects the origins of our over the 125-year-old bank, established in 1894 in Nigeria.

Kenya Airways resumes international passenger flights

August 3, 2020

Kenya Airways resumes international flights to 30 destinations across Africa, Europe and the Middle East

Kenya Airways (KQ) resumed its international passenger services on Saturday 1 August 2020, following the easing of movement restrictions as directed by President Uhuru Kenyatta. The first international flights on 1^st August departed to the following international destinations: London, Dubai, Addis Ababa, Kigali, Dar es Salaam and Lusaka.

During the month, there will be a gradual increase in the network with flights to Paris, Mumbai and Amsterdam. In Africa, the airline will operate flights to Accra, Dzaoudzi, Freetown, Harare, Kilimanjaro, Lagos, Monrovia, Moroni, Nampula and Zanzibar. Based on demand and other factors, resumption of services to other destinations around the globe will occur.

The Airline plans to start operations to USA, China and Thailand from October 2020. These destinations require the bulk of the network to open up in order to sustain adequate traffic on the routes.

“Since resuming domestic flights on 15^th July 2020, we have been monitoring adherence to the protocols that we have in place to ensure the health and safety of our customers and staff – and I am pleased that they are being enforced and followed strictly,” said Allan Kilavuka, Group Managing Director and Chief Executive Officer of Kenya Airways.

“The resumption of our international flights is an important milestone for us. Through the COVID-19 pandemic, we have continued to provide connections for our farmers’ produce to reach international markets; medical supplies to reach our people through our cargo flights; as well as reuniting families through the repatriation flights we mounted with support from the government of Kenya. We look forward to welcoming our guests onboard as we play our role in kick-starting economies; not only for Kenya but also for those countries that we operate to,” he added.

Some safety measures the airline has put in place to ensure the safety of passengers include the use of Personal Protective Equipment (PPE) by the flight crew and airport workers where necessary and limited interaction between crew and passengers. The airline is also providing sanitiser stations on-board, and washing of hands will be encouraged by the crew onboard the flights.

All the aircraft are fitted with High-Efficiency Particulate Air (HEPA) filters. The filters ensure that the quality of air onboard is kept clean by constant filtration and replacement with air from outside the aircraft. They also trap particulates such as viruses and bacteria, and as the air flows primarily from the ceiling to the floor, it helps minimise particulates spreading throughout the cabin. The airline will continuously review the protocols in place and update where necessary to ensure the health and safety of all.

The COVID-19 pandemic has had a devastating impact on the tourism and aviation industries, globally. According to IATA, demand for travel is forecast to fall by 58% in 2020, while passenger revenues will decline by over US$6billion compared to the previous year. Kenya’s tourism industry has meanwhile lost 80 billion shillings (US$752million) in revenue so far due to the crisis.

While we do not expect these sectors to immediately resume business-as-usual in a world where travel restrictions are still a reality, the resumption of international flights is an important step for Kenya toward bringing these sectors back to life.

According to the Kenya Airways Chairman of the Board, Michael Joseph: “The global economic and geopolitical context remains uncertain, and it will take another 2-3 years to gain the confidence of travellers and begin the path to recovery for air travel demand. A number of industry watchers predict that it will be a few years before air travel returns to the 2019 levels.

“However, the resumption of international flights from Nairobi to the world is a major step toward recovery as it will enable local businesses to connect with global markets, contributing favourably to the Kenyan economy and toward sustainable development of the continent,” he added.

Starved of dollars, Nigerian businesses struggle for survival

August 3, 2020

LAGOS, NIGERIA: "Jankara" market, located on Lagos Island and the skyline of the city of Lagos, May 1991. (Photo credit should read DERRICK CEYRAC/AFP/Getty Images)

As women in hairnets and anti-coronavirus masks sort through folded nappies coming off a conveyor belt, the head of the Nigerian firm they work for wonders how much longer he can afford to keep them in employment.

Around 80% of the materials that go into Lagos-based diaper and sanitary towel manufacturer Wemy’s products are imported. To buy them, Paul Odunaiya needs dollars, which he can no longer find.

“We’re pleading with our suppliers to wait a bit longer so that we can source dollars and pay them,” Odunaiya told Reuters.

With the price of oil, Nigeria’s main export, depressed and foreign exchange reserves dwindling, its central bank is hanging on to its dollars to support the local naira – leaving a dwindling supply of hard currency to buy the imports that are the bedrock of Africa’s largest economy.

Muda Yusuf, director-general of the Lagos Chamber of Commerce, said that, like Odunaiya, the dollar shortage is hitting most of its 2,000 members hard.

“If the situation persists it will lead to lay-offs,” he said. “If you are not producing, there will be a shortage of goods in the market, prices will go up.”

Inflation has risen for 10 straight months, hitting a two-year high of 12.56% in June, piling on greater economic hardship for a population of whom 40% already live below the official poverty line of 137,430 naira ($382) per year.

Added to that, there have been two devaluations of the naira’s official rate this year.

With the oil market depressed by a producer price war and the pandemic-induced global recession, central bank reserves have fallen 20% in the past year to $36.1 billion, around five months of import cover.

The bank initially sought to stem the decline by suspending dollar auctions in March and continues to severely ration their supply.

“It’s been excruciating,” said Fred Ameobi, executive director of Coscharis Group, a conglomerate whose businesses include automobile assembly.

The government says the economy could shrink by up to 8.9% in 2020, while many of the local banks that Nigerian companies rely on have seen their dollar credit lines halted by international lenders who fear they won’t be paid back.

Many firms have resorted to the black market, where the naira trades at around 20% below the official rate, making dollar purchases even more expensive.

For now Odunaiya, whose firm had a year to March turnover of 2.5 billion naira, sees only hard times ahead. “It’s going to be a tough year … Some businesses will die.” Reuter

S.O Frimpong Transport partners UG to fight COVID-19

August 3, 2020

Obeng Frimpong, (second from right) in a group photo with officials of UG

Management of indigenous transport firm S.O Frimpong Transport Company (SOFT) has partnered the Department of Biochemistry, Cell and Molecular Biology at the School of Biological Sciences in the University of Ghana (UG) to use chlorine disinfectant toward the company’s fight against the novel coronavirus (COVID-19) pandemic.

Chlorine kills pathogens such as bacteria and viruses by breaking the chemical bonds in their molecules. Chlorine compounds can exchange atoms with other compounds, such as enzymes in bacteria and other cells. When enzymes come into contact with chlorine, one or more of the hydrogen atoms in the molecule are replaced. This causes the entire molecule to change shape and automatically die.

Chlorine solution is thus a remedy for disinfecting households, premises, vehicles and enclosed spaces.

A Senior Technologist at the Department of Biochemistry, Cell and Molecular Biology at the School of Biological Sciences, UG, Nicholas Sowah who spoke at the unveilling of the innovation, said the partnership between the department and SOFT depicts a strong collaboration between academia and industry.

He said though chlorine is a well-known disinfectant, it has widely been underutilised for industrial use in Ghana. “Companies tend to embrace the use of alcohol and ethanol for disinfection and sanitizing, which is rather an expensive option compared to the use of chlorine solution,” he explained.

For a company like SOFT, relying on the innovation of using chlorine disinfectant in the fight against COVID-19 is the best decision, the Department noted, adding: “it’s cost-effective for a company that has several fleets of vehicles to disinfect in this COVID-19 season.

“Instructively, the Department prepared three percent of chlorine into 1,500 litres of water to form a three percent chlorine solution for the company. It is worthwhile to state that the solution is environmentally friendly, not harmful to humans and animals. It was prepared through laboratory safety standards and procedures,” a statement from the department indicated.

The solution is stored in a secured polytank and is expected to last for more than six months, depending on the frequency of use. Without contamination, its efficacy in fighting pathogens never reduces. “From the polytank, it will be fetched into spraying cans and used for disinfection purposes,” Mr. Sowah noted.

The collaboration, according to the Biochemistry Department, is the first official partnership between it and an organisation outside academia. “We’ve been doing it for others, but this is the first commercial entity we are preparing this solution for, and we hope to have other companies come on board to use this method in the fight against coronavirus,” Mr. Sowah disclosed.

Chief Executive Officer of SOFT, Randolph Obeng Frimpong, said the company’s fleet of buses, trailers, tankers and offices could be exposed to COVID-19; hence management’s decision to act promptly to introduce chlorine in the fight against the virus.

“Our buses at any given time load passengers to and from their various destinations; the drivers come into contact with various people, and that poses potential threats to all staff of our company.

“We thought about the threats and decided to partner with UG’s Department of Biochemistry to introduce this sustainable method of disinfecting our buses, and premises as well. This partnership will go a long way to strengthen the partnership between academia and industry, and we hope to have more fruitful collaborations with the university,” Mr. Obeng Frimpong noted.

Netherlands and Ghana – fighting COVID-19 together: an overview of funding and activities

August 3, 2020

Worldwide

The Netherlands contributed at the beginning of April the amount of €100million to the WHO for the fight against COVID-19 in the more vulnerable countries. This support aims not only at preventing and combatting COVID-19 but also focusses on mitigating socio-economic consequences.

At the beginning of last July, the Dutch Minister for Development Cooperation and Foreign Trade announced that some further €150million would be made available to help the more vulnerable countries in their fight against COVID-19. Even when the COVID-consequences come hard on the Netherlands itself, and indeed they do, the Dutch still stand ready to help and support other countries combat COVID and soften the socio-economic consequences.

Ghana

“Since the beginning of the COVID-crisis in March, the government of Ghana has done a commendable job to contain the COVID-crisis,” said Dutch Ambassador to Ghana, Ron Strikker, recently.

“Like their counterparts in the Netherlands, thousands of doctors, nurses and other medical staff are at the forefront to provide care and keep us safe. Like all Ghanaians, we as members of the international community are grateful for that. We as Dutch are proud that we can be of support, and we intend to continue that support.”

Dutch support for efforts to combat COVID-19 amounts as per mid-July 2020 to almost GH¢4million and an increase to some GH¢5million is envisaged in the next couple of weeks.

Some of the most important interventions are stated below:

Healthcare (1) COVID Connect Centre (€300,000 – ca. GH¢2million)

In May, the COVID Connect Centre was launched within the University of Ghana Medical Centre. This is a virtual monitoring app with a back-end Care Coordination Centre at the University of Ghana Medical Centre (UGMC) that gives subscribers access to needed clinical support from a team of medical experts and specialists.

It is based on technology developed by the Dutch IT-company Luscii. The programme is considered a game-changer in the fight against COVID-19, and some 2500-plus patients are benefitting from it. COVID-Connect is now being rolled out to other parts of the country.

This initiative is a joint one of Ghana’s Ministry of Health, University of Ghana Medical Centre (UGMC) and the Ghana branch of the social enterprise PharmAccess Foundation, based in the Netherlands. The project is largely funded by ACHMEA, a Dutch insurance and pension company and FMO, the Dutch Development Bank which has supported programmes in Ghana for over four decades. The total support from the Netherlands amounts to some €300,000.

In addition to this, with the help of Pharmaccess and the Ghana Health Service, a programme is at present being developed to ensure better protection for healthcare workers in Ghana against COVID; so that they can continue providing care within the COVID-period and beyond and/or a programme to enhance the capacity and efficiency of existing laboratories currently conducting COVID-19 tests. Dutch funding will amount to €200,000 (GH¢1,350,000).

Healthcare (2) Computer-Aided Detection of COVID-19 (€122,600 – ca. GH¢820,000)

On the initiative of the Dutch company Delft Imaging, in July 20 hospitals in Ghana which were earlier assisted in getting digital X-ray equipment installed at their facilities as part of a large Dutch-funded €22million Infrastructure Programme will receive and install small computer boxes with Delft CAD4COVID-software.

The software contains Artificial Intelligence, which helps to detect at an early stage lung conditions caused by COVID-19. Funding at the amount of €122,600 comes from the Dutch Good Growth Fund, which is being managed by the Netherlands Enterprise Agency (RVO). Some 55 medical facilities are envisaged to be equipped within this programme.

Healthcare (3) – CORIP (GH¢65,000)

Within the framework of the longstanding Dutch funded Cocoa Rehabilitation and Intensification Project (CORIP), Personal Protective Equipment (overalls, goggles, facemask, and boots) will be donated to six Health Facilities within the project catchment area. Each Health Facility will benefit from €1,700 of PPEs. Total contribution will come to €10,000, or some GH¢67,000.

Healthcare (4) SWAPP (GH¢200,000)

The Sustainable West Africa Palm Oil Project (SWAPP) distributes some 20,000 branded face-masks to direct project beneficiaries over the current period. The total costs are estimated at €30,000, or some GH¢200,000.

Healthcare (5) Tax Revenue for Economic Enhancement Programme (TREE) (GH¢10,000)

Within the framework of the Tax Revenue for Economic Enhancement Programme (TREE), which focusses on the improvement on local taxation in Ghana, some 2000 nose masks have been distributed to 20 MMDAs, which take part in the programme. Total costs at GH¢10,000.

WASH (1) – Urban Sanitation Programme

The Dutch-funded, UNICEF-implemented Urban Sanitation Programme (USP), done in close cooperation with the Ministry of Sanitation and Water Resources and the municipalities of Ashaiman, Ho, Tamale and (soon) Elmina is perhaps one of the most successful WASH-programmes in Ghana.

WASH is central to managing the COVID crisis; hence, USP has over the last months focused on risk communication (radio, TV, market-sensitising events) disinfection, improvement of WASH-facilities in schools and health centres. Some 30,000 people benefitted from new household latrines and new handwashing facilities. Moreover, some 85 Environmental Health Officers at municipal assemblies received extensive training.

WASH (2) P2P Programme

Within the WASH from Possible 2 Profitable project, loans from the €4million Revolving Fund are given for COVID-related purchases of hygiene products such as handwashing buckets, production of hand sanitiser, detergents, soaps and Personal Protective Equipment like nose masks. This has stimulated more entrepreneurs to venture into WASH businesses as the demand for hygiene products has strongly escalated in the country.

WASH (3) – Ghana Wash Window

Some water enterprises within the Dutch-funded Ghana WASH Window – i.e. Safe Water Network & Access Development – rolled out an anti-COVID- 19 plan in the Western, Eastern and Volta Regions.

For three months, their water stations provided free access and made available soap and handwashing stand. In addition, mechanised boreholes are being built for new district isolation centres. District assemblies get help from GWW in warning communities about COVID-risks, including the production of information material. Some 130 communities and 24 health centres are supported.

WASH (4) – INT Water Management Institute (IWMI) – How to Build Back Better from COVID-19

Apart from all direct and emergency measure needed to fight COVID-19, understanding effects of the response to COVID-19 on water, wastewater and sanitation management in Ghana is crucial.

The ongoing COVID-19 pandemic teaches us that WASH is essential for our health, our safety and our prosperity. The IMWI study will help to sharpen current WASH-policies to improve water and sanitation in metropolitan, municipal and district assemblies; and hence to ‘build back better’ from the COVID-19 pandemic. Contribution estimated at €100,000 (GH¢670,000).

Socio-economic measures (1) – Orange Corners Young Entrepreneurs Programme (GH¢400.000)

The Dutch-funded Orange Corners Programme started in 2019. Orange Corners Ghana, as an acceleration programme, contributes to the vibrant entrepreneurship climate in Ghana by bringing young entrepreneurs with a proven track record to the next level with training for a better knowledge, better skills, better business plans, higher turn-over and hence more jobs. In addition: access to finance. In order to help the 30 participants so far in the OC-Programme to get their businesses through COVID-times, each participant got a grant of €2,000 (some GH¢13,500) each, totalling up to GH¢400,000.

Prof. Rita Dickson sets eyes on programmes to deepen employment creation

August 2, 2020

IMG-20200802-WA0014 — Vice Chancellor of KNUST, Prof. (Mrs.) Rita Akosua Dickson, middle, being inducted into office by the Asantehene, Otumfuo Osei Tutu II, Chancellor of KNUST, left

The new Vice-Chancellor of the Kwame Nkrumah University of Science and Technology (KNUST), Prof. (Mrs.) Rita A. Dickson has committed to pursuing substantial entrepreneurship content, as part of her vision to deepen KNUST’s contribution towards helping to tackle graduate unemployment, in the country.

This includes the setting up of Career Development and Skills Centers, an Entrepreneurship Support Fund, Youth Entrepreneurship Challenges among others, in line with the government’s policy on ‘Students Entrepreneurship Initiative.’

“We would also continue to drive industry-based internship programmes to foster relevant work experience for our students. We will continue to champion the ‘STEM FOR GIRLS’ initiative.”

Prof. (Mrs.) Rita A. Dickson observed that it is an irrefutable responsibility for KNUST “to train graduates who emerge as renowned entrepreneurs, leaders in innovation and technology, leaders in the community, leaders in business, leaders in their chosen fields, leaders in change and leaders in the broader society.”

Announcing her vision for the KNUST at her investiture, as she takes over as the first-ever female Vice-Chancellor of the school, she noted that the growing population of the university required creativity in the approach to handle instruction delivery.

To this end, she said among others that the school would endeavour to improve teaching and learning environments by enhancing curricula, pedagogy, culture, infrastructure and digital technologies.

At the back of the impact of the outbreak of COVID-19 on education, the new Vice-Chancellor intimated that the need for ICT in teaching and instruction is now more relevant than ever before.

She said significant initiatives involving e-strategies will be rolled out in the coming days to facilitate teaching and learning experience.

“There will be the establishment of a more resilient and robust e-learning system that ensures seamless academic work all year round.”

Additionally, she said the use of smart technologies for both synchronous and asynchronous teaching, learning, assessments, research & university operations, among others would be upscaled.

She said KNUST will roll out a project dubbed Support One Needy Student with One Laptop (SONSOL PROJECT) in the coming days in collaboration with its philanthropists and key stakeholders.

This is also at the back of the outbreak of COVID-19 which she said has affected a greater majority of needy students of the university, who are unable to access online resources because they do not have the requisite electronic gadgets.

Prof. (Mrs.) Rita Akosua Dickson is the 11th Vice-Chancellor and the first female to ascend to the highest office of Vice-Chancellor of the Kwame Nkrumah University of Science and Technology (KNUST).

The Professor of Pharmacognosy was also the first female Dean of the Faculty of Pharmacy and Pharmaceutical Sciences of KNUST and now takes over from Prof. Kwasi Obiri-Danso as the vice-chancellor.

The Chancellor of the University, Asantehene, Otumfuo Osei Tutu II, said KNUST has been very fortunate to have had visionary leaders who led this great institution through periods of significant development and acknowledged the contribution of all the past vice-chancellors.

He reckoned that technology has greatly influenced teaching and learning practices, offering new ways to perform, mediate and provide education, and to obtain information.

“The challenge that it brings, therefore, requires a special set of skills and knowledge to provide the best practice available.

Added to this challenge is the dreaded COVID-19 Pandemic which has also resulted in an unprecedented need for reforms and new ways to the conduct of human affairs. It has thus, created significant challenges for the global higher education community and KNUST is no exception.”

The Asantehene, who was speaking at a ceremony to induct the new Vice-Chancellor into office, however, was very optimistic that Prof. (Mrs.) Rita Akosua Dickson would be successful in guiding the school through these difficulties.

Editorial: Infectious Disease Isolation Centre completion attests to ‘can-do’ spirit of Ghanaians

July 30, 2020

The launch by Vice-President Dr. Mahamudu Bawumia of the US$7.5million Infectious Diseases Centre built by the Ghana COVID-19 Private Sector Fund, at the Ga East Municipal Hospital, is something worth celebrating.

Dr. Bawumia noted that the Centre celebrates Ghanaian ingenuity and patriotism, and dedication to humanity. The world-class facility was constructed by a team of 536 men and women working 24 hours a day, who worked tirelessly to build the facility.

Co-Chair, Board of Trustees of the COVID-19 Private Sector Fund and Fidelity Bank’s Chairman, Edward Effah said: “The COVID-19 Private Sector Fund’s mission is to provide a prompt response to the hardship and suffering arising out of the COVID-19 pandemic. We sought to bring to bear the agility and responsiveness of the private sector to support the government in the fighting spread of the virus”.

He noted that the Facility 100 Project seeks to develop four 100-bed Infectious Disease Centres in Accra, Kumasi, Takoradi and Tamale. Tony Oteng Gyasi, Co-Chair of the Board of Trustees of the Fund and Chairman of Tropical Cables and Conductors Limited, advised that the facility should be well-maintained to benefit the nation for many years.

This is crucial because though the private sector initiative is laudable and has to be highly commended for its saving grace, it will amount to little if the proverbial Ghanaian maintenance culture is allowed to continue.

World-class infrastructure facilities exist in the country, but our penchant for not maintaining the same gives them a rather short life-span – and the Accra-Tema Motorway is one typical example. Hence, as Mr. Oteng-Gyasi stated, managers of the facility should ensure it is taken care of so that many more generations can benefit from its purpose.

This combined action by key players in the country’s private sector to construct such a facility in record time as part of measures to contain the spread of the deadly COVID-19 pandemic demonstrates the true philanthropic spirit of the Ghanaian and must be applauded.

Editorial: MFIs’ peril exacerbated by COVID’s disruption of global supply chains

July 30, 2020

On Tuesday, July 2, 2013, all commercial banks started implementing this new formula for calculating the minimum lending rate for borrowers.

Declining trade volumes and values due to COVID-19 disruption in supply chains globally has had a serious effect on the wholesale, retail and distribution business in Ghana; thereby causing a ripple-effect on Specialised Deposit-Taking Institutions (SDIs).

In March 2020, the Bank of Ghana (BoG) announced a number of monetary policy interventions including a cut in the policy rate by 150 basis points to 14.5 percent; and loan repayments past due of Microfinance Institutions for up to 30 days shall be considered as ‘current’, as is the case for all other SDIs.

Despite these cushioning measures, SDIs are struggling to stay on their feet; and the contraction in business threatens the survival of Savings & Loans companies (S&Ls) and microfinance companies, particularly coming after the financial industry clean-up by the Bank of Ghana.

Managing Director-Golden Pride Savings and Loans, Johnson Boadi Asamoah, speaking at a webinar recently organised by Krif Media noted that the institutions are at risk because of their dependence on short-term funding, interbank liabilities, and high concentration in sectors particularly affected by the COVID-19 shock.

“MFIs’ portfolios are under stress as a result of lending to households with volatile income and no assets, and some may be unable to maintain liquidity and solvency.”

The decline in income and revenue means borrowers cannot meet their obligations, and as a result, the stability of the S&L sub-sector in the country is threatened by the likelihood of a sharp increase in non-performing loans.

What double jeopardy, particularly for the microfinance and savings and loan companies who are just about recuperating from the financial sector clean-up and are struggling to stay afloat and be competitive.

To this end, some are clamouring for engagement with the regulator so as to dialogue with the associations of S&Ls, finance houses and microfinance companies to adopt policy interventions that highlight their financial restructuring to help them survive these challenging times.

An asset quality review carried out by the BoG in 2015 and 2016 revealed severe challenges with solvency, liquidity and asset quality in Ghana’s banking industry, with some banks showing significant under-provisioning and capital shortfalls.

A similar clean-up process was also applied to the microfinance and non-banking financial institutions sector, which resulted in hundreds of licence withdrawals.

The regulator justified its decision on the grounds that the institutions had no reasonable prospect of recovery, and that their continued existence “posed severe risks to the stability of the financial system and to the interests of their depositors.”

Stanbic digitises banking service requests for clients

July 30, 2020

Eugene Ocansey, Head Channels, Stanbic Bank

Stanbic Bank has revamped its systems to make all banking service requests accessible through its digital banking platforms. As a result, customers of the bank can make all their service requests via the bank’s various online banking channels rather than visiting a branch.

The enhanced platforms include Stanbic Bank ATMs, the Virtual Branch, the Stanbic Mobile App, USSD Mobile Banking available at *715#, Slydepay and the Enhanced Virtual Assistance (EVA). Through these platforms, clients can generate their statements, do balance enquiries, have a 360° view of all accounts, make payments and transfers to Stanbic accounts or any bank in Ghana, make multiple payments, have future dated payment options, standing orders, account modifications, request for cheque books, stop cheque and renew fixed deposits.

Others include a request for a bank certified cheque, switch mailing addresses, stop cards, bulk file uploads, access mini statements, send money to mobile money wallets, pay bills, complete service requests, do instant account opening, get forex rates, locate nearest branch or ATM, make product or service enquiries, access your accounts when outside the country if you activate international roaming, check your last five transactions and make beneficiary payments.

Speaking on these digital innovations, Head of Customer Channels at Stanbic Bank, Eugene Ocansey, said the innovations are in response to the needs and demands of the times. “These measures have been deliberately put in place to ensure that our customers and clients can have access to the bank and have all their service requests attended to, while they remain safe at home. The need for accessing a physical branch to have one’s banking needs addressed has been addressed with these deliberate and innovative measures”, Eugene Ocansey said.

Stanbic Bank and its parent company, Standard Bank Group, have been acknowledged globally for leveraging the benefits of technology and digitization to enhance quality service delivery. The Euromoney Excellence Awards, 2020 recognized Standard Bank as the best investment bank, best bank for transactions services and best bank for wealth management for upgrading its systems from manual to digital in a bid to provide seamless banking services.

West Hills Mall’s Food Court raises the bar again

July 30, 2020

West Hills Mall has consolidated its ranking as Accra’s most alluring destination for hot, ready-to-eat foods with the opening at its popular food court of one of the country’s classiest patisseries – the ‘New York Sizzlers Pastries & Ice Cream’.

The mall’s food court, already the toast of patrons from a mixed-bag of social categories across communities in Accra West and beyond, is home to seven exclusive delicatessen and eateries; and with the arrival of the patisserie has become a very compelling pull for Accra’s biggest family shopping centre.

After trading for only a few days, patrons say the arrival of New York Sizzler Pastries and Ice Cream was long overdue, underscoring the thinking that there had always been a yearning for oven-fresh baker’s confectioneries in the communities of Accra West all along.

“What inspired our coming to Accra’s trendiest family mall is the sudden realisation that there is no up-to-standard pastry outlet anywhere across the catchment area and in the communities of Accra West. So, what we now have here at West Hills Mall is a one-stop-shop for all types of pastries,” Mr. Prosper Kumi, CEO of New York Sizzlers Pastry and Ice Cream told reporters at the opening event.

Located next to the Basilissa restaurant on the food court, the Sizzler pastries specialises in general pastry dishes like samosa, croissants, brioche, waffles, pies, quiches and cakes. The gourmet choices are extended to include sandwiches and cookies, along with the house’s special brand of hot chocolate, coffee, and smoothies.

“We have joined West Hills Mall’s famous food gallery with abundant culinary expertise and experience, and our commitment stems purely from ensuring that we promote healthy eating among our patrons….as opposed to the excessive oily and fatty diets most people are accustomed to,” Mr. Kumi said.

He announced that the patisserie is open to customers throughout the week from 8:00 am till 8:00 pm on weekdays and from 8:00 am till 10:00 pm on weekends, and operates a large volume of takeaway services but also has the facility to cater for a limited number of eat-in customers.

New York Sizzlers Pastries and Ice cream join an exciting crop of new stores that were introduced into West Hills Mall’s tenant portfolio over the past ten months, which has greatly enriched the shopping experience of shoppers and patrons – even within the restrictive social environment of COVID 19.

