Prez. Akufo-Addo calls for strengthened legislative frameworks to safeguard democracy in Africa
By Eugene Davis
Forging Value: 2nd MIIF
Stakeholder Conference
Story on page 3
Ghana Mall debuts as premier hub to empower MSMEs and drive economic growth
-over 250,000 people expected to bene t
Story on page 6
Oyster Agribusiness secures US$2million in funding to expand operations in Ghana’s agricultural sector
Story on page 4
By Eugene Davis
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Springfield to boost oil output by 50,000 bpd
Indigenous upstream petroleum company, Spring eld Group, has announced the arrival of the Deep-sea Bollstra rig to commence the appraisal of the A nex-1x well on the company’s West Cape Three Points o shore block.
This was announced by the CEO, Kevin Okyere, in a press conference organised in Accra.
According to him, the A na well is expected to add about 50,000 barrels of oil per day (bpd) to Ghana’s production capacity.
The announcement to commence the appraisal programme follows a ruling on July 8th, 2024 by the international court of arbitration which gave Springeld the go-ahead to complete the unitization of the A na/Sankofa elds in line with the tribu-
nal’s recommendation to undertake the action in 6 months.
Speaking to the media, Mr. Okyere noted that the appraisal programme, which is scheduled to start soon, will take a record time of about 35 days to complete.
“I am pleased, distinguished media members, to announce that the Mobile O shore Drilling Unit, the Deepsea Bollstra, has arrived in Ghana and commenced the re-entry and Drill Stem Test of A na 1-x in line with the Appraisal Programme.”
He added that “the programme is scheduled for approximately a month and will enable us to ow test the A na reservoir and obtain well productivity data.”
He also used the opportunity to clarify comments made by the
executive director of the African Centre for Energy Policy, Ben Boakye, on completing the appraisal and further submitting contradictory reports. He debunked the comments and described it as false.
The A na well travels about 70,000 km o shore and 4,000 km into deep waters. A successful campaign will make Spring eld the rst independent African producer to venture into deep waters.
The process, according to Mr. Okyere costs Spring eld about $70 million dollars. The company, together with its partners, the GNPC, GNPC-Explorco, as well as international contractors such as Northern Ocean Limited, Halliburton, and more, are expected to carry out the process.
Prez. Akufo-Addo calls for strengthened legislative frameworks to safeguard democracy in Africa
In an address to the Conference of Speakers and Presidents of African Legislatures (CoSPAL) in Accra, President Nana Akufo-Addo encouraged African leaders to develop and promote legislative frameworks that safeguard the democratic rights of citizens while fostering a sense of shared responsibility in overcoming regional challenges.
Speaking through the Deputy Majority Leader in Parliament, Patricia Appiagyei, the President emphasized that CoSPAL is more than just an organization; it is a movement dedicated to unifying legislative processes and sharing
By Eugene Davis
best practices across borders. “Africa has made signi cant strides in democratic governance, yet we continue to
confront serious obstacles,” he stated. “Our pursuit of greater freedom, peace, and development has, at times, been disrupted by
violence, health crises, and political instability. CoSPAL must take the initiative to create and advocate for frameworks that protect our citizens' democratic rights.”
President Akufo-Addo highlighted the importance of a borderless approach to addressing Africa's challenges, noting that many issues extend beyond national boundaries. He stressed the need for the free movement of people, economic integration, and shared policies on security and health. “I rmly believe that CoSPAL can achieve remarkable success by promoting legislative practices that prioritize Africa’s collective wellbeing over narrow national interests.”
He acknowledged the continent's ongoing struggle with political stability, particularly in nations with emerging democracies, and reminded attendees that democracy is a journey, not a destination. The President pointed to the concerning resurgence of military interventions in some countries as a clear call to action for leaders to defend and protect democratic
values.
However, he expressed condence that CoSPAL would champion the principles of tolerance, dialogue, and respect for the will of the people, serving as a vital force for democratic governance and development across the continent. Re ecting on the legacy of those who fought for a united Africa, he underscored CoSPAL’s critical role in facilitating cooperation among nations
and called for actionable targets to translate discussions into concrete steps for advancing the continent's collective interests.
Turning to Ghana, President Akufo-Addo rea rmed the government's commitment to conducting peaceful and transparent elections in the upcoming electoral season. He urged all Ghanaians to unite in support of democratic values and participate in the electoral process free from
fear or intimidation.
In collaboration with the Electoral Commission and relevant stakeholders, the government aims to create an environment conducive to free and fair elections, reinforcing Ghana's status as a beacon of democracy on the continent. Leaders underscored that the nation's commitment to justice, equality, and freedom is a legacy that must be upheld for future generations.
Forging Value: 2nd MIIF Stakeholder Conference on Ghana’s Minerals Future
The Minerals Income Investment Fund (MIIF) hosted the highly successful second MIIF Stakeholder Conference at the Marriott Bonvoy Hotel on 15th October 2024. The event, themed “Minerals Value Addition and Value Chain Development – Essential Tools for Ghana’s Development,” provided a crucial platform for discussions on enhancing Ghana’s mining sector through value addition, governance, and sustainable practices.
Bringing together key stakeholders, including government o cials, industry leaders, civil society organizations, policymakers, the media etc. the conference served as a collective e ort to explore how Ghana can capitalize on its mineral wealth to drive long-term economic growth.
Mining: The First Pillar of Ghana’s Economy
Opening the conference, Edward Nana Yaw Koranteng, CEO of MIIF, reminded attendees of MIIF’s mandate, saying, “It is important to rehash what MIIF is and the role we play and also some of the strides we have made. The Minerals Income Investment Fund was set up by statute (Act 978) in 2018 with a three-pronged mandate.
1) Receive and manage mineral royalties on behalf of the government.
2) Manage the equity interest
of the state in all large-scale mines in which the State has a carried interest and
3) Invest the royalties on behalf of the people in a transparent, bene cial, accountable, and sustainable way.
He also emphasized that the Fund’s mandate is underpinned by the vision to make mining the rst pillar of the Ghanaian economy by investing in value addition for every single mineral type, increase Ghanaian equity in the mining majors and support the mining value chain towards an extensive localization of value which will create Ghanaian mining champions. “I believe we are on an upward trajectory in line with this vision, but a lot more needs to be done.,” Mr. Koranteng added.
MIIF’s Strategic Growth and Ambitious Future
Since its inception in 2018, MIIF has grown its assets from $180 million to over $1 billion. Mr. Koranteng shared MIIF’s ambitious vision for the future: “Over the next decade, we aim to grow our assets under management to $6 billion, creating sustainable generational wealth for all Ghanaians. This growth will be driven by our investments in value addition, technology, and expanding our royalties net.”
He also outlined MIIF’s key investment initiatives, including a
$60 million investment into Ghana’s burgeoning lithium and salt industries. “Our investments in lithium and salt position Ghana as a leader in critical minerals essential for the global shift towards renewable energy and electric vehicles. We are setting a model for other African nations to follow,” Mr. Koranteng noted.
