Business24 Newspaper 16 June 23

By Eugene Davis

Stor y on page 4

Stor y on page 2

By Philip Gebu

Stor y on page 5

Extractives sector is Ghana’s revenue growth pole, IFS reiterates

By Eugene Davis

great potential for domestic revenue mobilization.

According to a senior research fellow and acting executive director of the institute, Dr. Said Boakye, government must negotiate production sharing deals with players in the industry instead of the existing concessionaire arrangements that limits the state’s gain in the sector to only royalty payment and tax payments.

“Government must take steps to increase extractive sector (both oil and minerals) revenue generation through direct state participation or at least production sharing arrangement as part of the government’s medium-term revenue mobilization strategy to be prepared under the programme[IMF], Dr. Boakye told journalists at a press conference on IFS’ Review of government’s 2023-2026 Extended Credit

to 2018, the state garnered US$1.48billion—representing some 6.5percent, in revenue from the sector, whilst the remaining 93.5percent valued at US$21.24billion was held by the private investors.

With all costs deducted, the IFS predicted in an earlier report that mining companies made about US$14.14billion in supernormal pro t for same period of which the government received only 10.5percent when all of which should have come to the state per common understanding.

Meanwhile, government is currently on a US$3billion bailout programme from the IMF to keep the economy a oat, ceding the lion share of revenue from the exctractives sector to private pockets is what the scal think tank described as a awed approach of the state to one of its most lucrative economic sector.

Ghana reclaimed its position as Africa's top gold producer, surpassing South Africa. Large-scale mining companies duction from 2.2 million ounces in 2012 to 3.08 million ounces in 2022, but are yet to fully bene t from its mineral resources.

The Ghana Chamber of Mines at the Mining and Energy Summit last week asked government to develop policies and programmes which seek to improve businesses’ performance rather than “squeezing everything” out of them through taxes and levies.

According to the President of the Ghana Chamber of Mines, Mr. Joshua Mortoti, the mining sector is being hit with so many taxes to the point that it could shut down some operations and also put new investments on hold, if the tax regime is not reconsidered.

However, in responding to a question on the chamber’s position on being burdened with many taxes, Dr. Said Boakye reckons it is “most unfair, we are arguing that the

…as it urges active state participation

whole regime of giving concessions is wrong, -now concession has been given to you and you are extracting publicly endowed resources and you are complaining that you are being overtaxed.

Dr. Boakye noted that the resources belong to the state and the “normal thing to do is when you extract it, we pay you the cost of extraction and give you something extra on top or normal pro t.”

Lands and Natural Resources

Minister, Samuel Abu Jinapor at the same event conceded

that the country had in the past not done very well in negotiations for the extraction of its mineral resources.

“Some of our policies and contracts have, unfortunately, resulted in extraordinary profits to mining companies at the expense of the country.

We had, until recently, failed to put in place a proper framework that will ensure that we bene t optimally from these resources,” he stated.

Over the past decade, a number of African govern-

ments have reviewed mining contracts, seeking to recalibrate partnerships and increase their share of mining revenues.

Last year, Democratic Republic of Congo - the world’s biggest producer of cobaltrewrote its mining code, ignoring the objections of miners. It canceled existing stability clauses in contracts and raised royalty rates across the board.

Available data showed that the extractive sector continued to be the major contributor to illicit nancial ows from the

continent.

Illegal exploitation, tax evasion, trade mis-invoicing, transfer pricing and under-declaration, were just a few of the practices contributing to the menace.

The Africa Centre for Energy Policy (ACEP) reports that illicit nancial ows from Ghana through trade mis-invoicing averages about $1.44 billion per year with export under-invoicing and import over-invoicing accounting for almost one billion dollars.

Embrace coaching for business growth -BCA boss tells African leaders

By Eugene Davis

Dr Amoako said the 2025 would mark the beginning of the second quarter of the 21st century and the period the new government would assume power in the country.

The two-day event organised by the Breakfast Club Africa (BCA) Leadership was on the theme “Making Africa Work for African: Collaborations and Partnerships,” was attended by Chief Executive O cers, Managing Directors and captains of industry from about 19 countries in the World.

development of the country.

Dr Amoako said his vision for a united and prosperous Africa, would require economic, social and political transformation of African economies. He called for e ective and transformative leadership to promote the development of the African continent.

urged to adopt coaching as an e ective management tool at all levels of their work, as they strive for business excellence and other leadership roles.

