Business24 Newspaper 22 March 23

Ecobank is Ghana’s best trade

By Eugene Davis

Ecobank Ghana, part of the leading pan-African banking Group, Ecobank, has been named Ghana’s ‘Best Trade Finance Provider 2023’.

Ecobank Ghana beat a host of other banks to win the prestigious award during the Global Finance magazine’s World’s Best Trade Finance and Supply Chain Finance 2023 Awards, held during the BAFT Europe Bank-to-Bank Forum in London.

Daniel Sackey, Managing Director, Ecobank Ghana & Regional Executive AWA, said: “We are positioning to be the preferred trade, payments and collections bank for SMEs and corporates, as we support and facilitate them to grasp the immense growth opportunities created by Africa’s new single

market. We are maintaining our key focus on commodities nancing, improving our customers’ experience, and leveraging our digital banking initiatives. This award provides welcome public recognition of our bene cial impact and is a tribute to the hard work, diligence, dedication, and intense customer-focus of our sta on a daily basis.”

In selecting Ecobank Ghana as the best trade nance provider, Global Finance’s judges took into account input from industry analysts, corporate executives and technology experts. Criteria for choosing the winner included transaction volumes, scope of global coverage, customer service, competitive pricing, and innovative technologies.

Ecobank Ghana provides comprehensive trade solu-

tions to its customers, using various payment methods to facilitate cross-border and domestic trade throughout and beyond its network across Africa. Ecobank o ers unique intra-Africa trade solutions, enabling its customers to settle their domestic and international trade transactions e ciently while mitigating payment risks. Ecobank works closely with clients in reviewing key aspects of transaction processing, including Settlement, Financing, Risk Mitigation, Credit Enhancement, and applicable Exchange Control Regulations.

Its Trade Products and Solutions include Structured Trade & Commodity Finance (customers bene t from adequate, mitigated credit facilities); Trade Services (customers experience speedy turnaround and error-free processes); Supply Chain Finance (one-stop end to end value chain and supplier nancing locally and across regional corridors). Trade services provided include import/export Letters of Credit; import/export collections; bills avalisation (SBLCs, guarantees, bid, performance and other bonds; regional trade payments); Rapidtransfer (cross-border remittances); and international payment services.

Bi-partisan approach needed in passage of revenue bills – Fin.Comm Vice chair

By Eugene Davis

The Vice Chairman of the Finance Committee of Parliament, Patrick Yaw Boamah has called for a bi-partisan approach towards the passage of the outstanding revenue bills in parliament

Three remaining bills; Growth and Sustainability

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Bill,2022, Excise Duty Amendment Bill,2022, Income Tax Amendment (2) Bill,2022 are yet to be approved by Ghana’s lawmakers, prompting the President to appeal to the legislature to prioritise it approval when he delivered the State of the Nation Address last week.

The approval of the bills, is expected to bring it one step closer to securing a $3 billion IMF bailout, to restore macro-economic stability, ensure debt sustainability as well as provide critical social protection for the bene t of Ghanaians.

Speaking exclusively to Business22, Mr. Boamah, who is also the Member of Parlia-

ment for Okaikwei Central, said “I am asking for bi-partisan approach towards the passage of these bills and revenue measures as provided for in the economic policy of government; we have all come to an understanding that we need an IMF programme, whether you are in Party A or B, so that bipartisan approach ought to be reiterated.”

Further he stated that the revenue measures that ought to have been approved or passed with the appropriation and nancial and economic policy for 2022, but for some reason, [as the nance committee we looked into it, prepared our reports, but we were unable to take them through the bill making processes as provided for under the constitution and our standing orders.]

He explained that “for example one of the bills sought to raise a whooping GH¢ 2.2bn, the Growth and Sustainability Bill [annually] which was a bill aimed at raising close to GH ¢ 2.2bn as a revenue measure, the second one is the Excise Duty Amendment bill,2022 and the scal impact of the bill was to raise monies as a result of taxation on tobacco and other harmful items.

The excise duty bill was going to raise over GH¢455m to support the 2023 budget, and the scal impact for the income tax was close to GH¢1.3bn, so you recall that the president was asking for consensus building in the passage of these bills and my view is that we spent a lot of time on some activities on the oor than to the non-passage of

this very important bills, that is why the president reiterated in his call during the SONA.”

The passage of these Bills will enable Government to complete four (4) of ve (5) agreed Prior Actions in the Sta Level Agreement since Tari adjustment by the PURC, Publication of the Auditor-General’s Report on COVID-19 Spending, and Onboarding of GETFUND, DACF and Road Fund on the GIFMIS have all been completed.”

Ghana is battling its way out of a generational economic crisis by hiking interest rates at record speeds, cutting spending, and restructuring its debt as a condition to obtain support approval from the IMF's Executive Board.

US announces $5m partnership funding for Ghana health insurance

building NHIA systems to monitor clinical quality of health care services. This actionable clinical data will help NHIA advocate for improved quality of care across public, faith-based and private health care facilities contributing to improved health outcomes across Ghana,” the release said.

The United States government has announced a $5 million partnership funding for Ghana’s health insurance system.

The US Ambassador to Ghana, Virginia Palmer, in a statement announced $5 million in new funding to improve the performance of the National Health Insurance Scheme (NHIS) and ensure quality of health services in Ghana.

The funding, the statement

says, will support the digitization of National Health Insurance Authority (NHIA) processes, make available the Scheme’s performance data, and ensure that health services delivery is safe and e ective.

“The health sector is at the core of Ghana’s development.