UK Brands is a new retail chain that signed up at West Hills Mall late last year and has fast evolved into one of the most fancied clothing retailers in the country, offering assorted UK-branded clothing at affordable prices.

UK Brand’s mission has been to provide the average Ghanaian with quality clothing and use its business to radically change the wrong mentality that quality brand-new clothing at shopping malls must be expensive.

Then there is Jocent – another fashion store, a successful Ghanaian-owned retail outlet that initially tested the market with stores in Adum and Kumasi, and later progressed into trading in the malls beginning with its home centre, Kumasi City Mall, before joining West Hills Mall last November.

At West Hills Mall, Jocent’s specialty has been to provide quality clothes for ladies, men and kids from all over Accra at affordable prices. The magnet on Jocent’s shop floor at West Hills Mall may be the varied range of clothing on offer every day of the week: casual, formal, smart casual, shoes and underwear for all sizes and ages.

Banana Home, a superbly-stocked home deco store, joined the West Hills Mall family in early December… just in time to avail itself for waiting patrons during the festive season. The store has never looked back since then and continues to charm teeming customers with a wide variety of assorted electronic gadgets and home décor.

The mall’s newest furniture people, AJ Boaz, is already a household name at West Hills Mall, having entered the retail market with their first store, a footwear shop, two years ago. The new store deals exclusively in quality upholstery, living-room furniture and accessories.

Another exciting new entrant to West Hills Mall is Divine Organic Hub, a health and beauty specialist that after a successful exhibition at the mall decided to have a permanent presence for the benefit of its patrons. They opened for business in November last year, offering a rare range of organic products including the black seed, flaxseed, chai seed, coriander seed, carrot oil, avocado oil and rosemary oil.

The Addos is an afro-café and restaurant, which makes a lot of difference at West Hills Mall after literally ‘pounding’ its way into the food court last year. The restaurant headlines all over town as one of the most irresistible ‘fufu’ joints in the whole of Accra.

President cuts sod for Tamale water project

July 30, 2020

President Nana Addo Dankwa Akufo-Addo has cut sod for the commencement of the Tamale water supply project in the Northern Region.

The project is being undertaken with a US$223 million credit facility from the UK Export Finance and the Dutch Bank. It will address the water crisis across the country and improve water supply in terms of quality, quantity and reliability to the people of Tamale and its surroundings when completed. It will also put an end to water-borne diseases such as cholera.

It will supply potable water to 792,000 residents of Tamale and its surroundings and forms part of the government’s agenda of ensuring easy access to quality water in conformity with the 2030 United Nations Sustainable Development Goals (SDGs), the President said.

He lamented that a sizable population of the Tamale area still do not have reliable access to potable water and as a result, the Ghana Water Company Limited has had to implement a water rationing programme as an interim measure.

The President, as part of his tour of the Northern, Savannah and the Northern East Regions, had earlier inaugurated the Yapei and Nalerigu water supply projects and also cut the sod for the Yendi and Damongo water projects in fulfilment of his 2016 manifesto promise to the people.

According to President Akufo-Addo, the current water supply in Tamale is 9 million gallons per day while demand is pegged at 20 million, representing a shortfall of some 11million gallons per day.

He, therefore, noted that the project seeks to enhance water supply system in the metropolis, by building new water supply infrastructure which will rely on the White Volta at Yapei, with a 29.7 million gallons per day capacity water treatment plant.

He stressed the need for the inhabitants to take good care of the projects to achieve the intended purpose while assuring of his government’s commitment to ensuring citizens have access to potable water.

Post COVID-19 economy’s growth rate is below potential – IEA

July 30, 2020

The Institute of Economic Affairs (IEA), a think-tank, has described the nation’s four-year growth rate projection of 5.4 percent as low, and below its potential compared to the various policies outlined in the budget to resuscitate the economy from the impact of COVID-19.

According to the Director of Research at the IEA, Dr. John Kwakye, the ambitious policies outlined in the budget to spur growth require a higher growth rate projection.

Speaking at the Institute’s press briefing on the Mid-Year Budget Review, Dr. Kwakye said: “It has to be said that even though the medium-term forecasts have been affected by initial impacts of the pandemic, the projected aggregate and sectoral growth rates are still quite moderate”.

On the assumption that the pandemic will abate significantly by end of the year – an assumption that is subject to considerable uncertainty, the economy is forecast to rebound from the much-depressed base with aggregate growth estimated to average about 5.4 percent over the medium-term, 2021-24. Agricultural growth is projected to average 4.8 percent during the period; industrial growth, 5.8 percent; and services growth, 5.1 percent.

“At this pace of growth, it will take a much longer time for Ghana to transition into upper-middle-income status. The question that needs to be asked is whether this is Ghana’s potential growth profile. We do not believe that it is. Indeed, Ghana is capable of growing at much higher rates if we beef-up our policies,” he said.

He noted that Coronavirus Alleviation and Revitalisation of Enterprises Support (CARES) programme to be implemented by the government with the aim to recover and grow from the scourge of the Coronavirus pandemic is expected to yield more results during its second phase; therefore, that period should have the country growing higher and faster than what the Finance Minister is anticipating.

“The Budget Review articulates quite comprehensive and far-reaching policies to get the economy back on track under the second phase of the CARES programme. According to the minister, the programme’s main aim is to support the economy to emerge quickly from the pandemic and ensure it is stronger and more resilient.

“This will be in consonance with the president’s Ghana Beyond Aid (GBA) agenda. Appropriately, emphasis is being placed on improving the private sector environment by supporting Ghanaian businesses in targetted sectors: such as light manufacturing, pharmaceuticals, textiles and garments, machine tools, ICT and the digital economy; modernising agriculture through support for commercial farming and attracting the youth into farming, and promoting agro-processing; and supporting AfCFTA with the aim to make Ghana a regional financial, manufacturing and logistics hub.”

Dr. Kwakye added: “The minister also indicated plans to review and optimise implementation of government’s flagship initiatives – including One District, One Factory and Planting for Food and Jobs/Rearing for Food and Jobs, infrastructure projects, and natural resources exploitation.

“This review is in the right direction, as it will provide the opportunity for the government to streamline and improve the initiatives where necessary. These policies, in general, are important for the economy’s immediate resuscitation and long-term growth. However, the fact that, in spite of these policies, the economy is still projected to grow at a moderate pace tells us that we need to do even more.”

Two out of every five Ghanaians are poor – GSS

July 30, 2020

For every five Ghanaians, two of them are identified as multidimensionally poor – meaning more than 45 percent of the country’s population are affected by multiple types of poverty, a Ghana Statistical Service (GSS) report has revealed.

Multidimensional poverty considers the many overlapping deprivations that poor people experience. The Multidimensional Poverty report, which gathered information from 14,009 households and 59,864 individuals, shows the multidimensional poverty headcount ratio is between 43.7 percent and 47.5 percent of the population.

Again, the intensity of poverty, which reflects the share of deprivations each poor person experiences on average, is 51.7 percent. This means the poor are disadvantaged in six or more of the following twelve indicators: electricity, water, housing, assets, overcrowding, cooking fuel, sanitation, school attendance, school attainment, school lag, nutrition, and health insurance.

A break-down of the report shows 86.8 percent of poor Ghanaians, irrespective of their poverty status, are deprived of sanitation; i.e., households which have no toilet facilities, use buckets or pans, public toilets, or share toilets outside the house. The next thing that poor Ghanaians are deprived of is health insurance, as the data says 64.6 percent of them are not covered by health insurance; rather surprisingly, as politicians always boast about the National Health Insurance Scheme covering a large number of the population.

Housing is next on the list, as the study shows 36.6 percent of the poor population use inadequate flooring or walls made with one or multiple of the following materials: earth, mud, palm-leaves, thatch made with grass or raffia.

Furthermore, the data shows 35.4 of poor households have, on average, more than three people per sleeping room. And again, 22.4 percent of the poor population drinks water from an unclean source – i.e., from tanker supply or vendor-provided; unprotected well; unprotected spring; river or stream; dugout, pond, lake, dam, canal or some other source; or a round-trip distance to collect water which takes 30 minutes or more.

The percentage of the population that is vulnerable to multidimensional poverty is 31 percent – and 21.4 percent of the population are considered to be in severe poverty. On geographical considerations, the report shows the levels of deprivation for all the indicators are higher in the savannah compared to the remaining two ecological zones.

Another important revelation in the report is the age groupings of multidimensionally poor people. The data surprisingly reveals multidimensional poverty is prevalent among children under 15 years – contrary to the previous belief that the risk of poverty is prevalent among the elderly. The results suggest that households without a child are likely to be less poor.

In prescribing solutions based on the data collected, the report advised policymakers to prioritise the use of resources in order to reduce the high deprivations in the indicators of wellbeing.

“Against the backdrop that the percentage of multidimensional poor individuals deprived in each of these indicators varies across ecological zones and administrative regions, it is important to prioritise and sequence policy actions as functions of the percentage of individuals and households facing each deprivation.

“Regarding child indicators, it is pertinent to mention that the government should continue working with the existing institutions on reducing deprivations in school attendance, school lag and child undernutrition.”

Jobs, livelihoods hinge on diligent implementation of CARES – TUC

July 30, 2020

TUC demands suspension of petroleum deregulation policy

The Trades Union Congress has commended government for its introduction of the Coronavirus Alleviation and Revitalisation of Enterprises Support (CARES) programme, and indicated that hundreds of thousands of jobs and livelihoods depend on diligent implementation of the programme.

In the TUC’s preliminary comments on the Mid-Year Review of the 2020 Budget Statement and Economic Policy, the Union said: “Coronavirus has fully evolved into a full-blown economic and employment crisis. Hundreds of thousands of Ghanaians have already lost their jobs and livelihoods. The measures announced by the Minister for Finance in the mid-year budget review have come at the right time.

“The extension of financial support to larger businesses, the proposed unemployment insurance scheme, and the training and retraining programmes are timely interventions which will help ease the burden on businesses and workers in these difficult times The TUC fully supports these initiatives. We are ready to work with government and all other stakeholders to design and implement these important initiatives.”

The TUC recalled how, in May 2020, it called for additional stimulus to support businesses and workers, and therefore welcomed the programme with the hope that it will deliver on its promise to transform the economy.

“According to the Minister for Finance, the three-and-a-half-year programme is designed to mobilise GH¢100billion between 2020 and 2023. As the Minister for Finance stated in his presentation to Parliament, the Ghana CARES Programme has benefitted immensely from wider stakeholder consultations. That is part of its strength.

“In our view, the programme has the essential elements needed to address the impact of COVID-19 on workers and households, as well as on businesses in the short- to medium-term as envisioned under the Ghana Beyond Aid initiative. The increased funding to enable the CAP-BuSS (Coronavirus Alleviation Programme Business Support Scheme) to support a lot more MSMEs is a step in the right direction. Equally important and necessary is the decision to extend support to larger businesses that are not covered under the current CAP-BuSS.”

The TUC believes that support is needed to enable big businesses to weather the COVID-19 storm and retain their employees. It feared that without the support many businesses, especially those in the hospitality, manufacturing, private education and aviation sectors, will in no time be forced to terminate employment for a significant number of workers.

On the National Unemployment Insurance Scheme, the TUC applauded the decision, saying: “The proposed scheme presents a great opportunity for assisting the current cohort of workers affected by COVID-19 and at the same time prepare the nation adequately for future crises. TUC also welcomes the seed-fund for training and retraining of workers who have lost their jobs due to the pandemic. The training and retraining programme will allow a significant number of workers to upgrade their skills and competencies, and enable them to return to the labour market”.

Regarding the pandemic’s impact on the economy, employment and livelihoods, the TUC noted again that: “In April, when the Minister for Finance appeared in Parliament, he hinted at a dramatic drop in national output as a result of the coronavirus pandemic. Following the partial lockdown of Accra and Kumasi, the minister estimated that GDP growth for 2020 will be 1.5 percent – down from the initial projection of 6.8 percent at the beginning of the year.

“In the mid-year budget review, the growth projection has been revised to 0.9 percent. This will be the lowest growth rate since 1984. But Ghana is not alone in this spectre of decreasing national output. Africa’s economy will decline by about 3.2 percent, which will be the continent’s first recession in 25 years. The world economy, as a whole, is expected to contract by 5.2 percent according to the World Bank.

“The decline in economic activities has translated into equally massive employment and livelihood losses in a short space of time as a direct result of the pandemic. The indirect or secondary impact on jobs and livelihoods has equally been substantial. Without significant government intervention, many more people risk losing their jobs and livelihoods.”

On measures taken to mitigate the social, economic and health impact of the pandemic, the TUC is of the view that since the outbreak of the pandemic in March 2020, the government has implemented several measures aimed at containing its spread while moderating its economic and social impact on the population. For the union, the National Emergency Preparedness and Response Plan (NEPRP) has been quite effective.

It explained that under the NEPRP, extensive testing, contact tracing and treatment have been achieved. The union added that thousands of additional health personnel were recruited for this exercise, and government has also provided personal protective equipment, incentive package for frontline health personnel, and extensive education on the pandemic among other measures.

The TUC acknowledged that on the economic and social fronts, the response has equally been strong; and through the Coronavirus Alleviation Programme (CAP) government has implemented a series of interventions intended to reduce the population’s suffering. Among these are free delivery of both cooked and dry food packages to poor and vulnerable individuals and household, as well as free water and free or subsidised electricity to households and businesses.

“Under the CAP Business Support Scheme (CAP-BuSS) government has rolled out a soft loan scheme to support micro, small- and medium-sized enterprises (MSMEs) as part of measures to preserve jobs and livelihoods.

“Government has also established the COVID-19 National Trust Fund, which has so far mobilised over GH¢53million in donations. The Trust Fund has supported the procurement of PPEs and other medical items, COVID-related education and sensitisation material, studies on the impact of the pandemic, as well as the construction of the very first infectious disease centre in Ghana” the statement said.

Editorial: As COVID-19 restrictions are gradually eased, onus rests on individual responsible behaviour

July 29, 2020

Dr. Tedros Adhanom Ghebreyesus, the WHO chief executive, is to reconvene the agency’s emergency committee this week to assess the pandemic.

He admitted that the world has made a huge effort, but conceded that there is “a long hard road ahead of us”.

The WHO first declared the spread of the virus to be an international health emergency in January, and there is no possibility that status will be changed at this point.

Ghana recorded 655 new cases of coronavirus yesterday, bringing the total number of confirmed cases to 33,624.

However, recoveries/discharges have increased to 29,801, leaving the country with 3,655 active cases. The president, in his 14^th address to the nation on updates of the pandemic last Sunday, said COVID-19 will remain a part of our lives until a treatment is found.

However, Ghana cannot remain in a never-ending crisis management situation; therefore, he announced the second phase of the gradual easing of restrictions – which brings a rebounding of economic life. However, as a precaution, the country’s borders remain closed to human traffic; which shows we appreciate the complexity of the problem at hand, and will not rush to ease all restrictions since we are not in normal times.

Minister for Finance Ken Ofori-Atta presented government’s mid-year review budget to Parliament and announced a Relief, Resilience and Recovery plan, with the overarching aim of providing relief to the ordinary Ghanaian and strengthening productive sectors of the economy to ensure sustained economic activity.

Government is resolved in this second phase to help Ghanaians fully return to their daily routines, President Akufo-Addo indicated, but further admonished that Ghanaians remain vigilant, and respect the enhanced hygiene, mask-wearing and social distancing protocols that have become part and parcel of our daily routine.

As the country’s recovery rate improves we need to remain steadfast, since the virus is no respecter of persons, and adhere to the laid-down health protocols as the world endeavours to find a cure for this deadly virus.

Editorial: Emancipation observed in spite of COVID’s hit to tourism

July 29, 2020

The Minister of Tourism, Arts and Culture, Mrs. Barbara Oteng Gyasi, marked this year’s Emancipation Day with wreath-laying ceremonies in Accra.

A delegation comprising government officials, traditional rulers, and members from the Diaspora laid wreaths at the grave-sites of renowned Pan-Africanists W.E.B Dubois, George Padmore and Dr. Kwame Nkrumah.

Recounting the recent killing of George Floyd, an African-American in the United States, Chief Executive Officer of the Ghana Tourism Authority, Mr. Akwasi Agyeman urged Africans to embrace their culture and heritage – highlighting the interconnectedness of the African struggle on the continent, Europe and the Americas.

This important event in the country’s tourism calendar was observed this week despite the fact that the Tourism and Hospitality Industry has incurred losses running to US$171million as a result of the coronavirus (COVID-19) pandemic. The amount was for the period March to June this year, due to lack of operations.

Border closures have prevented the anticipated volume of African-Americans and Afro-Caribbean, scholars of Black history, and the general African diaspora from patronising this year’s Emancipation Day. The government was hoping to build on the success of the Year of Return, a tourism initiative that proved massively successful.

A total of US$1.9billion was generated into the economy through activities related to the ‘Year of Return’, with an increase of over 200,000 for total arrivals into the country. However, the outbreak of the pandemic held in abeyance any thought of building on those numbers with a view to rake in foreign currency to build the country’s reserves.

Figures from the Ghana Immigration Service indicated that the percentage of Americans arriving in Ghana reached their highest-ever rate between January and September 2019, increasing by 26 percent.

The ‘Year of Return’ cemented Ghana’s Pan-African legacy and put a global spotlight on the country, which helped to position it as a historic, cultural and vibrant hub – and the tourism sector was hopeful of building on this success by crafting a new initiative named ‘Beyond the Return, The Diaspora Dividend.’

Sadly, the global outbreak of the pandemic has put all that on hold until the virus is contained, or a vaccine is found to curb its spread.

The tourism sector – more than all other sectors of the economy – has taken a hit as a result of COVID-19, but with the improving health outlook, we are hopeful the sector will soon regain its prominence.

US, Ghana steps up fight to eliminate malaria deaths by 2030

July 28, 2020

-as Ghana records impressive results in its malaria control programme

The US government has said it is committed to supporting the country to achieving a ‘malaria-free society’ while encouraging healthy living including the use of mosquito nets, and early testing and treatment of malaria.

The U.S. Ambassador to Ghana, Stephanie S. Sullivan, said whereas the latest country data shows some remarkable achievements in the fight against malaria, more efforts should be made to sustain the gains.

“We must continue to encourage Ghanaians to adopt healthy behaviours, such as regular bed net use, and prompt testing and treatment of malaria to reduce the risk of serious illness and death.”

It is in line with this that she reiterated the United States’ unwavering commitment, saying, “I look forward to continuing our partnership to achieve our common vision of a malaria-free Ghana.”

Ambassador Sullivan, made these remarks when she joined, virtually, the Government Statistician of the Ghana Statistical Service (GSS), Professor Samuel Kobina Annim, and the Program Manager of the National Malaria Control Program (NMCP), Dr. Keziah Malm, to launch the 2019 Malaria Indicator Survey (MIS) results.

The launch highlighted impressive results in malaria control, including a nationwide 32 per cent decrease in malaria prevalence in children under five, from 21 per cent in 2016 to 14 per cent in 2019.

The survey, conducted by GSS and NMCP, provides critical data to monitor progress towards the Sustainable Development Goals and Ghana’s National Malaria Strategic Plan to achieve malaria elimination and zero malaria deaths by 2030.

With support from the U.S. government, through the President’s Malaria Initiative (PMI), the 2019 MIS also assists the government of Ghana and its partners to implement malaria prevention, treatment, and control interventions that improve health outcomes for Ghanaians.

Through PMI, the U.S. government partners with 27 countries in sub-Saharan Africa and Southeast Asia to control and eliminate malaria. Since 2007, the United States has partnered with the Government of Ghana to improve malaria treatment, control, and prevention.

PMI supports the NMCP to decrease malaria morbidity and mortality by encouraging the use of bed nets; preventing malaria during pregnancy; ensuring that malaria testing and treatment services are available across Ghana; and providing health workers with the knowledge and skills to properly manage malaria.

Now is the time to focus all attention on Wassa Mine – Golden Star … as it sells Bogoso-Prestea Gold Mine to Future Global Resources for US$95m

July 28, 2020

Andrew Wray, President and Chief Executive Officer of Golden Star

Golden Star Resources (GSR) Limited, the gold mining company that owns and operates the Wassa and Prestea underground mines, has said the sale of its Bogoso-Prestea Gold Mine to Future Global Resources (FGR) for US$95million presents the best opportunity to focus all of the company’s attention on maximizing the potential of the Wassa mine.

The company announced the sale of its 90 percent stake in Bogoso-Prestea Gold Mine to Future Global Resources, a subsidiary of Blue International Holdings Limited, a UK based private investment holding company, yesterday.

The sale, according to a statement issued by Golden Star, stipulates that an initial purchase price of US$55 million shall be paid with a further contingent component of up to US$40 million staged payments to ensure FGR focuses investment capacity on the asset itself while providing Golden Star with exposure to its long-term growth potential. Following the satisfaction of the closing conditions in the agreement, including obtaining the required government approvals, the transaction is expected to complete by no later than September 30, 2020.

In a virtual press conference after the announcement, Andrew Wray, President and Chief Executive Officer of Golden Star Resources, noted that the sale of the mine offers Golden Star the opportunity to channel all of its energies, skills, resources and attention on maximizing the full potential of the Wassa mines.

“The sale allows Golden Star to focus our attention on Wassa because it strengthens our balance sheet by providing a cash inflow of US$30million by 2023. Wassa has growth potential, a strong motivated team and churning out fantastic results. We can now accelerate the growth Wassa deserves with its accompanying investments.

Wassa, over the last two to three years, has shown tremendous growth with very high quality operations which has subsidized the operations in Bogoso-Prestea and with the sale of Bogoso-Prestea, we would now be accelerating the development of Wassa. We see ourselves as an African mining business and there are clearly lots of prospects in Ghana and that is something we would look at,” he said.

Why Future Global Resources (FGR)

Mr. Wray, asked why Golden Star chose FGR as institution to sell to and why sell now, noted that the deciding factor is the quality of the partner coming in and record gold prices makes it a good decision to sell now.

“The critical element in mining is the people involved in it. The shareholders have a track record of developing assets and businesses in Africa and are very keen to continue and committed to do that. They have a real focus on sustainability and contributing to the countries they are in. They have a range of financial backers and agreements with some of the biggest development banks and those banks are careful with who they do business with. We believe they have the right people, approach and focus.

The investor coming in wants to grow the business and not to cut it. We are at a stage of expanding the underground mine and FGR could expand and grow the assets. To the very best of my knowledge, there is no plan to cut jobs. All of our discussion have been around how to grow the business. Overtime, they would require more people and not less,” he added.

Decision shows quality of Ghana as investment destination

Mr. Wray added that in times such as these with COVID-19 still prevalent, this deal going through speaks volumes about the qualities of the Ghanaian economy as an ideal investment destination.

“This is a great transaction for Bogoso-Prestea, the workers, and the Ghanaian economy. With COVID-19, this is fantastic because companies are laying off workers, putting a hold on investment. It is a very positive development and Ghana, as an investment destination, should be proud of it.

It means Ghana respects law and order, has a good and strong industry with capable people. For the team at the site, this means that they can get on with delivering on their potential and do not want to worry about instability.”

Glenn Baldwin, Chief Executive Officer of Future Global Resources, added that FGR is delighted to acquire 90% of the Bogoso-Prestea Gold Mine as its first production asset.

“FGR is looking forward to engaging with the workforce, communities, and Government of Ghana, developing constructive and sustainable partnerships. We have confidence in the potential for additional discoveries and extensions to the underground mineral resources, through which we hope to generate real value by investing in the workforce and our relationships with local stakeholders.”

How to create a brand name

July 27, 2020

What is your name?

“A good name is to be chosen rather…” – Proverbs 22:1

Names trigger emotions, they evoke memories and they inspire actions. Out of the billions of people on earth, everyone has a name.

In West Africa, names are so important to the extent that names they give to children always have a meaning associated with it. It’s the meanings that define the names and consequently impact the lives of the bearers.

Examples from Ghana; a third-born male child of the Akan Tribe has the name ‘Mensah’. ‘Enyonam, from the Ewes means ‘God has been good to me’.

Names make people feel special. Names help in easy identification and differentiation purposes.

It’s in the same way brand names impact the market and its users.

The significance of names cannot be overemphasized; names have played vital roles since the first being occupied the surface of the earth.

History books have been filled with a significant number of names that cannot be forgotten by virtue of the various roles they played. It is by those names that we can refer to their deeds; good or bad.

How then do you choose a name that can resonate with your personality, product, service, and market?

I have identified three ways brand names can be crafted to help make it memorable, impactful, and identifiable.

Before we delve into that, here are some ideas to guide you to pick a brand name, then you can decide to fit it into any of these three ways.

Pick a name that describes what you do. An example would be Salad Masters (Into Salads).
Pick a name that doesn’t relate to what you do; it could be something you create. An example is Google (Has nothing to do with their products and services, the name was made up)
Pick any of your names or all of your names. An example Tyler Perry Studios
Pick a name that triggers emotion and connections. An example Cravings Cafe. (This may want you to crave for food)
Pick a name that defines your niche. An example is ToddlerCare
Pick a name and play with the spellings and enunciation. An example is SQIN Care, that’s Skin Care.
Pick a name in another language or a translation in another language. An example is Tonaton(In Ghana it’s a Twi phrase that means, buy and sell.

The ideas are endless, don’t be stack, permit yourself to daydream and craft your unique brand name.

Now, how to choose your Brand names, using my rule of three (3)

Firstly, go for one name:

Going for one name will imply either you have a unique name or you are willing to sacrifice to put in more work to make the brand name stand out and relevant.

‘One name brand name’ doesn’t come cheap.

Here are some global examples of ‘one name brand name’ starring from musicians, authors, thought leaders, religious leaders, products, and services.

Example: Oprah, Ronaldo, Otabil, Messi, Sarkodie, Shattawale, Obrafour, Stonebwoy, Manifest, Sinach, Oyadepo, Beethoven, Shakespeare, Jesus, Mohammed, Pele, Google, Yahoo, Facebook, Apple, Microsoft, Toyota, Honda. Hyundai, Mitsubishi, Quartz, Zoom, etc

Secondly, you go for two names. A two-name brand name also demands a level of commitment and hard work to make the name count. In using two-names, the names can be rhymed easily, they can complement each other or they can be simply unrelated. Any option you choose will be fine. The caveat is not to make its pronunciation a mouth full. 🙂

Let’s look at some global examples from all sorts of products, services, and individuals.

Example: Michael Jackson, Jesse Jackson, Seth Godin, Peter Drucker, Harry Porter, Barack Obama, Donald Trump, Tom Cruise, Tony Robbins, Fred Hammond, Joe Mettle, Cece Twum, Billy Graham, Bob Marley, Amakye Dede, Cindy Thompson, Kwame Eugene, Black Secret, Victoria Secret, Eastwood Anaba, Counselor Lutherodt, etc

Thirdly, you go for three names or initials or mixed. Anything more than three(3) should be kept as initials at best. The truth is that people wouldn’t want to mention long brand names, it’s either they create a short version of it, which may affect the brand or they resort to initials or acronyms.

It’s best to keep your brand name as simple as possible.

Sometimes the middle or first names can be made initials, then the other name or names follows.

Here are some examples of three names and initial-brand names that you can pick cues from.