Expanding the Royalties Net
Mr. Koranteng announced MIIF’s strategic framework agreement with the Ghana Revenue Authori ty (GRA), Ghana Standards Authority, Minerals Commission (Mincom) and EOCO to ensure that all mining companies meet their royalty obligations. “We are using technology to track produc tion levels and ensure compliance
from mining companies. This will expand our revenue base, increasing the funds available for reinvestment into the sector,” he explained.
He further shared MIIF’s plans to introduce a dividend payout policy that ensures nancial independence for the Fund and streamlines payments to the Government. “This policy will cement MIIF’s independence,” Mr. Koranteng emphasized. Collaboration for Sustainable Growth and Value Addition
A recurring theme throughout -
tance of mineral value addition. Honourable George Mireku Duker, Deputy Minister of Landsscored the need for Ghana to
From left to right: Dr. Kwasi Ampofo, Head of Metals and Mining, BloombergNEF (moderating the panel conversation); Edward Nana Yaw Koranteng, CEO of MIIF, Mr. Denis Gyeyir, Africa Senior Programme O cer, Natural Resource Governance Institute; Dr. Steve Manteaw, Co-Chair, Ghana Extractive Industry Transparency Initiative (GHEITI); Mr. Frederick Attakumah, Ghana Country Director, Asante Gold Corporation; Mr. Kwaku Amprom , Group CEO, McDan Group.
locally. “By focusing on re ning and adding value to our minerals before exporting, we can retain a larger share of the economic bene ts and reduce our reliance on raw mineral exports,” Hon. Mireku Duker said.
The Minister further stressed that local content policies must be enforced to ensure that Ghanaian businesses and entrepreneurs play a central role in the mining sector. He encouraged MIIF to explore value addition opportunities across the mining sector, urging the Fund to work with the private sector and the Ghana Geological Survey Authority to establish a mineral exploration fund.
“Our aim is to set up downstream industries in mining catchment areas, creating jobs and enhancing local economies. MIIF must continue its role as a catalyst in supporting local entrepreneurship,” he added.
Additionally, the Minister stressed the need for MIIF to create a more advanced system for tracking production along the mining value chain to ensure proper reconciliation of mineral royalties owed to the State. He urged MIIF to collaborate with relevant government ministries, including Lands, Finance, and National Security, to combat gold smuggling and the illicit nancing of mineral projects.
Africa’s Critical Role in Global Mineral Supply Chains
A key presentation at the conference was delivered by David Ofosu-Dorte, Senior Partner at AB & David, who spoke on the importance of leveraging Africa’s mineral resources in value-added global supply chains. “Africa has always been rich in resources, but we must be intentional in adding value and taking our rightful place in the global supply chain. The Africa Mining Vision and Agenda 2063 provide a framework for achieving this through regional cooperation and innovation,” Ofosu-Dorte remarked. He emphasized the importance of Ghana’s leadership in showcasing how African nations can turn raw minerals into high-value products that drive local industries and create jobs. “MIIF’s role is critical in ensuring that Ghana’s mining sector becomes a model for others to follow, with a focus on value addition, sustainability, transparency, and innovation,” he added.
Stakeholder Engagement: A Path to Responsible Resource Management
The conference also emphasized the signi cance of stakeholder engagement in ensuring that Ghana’s mineral resources are managed responsibly. The panel discussion, moderated by Dr. Kwasi Ampofo, Head of Metals and Mining at BloombergNEF, further explored the theme of the
Conference. On the panel were Edward Nana Yaw Koranteng, CEO of MIIF, Mr. Frederick Attakumah, Ghana Country Director of Asante Gold Corporation, Kwaku Amprom , Group CEO, McDan Group, Denis Gyeyir, Africa Senior Programme O cer at the Natural Resource Governance Institute, and Dr. Steve Manteaw, Co-Chair of the Ghana Extractive Industry Transparency Initiative (GHEITI). The conversations focused on value addition to Ghana’s minerals resources, with the panel calling for more transparency in the investments and initiatives of the Fund.
Denis Gyeyir, Africa Senior Programme O cer at the Natural Resource Governance Institute (NRGI), praised the policy initiative but urged for an amended MIIF Act to institutionalize good practices. He highlighted the importance of reforms to avoid past mistakes, particularly referencing Ghana National Petroleum Corporation (GNPC) Explorco's issues with dividend payout due to the absence of a clear policy.
“The dividend payout policy is critical,” Mr. Gyeyir remarked. “We’ve seen it with GNPC Explorco, where government interests in oil blocks were handed over without the proper payout structure in place. We need to learn from The panel also highlighted successful case studies from other countries, showing how responsible mining practices can lead to sustainable development. “Ghana has a unique opportunity to demonstrate that mineral wealth can be managed in a way that
bene ts everyone while protecting our natural resources,” the panel concluded.
Support for Local Entrepreneurs and Expanding Industries
In line with its mandate to support local businesses, MIIF’s GHS25 million investment in Injaro Ghana Venture Capital Fund, a company providing nancial backing to rms in the mining supply chain, was highlighted as a key initiative. “This investment enables local companies to access funding, compete with international rms, empowering our entrepreneurs to take full advantage of the opportunities within the sector,” Mr. Koranteng stated.
A particular emphasis was placed on Ghana’s potential in salt production. “Companies like Electrochem have the potential to elevate Ghana into the ranks of the top 10 salt-producing nations,” Mr. Koranteng shared. He called for institutional support to ensure that local entrepreneurs succeed in this endeavour.
“Our role at MIIF is to support these industries not only through nancing but also by providing the governance and transparency needed for success.”
The Road Ahead: Building a Sustainable Future
Mr. Koranteng reiterated MIIF’s commitment to ensuring that Ghana’s mineral wealth drives long-term economic transformation. “The future is bright. With our strategic investments, expanding royalties net, and focus on sustainability, MIIF will continue to play a key role in Gha-
na’s economic growth. Our goal is not just wealth creation for today, but sustainable generational wealth for all Ghanaians.”
As MIIF looks to the future, its e orts will remain focused on promoting transparency, fostering innovation, and ensuring that the bene ts of Ghana’s mineral wealth are shared equitably across the nation.
As charged by President Nana Addo Dankwa Akufo-Addo, MIIF’s role extends beyond funding and equity positions in mines.
The Fund is working to support the building of a fully- edged mining industry with investments across the mining value delivery chain, including capacity building, capital markets, commodity trading, and research and development.
Conclusion and Next Steps
The MIIF Stakeholder Conference ended with a collective understanding that Ghana must do more to maximize the bene ts of its natural resources through value addition, sustainable practices, and improved governance. Participants reiterated the need for collaboration between government, private sector players, and civil society to ensure that the wealth generated from Ghana’s mineral resources benets all citizens.
