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IFC, Africa Re develop index products to increase access to finance for farmers

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IFC, a member of the World Bank Group, and Africa Reinsurance Corporation has supported a two-day technical workshop on risk modelling and strategic decision-making for index insurance products.

James Seward, Practice Manager for the World Bank Group’s Finance and Markets Global Practice, Africa region, said, the agriculture sector is a critical part of most economies in Africa and protecting farmers and that agribusinesses from weather-related risks is critical, especially as the impacts of climate change become more pronounced.

“Mitigating weather-related risks is also an important precondition to providing credit, stimulating investment in farming, and increasing productivity among smallholder farmers in Sub-Saharan Africa. High level training helps develop the skills to create new and innovative index-based insurance products in the regional market, which in turn will increase insurance penetration to rural and low-income markets in Africa,” he said.

Most of the agricultural land in Sub-Saharan Africa is rain fed, and many regions are vulnerable to climate shocks such as drought, flooding, and irregular rainfall. To limit their losses in any given year, smallholder farmers often invest very little into their land, which leads to reduced yields and contributes to food insecurity.

Insurance can be a good risk management tool for these smallholder farmers, but the traditional insurance market largely fails to meet their demand for affordable insurance. Index insurance provides an innovative and more efficient solution for these farmers to protect their crops against losses and encourage investment.

The workshop was delivered by the Global Index Insurance Facility, a multi-donor trust fund implemented by the World Bank Group. It works to provide access to finance to smallholder farmers, micro entrepreneurs, and microfinance institutions.

In all, it brought together 12 Insurance Regulators and 29 CEOs from major insurance companies in Sub-Saharan Africa, and will be followed by a week-long training on index insurance for insurance companies’ technical staff.

Source: thebftonline.com/Ghana

Allianz Ghana makes underwriting easier for brokers

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In the quest for making underwriting easy for insurance brokers in the country, Allianz Ghana has deployed an online underwriting tool dubbed: “Partner Platform” into the market.

The Partner Platform is an exclusive online underwriting tool designed by Allianz to enable Ghana Insurance Brokers Association (GIBA) members’ underwrite policies directly.

Martin Amoah, Deputy Managing Director, Allianz Ghana, introduced the “Partner Platform” at an interactive event in Accra last week.

Mr. Amoah revealed that Allianz Ghana is committed to making the job of brokers simple, and that the company will continue to seek innovative ways of growing its operations and the insurance industry as a whole.

He pointed out that Allianz has rolled out attractive incentive packages to enable brokers earn extra income in addition to their commissions.

“We are open to giving our broking partners underwriting privileges to enable them serve their clients with speed”, Amoah added.

Commenting on the role of technology, he explained that Allianz Ghana has deployed their main underwriting tool “The Archipel” to help their partners operate with ease.

“More importantly too, the company is also in the process of commissioning a new platform for its intermediaries which will enable them issue simple policies like motor and home from their offices,” he disclosed.

Naa Adjeley Hylton-Dei, Head – Broker Department, said technology has become an integral part of commerce, with a lot of organisations employing technological platforms to provide seamless services to their clients, from start to finish.

The insurance industry, she said, however, has been slow to catch up with this trend, even though great opportunities exist for insurers and other stakeholders through the use of technology.

The Head of the Broker Department further disclosed that it is for reason that Allianz Ghana has come up with the platform to enable a seamless process for intermediaries to underwrite simple insurance policies from any location, adding: “All that is required is a smartphone, tablet or a computer,”

“The tool can be used offline and online” she noted.

Source: thebftonline.com/Ghana

Insurance broking firms on the rise

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More insurance broking firms have entered in Ghana’s insurance industry’s landscape in 2016.

The number has increased from about 65 to 85 in 2017. Last year about 10 broking companies were given operational license to start business in the country.

These companies include Anchor Premier Brokerage Ltd located at the Procurement agency building in Kokomlemle, Byllwych Insurance Brokers Ltd, Ideal Insurance Brokers and Insurance Management Service Ltd.