Three names or initials: T.D. Jakes, J.J. Rawlings, BMW, John C. Maxwell, KOD, KKD, KSM, BKC, MOG, IPMC, ICGC, KICC, PIWC, World Trade Center, Dag Heard Mills, Bernard Kelvin Clive, etc

Lastly, remember that the internet and social media also plays a critical role in creating your brand names. Ensure that your selected name would be available across the major social media platforms and that a domain name can be acquired without conflicts. Check all that out and additionally register the name as a company or trademark your brand where necessary.

In the end, it’s what you invest in the name that makes the brand relevant. So choose your brand name carefully and work on the things that will make the name stick and tick.

Do you have questions or need help with your personal brand or business, just contact me via [email protected]

Bernard Kelvin Clive is an Author, Speaker and Corporate Trainer. Ghana’s foremost authority on Personal Branding and Digital Book Publishing. An Amazon bestselling author of over 40 published books. As a speaker & trainer, he has been known to simplify complex ideas about branding and life and present them to audiences in clear, actionable steps. He has over a decade of experience in digital publishing and has globally consulted for entrepreneurs, pastors, and people like you to write books and build brands. He hosts the number one ranked Career & Business Podcast in Ghana. Bernard is a brand strategist at BKC consulting and runs the monthly Branding & Publishing Masterclass. visit https://BKC.name

This is what happened to e-commerce since COVID 19 (1)

July 27, 2020

The online shopping basket has increased tremendously since the break out of COVID -19 and its restrictive protocols. Many people now seeing the constraints on time and movement especially have resulted in online channels to get whatever they need. In doing so, demands online for new categories of products have emerged; forcing online retailers to meet those demands. This has been the trend all over the world.

It is also believed that as we spend more time now at home most people have now come to realize some basic essentials they need at home and are turning to the online retailers to come to their rescue.

Space here in Ghana has also seen lots of new entrants who see it as an essential channel to integrate into their businesses if they really want to survive the times.

High online orders
It is obvious that all over the world there was a surge in online demands for various products and services. For example, in the US it was reported that the year-on-year in April was about 68% in revenue growth. Exponential growths in online retail revenue have also been reported for China and India and countries in Europe.

Here in Ghana we also had our share of the surge in demand for various products online.

Quicker Deliveries
For existing online retailers, we have seen circumstances changing, customers want their products delivered as early as possible. We are being pushed to forego our existing shipping policies and change them to suit the new demands. Customers are willing to pay a little more to get their products quicker. In fact, with essential products and meals being in high demand online today, we can’t afford to delay deliveries citing the usual excuses. This is really stretching our logistics and supply chains. Our partner courier service providers have come under a lot of pressure from us as customers keep calling to track their orders. Should we do the deliveries ourselves this time?

There is clear evidence of s surge in the online retail activities during this COVID-19 period. You have more customers shifting online to search and make orders. Then you have more retailers also moving online.

Opportunity
There is a greater possibility as many people test and see online channels as good as visiting the malls or Makola or Tudu, many will pick on this new habit and prefer online shopping even after COVID-19. Saving time for essential things will become a great fit for many as we have all seen the need to be at home and spend more time with our loved ones. This offers a great opportunity for online retailers to satisfy customers now, in order to retain them as future customers.

New Online Categories
As an online retailer myself and being an active player in the space, I have noticed with keen interest what the COVID-19 situation has done to the industry. Aside from having a new crop of customers making more demands, another major trend is the shift in the categories online retailers are now dealing in.

As an industry that requires retailers to be responsive to the demand of customers, category volumes are shifting drastically. Online retail here in Ghana, which used to be the preserve of mainly electronic products, phones, computers and their accessories now have to accommodate almost anything sellable.

During the Covid-19 lockdowns, there was a significant drop in the demand for things like big electronic products. However, the demand for blenders, juicers, kettles, microwaves saw some marginal increases. This could be attributed to the fact that most families staying at home had to do lots of cooking as we were in lockdown.

Demand for Groceries was high during the lockdown period. This really challenged most of us in the space who, all of a sudden had to shift attention to the demand from customers. In fact, most of us couldn’t fulfil the huge amount of demands that came in. We didn’t have enough stock to supply in most cases. The suppliers have also shut their businesses and were at home. We did the best we could though.

Another category that was also in high demand what I term as pharma. Under this category, people were demanding things like sanitizers, disinfectants, hand gloves and nose masks. In fact for the fear of being mistaken as a potential COVID-19 patient, people stayed at home and were searching online for over the counter drugs to fight common flu and cough.

We also had a high demand for cooked food. Restaurants and food entrepreneurs who quickly launched online also had a fair share of the demand.

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First National Bank to host maiden real estate developers forum

July 27, 2020

First National Bank Ghana is set to host its first-ever Developers Forum in Ghana on Thursday, August 6, 2020. It will be a gathering with real estate developers, construction experts and landowners to discuss the bank’s enhanced home loan portfolio, following its recent merger with GHL Bank.

The event is one of the positive experiences that have been carried into the merged entity from the erstwhile GHL Bank, which used to organize the Developers Forum biannually as part of efforts to grow its relationships with real estate developers while gathering ideas to help meet the nation’s increasing housing demands.

“Real Estate Developers are valuable stakeholders in our business,” says Kojo Addo-Kufuor, Executive Head of Home Loans at First National Bank. “By staying in contact with them, we are able to work together to help address the country’s housing deficit which is estimated around 2million.

This Developers Forum offers us a fine opportunity to introduce the leadership of our enhanced Home Loans team, share the refined processes and discuss support areas to scale up the provision of homes to as many Ghanaians as possible.”

At the upcoming Developers Forum, the team from First National Bank will be sharing value propositions for retail and commercial banking, investments and forex trade as well as the home loan offering and processes, all of which are relevant to developers and service providers within the ecosystem.

Delali Dzidzienyo, Head of Marketing and corporate affairs at First National Bank says: “Now more than ever, we need to find innovative ways of sharing trends to enhance and facilitate the supply of properties to meet the increasing demand.

The COVID-19 pandemic has been hard-hitting, but we need to highlight the potential opportunities for local developers to identify alternative practical solutions for the housing deficit in Ghana. This session will be a forum to discuss ways we can collaborate better, grow our businesses together and welcome our partners to the First National Bank family.”

The free-to-participate virtual event will be accessible to only real estate developers, land retailers, contractors and home builders, manufacturers and retailers of building materials as well as suppliers of ancillary home supplies. Interested participants will need to register via any of the First National Bank social media pages for confirmation of slot.

Fidelity Bank trains SMEs on accessing finance during crises

July 27, 2020

In line with Fidelity Bank’s deep-rooted commitment to growing its Small and Medium Enterprises (SMEs) base, the bank in collaboration with the International Finance Corporation (IFC) held the second session of its four-part webinar series on the topic Accessing Finance During Crises.

Organized under the Fidelity Presents… thought leadership initiative, this second session focused on training SMEs on how to access loans, funds and grants to grow their businesses during and after the COVID-19 crisis.

SMEs drawn from various sectors of the economy took part in the webinar to get adequate information on the topics of funding options, loan vs. line of credit, borrower considerations, and lender considerations.

Opening the webinar, Linus Kumi, Director, Commercial and SME Banking of Fidelity Bank Ghana, noted that, “a number of small businesses struggle to gain access to finance. The situation has become more difficult with the emergence of the COVID-19 pandemic. Without adequate financing, it is difficult for small businesses to run successfully.

Fidelity believes in SMEs, not only as clients but as partners in job creation and economic growth. Hence, we saw the need to help SMEs to understand the key considerations for borrowing money.”

Nana-Esi Idun-Arkhurst, Divisional Director, Retail Banking of Fidelity Bank Ghana added that “our strong commitment to the growth and development of SMEs led to the provision of incentives like loan moratoriums, loan restructuring, and other considerations to help SMEs to fortify their businesses to withstand the economic shocks resulting from the pandemic.”

On the possible reasons for pandemic borrowing, leading IFC consultant, and the facilitator for the webinar, Margaret Jackson advised participants to invest borrowed money into technology to adapt to changing trends and to increase production to meet demand. “Do not borrow money to repay debt. You put your business in a debt cycle that is difficult to exit” she informed participants.

Ms. Jackson added that participants need to create a plan to keep their businesses profitable, manage their cash flow and adapt for the crisis and the future.

While expressing appreciation and gratitude to Fidelity Bank and IFC for providing them with such valuable content, participants also requested for more capacity building programmes in the area of finance.

Fidelity Bank held the first edition of its thought leadership series Fidelity Presents… for SMEs on Thursday, June 11, 2020, on the topic An SME Perspective: Surviving Today to Thrive Tomorrow. The next edition in the SME webinar series will take place on Thursday, July 30, 2020, at 10 am on the topic Communicating with Stakeholders During Crises and the final edition titled Adjusting your Business Plan During Crises will be held on Thursday, August 13, 2020, at 10 am.

President tours Northern, Savannah and North-East Regions

July 27, 2020

The President Nana Addo Dankwa Akufo-Addo is on a three-day working visit to Northern, Savannah and North-East Regions.

The President is expected to touch down by 3.00 pm and begin the tour in the Savannah region. He will first pay a courtesy call on Kusuguwura at Yepei and later commission the Yapei water project as well meet with the Yapei constituency executives to mark the first day of the tour.

It is also expected that he will pay a courtesy call on Nayiiri Naa Bohagu Mahami Abdulai Sheriga, King of Mamprusi, Nalerigu, commission Nayiri water project, as well as cut sod for the construction of an ultra-modern regional Youth Employment Agency office.

He would later proceed to Tamale to cut the sod for the Tamale water project as well meet with the party executives on the same day.

In the Northern Region, President Akufo-Addo will call on Yaa Naa Abubakari Mahama II, and then also cut the sod for the construction of Yendi water project to ease the burden of the residents in accessible portable water.

He will also be in Damango, where is expected to meet with the Paramount chief of Yagbon, Yagbonwura Tutumba Boresa II, cut sod for the Damango water project and also meet the party executives in the region to end his tour of the North.

Churches, mosques reopen fully but with two hour sessions

July 26, 2020

President Nana Addo Dankwa Akufo-Addo has lifted restrictions on religious gathering from an hour to two hours.

He intimated this in his 14th address to the nation on measures taken against spread of coronavirus.

“Our churches and mosques have been open for prayers and services over the past seven weeks adhering to 25 percent occupancy or up to 100 congregants over a time duration of up to one hour per service.

I extend my deepest appreciation to all religious leaders for their strict adherence to all safety protocols which have prevented outbreaks since they started services.

I have sorely missed going to church as many have. I am therefore very happy to announce that in consultation with our church leaders from 1st August, 2020, restrictions on the number of congregants worshipping at a time will be lifted with the length of time moved from one to two hours per service,” he said.

He further stated that churches participating in these new measures must ensure that congregants observe all safety protocols at all times.

The president urged all religious bodies to maintain a more ventilated room for their places of worship.
He explained that the second phase of easing restrictions includes the reopening of tourist sites to the public.

“Tourist sites can begin to receive visitors, open air bars can begin to operate. These facilities are tasked to ensure strict adherence to all safety protocols,” he said.

Beaches, pubs, cinemas and nightclubs however, remain closed until further notice.

KNUST wins 2020 Enactus Ghana national competition

July 26, 2020

Once a year, a select group of students, academic leaders and businesses from across the country gather together to showcase how their entrepreneurial efforts and collective innovative ideas are transforming lives and creating a better future for people in their communities and beyond.

A hearty congratulation to the Enactus team of the Kwame Nkrumah University of Science and Technology. The competition was scheduled for opening, semi-final and final round leagues respectively. It was keenly contested by 10 University teams namely; University of Ghana, Legon, University College of Management Studies, University for Development Studies-Tamale, University for Development Studies-Navrongo, Tamale Technical University, Central University College, University of Cape Coast, Ghana Institute of Management and Public Administration, University of Mines and Technology, and the Kwame Nkrumah University of Science and Technology. Four schools made it to the finals with KNUST bagging the first position, UCOMS – 1st runner up, UDS, NAVRONGO – 2nd runner up and UG – 4th place.

This year the Enactus National Competition took a twist to adjust to the New Normal as all 10 teams held a virtual competition presenting over 16 projects. The Enactus Maiden Virtual Exposition attracted over 22,000 virtual attendees representing over 400% increase in attendance over the last 2 decades of the existence of the competition. It is imperative to know that this reach excludes twitter and Instagram viewership.

Kwame Nkrumah University of Science and Technology presented outstanding and cutting-edge projects such as the ‘Well-Fed Project’ which is targeted at providing farmers with 21st-century farming methods; ‘efishent project’ which designed an efficient fish storage facility for some fishing communities and the ‘ReL Project’ which created a comprehensive virtual platform for the deaf, one of its kind in the history of Ghana.

Other awards included

Best Alumni of the Year Award – Bucky Evans, Enactus Alumni
Alumni Essay Competition Award – Linda Afua Apkohor, GIMPA
Best Faculty Advisor Award – Mr. Heshbon Opata, Enactus UCOMS
Best Team Leader Award – Georgina Kwartemaa Boamah, Enactus KNUST
Favourite Team Leader Award – Theophilus Delali Dumenyo, Enactus KNUST
Partner Champion Award – Absa Ghana

Most Innovative Project – FAMA’s Voice, Enactus GIMPA

Enactus is a student organization that brings together college students, academic professionals and industry leaders to focus on a shared mission of creating a more sustainable world through entrepreneurship. Team members contribute their time and talent to projects that improve the lives of people around the globe.

The National Champion, KNUST is expected to represent Ghana at the first-ever Enactus Virtual World cup in September 2020. The team will join over 36 countries worldwide for this competition.

The Enactus Ghana Competition was proudly sponsored by KPMG Ghana and absa Ghana.

Late Prof. Mills’ family calls on Prof. Naana Jane Opoku-Agyemang

July 26, 2020

The family of the late Prof. John Evans Atta Mills has paid a courtesy call on the Vice-Presidential candidate of the National Democratic Congress (NDC), Prof. Naana Jane Opoku-Agyemang, to offer their support for her selection to partner the upcoming, election

They noted that they are excited about the Party’s nomination, and pledged their support to her and the NDC while also wishing her well in the upcoming campaign.

They advised her to focus on the task ahead and not be distracted by negativity from persons who do not wish her or the nation well.

Prof. Opoku-Agyemang thanked the family for their support and also pledged to abide by their advice and work hard towards securing victory for the NDC come December 7th 2020.

She said, “For me, a victory for the NDC means victory for the whole of Ghana and an opportunity to work hard to address the many development needs that confront our nation today. It will also be a victory for the legacy that President Mills left this country.”

The family, led by Opanin George Aryee Thompson, the Family Linguist, was in Accra for the wreath-laying ceremony to commemorate the passing of the late former President, Prof. Mills.

The President’s Face Mask

July 26, 2020

“But every president’s state of health is an important national concern, especially in an election year. The opposition would always undertake to magnify the minutest abnormality in a president’s anatomy for the purpose of prosecuting political mischief. For this reason, the health secrets of a president is better guarded than the Nsawam Prison.”

For all those who feel they have a bone to pick with the official reasons advanced for the 14-day intensive isolation of the President, I say mind your own business ─ “di wu fie asem!”

The Minister for Information who happens to be an old acquaintance of mine (although I am not sure he would remember me vividly now) has provided convincing reasons why the President had to isolate himself for 14 days.

I heard it from his own mouth when he said that our Commander-in-Chief was exposed to a person who had the virus, and so as a matter of precaution, he had to self-isolate for the mandatory 14-day period in keeping with global standards of self-preservation. I thought this alibi was quite credible and almost convincing. But many doubting Thomases have since opposed this cogent explanation profusely, ascertaining without much proof, that the President might have indeed contracted the virus.

Don’t ask me what such a person of contamination was doing close to the President. Neither am I able to tell thee about the culprit’s gender, or even insinuate, by the smallest margin of success, the location in the House of Jubilee where this illegal transaction took place nor am I able to hazard the time, whether by day or by night of this unhealthy transfer.

But let’s call spade a spade ─ the President’s action deserves abundant applause. His self-quarantine has granted him some well-deserved rest, and fortified him for the action-packed pre-election hysteria of activities awaiting his leadership. And don’t forget that the President’s physical, mental, emotional and even spiritual happiness is a matter of paramount importance to every Ghanaian!

But every president’s state of health is an important national concern, especially in an election year. The opposition would always undertake to magnify the minutest abnormality in a president’s anatomy for the purpose of prosecuting political mischief. For this reason, the health secrets of a president is better guarded than the Nsawam prison.

I remember the famous Airport Declaration by former President Mills several years ago. (May his sweet soul rest in peace). He had just returned home after undergoing some medicals abroad. Thereupon, he was ambushed by the paparazzi at the Airport, and he had to provide presidential sound bites to a barrage of scrutable questions including concerns about the legitimacy of his health!

It was around 7 pm if my memory is to be trusted, and I was driving on the Nima Highway when a question about the state of his health caused my hair to stand on end. The questioner wanted to know if he was in good shape to continue his service to Ghana as president and whether he was in good shape to run for the coming elections on the ticket of the NDC.

He answered the difficult question with some bravado and enthusiasm the way any man who trusted in God would. He even validated his newly acquired strength by doing a little athleticism on the tarmac or somewhere in the perimeter of Kotoka to show his readiness to lead the NDC to victory! But listening to him on radio, there was no doubt all was not well with the good old professor, and that he needed some prolonged rest from all the acrimony and boiling waters of partisan politics. The writing was on the wall!

Thank God Nana’s aggravated cough is no more, but he must wear a face mask. No one has urged, petitioned, even pleaded with Ghanaians to wear a face mask more than the President, yet like Donald the Trump, he scarcely uses one himself. He has never used a face mask in any of the “Fellow Ghanaians” presentations he has made these past four or so months, yet he is the chief proponent of the theory of face-masking in this country.

Nevertheless, I believe my old friend, the Minister, when he says the President tested negative for COVID twice during his discretionary separation. Let those mongering information contradictory to the Press Secretary’s official parody provide ample justification for their mischief or hold their peace in perpetuity!

My wife says NO!

July 26, 2020

When one of those ladies send you a message to find out how you are doing, just respond ‘I am good’ and leave it there. Make no mistake of asking: ‘How about you or hope you are doing well too, o?’. That is when you get to open the pandora box for the ‘problems outline’. Don’t worry if she thinks you are not caring by not asking: ‘I am good, how about you or hope you are doing fine too’! It is an indirect invitation to treat! We know the tricks of some of them o, yoo!

Some of them are not smart koraaa o; they simply don’t know that nothing kills a man’s ‘elections’ faster than when they start telling the guy so many ‘negative things’ even before the ‘tender process’ begins after just common ‘Expression of Interest (EOI).’ ‘My phone screen is cracked; I can’t chat you up until I fix it’. ‘My phone battery is spoilt so I am even talking to you now using my Mum’s phone with my chip in it’! ‘I will be attending a funeral this weekend and I need to do my nails’. They may not tell you directly o, but they expect you to reason up! Hmmm!

Me, Zogbenu? At this point, I will ‘shrink’ down there no matter how ‘pumped’ you the lady may be at the front or at the back! The next line of action is to make sure I block you. After all, it is because of some of these unwarranted harassments that phone manufacturers put a feature like ‘Block Contact’ on phones.

At least wait small for me to commit myself by first ‘torching’ the thing before asking but payment before service? It’s even more amazing how some of the vulnerable ones are easily carried away by mobile phones. Some of them don’t have mattresses to sleep on o but their priorities are phones.

It is one of the reasons there is probably nothing more hypertensive than a side Chic who will not call you during the day around 4 pm to 6 pm but chooses to call you Monday morning or 10 pm! This applies mostly to the attention-seeking and mommo-conscious ones. It can be so so annoying er!

There is another category that will choose to call to just say ‘Hello’ on Monday. Saturday and Sunday are there but they won’t call o. I almost said I have some who are usually relaxed when they call with unnecessary gimmicks: ‘Ei so you dey and you have refused to check on me’, ‘So now that the money has come, you have forgotten about me’. Why not call the Central Bank Ogah to tell him these things? Me? My money has come? From where? I see! So I should be spreading my manageable income so that when I go on retirement, I become a pauper and the same people will start making a mockery of me that after having worked for so many years, even foko, I couldn’t do and now see how I and my family are suffering’. Be wise o, men. This side chic industry is such a stressful one o but as men, excluding me, sometimes, we keep going after them. What is wrong with us koraaa han? Ah!

The tithe we refuse to pay, go to some of our gers o. Come to think of it, should we calculate the 10% of the Malachi 3:3 before we think about those whose phone screens are cracked or we fix the cracked phone screens before the tithes are paid? Just asking o.

My wife said she wanted a house-help though I have personally not been comfortable with that. She needed help so I kind of gave in but on one condition – let me be the one to do the recruitment! She didn’t have a problem. I am not a fan of the house-help concept because of some of the many stories I hear about them. That some have evil eyes, they can assault your children, they can quit the job without telling you and some to the extent of absconding with some of your belongings.

Often the idea of using a nephew or niece also comes up for discussions but this is another dangerous one. When your wife changes her cloth, niece or nephew will go and do konkonsa to your siblings that ‘your wife has jujued you and because of that you are spending too much on her and ignoring the external family’. They often do this forgetting that your wife may be a working person too and can afford some of the luxuries of life by herself. Africa…Africa….Africa yeeei! We have a problem o!

Yeso, have you observed that anytime one problem rears its ugly head, an old lingering problem gets solved somehow? Having gone round parts of the country in recent times, I have observed something. In spite of COVID 19, it looks like there could be bumper harvest this year o, if that is not happening already. Everywhere I passed, all crops seem to be blossoming very well. Talk of maize, cassava, cocoa, yam, cocoa, mangoes (apart from the local ones), name them. The rains have been consistently balanced for crops to thrive well. Meanwhile, the climate uncertainties in the past couple of years were responsible for crops not yielding very well, but now see, COVID has come to change it. Even the fall armyworms wahala was not visible so I have personally concluded that they may have been killed by C19. As soon as Coro come norrrr, crops appear to me to be doing well as the rains keep coming in measured volumes and intervals necessary for crop survival. Clap for God er. Kpa kpa kpakpakpa kpaaaaa! I can imagine how nice 2020 would have been without C19 and with a bumper harvest! But you see, life can never be without a problem. As soon as one problem gets solved another one will come, no matter what. ‘the weather is hot, let there be rains. The rains come and the weather becomes cold and you pray for the sun to heat you up a bit again!

Has there ever been a time in your life when you said to yourself: ‘Thank God all my problems are solved”? I just love it when my little kids are singing alongside the song “Obiara wor problem” when being played especially on TV. Even children have a problem. They are tired of being at home without school and that is a problem or?

Everyone has a problem o.

Ooooh, you just made me forget what I’d wanted to say la. Ehern, as I was saying so I went to recruit a house-help for my wife to assist with household chores as the pressure on my mother-in-law’s daughter is great including being a career woman.

The girl was ok, nineteen years of age and has everything needed for ‘piecemeal’ any time Madam travels. She started work on day one and was very good. She wore long dresses and my wife felt comfortable. By the end of the first week, Alla! This girl was creating problems in my groin. I was controlling myself but the control would simply not control. She would wear skimpy short dresses and top that would expose her these things.

Our bedroom was such that no third party is allowed to enter because it is the headquarters of enjoyment and procreation even though our counsellor advised us to change locations once in a while.

We tried it on a gas cylinder in the kitchen before and we almost put the house on fire!

So this girl wanted to go a clean the ‘non-existent’ cobwebs in our bedroom wearing some see-through skirt bi! It was on a Sunday and my wife was preparing to go to church and I decided to have some rest by staying at home. House-help too dey house wanting to clean cobwebs in the bedroom. Hehehe! If soup does not pour on fufu, fufu was likely to fall into soup!

That was when my mother-in-law’s daughter said ‘NO’; it’s either we go to church together or that girl with voluptuous these things gets sacked.

Up till now, she has still not told me what she was scared of oo! Hahaaaa!

We sacked her but being the head of the recruitment for a house-help, I knew where to find her and what can come, came! My only wahala now is that I have exhausted all the money in my phone wallet because her father is seriously ill and the medications I have to buy er, face masks inclusive. Sin indeed fascinates and assassinates!

Lord God have mercy on us o, men. Our wives, please pray for us so we don’t bring you disease wai!

Have the best of the weekend and remember: ‘If it does not open, it is not your door’! Stay masked!

1,000MW wind power project halted

July 23, 2020

Wind-farm — Thousands of wind turbines at sunset

… gov’t’s freeze on new IPP deals delays production of cheaper and cleaner energy

A 1,000MW wind power project, which has secured all the technical permits from the relevant government and district agencies, has stalled due to government’s decision to put a freeze on discussions and issuance of licences for new Independent Power Producers (IPPs), including renewables that are cheaper and more environmentally friendly.

Despite the project, which has secured US$2billion in capital for construction and production and is ready to sell power at 8.9 cents per kilowatt-hour (kWh) to the Electricity Company of Ghana (ECG), a price that is the cheapest when compared to other IPPs in Ghana, the government is yet to green-light the project due to its commitments to expensive fossil-fuelled projects.

This has pushed the developer, NEK Umwelttechnik AG and its affiliate, Upwind International AG, to begin the exploration of options to sell directly to bulk buyers in Ghana and export the cheap power to Ghana’s neigbours including Togo, Ivory Coast, Benin, and Sierra Leone.

A visit to one of the project sites, the Konikablo 200MW Wind Farm, in the Ningo-Prampram District, which is a partnership between NEK and Enercon GmbH, the largest German manufacturer of wind turbines, shows that the construction of this farm has the potential to create 600 jobs over two years and at least 50 permanent jobs.

During the visit, organised by the Institute for Energy Security (IES), journalists were informed by NEK executives that the land, a total of 9,000 acres has been secured on a 30-year lease and virtually all permits required for construction to begin have been secured but it still awaits government’s final approval for take-off. Even after production of energy begins, the land would be returned to farmers in the community for farming activities with the construction of a state-of-the-art irrigation system to support all year round farming.

Dr. Christoph Kapp, CEO of NEK, in a zoom call, told journalists that since 2017, after meeting all regulatory requirements, the project is yet to take-off due to the government’s decision to not provide the citizenry with clean and cheaper power.

“We have been ready by the end of 2017 but the government delayed the process by saying it already had other IPPs. So even if you are cheap, we don’t need you now. It is very frustrating for us meanwhile the money is ready and investments have been secured. All we are waiting for is the government’s approval.

It is much more expensive to produce with gas and crude. We offered the lowest prices to Ghana but the government says no because we have commitments to other expensive projects. We have signed a Memorandum of Understanding (MoU) with ECOWAS in October, 2019 to facilitate the export of power to Togo, Ivory Coast, Burkina Faso, Sierra Leone and selling directly to bulk consumers,” he said.

Nana Amoasi VII, Executive Director, IES, noted that failure on the part of the government to start a project like this is a failure to taking advantage of the cost benefits of renewables that Ghanaians should be enjoying.

“The freeze on the development of a project like this means higher electricity charges because even if the government subsidises electricity, it is through our own taxes, thus government will have to fill those gaps. The right time to begin is now. many countries, some in Africa –South Africa, Morocco, The Gambia, are all advancing to renewables. If we claim we are the gateway to Africa, why should we be chasing the projects as they go along instead of leading this discussion to adoption?

Our demand for electricity will continue to grow and one may say that we have excess power supply today, but you cannot guarantee the same in the next two years because the demand grows every year. Nobody is against thermal production of electricity but going forward, we should explore renewables rather than fossil-fuelled options.”