The conference also called for ongoing stakeholder engagement to ensure that policies and initiatives re ect the needs of all parties involved. MIIF rea rmed its commitment to working with stakeholders to drive value chain development, foster sustainable mining practices, and promote transparency in governance.
About MIIF
MIIF was set up by the Minerals Income Investment Fund Act, 2018 (Act 978) as amended to receive royalties from minerals accruing to government, invest those royalties to secure the future wealth of the country and also manage the equity interest of Ghana in large scale mining rms.
civil society to ensure that the wealth generated from Ghana’s mineral resources bene ts all citizens.
The conference also called for ongoing stakeholder engagement to ensure that policies and initiatives re ect the needs of all parties involved. MIIF rea rmed its commitment to working with stakeholders to drive value chain development, foster sustainable mining practices, and promote transparency in governance.
Visit www.miif.gov.gh for more information.
For further enquiries, call Business Development on 0201855601 | 0201855633 | 0201855603
Edward Nana Yaw Koranteng, the Chief Executive O cer of the Minerals Income Investment Fund (MIIF) opening the Stakeholder Conference with his remarks.
Hon. George Mireku Duker, Deputy Minister of Lands and Natural Resources, giving his remarks at the Stakeholder Conference.
Government at the just ended treasury bill auc�on announced a set target of GH¢4,035.00 million across the 91, 182 and 364-day bills. However, total bids amoun�ng to GH¢4,195.32 million was received and accepted represen�ng a 3.97% oversubscrip�on of GH¢160.32 million
Following the total bid oversubscrip�on, the week-on-week yields also soared further, at least more significantly than the previous week’s increase , witnessing an upward reac�on of 32.62bps, 12.63bps a nd 15.57bps increases across the 91-, 182- and 364-day bills respec�vely.
T-bills: Government to borrow GH¢3,980.00 Million this week across the 91, 182 and 364 day bills to cater for maturi�es totaling circa GH¢3,540.00 Million
Shares: MTN Ghana Sha res c on�nue to dominate GSE equity market trades despite a no price change to close the week at GHS2.15 per share. GLD shares on the other ha nd is the bigge st gainer with a price increa se of G H¢27.81 to close at GH¢423.81 per share
Mutual Fund: NTHC Horizon Fund reports a Year-To-Date (YTD) performance of 32.18% and a Net Asset Value (NAV) growth of 40.44% for the week ending O ctober 18, 2024
Economy
Cedi now selling at G H¢16.55 to a dollar at major forex bureaus
Ghana’s fiscal deficit to GDP to end 2024 at 4.2% - World Bank.
Ghana Mall debuts as premier hub to empower MSMEs and drive economic growth
By Eugene Davis
-over 250,000 people expected to bene t
A new trade facilitation hub, the "Ghana Mall," has opened in Accra, creating a transformative platform for Ghanaian Micro, Small, and Medium Enterprises (MSMEs) to showcase, network, and sell their products.
This groundbreaking facility in Nyaniba Estates, Labone, exclusively houses Ghanaian-made goods, products and aims to connect local entrepreneurs with both domestic and international buyers.
Kosi Yankey-Ayeh, CEO of the Ghana Enterprises Agency (GEA), highlighted the hub’s impact, noting that over 250,000 people are expected to bene t. “This space provides crucial market access for Ghanaian MSMEs, especially youth and women entrepreneurs, where they can proudly showcase authentic Ghanaian products. There is no imported product here; everything is made by Ghanaians,” she remarked. Yankey-Ayeh emphasized that Ghana Mall will not only strengthen local businesses but also empower MSMEs, which she described as the “backbone of the economy.”
A collaborative e ort between GEA and the Mastercard Foundation, Ghana Mall is designed to support entrepreneurs trained by the GEA. The partnership will provide ongoing resources, including guidance on packaging,
regulatory compliance, and business development, especially targeting youth and women entrepreneurs. Entrepreneurs interested in showcasing their goods can apply through GEA’s business advisory centers.
Looking to the future, Yankey-Ayeh revealed plans to expand Ghana Mall’s concept nationwide and partner with private-sector players. “We’re open to private sector collaborations that can scale this across Ghana,” she stated. With support from Mastercard Foundation, facilities like Jowato in Tamale and Lokko House are potential expansion sites, aiming to replicate the success of the Accra location.
According to the GEA, the total investment in the Ghana Mall initiative is several million Ghana cedis, re ecting the commitment to building a thriving ecosystem for local businesses.
Gottfried Odamtten-Sowah, Acting Head of Entrepreneurship Development at Mastercard Foundation, lauded the Ghana Mall as “more than just a retail space.” He described it as a “vibrant marketplace” where young entrepreneurs' skills and craftsmanship can shine. "This hub celebrates young Ghanaian talent and advances an entrepreneurial spirit that fuels the economy," he said, underscoring the Founda-
tion’s commitment to inclusivity, particularly for young women and people with disabilities.
Deputy Minister of Trade and Industry Ko Ahenkorah Marfo commended GEA’s e orts, calling Ghana Mall a “testament” to the agency’s achievements. He urged the replication of the concept across Ghana’s regions to strengthen the MSME sector, which he sees as the core of the nation’s economic growth.
“We’re creating a network and marketing ecosystem that promotes the growth of MSMEs. These enterprises, more than large industries, will form the backbone of Ghana’s economy,” Marfo explained.
Seth Twum-Akwaboah, CEO of the Association of Ghana Industries (AGI), also praised the Ghana Mall initiative, emphasizing the value of retailing to reach the nal consumer in the manufacturing process. He encouraged Ghanaians to support Made-in-Ghana products, commending the improved quality and packaging.
The Ghana Mall represents a signi cant investment in Ghana’s economy, with over $200 million allocated to support SMEs and other direct funding initiatives under the current government’s tenure. This new hub marks a bold step in driving Ghana’s MSME sector forward, strengthening local entrepreneurship, and fostering economic inclusivity.
Oyster Agribusiness secures US$2million in funding to expand operations in Ghana’s agricultural sector
Oyster Agribusiness, an innovative agri-tech company specializing in climate-smart agriculture, has raised US$2 million in funding to expand its operations and deepen its impact on smallholder farmers across Ghana. This milestone was made possible through the support of Root Capital, RDF Ghana, and Sahel Capital Social Enterprise Fund for Agriculture in Africa (SEFAA FUND), with the fundraising process led by Pangea Africa Limited, a leading Business Development Service provider. Over the last ve years, Oyster Agribusiness has played a pivotal role in transforming the livelihoods of smallholder farmers and promoting sustainable agricultural practices. The company has:
Paid over GH¢60 million (US$3.8million) to smallholder farmers
Positively impacted the lives of 4,500 smallholder farmers
Cultivated over 20,000 acres of farmland
Supplied over 25,000 tons of agricultural produce to markets locally and internationally This fresh capital injection will allow Oyster Agribusiness to expand its operations, reach more farmers, and scale its climate-smart agricultural initiatives, further strengthening the resilience of Ghana’s agricultural sector in the face of climate challenges.