The Board Chairperson of the BCA Leadership, Madam Charity Chanda Lumpa, who spoke on leadership said it was critical for the development of Africa, saying e ective leadership required resilience and adaptation.

She made the observation in Accra on Wednesday during the 5th Made in Africa Leadership Conference, a Pan-African Leadership Enhancement Conference for African leaders, leaders should not be autocratic and should have the ability to understand and empathetic to the emotions and needs of their subordinates.

Madam Lumpa urged leaders to make well-informed deci-

sions and a timely manner and at the right time.

The Board Chairman of the BCA Leadership called on leaders to pursue coaching programmes, stressing that coaching facilitated learning and feedback.

Madam Lumpa also called for diversity in leadership, indicating the gender diversity in leadership enhanced productivity.

The President and Founder of African Center for Economic Transformation (ACET), Dr K.Y Amoako, cautioned that the next two and a half decades between 2025 and 2050 will remain critical moments for the transformation of Ghana,

He has therefore called on the government to prepare and initiate strategies to transform the Ghanaian economy.

Dr Amoako, who had worked with the World Bank and United Nations for several decades, said Ghana had achieved a lot and was a champion of Pan-Africanism, and integration of Africa. However, he said, there was much to do to address poverty and promote the socio-economic development of the country.

Dr Amoako said in line with the development agenda of Ghana for the next 25 ve years from 2025, that ACET had developed a programme to seek the inputs of the various political parties and stakeholders on the social, political and economic policies of the country.

Dubbed Compact with Ghana, Dr Amoako said the programme was to engage the various political actors and stakeholders on to seek their views on their policies for the

He commended BCA Leadership for organising the programme to bring leaders in Africa together to discuss the leadership and progress of the African continent.

The Chief Executive O cer of BCA Leadership, Mr Modupe Taylor-Pearce, CEO of BCA Leadership, said the conference, the 5th edition, was intended to boost the continent's economic development.

He said the programme was to bring together transformational leaders, innovators, and entrepreneurs to spark new ideas, forge new partnerships and catalyse social, economic and developmental change for leaders in Africa.

Mr Taylor-Pearce said the conference would discuss topics on technology, leadership and there would also be coaching and mentoring and peer learning sessions for the participants.

Absa Bank unveils winners of Premier League campaign

Absa bank, Charles Addo said “The campaign is a signi cant platform to engage our customers across all our digital touchpoints and to encourage them to use and bene t from our credit and debit cards. The patronage we receive every year is truly satisfying and re ects the strong connection we have with them.”

promotion, "the Card Assist Campaign."

As part of its ongoing partnership with the English Premier League, Absa leverages this platform to engage clients and customers across the continent.

customers to seamlessly manage their transactions using Absa's contactless cards.

Michael Gyan-Nyarko emerged as the ultimate winner, earning an all-expenses-paid trip to the UK to watch an English Premiership game when the league resumes in

Gyan-Nyarko stood out as the customer with the highest number of card transactions in both value and volume throughout the campaign.

At the presentation ceremony at the bank’s head o ce in Accra, Director of Retail Banking at

In addition to the grand prize, approximately 60 customers were awarded a range of prizes, including home appliances, Premier League-branded souvenirs, and shopping vouchers.

The Card Assist promotion serves as a customer-focused campaign aimed at encouraging sign-ups, reactivation, and utilization of Absa bank's contactless cards.

Emirates, Kenya Airways enter interline partnership to offer more travel options between Africa and the Middle East

among others.

Emirates and Kenya Airways (KQ) have announced an interline partnership that will allow customers of both airlines access to new destinations on the two airlines’ networks within a single itinerary. The agreement will provide customers including Ghanaians, with increased travel options as well as seamless baggage check-in to their nal destination.