It is essential for the wellbeing of all Ghanaians that funding for health is prioritized. A healthy population is the basis

for a prosperous population,”

Ms Palmer said at the launch.

The partnership between the NHIA-USAID aims to improve the NHIA’s capacity to digitalize all its information systems.

“Digitalization will make data available to NHIA to better communicate the Scheme’s nancial and programmatic status to stakeholders. The partnership will also focus on

It notes that the USAID’s integrated health programming supports the Government of Ghana in the areas of health system strengthening, maternal, reproductive, newborn and child health, as well as malaria, HIV, social protection, water, sanitation and hygiene, global health security, and COVID-19. USAID supports the Government of Ghana to build a more resilient health system and prepare Ghana to face future health emergencies, it added.

The Ambassador joined the Chief Executive O cer of the NHIA, Dr. Bernard Okoe Boye, to launch the partnership.

Vodafone Cash leads the charge for digital

Vodafone Cash has highlighted its commitment to improving nancial inclusion in the country at the Mobile Technology for Development Conference (MT4D, 2023), themed “Driv-

ing Digital Financial Inclusion in the Real Economy.”

Vodafone Cash sponsored the event held at the Kempinski Gold Coast Hotel in Accra to

foster collaboration among industry players and strengthen e orts toward nancial inclusion in Ghana.

Judith Adumua-Bossman,

Vodafone Cash Mobile Financial Services Manager, spoke at the event about Vodafone Cash’s e orts to improve nancial inclusion in Ghana. “Mobile money has gone

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beyond cash in and cash out, and we are looking for ways to develop innovative products for our customers,” said Judith. As an example, she highlighted Vodafone Cash’s overdraft service, which allows customers to borrow to complete transactions, o ering them

more convenience when purchasing a bundle, paying bills, and sending money across all networks.

As a business, Vodafone Cash has also made signicant contributions to the agribusiness sector in Ghana, according to Judith. She spoke about the company’s partnership with Farmerline and Aquafresh, which provides farmers with the technical support they need to practise better farming.

Judith also noted that Vodafone Ghana, with the sup-

port of the government, has extended its coverage through its roaming and rural telephony projects. “We believe that nancial inclusion is crucial to the development of the economy and the welfare of the people. It is not enough to have technology; we must evolve it,” said Judith.

Vodafone Cash has been focused on helping liberalise mobile money to embrace all and sundry since its inception. To achieve this goal, Vodafone Cash has taken the lead in introducing new and pioneering initiatives and campaigns to promote nancial services. “We are passionate about developing nancial products and partnering with technology rms to improve nancial inclusion in Ghana and improve the lives of individuals,” concluded Judith. The Mobile Technology for Development Conference provides a platform for industry players to discuss the latest developments in the mobile technology space and their potential for driving nancial inclusion in Ghana. Vodafone Cash’s participation as a headline sponsor highlights its commitment to driving nancial inclusion in Ghana through innovative nancial products and services.

FBNBank celebrates women and rolls out special product for them

by customers, management and sta of the bank and the media was organised by the FBNBank Women Network, an internal ladies’ group which promotes the advancement and equal opportunities for women in FBNBank.

The activities during the event included a panel discussion themed on the celebration’s hashtag, “EmbraceEquity” which encourages women to venture into the technology in order to bene t from the many opportunities it o ers. All the panelists emphasized the need for women in technology to work hard and trumpet their achievements in order to create visibility.

FBNBank Ghana.

Delivering the welcome address, Grace Isaac-Aryee, Treasurer of FBNBank Ghana and Chairperson of FBNBank Women’s Network said, “the celebration of International Women’s Day is an opportunity to celebrate ourselves and appreciate each other for our tireless work and dedication to making meaningful contributions to the World. It is also an opportunity to celebrate the unique role we play in shaping the society through our personal and professional achievements for which, I believe, our men can stand up and celebrate us.”

FBNBank Ghana has rea rmed its commitment to championing gender equality and to empower women as part of the celebration of International Women’s Day which it marked with a unique event that highlighted the theme for the year,

“DigiTall: Innovation and Technology for Gender Equality” and climaxed with the roll-out of a special women’s account, FirstGem.

The event which was attended

The panelists for the discussion included Farida Bedwie, a Software Engineer, Audrey Mnisi Mireku, Chief Information Security & Risk O cer at the Ghana Association of Banks (GAB) and Mr. Henry Obike, Head of E-Business,

As part of the evening’s activities and as part of this year’s International Women’s Day celebrations, the Bank launched the FirstGem

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Account. This banking product is aimed at empowering women professionally and nancially and comes with bene ts which include a higher interest rate return reward on deposits and an interest rate much lower than the commercial lending rate.

Commenting on the FirstGem account, the Head of Retail Banking, Allen Quaye said, “the introduction of FirstGem is aimed at o ering women an opportunity for empowerment nancially and also in the business arena.

It is structured to help close

the gender gap in line with what the Bank practices. FirstGem Account comes in three variants; the FirstGem Current Account for individuals, the FirstGem Savings Account also for individuals and the FirstGem Finance for registered women-owned businesses. Additionally, FirstGem o ers women capacity-building through thought-leadership workshops, business advisory services, and business skills. It will also provide wealth management and investment opportunities and convenience to all holders of the account.”

Speaking at the event, the

Managing Director of FBNBank, Victor Yaw Asante, who is also the patron of the FBNBank Women’s Network said, “at FBNBank, we put women at the core of our work and operations, so as we mark this year’s International Women’s Day, FBNBank dedicates the entire month of March to celebrate women (who are female colleagues, customers or relatives) as a recognition of their impact in bringing positive balance to our lives and as a mark of appreciation for them.”