CEO, Edmond Kombat, shared his enthusiasm about the investment and the future of the company:
"We are thrilled to have the support of Root Capital, RDF Ghana, Sahel Capital, and Pangea Africa Limited, whose expertise and backing will help us to accelerate our vision. This investment is a testament to the impact we've made with smallholder farmers and the tremendous potential we see in scaling our operations. Together, we are working toward a more sustainable, inclusive, and
resilient agricultural ecosystem in Ghana."
Pangea Africa Limited played a crucial role in structuring and guiding the fundraising process, ensuring that Oyster Agribusiness attracted the right partners to scale its operations while maintaining its focus on environmental sustainability and empowering smallholder farmers.
"Oyster is a prime example of a growing African agribusiness generating triple bottom-line impact. Under the dynamic leadership of Mr. Edmond Kombat,
Oyster is achieving impressive pro ts while delivering measurable social and environmental bene ts, particularly for Ghanaian farmers. They serve as a shining example of leadership to their West African agribusiness counterparts," Nii Lokko - Partner, Pangea Africa Ltd.
About Oyster Agribusiness
Oyster Agribusiness is a climate-smart agricultural company dedicated to supporting smallholder farmers through technology and sustainable farming solutions. By working closely with
farmers, the company aims to improve productivity, foster economic growth, and contribute to food security in Ghana.
About Pangea Africa Limited Pangea Africa Ventures is a business development service provider that supports startups and growth-stage businesses across Africa. With a focus on innovation, sustainability, and impact, Pangea helps companies scale their operations, access new markets, and raise capital.
For media inquiries, please contact: info@oysteragribusinessgh.com
Edmond Kombat, CEO of Oyster Agribuinsess, in green shirt, interacting with some farmers
Speaker Bagbin urges African legislatures to lead on Economic, Climate, and Security challenges at CoSPAL Summit
Speaker of Parliament, Alban Sumana Kingsford Bagbin, has urged fellow African parliamentary leaders to take an active role in addressing global economic challenges, climate change impacts, and security threats a ecting the continent.
He asserted that lawmakers must not remain on the sidelines but should be central to e orts in tackling these issues to ful ll the needs and aspirations of their constituents.
During the opening of the two-day Conference of Speakers and Presidents of African Legislatures (CoSPAL) in Accra, Bagbin highlighted that the role of legislative assemblies has been reshaped by global challenges, which require a proactive response. “Our parliaments cannot sit aloof or operate on the fringes. We must be at the center of these e orts if we are to meet the needs of the people we represent,” he stated.
He called on attendees to approach discussions with optimism, aiming to create a strong, inclusive, and forward-thinking association, and to develop e ective strategies to strengthen their parliaments' legislative and oversight functions.
Bagbin also underscored the importance of collaboration in fostering trade, investment, and innovation to drive the continent's economic development. “As Africans, we share a common destiny and face the same enemies of ignorance, poverty, and deprivation. No single country can address these challenges alone. Collective action is essential,” he noted.
The core agenda for the conference includes reviewing and adopting a Draft Constitution prepared by the Interim Technical
Working Group (ITWG), established at the rst General Assembly in Abuja, Nigeria, in May 2022.
CoSPAL, the rst permanent platform of its kind, aims to unite African legislative leaders to
By Eugene Davis
support the continent’s growth and sustainable development. One of its main objectives is to expand parliamentary diplomacy by collaborating with executive branches, regional and international inter-parliamentary organizations, civil society, and the
African Union.
Parliaments globally, and in Africa, play a vital role in socio-economic development and democratic governance through their representation, legislation, and oversight functions.
Essential insights for crafting your 2024 cyber security strategy
In a stark revelation, almost half (46percent) of businesses have experienced a data breach in the past year, according to the government’s Cyber Security Breaches Survey 2017. This alarming statistic highlights the pressing need for organizations to recognize and mitigate the security risks posed by new cloud-based software, such as O ce 365. Your cyber security strategy is more than just a plan—it's a lifeline that can help your business navigate and thrive in a world lled with constantly evolving cyber threats. When implemented correctly, this strategy can provide a signi cant competitive edge.
At our organization, we strongly advocate for a ‘risk-based approach’ to cyber security. This approach involves proactively identifying potential risks to your organization, understanding the potential impact of these risks, and taking steps to reduce and mitigate them. In this article, packed with expert insights, we will outline the steps you need to take to craft a robust cyber security strategy for 2024 and beyond. Key elements of a comprehensive cyber security strategy
A well-rounded cyber security strategy is essential to protect your business from cyber threats. It sets out a clear vision of a safe cyber environment based on industry-wide best practices and factors unique to your business. One foundational element to consider is the NIST Framework. Created by the National Institute of Standards and Technology in the US, the NIST Framework provides a series of guidelines to help businesses of all sizes follow industry-wide best practices to enhance their cyber resilience.
The NIST framework's ve components
1. Identify: Determine what types of threats pose a risk to your business and identify the assets at risk.
2. Protect: Implement safeguards to protect the identi ed assets.
3. Detect: Develop mechanisms to detect cyber threats
against your assets.
4. Respond: Plan and implement responses to identi ed cyber threats.
5. Recover: Establish procedures to recover from a cyber threat that has damaged your infrastructure.
Essential components of your cyber security strategy
1. Employee training and awareness: According to IBM, 95% of cyber breaches are due to human error. Educate your workforce on best practices to prevent these errors.
2. Vulnerability management and patching: Regularly update and patch software to protect against known vulnerabilities.
3. Threat intelligence and security monitoring: Stay informed about current cyber attack techniques and monitor for threats to take proactive measures.
4. Identity and access management: Use a zero-trust architecture to ensure that only authorized individuals can access your systems.
5. Incident response: Develop a plan to respond to cyber incidents, including determining the nature of the attack and the necessary steps to mitigate damage.
6. Business continuity planning: Have a plan in place to ensure continued operations during a cyber incident or other disasters.
7. Arti cial intelligence and machine learning in cyber security: Leverage AI and ML to analyze data, identify patterns, and detect anomalies.
8. Automated threat detection and response: Use AI and ML to automate the detection and response to threats.
9. Behavioral analytics and anomaly detection: Analyze network tra c and user behavior to identify and respond to potential threats.
10. Regulatory compliance and legal considerations: Ensure compliance with relevant industry standards and regulations.
11. Privacy regulations and
By Allen Olayiwola
data protection: Safeguard customer data and comply with privacy regulations such as GDPR.
12. Industry-speci c compliance requirements: Adhere to cyber security regulations speci c to your industry.
13. Building partnerships and collaborations for cyber security: Share information and collaborate with others to enhance cyber security.