The climate crisis

Nana Amoasi VII noted that though some may think that renewable energy is a European solution, Africa would be bearing the brunt of carbon emissions and climate change because farmers who rely on rainfall are already witnessing unreliable rainfall patterns and experiencing severe weather changes.

“This impacts on crop yields, the environment and the health bit of our life and so renewable is seeking to decarbonise the global system so that we can manage ourselves and have a sustainable life as a people.

Aside from these benefits, we also know that renewables are becoming cheaper than fossil-based power generation. And so, it is a good opportunity for us to have electricity at less cost because we have been complaining as a country that our bills are quite high which goes to impact on our disposable income and so we have a good opportunity to buy into the renewables. Let’s accept solar and wind energy that comes at less cost and has a less environmental and social impact,” he said.

He explained that in Ghana’s Renewable Energy Act 2010, there is an agenda to have 10 percent of the country’s energy mix made up of renewables by 2020, but that target has failed and currently, a Renewable Energy Master Plan has been unveiled.

“All this document most of the time gather dust, they do not end delivering the results intended. What we hope for is action, commitment from government and policymakers. If you look at the various manifestos of the political parties and even the budgets of the country, there is always the mention of renewable energies and yet we fail to take it up. One cannot understand and we do not want to speculate, but it is important that government may do its work.

Stanchart partners gov’t in a €78 million hospital project

July 23, 2020

The Standard Chartered Bank has announced the completion of an agreement for a €78 million financing to the Ministry of Finance, for the construction and equipping of the new Eastern Regional Hospital, at Koforidua.

The facility which was made possible through UK Export Finance (UKEF) is seen as a significant contribution to the government’s commitment for major investments in healthcare infrastructure.

The government committed, in the wake of the COVID-19 pandemic, to construct district and regional hospitals, to complement the existing health infrastructure and fortify health service delivery in the country.

This latest development is, therefore, said to be in line with the United Nation’s Sustainable Development Goal (SDG) 3, which emphasizes access to health services.

The Chief Executive of Standard Chartered Bank Ghana Limited, Mrs. Mansa Nettey, said the Bank continues to leverage its network to support diverse sectors of Ghana’s economy.

She said “This is a landmark transaction for Standard Chartered Bank in Ghana, as it marks the bank’s first Export Credit Agency (ECA) – supported financing for the Ministry of Finance. Given our unique position, having operated in this market for over 120 years, we remain a conduit for the long term project and infrastructure financing.”

Mrs. Nettey who was speaking at a sod-cutting ceremony for the project, further stated that “this transaction stays true to Standard Chartered Bank’s brand promise, here for good.”

She said it also “underscores our adeptness and capacity to provide sovereign solutions while supporting the government to achieve the Sustainable Development Goal of providing adequate healthcare infrastructure for Ghanaians.”

The Minister of Health, Kwaku Agyemang-Manu, acknowledged that the “project has given Standard Chartered Bank the opportunity to support the government’s agenda of boosting healthcare delivery in the country and demonstrates Government’s commitment to work with the private sector to bridge the infrastructure investment gap.

“The Ministry of Health has a number of mandates with Standard Chartered and I laud the bank for successfully closing the first ECA transaction, indicating it is a solid ECA Bank of choice,” Mr. Agyemang-Manu stated.

The Acting Head of Global Banking, Standard Chartered Bank Ghana Limited, Richard Annor Bram, said also “this demonstrates the bank’s aptitude to provide well-structured transactions and drive sustainable finance that supports the UN SDG’s in its footprint markets.”

He said “Standard Chartered acted as the Sole Lead Arranger, Original Lender, Structuring Bank and Agent for the total financing package of EUR 78 million. The efficient and successful closure of this transaction has reinforced the bank’s relationship with UKEF”.

He further noted that Standard Chartered Bank is committed to supporting initiatives that lead to socio-economic development and sustainability and believes that Ghanaians, especially the residents of Koforidua and the entire Eastern Region will enjoy quality healthcare services for decades to come courtesy of this project.

The British Chargé d’affaires to Ghana, Thomas Hartley, who was also present at the ceremony said: “Throughout the COVID-19 pandemic, and now as we continue to respond and recover from the virus, I am proud that the UK and Ghana have worked shoulder-to-shoulder to save lives, support business and industry and share expertise to lessen the spread of coronavirus.”

“At today’s sod-cutting ceremony I saw the UK-Ghana partnership in action once again, resulting in a hospital which will change healthcare provision across the Eastern Region for the first time in more than 100 years.”

76 1D1F factories in operation; 232 on course – Finance Minister

July 23, 2020

The Finance Minister, Ken Ofori Atta has said, so far, 76 factories under the government’s flagship industrialization programme dubbed the ‘One District, One Factory (1D1F)’ initiative, has been completed and currently in operation across the country.

Additionally, he said 232 other projects are on course and are at various stages of implementation.

These developments, which form part of the government’s industrial development for job creation and economic transformation is anchored by partnership with the private sector.

“Not only have we leveraged private sector support through tax exemptions valued at GH¢ 34miilion, the government has directly spent GH¢ 210.03 million as support to existing factories and for the construction of new factories,” he stated.

He noted that the industrial agenda has certainly enhanced the prospects for more jobs for Ghanaians.

Presenting the 2020 mid-year budget in Parliament, Mr. Ofori Atta also noted that there has been ease on “the credit constraints faced by 97,876 small and micro enterprises, mostly in the formal sector, under MASLOC with an amount of GH¢99.30 million between 2017 and end 2019.”

This intervention, he said, continues to help these enterprises to thrive and sustain the employment of Ghanaians, especially women.

Free SHS saved parents GH ₵3.7 billion

July 23, 2020

social interveTime to rethink funding of FSHS; as energy transition threatens financing of the policyntion programmes

The Finance Minister, Ken Ofori-Atta, has revealed that the introduction of the Free Senior High School (SHS) programme has saved parents and guardians a cumulative total amount of GH₵ 3.2 billion since 2017.

Delivering the 2020 mid-year budget, Mr. Ofori-Atta again revealed that the Free SHS policy has sustained the schooling of 1,199,750 students to-date, adding that this is a marked increase from the 813,443 students enrolled in 2016/2017 academic year.

He said parents of these students have therefore been given the opportunity to invest their cash into the future of their children.

He added that between 2016 to 2020, the school feeding programme introduced by the Kufuor administration to provide, at least, one meal to school children in deprived communities, has been extended to reach 2,980,000 pupils in deprived communities, representing an increase of 78.3 percent in beneficiaries.

“In providing equal opportunity for foundational education, through school feeding, we have invested GH₵ 1.3 billion since 2017 as compared to the GH₵ 925.56million in the three years prior to 2017,” he added.

GH₵100 billion development programme in the offing – Finance Minister

July 23, 2020

The Minister of Finance, Ken Ofori Atta, has announced that plans are advanced for the launch of a GH₵100 billion development programme aimed, among others, to revitalize the local economy, at the back of the difficulties brought by the outbreak of the coronavirus pandemic.

The three and half years programme, dubbed: “Ghana Coronavirus Alleviation Revitalization of Enterprises Support Programme,” also known as ‘Ghana CARES, “Obaatan Pa”,which will be rolled out in the coming weeks, according to the Minister, “will anchor the comprehensive transformation of our society.”

The Minister announced this at the presentation of the 2020 Mid-Year Review of the Budget Statement and Economic Policy, and Supplementary Estimates in Parliament today.

“Mr. Speaker, we wish to take this opportunity to announce to the people of Ghana that their President and his team have done a lot of thinking since March. We have brainstormed over the crisis with the view of using the challenges it presents rather as an opportunity to transform Ghana and for all Ghanaians.

I am happy to announce that in the coming weeks the President will launch a Gh¢100 billion development programme. An ambitious and unprecedented three and half years programme called: Ghana CARES, “Obaatan Pa” which will anchor the comprehensive transformation of our society.”

The Finance Minister noted that the government will continue to do what it has to do – to protect lives and support livelihoods during the crisis period.

“We have accepted that this pandemic and its effects are unparalleled in the annals of our country, and indeed globally. We have accepted that until a vaccine is found, we have no choice but to re-arrange our lifestyle in order to protect lives and promote livelihoods. It requires the marshalling of unprecedented resources to contend with the pandemic and its effects on Ghanaians,” he added.

Suspend GBC DTT directive – Prez Akufo-Addo

July 23, 2020

The President, Nana Addo Dankwa Akufo-Addo, has asked that the directive for the Ghana Broadcasting Corporation (GBC) to reduce its channels on the Digital Terrestrial Television (DTT) platform, by the Minister of Communications should be suspended.

A statement from the Presidency, issued and signed, by the Director of Communications, Eugene Arhin, asking the Minister, Ursula Owusu-Ekuful, to put on hold the decision also asked for further stakeholder consultation on the matter.

This development follows a statement issued by the National Media Commission (NMC) opposing the directive given by the Communications Minister to the state broadcaster.

Fintech solutions and digitization of banks amid COVID-19 pandemic

July 22, 2020

Banking in Ghana has been traditionally brick and mortar for some years until competition and customer sophistication drove banks to roll out innovations such as online banking services and other platforms for clients to transact business with ease. Most banks have evolved from the regular internet/online banking to collaborating with telecommunication service providers (telcos) to launch mobile apps to enable clients to conveniently manage their funds and transactions from their mobile money wallets to their bank accounts and vice versa.

The emergence of Covid-19 pandemic and its impact on service delivery in many industries including banking has led to the need for banks to liaise with fintech (financial technology) solution providers now more than ever to make transactions safer and more convenient for their clients. This article provides an overview on the history of fintech, effects of Covid-19 on the traditional ways of doing business, opportunities amid Covid-19 and the need for innovation. It would also touch briefly on government’s policy on digital financial services, collaboration required between banks and fintech firms, and the way forward in banking post Covid-19.

History of Fintech

The term “fintech”, which was coined from combination of the two words, “financial technology” is the term used to describe new technology that improves and automates the delivery and use of financial services. Fintech first emerged in the 21^st Century as the technology applied by back-end systems of established financial institutions. The scope of fintech solutions has seen some significant changes as a result of a major shift towards more consumer-oriented services. Fintech now includes different sectors and industries such as education, transportation, retail banking, fundraising and nonprofit, and investment management.

Essentially, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and daily lives by utilizing specialized software and algorithms on computers and, increasingly, smartphones. Fintech also involves the development and use of crypto-currencies such as bitcoin.

Effects of Covid-19 on traditional ways of doing business

The Covid-19 pandemic took the world by surprise and with millions having been infected and over half a million deaths recorded globally. One of the major means of spreading the pandemic is through direct physical contact with infected persons or indirect contact with surfaces in the immediate environment or that may have been used by the infected persons. Governments globally are following recommendations from the World Health Organization to implement social and physical distancing to mitigate the spread of the virus.

These recommendations have affected economic activities globally as schools, sports, hotels, religious institutions and the aviation industry have had to be closed down. In addition, borders and airports have also been closed. The sudden halt in such vibrant economic activities have led to a decline in global economic projections. Countries across the globe have revised their projections for economic growth downwards and have put some stimulus packages in place. For example, the United States of America (USA) has reviewed the Fed rate by 150 basis points in order to revive its economy. The Bank of Ghana reviewed its Monetary Policy Rate downwards by 150 basis points in March to mitigate the effects of the pandemic on the Ghanaian economy. Many banks and financial service providers have activated their business continuity plans to keep their businesses afloat in these uncertain times. The legislation of compulsory wearing of facemasks to public areas has made it relatively easier for people to go out with some level of confidence albeit with a much greater awareness of safety precautions.

Opportunities amid Covid-19 and the need for innovation

Telcos have seen a surge in the use of data during this period. As a result of the demand, major players in the industry like MTN have increased the price of their TurboNet from GH¢300 to GH¢500. This has not deterred customers as it has virtually become a necessity in households; for example, students who are at home need to connect to the internet to log into and continue their classes online. Generally, there is way more activity online as churches as also live streaming their services to keep interacting with their members, businesses are running more online ads and professionals are organizing engagements such as webinars to educate interested parties.

Physical Interactions are fading out

Meeting apps like Zoom and Microsoft Teams have gained some prominence in Ghana. In view of the foregoing, banks have had to promote the use contactless solutions such as online banking, USSD codes, banking apps, etc. to give clients the comfort to transact from home or at any location, while avoiding the need for physical visits to their branches. Banks and financial service providers have also significantly increased their engagement on social media platforms to address customer needs and queries.

Currently, over eighty percent (80%) of the 23 banks in Ghana have mobile banking apps that offer their customers the luxury to bank from the comfort of their homes and do basic banking transactions like cheque book requests, check balances, transfers and payments. This is because the banking sector no longer operates in a silo. Customers are sophisticated and are in dire need of digitized solutions that need to be done in real-time and save them money.

Covid-19 and the dire need for fintech

Challenges create the conducive atmosphere for innovation and this pandemic has created a unique opportunity for the financial sector in Ghana. Although many activities and businesses have come to a standstill, innovation has soared in collaboration with technology to create solutions that would allow businesses and individuals to stay afloat. The hardest hit are the businesses that thrived on physical human interaction especially the ones without digital channels for transactions and payments.

Prior to the pandemic, several businesses were slow to adopt digital payment solutions and preferred the use of cash. Of course, this was not so much of an issue as most customers were still comfortable handling cash. With the paranoia and the safety precautions that have accompanied the pandemic, less and less customers are keen on handling cash for payments. As a result, some of these businesses have started adopting mobile money and fintech solutions for their payments. For the customer, this means safer and more convenient transactions and interactions while maintaining social distancing protocols.

For the past few years, the banking industry in Ghana has been going through its own digital revolution. The emergence and growing popularity of fintech companies has played a role in steering the traditional banks in the direction of technological advancement with innovation being their true-north. As already mentioned, most retail banks in Ghana have rolled out a mobile banking app that allows users to manage their finances, make payments and transfers and many other features. Some of these apps, such as Stanchart’s SC Mobile, even allows users to perform transactions like changing one’s debit card PIN via the app and even purchase treasury bills and bonds. USSD versions of some of these mobile banking applications have been made available to enable users with feature phones access their bank accounts. In this era of a new normal, the use of these applications is sure to increase, if not already.

Government policy on Digital Financial Services

The Government of Ghana has launched a Digital Financial Services policy which seeks to increase financial inclusion from the current rate of 58% to 85% by the year 2023. This audacious target, if met, would catapult the country closer to its destination of being a cash-lite society. In addition, there is the objective of creating a digital ecosystem that would boost social development, the private sector, and the economy in general. There are also steps to setting up an inclusive digital payment system to give users better access to financial services. There is no better time to pursue the Financial Inclusion and Digital Transformation agenda in the country, as they have become essential to the daily lives of the average citizen.

Collaboration required between Banks and Fintech Firms

Fintechs and banks in Ghana now have a more obvious reason to collaborate to meet the mutual objective of making financial transactions easier for customers and making financial inclusion in this economy a reality. As mobile money has become the most popular option for retail transactions, we are likely to see banks and fintech integrate their platforms to deliver more innovative and cost-effective solutions for customers. For example, several small and medium-sized businesses have begun migrating their businesses onto digital channels such as e-commerce websites and social media platforms. Digital marketing finally has the spotlight and attention it deserves in Ghana, and this has created the need for convenient financial solutions to enable seamless transactions between buyers and sellers online. The need to adjust to the digital space has proven to several people how much convenience was being missed out on with the traditional methods, and it is hard to imagine people reverting to the old ways of transacting business after this experience. By being compelled to perform transactions online, both customers and business owners have realized how much easier life can be.

Increased in collaboration to deal with risks associated with fintech transactions

The rapid evolution taking place within banking and fintech will be accompanied by risks. It would be interesting to see how the banks and fintech collaborate to deliver solutions to businesses to enable them to process their transactions with ease. We are expecting to see solutions that would allow easy and seamless integrations that would focus on convenience for customers. It is important to note that these solutions must ensure the maximum security of customer data and funds. With the increase in scamming attempts through mobile money and debit cards, cyber-security must be of utmost importance to ensure that our advancement towards digital and financial inclusion would not be a traumatic one for citizens. The Bank of Ghana and regulators are now faced with the challenge of implementing policies that would protect the funds of citizens and businesses while encouraging and embracing the spirit of innovation and competition. We look forward to revised policies that would enable fintech companies to thrive while the collaborations between them and the banks are favored.

Conclusion

We envision a ‘Ghana beyond Covid-19’ where there will be minimal or no need to go to banking halls to perform basic transactions. We envision a society that would view the use of cash for payments and transactions as outmoded. Mobile banking applications by banks would roll out innovative features in collaboration with the fintech that would see users being able to purchase diverse investment instruments with ease and perform real-time international transfers. We look forward to more P2P (peer-to-peer) and B2B (business-to-business) applications that would enable interoperability and transfer of funds between mobile networks with negligible or even zero fees. The country might not be ready for blockchain technology just yet as we are still taking steps towards digital transformation. However, this can happen in the very near future as we embrace the new normal. The future of banking and finance is here and we are looking forward to seeing this revolution unfold before our eyes.

Disclaimer: The views expressed are personal views and do not represent that of the media house or institutions the writers work for.

About the Authors

Sophia Kafui Teye; BSc, MBA, GSE Cert. and CA Ghana (Student Member)

Author of the underlisted books; Start Right: A Guide to Financial Investments in Ghana; Overcoming Infertility: What to do When Childbirth Delays; Contemporary Parenting; Stepping up Your Life

Email Address: [email protected] Cell: +233-242-913-562

Derrick Crentsil; Digital Marketing Consultant
CEO, La Lune Digital Ltd (Digital Marketing Consultancy based in Accra)
Email Address: [email protected] Cell: +233-242-618-552

Opportunity International Savings and Loans holds graduation ceremony for 54 Kayayei

July 21, 2020

Opportunity International Savings and Loans (Opportunity), a leading savings and loans company in Ghana held a 2^nd graduation ceremony for 54 street porters (Kayayei) under its flagship Youth Development Programme.

The programme identified vulnerable girls who had relocated from various places especially from the Northern part of the country to the South to seek greener pastures. These girls are usually exposed to extreme hardship and are left at the disposal of some irresponsible men who rape or impregnate them and left to thrive for themselves.

The girls are engaged in carrying of loads, working as assistants in traditional restaurants (chop bar assistants), dishwashers and home cleaners. They often struggle to have shelter and this exacerbates the challenges that confront them. The beneficiaries of this project were selected mainly from the Darkuman Market and Agbogbloshie Kokomba Yam Market in Accra Central.

The girls were given a one-week training on Financial Literacy Education, Financial and Life Goal Setting, Savings, Budgeting, Customer Care, Menstrual Hygiene, Sexual and Reproductive Health Care, Planned Parenthood, Domestic Violence and Victim Support Services and Digital Financial Services.

An additional three weeks of intensive residential training was provided for these girls on some vocational skills including bead making, soap making and bakery. They were allowed to choose a trade out of the various skills developed to enable them to earn some income to fend for themselves and their families and help them to move away from living in the streets.

Startup kits for the making of beads, soap, and bakery were given to them at the graduation. As part of the programme, some of the girls will also receive startup capital to help them start their trade after graduation.

The aim of the programme is to empower these girls with alternative livelihood skills to earn a sustainable income and to become responsible young adults in a bid to transforming them to be independent and economically active. Additionally, it seeks to bring them into the formal financial services and enable them to avoid the risks they are exposed to in the streets.

The girls were excited about the great opportunity they have received from Opportunity International and expressed gratitude to the founders of the programme. They were optimistic about the success of the trade they have chosen and would also welcome the opportunity to train other girls who may need to learn from them.

The Acting Head of Transformation, Christie Love Koufie, in presenting the items to the girls encouraged them to use their acquired skills to better their lives and that of their families.

This programme was funded by The Allan & Nesta Ferguson Charitable Trust through Opportunity International UK. The Allan and Nesta Ferguson Charitable Trust was set up in 1979 by their son and daughter in law, John and Elnora. Its objectives have closely followed the interests of the Ferguson family in their commitment to education, peace and development in the Third World.

Opportunity International delivers this program as part of its holistic global strategy of financial strategy which targets such vulnerable groups. The institution serves about 570,000 depositors with loans, deposit products and other services across 10 out of the 16 regions of the country.

Ecobank Group named Africa’s Best Bank for Corporate Responsibility by Euromoney

July 21, 2020

The leading pan-African banking group, Ecobank, has won the coveted prize of Africa’s Best Bank for Corporate Responsibility in the Euromoney Awards for Excellence 2020. Euromoney recognises Ecobank’s focus on sustainability and partnerships and its core capabilities in delivering positive social and environmental outcomes across Africa.

Carl Manlan, Chief Operating Officer of the Ecobank Foundation said: “At Ecobank we leverage human capabilities and other core resources to partner for African transformation. We are passionate about co-designing partnerships to drive change at community levels across our pan-African footprint. The Euromoney Award for Excellence recognises our collaboration with African communities and like-minded partners.”

Ade Ayeyemi, CEO of Ecobank Group said: “The Ecobank Foundation is doing amazing work in delivering on its commitment to improving the quality of life of people across the African continent. The Foundation should be rightly proud of its ceaseless impact and the real difference that it is making in numerous parts of the continent. Through the Foundation, our Group leverages its resources and capabilities to contribute to the economic and social development of Africa.”

Ecobank’s Corporate Responsibility primarily concentrates on the three key areas of health, education and financial inclusion. Recent partnership examples:

Ecobank’s three-year campaign to raise awareness of Non-Communicable Diseases (NCDs) and educate communities by providing key information about the dietary and lifestyle changes required to help prevent NCDs such as cancer and diabetes. Ecobank Day is our volunteer community day targeted at helping the vulnerable sectors in our local communities.

Ecobank’s Group Chairman Sustainability Award which emphasises our role in each country in designing innovative, replicable and scalable solutions driving sustainable environmental and social change. Ecobank Togo is the 2020 winner for its support for Government efforts to provide electricity to 300,000 rural households and businesses through solar energy kits.

African economies’ health recovery is vital and Ecobank contributed about US$3 million in the form of cash, healthcare equipment and medical supplies. Moreover, Ecobank deployed its financial capabilities for the African Union’s Centre for Disease Control and Prevention to enable every citizen and member of the diaspora to contribute to the pan-African Covid-19 response.

Earlier this month, Ecobank rolled out its ‘Zero Malaria Business Leadership initiative.’ Launched in partnership with Speak Up Africa, it aims to eliminate malaria across Africa through private sector-led initiatives which increase financing and take stronger and better-targeted actions to support national malaria control programmes.

We are committed to delivering value – Axis Pensions assures markets

July 21, 2020

Axis Pensions Group has stated that the Coronavirus disease was impacting negatively on some aspects of investments but said the group will rely on its superior knowledge in investments to deliver optimal returns to clients.

The group’s Chief Investment Officer (CIO), Nana Wiafe Boamah, said that the pensions and investment institution would adopt a cautious attitude towards investment in the midst of the pandemic.

“We are going to remain very cautious about the general credit environment and therefore we do not plan to add so much to our credit and corporate bond portfolio, ” he said at the annual general meeting and an open forum for shareholders and stakeholders in Accra.

The virtual event brought together various stakeholders in the Axis Pension ecosystem, including as trustees, scheme members, custodians and representatives of the National Pensions Regulatory Authority (NPRA).

The participants were taken through the 2019 audited accounts, the performance and other related issues of the respective schemes. The Axis Pensions Group is the second-largest private pension administrator in the country.

Mr. Boamah said as part of its desire to protect investor funds, the group had decided to take caution in what it invests in. He also encouraged “investors to have a long-term mentality.”

He explained that compounding of the group’s five-year annual growth showed that its performance outperformed that of the 364-days Treasury bill in the same period.

New innovations

Chief Executive Officer of Axis Pensions Group, Afriyie Oware, said due to the pandemic the group had changed its way of operations. “COVID-19 has disrupted the way we work and operate and the way we engage with others and so, as a business we also need to respond to the changing times,” he said.

He explained that things that were traditionally done physically had now been virtualised through digital platforms. “We are a business that takes seriously investor education. In the past, we meet customers face-to-face at their workplaces in large or small groups but now we are taking that to digital,” he said.

He noted that due to the digital-savvy nature of the group, the pandemic had not affected its relationship with customers. He said the group was rather using the opportunity to engage in financial literacy education to further help investors to manage their funds well.

“In the past, our focus was to provide our customers with the tools and information needed to better equip them for retirement but now we have introduced a new initiative to serve customers amid the outbreak of the pandemic in a better way.”

The CEO stated that the company had also set up a financial planning unit to assist customers with financial guidance on how to better manage their funds. “We are also reviewing our customer journey. We want to shift from physical engagement to digital,” he added.

Ecobank partners UNFPA, Tobinco to support Tetteh Ocloo State School for the Deaf

July 21, 2020

Ecobank, in partnership with the UNFPA and Tobinco Pharmaceuticals, provided logistical support to the Tetteh Ocloo State School for the Deaf at Ashaiman in the Greater Accra region, in a joint venture to counter the COVID-19 pandemic.

The donation was to equip the school, as their final year students returned to campus to prepare for their examinations, in the wake of the COVID-19 challenge. Together, the partners provided temperature guns, basic medications to restock the school’s infirmary, detergents, sanitizers, PPE and toiletries to enhance personal hygiene.

Speaking on behalf of the Managing Director of Ecobank, Dan Sackey, at the presentation ceremony, Dr Edward Botchway, Executive Director, Finance at Ecobank said: “Since the outbreak of the pandemic in Ghana, Ecobank has supported the nation’s COVID-19 response in numerous ways, including, providing GH¢1.3 million to the COVID-19 Private Sector Fund.

In addition, we have supported the vulnerable by actively being involved in the feeding of head porters during the partial lockdown in Accra and Kumasi, and contributed immensely, through the Ghana Association of Bankers, to support Ghana’s efforts at fighting the virus.”

He further indicated that the Ecobank Group, working through its Foundation, has been actively supporting the efforts of African governments and other stakeholders to minimize the transmission of COVID-19 across the continent. To date, the group has donated in excess of US$3 million towards mitigating the impact of the pandemic across Africa. Today’s presentation, he said, is an intervention to reduce the impact of the pandemic, whilst looking forward to furthering future support.

He, accordingly, urged the students and staff to comply strictly with the Ghana Health Service and World Health Organisation protocols on handwashing, mask-wearing and social distancing.

On her part, Dr. Claudia Donkor, Programme Analyst: Reproductive Health and Humanitarian Assistance at the UNFPA said: “UNFPA is excited to be partnering with Ecobank and Tobinco Pharmaceuticals in supporting the State School for the Deaf.

As part of its mandate to ‘leave no one behind’, including Persons with Disabilities, especially during the COVID-19 pandemic, UNFPA is delighted to be providing 300 Dignity Kits and face masks, as well as Information, Education and Communication (IEC) materials on adolescent sexual and reproductive health and obstetric fistula to the students of the school.

It is our hope that the items would be of immense benefit to the students, in addition to offering protection from COVID-19. UNFPA-Ghana remains committed to ensuring that every young person’s potential, including those with disabilities, are fulfilled.”

Group Financial Controller for the Tobinco Group of Companies, Daniel Gyapanin, speaking on behalf of the Chairman of the Group, Nana Amo Tobbin I, recounted that “Tobinco Group believes in extending an arm of support to the vulnerable in society. This belief is sustained by our conviction that such acts of benevolence can help to positively change somebody’s situation and the world at large.