Emirates customers including Ghanaians will now be able to

y to 28 destinations on the Kenya Airways network using Nairobi as the gateway to destinations such as Nampula, Bangui, Bujumbara, Kigali, Dzaoudzi, Lubumbashi, Kinshasa, Kilimanjaro, Juba, Zanzibar, among many other regional points across Africa. Additionally, as part of a bilateral interline arrangement, Emirates passengers travelling via Dubai can also book a single ticket itinerary from or

to Mombasa, one of the most popular leisure destinations in Kenya. Similarly, Kenya Airways passengers travelling from Nairobi and Mombasa will now be able to access the Emirates’ network and seamlessly connect through Dubai to 23 destinations across West and South Asia, the Far East, the Indian Ocean and Middle East such as Singapore, Tokyo, Bangkok, Ahmedabad, Beirut, Hong Kong, Jakarta, Seoul

Adnan Kazim, Chief Commercial O cer, Emirates said, “We are pleased to ink our rst partnership with Kenya’s ag carrier. Kenya is a strategic gateway in our Africa network, and this new interline agreement will enhance connectivity for Emirates’ customers and provide them more travel choices across the continent. We look forward to deepening our relationship with Kenya Airways, o ering greater network opportunities and improving connections for both of our customers.”

Speaking on the agreement Julius Thairu, Chief Commercial and Customer O cer Kenya Airways said, “This partnership will provide the ideal gateway for our customers as we seek to increase our connectivity between Africa and the Middle East through Emirates’ hub in Dubai. Partnerships like these are key in

aviation as they take advantage of mutual scale and e ciencies to provide customers with more seamless travel options.”

Tickets are available to purchase on emirates.com, online travel agents (OTAs) as well as through major travel agencies. Emirates began operations to Kenya with the launch of ights between Nairobi and Dubai in 1995, and since then it has steadily grown the route to 14 weekly ights, having own over 5 million passen-

gers through the years. Emirates is also the only airline serving Kenya with private, enclosed First Class cabins, o ering premium customers a superior experience across every touchpoint of their journey.

Kenya Airways recently launched direct ights between Mombasa and Dubai o ering customers 4 weekly ights. The ight from Moi International Airport, Mombasa marked the second hub, other than its Jomo Kenyatta

International Airport, that the carrier connects passengers directly to the UAE. KQ currently operates ten weekly ights to Dubai from Nairobi using a mix of B737-800 and the Dreamliner B787-800.

Travellers to and from Kenya can look forward to the comfortable cabins and the unmissable signature Emirates products and services. Guests in all classes can enjoy an unmatched culinary experience in the skies with regional-

ly inspired multi-course menus developed by a team of award winning chefs complemented by a wide selection of premium beverages. Customers can sit back and relax with more than 6,500 channels of carefully curated global entertainment content featuring movies from East Africa, TV shows, African music, podcasts, games, audiobooks and more with ice, Emirates’ award-winning in ight entertainment system.

Making Ghana the Medical Tourism Centre for West Africa- Part 1

tendent of the hospital emphasized that they receive patients from Togo and Benin. This indeed con rms that Ghana is on the way to be a hub for medical tourism in West Africa. What is needed is to develop a strategic plan.

What is Medical tourism?

Medical Tourism

for a disease, ailment or medical procedure.

One may ask; is Medical tourism the same as Health tourism?

What is Health Tourism?

By Philip Gebu

There have been calls and plans to make Ghana the centre for Medical Tourism in West Africa. Recently Senior Presidential Advisor Yaw Osafo-Maafo charged the Korle-Bu Teaching Hospital to focus on developing some of its centres for medical tourism. He said the establishment of the National Radiotherapy Oncology and Nuclear Medicine Centre has contributed to boosting medical tourism as people from other countries travel to Ghana to seek medical care.

“The National Centre for Radiotherapy Oncology and Nuclear Medicine have saved this country huge amount of foreign exchange because you can imagine those we are treating now if they were all to be nding treatment outside our shores…all this now taking place here. But most important thing is that the Centre is developing what I call medical tourism. A lot of people in the sub-region are coming down to get treatment from that Centre and this is one big advantage Korle-Bu should take as a policy to develop some centres as medical tourist centres because people believe in the Ghanaian skills and people will come down within our sub-region to get treatment and pay for it in dollars,” he said.