14. Sharing threat intelligence and best practices: Create processes for sharing threat intelligence with trusted partners.
15. Coordinated incident response and cyber exercises: Regularly train your teams on how to respond to cyber incidents.
Conclusion
Developing a robust cyber security strategy is crucial for protecting your business against cyber threats. Partnering with a Managed Services Provider (MSP) can bring specialized expertise, cost savings, and peace of mind to your organization. An MSP with
the right experience and service o erings can help you implement a comprehensive cyber security strategy that aligns with your business goals and supports long-term success.
If you'd like to explore how these strategies can help your organization thrive, reach out to discuss tailored solutions for your business growth journey.
>>> Allen Olayiwola is a seasoned cloud architect and systems administrator with expertise in leading technical teams to create innovative platforms. As CTO of eSolutions Consulting, he has spearheaded major projects like the O ce 365 rollout for Ghana’s government and infrastructure deployment for the Ghana Revenue Authority. Recognized for his strategic use of emerging technologies, Allen has led his team to multiple Microsoft Partner of the Year awards, solidifying his role as a key leader in tech-driven business transformation. He can be reached via allen@esolutionsghana.com and or 0540123034
CIDAN INVESTMENTS LIMITED
WEEKLY MARKET REVIEW FOR WEEK ENDING October 18, 2024
Trend in Market Indices - 2024
STOCK MARKET REVIE
W
The Ghana Stock Exchange closed higher this week on the back of price increases by 3 counters.
The GSE Composite Index (GSE-CI) gained 0 77 points (+0.02 %) for the week to close at 4,347.47 points, reflecting a year-to-date (YTD) gain of 38.89% The GSE Financial Index (GSE-FI) remained flat for the week to close at 2,203.38 points (0.00%), reflecting a year-to-date (YTD) gain of 15 87%
Market capitalization inched up by 0 09% to close the week at GH¢99, 054.59 million, from GH¢98,964.42 million at the close of the previous week. This reflects a YTD gain of 34.05%.
The week recorded a total of 1,455,234 shares valued at GH¢13,965,256.93, compared with 1,114,611 shares, valued at GH¢14,296,225.56 traded in the preceding week.
MTNGH dominated the volume of trades while New Gold Exchange Traded Fund dominated the value of trades for the week accounting for 89.80 % and 78 87% of the volume and value of shares traded respectively.
The market ended the week with 3 advancers, as indicated in the table below
Volume and Value of Trades for Week Ending 18/10/2024
CIDAN INVESTMENTS LIMITED
WEEKLY MARKET REVIEW FOR WEEK ENDING
October 18, 2024
CURRENCY MARKET
The Cedi continued its depreciation run for the second straight week It traded at GH¢15 9900/$, compared with GH¢15.7900/$ at week open, reflecting w/w and YTD depreciations of 0.56% and 25.70% respectively. This compar es with a loss of 24.91% a year ago.
The Cedi also depreciated against the GBP for the week. It traded at GH¢20.8422/£, compared with GH¢20.7885/£ at week open, reflecting w/ w and YTD losses of 0.26% and 27.39% respectively. This compares with a depreciation of 25.63% a year ago.
The Cedi inched up marginally against the Euro for the week It traded at GH¢17 3700/€, compared with GH¢17.4049/€ at week open, reflecting w/ w gain and YTD depreciation of 0.20% and 24.43% respectively. This compares with a depreciation of 24.35% a year ago.
The Cedi lost grounds against the Canadian Dollar for the week It opened at GH¢11 5530/C$ but closed at GH¢11.5867/C$, reflecting w/w and YTD losses of 0.29% and 22.23% respectively. This compares with a depreciation of 24.15% a year ago.
CIDAN INVESTMENTS LIMITED
WEEKLY MARKET REVIEW FOR WEEK ENDING October 18, 2024
Exchange Rates: Ghana Cedi vs Selected Currencies
Source: Bank of Ghana
Ghana Market Summary
Source: Bank of
COMMODITY MARKET
GOVERNMENT SECURITIES MARKET
The government raised a sum of GH¢4,195 32 million for the week across the 91 -Day, 182-Day and 364-Day Treasury Bills This compared with GH¢4,613.93 million raised in the previous week.
The 91-Day Bill settled at 25 94% p a from 25 62% p a last week whilst the 182 -Day Bill settled at 27 03% p a from 26.90% p a last week The 364Day Bill settled at 28 74% p.a from 28 58% p a last week
The tables below highlight primary market activity at the close of the week.
Oil prices fell as a recent rebound ran out of steam, with concerns over slowing demand in major oil consumer China remaining squarely in play. Brent futures traded at US$7 3.06 a barrel, compared to US$79.04 at week open, reflecting w/w and YTD depreciations of 7 57% and 5.17% respectively.
Gold prices rose as traders remained largely biased towards safe havens in anticipation of a tight 2024 presidential election Gold settled at US$2,730 00, from US$2,676 30 last week, reflecting w/ w and YTD gains of 2 01 and 31 77% respectively
The price of Cocoa declined for the week Cocoa traded at US$7,432 50 per tonne on Friday, from US$7,751.00 last week, reflecting w/w loss and YTD appreciation of 9.87% and 84.72% respectively.
International Commodity Prices
CIDAN INVESTMENTS LIMITED
WEEKLY MARKET REVIEW FOR WEEK ENDING October 18, 2024
YTD Performance of Selected Commodity Prices
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Gold Cocoa Brent Crude
Gexim partners Foreign Affairs Ministry to champion Ghana’s industrialisation agenda
The Ghana Export – Import Bank (GEXIM) is deepening its collaboration with the Ministry of Foreign A airs and Regional Integration to champion the Government of Ghana’s industrialization agenda by promoting and creating market access for Made-In-Ghana products and services globally.
On Wednesday 23rd October 2024, the Deputy Chief Executive O cer of GEXIM, responsible for Banking, Ms. Rosemary Beryl Archer, led a team from the Bank to present assorted Made-In-Ghana products of their clients and other Ghanaian entrepreneurs to the Ministry of Foreign A airs and Regional Integration.
Honorable Kwaku Ampratwum-Sarpong, the Deputy Minister of Foreign of Foreign A airs and Regional Integration in charge of Political and Economic matters and Member of Parliament for Asante Mampong, welcomed the GEXIM team to the ministry and received the items on behalf of the Minster.
The presentation follows a similar one by the Bank in March 2022 on the occasion of Ghana's 65th independence anniversary
celebration. The Bank presented Made-In-Ghana products which were distributed to selected Ghanaian missions abroad for promotion and to explore avenues for improved packaging and state of the art equipment to support Ghana’s industrialization agenda.
The Deputy Chief Executive O cer of GEXIM highlighted the importance of Ghanaian missions around the world and their pivotal role in assisting to increase Ghanaian exports globally, promoting trade and commerce as well as attracting investment for Ghanaian businesses and their products.
