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Lower power tariffs could sink investor appetite – RMB Research

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Lowering electricity tariffs is welcoming news for consumers, but not investors whose capital is very much needed to curb operational inefficiencies and clear unpaid subsidies, South Africa based RMB Research, which analyses global markets, has said.

In its review of Ghana’s 2018 budget, RMB noted that despite the good works of the government to achieve macroeconomic stability, what is good for inflation and operational costs will not necessarily be good for the power sector.

 “Although Ghana’s electricity supply has improved, it remains low, with power production still relying heavily on hydropower. Unpaid subsidies and bills and operational inefficiencies have left power-sector companies financially unstable. The energy bond financing plan was unsuccessful, and therefore the sector remains weak,” it said.

For various consumer categories, the government has proposed for the consideration of the Public Utilities Regulatory Commission, between 13percent and 21percent tariff reductions, following considerable pressure mounted by industrial sector players, in particular, that Ghana’s power tariffs had become uncompetitive.

RMB Research, which is a subsidiary of South Africa’s Rand Merchant Bank, believes that despite the government promising to invest large resources to upgrade transmission and distribution systems, the success will be tied closely to the availability of appropriate financing opportunities.

“And lower electricity tariffs make the sector look less attractive for private-sector investment,” it added in its review.

Currently, the total electricity demand of the nation, according to the Energy Commission, is 2,533MW for homes, schools, businesses, and industries. Even though, the hydro and thermal supply chains, the two major sources, have about 4,577MW installed capacity in 2017, the only available capacity for consumption is only 1,895MW, with the bigger chunk coming from hydro.

Playing by the fiscal rules

RMB Research is of the view that by continuing on the path of fiscal consolidation, the government will keep sentiment strong and the currency stable. “It is up to the private sector to carry the economy by implementing initiatives like the reduction in electricity tariffs for residentials and industrials.

“We believe the latest budget plans are achievable, not just because of additional revenue from crude exports, but owing to the fact that the government is well aware of both the risks of further fiscal slippages and the adverse effect it could have on debt dynamics. Ghana still faces high financing costs in both its domestic and external markets,” it added.

So far so good for FY17

Fiscal consolidation and rising oil production have helped the government to broadly reach its 2017 budget targets.

The deficit was 4.6percent of GDP at the end of September –lower than the 4.8percent deficit target–, while the primary balance moved into surplus, which is 0.2percent of GDP.

Though revenue and grants have missed their target by 9.3percent so far, it still reflects a healthy 16.2percent increase, compared to a 4.1percent rise in 2016. Total expenditure, including the clearance of arrears, was slightly lower than 2016, and 8.1percent short of the GH¢4.1billion target. 

The reduction in the fiscal deficit and debt re-profiling, according to RMB Research, have helped the debt-to-GDP ratio decline to 68.6percent as at September 2017, from 73percent at the end of 2016.

“Importantly, the annual average rate of debt accumulation of 36percent over the last four years has dropped to 13.6percent for the 2017 period. From a macroeconomic perspective, provisional GDP growth of 7.9percent is expected for 2017, driven mostly by the industry sector –estimated at 17.7percent growth – supported primarily by rising production in upstream oil and gas. This growth will normalise; hence the 6.8percent growth expectation for 2018.”

Key assumptions in the budget include a fiscal deficit of 4.5percent of GDP, from an expected 6.3percent in 2017 and primary balance of 1.6percent of GDP, from a preliminary 0.2percent. Macroeconomic assumptions include overall GDP growth rate of 6.8percent, non-oil GDP growth rate of 5.4percent, average inflation rate of 9.8percent and FX reserves of no less than 3.5 months of import cover.

Government plans to spend a total of GH¢62billion, representing 25.7percent of GDP and 14.5percent more than the previous year’s budget. The planned expenditure includes provisions for debt arrears payments. The shortfall will be financed with funds from local and foreign sources, including dollar bonds.