FBNBank has in its 26 years of operating in Ghana remained focused on putting its custom-

ers and communities rst. This, it has sought to do through the rich value and excellence of what the Bank contributes to the relationship with its stakeholders as a whole, particularly the customers. FBNBank Ghana is a subsidiary of First Bank of Nigeria Limited, which is renowned for its great customer service and general stakeholder engagement garnered over its 129 years of operation. FBNBank Ghana has 23 branches and 3 agencies across the country with over 500 sta . FBNBank o ers universal banking services to individuals and businesses in Ghana.

Mobilemoney, Vodafone Cash partner to enable merchant interoperability

Commenting on this development, Shaibu Haruna, the Acting Chief Executive O cer of MML indicated that “this important rst step is in line with the MTN Group Ambition of developing the largest nancial services platform in Africa. We are deeply committed to building an all-inclusive payment ecosystem that provides a platform for all players to ourish. We look forward to partnering with other players in the market to leverage o our distribution network to o er their services to customers”.

Vodafone Cash’s Acting Mobile Financial Services Manager, Judith Adumua-Bossman, stated that “At Vodafone Cash, we believe that partnerships are key to expanding access to nancial services for everyone. We are dedicated to creating innovative solutions that will help our customers better manage their nancial goals. This is a truly historic moment for us, and this new feature underscores our commitment towards growing accessibility, convenience and value for our customers.

Vodafone Ghana Mobile Financial Services Limited (Vodafone Cash) and MobileMoney Limited (MML) have enabled interoperability services that allow Vodafone Cash and MTN Mobile Money customers pay at each other’s merchant point of sale.

This is a major milestone in creating an enabling environment in furtherance of the nancial inclusion agenda of

both entities and the Government of Ghana.

The service went live on March 1, 2023, and is available to all Vodafone Cash and MTN Mobile Money customers.

Customers of both networks can now make direct payments for goods and services at any MTN Mobile Money or Vodafone Cash enabled merchant point across the country.

Ghana should consider the export of plastic waste- KNUST students propose

who are also known as ECO BUDDIES, embarked on an environmental sustainability project at the Teshie Southern Cluster of Schools dubbed the Sankofa Project which seeks to educate, engage & empower students in the cause of ghting plastic waste. In three thematic areas the SANKOFA PROJECT was rolled out. Education, training, eco-buddies club formation.

The students were taken through practical sessions on how to properly dispose of their waste as well as waste segregation. They were also enlightened on the 4 “Rs” of plastic waste management which are – REFUSE, REDUCE, REUSE AND RECYCLE.

own bowls and plates to buy food as it was done some years back to reduce plastic waste.

Ghana, like many other developing countries, is facing a major challenge with the management of plastic waste.

According to the World Bank, Ghana generates over 1.7 million tons of plastic waste each year, with only 2% of it being. The lack of proper waste management infrastructure has resulted in the accumulation of plastic waste on the streets, in gutters, and in landlls. This has led to environmental degradation, health hazards, and a loss of revenue due to the cost of waste management.

However, according to the MSc. Development Management Students of KNUST, there may be a solution to Ghana's plastic waste problem. The country should consider plastic waste exportation as a means of generating revenue and

reducing the burden of waste management. Plastic waste exportation involves exporting plastic waste to other countries that have the infrastructure and capacity to manage it properly.

One of the primary bene ts of plastic waste exportation is that it can generate signi cant revenue for the country. Many developed countries are willing to pay for plastic waste from developing countries as they require a steady supply of raw materials for their recycling industries. By exporting plastic waste, Ghana can tap into this demand and generate a new stream of revenue. This revenue can be used to develop better waste management infrastructure in the country, create new jobs, and support other development projects.

The team of KNUST students

The students were then taken through the process of turning waste materials into valuable and useful thing such as portable lotion holders, stationary holders, ower pots, and beautiful picture arts all using plastic waste. Waste Bins for the collection and segregation of plastic waste were also donated to the school.

Sankofa, a Twi word from the Akan Tribe of Ghana loosely translates to, “go back and get it.” Its literal translation comes from the Akan proverb, "Se wo were na wosan kofa a yenkyiri," meaning, "It is not taboo to go back for what you forgot (or left behind)." Sankofa is a phrase that encourages learning from the past to inform the future, reaching back to move forward, and lifting as we climb. With this the students were taught to use baskets for shopping and also use their

The District Education Director, Mrs. Theresa Tetteh commended the ECOBUDDIES Team for an impactful and innovative project geared towards environmental sustainability. Mrs. Tetteh said she was looking forward to the Post project engagement sessions of the Sankofa project, especially because she believed that sustainable development was to ensure that present generations are able to meet their needs without compromising on the ability of future generations to meet their own needs. Mr. Taylor an International Development Student from Trent University, Canada also joined the Team to facilitate the “trash to treasure” training session. The Sankofa Project was supported by Mackintosh Africa, City Spy Technologies and Talent Micronance services. The ECO BUDDIES TEAM comprised of Ms. BAABA BANNERMAN, Ms. HANNAH SAFOA LARTEY, Ms. ESTHER AGYAPONG and led by Mr. PETER ADETOR. The team is looking froward to partner other international Organizations such as SIDASwedish International Development Cooperation Agency who are keen to support recycling, biodegradable options to plastics as well as export of plastic waste initiatives.

Huawei’s FinTech 2.0 to support Ghana’s mobile money,

Huawei on Thursday, March 16, 2023 delivered its position on the Ghana Chamber of Telecommunications’ 2023 Mobile Technology for Development (MT4D) Conference dubbed,

“Driving Digital Inclusion In The Real Economy” with its FinTech 2.0 Solution.