The rest are Risk Management Ltd, K&A Insurance Brokers Ltd, Pacific Insurance Brokers Ltd, Risk Partners Ltd, Strategic Insurance Consult, Supreme Trust Insurance Brokers and Worldwide Insurance Brokers Ltd.

However, thebftonline.com learnt that out of these numbers, only four companies are officially registered with the Ghana Insurance Brokers Association (GIBA). These Companies are Anchor Premier Brokerage Ltd, Byllwych Insurance Brokers, Ideal Insurance Brokers and Risk Partners Ltd.

B&FT was also told that after the operational licenses have been approved and issued by the regulatory authority, NIC, new companies are always advised by the approving authority through a letter to join the trade association, but on several occasions, these companies do not heed to the advice.

Indeed, by the close of last week, only about 67 companies are officially registered with GIBA, which is the umbrella body of all broking firms in the country. So far, the official list in the possession of thebftonline.com shows that, only Akoto Risk Management Ltd, Allied Insurance Brokers Ltd, All Risk Consultancy Ltd, All Star Insurance Brokers Ltd, Alpha Insurance Brokers Ltd, Anchor Premier Brokerage Ltd, Apex Insurance Brokers Ltd, ARB Insurance Brokers Ltd, ARK Insurance Brokers Ltd, Arrow Class Insurance Brokers Ltd.

Others are, Ascoma Ghana Ltd, Asterix Brokers Ltd, Baobab Brokers Ltd, Boaitey & Associates Ltd, Byllwych Insurance Brokers Ltd, Cardinal Insurance Brokers Ltd, Ceris International Ltd, Claim limited, Corporate Trust Insurance Brokers Ltd, Crown Insurance Brokers Ltd, Danniads Limited, Dezag Insurance Brokers Ltd, Double D&M Brokers Ltd, Dynamic Insurance Brokers Ltd, Edward Mensah Wood and Associates Ltd, Felin Insurance Brokers Ltd, First Anchor Risk Mgt Ltd, Functions Risk Management Ltd, GBL Insurance Brokers Ltd, Ghana International Insurance Brokers Ltd, Global Impact Insurance Brokers Ltd.

The rest include, Horizon Insurance Brokers Ltd, I Am Loss Adjusters & Surveyors Gh. Ltd, Ideal Insurance Brokers Ltd, Insurance Center of Excellence Ltd, Insurance Consultancies International Ltd, Insurance Solutions Ltd, Inter-Africa Brokers Ltd, Kav Insurance Brokers Ltd, KEK Insurance Brokers Ltd, Liberty Insurance Brokers Ltd, Lordship Insurance Brokers Ltd, Marine & General Brokers Ltd, Maxpal Insurance brokers Ltd, Metrix Insurance Brokers Ltd, Midas Insurance Brokers Ltd, Multinational Insurance Brokers Ltd, Novelty Insurance Brokers ltd, NDL Insurance Consult Ltd, Premier Brokers & Consult Ltd, Progressive Insurance Services Ltd, Prudent Insurance brokers Ltd, Riscovery Limited, Risk Management % Advisory Services Ltd, Risk Partners Ltd, Safeguard Insurance Brokers Ltd, Safety insurance Brokers Ltd, Saviour Insurance Brokers Ltd.

Shield Insurance & Risk Management Co. Ltd, Trans-National Insurance Brokers Ltd, Trinity Insurance Brokers Ltd, Tri-Star Insurance Services Ltd, Ungroup Limited, Universal Insurance Consultants Ltd, Visal Insurance Brokers Ltd, Wills Towers Watson

Source: Norvan Acquah – Hayford/thebftonline.com/Ghana

Gold Fields celebrates Malaria Day

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Robert Siaw, Sustainable Development Manager, Gold Fields Ghana Limited has said  that intensive awareness creation on malaria prevention is critical to the health of the individual and the nation’s economy.