 

 

Gov’t pets private varsities to absorb free SHS graduates

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Demand for tertiary education is expected to explode by the year 2020, from the first batch of Free Senior High School beneficiaries, and the government has said its waiver of corporate income tax on private universities is meant to enable them invest in infrastructure and admit more students.

Speaking at a graduation ceremony of Datalink University College in Tema, the Minister in-charge of Tertiary Education, Prof Kwasi Yankah, said the private universities need to rise to the occasion.

“We are aware of the implications of the free SHS for admission to universities as from the year 2020. The demand for higher education will be greater, and as happened in the late 1980s after the educational sector underwent considerable reforms, there was an explosion of qualified students, whom the public sector could not absorb.

Nearly 30 years after, a similar situation has arisen, and the private sector would be expected to intervene and help cope with the situation. Universities in general need to expand, and diversify their programmes to accommodate the avalanche expected, he said.

By the year 2020, over 400,000 Free Senior High School (SHS) students would be expected to be seeking entry to tertiary schools.

The reality, however, is that this single batch of free SHS beneficiaries are more in number than the entire student population of the 138 tertiary institutions in the country at the moment.

Prof. Yankah said the tax waiver is expected to give private universities a measure of relief, and help them utilise the savings made to expand their facilities and absorb the large throng of Free SHS beneficiaries.

“But the private universities would have served the national purpose even better, if expansion contemplated by private universities is in the area of STEM disciplines: science, technology, engineering and mathematics.

It is, indeed, the intention of government to introduce supplementary policies that would move us faster towards the 60:40 science-to-humanities ratio, which the nation is still struggling to attain.”

Private universities are responsible for over 20percent of all university admissions every year, and also employ thousands of staff.

2018 budget

Presenting the 2018 budget statement to Parliament, Finance Minister, Ken Ofori-Atta, said private institutions will no longer be required to pay corporate income tax.

“Income tax [25percent] will be waived on privately-owned universities, to the extent that profit is ploughed back to maintain the facilities. We will work to achieve the same for privately-owned SHSs in the future,” he said.

“The education sector represents a high growth potential, with multiplier effects on the economy, as confirmed by a recent ‘Country Private Sector Diagnostic’ study by the World Bank Group. This is borne out by the rapid growth in privately-owned and managed universities, as well as in the inward flow of students from the West Africa sub-region.”

 

Gov’t cancels 11 power agreements …state to pay US$402m in settlement

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Boakye Agyarko

Energy Minister, Boakye Agyarko, has told Parliament that government has cancelled 11 Power Purchase Agreements (PPAs) at a cost of US$402million, given their precarious nature and the total cost of US$7.6billion that would have accrued in capacity charges over a 13-year period.

Mr. Agyarko told Parliament last week that: “The Ministry of energy tasked a committee led by the Energy Commission to review all Power Purchase Agreements (PPAs) signed by the ECG for conventional power projects. The Committee reviewed 26 out of the 30 PPAs the ECG had initiated.

Four others were not reviewed because they were already underway. The combined generation capacity of the 28 PPAs is 7,298MW of power.

The review recommended that four PPAs with a combined capacity of 1810MW, be deferred to 2018 for 2018-2025. Three PPAs with a combined capacity of 1150MW be deferred to beyond 2025.”

He added that: “The Committee recommended that 11 PPAs with a combined capacity of 2,808MW be terminated. The estimated cost for termination is US$402.39m compared with the average annual cost of US$ 586million or a cumulative of US$7.6billion from 2018 -2030. This yields an estimated saving of US$7.21billion over a 13-year period.”

Prior to his appearance before the 275-member Legislature, he told Accra-based Oman FM that: “With some of the PPAs, you could clearly see that it was just signed with no merit. We grouped the PPAs into various categories. There were three (3) PPAs that you could see that there was nothing that could be done about it because they have met all their conditions precedent, they have come to financial close and have begun building the plant; you can simply not cancel such PPAs. Those three, we can absorb.