At the event, held at the Kempinski Hotel in Accra, Mr. Lee Maina, Head of FinTech,

Huawei Southern Africa Region indicated that, Huawei as a Global Leader in FinTech Solutions with insight on current trends in Ghana, Kenya and other Sub-Saharan countries where inclusion has heavily

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being ubiquitous to a tool used in deepening nancial inclusion to help drive value for the real economy.”According to Mr. Lee Maina, Mobile FinTech space is entering a new phase where customer data is becoming more critical in the endeavor to authenticate, o er the most suitable services and in carrying out more precise credit assessments. “This is no longer those “nice to have” approaches but a vital cog in retaining and gaining market share in an ever-crowding industry where even new entrants are challenging established incumbents.”

In the race for ownership of the customers’ mind share, we believe the winners will be the ones that will have the most valuable, relevant, holistic and authenticated body of data that enables them to o er the most suitable services to customers, at the most suitable time and at a user speci c pricing.

For us to generate this rich data that’s scattered across di erent sectors, platforms and players, there is the need for concerted e orts from all stakeholders not only in bringing everyone online but also in collapsing our

approach to technology from Silo based to layer based where information is easily shared. Huawei’s FinTech 2.0 seeks to bridge this gap created by fragmentation by bringing this layered approach not just to FinTech Technology but also in the upselling of ideal services where the personalized proposition for each user deepens based on our understanding of each customers habits and needs.

As a world-leading ICT enterprise, Our Vision and Mission is to bring digital to every person, home and organization for a fully connected and intelligent world. With Fintech 2.0, we continue to invest heavily in FinTech research and innovation, supporting players in the FinTech space to create end to end solutions that will bring the value chains online, basically seeking to solve some of the persistent problems they may be having beyond payments.

That way, we remove any lethargies to adoption extending their resilience, ultimately generating the required data to extend services & drive localized innovation and ensuring e cient deployment of capital and resources.

For the Ghanaian market, Huawei has deployed its Finance and payments cloud as part of its FINTECH 2.0 strategy which boasts micro loan, buy now pay later, shoppers’ loan, overdraft, savings, Super apps with mini apps etc. allowing FinTechs in Ghana to enjoy them on SAAS (Software As A Service) mode with minimal investment whiles o ering them the exibility to localize the solutions and utilize the local developer ecosystem for scale & support via a low code/no code developer platform.

Its estimated that Ghana has over 20K developers and the local universities add approximately 1K new developers into the job market annually. It’s

not viable to absorb all these talents in the current job environment nor will all the surplus have an equal stab at entrepreneurship, it is therefore prudent to devise a sustainable way to accommodate them into our FinTech strategy and ecosystem and they will play a vital role not only in scaling our services to the longtail customer segments but also in driving local innovations. Huawei Low code/no code developer solution empowers FinTechs to achieve this vision.

“We have deployed our FinTech in more than 40 sites globally which is currently serving more than 400M customers, so It’s not just Technology but our ability to package all this best practice learnings from other successful sites and bring that success DNA to your project to ensure faster time to revenue. Huawei seeks partnerships in Ghana with like-minded organizations to deepen nancial inclusion”, - Lee Maina – Huawei Head of FinTech, Southern Africa region.

About MT4D Conference

Mobile Technology for Development is an event that provides the platform for stakeholders within the nancial, technology and development sector to converge at a single location to share ideas, exhibit solutions and take stock of innovations in payments, deposit, credit, remittance and insurance, and build partnerships for enhanced e ort towards nancial inclusion in Ghana. Through the insights and perspectives shared policy ideas is formulated to in uence policies on nancial inclusion.

The event is the largest gathering of Fintech players, innovators, regulators, investors, big techs, developmental communities, and several other players in Africa and from across the globe.

Unexpected miracle: vodafone's ultrasound programme delivers more than expected

Her decision turned out to be well-timed.

“When I got to the health centre, I was registered and given a sheet and number,” Dora said. “The midwives gave education on the four-star diets. I was then ushered into the scan room where I had my scan done. I saw my baby, and the report was given to me. We were also given snacks.”

which aims to make the benets of digital society accessible to all. The provision of free ultrasounds is a step towards addressing the needs of pregnant, underserved women while harnessing the power of portable, life-saving technology.

In rural communities across Ghana, expectant mothers struggle to access a ordable and convenient prenatal care, increasing the risk of maternal and newborn deaths. Dora Manwuro, a 29-year-old mother of three, knows this all too well.

Living in Amanase, a remote village in the Ayensuano District of the Eastern Region, Dora had been paying GHC30 for every ultrasound scan during her pregnancy and had to travel to Suhum or Asuboi for the service. Many expectant mothers across Ghana face similar healthcare challenges.

However, an initiative by the Vodafone Ghana Foundation has been changing the game since 2015. Through the Rural Ultrasound Scan Programme, pregnant women in remote villages across the country can access free mobile ultrasound services. To date, the programme has helped provide free ultrasound scans to over 20,000 pregnant women.

Dora became intrigued when she heard through her community’s information centre that the programme would provide free ultrasound scan services for pregnant women in her community, and she decided to take part.

However, just minutes after receiving her scan, Dora began experiencing cramps in her abdomen. The midwives who were present quickly assessed her and said labour had started. They rushed her to the ward where, shortly after, she gave birth to a bouncing baby boy.