Therefore, he said there is the need for sustainable commitment on malaria prevention by individuals, households, churches, mosques, organisations among others to bring it to the barest minimum.

Mr. Siaw was speaking at the 2017 World Malaria Day durbar at Samahu in the Tarkwa-Nsuaem Municipality in the Western Region on the theme “End malaria for good”.

He indicated that malaria, has a negative effect on the economy-work output is reduced, income levels becomes low as well as result in poverty since the individual affected by malaria cannot work.

In Ghana, he said and for most parts of Africa, malaria continues to be the number one out-patient department reported illness and it can be deadly.

“If we are going to win the fight against malaria, then we must all change our behavior towards the little things that we do to facilitate the breeding of mosquito – we will continue to work with institutions and civil society groups to reduce malaria incidence in our communities” he said.

He said for three consecutive years, Gold Fields have marked the day with different forms of activities -as part of this durbar, there is going to be malaria quiz competition for schools in our host communities mostly within the Prestea Huni Valley District.

“Gold Fields will give out 750 long lasting Insecticide Treated Nets estimated at a cost of GH¢21,525.00 to community members and some school children” Mr. Siaw mentioned.

He added that prevention is a critical strategy for reducing the toll of malaria- a disease that continues to kill more people, one of the effective and cheaper ways of preventing malaria is sleeping under bed nets each night.

Dr. Ishmael Sackey, Manager Health Services of Gold Fields Ghana Limited said it is possible to eradicate malaria in the country – this can be done by cleaning our environment as well as sleeping in the Insecticide Treated Net.

He mentioned severe headache, jaundice loss of appetite among others as some of the symptoms of malaria -children under age five and pregnant women are mostly affected by malaria.

“I will encourage all to sleep in the net and those who work at night should use mosquito repellant to help prevent malaria” he said.

Source: Juliet Aguiar Dugbartey/thebftonline.com/Ghana

Trading sex for galamsey!

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Curbing a very frustrating illegal mining (Galamsey) battle against Chinese nationals has been inextricably linked to secret recordings by one powerful Chinese woman. She is said to hold video recording of sexual escapades of some politicians with threats of blackmailing. Abdul Malik Kwaku Baaku made the startling revelation on Joy Newsfile.

Kwaku Baako said, “some Chinese ladies secretly recorded their sexual encounters with influential people and in some cases, brought some young Chinese women who slept with the big men and collected evidence which is now being used to blackmail them.”

He (Baako) added that, one Chinese lady, Asia Huang, popularly known as Aisha has been notorious for her illegal mining activities at Bepotenten in the Ashanti Region. Despite the ban, some Chinese nationals were recently caught working with impunity for her

The whole news is sickening because galamsey is labeled as one of the most destructive factors undermining the protection of our green environment, coupled with the contamination of water bodies through the use of chemicals like Mercury to wash the metal.

Over the time period our leaders have been so weak. We have allowed foreigners to exploit our society by assuming positions or power through outright bribery or connections.

The whole sordid has hit Ghanaians all over. We should by now be talking about total eradication of galamsey but sadly Ghanaian watchdogs are caught up in blackmail instead. If the story is true, our leaders have let us down. This is not the first time that the corrupt attitude of our citizenry has hit the headlines.

But the behavior of these alleged ‘big men’ should raise serious concerns over the kind of people we call as authority. It is disgraceful and something has to be done about it. The news of blackmail is total humiliation.

Kwaku Baako isn’t a fringe lunatic talking sex blackmail but a recognized established media personnel. Revealing such disgusting sexual escapades and abuse accusations needs much to be desired.

We are witnessing a serious progressive decline in leadership. Our leaders have heavily indebted our country but we have little to show for it. The poor are poor, marginalized and humiliated therefore; the Chinese galamsey insurgents are taking hold of it.

It is why the Chinese – Aisha, could encroach 35 acres of Volta Resources Limited to extract $1.5 million dollars of gold and it becomes no ones business.