There was a fourth one called Marinos, which is a 50MW plant. We flare a residual gas, Isopentane — a flammable liquid gas – from the Jubilee filed. No turbine in Ghana is able to use it but Marinos said they can generate power using that gas. So their PPA was added to the three and we have asked them to move towards financial close.

Isopentane, C5H12 — also called methylbutane or 2-methylbutane, is a branched-chain alkane with five carbon atoms.

It is an extremely volatile and extremely flammable liquid at room temperature and pressure. The normal boiling point is just a few degrees above room temperature, and Isopentane will readily boil and evaporate away on a warm day. Isopentane is commonly used in conjunction with liquid nitrogen to achieve a liquid bath temperature of 160 °C. It is 1% or less of natural gas.

The Energy Minister indicated that other PPAs were cancelled outright because there was a long stop. Meaning the companies waited without acting for so long that the contracts have expired, indicating that there is no financial obligation to the state in those cases.

 

The ‘cursed’ group

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…the mysterious story of Ghana, Italy, Czech and the USA not going to Russia

Italy’s failure to qualify for next year’s World Cup after losing out to Sweden in the play-offs, means that all four teams from Group E of the 2006 edition of the tournament, will not be in Russia next year.

For those who believe in superstition, this may sit well with you. The four countries: Ghana; Czech Republic; United States of America and; Italy, which were all pitted in Group E in Germany 11 years ago, have mysteriously failed to book a place in next year’s football festival.

So how did it happen?

After making a maiden appearance in 2006, the Black Stars of Ghana, participated in the ensuing two tournaments in South Africa 2010, where the team was prevented from reaching the semi-finals stage by Luis Suarez’s famous ‘hand of the devil’ handball clearance of a goal bound ball, and in Brazil 2014.

The last edition in Brazil four years ago turned out to be the country’s worst performance in the competition, following a group stage elimination, and subsequent player revolt which led to the country been held to ransom because of player bonuses.

In the case of Ghana, “It was the clear case of inconsistency and non-seriousness; they took things for granted,” Prince Dornu-Leiku, a sports analyst, said in reaction to the Black Stars’ inability to make it to Russia.

After losing against Egypt, and drawing against Uganda and Congo Brazzaville in the first three games, the warning signs were already clear that the Black Stars, which had been Africa’s best representatives at the last three editions, were in danger of not qualifying.

“Coach Avram Grant was a very bad decision. When he came, we were around 14 in the FIFA World Rankings, and he left us at the 53rd position. We were also busy fighting each other, an example being the Ayew brothers’ saga, which was simply unnecessary,” Mr.Dornu-Leiku added.

For the Czech Republic, after participating in the 1988 and 1982 as Czech of Slovakia, Germany 2006 was their first appearance after they became known as the Czech Republic.

Prior to the tournament in 2006, the Czech Republic was at their strongest with players like Pavel Nedved, Jan Koller, Petr Cech and Tomas Rosicky. Ranked second in the world before going to Germany, the Czechs were seen as one of the hot favourites for the cup in 2006, however, they did not make it out of the Group, and have since failed to make it the World Cup again.

So their failure to reach next year’s tournament did not really come as big surprise.

Italy missed out of the World Cup losing narrowly to Sweden

Meanwhile, for Italy, most analysts still believe that a World Cup without the four-time champions, will definitely have something missing from it.

Italy is a surprise, but shouldn’t surprise anyone because they were unlucky in the group stages, and in the play-off draws. First, they were drawn in the same group with Spain, and the Spanish had too much quality players not to qualify.

Secondly, in the play-offs, the Italians were pitted against Sweden, who finished second below France, but ahead of The Netherlands in Group A, of the UEFA zone qualifiers. A 1-0 aggregate scoreline in favour of the Swedes over two legs, prevented the Italians from reaching the World Cup for the first time since 1958.

Interestingly, the last time the Italians did not qualify for the World Cup 59 years ago, Sweden were the host.