“It was like a miracle to me,” Dora says. “If not for the scan programme, I would have had to pay for transportation to the clinic, and I may have arrived late because my husband was not around.”

“They gave me all the necessary support during the programme, and I heard this was the rst time this has happened during a scan service by Vodafone,” she said happily.

This initiative is also in line with Vodafone Ghana’s “Inclusion for All” purpose pillar,

Patricia Obo-Nai, CEO of Vodafone Ghana, emphasised the importance of partnerships in accelerating access to digital healthcare in Ghana, saying, “We believe that no woman should die during childbirth, and we are committed to leveraging technology to reduce maternal and neonatal mortality rates in Ghana.”

For Dora, the Rural Ultrasound Scan programme has had a signi cant impact on her life, and she recommends it to all pregnant women. “The services are free, and the sta are friendly as well,” she said. “You get answers to all your questions and get snacks after the programme.”

With initiatives like the Rural Ultrasound Scan programme, Vodafone Ghana is taking important steps to address the healthcare challenges facing underserved communities in Ghana and ensure that no mother or child is left behind.

Appiatse Support Fund bags GH ¢62million as GOIL donates

Rev. Dr. Joyce Aryee, the Chairman of the Appiatse Support Fund, has disclosed that so far, the fund has received an amount of GH ¢62million as donations from various institutions, organisations and individuals all in support of the reconstruction and rehabilitation of the Appiatse township which was razed by re explosion early last year.

The Chairman revealed this when she received a GH ¢200,000 cheque donation from Goil on Monday, 20th March, 2023, as their contribution towards the reconstruction of Appiatse.

Madam Joyce Aryee explained that aside contributions received from various organisations, Maxam Company, the

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mining rm implicated in the accident, has also been consistent in paying their ne and that she noted has contributed to the GH ¢62million amount raised.

On behalf of her team and the people of Appiatse, she expressed their profound gratitude to Goil for such a generous donation saying that this will go a long way to help them do timely payments to contractors and hoped that their gesture of love will be the launch of a second wave of

donations from institutions that are yet to donate to the fund, as she opined that more money is needed to complete the entire project.

Rev. Joyce Aryee outlined a number of challenges contractors face at the site, particular among them she mentioned to be the consistent rainfall in the area, which slows down progress but Madam Joyce was hopeful that by September, most of the buildings would have been fully completed for the residents to

move in.

The Managing Director of Goil, Mr. Kwame Osei-Prempeh in his remarks said having heard of the unfortunate incident that happened in Appiatse, Goil as a socially responsible corporate entity, decided to also join the frail and contribute towards the reconstruction of the model green community.

He however explained why their donation to the Fund seems to have delayed, saying

that the institution issued a cheque when the incident occurred last year but was not able to deliver it on time but "better late than never," he added.

The MD also mentioned that Goil at the initial stages of the incident made some donations to Appiatse directly even before the fund was instituted while he applauded the e orts of Rev. Dr. Joyce Aryee and her team for the good work being done for the people of Appiatse and humanity.

Registrar of Companies, GARIA inducts 166 new members as licensed

judiciary to promote e ciency in the application of the Corporate Insolvency and Restructuring Act (CIRA).

The O ce of the Registrar of Companies (ORC) and the Ghana Association of Restructuring and Insolvency Advisors (GARIA) have inducted over 160 members as newly licensed Insolvency Practitioners (IPs) at its second cohort Induction Ceremony in Accra.

The Induction Ceremony, which was also in partnership with other stakeholders including the Bank of Ghana and the Attorney General’s Department, forms part of ORC and GARIA’s key objectives to provide a forum for practitioners engaged in business recovery and insolvency practice. The new cohort brings to a total of over 270 IPs.

Former Chief Justice, Sophia Aku o, who chaired the induction ceremony, commended the inductees for their perseverance and diligence in reaching this milestone.

She also advised practitioners to maintain strong morals and values as these are the pillars of success in their respective elds. She emphasized that the

character of an insolvency practitioner matters to the stakeholders they represent, as e ective institutions are built on well-rooted value systems.

"Your profession is placed in the engine room of our economy, you must raise yourself and be heard on issues concerning the economy, company rescue, and the e ciency of insolvency practice," she added.

The Minister for Justice and Attorney General, Hon. Godfred Yeboah Dame, in remarks made on his behalf by his deputy, Hon. Alfred Tuah-Yeboah, encouraged licensed Insolvency Practitioners (IPs) to prioritize saving distressed companies, emphasizing that the hasty winding down of rms that have the potential to be revived could harm the growth of the private sector.

He stated that the primary objective when dealing with struggling businesses should not be liquidation, but

instead, e orts should be made to rescue and preserve distressed viable companies whenever possible, considering the impact on employment and other factors.

“Where a business can be saved by restructuring, every e ort should be made by skilled professionals to save it by restructuring it, therefore there is now the need to encourage lawyers, accountants, and bankers to take an interest in the restructuring profession,” he said. Furthermore, he expressed his belief that the expertise of well-trained insolvency practitioners would be highly sought after, given the current global economic conditions and the growing complexity of the business environment.

Registrar of Companies, Jemima Oware, reiterated the need for inter-agency collaboration across the nancial spectrum – banking, accounting, taxation, insurance and securities – as well as with the

“It is going to o er greater ability to respond to the local needs of distressed companies, address crossover problems, and will clarify and improve the role de nition of each of these agencies, especially when creditors and other claimants initiate a charge against a distressed company,” she explained, whilst pledging her support for training and related activities. She stated that the review of the CIRA regulations is still ongoing, as the legal committee of the company of the registrar has requested additional work from the consultant. The aim is to ensure that key stakeholders review and approve the regulation before it is passed by parliament to improve the work of insolvency practitioners. As for the operationalisation of the ORC, she con rmed that they are close to nalizing and approving the strategy document. Once accepted, the plan is to make the ORC self- nancing to carry out its mandate, which includes the establishment of an Insolvency Service Division. This division will regulate insolvency practitioners for the rst time.