The group of companies was therefore, elated to have been part of this gesture, particularly during the pandemic. The donation of the high-quality alcohol-based hand sanitizers, an essential product, is manufactured by Entrance Pharmaceuticals and Research Centre, one of the Group’s subsidiaries.” He committed to further support in future.

The headmaster of the School, Isaac Arthur, who spoke on behalf of the school’s management team thanked the companies for their generous donation. He called on individuals and corporate organisations to emulate the worthy examples of Ecobank, Tobinco and the UNFPA.

Present at the presentation ceremony were other senior officials of Ecobank, led by Rita Tsegah, Senior officials of UNFPA and Tobinco, members of the school’s management team as well as Atta Bedu, Chairman of the Parent-Teacher Association of the Tetteh Ocloo State School for the Deaf.

Sandro Bucchianeri’s thoughts…4 things SMEs need to know about COVID cyber-risks

July 21, 2020

The global COVID-19 storm has transformed the way the world conducts business and, more specifically, what can be accomplished digitally. And while we all long for the human touch and personal interaction, a post-pandemic world of greater online functioning is unfolding before our eyes. But with greater digital dependency and reward comes greater risk in the form of cyber-threats.

Major corporates have sophisticated and multi-layered internal security systems to safeguard sensitive and valuable data and to protect clients and customers. However, many small to medium enterprises (SMEs) across the continent don’t have access to, or budget for, sophisticated IT security infrastructure and highly skilled IT teams. It is also these small businesses that are mostly at risk.

They are viewed as easy targets by cybercriminals, especially during a period of prevailing uncertainty and financial decline. Here are some of the latest scams and tactics that all small business owners should be aware of:

Phishing

Phishing works by duping users into thinking that they are logging into a legitimate site (through spoofing), only to have them (unintentionally) share their private credentials or banking details with cybercriminals. Dubious links can be sent via email, SMS or WhatsApp, and can give criminals access to mail systems, servers, customer data and the like.

Employees working from home are particularly vulnerable, as they may think that instructions come directly from employers. Make sure you encourage employees to immediately flag any suspicious correspondence, and educate customers about some of the currents scams that may be out there.

Supply-chain attacks

The risk comes with third and fourth parties and so on, who are just as exposed to the rise in cyber-attacks brought on by the pandemic. Corporates deal with thousands of suppliers and vendors, all governed and managed through strict frameworks and protocols. The situation is obviously vastly different for SMEs – which need to realise that the moment a third party has access to business information, owners relinquish control.

It is like giving the keys to your house to someone you trust. It’s great if this is a reliable person, but what if that individual passes the keys on to someone else? How far does the trust extend? Make sure you have done your due diligence around external parties, including asking questions around data storage and privacy as well as cyber-risk procedures.

Human error and social engineering

The biggest problem is us – humans – and it will always be. From a Neurolinguistics Programme (NLP) perspective, humans are conditioned to react to certain prompts or signals. Even more so during a lockdown, when fear and doubt are rife. If someone calls saying that he/she is contacting you from your financial institution and begins to list and ask details such as your business’ email address and passwords, your defence goes down.

That is why we make customers aware that the bank will never ask you any of these questions; if you do receive a call like this, it is most certainly a criminal attempting to gain access to your critical information. If unsure, rather end the call and contact the bank directly (using official numbers).

Social engineering also comes into play because most people use the same passwords across multiple platforms and applications. Make sure that passwords are hard to guess (but easy to remember), change them regularly and make use of a robust password management system.

Data vulnerabilities

Ransomware (whereby access is restricted to a digital asset until a ransom, often in bitcoin, is paid) is also on the rise, with criminals taking full advantage of the current circumstances. These activities range from denying companies access to their servers, or a user to his/ her phone.

Ultimately, the most important thing is making sure your data is secure and that you have a full backup. We are fast moving to what is called a Zero Trust Model, where stringent verification will be required for any device or person (internally and externally) attempting to access company resources or networks.

Major corporates have virtual private networks (VPNs) with correct and certified configurations, two-factor authentication and a host of additional layers of security which are continuously monitored and reviewed. Most SMEs won’t be in a position to lay out significant security investments (especially now); as such, secure cloud services are an ideal and affordable option that allows data to be shared safely.

While the pandemic has exacerbated cyber exposures, criminals are constantly coming up with new online schemes. Long-term business sustainability and growth will depend on sustained risk mitigation. The first step will be to assess your business data and how effectively it is secured.

Next will be installing reputable antivirus software where possible, backing up files on a regular basis, making sure vulnerabilities are patched and updated routinely, and always carefully scanning the emails you receive. The golden rule of “if it seems too good to be true, then it usually is” still holds true.

>>>The writer is Absa’s Group Chief Security Officer

Avoiding painful customer exits (1)

July 21, 2020

“Your most unhappy customers are your greatest source of learning” ~ Bill Gates

Dear reader, welcome to a new series involving painful customer losses. The bank and customer relationship or the contract terminates by the closure of the account at the request of either party. This can be by mutual agreement, or after a customer has transferred the balance on the account. However, by law, an account can be terminated due to three reasons: Death, insanity/Lunacy or bankruptcy of the customer. In some limited circumstances, however, a bank can close an account without giving any notice, especially where warning letters have already been sent to the troublesome account holder. In summary, the determination of the banker-customer relationship can be for positive or negative reasons.

Customer Service in a Digital World- The New Paradigm

A customer service revolution is occurring in financial services. It is dynamic and being driven by consumers who are embracing digital and mobile channels as never before. The digital age is changing the way consumers research, shop and buy products and services and how they share their experiences after each purchase. Exiting a bank these days is very easy, thanks to digital banking. Now we realize that customers do not even have to bother to enter the branch and issue a big cheque to make a teller suspicious to ask the reasons. They can just gradually transfer their funds into their own account held in another bank, or through their mobile banking funds if they do not want the bank to know. Eventually, they empty their account and leave the original bank’s account with a few cedis, which gradually dries up after charges, and end up with overdrawn balances!

Why are my Customers Leaving?

Customers may leave for positive reasons – for example, they might have outgrown the size of the loans that the bank can offer and be graduating to be a bigger corporate customer in a bigger bank.
They may also leave for negative reasons, such as business failure or bad experience with the bank. Furthermore, some customers who leave may decide to return at some stage in the future. Customer exits can affect the bottom line and the success of a bank. A rising exit rate may indicate major problems for a bank and even threaten its survival.
Some may be unhappy with terms and conditions, or relations with staff.
They may be switching to competitors.
Perhaps the demand may be falling due to a change in the economic climate.

Therefore, if you do not research and address exit rates, this can have a serious effect on your bank’s financial performance. I always describe the banker-customer relationship as a financial marriage. When one party’s loyalty wanes, there is a likelihood of termination, which can sometimes be painful. Loyalty is a key requirement in the survival of the banker-customer relationship. According to Hirschman in his famous book, “Exit, Voice and Loyalty: Responses to Decline in Firms, Organisations and States” in 1970, he argued that people have two different ways of responding to disappointment. They can vote with their feet (exit) or stay put and complain (voice). A customer’s complaint behaviour is determined by Psychographic variables. These are attributes relating to the customer’s personality, values, attitudes, interests, or lifestyles.

Customer Complaints Behaviour in Banks

This can be influenced by three Psychographic Variables: Exit, Voice and Loyalty. When customers perceive a decrease in service quality, they can exit (withdraw from the relationship); or, they can voice (attempt to repair or improve the relationship through the communication of the complaint, grievance or proposal for a change). However, the interplay of loyalty can affect the cost-benefit analysis of whether to use exit or voice.

While both exit and voice can be used to measure a decline in an organization, voice is by nature more informative in that it also provides reasons for the decline. Exit alone only provides a warning sign of decline. Exit and voice combine to provide a better opportunity for feedback and criticism, exit can be reduced. The general principle, therefore, is that the greater the availability of exit, the less likely voice will be used.

Customer Loyalty Ladder is a systematic way of classifying customers of an organization into five different categories depending upon the business level engagement of customers with the organization. It takes at least 30 times as much marketing budget to attract a new customer via traditional forms of advertising to re-attract a repeat customer. Most business owners spend less than 5% of their marketing budget on their existing customers but they spend 95% of their marketing budget trying to find new customers.

Know your Customers’ Ladder of Loyalty

The error that some banks make is that they invest more in attracting new customers in the first stage, rather than keeping the already existing customer satisfied and happy. A good marketing company should invest at least 30% of their marketing budget in keeping the customers and clients happy.

The study of the customer loyalty ladder concept is to help banks to invest in developing satisfied customers. Banks should identify and analyze which customers belong to which stage of the customer loyalty ladder. The best customer is the most recent satisfied one, as well as, the best word of mouth advertising comes from the same source (the most satisfied customer).

Banks have to acquire the skills which allow them to act in a way that moves people up the ladder.

When you examine the diagram on the ladder of loyalty, you will realize that it seems a lot goes into making a prospect become a partner. Seems like a tall ladder, but in reality, it is not. There are some customers who become partners for life depending on their level of sophistication, expectation, trust and loyalty. There is a limit to what a customer can withstand or tolerate. However, with the barriers to account opening becoming so low and determined by market demand and aided by technology, the competition has become very fierce, and banks are leaving no stone unturned to stay afloat.

The COVID-19 pandemic era comes with challenges as well as opportunities. This is the best time to do a self-audit of your service. Customers going through business decline will obviously show a decline in their turnovers but without asking, there comes a communication block. This is where Relationship Managers come in. Customers rely on their emotional experiences with salespeople more than any of the traditional factors, according to research by the Peppers & Rogers Group. It showed that:

60% of all customers stop dealing with a company because of what they perceive as indifference on the part of salespeople
70% of customers leave a company because of poor service, which is usually attributed to a salesperson
80% of defecting customers describe themselves as “satisfied” or “very satisfied” just before they leave, and
Customers who feel their salespeople are exceptional are 10 to 15 times more likely to remain loyal.

Attitude and Emotion

These statistics show the important role that attitude and emotion play in determining whether customers leave or stay. It is critical for salespeople to understand customer attitudes and regularly collect feedback. The research further explained that “Most salespeople can answer the “who, what, when, where and how” of a business relationship. The missing element is “why.” Why do your customers do business with you? Is it because they feel valued, protected or informed? These “why” factors have a definitive impact on customer loyalty.”

Bank Self Audit

A bank’s self-audit will answer the question about customer exits even though it is always inevitable in the long run. No bank can retain a customer forever. Poorer customers may not be protected against crises or shocks. Richer customers may choose to leave a bank whose products and policies are not appropriate for them. However, as this worsens and remains unchecked or investigated, high levels of customer exits can seriously affect both the financial and the social performance of a bank.

Some exits are actually good riddance, while some can be painful. Next week, I will examine some basic self-audit topics that can give insights into how banks can avoid more painful customer exits. Banking is becoming a survival of the fittest but the fittest may not necessarily be from having the latest technology and clout. It comes in various ways, and mostly known by the customers!

TO BE CONTINUED…

ABOUT THE AUTHOR

Alberta Quarcoopome is a Fellow of the Institute of Bankers and CEO of ALKAN Business Consult Ltd. She is the author of two books: “The 21^st Century Bank Teller: A Strategic Partner” and “My Front Desk Experience: A Young Banker’s Story”. She uses her experience and practical case studies, training young bankers in operational risk management, sales, customer service, banking operations and fraud.

CONTACT

Website www.alkanbiz.com

Email:alberta@alkanbiz.com or [email protected]

Kwabena Adu-Kusi’s thoughts…Making Ghana a jurisdiction of choice in Africa

July 21, 2020

In his forward entitled England and Wales: The Jurisdiction of Choice,[1] The Rt Hon. Jack Straw MP, a former Secretary of State for Justice and Lord Chancellor noted that a whopping 80% of cases in UK’s specialized Commercial Courts involved a foreign claimant (plaintiff) or defendant and that, “. . . the success of the legal services sector plays an unquantifiable role in helping London to maintain its position as a major center for global commerce.”[2]. In this article, I argue that in addition to the great potential of becoming the gateway for investment into Africa, Ghana has the potential of developing as the hub for business dispute resolution in Africa. More importantly, Ghana could develop and use its legal services as part of its investment drive. I make the case that Ghana’s history, legal system, language, geographic position and reputation in Africa and the world makes this proposition achievable. I will begin with a general background and proceed to discuss how Ghana is well placed to achieve this. Dispute resolution has been used in this article to refer to all forms of dispute resolution including in particular arbitration and litigation; these two would be the focus of this article.

Background
Firstly, there is no doubt that in the recent past, significant attention of businesses has been turned towards Africa. One possible reason for this has been the record economic growth rates Africa’s economy has been recording. There is, therefore, the expectation that investments into Africa and commerce generally would increase. Within Africa, trade and investments among African states have been increasing, although at a slower rate than was expected. Intra-Africa trade is in fact expected to increase with the coming into force of the African Continental Free Trade Area (AfCFTA). AfCFTA came into force on April 2, 2019. With a single market of over 1.2 billion people, AfCFTA is the largest free trade area in the world. This expected increase in intra-Africa trade has implications for legal services in Ghana. For instance, as intra-Africa trade and investment increase and business generally become more global, demand for legal services, particularly dispute resolution services would also increase.

Secondly, Ghana has for the past few years determined to position itself as the gateway for investments into Africa. The Government of Ghana speaks of the “golden age of business” and developing the private sector as an “engine of economic growth” for the country. The development of the legal services sector has, however, not been considered as an important factor in attracting global business and investment into Ghana. However, in order for Ghana to fulfil its dream of becoming a gateway for commerce and investment into Africa, it is particularly important for the country to consider and develop its legal services sector. The legal services sector would include its legal system viz. its judiciary, laws, legal practitioners, and other services ancillary to the practice of law.

Thirdly, parties to the contract are generally free to choose the applicable law of the contract, the seat or forum for the resolution of their disputes, as well as their preferred form of dispute resolution. With the increasing popularity of arbitration as a dispute resolution mechanism, party autonomy in contractual disputes is a principle that is actively promoted in many jurisdictions. The United States (U.S.) appears, however, to be the exception. The laws of the U.S allow party autonomy to the extent that there is a “reasonable connection” to the chosen jurisdiction.[3] “That caveat reflects the traditional territoriality of U.S conflicts of law and a reluctance to permit untrammeled party autonomy.”[4] However, in order to effectively compete, particularly with London as the seat for international transaction, the State of New York (NY) for example, passed, in 1984, the NY’s General Obligations Law (G.O.L). The G.O.L allows parties to choose NY law as the governing law even if the transaction has no real connection with NY at all.[5]

Fourthly, because dispute resolution is a service and also that the parties are free to choose the forum they prefer, countries, as service providers, compete for attention particularly where the parties are conducting cross-border transactions.[6] The competition for global attention as the jurisdiction of choice is now very intense. any states have intensified their marketing efforts in that regard. For example, in direct response to the UK’s brochure tiled England and Wales: the Jurisdiction of Choice, in which the UK markets itself as the go-to jurisdiction for dispute resolution, Germany produced its own brochure called “Law-Made in Germany.”[7] Germany’s brochure also contained a preface by the then Federal Minister of Justice and Consumer Protection of Germany. The brochure was the joint effort of all professional organizations of German lawyers, judges and notaries who formed a Union called “Union for German Law.”[8]

Ghana is positioned well to provide international legal services.
Ghana is similar to the UK in many material respects; its place in Africa is similar to the UK’s place in the world in some respects. The point of the article is to show why if properly harnessed, Ghana could be the preferred forum in Africa for dispute resolution. Having regards to the limited scope of this article, an outline only of very few of the factors would be discussed. I focus among others, on Ghana’s legal system, language, the judicial system, historical prominence and geographical location. I hold the view that if Ghana is able to harness these strengths appropriately, it could help halt the export of dispute resolution to Europe and the United States and position it as a place for dispute resolution, at least for intra-Africa business disputes.

Ghana’s Legal System: Common Law

In order to secure a country as a preferred place for dispute resolution, it is not only useful to have the country designated in the agreements of the parties as the place for dispute resolution, it is also important to have the parties designate the laws of the country as the applicable law. Accordingly, one of the ways by which Ghana can become a hub for dispute resolution is when parties to the agreements designate the country’s laws as the applicable laws and also have the country as the forum for the resolution of the dispute. Contracting Parties are generally attracted to jurisdictions whose laws and legal systems are predictable and yet flexible, convenient and efficient.

Ghana’s legal system is modeled exactly on the English common law system. Common law is in fact that most pervading source of law in Ghana.[9] The fact that Ghana is a common law country is important because common law is spreading rapidly to other legal systems in Africa.[10] Some countries in Africa are changing or modifying their legal systems to lean towards common law, where Ghana has been a leader in Africa for several decades.

Most of Africa’s legal systems are a carry-over from colonialism. Accordingly, it is common to find that most of the countries colonized by the French or Portuguese would be made on the Napoleonic code (civil law) while the countries colonized by the British would be based on English common law. Few of the countries like South Africa, which were originally colonized by the Dutch and later the British have a combination of common law and civil law. South Africa’s “mixed legal system” spread to countries like Namibia, Botswana, Zimbabwe, Lesotho and Swaziland.[11]

Having considered that a Common Law legal system helps to attract investment, Rwanda, decided to switch from the civil law system, which it obtained from the Dutch to the common law system based on the legal system pertaining in Mauritius. The legal system of Mauritius itself is based on English common law.[12] There is also the example of Ethiopia which runs the civil law system. Ethiopia has recently adopted a law that makes case law binding.[13] Case law is obviously a distinguishing feature of the common law legal system.

English Language

There is no gainsaying that the English language is the primary language of commerce. The dominance of English as the key language for commerce may be the result of the UK’s past political and economic dominance in the world. Again, the meteoric rise of the United States on the global stage helped positioned the English language as the international lingua franca.[14]

The dominance of English language as the international language for commerce is evidenced by the fact that in the recent past, key non-English speaking European Union (EU) the Member States have set up “English Language Commercial Courts;” the latest being Belgium. Belgium set up the Brussels International Business Court (BIBC).[15] France, Netherlands and Germany had taken earlier steps in that regard.[16] In Africa, in order to properly position itself as a global player, Rwanda “ditched” French language and switched to the English language. The Guardian reports that Rwanda’s decision to “convert” to English was aimed at “increasing access to the global economy…”[17]

Fortunately for Ghana, it is one of the most prominent and respected English-speaking countries in Africa. The English language has been the official language of the country since the colonial era under Britain. All of its laws are not only based on the English legal system but also made in the English language. The courts in Ghana speak only English.

The fact that Ghana speaks English language therefore, should put it in a position to attract investments and also investment disputes into the country. Surely, Ghana’s reputation as one of the most respected English-speaking countries in Africa must contribute to its potential as the preferred destination for commercial disputes in Africa and the world.

Ghana’s Judicial system

Ghana has a very respected judicial system also modelled on the UK judicial system. One of the key features of the court system in Ghana is the specialist courts. The Superior Court of Justice is made up of the High Court (which is a court of the first instance), the Court of Appeal and the Supreme Court. The Court of Appeal has only appellate jurisdiction. The Supreme Court has mostly appellate jurisdiction but also has original jurisdiction in some selected case including the constitutional interpretation and presidential electoral petitions.

Importantly, the High Court has specialized divisions including the commercial court, financial court, labour and industrial court, land court, the court of general jurisdiction, criminal court and human rights court. The commercial court, in particular, is specialized and is manned by judges who have sufficient experience in handling complicated commercial cases of national or international dimension.

The Constitution of Ghana generally guarantees the independence of the judiciary and bars interference from the executive and legislative branches of government.[18] Appointments of Court of Appeal and Supreme Court judges are done by the president on the advice of the Judicial Council. Judges of the Superior courts are usually appointed from among very experienced and respected legal practitioners with several years of experience and reputation among the members of the bar and bench. All appointments are approved by the Legislative arm of government (Parliament).[19] The Judicial Council is an independent body chaired by the Chief Justice. In practice, the Judicial Council makes recommendations for appointment to the President who will seek the approval of Parliament to appoint the justices. High Court Judges are however appointed by the president on the advice of the Judicial Council.[20] The president in most cases appoints when the Judicial Council has made the recommendation. Thus, Judges in Ghana are free from governmental control and therefore decide cases in accordance with their own judgment

Even if parties choose the law of a country other than Ghana as the applicable law to their contract, Ghanaian courts can and do resolve disputes no matter the applicable law. The rules of court and evidence allow the courts to receive foreign law as a fact and decide on issues according to such law. Ghana is accordingly in a position to handle cross-border disputes.

Enforcement of Judgments in Ghana

It is self-evident that a good foreign judgment enforcement regime is necessary in any effort to promote international trade and commerce. [21] Caffrey notes:

“The businessman wants and needs predictability, the security of the transaction and the prompt efficient and certain enforcement of his claims against his debtors in foreign countries. Without this security, international trade and commerce will not only not increase, but it could also conceivably decrease to the manifest detriment of the countries who refuse to grant this most important businessman’s demand.”[22]

It is also obvious that the ability to enforce decisions of the courts of Ghana in Ghana and other parts of the world is important in influencing the choice of Ghana as the forum for dispute resolution by global parties. Ghana is a party to a number of reciprocal arrangements which permits mutual recognition and enforcement of foreign judgments.

Accordingly, enforcing foreign judgments in Ghana and enforcing Ghanaian judgments in many foreign jurisdictions is easily possible.

Ghana as a seat for international arbitration

There is a rise in the use of arbitration in international commercial disputes. Therefore, to secure its position as a preferred destination for arbitrating disputes, Ghana must show that it is an arbitration-friendly country.

In 2010, Ghana completely overhauled its 1961 Arbitration Act[23]. The Act provides a framework for arbitration disputes where the parties fail to agree on the rules governing arbitration of their dispute. It also provides a framework for the enforcement of awards in Ghana. The courts in Ghana regularly enforce arbitration agreements where Ghana is indicated as the seat of arbitration.

Ghana is one of the first of the 142 members who signed the New York Convention on the Recognition and Enforcement of Foreign Awards, 1958. This convention provides a mechanism for worldwide enforcement of arbitral awards.

In addition to that, world-class arbitration centers have been developed in the country: The Ghana Arbitration Centre based in the capital Accra and Ghana Arbitration Hub based in Kumasi the second largest city in Ghana.

What Ghana needs to do and has indeed began to do is to build a core of world-class arbitrators who would be able to attract investment dispute into Ghana.

The geographical position of Ghana

Ghana also has a comparative advantage regarding its geographical position. Although Ghana is technically considered a West African country, Ghana is at the center of the world. It is easy to access Ghana from any part of the world or Africa. Ghana sits right on the equator and the Greenwich meridian passes through it similar to what pertains in the UK. The advantage of Ghana, however, is that it does not change its time in winter and summer as pertains in the UK. Being on the true Coordinated Universal Time (UTC) makes it relatively easier to communicate and deal remotely with persons outside the country from all parts of the world at the same time. Under the present circumstance (COVID-19) where online dispute resolution (ODR) has gained popularity, being based right in the middle of the world is a very important asset in attracting dispute resolution into Ghana.

Ghana’s economy is doing well

Investments and commerce generally flow to countries with stable democracies/politics and growth potential. Ghana is respected and reputed as one of the most stable democracies in Africa. The Country’s economy has also been doing well. The World Bank had the following to say of Ghana in its 2018 country report:

In the past two decades, it has taken major strides toward democracy under a multi-party system, with its independent judiciary winning public trust. Ghana consistently ranks in the top three countries in Africa for freedom of speech and press freedom, with strong broadcast media, and radio the medium with the greatest reach. Factors such as these provide Ghana with solid social capital.[24]

In 2017, Ghana’s economy grew at a rate of 8.1%, making it the second-fastest growing economy in Africa, Ethiopia being the first.[25] The World Bank projects that over the period 2019-2022, Ghana’s economy will grow at an annual rate of 7.0%.[26] Ghana is thus one of the fastest-growing economies in the world.

As noted, a growing economy attracts investments. It is therefore expected that investment into Ghana would significantly change. As investments and trade and commerce increases, so would demand dispute resolution services.

The historical influence of Ghana

Historically, Ghana has had significant influence and reputation on the African continent and the world. Ghana is a former colony of Britain. It was the first country south of the Sahara to gain its political independence. Following its independence in 1957, Ghana came to be at the forefront of the movement for independence across Africa and the rest of the world. Ghana and its first prime minister and president also significantly influenced civil rights movements in many parts of the world including the United States of America (USA). Indeed its independence was attended by many leaders of civil rights movements across the world, including Dr. Martin Luther King, Jr.[27] Ghana had such significant influence on Dr. King and the civil rights movement that in one of his sermons after his return from Ghana, he is reported to have repeated throughout the homily that “Ghana has something to say to us.”[28]

Ghana and its first president, Dr. Kwame Nkrumah were also very influential in the setting up of the now African Union (AU). Nkrumah was of the view that “the independence of Ghana is meaningless unless it is tied to the total liberation of Africa.”[29]

Nkrumah, following the advice of the famed economist, Arthur Lewis, took the position that rapid development and modernization of industries was necessary to develop Ghana. He understood that developing and modernizing industries could not be achieved unless the workforce was “Africanized” and educated. Nkrumah, therefore, invested very heavily in educating the Ghanaian people. As a result, Ghana has in the past supplied skilled human capital to other countries of Africa; including Chief Justices, AttorneyGenerals, Prosecutors, Doctors and other civil servants. Ghana has also produced very may respected international public servants and/or diplomats including Kofi Anna, former secretary-general of the United Nations (UN).

Ghana is very much respect in Africa for its influence, resulting from its history. By that respect and influence, Ghana is uniquely placed to position itself as the go-to place for investment dispute resolution in Africa.

Conclusion

Following the coming into force of the AfCFTA, there is a call to “Africanize” Africa’s commercial dispute mechanisms. There is also agitation for Africa to halt its export of dispute resolution to the developed nations. In the meantime, it is expected that trade and investments within Africa are likely to increase by virtue of AfCFTA and with it the increase in demand for dispute resolution centers and services. Ghana is in a good position to avail itself as the jurisdiction of choice in Africa. This is because it has language, location, a good judicial system and a good dispute resolution structure in place. To take hold of these advantages however, Ghana must strategically develop and market its legal services to the world.

The writer is the Managing Partner, Adu-Kusi, PRUC

[1]Published in October 2007. Available at https://www.eversheds-

sutherland.com/documents/LawSocietyEnglandAndWalesJurisdictionOfChoice.pdf

[2] id, at p5

[3] UCC Section 1-105

[4] Governing Law in Sovereign Debt Lessons from the Greek Crises and Argentina Dispute of 2012, New York City Bar Association, Committee on Foreign & Comparative Law, February, 2013.

[5] Id, P. 5

[6] Hein Kotz, Jurisdiction of Choice: England and Wales or Germany, The, 18 Eur. Rev. Private L. 1243 (2010)

[7] https://www.lawmadeingermany.de/Law-Made_in_Germany_EN.pdf

[8] Hein Kotz, supra

[9] Article 11 of the Constitution of Ghana defines laws of Ghana to include common law

[10] https://www.hoganlovells.com/~/media/hogan-lovells/pdf/publication/informationsheetafricanbusinesslawgrowth_pdf.pdf

[11] Id

[12] id

[13] Gebeyehu, Nadew Zerihun, How Does the Case Law System Fit into the Ethiopian Legal System? (May 9, 2015). Available at SSRN: https://ssrn.com/abstract=2604475 or http://dx.doi.org/10.2139/ssrn.2604475

[14] Jonathan Smith, English the tool for legal dominance, The law society Gazette, October 30, 2017. Available at: https://www.lawgazette.co.uk/commentary-and-opinion/english-the-tool-for-legal-dominance/5063463.article

[15] id

[16] id

[17] Why Rwanda said adieu to French, The Guardian. Available at https://www.theguardian.com/education/2009/jan/16/rwanda-english-genocide

[18] Article 127, 1992 Constitution of the Republic of Ghana.