I attended a function in Volta Region and the medical superin-

There is no general consensus on the de nition of medical tourism. Some de nitions are broad. For example, Deloitte (2008) de nes medical tourism as the ‘act of travelling to another country to seek specialized or economical medical care, well-being and recuperation’. Such a de nition may be interpreted as including travel that seeks to enhance personal health and well-being, including through authentic and location-based therapies. Wellness tourism, is sometimes included in a broad de nition of the medical tourism industry, thus some studies use the term medical and wellness tourism instead of medical tourism alone. Other de nitions are much narrower, considering only travel for the purpose of receiving treatment

According to a report entitled Medical and Wellness, Lesson from Asia, Health tourism encompasses both medical tourism (based on western medicines) and wellness tourism (based on traditional therapies such as Ayurveda). She refers to medical tourism as the act of travelling to foreign countries to seek ‘western-style’ medicine treatments and procedures (elective surgeries such as cosmetic, dental and plastic surgery as well as specialized surgeries such as knee/hip replacement, cardiac surgery, cancer treatments, fertility, orthopaedic therapy etc.). Wellness tourism, on the other hand refers to authentic or location-based experiences/therapies such as Yoga, Ayurveda, use of local medicines etc. The main di erence between health tourism and medical tourism is that health tourism does not involve any medical treatment or procedure. Health tourists usually travel to other countries to seek alternative treatments for

conditions that cannot be treated in their home country. Medical tourism, on the other hand, involves traveling to another country for medical treatment or procedures. Medical tourists often travel to countries where the cost of medical care is cheaper than in their home country. They may also travel to countries with better medical facilities and more experienced doctors. Ghana o ers other alternatives form of treatment apart from treatments in KorleBu. These other form of tourists According to Market.us, the global  medical tourism market accounted for USD 11.7 billion in 2022 and is projected to reach USD 35.9 billion by 2032, exhibiting a CAGR of 12.2% in the forecast period (2023-2032). Medical tourists travel internationally to improve their health and access low-cost healthcare services unavailable in their home country. Tourists can receive various medical services, including dental, neurological, or cardiovascular treatments. Medical Tourism o ers many bene ts, including improved hospitality, personalized care, cutting-edge technology, and novel medicines. It also provides better health-

care.Get additional highlights on major revenue-generating segments, Request a medical tourism market sample report at  https://market.us/report/medical-tourism-market/request-sample/

Key Takeaway:

By service type, the medical treatment section dominated the market in 2022 because of the increase in the demand for medical processes dental, orthopedic, cardiology, and spine.

By service provider type, the  private segment dominated the market in 2022 because the number of providers giving world-class facilities is increasing.

In 2022, North America dominated the market with the highest revenue share of 35%.

Asia-Paci c is expected to grow at a high CAGR during the forecast period due to the increasing preference for medical tourism in the region.

Insu cient insurance pro ts and lack of local healthcare insurance are two factors that will encourage market expansion. The industry's growth is also supported by the increasing demand for services that are not covered, such as

dental reconstruction, common removal surgery, aesthetic surgery, and reproductive therapy.

Factors a ecting the growth of the medical tourism industry?

Several factors can a ect the growth of the medical tourism industry. Some of these factors include:

Low-cost surgeries: Countries like India and Thailand are providing fast and low-cost surgeries, positively a ecting the market growth.

Increasing quality of surgeries:  The increase in the accessibility of high medical-quality surgeries, like cardiovascular and dental surgeries, is one of the major driving factors for the market growth. Technological advancements:  The use of advanced technologies in healthcare industries, especially in medical devices, surgical processes, etc., is a ecting the market positively.

Declining COVID-19 cases: As the COVID-19 cases began to decrease, the travel restrictions also have been lifted, which is helping the market grow further.

Top Trends in Global Medical Tourism Market

The most important trend driving the growth of the global medical tourism market is active consumer preference for cosmetic procedures. As COVID-19 cases began to decline, travel restrictions have been removed, and the demand for postponed or delayed functions has grown. As people have become more aware of their appearance and personal care, cosmetic procedures such as body fat removal and treatment for acne have seen an increase in demand.

American Academy of Facial and Reconstructive surgery (AAFPRS) reported increased appointments and treatments for facelifts, eyelifts, and other procedures, despite the COVID-19 pandemic. People are more inclined to choose these procedures in countries with skilled specialists and high-quality care. This will positively impact the market's growth over the forecast period.

Market Growth

The world is becoming more open to utilizing advanced medical technology in surgery, medical devices, and related healthcare. Patients can now access informa-

tion and communication technology, telemedicine, and telehealth worldwide. As a result, they can consult, book appointments with specialists, and receive high-quality care without hesitation. This has resulted in an increase in inbound tourism to developing countries like India and Thailand. In addition, the availability of quality medical structures and lower costs have led to a greater demand for a ordable treatment, helping the market grow.