“It is important to deepen our existing cordial relations and we are here today to present these uniquely packaged and innovative Made-In-Ghana products to be sent to the Ghanaian missions. We believe a strategic collaboration with the Ministry of Foreign A airs and Regional Integration has a potential to unlock unending opportunities for Ghanaian businesses and lead to economic growth. We are happy to work with the Ministry to replicate around the world various forms of our GEXIM MIG Town, a one
stop shop for everything Made-In-Ghana products”, she emphasized.
On his part, Honorable Ampratwum-Sarpong expressed his delight about the innovation employed by the Ghanaian entrepreneurs in packaging their products to meet international standards. He further lauded GEXIM for investing in Ghanaian businesses and its campaign in driving awareness for the patronage of Made-In-Ghana products globally which he indicated will be of economic bene t to the country.
“It feels good to see these products and more importantly, knowing these are produced in
Ghana, it brings me a lot of joy. It is such an important time to be driving such a campaign to help sustain local businesses and be able to trade favorably in the international marketplace. We believe economic diplomacy is very key for our country at the moment and we urge all key stakeholders to help with this agenda to achieve an industrialized Ghana”, he added.
Some of the very unique, and authentic Made-In-Ghana products presented to the Ministry include food and ingredients, beverages, skin and beauty care products, textiles, apparel, garments, leather footwear, slippers, and many others.
The next chapter for Ghana’s mining industry: Dr. Kwasi Ampofo advocates a focus on people and environment
“Ghana’s mining policies must evolve to holistically cover the four most critical stakeholders in the value chain or fall short of the needs of today’s multifaceted mining industry.”
This assertion was made by Dr. Kwasi Ampofo, Head of Mining and Metals at BloombergNEF in London, United Kingdom in the 12th ALUMaT Lecture held to celebrate 20 years of the University of Mines and Technology (UMaT) in Tarkwa.
Dr. Kwasi Ampofo, who is an alumnus of the University, was speaking on the topic “Unlocking Ghana’s Full Mineral Potential.”
He provided a comprehensive overview of the evolution of Ghana’s mining policies since inde-
pendence. His lecture emphasized that while progress has been made, further policy re nement is essential to better balance government, business, people, and environmental considerations.
A Historical Overview of Mining Policies
Since gaining independence in 1957, Ghana’s mining policies have evolved through various legislative frameworks. Dr. Ampofo highlighted four key policies that shaped the sector: the Minerals Act of 1962, the Mining Operations Decree of 1972, the Minerals and Mining Law of 1986, and the Minerals and Mining Act of 2006. The rst of these, the Minerals
Act of 1962, vested mineral ownership in the state. However, the policy’s focus on government control ultimately crowded out private sector involvement, leading to mass layo s. Environmental and people-centered considerations were largely absent at this stage.
By the 1970s, the Mining Operations Decree sought to protect jobs and increase government revenue by acquiring majority shares in foreign mining companies. While it boosted government control, the policy failed to promote business growth or provide adequate bene ts for the people. Environmental sustainability remained an afterthought. In the 1980s, the Minerals and
Mining Law of 1986 opened the door to foreign direct investment and set the stage for an improved business environment. Crucially, it marked the establishment of the Environmental Protection Agency (EPA), signaling the rst step toward addressing environmental concerns in the mining sector.
Finally, the Minerals and Mining Act of 2006 introduced local content policies and transparency initiatives, such as the Ghana Extractive Industries Transparency Initiative (EITI), alongside the creation of the Minerals Development Fund. While these policies improved business opportunities and government revenues, Dr. Ampofo argued that more could
be done to bene t local communities and protect the environment.
Mining Industry De cits and Possible Remedies
1. Good Policies: Dr. Ampofo called for mining policies that foster a balanced relationship between business, government, people, and the environment. He emphasized that good public policies should enable businesses to thrive while ensuring that the government and communities bene t. To achieve this, Ampofo urged the government to prioritize policies that address all key stakeholders equally, moving beyond the historical focus on government control and business interests.
2. Enhancing Financing: On enhancing nancing in the mining sector, Dr. Ampofo stressed the need for venture capitalists and alternative nancing options to support young entrepreneurs. Drawing on examples from Australia, he recommended making small mining businesses stock exchange-ready by focusing on regulatory, capital-raising, and risk management institutions. This three-pronged approach would help de-risk the sector and attract necessary investments.
3. Talent and Skills Development: Dr. Ampofo highlighted the importance of talent development for the growth of Ghana’s mining sector. He called for structured training programs that bridge the gap between education and industry needs. By investing in the next generation of mining professionals and creating opportunities for continuous learning, the sector can build the skills necessary to remain competitive and drive long-term growth.
4. Support for Exploration: On exploration, Dr. Ampofo recommended tax incentives and grants to encourage early-stage
mining activities. He proposed a system where the government shares exploration risks by o ering rebates to companies investing in strategic minerals. This support would attract new investments and help Ghana discover and develop the mineral deposits necessary to fuel future growth.
5. Infrastructure Development: Dr. Ampofo stressed the need for critical infrastructure to support mining operations. He called for a comprehensive infrastructure plan, including roads, railways, power, and ports, to improve the e ciency of mining activities and reduce costs. Such infrastructure would not only bene t the mining sector but also contribute to the broader industrialization of the country.
6. Value Addition: Dr. Ampofo encouraged the development of downstream industries that add value to raw materials. He recommended policies that promote local processing and manufacturing, which would create jobs and enhance Ghana’s position in the global value chain. This approach would also help the country diversify its economy and increase the returns from its natural resources.
7. Research and Develop
for greater investment in research and development to drive innovation in the mining sector. He stressed the importance of creating R&D hubs linked to universities and industry to foster collaboration and develop new technologies. Supporting R&D would allow Ghana to stay competitive and create long-term solutions for challenges in the mining industry.
8. Economic Linkages: On economic linkages, Dr. Ampofo advocated for policies that integrate mining with other sectors such as agriculture and manufacturing. He emphasized the importance of creating a strong local supply chain to maximize the economic bene ts of mining. By developing local capabilities and linking mining to other industries, Ghana can generate broader economic growth.
9. Sustainable Mining: Dr. Ampofo emphasized the need for stricter environmental standards in mining, calling for modern technologies to minimize environmental harm. He recommended stronger policies that promote both environmental protection and land reclamation. Sustainability, he argued, is essential to ensure that mining
future generations. He highlighted the need to emulate the Kimberly Process, which limited sales of con ict diamonds while ensuring alternative livelihoods for local communities.
10. Care for Communities: Dr. Ampofo highlighted the importance of ensuring mining bene ts local communities. He called for a portion of mining revenues to be directed toward healthcare, education, and infrastructure. Regular engagement between mining companies and communities was also recommended to foster trust and ensure that local populations are active participants in the bene ts of mining activities.