[19] Article 144(2)

[20] Article 144 (3)

[21] Richard Frimpong Oppong, RECOGNITION AND ENFORCEMENT OF FOREIGN JUDGMENTS IN GHANA: A SECOND LOOK AT A COLONIAL INHERITANCE, available at https://core.ac.uk/download/pdf/68887.pdf

[22] Caffrey, BA, ‘International Jurisdiction and the Recognition and Enforcement of Foreign Judgment in the LAWASIA Region: A Comparative Survey of the Laws of Eleven ASEAN Countries Inter-se and with the EEC Countries’ 6, 1985, Sydney: CCH Australia Limited.

[23] Alternative Dispute Resolution Act 2010, Act 798

[24] https://www.worldbank.org/en/country/ghana/overview

[25] Id

[26] Id

[27] King Reportedly Off for Africa Gold Coast, MONTGOMERY ADVERTISER, Feb. 27, 1957, at A2

[28] The Birth of a New Nation, in 4 King Papers, at 155 (referred to in, H. Timothy Lovelace, Jr., Martin, Ghana, and Global Legal Studies, Indiana Journal of Global Legal Studies,Vol. 25, No. 2 (2018), pp. 623-637)

[29] Kwame Nkrumah, Independence day Speech, Accra, Ghana, March 6, 1956

J. N. Halm’s thoughts … Missionaries or Mercenaries? Getting it right at the front

July 21, 2020

They were both medical practitioners. They both stood up against the establishments of the time—one, against the unjust enslavement of millions of able-bodied men and women of a continent; the other, against what he saw as the capitalist exploitation of an entire continent. They were both passionate about their causes. They are both idolised by the people they sought to serve. It can be argued that both of these men succeeded in their respective causes. There are statues and monuments built in honour of these two men both in the areas they most impacted as well as in areas far away.

However, these two men could not be any different. In spite of all their similarities, it is rare to find the names of these two men on the same list. This is because one is globally recognised as a missionary while the other is deemed a mercenary—although there are many others who would prefer “freedom fighter.” The missionary, David Livingstone, left the comfort of his life in Scotland to come to travel the length and breadth of Africa because he believed it was a good cause. The revolutionary, Ernesto ‘Che’ Guevara, put behind his middle-class upbringing in Argentina to travel throughout South and Central America joining several causes that sought to liberate the poor and marginalised.

Howard Love, in his book The J Start UpCurve, implies that there are two kinds of people when it comes to starting a business. There are either Missionaries or Mercenaries. According to Love, mercenaries do what they do for money. Missionaries do what they do for love. Mercenaries and missionaries can both be very successful in business. However, their reasons for starting the business can have serious effects on the future and growth of the business.

Missionaries are all about the mission of the business and how the business will change the world. The level of commitment of the missionary to the cause is never up for discussion. The missionary goes the extra mile to ensure that the business succeeds. Love asserts that missionaries would mostly tend to focus on products or services that have a perceived social utility. He cited Steve Jobs as the classic missionary, who started Apple with a mission to change the world.

Reading through Howard’s piece, it occurred to me that his delineation of these two categories goes beyond those who start their own businesses. This categorization works just as well with regards to other people in the business, especially the individuals that man the front lines for businesses. Front line here refers to those at the reception or shop floor who welcome visitors, those in the sales and marketing departments who interface with customers on a regular as well as those on the telephone talking to customers regularly. In my experience, individuals who are placed at the front line at any one point or another are either going to be missionaries or mercenaries.

The first point of difference between missionaries and mercenaries is that the former love their work. Missionaries have a genuine love for what they do and that is what keeps them going. Mercenaries are all about what they expect to get. It could be money or some other form of remuneration but the bottom line is that for the mercenary, it is all about what he or she is getting. Howard Love states that missionaries work for “meaning over money”.

Another point of departure between the two types of front line employees is that for the mercenary it is all about personal concerns. The mercenary is concerned about what he or she will get at the end of the day. The mercenary looks out for himself or herself first and foremost before thinking of anybody else. The missionary thinks more in terms of the organisation. Missionaries want to ensure that the organisation succeeds—knowing that the success of the organization leads to success for employees.

Missionary front line staff see the bigger picture. Mercenaries are only concerned about today—and what the customer brings to the table today. Missionaries understand the concept of the Customer Lifetime Value (CLV). They know that it does not matter the size of the purchase today. They realise that if they are to treat the customer well that customer’s value over the lifetime of the one’s relationship with the business could be very substantial. Missionaries at the front line treat customers as people not mere account numbers or mere statistics. They know that the individual in front of them is a human being, with his or her own aspirations and challenges.

If there is one thing missionaries are known for it must be their willingness to go the extra mile. Missionaries of old will leave the comfort of their homes and security of their surroundings and travel to unknown lands for the sole purpose of taking a message. Missionaries at the front desk are those who ready to go the extra mile for customers. They are those individuals who see the customer as being critical to the survival and success of the business. Therefore, they will do anything in their power to ensure that the customer gets the best service available.

According to Love, missionaries tend to recruit other missionaries who commit to their cause. This is true not only for entrepreneurs. In my experience, missionaries at the front desk also tend to gather others of like mind and attitude around themselves. Because they want the company to succeed, they tend to like others with the same mindset and will naturally gravitate towards such people. It is not uncommon to see employees divided along factions based on such commonalities.

It is important to note that customer-facing missionaries can be quite difficult to work with. They take their work so seriously that colleagues who do not match up can become a bother or a burden to the missionary. In the same vein, colleagues may also view the missionary as a pain in the neck. Missionaries are those who behave as if the work belongs to them—and by so doing tend to make enemies for themselves inside the office. Wanting the organisation to succeed, missionaries would not hesitate to report any behaviour that they deem detrimental to the success of the organisation.

While having missionaries at the front desk tends to be very beneficial to an organization, it is also true that missionaries have a higher burnout rate than mercenaries. Their love for the work means that they put in a lot, both physically and mentally. If their enthusiasm is not curbed, it can have deleterious effects on their mental and physical health. Mercenaries, on the other hand, do not tend to suffer these effects. Because they will not give more than is expected of them, mercenaries do not tend to drain their energies easily.

The ongoing discussion in no way means that mercenaries cannot be good front desk staff. Some of the finest front line employees I have come across also turned out to be hard-core mercenaries. If by serving customers well, the mercenary’s self-seeking objectives are met, then by any means the one will do a good job at the front line. A mercenary at the front line will fake his or behaviour to meet expectations of customers and the organisation. However, the problem is that fake behaviour can be spotted from a mile off. Customers know when a mercenary is not being sincere with his or her actions—and customers resent that.

Mercenaries can exist in an organisation for a long time without any issue. However, their true nature comes to the fore when they become offended. Mercenaries turn on their full destructive mode when they feel wronged by something. They will “punish” everybody just to feel even. They are the individuals who do not mind carrying out their negative behaviours even before customers. Aggrieved mercenaries will see nothing wrong with badmouthing their organisation to customers. There are even stories of front line staff sending customers to the competition just to get even with their employers.

HR managers must also ensure that in filling up front office jobs, missionaries are given the customer-facing jobs. During interviews, questions must be asked that cause the interviewee to reveal what their predominant character is. I have served on many interview panels and so I know that on far too many occasions, the emphasis tends to fall on the candidate’s academic qualification and less on the one’s attitudinal qualifications. Unfortunately, by the time the real characters of these individuals begin to come to the fore, it is too late. Customer relations might have soured to irredeemable depths.

Just as Howard Love said, there are no pure mercenaries or missionaries. We all tend to have a bit of both tendencies running through our veins. Certain situations can bring out the mercenary or missionary in us. It is the one that is allowed to become dominant that turns one into a mercenary or a missionary. Front line employees must know how to manage these tendencies so that at every point in time, they are more of missionaries than mercenaries.

Gilles Ametepe’s thoughts…Entrepreneurship beyond COVID-19 – Why we need the Ghana Startup Network

July 20, 2020

Data made available by the International Monetary Fund show that COVID-19 will cripple the global economy and growth will decline by 3 percent.

Other bodies such as US-based CB Insights is also projecting global startup financing will take a hit, with private market funding in the first quarter of 2020 hovering around US$77billion – down by more than 16 percent compared to the last quarter of 2019, and by nearly 12 percent compared to the first quarter of 2019.

This could strongly affect financial support for startup ventures across the world, with Ghana being no exception. In the period of COVID-19, businesses, especially startups, are hoping for support packages from various government interventions in the form of the stimulus package. Despite the roll-out of such supports, one key economic group that has been sidelined is startups.

However, countries which stand out as clearly defining a support structure for their startups have one thing in common – a recognised national representative body for startups. France, one of the leading world economies, set itself aside in that regard.

French startups have been allocated €4billion out of an overall package of €300billion that the government is mobilising to cushion the French economy. The support covers a refinancing scheme, payment of tax-credits and the payment of already-planned investments in the ecosystem.

This decision has been applauded across the global startup community as the best any government has taken so far in the interest of startups. The gesture also clearly falls within the scope of the government’s agenda to make France the leading startup-nation in the world.

This is made possible because of the work of organisations such as France Digitale and La French Tech, which represent the French startup ecosystem in its diversity and giving it a voice in policy and decision-making. That is exactly what we realised is missing in Ghana – the voice of startups.

This crisis offers us the opportunity to rethink the environment we want Ghanaian startups to thrive in, and restructure our startup ecosystem.

With an ecosystem fairly younger than that of our fellows in Nigeria, Egypt, South Africa or Kenya, the way forward for us is simple – unity: bringing together all startups in Ghana and Ghanaian-founded startups abroad under one umbrella.

This will be in the form of an organisation that rallies startups; helps policy and decision-makers understand and support the ecosystem; create a more structured collaborative platform for stakeholders and channel all these efforts into positioning Ghana as the leading startup ecosystem in Africa.

Having such an organisation is not only for times of crisis such as COVID-19 but most importantly for times of growth when there is need for a catalysing force that can lead the charge to make Ghana the Black Star of the African startup ecosystem.

A well-thought-through national representative body would be able to unify the ecosystem, build much-needed partnerships with government agencies and development partners, influence policy, lead on attracting foreign direct venture capital investments, and empower our startups to conquer the world.

We will then have an organisation mandated to address some of the challenges we are faced with – ranging from misrepresentation of startups, lack of data on the ecosystem, policy mismatch and absence of a unifying identity among others.

It is in government’s, partners’ and startups’ interest to have an organisation representative of our ecosystem to speak on its behalf. This will make it easier for government to be fed with accurate data and know-how, and where to take the pulse of our ecosystem, receive input and feedback on policies, enhance implementation and have a direct conversation with stakeholders.

Startups, through a national representative body, can help government rebrand Ghana from a history/culture tourist destination to the prime investment and business destination hub in Africa.

For an economy which, according to government, will suffer a decline in growth from a projected 6.8 percent to 2.6 percent of GDP, this is the right time to strengthen an ecosystem that can offer a viable alternative to the informal sector – which has been the economy’s backbone for decades. An empowered startup ecosystem will lead the digital and innovation drive and propel our economy into the fourth industrial revolution.

We can all agree an organisation that can go beyond a simple representative role and marshal the entire ecosystem hand-in-hand with the hubs, training and educational organisations, venture capital and angel investment community and other support organisations is what we need right now.

From Berlin to Beijing, the relevance of organisations with similar objectives have proven that it is crucial for us to give a voice and an identity to our ecosystem which goes beyond startup meet-ups and entrepreneurship competitions.

Many countries boast such organisations: Startup Canada (Canada), France Digitale (France), Startups.be (Belgium), Engine (USA), Bridge Budapest (Hungary), BESCO (Bulgaria), Upgraded (Finland), Startup Brazil (Brazil) and Coadec (United Kingdom) among others.

These organisations have made tremendous contributions to branding their local ecosystem, supporting with research-backed policy advocacy, advising decision-makers, fostering ground-breaking partnerships, bridging the gap between the (big) corporate and startup communities, and providing insight into new global trends.

These are clear ways to grow industries, fast-track knowledge-sharing, create an ecosystem identity and propel an entire economy into the future.

It is one thing for government agencies and development partners to randomly support individual startups and hubs, and another to have at the table an organisation that aims at not only empowering the same startups but also supporting all stakeholders to have a better understanding of the ecosystem, have a clearer view of the role those startups can play in positioning our local economy for what is coming, and ready our country for the Fourth Industrial Revolution.

Startup founders in Ghana have one thing in common; we don’t know how to get our voices heard. Not only because we do not have someone to speak for us, but also because our needs are as many as they are diverse. For this reason, we need a melting-pot; one in which we ‘cook’ it all and serve it right.

Having the opportunity to be part of a national startup network will not only give us a voice, but it will also make it sound right and louder and complement governments agenda of industrialisation. It will furnish us with the opportunity to let our countrymen and the world see that our interest is beyond ‘making money’, and rather changing our story, creating change and strengthening the lifelines of our economy.

A Ghana Startup Network will empower us to create more, change more and grow more – because it will give us an identity and put a name on thousands of faces, logos and digital addresses that we are across the nation and beyond.

We know this is the right time for us to come together. Even if it is quite unfortunate that decisions taken by the government with onset of the COVID-19 crisis have not specifically been tailored to meet our needs, it is not too late for us to prevent our lack of unity from swallowing up our voice. What is coming beyond this crisis is way beyond individualism, it is beyond ‘me-ism’ – and the best way to ready ourselves for it is to come together.

Our ecosystem needs a melting-pot.

Ghana needs its Startup Network.

Let’s make that happen.

>>>the writer is a PR and Institutional Growth Strategist, an Ecosystem builder and an Entrepreneur. He is the co-founder of the Ghana Startup Network where he leads the policy and institutional relations team

Editorial: Deal with ‘dubious’ owners of collapsed nonbank institutions

July 20, 2020

Official Receiver and Liquidator of the collapsed nonbank financial institutions, Eric Nana Nipah indicated that investigations revealed owners of some of the Collapsed financial institutions used monies deposited in their firms to purchase homes in foreign countries.

This makes a good case for prosecution of some of the owners of the collapsed financial institutions since they wanted to profit illegally from depositors’ funds. It is unconscionable to perceive that the owners fraudulently used depositors’ monies to purchase homes in foreign countries.

The Receiver indicated that his outfit has been working with the Economic and Organized Crime Office, EOCO, on potential recoveries and prosecutions for close to a year now. Nipa made the point that prosecutions will also commence next month (August), since the government is not only interested in recovering assets and paying depositors.

Our opinion is that if such properties can be identified, then EOCO should move in to acquire those properties, auction them and use the money to defray the cost to depositors who are persistently inquiring about their locked-up monies.

Investigations also proved that instead of investing the monies given to them, they diverted it into their personal accounts. Nipa is confident that they have clear and solid evidence to begin prosecutions and that will do well to complete the financial sector clean-up.

The clean-up had the dual aim of protecting depositors’ funds and instilling confidence in the Ghanaian banking sector. While insisting on the prosecution of some of the owners for their indiscretion, we also hope that lessons have been learnt from the whole episode, particularly from the perspective of the supervising entity-the central bank.

Many are of the view that they slept on the job while all these occurrences were happening right before their very eyes. Some of the officers at post cannot escape blame since the presided over the rot that was unearthed during the cleanup.

The sad aspect is that many innocent workers of these financial institutions had to lose their jobs with the revocation of their licenses. Justice has to be served.

Editorial: Economy expected to slide for 2-3 years before rebounding

July 20, 2020

Finance Minister, Ken Ofori-Atta is expected to present the government’s mid-term budget review to Parliament on Thursday, while speculation is rife about the negative economic impact of the novel coronavirus on government projects and programmes.

Mr. Ofori-Atta was engaged by a section of the media on his expectations and we must admit he gave a very candid view of the way forward. He was forthright enough to admit that the economy would suffer a downward slide for about two to three years before picking up.

This, we believe, should manage the aspirations of Ghanaians as we battle to contain the virus and not build our hopes up too high, only to be thrown into a veritable reality check. The government will do its best to ameliorate the economic situation and the Finance Minister hinted that a stimulus package for large scale businesses in the country will be announced soon.

The package is expected to help these businesses that have been hit by the pandemic to turn around their fortunes. In a recent interview with Bloomberg, Ken Ofori-Atta explained Ghana’s fiscal gap is forecasted to widen beyond 10% of Gross Domestic Product (GDP) from an adjusted outlook in March of 7.8%.

Earlier, Mr Ofori-Atta on March 30, 2020, before Parliament disclosed Ghana’s economy will lose some GH¢9.5 billion as a result of the coronavirus outbreak. This will represent 2.5 percent of Ghana’s revised GDP.

However, a good note to take from the interview was his conviction that the government will not engage in reckless spending and create problems for itself ahead of the elections. “At least from the Ministry of Finance, I can assure you that the presidency will ensure that the resources that we have are used judiciously”, he added.

Government projections for the 2020 financial year have largely been affected by the economic implications of the Coronavirus pandemic.

The Minister expected to provide to Parliament a clear plan on how the government intends to pay back GHS10 billion it borrowed from the Bank of Ghana (BoG) and the 219 million dollars transferred from the Stabilization Fund to the Contingency fund to help deal with the impact of the COVID-19 pandemic.

COVID-19’s negative economic impact is a global phenomenon and it is up to the resilience of countries’ economy that will make the difference. Ofori-Atta has expressed the hope that the government’s solid track record prior to the advent of the virus will ensure the buoyancy of the economy.

Tertiary institutions not certain on admissions for 2020 academic year

July 20, 2020

There is growing uncertainty surrounding tertiary institutions on the admission of freshmen and women for the 2020 academic calendar, following the outbreak of COVID-19 that has led to a shutdown of schools in the country.

Also, due to rapid spread of the virus in the country, most institutions are scared of high infection on their campuses – hence their inability to decide whether to admit students for the 2020 academic year or postpone the academic year to 2021.

The councils and boards of the various tertiary institutions including universities, teachers and nurses training colleges, as well technical universities are still not certain if they are to allow management of the schools to admit qualified freshmen and women to pursue their various courses for this academic year.

Though tertiary institutions were supposed to have closed application by now and commenced admissions, almost all institutions contacted by the B&FT are still selling forms and hoping to start admission by September – if only by then the pandemic has reduced and the government gives the directive for reopening schools.

While some lecturers and staff of the various schools are of the view that by September admissions can take place, others are also not certain about this due to the inability of councils and boards to meet and communicate with them. Information gathered indicates that most of the schools are still not prepared for virtual academic work, hence their inability to decide when to admit and how many students to admit in this period of COVID-19.

More so, some tertiary institutions visited in the Tamale Metropolis and the Sagnerigu Municipality of the Northern Region – like the Tamale Technical University, University for Development Studies, Tamale Nurses and Midwifery Training College and Bagabaga College of Education – showed that their Information and Communications Technology (ICT) laboratories are under-resourced to enable lecturers to engage in online teaching.

Some management of the schools said efforts are being made to adapt to online learning, since the pandemic seems to have come to stay, to ensure students stay at home and thus study online.

Some lecturers said lecturing with the online learning system has been met with several challenges owing to constant network failures, the inability of some students to access data to participate; while others also did not have the money to purchase smartphones to enable them to participate in academic work.

Furthermore, academic work for Persons with Disability are said to have come to a halt, due to lack of alternative measures for them – though some regular students are studying online. Some students who have applied to some tertiary institutions and are waiting for their admission are also sceptical about their chances of going to school this year because no information has been communicated to them by the school authorities or Ghana Education Service (GES).

Some staff of the schools who spoke anonymously also told B&FT that the inability of schools to admit students this year will go a long way to affect them in revenue mobilisation for academic work as well as developmental projects. “This is because we generate revenue from the fees paid to run the institutions, especially for the distance programmes being pursued,” one of them said.

Public Relations Officer of the Tamale Technical University, Alhaji Aziz Mohammed, in an interview with the B&FT, said management has not communicated to staff – hence their inability to know whether admission might be down this year, though the university has still not closed its application-window.

He expressed hope that management and the council will discuss the issue of when to commence admission and start academic work, adding that: “For the reopening of schools, management of the various schools are waiting for government’s directive.” He, therefore, advised the current students at home to study hard and not treat the pandemic period as a holiday, because “time wasted cannot be regained”.

Public Relations Officer for the University for Development Studies, Sauda Berko, also told B&FT that the university’s council is yet to announce to management any decision taken and whether admission is expected to commence in September, which will depend on the situation by then. She stressed that any decision taken will be communicated to its current students and the applicants.

Touching on the possibility of online academic work, she said some departments have been engaging their students online while others have given their students lecture-notes to study while at home.

GIP volume up by 600% in first-half of the year

July 20, 2020

Mr. Archie Hesse: GhQR and GhIPSS CEO pick laurels at GITTA — Mr. Archie Hesse

The growth in the use of GhIPSS Instant Pay (GIP) has witnessed another jump – going up by almost 600% in the first-half of this year compared to the same period last year.

According to the Ghana Interbank Payment and Settlement Systems (GhIPSS) Half Year Performance report, the volume of GIP transactions stood at 350,666 in the first half of 2019 and shot up to 2.45 million by June this year.

GIP is an electronic payment system that enables a customer to transfer money from one bank account to another of a different bank or to a wallet, and the transfer is effected instantly.

Though instant pay can be accessed from the banking halls, it is mostly available on the various Internet and mobile banking platforms of banks. Many Fintechs also ride on the GIP technology for their money transfer services.

The Chief Executive of GhIPSS, Mr. Archie Hesse, in an interview said the persistent growth in GIP transactions is largely because it has come to address a pertinent need. He explained that GIP has enabled people to make and receive payments instantly, without the need to move to a banking hall.

Many experts have argued that the service GIP provides could significantly encourage many people to keep their funds with the banks since they have quick access to them. There is still a very significant number of people who are outside the banking sector. However, GIP and Mobile Money Interoperability are considered two very important payment interventions which will significantly rope more people into the banking sector.

The GhIPSS boss said public education on GIP will continue to ensure that more and more people become aware of the service and demand it, so as to make payments more convenient and efficient. He is hopeful that GIP will continue to record growth in patronage as more people turn to electronic forms of payments.

With increasing advocacy for electronic payment options due to the coronavirus pandemic, it is anticipated that GIP will continue to enjoy high usage.

PIAC urges timely disbursement of oil revenues for projects

July 20, 2020

The Public Interest and Accountability Committee (PIAC) has urged the government to disburse oil revenues earmarked for projects, rather than accumulating it over time.

According to the Committee, which has oversight responsibility for the prudent management of the country’s petroleum revenue, there are oil-funded projects that face funding challenges and it would be prudent to disburse the funds instead of accumulating them.

The Chairman of PIAC, Noble Wadzah, made these recommendations after leading a delegation to inspect the construction of the Anomabo Fisheries College in the Central Region. The project received petroleum revenues through the Annual Budget Funding Amount (ABFA) between 2012 and 2019.

In its 2019 Annual Report, PIAC noted that the ABFA available for spending in 2019 was GH¢2.7billion – out of which GH¢1.2billion was utilised, leaving a balance of GH¢1.5 billion to be utilised and accounted for. For the third consecutive year, the actual ABFA was not fully utilised or accounted for.

“It is worrying to learn that the project suffered from an irregular flow of funds. The period of our reporting indicates that there were unutilised petroleum revenues. If there are projects like this that have a track record of benefitting from oil revenue and still face funding challenges while there is evidence of accumulated revenue, it is problematic and needs to be addressed,” he said.

He said PIAC continues to advocate for the use of petroleum revenues on legacy projects and projects such as the construction of the Anomabo Fisheries College, which is clearly a legacy project and should not be stifled of funds. “Stifling the project of monies when petroleum revenues allocated through the ABFA portions are still not utilised is contradictory, and the Ministry of Finance must ensure that it is utilised,” he said.

He, however, expressed satisfaction with work done on the project, adding that: “We have gone round and the work done is impressive, but it would have been better if funds were made available consistently”.

Financial hurdle

Deputy Director, Finance and Administration at the Ministry of Fisheries and Aquaculture Development, Enock Boadu Amo, said financing for the project has been a challenge, and currently, the ministry is relying on Internally Generated Funds (IGF) to get the project running.

“The project started in 2012, but financing has been a challenge. In 2020, the ABFA funds did not come forth for the project so we are currently funding with IGF; but we hope that we can overcome this challenge and get the project running,” he said.

Mr. Amo said the project is currently at a 90 percent completion stage, and the road leading to the College is also under construction. He said, when completed, the college will train people in the art and skills of fishing with certification up to the Masters level.

He said the project’s first phase is expected to be complete for the 2020/2021 academic year, and he is optimistic that by 2022 the second and third phases would have been completed with additional facilities.

The Project

The construction project received an amount of GH¢11.5million from the Annual Budget Funding Amount (ABFA) between 2012 and 2019. Although the project was initially scheduled to be completed within 18 months, it has dragged and contractors at the site are now estimating a completion time later this year.

The PIAC-led team was conducted round the facility which consists of an administration block, hostel facility, a laboratory and a classroom block. Work on the four different blocks has progressed steadily and is at different levels of completion despite the financial hurdles encountered earlier.

The Clerk of Work Site, Akuffo & Associates, JBK Otoo told the team that work is progressing smoothly; and although they might not meet the August 2020 timeline of completion, the work will be completed before the end of the year. “The project is going on smoothly. Some of the contractors were crying for money, but now they have got something and are speeding up the work. It is left with the finishing, and if the money keeps coming they will finish it soon,” he said.

Labour Office pushes employers to report redundancy numbers

July 20, 2020

Chief Labour Officer, Eugene Narh Korletey

The Chief Labour Officer at the Ministry of Employment and Labour Relations, Eugene Narh Korletey, has entreated all business to consistently inform the Labour Office about all lay-offs, as it is an offence not to do so under the nation’s labour law.

The move is one of the means through which government is able to keep abreast with the unemployed numbers – then analyse the dynamics of the numbers and fashion policies to address it.

When the B&FT contacted the Chief Labour Officer on data of the number of people who had lost their jobs during the COVID-19 period, Mr. Korletey said: “We are working on getting the numbers. We will be finishing soon and they will be available. You can write a letter requesting them, and immediately they are ready they will be furnished to you”.

When asked how efficient the process has been so far, he said the Labour Office is doing its best to get the numbers for policy decisions; noting that it is the duty of every employer to submit redundancy numbers to the office, and it is an offence if any lay-offs are not reported to his office.

But the process needs to be facilitated with the submission of questionnaires for the companies to fill out, and it is however not clear if the Labour Office has the capability to send questionnaires soliciting redundancy information to all businesses.

Per the law, when an employer contemplates the introduction of major change in production, programme, organisation, structure or technology of an undertaking that is likely to entail termination of employment for workers in the undertaking, that employer is mandated under Act 651 to submit in writing to the Chief Labour Officer all relevant information – including the reasons for any termination, the number and categories of workers likely to be affected, and the period within which any termination is to be carried out.