The critical issue brought up by Kwaku Baako and exposure of certain people we find in some privilege positions must be addressed quickly. We need those who can defend the population interest, based on unwavering respect for our state institutions.

The last person we entrust to save Ghana from this sham and disastrous menace is President Nana Akufo Addo. He is presently in a position to perform a service to humanity that others failed.

The Chinese women have achieved their strategic objective behind the crime of prostitution to record vulnerable unzipped purposeless leaders who have given away our future ecology for fear of sexual exposure.

In short, Nana Addo’s war on galamsey is a necessary measure that must be taken before the country plunges completely into laughable failed state taking over by Chinese illegal miners and blackmailers.

Source: thebftonline.com l Ghana

Anglogold Ashanti cut sod for a health center

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Anglogold Ashanti Iduapriem Community Trust Fund has cut the sod for the construction of a GHc600.000 Health Care Center for Wangarakrom and its environs to improve health care delivery.

The project will be executed by Festmens Engineering Construction Limited, a local contractor from May-December this year, will benefit Wangarakrom, Badukrom and Nkyemia communities.

Mr.  Samuel Noi, Acting Managing Director Iduapriem Gold Mine at the sod cutting ceremony at Wangarakrom in the Tarkwa-Nsuaem Municipality in the Western Region explained that community members have to travel several kilometers to access basic health care.

“The distance that one needs to travel sometimes by foot due to the bad nature of the roads have several impacts on health care delivery do not help – community members who fall sick fall on traditional medicines, street drug vendor among others with all their associated health implications” he said.

According to him, community members wrote to Anglogold Ashanti Iduapriem Community Trust Fund for support in the construction of a standard facility aimed at improving health care delivery in the catchment area.

He said upon several reviews by the steering committee in consultation with Municipal Health Directorate recommended proposal on the health center for approval by the board of directors.

Prof.  Newton Amegbey, Board Chairman of Iduapriem Community Trust Fund said health care delivery continues to remain paramount world over -this facility, is one of the interventions under the Integrated Health Project, aimed at increasing access to health care delivery in the mine’s host communities.

He said already, the community in collaboration with the Municipal Health Directorate have rented two-bedroom facility in the community to house some health personnel and also serve as Community Health Planning Service Center.

This facility, he explained is basically used for first aid at improving health care delivery in the catchment area – the project is expected to be completed and handed over to the beneficiaries through the Municipal Health Directorate by December 2017” he said.

Mr.  Emmanuel Affelkum, Tarkwa-Nsuaem Municipal Director of Health Services noted that health is important to the development of the community in which the mine operate.

He assured the community that after the project, physicians, nurses and all the human resource needed will be brought to the health center to ensure efficient health care delivery at all times.

Gyasehene of Apinto Stool, Dr. Nana Adarkwa Bediako II commended the mine for supporting in education, health and transport of the communities in which it’s operate.

He encouraged the members of the community to ensure maintenance and sustainability of the project when completed – we must appreciate what the companies operating in our communities are doing and that we should protect the interest of the mine.

He encouraged the mine to support in the tarring of the road leading to the project site to ensure accessibility for community.

Source: Juliet Aguiar Dugbartey/thebftonline.com/Ghana

Shippers’ Awards gets backing from industry regulator

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The Ghana Shippers Awards, a few months after its launch has received tremendous participation of key stakeholders, companies and respected individuals within the shipping industry.

The awards ceremony is scheduled to come off on 30th June, 2017 at the Movenpick Ambassador Hotel, Accra.

Notable and most recent to this endorsement is the partnership with the Ghana Shippers’ Authority, an agency of the Ministry of Transport mandated by the laws of Ghana to effectively and efficiently manage Ghana’s commercial shipping and to protect and promote the interest of shippers in relation to international trade and transport logistics.

A letter from the Ghana Shippers Authority signed by Deputy Chief Executive Officer, Sylvia Asana Owu, states that “with reference to your letter dated 30th March, 2017, we write to endorse the Ghana Shippers Awards and also partner you in organizing the Ghana Shippers Awards.