That said, an aging squad, with majority of the members above 30 years and poor tactics also affected the Italians chances of going to Russia.

 

For the United States of America, failing to qualify to none other but a tournament in be hosted by Russia, is simply a bad idea for the media, and global politics. Can you imagine the sort of attention a world cup game between Russia and USA would have attracted?

“Theirs is the most surprising, because they have been rising to challenge Mexico in the North American region,” the analyst lamented. “They had risen so much that people thought they were now one of the tough teams in that region, so not qualifying is really a big surprise.”

Losing at home to both Mexico and Costa Rica, affected the USA’s chances of reaching the tournament in Russia; which would have added some bite to the competition, given the tense nature of current USA-Russia relations.

The USA which qualified for the last seven editions, failed to book a ticket this time around, after winning three out of 10 games against a group of CONCACAF nations. They needed at least a draw in their final qualifier against Trinidad and Tobago, but the game eventually ended in a 2-1 defeat.

“For me the USA failure is a major surprise, and I think it was because they were not patient with Jürgen Klinsmann. When he took over the team after the 2010 World Cup, the US started doing very well. In the last World Cup too, Klinsmann was able to qualify them from a group that had Ghana, Portugal and Germany.

But they sacked him, brought in Bruce Arena after he had lost two games in the qualifiers for next year’s tournament, and that is where I think their problems started from,” Mr. Dornu-Leiku explained.

Asked if the absence of these four teams would affect the tournament, Dornu-Leiku, said, “The USA has a very huge population and a lot of them would have trooped to Russia. You can imagine a World Cup without Italy too. They are four-time world champions, they are a big team that can spring a surprise anytime; so that will also affect the quality but the teams that have qualified are also equally good.

In Africa, Tunisia, Morocco and Egypt do not have a good record at the tournament. The truth is that they can’t go as far as Ghana, Nigeria or Cameroon have done in the past. So Africa’s strength will be reduced because Ghana always stands up for the continent.”

Potato Potatho to show in cinemas this November

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Shirley FrimpongManso’s ‘Potato Potahto’ an African marital comedy of errors, based in Ghana is set to show in cinemas from 30th November.

As directed by one of Africa’s best known female directors, Shirley Frimpong Manso, explained that the movie is named Potato Potatho which is, meaning the same thing but pronouncing it in different ways. In other words .a fun way of looking at things from different angle

“Potato Potahto” tells the story of a divorced couple whose plans to share their matrimonial home ended in chaos after the husband, Tony, brings in an attractive female house help. When his ex-wife, Lulu, then hires an attractive young man to help her out, a roller coaster ride of laughter, jealousy and tears ensues.

Speaking about the film, Shirley Frimpong-Manso, who wrote and directed the film said, “I just was wanted to write something fun and romantic and beautiful and also highlight some of the problems or issues that have been happening in our industry.”

“The soundtrack for the movie was recorded on three different continents and features recordings of Swedish, French, British, Ghanaian and Nigerian artists.” says co-producer Georges Williams.

The film has broken new ground with its Ghanaian, Nigerian, British, French and Swedish co-production aimed at making African-made cinema more accessible to global markets.

Starring the likes of OC Ukeje, Ghanaian actress and TV star Joselyn Dumas, and award winning Nollywood veteran Joke Silva, award winning Blossom Chukwujekwu, Chris Attoh, LalaAkindoju, Nikki Samonas, AdjeteyAnang and Victoria Micheals.

“Potato Potatho’s a fantastic showcase of how international co-operation, talent and creativity can combine to give a wonderful and universally attractive film experience.

The movie has and will be premiered in Durban, Nigeria on the 24th, South Africa on the 24th and Ghana on the 30th of this month.

Kwesé TV to Premiere TV One content following exclusive broadcast deal

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Dynamic pan-African satellite TV network Kwesé, part of Econet Media, has inked an exclusive broadcast deal which will see the addition of TV One content to its programming.