Philip Gebu is a Tourism Lecturer. He is the C.E.O of FoReal Destinations Ltd, a Tourism Destinations Management and Marketing Company based in Ghana and with partners in many other countries. Please contact Philip with your comments and suggestions. Write to forealdestinations@gmail.com / info@forealdestinations.com. Visit our website at www.forealdestinations.com or call or WhatsApp +233(0)244295901/0264295901. Visist our social media sites Facebook, Twitter and Instagram: FoReal Destinations.

Vodafone commits to environmental sustainability with tree planting initiative

In a bid to bolster the government's Green Ghana initiative, Vodafone Ghana embarked on a tree planting exercise, demonstrating its commitment to environmental preservation. The event, held on June 9, 2023, at Accra Girls SHS, was attended by a diverse group of participants, including VGMA Green Award winner Worlasi, sta of Ayawaso North Municipal Assembly, Agro Ecom, sta of the Vodafone Ghana Foundation, the HR Director of Vodafone Ghana, Hannah Ashiokai Akrong, and the Director for Legal and External A airs at Vodafone Ghana, Preba Greenstreet. Preba Greenstreet emphasised the company's dedication to environmental stewardship. "As custodians of our planet, we have a solemn duty to protect and preserve it. Vodafone's nationwide presence provides us with an opportunity to demonstrate our commitment to sustainability and to actively contribute to greening Ghana," she said.

Preba further highlighted the company's vision of providing environmental bene ts wherever it operates. "We aim to plant trees that will o er shade, sustenance, and

fruits, contributing to a greener Ghana, cleaner air, beautiful scenery, and improved mental health," she added.

The event also saw the participation of Accra Girls SHS, represented by Assistant Head of Administration, Gladys Kuetuadu. She revealed that the high school has been actively involved in the Green Ghana initiative since its inception. "We have successfully maintained 90% of our trees," she proudly announced, expressing optimism about the partnership with Vodafone Ghana to expand the country's green cover.

Ms. Kuetuadu also appealed to the Vodafone Ghana Foundation to assist in refurbishing the school's ageing structures to prevent the need for new construction that could lead to the uprooting of mature trees and the destruction of the school's virgin forest.

Vodafone Ghana's commitment to environmental sustainability is not new. Since 2016, the company has been actively involved in protecting lands from degradation and exploitation through its Green Awards initiative which include recognising artistes who promote the green agenda at the Vodafone

Ghana Music Awards, digitalising its top-up process to the point where, as of 2022, the company has ceased scratch card production entirely. Vodafone Ghana has also adopted about 45 plots of land, the largest the be adopted by any corporate entity in Ghana to ensure the sustainability of the Achimota forest.

Additionally, Vodafone Ghana's solarisation e orts are supporting

the environment by reducing greenhouse gas emissions. The company has started with the solarisation of two key exchanges in Accra – Dansoman and Achimota.

The solarisation projects are part of Vodafone Ghana's strategy to take full control of its electricity requirements, manage them more e ciently, and reduce costs.

The Africa We Want Series with Baptista.

Without necessarily sacri cing our sovereignties, we can forge a political union based on defence, foreign a airs and diplomacy, and a common citizenship, an African currency, a monetary zone and a central bank. We must unite in order to achieve the full liberation of our continent.” – Osagyefo Dr. Kwame Nkrumah. "Unity is strength, division is weakness." Says a Swahili African proverb. A strong, united, resilient and in uential global player and partner is the Africa We want utilizing its natural resources fully to support the international development of the African continent.

This is very possible and doable. His Excellence President Akufo-Addo, other African and Caribbean leaders headline Afreximbank’s (Bank) 2023 Annual Meetings in Accra this weekend.