We are by this letter requesting for the postponement of the awards to allow a team of technical experts to support the selection process to ensure the credibility of the awards and also have the awards meet the international standards for an important industry like ours.

Ghana Shippers Authority admires your effort in awarding the industry and appreciates the input made by you so far in this regard.”

Speaking to a member of the awarding board of Ghana Shippers Awards on the new development and the postponement of the Awards, Michael Luguje, said: “in as much as we are sorry for the inconvenience caused with the postponement, we will like to reiterate that the postponement will to a large extent inure to the benefit of the industry and create a sustainable event annually supported by the industry regulator. He also emphasized that all nominations submitted are still valid.”

The awards cut across road transportations, ocean carriers, air transportation, freight forwarding, shipping agents, express services, courier agencies, government agencies, insurance, financial institutions and more.

Organisations that have submitted their nominations so far include OmniBank Ghana Limited, Benmarine Offshore Service limited, Jonmoore International, Guaranty Trust Bank (Ghana) Limited , APM Terminals Ghana Ltd, Freight Masters Shipping Agency Ltd, Apm Terminals Ghana Limited, and Achievers Logistics Ghana.

Others are Global Cargo & Commodities Limited, Transglobal Logistics Ltd, Bluchip Logistics Ltd, Logical Maritime Services Limited, Star Assurance Company Limited, Consolidated Shipping Agencies Limited, Apex Shipping & Commercial Co. Ltd, Mcdan Shipping Company Ltd, Mtg Ltd, Delexes Company Limited, and BajFreight And Logistics Ltd.

The rest are Fendercare Marine Ghana Ltd, Gmt Shipping Ghana Ltd, Eagle Express Limited, Air Ghana Ltd, Acs Africa Coastal Services Ghana Ltd, Sevenlog Limited, Ghana Airports Company Limited, Amaris Terminal Limited, Graphic Communications Group Limited, West Blue Consulting, and Kingdom Exim Ghana Ltd.

The final list include Damco Logistics Ghana Limited, Borderless Alliance (West Africa) , Sea And Shore Services Gh Ltd , Flat C Marine Offshore Limited, Grimaldi Ghana Limited, UT Logistics, Ghana Community Network Services (GCNET), Aramex Ghana Limited, Tv3 Network Limited and many more.

The Ghana Shippers Awards which seeks to recognize distinctions in the field, and also to promote the interests of the industry – nationally and internationally is being organized by Globe Productions in partnership with Graphic Business.

Source: thebftonline.com/Ghana

Tullow to boost TEN field output once maritime dispute resolved

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Tullow Oil plans to drill new wells and boost output at its TEN field off the coast of Ghana to 80,000 barrels per day (bpd) once a maritime border dispute with Ivory Coast is resolved, the company said on Wednesday.

The London-listed company will also invest in exploring for new reserves off Ghana, in addition to its Jubilee and TEN fields, its Ghana head Charles Darku said.

Ghana filed a suit at the International Tribunal for the Law of the Sea in 2014 to resolve a dispute with Ivory Coast over their border in waters close to the oil fields after 10 bilateral meetings failed to find a solution.

A year later, the Tribunal gave an interim ruling that Ghana could continue developing offshore projects in the disputed area, but it imposed a ban on new drilling. The Tribunal is set to rule on the dispute in the coming months.

“We are looking to the Ghana government to reach a resolution on that to enable us immediately to resume drilling new wells as planned in order to boost production to the plateau of 80,000 bpd,” Darku told local shareholders in Accra.

The offshore TEN field, comprising the Tweneboa, Enyenra, Ntomme blocks, produced its first oil in August last year and the partners say they need to drill at least six more wells for the field to reach its full potential.