With a brand promise to represent the best of African American culture and entertainment – past, present and future, TV One content soon will be available to Kwesé TV viewers across the continent. The addition of TV One programming adds a broad range of real-life and entertainment-focused original programming, classic series and movies.

“We are always looking for fresh, rich and entertaining content to add to our line-up, thus the addition of TV One to our bouquet is great feat,” says Econet Media President and CEO, Joseph Hundah.

“The network’s compelling and distinctive programming will help broaden and strengthen the diversity of our international content offering. We are confident TV One’s high-quality and well-rounded content will captivate viewers across the continent.”

The three year partnership will see in excess of 25 of TV One’s most popular titles and series, including When Love Kills: The Falicia Blakely Story, Love Under New Management: The Mikki Howard Story, The Black List and sitcoms Born Again Virgin and  Love That Girl.

“We thank Kwesé for its partnership and commitment to offering their consumers an opportunity to experience the best in African American culture and entertainment,” says Michelle Rice, TV One’s Interim General Manager and EVP, Content Distribution and Marketing.

“We are delighted that Kwesé TV viewers will now have access to TV One’s robust slate of informative and entertaining original programming created with the urban audience in mind.”

Kwesé TV’s satellite service is currently available in Ghana, Zambia, Rwanda, Lesotho, Botswana, Kenya, Nigeria and Uganda with plans to expand the network across the continent.

Launched in January 2004, TV One serves 59 million households, offering a broad range of real-life and entertainment-focused original programming, classic series, movies and music designed to entertain and inform a diverse audience of adult black viewers. The network represents the best in black culture and entertainment with fan favorite shows Unsung, Rickey Smiley For Real, Fatal Attraction, and The NAACP Image Awards.

Framing love in acceptance: a review of Kwasi Kyei’s ‘Immanuel’

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To be Immanuel is to be as present as God. That was my takeaway from Kwasi Kyei’s recently ended exhibition, Immanuel. As striking as the works of art on display were, to me the exhibition spoke more to the structure and framework holding the art together.

The exhibition itself was framed within the aging walls of the Warehouse on Lokko Road here in Accra. It is a textured space that feels purposed for art, so within this space the exhibition felt right at home.

Immanuel represents so much in a single viewing. As I observed the panorama of images, I saw a study of the male form in all its aging glory. I saw solitude framed in acceptance. I saw chaos coexist with harmony; in that, a mixture of skilfully shot, diverse and divergent photos lay side by side on display, yet formed a seamless, beautiful montage.

I saw a bygone age framed in digital spec; as it struck me that some of the symbols and motifs captured in a number of the photos would seem pretty ancient to people alive today. And yet it has not been that long since the “norm” switched up on us.

If you have seen any of his work, you’ll agree that Kyei, a self-proclaimed minimalist, captures images that resound past an initial viewing. With Immanuel, he curates a rugged collage of images that are individually mesmerising but together feel quite disjointed, almost chaotically so.

However, I found this to be a major draw as my curiosity was piqued to explore what the exhibition sought to reveal beyond the imagery served from individual pieces of art. What I found was the spirit within which these photographs are framed; a sense of finding self-acceptance through the experience of unconditional love. It is something that feels like context, yet still out of reach enough to leave you unsure.

To comprehend this, one needs to understand the literal context of the exhibition. Named after the eponymous Immanuel, a real figure in Kyei’s life that has clearly had a great deal of impact on his life, it was interesting to find only two photos of Immanuel out of ten on display. One with his eyes closed the other with his eyes open.

Speaking to Kyei, he referenced the Biblical meaning of Immanuel; God with us. Kyei spoke about feeling God’s presence; he alluded to a settling peace that kept him from going over the edge. He spoke about a spiritual connection that I know of all too well. This spiritual awakening, and by extension the spirit of the exhibition, is framed in one simple name; Immanuel.