The mission and vision statements of the Bank is “to stimulate a consistent expansion, diversi cation and development of African trade, while operating as a rst class, pro t-oriented, socially responsible nancial institution and a center of excellence in African trade matters, looking forward to be the trade nance bank for Africa. Finance helps businesses for multiple purposes, ranging from enhancing working capital, expansion, purchasing new assets, replenishing stock, hiring more sta , or re nancing to pay o existing debt at minimum amongst others. Why the, do we need Afreximbank to support the international development of Africa.African Development Bank (AfDB's) primary objective is to assist African countries –individually and collectively - in their e orts to achieve economic development and social progress. The institution's main challenge is to reduce poverty on the

By Baptista S. Gebu (Mrs.)

continent. To this end, the African Export-Import Bank (Afreximbank) which is a pan-African supranational multilateral nancial institution was created in 1993 under the auspices of the African Development Bank. Its purpose is the nancing, promoting and expanding of intra-African and extra-African trade. It was established by African governments, African private and institutional investors, and non-African nancial institutions and private investors. African Export–Import Bank, also referred to as Afreximbank or Banque Africaine d’Import-Export was o cially launched at the rst general meeting of the shareholders in Abuja Nigeria in West Africa in October 1993. Headquartered in Cairo Egypt, the bank is a nancial provider to African governments and private businesses in support of African trade.

Don’t forget the blueprint and master plan for transforming Africa has considered and is working towards an Africa which has an integrated high speed train network with an African commodities strategy, a functioning African Continental Free Trade Area (AfCFTA) operating an African passport where free movement of people is enabled and not perceived free moment with porous borders, silence the guns, be able to implement the grand INGA Dam project and establish a single African air-transport market, an annual African Economic Forum, an African nancial institution, the Pan –African e-network, the Africa outer space strategy, an African virtual and E-University and be able to put in place a cyber-security, great African museum as well as an encyclopedia about the continent.

Considering the promotion of African trade, my previous article highlighted that, AfCFTA is the largest free trade area in the world

measured by the number of countries participation with a combined gross domestic product of $3.4 trillion as it connects 1.3 billion people, now 1.4 billion people across the 56 countries. As at December 2022, 54 out of the 55 member states of the AU signed the AfCFTA agreement where 44 African countries deposited their instrument of rati cation with the African Union commission. The interesting bit of the discourse is that, AfCFTA has the potential to lift 30 million people from extreme poverty as it’s expected to boost Africa’s income by some $450 billion by the year 2035 representing a 7% gain.

The creation of this single market for goods and services will allow African countries to trade amongst themselves duty-free and quota-free. The agreement to establish this AfCFTA was signed far back in March 2018 in Rwanda on the 21st day in Kigali however trading o cially commenced on January 1, 2021. And commercially meaningful trading o cially also started in October, 2022 exactly on the 7the day of the month. Afreximbank has some 50 African member-countries with four regional locations in Harare, which serves countries covering its Southern African zone. Abidjan covering countries in francophone Western Africa. Abuja for Anglophone West Africa, Kampala for Eastern Africa as well as Yaoundé covering countries in Central Africa with its Representative O ce in the Caribbean yet to be announced.

Established in 1993 to promote and nance extra- and intra-African trade, the Agreement establishing the Bank and the Bank’s Charter were adopted at the constituent general assembly meeting of the Bank held at the AfDB headquarters in Abidjan on 8 May 1993. All the countries

demanding to become participating states in the Bank signed the Agreement and states that wanted to become shareholders signed its Charter. The Bank Agreement confers on the Bank the status of an international organization with full juridical personality under the laws of participating states. Under the Agreement, participating states grant to the Bank, in their territories, certain immunities, exemptions, privileges, and concessions to facilitate the Bank’s business in those territories. Being launched in October 1993, its rst General Meeting of Shareholders took place in Abuja where they began operations in 1994 and concluded its rst deal that year by participating in a $150-million syndicated loan to the Cocoa Board of Ghana to which it contributed $6.5 million. I think, its therefore not a mere coincidence Ghana is to host its 30th Annual General Meeting and celebration from this weekend at the Accra International Conference center where His Excellence President Akufo-Addo, other African and Caribbean leaders are scheduled to headline the Afreximbank’s 2023 Annual Meetings, which also is its 30th anniversary. From South Africa, to Egypt last year, Ghana will be hosting this very important business meeting. The four-day Afreximbank Annual Meetings (AAM2023), is being held under the theme, delivering the vision: building prosperity for Africans, which will feature keynote addresses, panel discussions, plenaries and reside-type conversations focusing on African trade, trade nance and development issues, including the implementation of the AfCFTA. The Bank’s annual meetings are attended by business and political leaders, banking industry professionals, trade and trade nance practitioners and other parties involved in economic development from across Africa and beyond where

this meeting have been ranked among the most important gatherings of economic decision makers in Africa, and are covered by the African and international media. Ghana is hosting AAM2023, and should be your investment destinations because; there is availability of skilled and trainable labour, with one of the most competitive minimum wages in the West African sub region. The country possess one of the highest literacy rates in the West African sub –region and has a growing middle class population with stable democratic climate and geographically closer than any other country to the center of the planet with an average of 8 hours of ying time to Europe and the Americas. Ghana has been ranked the second most peaceful African country in the world according to the 2022 edition of the Global Peace Index report for 2022.