Production at Ghana’s flagship offshore Jubilee field, which began in late 2010, stands at about 100,000 bpd, Darku said

Tullow Chief Executive Paul McDade said plans to permanently fix a damaged turret bearing on Jubilee’s production vessel, which resulted in a weeks-long shutdown last year, would be executed by the end of this year.

“That is just an engineering problem that we’re resolving in phases … At the moment, we’re engineering a permanent solution under the second phase … and our expectation is that work will be executed toward the end of this year,” he told Reuters.

McDade said one task was to ensure minimal production disruption as the project expands and new wells are drilled.

Ghana, which also exports cocoa and gold, is hoping to use increased oil and gas output to boost its gross domestic product and create jobs.

Reuters

Transit trade to slow following Yapei bridge closure

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The closure of the Yapei Steel Bridge in the Central Gonja District of the Northern Region for 30 days for maintenance works is expected to adversely affect transit trade on that corridor.

The 240-metre bridge over the White Volta is the only convenient route that links the north to the south of the country, as well as linking Ghana with its neighboring countries including Burkina Faso, Mali, and Niger.

The month-long closure is expected to force trucks to use other longer alternative routes that will impact on their ability to cart large volumes within the period.

The three landlocked countries are significant transit trade partners of Ghana. Total transit volume for the three landlocked countries amounted to 695,000metric tonnes for the first quarter of 2016. This represents a rise of 12.3 percent compared to the same period 2015.

The transit trade comprises imports of 659,144mt and exports of 36,334mt. Major transit trade commodities include lubricating oil, processed foods/beverages, and bagged fertilizer.

While Ghana imports fresh tomatoes and livestock from its northern neighbours through the Yapei route, the three landlocked countries import variety of products from Europe and Asia via Ghana and cart them on trucks through Yapei to Ouagadougou, Bamako and Niamey.

The countries also imported finished products and salt, among others, from Ghana for domestic and industrial use.

The Minister of Roads and Highways, Kwasi Amoako Atta, after a tour of the Yapei Steel Bridge said: “If we don’t take care and continue to embark on maintenance, the road network will be halted to vehicular movement that will affect productivity of the country,” he said.

He said only vehicles weighing up to 20 tons will be allowed to cross the bridge during the maintenance period. After the repair works, vehicles weighing up to 60 tons, not more, will then be allowed to use the bridge.

He stressed that the Maintenance Unit and the Director of Bridges of Ghana Highways Authority (GHA) have been tasked to conduct survey on the various bridges across the country to ascertain the state of all bridges.

“It is our duty to ensure that both vehicular and human movement on our roads is safe to go about their business activities,” he said.

The project manager at the Maintenance Unit of GHA, Mr. Aminu Abubakar, said the logistics, materials and the labour for the maintenance works on the Yapei Bridge are ready to enable the work to be completed on time.

He said the unit detected 19 joints cutting of which four of them were repaired last two years with weak knots and rusty metals that needed to be replaced.

Touching on the state of the bridge, he noted that authorities must work at reducing the load allowed on the Bridge.

He said the bridge needed complete replacement adding that the maintenance cannot assure its sustainability. He assured the Minister and his entourage that due diligence will be done to ensure quality work.

Source: Samuel Sam/theftonline.com/Ghana

Cyber security must receive sufficient board level and government support

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With our society becoming more dependent on technology and digital interconnectivity, cybercrime poses a whole new set of threats, risks and dangers to individuals, businesses and the society at large.

As part of efforts to combat this growing problem, there is an urgent need for board level support for the development and implementation of the right framework for preventing and combating cyber risks. This was elucidated by Atul Gupta (KPMG Global Cyber Security Lead, High Growth Markets) at the ‘2017 KPMG Africa Cyber Security Conference’ held at the Eko Hotels and Suites in Lagos.

According to Mr. Gupta, “a key imperative from the board governance perspective should be the identification of critical assets and the development of a plan for protecting them. It is also important to have a proactive approach for identifying new cyber threats and risks”.