The Way Forward
While Ghana’s mining policies have made signi cant strides over the years, Dr. Ampofo’s lecture highlighted the need for further re nement. To fully unlock the sector’s potential, Ghana must prioritize people and environmental sustainability alongside government and business interests. His recommendations o er a roadmap for creating a more inclusive and sustainable mining framework, one that can truly bene t all stakeholders and make mining the rst pillar of the
A strategic overview of the A4A framework for African businesses
As Africa continues its journey towards industrialization and economic growth, the Ambidexterity for Africa (A4A) Policy Framework emerges as a guiding strategy for unlocking the continent’s vast potential. With the combined forces of a youthful workforce, rich natural resources, and rapidly expanding industries, Africa is uniquely positioned to become a global leader. The A4A Policy Framework lays out key strategies to ensure Africa can rise to this challenge, focusing on ambidextrous inno-
vation—balancing the exploitation of existing capabilities while exploring new opportunities.
Africa’s Dual Challenge: Sustaining Growth and Creating Opportunities
Africa’s demographic growth is projected to be one of the fastest in the world, with the working-age population increasing by 450 million people by 2035 (World Bank). However, the challenge remains in creating sustainable, high-quality jobs for this burgeoning workforce. Current
projections indicate that 54 million wage-paying jobs will be created by 2030, yet this will be insu cient to accommodate the 122 million new entrants into the labor market (McKinsey).
This critical mismatch between employment opportunities and workforce growth underscores the urgent need for ambidextrous strategies. Africa’s industries must balance immediate job creation with long-term innovation and competitiveness to ensure sustainable economic growth.
Ambidextrous Innovation: A Strategic Necessity
Ambidexterity, the ability to exploit current strengths while exploring new opportunities, is increasingly recognized as a key factor in industrial resilience. The A4A Policy Framework introduces ambidextrous innovation as a core strategy for African businesses to stay competitive in global markets. African industries are often constrained by limited resources and infrastructure,
making it di cult to engage in exploratory innovation. However, without innovation, these businesses risk stagnating in the face of global competition.
The 2019 Global Competitiveness Index reveals that only a few African countries rank highly, with Mauritius leading at 64.3, followed by South Africa at 62.4 and Morocco at 60. These gures highlight the need for transformative strategies that promote ambidextrous practices, enabling African businesses to expand their reach and boost competitiveness.
Sector Insights: Unlocking Potential Across Key Industries
The A4A Policy Framework takes a deep dive into various industries across the continent, identifying both challenges and opportunities for growth:
• Technology: The digital transformation is rapidly reshaping industries worldwide, and Africa stands to bene t from the global shift towards generative AI, projected to contribute up to $4.4 trillion in economic value (McKinsey). The framework emphasizes the need for African industries to integrate AI and other emerging technologies to remain competitive.
• Agriculture: Africa’s food and agriculture sector is poised to become a $1 trillion industry by 2030. The A4A framework highlights the importance of innovation in agribusiness and food security, especially as Africa seeks to leverage its agricultural potential to meet global demands.
• Energy: With global investments in clean energy surging, Africa has an opportunity to lead in renewable energy solutions, particularly in solar and wind power. The Africa Green Finance Coalition (AGFC) is already making strides in aligning green nance with industrial development, as outlined in the framework.
• Manufacturing: Manufacturing has long been recognized as a critical driver of job creation. The A4A Policy Framework encourages African governments to adopt industrial policies that
prioritize manufacturing expansion, citing examples of successful policies in the US and Asia.
Innovation and Competitiveness Innovation is key to Africa’s ability to compete on the global stage. The Global Innovation Index (2022) ranks Mauritius, South Africa, and Morocco as the top African innovators. However, much of the continent lags behind, with a signi cant need for increased investment in research and development (R&D). Currently, Africa spends only 0.42% of GDP on R&D, compared to the global average of 1.7% (World Economic Forum). This gap must be addressed if Africa is to become a hub for innovation and economic transformation.
The A4A Policy Framework strongly advocates for ambidextrous strategies that enable businesses to invest in exploratory innovation without sacri cing operational e ciency. This balance is critical to creating di erentiated exports and competing in global markets, as it allows African industries to innovate while continuing to leverage their established strengths.
Economic Contributions and Global Market Integration
Africa’s economic growth has been uneven in recent years, with GDP growth declining from 5.1% annually (2000-2010) to 3.3% (2010-2019). However, nearly half of Africa’s population resides in countries that have outpaced the continental average, indicating strong potential for regional growth leaders to drive industrialization e orts across the continent.
Matching Asia’s productivity growth could add a staggering $1.4 trillion to Africa’s economy, as noted in the A4A framework. The framework’s strategic insights highlight the need for targeted investments in infrastructure and innovation to bridge the productivity gap and accelerate economic growth.
Additionally, Africa’s share of Foreign Direct Investment (FDI) in ows has increased to 5.2%,
with net FDI in ows reaching 10% of GDP by 2022 (McKinsey). This growing investor con dence in Africa underscores the continent’s potential, but also highlights the need for further development of complex industries that can generate signi cant economic returns.
Policy Recommendations
The A4A Policy Framework provides concrete policy recommendations that can guide African governments and businesses toward sustainable industrialization. Key recommendations include:
• Promoting Ambidextrous Strategies: Encourage businesses to adopt both exploratory and exploitative strategies, ensuring innovation while maintaining operational stability.
• Leveraging Public-Private Partnerships: Foster collaboration between governments and the private sector to fund infrastructure projects, enhance technological capabilities, and drive industrial expansion.
• Investing in Green Finance: Africa has signi cant potential in renewable energy, and strategic investments in green nance can propel the continent to the forefront of the global energy transition.
• Expanding Research and
Development: Increase funding for R&D to close the innovation gap and develop industries that can compete in global markets.
Conclusion:
A Framework for Africa’s Future Africa’s industrialization prospects hinge on its ability to balance short-term operational needs with long-term innovation.
The A4A Policy Framework provides a blueprint for achieving this balance through ambidextrous strategies, public-private partnerships, and enhanced investments in innovation and infrastructure. By addressing the continent’s challenges and leveraging its opportunities, the framework o ers a clear path toward a more competitive and prosperous Africa.
As African businesses, governments, and international partners work together to implement the A4A framework, the continent is well-positioned to emerge as a leader in global industrialization and economic development.
Download the A4A Framework today via a4a-gh.org and share your review to help us shape Africa’s industrial future. For partnership or sponsorship inquiries, reach out at info@a4a-gh.org or partnerships@a4a-gh.org.
Newmont Africa's Ahafo South Mine crowned best Company at Ghana Club 100 Awards
Newmont Africa’s Ahafo South Mine has been honoured as the top company in Ghana during the 21st Ghana Club 100 Awards, organized by the Ghana Investment Promotion Center (GIPC). This esteemed event highlights the country’s leading businesses and their outstanding performances.