The Africa we want shall be a strong, united, resilient, peaceful and in uential global player and partner with a signi cant role in world a airs. The ideal Africa shall be a major partner in global a airs with peaceful co-existence taking full responsibility for nancing her development. This we can achieve by improving Africa’s partnerships and refocusing them more strategically to respond to African priorities for growth and transformation; and ensuring that the continent has the right strategies to nance its own development and reducing aid dependency. As evidence, trade and not aid is what Africa needs.

The Africa we want is possible and attainable but we rst need a change mindset to accept this reality as we pull in investment for development. The complete Africa-nization of our body, soul and might is needed now more than ever and our ability to emancipate ourselves also from mental slavery and accept the grass is greener here in Africa because we have and possess most rich natural mineral resources. We need that change mindset rst.

“Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family”.

The Africa we want in the Agenda 2063 blueprint has some challenges. There are challenges in nancing the Agenda 2063. There is recognition within Africa that the continent needs to tap into its own wealth to nance its development agendas, most notably the African Union’s Agenda 2063. Signi cant e orts have been made to map the untapped alternative sources of nancing from within Africa.

Some of the main nancing challenges of Agenda 2063 include: lack of nancial resources, inadequate infrastructure and limited access to nance: The African Union has identi ed that one of the main challenges facing the implementation of Agenda 2063 is the lack of nancial resources. Inadequate infrastructure is another challenge facing its implementation. The AU identied the need for signi cant investment in infrastructure development in order to achieve the goals set out in Agenda 2063. Limited access to nance is another challenge facing the implementation of Agenda 2063 where the need for increased access to nance for small and medium-sized enterprises (SMEs) in order to promote economic growth and development is needed. Africa is rich in natural resources ranging from arable land, water, oil, natural gas, minerals, forests and wildlife. The continent holds a huge proportion of the world’s natural resources, both renewables and non-renewables so why is this not re ecting all across board?

According to research from the UN Environmental Programme, mapping Africa’s natural resources from Al-Jazeera, and the National Geographic Soci-

ety’s Africa resources report; some African countries house these natural resources; Algeria has petroleum, natural gas, iron ore, phosphates, uranium, lead, zinc. Where Angola also owns petroleum, diamonds, iron ore, phosphates, copper, feldspar, gold, bauxite. Benin is home to small o shore oil deposits, limestone, marble, timber. Botswana to diamonds, copper, nickel, salt, soda ash, potash where Burkina Faso is to manganese, limestone, marble; small deposits of gold and diamonds. Burundi is to nickel, uranium, rare earth oxides, peat, cobalt, copper as Cameroon is home to petroleum, bauxite, iron ore, timber, hydropower. Cape Verde is home to salt, Central African Republic also to diamonds (especially at Carnot), gold (at numerous sites throughout the country), and uranium (in the region of Bakouma). Chad is home to petroleum (including recently discovered reserves), uranium (in the north), natron (a salt like chemical used in soap manufacture), gold and Comoros is to small mineral resources; marine salt. Congo (Brazzaville) to petroleum (mostly o shore), timber; potash; lead; zinc; uranium; copper; phosphates; gold; magnesium; natural gas; hydropower. Congo (Kinshasa) to cobalt (world’s largest producer), copper (world’s ninth largest producer), diamond (world’s fth largest producer by volume). Whiles Cote d'Ivoire to o shore oil and natural gas deposits. Djibouti houses geothermal areas. Egypt to petroleum products and related goods such as fertilizers and minerals including iron ore and phosphates. Equatorial Guinea to petroleum (o shore), timber. Eritrea to gold, potash, zinc, copper, salt, possibly oil and natural gas.