The KPMG Africa Cyber Security Conference, themed ‘Security and Resilience in a Digital World’, was attended by hundreds of cyber security enthusiasts and representatives from different sectors. Speakers and panelists included leading cyber security experts from several countries including Nigeria, Ghana, Kenya, South Africa, India and Israel.

The conference presented an interactive forum for stakeholders to discuss the increasing risk and occurrence of cyber threats; and provided an opportunity for them to share their recommendations for individuals and companies to stay a step ahead of cyber threats by implementing the right cyber defense framework.

Presentations and panel discussions at the forum centered on important cyber security topics such as ‘Cyber in the Boardroom: Helping Boards Meet Their Responsibilities Regarding Cyber Security & Resilience’ and ‘Addressing the Skills Gap in Cyber Security’. There were also demo sessions by leading cyber security solution vendors, including SailPoint, CyberArk, Minereye, Microsoft, CheckPoint, and TrapX.

In his welcome address, Joseph Tegbe (Partner & Head, Technology Advisory & Markets, KPMG in Nigeria and Lead, Africa Cyber Security) explained that KPMG considered it imperative to hold this conference to bring to the fore increasing cyber risks that individuals and organizations are exposed to in an expanding digital frontier and economic space.

He also stressed the important role that   governments, company boards and management should play in bridging the skills gaps in the cyber security space.

In particular, he was keen to assert the importance of elevating the subject to be considered as a business risk rather than limiting it as a technology play.

Delivering the event’s keynote address, Dr. Kate Getao, ICT Secretary in the Ministry of Information Communication and Technology of Kenya, observed that African governments are already faced with the task of governing key social interactions, personally identifiable information (PII) and financial transactions which are mostly digital.

She also stressed the need for governments in Africa to study and conduct research on Cyber Security and its influence on society whiles building capacity in this space to be adequately equipped to oversee the increasing digital landscape.

Other notable speakers, moderators and panelists at the Conference included Andy Akoto (Partner and Head of Risk Consulting, KPMG in Ghana), Sam Aluko (Senior Manager, IT Advisory, KPMG in Ghana), Sylvester Apedoe (Head of Information Technology, Universal Merchant Bank, Ghana), Senyo Hadzor (Network Information Security Specialist, Vodafone, Ghana), Rakiya Mohammed (Chief Information Security Officer, Central Bank of Nigeria), Bharat Soni (CISO & Group Head, Information Security Group, GTB Plc., Nigeria), Chidinma Iwe (Chief Information Security Officer, MainOne), Peter Hunter (Territory Manager, Africa, SailPoint Technologies), Itay Kozuch (Lead, Cyber Defense Services, KPMG in Israel) and Isa Ali Ibrahim (DG, National Information Technology Development Agency, Nigeria).

Victor Onyenkpa (COO of KPMG in Nigeria) launched the 2017 KPMG Africa Cyber Security Publication titled, ‘Security and Resilience in a Digital World”. The publication examines major cyber security topics including emerging trends, government perspectives, board and management responsibilities and ways to address the skills gap in the cyber security space.

During the 2nd Panel Session (“Driving effective resilience & response to emerging cyber-threats”), Andy Akoto posited that Cyber security is not only about protection against attacks but also effective response. According to him, an established plan of action that immediately executes following a security breach is crucial to limit incident costs and damages to the company’s reputation.

As a highlight of the conference, John Anyanwu (Associate Director, Technology Advisory, KPMG in Nigeria) led the audience through the ‘Cyber Incident Response Game’, a live simulation of a typical cyber security attack (Ransomeware) and response scenario by a Bank. The game was designed by KPMG to show the speed and complexity of real world situations, providing an interactive user experience where the most popular decisions by the audience determined the sequence of the game.

Summarizing key learnings from the live cyber game, John Anyanwu noted the importance of effective collaboration within organizations as key to enhancing cyber incident response. According to him, it also highlighted the need for management to be educated on managing security incidents as well as the importance of robust information security awareness and resilient data storage systems

Source: thebftonline.com/Ghana

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