In her own words, "After these documents have been accepted, we will move to ensure that the ORC is self- nancing to carry out its mandate which includes the establishment for

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the rst time, an Insolvency Service Division to properly regulate insolvency practitioners."

In a speech delivered by the Bank of Ghana's Head of Resolution O ce, Elliot Amoako, on behalf of the Govenor, Mr. Amoako, said that though it operates in a specialised segment, the Bank would not hesitate to seek the assistance of licensed insolvency practitioners if the need arises.

“I want to stress that the resolution of banks and SDIs is subject to the Special Resolution Regime established by Banks and SDIs Act 930. The Bank of Ghana, however, will not hesitate to rely on licensed professionals under the Ghana Association of Restructuring and

Insolvency Advisors (GARIA) in the event of any future occurrences."

In addition, he encouraged licensed insolvency practitioners to stay informed about global developments, as increasing levels of globalization meant that events occurring in other parts of the world could have local consequences.

CEO of GARIA, George Fosu, explained that the induction ceremony is part of the association's broader objective to equip IPs with the essential core competencies required to assist businesses and organizations. He emphasised that current training and education of insolvency practitioners needs improvement, particularly in

terms of business modelling, strategy, and corporate balance sheet restructuring. “This ceremony is essential in laying a solid foundation for the inductees to develop the skills and knowledge necessary to assist distressed organizations in managing their businesses, properties, and a airs,” he said.

Additionally, Mr. Fosu noted that the ceremony aims to raise awareness among businesses across the country about the availability of specialised professionals who can provide assistance, particularly in the current challenging economic climate.

"Another important reason for this ceremony is to raise aware-

Ghanaian musician, Lamisi, honoured in the Netherlands

sionals in the diaspora awarded for ying high the ag of Ghana and contributing their quota to the country's development in various ways.

The recognition of the musician by the Representative Council of Ghanaian Organisations in the Netherlands (RECOGIN) and the Embassy of Ghana in the Kingdom of the Netherlands happened on Saturday 11th March 2023 at Schepenbergweg in Amsterdam.

ness among businesses across the country that there are specialized professionals who can help and assist them, particularly around this time, and it is absolutely critical that entrepreneurs know that they are not alone, which is why we are here," he explained.

Last year, during its rst induction event, GARIA admitted 108 licensed insolvency practitioners into the profession of insolvency in Ghana. Working in partnership with the Registrar of Companies and the Attorney General's Department, the Association has inducted a total of over 270 IPs into the profession.

By Harriet Ama Bampoe

“It is important we are doing this today as it shows great respect for you, the others, and the rules you have decided to live by. Honour helps us act in a way that lives up to high ideals, looks out for vulnerable people, and makes a way forward that is better than what has come before; better for everyone. We are convinced this is going to urge you to do more and we also believe that greater things are yet to come for you”, he added.

Sensational Ghanaian singer, songwriter, and performer,  Regina Lamisi Awiniman Anabilla Akuka, known by the stage name, Lamisi, has been awarded in the Kingdom of the Netherlands for her exploits in alternative music and for pro-

moting the rich Ghanaian culture to her global audience.

The musician was part of several distinguished individuals and other profes-

Presenting a plaque to the musician, His Excellency Francis Danti Kotia, Ghana's Ambassador to the Kingdom of the Netherlands commended Lamisi for her great success over the years in representing her people and staying true to her culture, which is evident in her music, costuming, and performances.

The ceremony was part of activities to mark the celebration of Ghana’s independence anniversary dubbed “Ghana @ 66 Celebration”, organised by RECOGIN and supported by the Embassy of Ghana in the Kingdom of the Netherlands,  and Akwaaba Holland. Lamisi gave an outstanding performance to crown the ceremony.

A revolution is underway in Ghana’s Fintech/Agritech sector

ogy startups, MSMEs, others –to drive sustainable economic growth. We consider it an important social obligation to support and provide the type of capital appropriate for these businesses and we are excited to have a willing partner in Mastercard Foundation," said Audrey Abakah, Head of SME Banking at Absa.

powerful tool for transformation and should be harnessed to drive sustainable economic growth and empower the youth. The future of Ghana's economy is in the hands of these young entrepreneurs, and they must be supported and encouraged to reach new heights.

ONE BY ONE, the young entrepreneurs walked in, eager to make an impression in front of the panel put together by Absa and Mastercard Foundation. These entrepreneurs, mostly from the Fintech and Agritech sectors in Ghana, had been allocated presentation slots of 15 minutes each to make the pitch of their lives.

The digital screen for the presentation loomed large in the meeting room on the third oor of the Absa Mastercard Foundation o ces at Ridge in Accra. The projector rays blinked, and the PowerPoint slides were cued and ready to roll. This was the scene of the Absa-Mastercard Foundation Fintech-Agritech Support Programme pitch some weeks ago.

For the past three years, Absa Bank and the Mastercard Foundation have continued a formidable partnership, to create impact in key sectors of Ghana’s economy, including SMES, Fintechs, Agritechs and other complementary sectors. The initiative is under the sponsorship of the Absa Mastercard Foundation partnership, designed to support young startups that are innovating and creating new things to enhance the growth of Ghana's economy.