Retaining its position from last year, Newmont Africa surpassed several prominent competitors. Gold elds Ghana Ltd made a remarkable ascent, jumping from fourth place last year to secure the second spot. Meanwhile, MTN Ghana successfully maintained its place among the top three companies.
The theme of this year’s awards, “Fostering Domestic Champions: Building Local Capacity,” emphasizes the signi cance of strong corporate governance in Ghana’s private sector and aims to elevate local businesses to new heights.
GIPC CEO Yo Grant addressed attendees, underscoring the essential partnership between the public and private sectors. He expressed optimism that such collaboration could lead to meaningful progress for the nation.
Grant also highlighted the pride GIPC takes in honoring companies that have made signi cant
contributions to the Ghanaian economy. This recognition not only celebrates their successes but also inspires other enterprises to pursue excellence.
The awards ceremony recognized the top 100 enterprises from diverse strategic sectors, including agriculture, nancial
As his tenure draws to a close in December, Yo Grant received accolades for his impactful contributions to Ghana and beyond. His leadership has been
instrumental in promoting investment and economic growth within the country.
This year’s event featured three interactive sessions aimed at fostering networking and collaboration among business leaders. The rst session was an Executive Networking Cocktail, providing club members and executives an opportunity to build and strengthen business relationships.
Following the networking session, the main event took place, where honored businesses were presented with their prestigious awards. This recognition serves as a testament to their hard work and dedication to excellence in their respective elds.
The evening culminated in post-event celebrations, featuring vibrant performances from talented artists. Gospel sensation Team Eternity Ghana, alongside Akwanoah and Efya, provided entertainment that enhanced the festive atmosphere of the night.
In summary, the top three companies recognized at this year’s Ghana Club 100 Awards were Newmont Africa (Ahafo South Mine), Gold elds Ghana Ltd, and MTN Ghana.
Tech Experience project in Agona Abodom
In today’s rapidly evolving world, technology is reshaping how we learn, communicate, and solve problems. Its signicance in education cannot be overstated, as it opens new avenues for students to access information, collaborate with peers, and prepare for future careers in an increasingly digital economy.
However, many pupils in underserved areas, such as rural communities, often lack the exposure and resources to take advantage of these technological advancements. Recognizing this gap, the Rotary Club of Accra-SpeakMasters, in collabo-
ration with the Rotary Clubs of Weija-West and Winneba, initiated the TECH EXPERIENCE PROJECT in Agona Abodom, a community in the Agona West Municipality of Ghana’s Central Region, as part of their commitment to community development and education. This project was in partnership with Afrilogic Solutions Limited, an advanced solutions provider and consulting rm.
The primary aim of the project was to introduce basic school pupils to the fundamentals of Information and Communication Technology (ICT) and to inspire them to explore the limitless
opportunities that technology o ers. Through hands-on sessions and interactive demonstrations, the pupils were not only educated on the basics of ICT but also shown how technology can help them pursue their personal interests, whether in science, arts, entrepreneurship, or other elds.
The initiative emphasized the importance of digital literacy in today’s world, aiming to empower these young learners to dream beyond the limitations of their current environment and to imagine a future where technology could be a tool for both personal and communal development. The pupils, comprising 25 participants each from the Catholic, Presbyterian, Anglican
and Methodist basic schools, were introduced to DRONE FLYING, 3D printing, programming, robotics, virtual reality (VR) and augmented reality (AR).
The Tech Experience Project in Agona Abodom is part of Rotary's broader goal of promoting community and economic development in the month of October. The project further covers another aspect of Rotary’s 7 areas of focus which is basic education and literacy. By bridging the digital divide and fostering a tech-savvy generation, initiatives like this ensure that no child is left behind in the digital age. This project not only provided practical skills but also planted seeds of curiosity and ambition in the minds of the pupils, showing
them that technology can be their gateway to endless possibilities.
Rotarian President, Dzifa Sogbe-Adranyi, expressed her delight at seeing the joy on the pupils' faces and their eagerness to learn. She further remarked, ‘it would be wonderful to hear that some of these pupils go on to pursue computer engineering at higher educational institutions.’
Rotarian Nana Nyarkoa Abronoma I, Nkosuo Hemaa of Agona Abodom, was equally excited and hopeful, stating that ‘an intervention like this project can go a long way, and perhaps one day we may have an astronaut or an airline captain from Agona Abodom.’
Rotarian Sam Quadjie, the Service Project director of the club, was impressed by the practical knowledge of technology shared during the project and believed the pupils would return to their schools and share what they had learned. He expressed hope that this project becomes an annual initiative for the club. Immediate Past President Debbie Mangortey noted that the tech project has transformed the minds of the pupils, enabling them to express themselves and demonstrate their understanding of the activities.
The chiefs of Agona Abodom expressed great satisfaction with the project in their community.
Ebusuapanin Yaw Otoo noted that the town faces a signi cant technology gap, making it di cult for pupils to access technology. Despite this, he acknowledged that the project is an excellent initiative that will help students practically understand what they are taught in school. Teachers from the local schools who were present also commended the club for bringing the project to their community. Many were excited to see, for the
rst time, some of the gadgets and equipment they discuss in the classroom.
They further expressed their willingness to participate in a workshop, should one be organized by the Rotary Club of Accra-SpeakMasters and Afrilogic Solutions Limited, to better equip them with the knowledge and experience to teach their students e ectively using these technological tools.
The Afrilogic team, headed by Mr. Samuel Adranyi, emphasized that partnering with the Rotary club of Accra-SpeakMasters on this project aligns with the rm’s mission of bringing technology to rural communities, an initiative they call ‘Tech-on-Wheels.’ He further indicated that ‘we want to make projects like this regular and nd more funding for the teachers to be a
part of the project. If the teachers themselves are not exposed, they would not have the innovative concept or ideas to impart to the pupils.’ He hoped that this tech experience will linger in their minds so that in the near future, the pupils can build on this experience for a better future.
Prince Ko Mensah, a pupil from Abodom Presbyterian Basic School, shared his experience, expressing that he particularly enjoyed the drone ying and Virtual Reality (VR) classes. He aspires to become a doctor and hopes to one day use drones to deliver blood to those in need, in and around his community. Ishmael Amoah, a pupil from Abodom Catholic Basic School expressed interests in becoming a software engineer in the future. He took interests in the
programming and robotics classes. The Rotary Club of Accra-SpeakMasters continues to walk the talk, this time, imparting this generation of pupils with relevant knowledge in ICT and support their growth and academic achievements. Such impactful projects aim to supports career-oriented studies related to economic and community development, further enhancing the capacity for sustainable growth.
A special thank you to our sponsors, Bassofa Regenerative, Yomi, Don Simon and Logic Hub, and to our media partners TV Africa and Angel TV, we are extremely grateful for your support.
Lastly, the success of this project was made possible by the kind curtsy of Afrilogic Solutions Limited