In him we find an example of those of us humans who are truly able to occupy almost divine space. Not because they are perfect, but because they simply are. If we are lucky, we may meet someone like this in our lifetime. Someone who brings us balance without holding that power over our heads or holding our hearts to ransom. Those people who come with waves of joy and leave in peace. Every moment with them feels like the ascension of one’s spirit and in their presence we learn to love and accept ourselves.

Therefore it makes complete sense to me that Immanuel was only featured twice. In keeping with the metaphor, true believers would expect that God’s presence does not need to be overemphasised. God is omnipresent with a presence that is felt when most needed. The same is true with Immanuel, whose presence filled a room he was barely visibly present in and whose impact framed an entire presentation of art.

For me, Immanuel affirmed my belief that there are people among us who embody the very things we seek in houses of worship every week. It was moving to see this reality captured within such a carefully disjointed and still seamlessly meshed exhibition.

I am here for the representation of Kyei’s personal truth. From what I gathered in my interview with him, it would seem that another human, probably imperfect in many ways, inspired him to find love in the things that surround him and perhaps more critically in himself. As a result of that drive, we were blessed with what I hope is the first of many exhibitions from Kyei.

First-ever breast cancer patient journey study in sub-Saharan Africa

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Roche has presented the study design for the first-ever breast cancer patient journey study in sub-Saharan Africa (SSA) at the African Organisation for Research and Training in Cancer (AORTIC) congress in Kigali, Rwanda.

The study aims to describe the typical breast cancer patient journey, as well as to assess resource use, cost, and other hurdles influencing patient care in public and private hospitals in Kenya, Nigeria and Ghana.

The data will provide insight into the challenges of addressing the full spectrum of breast cancer patient care in SSA, and help identify what solutions are needed at multiple points in the patient journey. Full study data will be available in 2018.

Despite advances in management, breast cancer remains the leading cause of cancer death among women worldwide.

The burden of breast cancer disproportionately affects African countries with 5-year survival rates as low as 12percent in parts of Africa, compared with almost 90percent in the United States, Australia and Canada. In addition, as many as 80 percent of patients in SSA are diagnosed with late-to-end stage disease when very little can be achieved in terms of curative treatment.

Limited resources also adversely impact access to care, resulting in sub-optimal management, high morbidity and mortality. This often places breast cancer patients and their families at risk of financial hardship. Lack of financial burden data is a major obstacle to developing policies for cancer care in lower middle-income countries.

Study Design

The study will assess delays to patient care, including the delays to initiating standard of care testing (mammography, MRI, ER, HER2, chest x-ray) and to receiving these test results, as well as delays to initiation of standard of care treatment (neoadjuvant chemotherapy, breast surgery, mastectomy, biologic treatment).

Notably, the study will also assess direct cost to patients, including how many pay for their cancer care out of pocket and how many are unable to complete treatment for cost reasons.

The study is a retrospective chart review conducted in three public and three private hospitals in each country, including Ghana, Kenya and Nigeria. The study aims to obtain a comprehensive two-year sample of up to 1000 anonymised patient records across all study sites.

A panel of local healthcare providers will also provide qualitative information on breast cancer management to corroborate findings from quantitative analyses, and provide further contextual insights.

Update on Roche efforts in Sub-Saharan Africa

In sub-Saharan Africa, Roche aims to improve every step of a patient’s journey by removing barriers to access quality healthcare from diagnosis through treatment.

The company develops comprehensive and sustainable programs that are tailored to the specific needs of each country. Ensuring these patients have access to innovative medicines is accomplished through partnerships with key stakeholders such as governments, who share a long-term view for investment in healthcare infrastructure.

“We believe that patients in sub-Saharan Africa deserve the same treatment as everyone else,” said Markus Gemuend, Head, Sub-Saharan Africa, Roche. “When we work with partners with a genuine will to make a difference for patients is when real impact can happen.”

Key progress from 2017 includes:

In East Africa, a partnership between Roche and the Kenya Ministry of Health includes a comprehensive access program that now supports women with access to breast cancer care.