Also, the employer is to consult the trade union concerned on measures to be taken to avert or minimise the termination, as well as measures to mitigate the adverse effects of any terminations on the workers concerned – such as finding alternative employment.

Minister of Finance Ken Ofori-Atta in an interview recently disclosed that government is planning to provide some monetary assistance to persons who have lost their jobs due to challenges induced by the Coronavirus pandemic in the mid-year budget review on Thursday. That move can only be realised with reliable data produced by the Chief Labour Officer.

But Labour Consultant Austin Gamey doubts the ability of the country’s Labour Office to produce data that will be near to accurate.

Speaking to the B&FT in an interview, Mr. Gamey said the spirit behind the law that entreats employers to submit redundancy data is to enable government fashion-out support schemes for persons who are laid off till they are gainfully employed.

Even though such a move might be difficult to practicalise in Ghana today, he noted that the massive lay-offs due to the struggles business are facing with the outbreak of Coronavirus offers a great opportunity for some sound policies to take care of the unemployed; but the under-resourcing of the Labour Department over the years will affect its capacity to generate accurate data for policy formulation.

“The Chief Labour Officer or an officer authorised by the Chief Labour Officer shall submit to every employer a questionnaire relating to the employment of workers by the employer with the respective centres.

“The employer shall complete and return the questionnaire to the Chief Labour Officer or authorised officer within 14 days after the expiration of every three months. When the employer fails, it will be sanctioned. So, in effect, we should have accurate data – not just data but accurate data on employment and unemployment in Ghana without any shadow of doubt.”

COVID-19 likely to erode local content gains in oil and gas

July 20, 2020

…as 450 local workers face job losses

The country’s bid to ensure that locals play a key role in the oil and gas industry is set to face major setbacks due to disruption caused by the Coronavirus pandemic and the collapse in oil prices.

The industry, over the past six years, has made steady progress in pushing for more local content in the sourcing of goods, services and labour, as new oil and gas investments came on line; however, the COVID-19 crisis has led most exploration and production firms to cancel contracts with local businesses.

For instance, the pandemic coupled with current low oil prices has resulted in the cancellation of about 98 contracts worth over US$389million awarded by Aker Energy, AGM, Eni and GOSCO, in what is seen as a blow to local content development in an industry heavily dependent on foreign expertise and raw materials.

The sector’s regulator, the Petroleum Commission, had also hoped to localise 40 roles in the industry this year, per its localisation plans; but this too has been put off by the crisis.

“The industry has chalked modest success in localising various positions, including critical positions in major companies. Per the various localisation plans, the Commission expected about 40 roles to be localised this year,” the Commission’s Chief Executive Officer, Egbert Faibille Junior said, stressing that the impact of COVID-19 will have serious ramifications on local content development in the country.

The consequential effect of cancelling contracts in the industry, the Commission said, “resulted in layoffs of both expatriate and local personnel”

In all, the sector’s regulator estimates that over 450 Ghanaian workers in Aker Energy, Tullow, Schlumberger, Halliburton, Baker Hughes will lose their jobs as a result of the pandemic.

“Similarly, contracts previously awarded by Eni and Tullow were due for renewal, and tendering processes in respect of such contracts had begun. The cancellation of these contracts – such as the five-year Maersk Drilling contract that was terminated in June 2020 together with associated services – will have a devastating toll on local businesses,” Mr. Faibille Junior added during a webinar organised by the Africa Centre for Energy Policy.

On the way forward for local content development, he advocated the need to create a new era in local content practice in the age of COVID-19. “Even in the throes of what is perhaps the most severe economic shock in a century, there is little doubt that the crisis will bequeath a ‘new world order’ when it comes to supply chain management in the oil and gas industry.

“For us – the regulators, policymakers, corporate leaders, and supply chain managers – the key will be to ensure that we neither over-react nor return to the status quo: the status quo of traditional global sourcing from a few established companies located either in Houston, Aberdeen, Singapore or Stavanger. Getting that balance right will be the difference between winning and losing the war against COVID-19 for many countries and companies.”

Additionally, he believes that COVID-19 is challenging international oil companies’ model for sourcing goods and labour in global supply chains, and the pandemic presents a unique situation which the country must exploit. “We as industry players must now start to frame out new approaches to oil and gas supply chain management which acknowledge the risks associated with new global economic threats such as COVID-19 – and other pandemics yet to be born.”

Gov’t to initiate steps to protect investments E&P companies

As part of efforts to help Exploration and Production (E&P) companies cut down their losses, Mr. Faibille Junior revealed that government is willing to look at the impacts of COVID-19 on operations of E&P companies and come out with initiatives to protect their investments.

He further noted that steps are being taken to “strengthen safety policies and measures in companies to ensure safe and secure environments for workers. The Commission has instituted a weekly health, safety and environment briefing by the operators on the pandemic’s status and safety issues in operations.”

Mid-year budget: Be transparent with data on deficit figures – Terkper

July 20, 2020

Former Finance Minister Seth Terkper has demanded that the government presents accurate and transparent data about the economy’s true situation – especially with respect to the deficit figures as it prepares to present the mid-year budget this week.

His comments come on the back of concerns raised by the minority in parliament, that government has been presenting the true state of the economy to the international community but presents a different set of data that white-washes the economy’s situation to Ghanaians.

And again, with the coming of coronavirus which has thrown all budgets of governments around the world off-gear, Mr. Terkper says it is important that any exceptional expenditure made in reference to the pandemic be disclosed to the people for proper accountability.

“We have been pointing out in the past that the deficit figures which government was giving us was actually far lower. So, I am saying it would be good for the government to come and explain why its figures are different from what it gives the IMF.

“There are adjustments which the IMF and other institutions have made that clarify our numbers. So if we are going to incur more exceptional expenditure, whereby the debt is going to be higher than the deficit that we are disclosing, let’s not show it in the footnote or appendix; let us disclose it. Nobody is saying that we shouldn’t incur additional expenditure. What we are saying is that once that expenditure is made, it must be shown,” he said at a press conference in Accra last Friday.

Finance Minister, Ken Ofori-Atta, indicated in April that the estimated fiscal impact from the shortfall in petroleum receipts, shortfall of import duties, the shortfall in other tax revenues, the cost of the preparedness plan and cost of the Coronavirus Alleviation Programme is GH¢9.5billion, representing 2.5 percent of revised GDP.

However, the former Finance Minister said the government must also come clean on what the extra funds accrued from monies borrowed in the name of the pandemic have been or will be used for – as the borrowed funds have now exceeded the amount needed to close the fiscal gap created by the impact of the pandemic.

“The figure that was disclosed to parliament was GH¢9.5billion. And I am saying if you take the US$1billion from the IMF at an exchange rate of GH¢5.5, that is GH¢5.5billion. If you take the Stabilisation Fund of US$250million and you add the World Bank’s loan and other revenues that have come in for COVID, they amount to more than GH¢10billion. So, the cost has been covered for COVID-19; and so we should know where the additional borrowing is going to,” he said.

Besides the loans from the IMF and World Bank, the government has established a COVID-19 Fund to receive contributions and donations from the public to support the Coronavirus Alleviation Programme, and to assist in the welfare of needy and the vulnerable citizens.

It has also realigned the Statutory Funds toward expenditures that tend to mitigate impacts of the coronavirus pandemic (sanitation and health-related expenditures), and limited the award of new contracts while focusing on the payment of arrears. And again, the Bank of Ghana has tabled GH¢10billion to support the government’s budget for the year.

Mr. Terkper believes that with all these measures taken by the government and its agencies, it is in the best interest of accountability and transparency that whatever is disclosed to the international community be the same as disclosed to Ghanaians, whose mandate the government of the day seeks.

Farminista Africa: a social enterprise making farming easy and lucrative for women

March 19, 2020

internet picture: women_farmers_tanzania

There are those who dread the idea of going into farming. For some, it will never be part of their career options in life. For others, they fear they can never make enough money from it to take care of their needs and their families’. But one lady has gone beyond that boundary. She quit a lucrative job with a multinational company and started Farminista Africa – a social enterprise aimed at helping women in agriculture. Today, she shares her story with the B&FT’s Inspiring Startups about how it all began and the impact she made with her enterprise. Read on.

Debbie Ajei-Godson is the founder and CEO of Farminista Africa. She is a product of St. Mary Senior High School in Accra; and a graduate from the Ashesi University with a degree in Computer Science. From there, she went to the African Leadership University in Rwanda for her MBA.

After her education, she got employment with an IT consulting firm. Later she worked with Barclays Bank. Then, she took a little break from work to nurse her firstborn. Following that, she moved into the corporate world again, but this time, with Vodafone where she worked for more than five years in several departments. Even though her position was an enviable one, Debbie, surprisingly, didn’t have satisfaction with her work. So, she resigned eventually.

Her entrepreneurial journey

Debbie picked her entrepreneurial interest from her grandmothers. She grew up with both two grandmothers who were traders in agriculture products. When she was in Ashesi University, she sold clothes to her colleagues in school. During summer vacations when her colleagues were travelling abroad with the intention of going on a holiday, she would buy African fabrics and clothes and sell them when she went on vacations. On returning, she would again buy clothes from there and sell it to her colleagues.

Like her grandmothers, she also used to go to Niger to bring onions to sell on the Ghanaian market. She also went into rice farming and currently owns a rice processing facility in the Greater Accra Region. It is through this that she realised women in agriculture face challenges that their male counterparts don’t face. That was when she formed a social enterprise called Farminista Africa to address the three key challenges she identified with women in agriculture.

The main one, she says, is access to and control of arable land. She realised that most women didn’t own their personal farmlands and that posed severe challenges to them. So, Debbie and her team went to the chiefs in a town in the Oti Region, talked to them and informed them about their business idea; educated them on the advantages it will have on their local economy when the women are given arable lands to work on. Then, chiefs bought into their idea and gave them about 10,000 acres of land. So what the Farminista Africa does is that it either rents or sells lands to these female smallholder farmers.

The other challenge she saw was with inputs. Farminista Africa offers farm inputs to these women on credit so they are able to work with them and pay at flexible payment schedules. They do this by forming a partnership with input dealers who supply them with the inputs.

Then, the third problem Debbie sought to address was access to market. Currently, Farminista Africa has initiated processes to sign on to the Commodities Exchange platform to provide a ready market for these female smallholder farmers.

Currently, 95 women are benefitting from the Farminista initiative and she hopes to impact the lives of 2000 women. These women who are currently on the programme are now able to send their children to school and provide for their basic needs; something they couldn’t do initially.

Vision

Debbie says in the near future, Farminista Africa wants to explore a concept known as micro industrialization where it will have smaller processing units near farm areas that will help add value to the farm produce of these women farmers. Her big vision is to raise 250 successful women agribusiness entrepreneurs in the next five years.

Challenges

One major challenge Debbie has faced is with funding. She has had to rely on her personal savings and monies from other stakeholders to run the business. There is still an unwillingness on the part of financial institutions to increase financing to the sector.

Another challenge comes from the fact that she is a woman who has ventured into a male-dominated sector. The agricultural ecosystem in the country, she said, is not very favourable for women. In fact, most people initially do not take her seriously when she proposes an idea to them.

“I remember walking to a financial institution and the person I spoke to asked if there was any man in my team, or I was doing this on behalf of my husband.”

How important is the economic empowerment of women?

For Debbie, if the country will develop faster, it is important to also look at the women human resource of the country as that have more impact on society. So, she advocates that deliberate policies must be implemented to empower women economically.

How GCIC has helped

The Ghana Climate Innovation Centre (GCIC), she says, has been very helpful to her. The GCIC has provided her with the needed technical expertise which has helped her business institute measures that will promote sustainable growth. With the support of the GCIC, her company has learned to adopt best climate-smart practices in growing food.

Also, the GCIC has also promised to provide her with some funds to buy some farm machinery and equipment that will help eliminate post-harvest losses.

How education has helped her

Debbie says her knowledge in computer science has made her technologically inclined. And that has helped her to implement technological systems in her business operations. For example, she set up an e-commerce platform to crowdfund and raised money online when the business started.

She also has developed a website for the company where they are able to sell some of their products there. In future, she wants 90 percent of her deals to be done online. So her education, especially in IT, she says, has helped her employ technology in the things she does.

How the government can support women entrepreneurs

For Debbie, to support women entrepreneurs, there ought to be deliberate efforts tailored to their needs. It shouldn’t be a support that cuts across the board for everyone. There ought to be a deliberate policy for women in agriculture.

Advice

“I will like to encourage our leaders to give entrepreneurship a serious look. Entrepreneurship provides another leadership platform for us to solve the continent’s problems. And I will encourage the youth to also look at entrepreneurship. But before you go into it, ask yourself whether you are a problem-solver, a risk-taker, assertive, and business-savvy.”

Contact: 055 959 5450/050 600 0611

The SHS graduate making a living from black soldier larvae

February 27, 2020

It is rare to see young people engage in works that many of their colleagues consider being physically ‘dirty’. Today’s youth are most interested in acquiring a degree and getting a job that will put them in an airconditioned office. But that is not what a young lady called Rose wanted. After senior high school where she didn’t pass some of her subjects, she didn’t give up in life but decided to enter into an industry that is not common to many – making protein from black soldier larvae to make fish and poultry feed. Read as she talks with the B&FT’s Inspiring Startups about her journey.

Background

Rose Serwaa Oduro is a senior high school graduate who is currently taking an online course in psychology. She grew up in Koforidua in a very humble home. Her mother and father operated a local food joint popularly known in Ghana as ‘chop bar’. When she completed the Koforidua-based SDA Senior High School in 2014, her mathematics was bad and so she couldn’t progress to a tertiary institution that year. Rather than stay home and try her chances with private exams, she decided to take short programmes which could give her a job to do. She went to an aviation school and studied ticketing and reservation, and passenger handling. Later, she got a job with a travel and tour agency. It was in this company that he met the man, Emmanuel Noah, who would later become a co-founder of her company.

The start of West African Feeds

Emmanuel had earlier left the travel and tour company to venture into something else. Along the line, he chanced on a nice business idea which he didn’t have time to pursue so he discussed with Rose to see if she would be interested to take it up. The idea was about an alternative to a fish meal using black soldier fly larvae. She started reading wide about the idea and making market research to see if it will be feasible. After convincing herself that it is a good business idea, how to start also became a problem as she had no capital. But that didn’t discourage her. She applied for a grant at the Innovate Gh programme in 2019 and emerged the winner. So with the grant, the startup started operating.

Currently, the business is focused on extracting proteins from the black soldier fly larvae and supply them to companies that prepare fish and poultry meal. In the production process, first, the insects are trapped from the wild or domestically bred from decayed foods. Then they are transferred to a cage and later kept until they lay eggs and are hatched. These eggs later develop into larvae and they are used as protein for fish and poultry meal. From initially operating from a small bin at home, the business has now grown to own its farm in Accra where production takes place.

Vision

In the next five years, West Africa Feeds wants to grow to become a very large company that will supply all fish and poultry meal enterprises with protein from the black soldier fly larvae.

Challenges

One of the challenges that she is daily confronted with is access to food waste. Aside from a few businesses which have agreed to supply her with food waste, sometimes, she has to move from one food processor to another before she could have access to raw materials. When that happens, transporting it to her farm also becomes a very daunting task and expensive as well.

How education has played a role

Even though Rose has no higher education yet, she does not allow that to intimidate her. For her, once she can read and write English, it is enough for her to communicate with others and understand the language of business.

The role of GCIC

Rose says the Ghana Climate and Innovations Centre (GCIC) has played a very crucial role in her business development. The organisation has taken her through managerial training and educated her on how to run a sustainable business. She has been linked to a portfolio manager who assists her to address the knowledge and skills gap.

How important is the economic empowerment of women?

For her, empowering women economically is very important as she feels women have natural abilities to take care of things more than men. Again, she feels women have a more multiplier effect on society when they are economically empowered, so it is necessary for women to be empowered.

How should government support entrepreneurs?

Rose thinks entrepreneurship education should begin with senior high school students and not only in tertiary institutions. If students are taught entrepreneurial skills at that level, she says, those who do not make it to the university or other tertiary institutions will not feel hopeless. Rather, they would be inclined to start something on their own with the little idea they have about entrepreneurship.

Advise

“I will tell young entrepreneurs not to give up easily. The journey can be very lonely but be positive about the future and work hard and you will get there. The journey can either be easy or difficult depending on what resources you have available and the knowledge you have about what you are doing. But don’t give up when challenges come.”

Contact: 0248515348

Planting without soil…a young entrepreneur’s innovation

February 13, 2020

Innovation is what is driving today’s world. That is why businesses are told to innovate or die. One area where innovation is really needed on our continent is the agriculture sector and a lot of startups are trying in this regard. This week, the B&FT’s Inspiring Startups caught up with a young man whose passion for innovation made him ignore his father’s will for him to become a medical doctor to move into agriculture – a sector many youths despise. He has moved on to introduce a system of planting without soil. Read as he shares his story with us.

Cletus Bedi Gadri-Darrah grew up in Teshie-Nungua, a suburb of Accra. He is a product of Achimota School where he studied agriculture science. As a very brilliant student, his father wanted him to become the first medical doctor in the family. However, he could not secure a spot in medical school at the University of Ghana so he was offered to study agriculture science, an offer he took that made him fall out with his father. In fact, his father even withdrew from sponsoring his education because he didn’t listen to his advice to rewrite the exam and get grades that will make him qualify for medicine the following year. However, defiant Cletus would not give up. He used the money he had saved from an internet café business he was running after school to start his university education. Later, his father agreed to support his education, although still unhappy with him.

After his national service, he got employment with an NGO which was into agriculture. It was through this job that he became interested in farming, so he rented land in Sogakope and planted pepper on it. However, certain challenges he faced with the land made him start to think outside the box. And that is what brought the whole idea of ‘soilless’ farming.

The soilless journey

Cletus said while he was in the university, one of his professors was piloting a similar project where he started planting with water solution and other materials such as sawdust and manure. So with that exposure, Cletus researched more on how he could improve on the system. He got it right and started experimenting his ideas in a backyard farm. Any plant can grow in the soil, and the technology uses less water than soil needs. Again, this technology cuts down the cropping cycle of plants by about half. The materials used for making the soil are not made of chemicals, hence, making it perfect and healthy for organic farming. All products that come from this soilless technology are 100 percent safe.

Currently, his enterprise offers to set up this system at homes, offices, or anywhere convenient for clients. He also sets the system up for any farmer who wants to try this technology both on a small or large scale.

Vision

Cletus’ vision is that this becomes a widely accepted concept so that all who want to do some kind of farming, be it backyard garden or large-scale farming. In the era of the government’s agenda of Planting for Food and Jobs, he thinks this is the best system to push that agenda.

Challenges

As usual, funding is among the challenges he is facing. His innovation requires modern and sophisticated machines to do the processing of the soilless material.

Another challenge he is confronted with is getting people to accept the system as reliable and safe for planting. Some even have doubts as to whether the system functions properly.

How GCIC has helped

Cletus says the Ghana Climate and Innovation Centre (GCIC) has been of immense help to him in his entrepreneurial journey. He says it has provided him with the needed business training he needs to help him build his business sustainably. Again, the organization has also assisted him financially to purchase some machines for processing the materials for the soilless system. Had it not been the GCIC, Cletus says, he won’t be where he is today.

How education has helped

For Cletus, his educational background couldn’t have helped him better. For someone who studied agriculture both in senior high school and the university, it has given him the needed knowledge he needs to thrive in this field.

Cletus adds that he never regrets the choice he made in life, even though, his father has never agreed with him on the choice of profession in life.

How the government can support

Cletus says if the government extends more focus on agriculture and invest in it, many youths will be interested in joining the sector to turn the fortunes of the country. He urges the government to come out with policies to help agri-business startups. Again, he says, there should be more investment in research in agriculture to help entrepreneurs make the right decision when investing in the sector.

Advice

“Business is not cut out for everyone. But if your instincts tell you that is what you are meant for then you have to go for it. But there are a lot of challenges along the line and you must be very tough to overcome. Learn to start small and don’t think about flying from the beginning. Start small and grow; show the needed commitment and you will succeed. Furthermore, some youths think agriculture is for the uneducated. It is a wrong perception.”

Contact: 0243968479

I returned home to start a business…as told by a returnee

November 21, 2019

It seems The Year of Return started early for some Ghanaians in the diaspora. As we all know, home is where the heart is and this week’s B&FT’s Inspiring Startups features a young lady who had it all living abroad but decided to leave them behind and start a business in her home country, Ghana. That decision has proven worthwhile as her business is making strides around the world. She shares with us what inspired her to make such a choice. Read!

Yvette Tetteh is a British-born Ghanaian raised in London and South Africa. She studied at the Stanford University in the United States where she got a degree in Anthropology and French. After her first degree, she decided not to pursue her second degree immediately but to work in a research farm in the states. For, her doing farming or anything related to agriculture is her calling, as sitting in the office is not her thing.

Her homecoming

After working with the company for some six months, she resigned and decided to come to her homeland, Ghana, to start her own farm as she felt there is enormous opportunity in agriculture that does not exist in the states. To, at least, study the agriculture terrain and understand farming better in Ghana, she first worked with a company that provides agri-business solutions to farmers in the Western Region. And after six months with them, she quit beginning her own expedition into the entrepreneurship world.

Initially, her main goal was to venture into farming. But that goal changed when she was introduced to Emmanuel Ampadu, another young man who graduated at Ashesi University and later became her business partner. Rather than go into mainstream farming, they decided to add value to some agriculture products and in the process, help address post-harvest losses. Their focus was to dehydrate fruits and turn them into snacks and place them in supermarkets and eventually export.

The business starts

After months of research on packaging and testing the idea with different kinds of fruits, they had a solution. They got a company in China that provides them with the packaging; and they settled on mango, papaw, and banana as their main raw materials. But before they put their idea into implementation, they registered the business with the name Pure and Just Co Ltd.

Currently, her products are available in about 50 retail locations in Ghana and the UK; and talks are far advanced to get them in Russia also.

Yvette feels, her products are unique for the reason that they are purely organic with no additives added. They can last up to a year on the shelves and still maintain their delicious taste; they are healthy as they are made from fresh fruits, and they are proudly 100 percent made in Ghana.

Vision

In the next few years, Yvette says, they will like to scale up and double sales and their out-grower farmers. They also want to impact on the community by supporting the farmers to expand their production.

Challenges

One major challenge that Yvette encountered is the delay in processes of acquiring certifications and permits. Whereas it takes a few hours to get businesses registered in some countries, it could take weeks or months to get it done in Ghana, and Yvette says it is a major problem for businesses.

Another practice that affects her business is the significant delay of payments from retail shops she supplies to. It affects the business’ cash flow and starves her the capital she requires to expand.

How GCIC has been of help

Yvette says the Ghana Climate Innovation Centre (GCIC), a World Bank-funded organization, has offered her team valuable help in the form of managerial training. Her company has been assigned a portfolio manager who has helped them in straightening things in the business. The organization has further awarded them a US$40,000 grant to purchase a modern dehydrator and a biogas digester system which helps them to save money on the use of energy.

The role of education

For Yvette, formal education has been of immense benefit to her. She says she is able to think critically and analyse issues to come up with the best strategy to handle a problem. Without education, she feels she would have managed the business poorly, that is if she would even be able to manage.

Why empowering women economically is important

Empowering women economically, Yvette says, is very important as it affords them the opportunity and right to determine their course of life. She feels, in African society, the only way women can be independent and exercise their human rights is to be economically empowered.

And on the national level, empowering women economically, she says, would lead to development as more than half the country’s population are women.

How the government should support startups

Since 2017 that Yvette has been an entrepreneur in Ghana, she feels one major reform the country needs is in the area of public service delivery, especially, with regards to processes in obtaining certificates and permits.

Again, she suggests government’s main focus should be creating a business-friendly environment for entrepreneurs such as easy filling of taxes, among others, and leaving initiatives such as business competitions and pitching for the private sector and other donor organisations to handle. For her, if the environment is very conducive, startups would find capital to inject into their business and manage it well.

Advice

“I would advise my fellow young entrepreneurs that as soon as possible, they should establish connections with people who can help them and find advisors who can advise them to make the right decisions.”

Contact: +233 20 011 9525

GH¢4bn spent by 470,806 outbound visitors – GSS report

October 31, 2025

By Juliet ETEFE ([email protected])

Residents of Ghana spent an estimated GH¢4billion on international travel in 2023, according to the newly released Domestic and Outbound Tourism Survey (DOTS) from the Ghana Statistical Service (GSS).

The total outflow was driven by 470,806 outbound visitors, comprising 77,501 same-day travellers and 393,305 overnight visitors.

GSS explained that a visitor is a resident of Ghana who travels outside their usual environment for a period not exceeding 12 months for purposes other than employment in the destination country. Outbound same-day visitors returned to Ghana without spending a night abroad, while overnight visitors stayed at least one night outside the country.

Presented by Government Statistician Dr. Alhassan Iddrisu, the survey revealed that a significant majority of the expenditure – GH¢3.4billion – was attributed to outbound overnight visitors.

These travellers primarily visited friends and relatives (peaking at 40.6% of trips in Q3), with a significant portion also travelling for funerals.

Outbound overnight visitors aged 25–44 accounted for the largest share of visitors in each quarter. Female visitors aged 25– 44 dominated visits except in Q4 where males dominated (40.8%).

In contrast, the 77,501 outbound same-day trips, valued at GH¢59.8million, were predominantly for business and professional purposes (33.8% on average) followed by funeral-related travel.

Outbound same-day visitors aged 25-44 recorded the highest proportion in Q1 (49.0%), while visitors aged 0-14 had the highest share in Q3 (48.8%).

Rationale

Dr. Iddrisu emphasised that the survey is central to Ghana’s tourism planning and developing the Tourism Satellite Account (TSA), which measures the sector’s real contribution to the economy.

It provides reliable data on how Ghanaians travel, spend and engage in tourism, offering insights to guide investment, policy and service delivery.

The DOTS also aligns Ghana with international standards and supports the UN Sustainable Development Goal (SDG) 8, Target 8.9.1, which tracks tourism’s direct contribution to GDP and economic growth.

Regional and spending patterns

Greater Accra Region was the leading point of origin for overnight travellers, with quarterly figures ranging between 30,000 and 50,000. For same-day trips, Ashanti Region consistently recorded the highest number of travellers.

West Africa was the top destination for overnight travellers, receiving 242,055 trips throughout the year – with the highest quarterly volume of 73,069 in Q1. This reflected a strong sub-regional lane in mobility and culture.

The most significant spending by overnight visitors, however, was directed toward North America (GH¢734.70million) and Asia (GH¢721.50million).

For same-day travellers, Togo was the primary destination and recorded the highest on-trip expenditure at GH¢41.65million.

The data revealed a strong preference for self-arranged travel, which accounted for almost 90% of the GH¢3.03billion in on-trip expenditure by overnight visitors.

Policy recommendations

In response to the substantial outflow of travel spending, GSS noted that the country outbound tourism market is vibrant driven by young adults particularly professionals aged 25-44.

As such, GSS urged government to invest in transport and hospitality infrastructure to retain more spending locally and consider tax breaks for agencies that design outbound packages using local services and products.

The report also called on the private sector to develop comprehensive travel packages and quality local products to capture more value, while development partners were encouraged to fund training and digital tools for small tourism businesses to enhance competitiveness.