The programme provides a unique opportunity for entrepreneurs, in search of nancing, to plead their cases before ve tough-talking business and corporate executives. The programme has a GH¢2.5million support available to businesses in the Fintech and Agritech industry to build their capacity and make them viable in the medium to long term.

The GH¢2.5million support also targets businesses that are either at their ideation or up-scaling stage, including businesses using technology to improve nancial services like lending, payments, insurance, investments, and education ( nancial literacy). To qualify, businesses must be more than three years-old, tech-savvy and with owners who are between 24 – 40 years.

The pitch session was an interesting spectacle. It re ected an overall sense of excitement and eye-opening developments happening in Ghana’s dynamic startup space. The presenters were grilled and had to thoroughly justify claims of e ciency, budget, end-to-end potency of their products and whether they had passed the Bank of Ghana regulatory sandbox test.

"We are a strong believer in the potential of young Ghanaian businesses – including technol-

The potential of digital technology and innovation to transform lives and create an enabling environment are at the heart of this initiative. Innovative ideas sold during the pitching session, included digitalised farming, eliminating manual labour and using robotics to enhance productivity and multitasking. Others included precision agriculture, drone technology in agricultural spraying (organic fertilizer), and many more.

The Absa/Mastercard Fintech-Agritech programme is a game-changer in Ghana. It is proof that technology can be a

“We nd this relationship with Absa bank very rewarding and impactful. It aligns perfectly with our ethos as a foundation mandated to create change across sub-Saharan Africa,” said Rosy Fynn, Country Director of the Mastercard Foundation.

In a world where innovation and technology are driving growth and development, the Absa/Mastercard Foundation Fintech-Agritech Support programme is an industry leading initiative that is paving the way for young entrepreneurs to revolutionise the sector and transform the Ghanaian economy.

Ken Ofori Atta express appreciation

the rural areas.

“The new skills you are deploying in the communities you serve is helping make a lasting and transformational impact on thousands of people”.

He revealed the Government’s commitment to further improve relationship with Japan and accelerate Ghana’s drive for industrialization.

He nally called for the continuous support from “Ghana’s longtime friends” including Japan, as the country was going through some economic challenges as a result of the Russian-Ukraine war and the Covid-19 pandemic.

The Minister for Finance, Ken Ofori-Atta, has commended Japanese volunteers working in various parts of the country for their invaluable contribution to the country’s growth and development.

He made this known when he addressed the volunteers who are under the JICA’s Volunteer programme which is one of Japan’s Technical Cooperation schemes operated as part of its O cial Development Assistance (ODA).

The JICA Volunteer programme brings Japanese citizens to developing countries to assist their development e orts.

About thirty-three (33) volunteers are currently working in various elds including healthcare, education, ICT, creative arts, Community Development, and a host of technical vocations.

Citing some of the support the Government of Ghana had bene ted from Japan, the Minister mentioned the Noguchi Memorial Institute for Medical Research which was built by the Government of Japan and donated to Ghana in honour of the Japanese researcher, Hideyo Noguchi, who researched Yellow Fever in Ghana and died from the disease in the country in 1928. According to him, the role the Research Institute played during the Covid-19 pandemic was very commendable as the premiere biomedical research center in the country complemented Government’s e orts at reducing mortality during that time.

Ken Ofori-Atta also mentioned the ongoing Tema-Motorway Phase II Project and the Assin Fosu-Assin Praso Road Projects as some of the many nota-

ble ongoing projects funded by the Government of Japan across the length and breadth of Ghana. “It's amazing how small steps we take can result in good o ers for future generations", he stated.

Mr. Ofori-Atta disclosed that about 45 years ago, in 1977, the rst group of volunteers landed in the country with the sole desire to o er their talents, labour and know-how across the various sectors of the economy. This, he underscored had contributed signicantly to improvement in education and healthcare delivery in the country, especially,

Speaking on behalf of the Japanese Ambassador to Ghana, H. E Tsutomu Hiemeno, Mr. Nakowi Biteri, thanked the Government of Ghana for the hospitality and security provided for the volunteers. He said the volunteers were enthusiastic to work with the local communities as Japanese goodwill ambassadors.

He disclosed that, the volunteers were currently working in Greater Accra Region, Volta Region, Ashanti Region, Bono Region, Ahafo Region, Central and Western Regions of Ghana.

According to him, the programme had made adequate preparation to send other volunteers to other parts of the county but were awaiting the clearance from the security agencies to ensure the safety of their volunteers.

He was optimistic of the quick recovery of the Ghanaian economy.

The Chief Representative of JICA in Accra, Mr Yasumichi Araki also noted that the volunteers had become members of the local communities as they lived and shared valuables with them. After expressing his profound gratitude to the Minister for Finance for the support his o ce had provided them, he added that, their joy was the warmth and appreciation the local communities expressed towards them all the time. Present at the programme were O cials of JICA and the Ministry of Finance.

UPSA student, Michael Ackon wins

Michael Ackon, a student of the University of Professional Studies, Accra (UPSA), has emerged as the winner of the 2022 MTN Pulse Business Challenge.

Michael, a third-year Public Relations student won GHS 10,000 after a keenly contested competition.

The six nalists were tested on ‘Business Knowledge’ and lessons from the Business Challenge Boot Camp 2022. Michael

proved to be up to the task, impressing the judges with his innovative ideas and business acumen.

In the nal round of the competition, each contestant was given 60 seconds to pitch a business idea to the judges. Micheal delivered a brilliant pitch and was adjudged the winner.