The program includes screening, state-of-the art diagnostics, healthcare infrastructure building, including the training of new oncologists and oncology nurses, and access to innovative medicine for breast cancer – all free of charge to the patient. A similar program in Sudan has also commenced.

In French West Africa, significant progress has been made to broaden access in multiple countries. Notably, in Côte d’Ivoire, a landmark agreement with the Ministry of Health now includes access to three innovative cancer medicines with Roche and the government covering the costs of the medicines for patients.

New agreements have also been signed this year in Burkina Faso and Republic of Congo. While these are in the early stages, they are important first steps for patients in these countries.

In Nigeria, partnerships with sixoncology centers of excellence across the country are now in place to facilitate access to care for breast cancer patients and increase the chances patients will start and complete treatment.

Patrick Awuah: the man with just US$50 and a vision to transform education

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Patrick Awuah left Ghana in 1985 with just US$50 in his pocket and a full scholarship to Swarthmore College, in Pennsylvania, the United States.

When he came back a decade and a half later, quitting a lucrative job with Microsoft, with ideas to set up a world class educational institution that will train the future leaders of the country, he did not foresee the challenges he met in establishing Ashesi University.

With determination and perseverance, Mr. Awuah, who started with 30 students in a rented property in Labone, Accra, in 2002, now has over a 1,000 students under his care in Brekuso, an hour’s drive from Accra, in the Eastern Region.

Having gained a reputation for innovation and quality education in Ghana, Ashesi has united traditional design, modern technology and environmental best practices – creating an inspiring base for young Africans from diverse backgrounds to live, collaborate and study together for generations to come.

Mr. Awuah was recently presented the prestigious WISE Prize for Education. Sheikha Mozabint Nasser, Chairperson of Qatar Foundation, presented the Prize to Mr. Awuah at the opening plenary session of the eighth World Innovation Summit for Education in Doha, Qatar, before an audience of 2,000 participants from 100 countries.

The WISE Prize for Education is the first distinction of its kind to recognize an individual or a team of up to six people for an outstanding, world-class contribution to education. The Laureate receives the WISE Prize for Education gold medal, and US$500,000.

Stavros N. Yiannouka, the CEO of WISE said: “I am pleased to welcome Patrick Awuah as the sixth WISE Prize for Education Laureate. He joins a distinguished group of individuals who share a passion for empowerment through education. The WISE Prize Laureates have recognized needs that challenged them to action. Each has blazed a path in engaging and enrolling others in a vision.

Patrick Awuah’s story is unique in his awakening to the role of renewed ethical leadership in social transformation, particularly in Africa. Ashesi University College, under his guidance, builds varied contemporary curricula on the pillars of liberal arts.

He recognized that the tools for acquiring and interpreting knowledge are at least as important as the knowledge itself. In placing leadership at the core of his commitment, Patrick Awuah stands as a model for all of us who are dedicated to empowerment through education.”

Patrick Awuah is well-known for his dedication to supporting education in Ghana and across Africa. Every Ashesi University College graduate has found quality employment, and almost all have remained in Africa, where many have started much-needed businesses. Patrick Awuah’s innovation in higher education is not only empowering students; it also has the potential to transform Ghana and other African nations by developing a new generation of leaders and entrepreneurs.

After leaving Ghana in 1985 to the United States to study, he benefited from the liberal arts education from Swarthmore College, in Pennsylvania, which showed him the power of critical thinking, a stark contrast to his prior schooling.

After graduating, Patrick Awuah had a very successful career at Microsoft where he spearheaded design for dial-up Internet access. Keen to make a difference in his own country, he returned to Ghana, intending to start a software company.

Arriving back in Ghana, Patrick Awuah quickly understood that fostering ethical leadership would be key to building a generation that is able to bring positive change in Africa. He decided to go back to study, this time to the University of California, Berkeley, to understand what it takes to start a university that would foster leadership and integrity.