GEF2025: Experts urge efficiency, renewables to tackle US$3.1bn energy sector debt

October 31, 2025

By Kingsley Webora TANKEH

Panellists at the just-ended Ghana Economic Forum (GEF) 2025 have called for a renewed focus on efficiency, technology and renewable energy as sustainable means to address the country’s ballooning energy sector debt and ensure reliable yet affordable power supply.

The experts agreed that investing in efficient technologies and diversifying Ghana’s energy mix through renewables such as solar, gas and nuclear power offers a more lasting solution than continually increasing tariffs.

Setting the tone for this discussion, Technical Advisor at the Ministry of Energy and Green Transition Dr. Ishmael Ackah – speaking on behalf of the sector minister – highlighted systemic failures and weak oversight as root causes of the current power challenges and legacy debt. He noted that the sector’s debt, estimated at about US$3.1billion owed to Independent Power Producers (IPPs), underscores the urgent need for reforms to restore financial stability and efficiency.

“In 2006, the Energy Commission developed a strategic national energy plan. Unfortunately, this plan was not implemented,” Dr. Ackah stated.

He noted that this failure to plan is endemic in the entire national development process, stressing that it causes panic-driven procurement of overpriced energy during emergencies – plunging the sector into ‘dumsor’ and cyclical debt.

“We signed take-or-pay contracts for power we didn’t need and the bill, as always, landed at the Ghanaian people’s feet,” the Technical Advisor said.

He expressed concern over persistent inefficiencies and revenue losses within the energy sector, citing procurement practices that have not always served the state’s best interests. Such practices, he noted, have deprived the country of vital resources that could have been channelled into critical areas such as education and health infrastructure.

Dr. Ackah advocated greater transparency and accountability in managing the sector’s finances, adding that improved governance and oversight will help reduce waste and ensure value for money in future energy investments.

“In 2015, we did competitive procurement for solar and got a price less than US$0.10. We did not implement that. We actually signed solar projects that were US$0.18 and US$0.21.” This is a clear example of how not to run a sector.

Corroborating Dr. Ackah, Executive Director-Africa Centre for Energy Policy (ACEP) Benjamin Boakye expressed concern over the mounting energy sector debt, saying it is an albatross – “bigger than our annual investment in infrastructure”.

This means the money being poured into servicing this legacy debt is greater than the money spent to build roads, schools and hospitals, he explained.

“If we are able to take the energy sector burdens from the Ministry of Finance, we could perhaps double government investment in infrastructure. Your roads will be fixed,” he said.

The experts made these comments during a panel session at the GEF 2025, themed ‘Financing the future, tackling legacy debt and building a resilient economy.

They enumerated actionable remedies for the ailing energy sector to build a system capable of powering the country’s industrialisation agenda.

These included prioritising renewable energy in the nation’s energy mix, promoting accountability and ramping up tariffs-collection.

The experts argued that the sector’s problems are suffocating national development and the solutions require political will and systemic reform.

According to Dr. Ackah, among the factors needing immediate attention are non-cost-reflective tariffs despite them being among the region’s highest; and inefficiencies – from unmetered streetlights to widespread power-theft, which he fondly called “you touch”. He stressed that the sector’s unbudgeted subsidies for specific industries amounted to over US$190million in 2021 alone, further bloating the debt.

However, Dr. Ackah outlined ongoing government efforts including renegotiating Independent Power Producers’ contracts – which has secured a US$261million discount on legacy debts – and the recent passage of a Legislative Instrument mandating competitive procurement for power generation.

He also highlighted improved revenue collection by the Electricity Company of Ghana (ECG), which has risen from an average of GH¢800million monthly to GH¢1.5billion. However, this remains lower than the required GH¢2.4billion estimated by the Public Utilities Regulatory Commission (PURC).

In contrast, a partner at KPMG Ghana, Reindolf Annor, called for transparency; saying the increase in revenue can be attributed to tariff-hikes rather than supposed efficiency.

“We need transparency from the very top. How much have we collected from the energy levies? How much has been used to reduce the sector debt?” he quizzed, arguing that such accountability will build credibility.

He called for key performance indicators (KPIs) for state-owned energy enterprises, with severe consequences for non-performance. “If we want to turn it around, then there must be clear KPIs. If you are not performing, then decisions ought to be taken.”

The Chief Executive Officer (CEO) of the Chamber of Independent Power Producers, Dr. Elikplim Kwabla Apetorgbor, proposed monetising state-owned thermal plants and selling idle capacity to neighbouring countries to rope-in more revenue to offset the debt.

“We are blessed to be surrounded by countries that are hungry for electricity. We should free the system and allow this idle capacity to be sold outside,” he urged.

The panellists concurred that the current energy model is too expensive and inefficient, calling for the addition of renewable and cost-efficient sources to the mix.

The Technical Director of ESPco Nuclear, Dr. Nii Kwashie Allotey, challenged the notion that renewables are incompatible with industrialisation.

“Today we are running simple cycle plants at US$0.11 per kilowatt-hour. We can get the same energy from renewable energy for less than US$0.10,” he argued, citing China and India as industrial giants that use renewables.

He and the others stressed that offsetting the legacy debt shouldn’t come at the expense of local industry.

“We’ve reached a point where you are killing the goose that lays the golden eggs,” Dr. Allotey warned, alluding to the burden of high tariffs on industries.

Going forward, Head of Engineering Unit-Volta River Authority (VRA) Kwaku Wiafe made a case for government investing in nuclear energy so it becomes the baseload complement to hydro- and gas-powered plants.

He also called on government to establish a board for the Nuclear Energy Programme Implementation Organisation, adequately resource the project operating organisation (Nuclear Power Ghana) and view nuclear as a national transformation agenda, not just a power source.

“Countries are giving tariffs for nuclear from US$0.29 for plants that are already paid for to about six cents for new plants,” he revealed, presenting it as a viable, long-term solution for affordable, stable power.

The Ghana Economic Forum (GEF) 2025, organised by Business and Financial Times (B&FT), fostered in-depth discussions on critical issues shaping the Ghanaian economy.

The 14^th edition was sponsored by Fidelity Bank and KPMG. The event, themed, ‘Currency stability – A reset for sustainable economic growth’, gathered technocrats, policymakers and stakeholders in finance, energy and agriculture to explore solutions for Ghana’s economic challenges.

Fire outbreak at China City Mall, Santasi Star Junction

October 30, 2025

A fire has gutted parts of the China City Mall located at Santasi Star Junction in Kumasi. The incident reportedly began late Thursday afternoon, sending thick plumes of smoke into the sky.

Eyewitnesses say the cause of the fire remains unclear, but officials from the Ghana National Fire Service are currently on site working to contain the blaze.

No casualties have been reported so far, and efforts are underway to prevent the fire from spreading.

DTI commissions Africa’s first AWS-Certified Welding Training and Testing Centre

October 30, 2025

By Buertey Francis BORYOR

The Design and Technology Institute (DTI) has commissioned Africa’s first American Welding Society (AWS)-certified Welder Training and Testing Centre, marking a significant milestone in Ghana’s technical and vocational education and training (TVET) landscape.

The state-of-the-art facility, located at DTI’s campus, is equipped with a 40-booth workshop, digital welding simulators, and a metallurgical training laboratory.

It is designed to train and certify Ghanaian welders to international standards, positioning them for opportunities both locally and globally.

Speaking at the inauguration ceremony, Dr. Archibald Buah-Kwofie, Acting Director of the Nuclear Power Institute at the Ghana Atomic Energy Commission, described the centre as a “strategic national asset” and a “catalyst for transforming Ghana’s TVET landscape.”

“This facility is not just another training centre. It is a bold statement that Ghana is ready to train its youth to world-class standards,” he said.

Dr. Buah-Kwofie also underscored the importance of welding in Ghana’s emerging nuclear energy sector, noting that certified welders would be critical in the construction and maintenance of future nuclear facilities.

He called for a national welding dialogue to establish a framework for standardizing training, aligning curricula, and certifying welders across the country.

“This commissioning must inspire us to do more. Every region of Ghana should have access to a world-class TVET facility,” he added.

DTI President, Ms. Constance Swaniker highlighted the institute’s five-year journey, advocating for stronger collaboration between academia and industry.

She noted that the skills mismatch between graduates and industry needs has contributed to high youth unemployment and low productivity.

“DTI’s 70 percent employability score, validated by the ISE assessment, is a testament to our commitment to co-designed curricula, entrepreneurship training, and industry-led instruction,” she said.

The centre integrates soft skills training facilitated by clinical psychologists and arts-in-education specialists, ensuring graduates are not only technically competent but also emotionally intelligent and workplace-ready.

Ms. Swaniker said the initiative reflected a growing alignment between the public and private sectors to build a skilled, confident, and globally competitive workforce among Ghana’s youth.

She said the Centre, equipped with a 40-booth workshop, digital welding simulators, and a metallurgical testing laboratory, will offer internationally certified training and testing services to meet the demands of both local and global industries.

“This Centre sets a new benchmark for human capital development in Ghana’s TVET sector,” Ms. Swaniker said.

“It creates dignified, well-paying job opportunities for our youth, reduces costs and delays for industry, and transforms petroleum revenues into human capital dividends for Ghana.”

Ms. Swaniker highlighted the importance of bridging the gap between academia and industry, noting that the disconnect had contributed to high youth unemployment and limited productivity.

She cited global examples from China and India, where structured collaboration between academia and industry has led to innovation and job creation.

She said DTI’s efforts over the past five years- including strategic partnerships, curriculum alignment, and work-based learning initiatives had resulted in a 70 percent employability score for its graduates, according to the IFC Vitae Assessment.

Ms. Swaniker expressed gratitude to the Mastercard Foundation and other stakeholders for their continued support in advancing TVET in the country.

Mr. Isaac Tetteh, Head of the Welding and Fabrication Department at DTI, in remarks emphasised the centre’s role in producing globally competitive welders aligned with AWS, ASME, and ISO standards. He described the facility as more than a physical structure, but the realisation of a dream to train, certify, and elevate the continent’s welders to global recognition.

Additionally, he highlighted its state-of-the-art Mechanical and Metallurgical Testing Laboratory as a game-changer for the country’s industrial sector. “For the first time in Ghana’s TVET space, organisations in oil and gas, power generation, mining and construction can conduct all required mechanical tests and welder qualifications locally,” Mr. Tetteh stated, noting this would significantly reduce dependency on international testing services and support local content development.

Furthermore, he announced plans to position DTI as the continent’s ‘Welding Centre of Excellence’ through strategic partnerships with globally recognised bodies such as DNV and ABS. These collaborations he said, will pave the way for advanced professional certifications, including Certified Welding Inspector and NDT certifications, crucial for the Ghana’s industrialisation and energy transition.

Moreover, Mr. Tetteh reaffirmed centre’s commitment to holistic development, integrating soft skills training facilitated by clinical psychologists to produce “well-rounded professionals who are not only technically competent but also emotionally intelligent, disciplined, and industry-ready.

The Centre adopts the AWS SENSE curriculum and aims to produce highly skilled welding and fabrication professionals who meet international standards. It is expected to reduce reliance on foreign labour, enhance local content in major infrastructure projects, and create dignified, well-paying jobs for the country’s youth.

ASA Savings and Loans empowers customers through breast cancer awareness

October 30, 2025

By Samuel SAM

The Tamale North Branch of the ASA Savings and Loans Limited, a microfinance institution with a commitment to women’s health and early intervention, has organised a health outreach programme and free breast cancer screening for customers .

The exercise, which was held in collaboration with the Breast Care Unit of Tamale Teaching Hospital and screened over 100 women, aimed at promoting early detection, education and free screenings, thereby prioritising the women’s health as part of its corporate social responsibility (CSR) initiatives in the Breast Cancer Awareness Month.

It was also aligned with the global “Pink October” campaigns, aimed at reducing late-stage diagnoses and support community well-being.

In October 2025, ASA launched a nationwide breast cancer screening and health outreach programmes across its 15 branches while collaborating with medical teams for screenings, education on self-examinations and lifestyle awareness.

Oncology Nurse Specialist Mad. Gifty Sarfo Annan expressed gratitude to the institution for the kind gesture, saying: “It has helped the women to know their health status and those affected to seek early medical care.

According to her, one out of eight women record the cancer without knowing while 20 percent of men also get infected; hence, the need for all to go for medical check-ups.

To ensure effective and efficient awareness, there is the need for corporate organisations to extend the awareness creation and the exercise to other communities, he said. She further educated women on warning signs like lumps, discharge, size changes and pain, urging early treatment while calling for support for affected victims and urging the public to desist from stigmatisation against persons with breast cancer.

Area Manager – Tamale North ASA Saving and Loans, Mr. Martin Yenuman-Weingam, noted that the outfit – observing that majority of their clients are women who depend on trading and October being the month of breast cancer – decided to organise free health screening for them.

He said the initiative is to build trust and strengthen community ties to address non-financial barriers that impact economic participation.

The health status of the clients are paramount and giving back to society has been the priority of management, thereby underscoring ASA’s sustainability strategy pillar on health; hence the initiative, he said.

“Breast cancer is the most common cancer among Ghanaian women, with over 4,400 cases reported annually per Ghana Health Service data; and ASA’s initiatives address barriers like low awareness and financial burdens of late-stage treatment”, he said.

According to him, the office has been providing loans with low interest to the customers to expand their businesses. “So far, over 1,300 women have benefitted from the facility to cushion their businesses and able to contribute to the family needs.

“As a financial institution, we are committed to promoting financial inclusion for clients, especially women entrepreneurs, to sustain and grow their businesses for economic growth,” he explained.

He stressed that the institution also integrates financial literacy training to its client interactions, teaching budgeting, savings and debt management to empower its clients to make informed financial decisions.

Youth-Led Climate Enterprises Showcase Innovative Solutions

October 30, 2025

The In-Country YouthADAPT Challenge Demo Day – Ghana took place on Thursday, 16th and Friday, 17th October 2025, at the West Africa Centre for Crop Improvement (WACCI), University of Ghana, bringing together some of the country’s most promising young entrepreneurs driving climate adaptation and green innovation.

The event was co-organized by the Global Center on Adaptation (GCA) and the Kenya Climate Innovation Center (KCIC) under the African Adaptation Acceleration Program (AAAP), with the support of Ashesi University’s Ghana Climate Innovation Centre (GCIC).

The programme aimed to unlock climate finance, policy support, and technical assistance for youth-led enterprises developing climate adaptation solutions across Africa.

On Thursday, October 16, five Ghanaian businesses pitched their innovative ideas for a chance to receive a financial grant of up to USD 30,000. The enterprises included:

Influx Groundnuts, represented by Hamza Mabruka
Timoya Farms Ltd, represented by Moses Tiborgnan
Dorthnoch Limited, represented by Queenstar Nsakie
Food for All Africa Mobile Technologies Ltd, represented by Elijah Amoo Addo
Eorganics, represented by Theophilus Delali Dumenyo

Each entrepreneur presented their climate adaptation solution before a distinguished five-member jury, comprising:

Huzaifa Abdulai, General Manager, Spry
Gustav Nii Ayi Mokobi Aryee, Head, Commercial Banking – Fidelity Bank
Andrew Akoto, Manager, Corporate Social Investments – Injaro Investment Advisors Limited
Disraeli Asante-Darko, Head, Business Administration Department – Ashesi University
Zelda Barnes, Business Growth Strategist

Speaking at the event, Hon. Emelia Arthur, Minister for Fisheries and Aquaculture, stated “Youth-led enterprises can drive innovation in climate-smart aquaculture systems, such as recirculating aquaculture systems, integrated multi-tropic aquaculture, and solar-powered hatcheries.

I have no doubt that our young and vibrant entrepreneurs present here have worked tirelessly to develop viable solutions that will spearhead change in their communities and beyond.”

Gloria Gowal-Abiri, Programme Specialist (Youth, Jobs & Entrepreneurship) at the Global Center on Adaptation, emphasized the growing reach of the initiative noting, “Since its inception, this challenge has supported 41 youth-led enterprises across three cohorts in 20 countries.

We have two alumni in Ghana. We’ve supported these entrepreneurs with catalytic grant funding of $100,000. GCA has further refined the challenge into country additions as we aim to bring the impact closer to the ground and to unlock domestic private sector financing for adaptation. Through these country-level efforts, we aim to identify, support and scale enterprises, yielding resilience in critical sectors such as agriculture, water and infrastructure.”

Echoing this sentiment, Joseph Murabula, Chief Executive Officer of the Kenya Climate Innovation Center (KCIC), emphasized the value of partnerships in scaling adaptation solutions across Africa.“Our participation in the YouthADAPT Challenge aligns with KCIC’s Pan-African mission to nurture green innovators.

By working alongside local partners such as the Ghana Climate Innovation Centre, we are strengthening knowledge exchange and empowering youth to transform climate challenges into sustainable business opportunities.”

The second day of the event, held on Friday, October 17, featured a panel discussion moderated by Innohub, with representatives from GCA, KCIC and GCIC. The discussion underscored the importance of collaboration and ecosystem partnerships in accelerating the growth of climate adaptation enterprises. Panelists highlighted that shared learning, joint initiatives, and partnerships among institutions, investors, and innovators are critical for scaling impact and achieving climate resilience across Africa.

The In-Country YouthADAPT Challenge forms part of a broader effort under the African Adaptation Acceleration Program (AAAP) co-led Global Center on Adaptation (GCA) and the African Development Bank (AfDB) to accelerate climate adaptation actions across the continent while promoting youth empowerment and job creation.

Through this initiative, Ghana continues to position itself as a hub for climate-smart entrepreneurship, thereby nurturing the next generation of innovators building resilience in communities and industries most affected by climate change.

About the Global Center on Adaptation
The Global Center on Adaptation (GCA) is an international organization that promotes adaptation to the impacts of climate change. It works for climate-proof development by instigating policy reforms and influencing investments made by international financial institutions and the private sector.

About the Kenya Climate Innovation Center (KCIC)
The Kenya Climate Innovation Center (KCIC) is a leading organization in Africa providing incubation, capacity building, and financing to enterprises and entrepreneurs in the green economy. With a new Pan-African mandate, KCIC is dedicated to catalyzing climate entrepreneurship across the continent to build sustainable enterprises and resilient communities.

SMT donates furniture and souvenirs to Huni-Ano M/A Basic School

October 30, 2025

SMT Ghana, a premium distributor and aftersales partner for Volvo Construction Equipment, Volvo Trucks, and other renowned brands, has once again demonstrated its commitment to supporting education and community welfare.

The company has donated teachers’ and school desks, chairs, school vests, and souvenirs to the Huni-Ano M/A Basic school located in the Prestea-Huni Valley District of the Western Region of Ghana.

The donation forms part of SMT Ghana’s ongoing Corporate Social Responsibility (CSR) initiatives, aimed at improving education and promoting road safety among children in communities where the company operates.

Speaking at the presentation ceremony, Mr. Amaury Lescaux, Managing Director of SMT Ghana, emphasized the company’s dedication to giving back to society. “At SMT Ghana, we believe our responsibility extends beyond providing quality equipment. We are deeply committed to supporting education and promoting road safety, which are key pillars of our Corporate Social Responsibility (CSR) activities. Our core values ’Caring, Daring, and Sharing’ continue to guide our contributions to communities like Tarkwa,” he stated.

In addition to providing desks and chairs for the teachers, SMT Ghana also introduced the “Stop, Look, Wave” road safety program, a Volvo Trucks initiative designed to teach children how to stay safe on the road, especially around heavy-duty vehicles.

Mr. Jasper Agbakpe, Training Manager at SMT Ghana and a certified Volvo trainer, led the session with practical demonstrations on how pupils can safely cross roads. He highlighted the importance of vigilance and awareness when walking near trucks and busy highways.

Expressing his gratitude, Mr. Benjamin Mensah, Headmaster of Huni-Ano M/A Basic School, described the gesture as a “dream come true.” “We have been praying for support like this for a long time. This donation goes beyond desks and chairs. It represents an investment in the education and well-being of our pupils,” he said.

The event concluded with the presentation of reflective vests to the school to assist pupils when crossing the major highway near the school premises, further reinforcing the focus on child safety.

Mrs. Hilda Peasah, Marketing and Communications Director of SMT Ghana inspired the kids to take their studies seriously and inculcate the road safety initiative ‘Stop, look, wave’ as a daily habit to stay safe whiles getting the best of education. SMT Ghana, she re-echoed will prioritize in investing adequately in its customers and the larger society through its CSR programs aside the provision of quality sales and aftersales service.

Through initiatives like these, SMT Ghana continues to make a meaningful impact by blending corporate responsibility with community development, ensuring that its success in business also translates into social progress.

The neocolonial chains: How western-educated elite are bringing our nation to its knees

October 30, 2025

By Ben BRAKO

The story of the Republic of Ghana, once the vanguard of African liberation, is fast becoming a tragic epic of national betrayal. It is a nation not merely grappling with developmental challenges, but one deliberately choked by an insidious internal malaise.

This crisis is not fueled by external adversaries; it is driven by the very individuals entrusted with its future: a Western-educated elite who have perfected the role of the comprador class, willingly perpetuating a toxic form of neocolonialism for personal profit and validation.

These ‘Uncle Toms’—educated in the institutions of their former masters—are not merely indifferent; they are active conspirators. In a chilling demonstration of moral abdication, this class is partying whilst the country burns, deliberately ensuring Ghana’s sovereignty remains a cruel illusion, serving only external powers and their own vested interests.

Yet, for every collaborator, there is a resister—the likes of Dr. Kwame Nkrumah and other Pan-Africanists who understood that true freedom demands a complete break from colonial structures. Their failure to institutionalize this vision, however, is the tragedy we now inherit.

The illegitimate foundation: sidelining traditional authority

The root of Ghana’s systemic rot is found in the very moment of its supposed emancipation. When the British colonial power ceded control, they executed a calculated, fatal institutional maneuver. They did not restore authority to the traditional chieftaincy—the authentic, historical custodian of the land from whom power was seized—but instead imposed their own creation: the Westminster-style parliamentary governance.

This transfer was a masterful act of continued control. The 1957 Constitution established a system where political power flowed from the colonial model, fundamentally sidelining the inherent and long-standing legitimacy of indigenous rule. Power was handed to a carefully selected cadre of Ghanaians, the nascent elite, who had been systematically trained in the colonial master’s image.

They were masters of British law, fluent in the Queen’s English, and adept at operating the bureaucratic machinery of empire, yet fundamentally disconnected from the indigenous systems of accountability and communal governance that defined the Ghanaian identity. They were given the keys to a nation they understood only through a foreign, neocolonial lens.

The independent Ghanaian state, therefore, was built on an illegitimate foundation. It created a political class immediately prone to carrying on the mechanics of neocolonialism as if there were no tomorrow, ensuring a permanent chasm between the rulers—who only respect external models—and the ruled, who desperately cling to a disregarded heritage.

Reimagining the curriculum: from colonial subjects to African citizens

Nowhere is the cultural and developmental betrayal more visible than in the educational and training system. The nation’s elite have steered education not towards national empowerment, but towards personal validation and social capture. The focus is obsessively centered on high-sounding professions—Law, Medicine, Engineering, Doctorates—prizing white-collar status over the foundational, practical skills required to build an independent, industrialized nation.

This vainglorious pursuit of elitist capture often descends into the truly comic and crass. Consider the spectacle at Achimota, a premier secondary school, where administrators recently refused to admit qualified Ghanaian students based on their traditional hairstyles, effectively using a colonial-era aesthetic rule as a tool of social exclusion.

This stunning display of cultural self-loathing upholds the colonial social code, prioritizing European notions of decorum over both academic merit and African heritage, all while completely neglecting traditional education and indigenous knowledge. They are so focused on mimicking the mannerisms of the West that they actively fight the very culture they are meant to lead.

The consequences of this misdirected investment are catastrophic:

The Brain Drain Tragedy: The government spends colossal sums training these highly specialized professionals, yet fails to invest in the domestic facilities required to employ them. The result is a debilitating brain drain, where the most skilled Ghanaian graduates are forced to emigrate. According to some reports, as recently as 2002, Ghana had 1,294 doctors practicing domestically but 1,639 Ghanaian doctors practicing abroad—meaning the nation was training more doctors for the West than for its own hospitals. Thus, European and American institutions are the true beneficiaries of Ghana’s massive financial investment in education, inheriting perfectly trained talent at zero cost.

A Constructive Alternative: To reverse this, the focus must shift immediately to strengthening vocational training and indigenous curricula—prizing artisans, software developers, master builders, and agricultural scientists who solve local problems. Education must serve national survival before it serves elite status.

The crime scene state: triumphant impunity of corruption

The governance system is utterly poisoned by corruption, transforming the political landscape into a moral desert. The scale of the graft is so immense that it is financially crippling the state; the amounts these officials steal often exceed what the country borrows, making theft, not development, the state’s primary financial operation.

Political power is no longer a trust but an investment scheme. The governance system of party politics operates like rival gangs of thieves, where political power is bought, and office appointments—even to top and sensitive positions—are given as rewards for loyalty and finance rather than competence and ability.

The normalization of this criminal enterprise is perhaps the most dangerous sign of national decay. The infamous Woyome judgment debt scandal, where a businessman was paid approximately $30 million USD of public funds under questionable circumstances, exemplifies the brazen impunity of this system. In the face of accusations that administrations have stolen upward of $21 billion USD, the alleged culprits are still holding lavish parties, driving luxury cars, and enjoying the high life, completely unbothered by the struggling populace.

Faith and Survival: Aligning Spiritual Investments with Human Needs

The ultimate, symbolic indictment of the elite’s warped vision is the grotesque misallocation of national resources. When a nation struggles to provide basic healthcare for its citizens, the decisions of its leaders become matters of life and death.

The failure to invest in life-saving infrastructure is indefensible. The tragic deaths of a sitting president, a vice president, and a first lady—all due to the lack of normal emergency health facilities and specialists—are damning evidence of the elite’s negligence.

Yet, amidst this humanitarian crisis, the nation witnessed a staggering act of egoistic misdirection: an ex-President spent over $30 million USD on the foundation of a cathedral. This immense sum was devoted to a monument of vanity and legacy, while countless communities across the country lack even ordinary health posts, clean water, and functional schools. This act confirms the elite’s priority: they value their own spiritual or political legacy, built in stone and glory, far above the actual, tangible survival of the people they swore to serve.

The Verdict: A Call for Sovereign Accountability

The malaise in Ghana is not an economic or a political problem in isolation; it is a crisis of conscience. It is the result of an elite class that has deliberately chosen cultural abdication and institutional decay over authentic national leadership. They have embraced the role of the “Uncle Tom,” dutifully maintaining the neocolonial structures that keep the nation dependent while they gorge themselves on the spoils of office.

The solution demands more than electoral cycles; it requires structural redesign. Ghana must:

Redesign Governance: Implement robust, non-partisan accountability mechanisms that actively prosecute corruption, regardless of party affiliation.

Restore Trust in Tradition: Develop a system that integrates the local legitimacy and accountability of the traditional chieftaincy into localized governance, moving beyond the imposed Westminster model.

Prioritize Production: Redirect all national training towards vocational, technical, and applied sciences to ensure national self-sufficiency in manufacturing, agriculture, and infrastructure.

The chains are no longer forged in London; they are forged in the halls of Accra by a ruling class that willingly locks the door behind them, suffocating the light of the Black Star in self-imposed darkness.