Eswatini (Swaziland) to asbestos, coal, clay, cassiterite,

hydropower where Ethiopia to small reserves of gold, platinum, copper, potash, natural gas, hydropower. Then Gabon to petroleum, manganese, uranium, gold, timber and Gambia to silica sand. Ghana is the continent’s largest producer of gold, followed by South Africa and Mali. Ghana also houses cocoa beans, diamonds, manganese, and bauxite reserves, limestone, iron ore, salt, oil and natural gas reserves, sawn wood, timber amongst others. Guinea houses bauxite (world’s largest reserves), aluminum, iron ore, diamonds, gold, uranium and Guinea-Bissau to sh. Kenya to limestone, soda ash, salt, gemstones. Lesotho to diamonds, Liberia to iron ore, timber, diamonds. Libya to petroleum products and related goods such as fertilizers and minerals including iron ore and phosphates. Madagascar to graphite, chromite, coal, bauxite, rare earth elements. Malawi to limestone, arable land. Mali to gold (third largest producer in Africa) and cotton. Mauritania to iron ore (large deposits), gypsum, Mauritius to arable land and Morocco to phosphates (world’s largest reserves), lead, zinc, silver. Mozambique to coal (world’s ninth largest reserves), titanium. Namibia to diamonds (world’s eighth largest producer by volume), uranium (world’s fourth largest producer). Niger to uranium (world’s fourth largest producer), coal then Nigeria to petroleum products and several other resources from Africa. These richness in natural resources must re ect in the economic gains and wellbeing of its citizenry. This is the Africa we want, which must also tell the African story the African way. Baptista is the author of the book: Prepare for the Future of Work and the CEO of FoReal HR Services in Ghana. As a Hybrid professional, building a team of e cient & e ective workforce is her business. A ecting lives is her calling! She is a Public and Keynote Conference Speaker, a Professional Connector, Trade Facilitator and a Researcher. You can reach her via e-mail on bap.tista@outlook.com Follow her social media pages @Sarahtistagh and the hashtag #theFutureofWorkCapsules #FoWC, #forealhrservices #TheAfricaWeWant

CIDAN INVESTMENTS LIMITED

WEEKLY MARKET REVIEW FOR WEEK ENDING

June 2, 2023

CIDAN INVESTMENTS LIMITED

WEEKLY MARKET REVIEW FOR WEEK ENDING

June 2, 2023

CIDAN INVESTMENTS LIMITED

WEEKLY MARKET REVIEW FOR WEEK ENDING June 2, 2023

How Simply Irresistible is turning Soho Bar into Accra’s preferred venue for corporate hideout

The Soho Bar, situated in the heart of Marina Mall, Accra, is fast becoming the go-to place for corporate hideout in Ghana every weekend through A-Town Entertainment's Simply Irresistible which is so far Ghana's only entertainment event for corporate executives.

Soho Bar hosts several workers and top executives who meet to network and party after a long week of work. The event provides 100 percent fun, with attendees mostly dressed in a very smart and sophisticated manner. The Soho Bar is arguably the number one Bar in Ghana currently, providing top-notch services. The Bar serves a variety of Continental dishes and drinks at a ordable prices plus the fun-packed activities on every Friday night.

The partying usually begins at 7pm and ends around 4am every Friday.

One of the key features of Simply Irresistible is the opportunity it provides for people to book to have their birthdays celebrated at the Soho Bar with live band performance by the Liv North & The Soho Band and a medley of great tunes from renowned and award-winning Ghanaian disc

jockeys. The Liv North & The Soho Band, an all-girl band, is currently one of the best bands in Ghana, always performing much to the delight of music lovers.

A-Town Entertainment's Founder, Michael Mensah Ayenu, popularly known as DJ Mensah, has reported that more and more people are now booking to celebrate their birthdays during Simply Irresistible at the Soho Bar.

There are usually performances from artistes, magicians, dancers and comedians at the beginning of Simply Irresistible every Friday night before DJ Mensah, DJ Aligation, DJ Juicy, DJ Solo, DJ Baylor, DJ Phantom, and DJ/MC Vyper take over the oor.

Simply Irresistible is a business event designed for metropolitan elites and mature ravers. It is de ned by eternal blissful moments and a profound self-awakening experience with a variety of music, drinks and foods. Simply Irresistible is always organised in a setting of distinction and elegance. Simply Irresistible, which used to be held at the Movenpick Hotel, is absolutely an event worth attending every Friday evening after a long week of work.