Patrick Awuah said: “I decided to create a new university in Ghana not because of a lack of universities in my country, but a lack of universities teaching 21st century skills. There was too much emphasis on rote learning and memorization, much less on critical or independent thinking, ethics or collaboration. I decided to open a university that would offer young Ghanaians and Africans the opportunity to excel and become problem solvers – the next leaders of Africa.”

Ashesi University College offers four-year bachelor degrees in engineering, business administration, computer science and management information systems. The degree is based upon an interdisciplinary curriculum with a continual emphasis on leadership, ethics and entrepreneurship. Before graduating, all students engage in community service.

Ashesi University College places an emphasis on cultural, economic, and gender diversity with 50percent of the students on full or partial scholarships. Half of students are women and over 20 countries are represented on the campus. Additionally, in 2008, Ashesi University College students established an honor code, holding themselves responsible for ethical behavior, the first of its kind in African universities.

On receiving the WISE Prize, Patrick Awuah said: “I am honored to receive the WISE Prize for Education. This is a crucial moment for Africa – today, one out of six people on earth live in Africa, and this is set to rise to one in four by 2050. We urgently need to boost the education system in Africa to ensure we can tap into this shift to strengthen the continent.

Winning the WISE Prize will support the work we are already doing at Ashesi University College to inspire and educate, and build a community of people who can navigate the complexities of Africa’s growth and set an example for the rest of the world.”

He has won many prestigious international awards including the MacArthur Fellowship; the McNulty Prize; and Membership of the Order of the Volta — one of Ghana’s highest awards, given to individuals who exemplify the ideal of service to the country. In 2015, Patrick was named one of the World’s 50 Greatest Leaders by Fortune, and received the Elise and Walter A. Haas International Award, given to UC Berkeley alumni with distinguished records of service to their countries.

Patrick served on the Advisory Committee on Voluntary Foreign Aid (ACVFA) of the U.S. Agency for International Development from 2010 to 2016. He is a Fellow of the Africa Leadership Initiative of the Aspen Global Leadership Network; a member of the Council on Foreign Relations; and a member of the Tau Beta Pi honor society for excellence in engineering.

In 2012, Ashesi University was ranked as one of the top ten Most Respected Companies in Ghana, and was the first educational institution to win the award. In the same survey, Patrick Awuah was named the 4th Most Respected CEO in Ghana.

Talent not enough for entrepreneurship, honesty is key – Joe Mettle

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Gospel Musician and VGMA 2017 Artiste of the year, Joe Mettle, has stated emphatically that being honest in your dealings with clients is the only key to sustaining entrepreneurial businesses in Africa.

“You need to prove your mettle. Honesty is hard work. As aspiring entrepreneurs, you need to recognize that your honesty to your ideas, clients and associates will give you a good reputation.

Your entrepreneurial drive is not enough. Your talent is not enough. Your stellar ideas are definitely not enough if you are not honest. You need to deliberately develop honesty as value addition to your ideas. Be honest and be consistent. It will sell your product more,” he said.

He was speaking as a guest speaker at the 2017 matriculation ceremony of the Pentecost University College (PUC), which was under the theme: “Enhancing Graduate Employability: The Entrepreneurial Agenda”.

According to Mr. Mettle, the level of competition in the area of businesses in the world today does not afford the opportunity to simply have a great idea and become successful overnight.

Joe Mettle noted that if the ever-widening skills gap between Africa and the rest of the world is anything to go by, the higher educational institutions in Africa have no choice but to buy into this agenda of enhancing graduate employability through enterprise education. He said this will enable Africa keep pace with the changing skills in labour force and allow effective competition globally.

He urged the matriculants to appreciate that entrepreneurship has assumed multiplicity of dimensions. He further suggested to the authorities of PUC to forge more collaboration between educational institutions and industry to enhance graduate employability.

Joe, who is an old student of the University, was also honoured as the Alumnus of the Year 2017 for the outstanding impact he is making in Ghana and across the world. In attendance was the University’s Council and also the Chairman of the Church of Pentecost worldwide, Apostle Professor Opoku Onyinah.

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