During the three month period, Michael showed exemplary leadership, excellence commitment

and teamwork, which he attributes to the quality of education and training he has received from University of Professional Studies. He is currently the Organizer for the Communications Studies Students Association and Vice President for the UPSA Entrepreneurship Club.

In his acceptance speech, Michael thanked the judges, MTN Pulse, and his fellow contestants for the opportunity

to participate in the Business Challenge.

“Winning this challenge means a lot to me. It has given me the opportunity to showcase my potential. It is a validation of the hard work and e ort I have put into my studies and my passion for business.”

He also dedicated his victory to his mother, who he said has been very instrumental in his drive and

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passion. He added that he will invest the prize money into buying tools and resources to grow his business.  The Business Challenge is an annual competition, organized by HR Focus for tertiary students in Ghana to unearth and showcase their entrepreneurial and business skills. This year, the competition was headline sponsored by MTN Pulse.

By Willem H. Buiter

When a market liquidity and/or funding liquidity crisis occurs at a moment when in ation is above-target, tension between the objectives of central banks – price stability and nancial stability – is inevitable. In such cases, I believe that nancial stability must come rst, because it is a precondition for the e ective pursuit of price stability. But this does not mean that the central bank should cease or suspend its anti-in ationary policies when threatened with a banking crisis or similar systemic stability risk. The con ict between the objectives of price stability and nancial stability should be manageable by using the central bank’s policy rate to target in ation, and by using the size and composition of its balance sheet as a macroprudential policy tool to target nancial stability. Credible communication is essential to achieve both objectives.

Financial stability in a large advanced economy is not materially impacted by a 50-basis-point increase in the risk-free short nominal rate of

interest. It is impacted by the interrelated liquidity and credit risk premia and the vanishing would-be purchasers and lenders in illiquid nancial markets – when credit rationing rules the roost. The Bank of England got this right last year when, during a period of monetary-policy tightening brought on by then-Prime Minister Liz Truss’s incoherent policies, it engaged in temporary purchases of long-dated UK government bonds and postponed quantitative tightening through Asset Purchase Facility gilt sales.

The asset purchases, which lasted from September 28 until October 14, were needed to counter material dysfunctionality in the longer-dated gilt markets. At its rst Monetary Policy Committee meeting following the purchases, on November 3, the BOE signaled its continued commitment to the in ation target by raising the policy rate by 75 bps, from 2.25% to 3%. Two further 50 bps rate hikes followed on December 15 and February 2. The prudential

nature of its temporary asset purchases would have been even clearer if they had been sterilized.

The European Central Bank also got it right this month when it raised its policy rates by 50 bps, despite the nancial kerfu e that had blown over from the United States following the insolvency of Silicon Valley Bank (SVB).

Headline HICP (Harmonized Index of Consumer Prices) in ation in February was 8.5%, with the core HICP in ation rate (which strips out

volatile energy and food prices) at 5.6%. The ECB addressed the nancial-stability concerns by  stating that its “policy toolkit is fully equipped to provide liquidity support to the euro area nancial system if needed and to preserve the smooth transmission of monetary policy.” Moreover, “the Transmission Protection Instrument is available to counter unwarranted, disorderly market dynamics that pose a serious threat to the transmission of monetary policy across all euro area countries.”

What will the Federal Reserve do

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at its upcoming meeting? I believe that the nancial stability concerns following the demise of SVB and Signature Bank were addressed e ectively by ensuring that all deposits in these two badly managed institutions would be made whole. De facto, this means that all deposits in US banks are henceforth insured. This no doubt contributes to moral hazard, because incompetent or reckless bank management will not be punished through a loss of informed depositors. But it is the unavoidable price of ruling out the systemic threat posed by bank runs. Moral hazard was contained by letting the banks go bust and exposing the shareholders and unsecured creditors (and presumably even secured creditors if the losses are large enough) to whatever the banks’ mismanagement cost.

But this prudential response was not optimal, because the new Bank Term Funding Program created by the Fed, which o ers one-year loans to banks with the collateral valued at par, should have been made available only on penalty terms. With market value well below par for many eligible debt instruments, the lender of last resort has become the lender of rst resort – o ering materially subsidized loans. The same anomaly (valuing collateral at par) now applies to loans at the discount window.

At the end of 2022, US banks had about $620 billion of unrealized losses on securities they planned to hold to maturity. Raising the policy rate will most likely further depress the market value of long-duration securities. So be it. We don’t know how much of this duration risk was hedged by the banks (and who the counter-

parties to such hedging are). But we do know that bank losses (in orderly markets) due to mistaken investment decisions are part of the healthy Darwinian mechanism that sustains a market economy, as is the orderly resolution of bankrupt institutions. The central bank must be ready, as lender of last resort and market maker of last resort, to discharge its nancial-stability responsibilities should illiquidity, bank runs, or other market failures pose a systemic threat.

With core personal-consumption-expenditures in ation still at 4.7% in January, the Fed should raise its policy rate target zone by 50 bps at its upcoming meeting. But I fear it may stop at 25 bps, owing to an erroneous concern about the nancial stability implications of a larger rate hike. Financial stability in the US is best served in the short run by

the Fed standing ready to intervene as lender and market maker of last resort. In the medium and long run, the original Dodd-Frank regulations, repealed for small and medium-sized banks in 2018, should be reimposed, and perhaps limits on banks’ proprietary investment activities should be restored – or maybe fractional reserve banking should be abandoned altogether. More assertive and competent supervision wouldn’t hurt, either.

Take advantage of technology to grow your business

Head of Digital and Innovation

at Stanbic Bank Ghana, Estelle Asare, has advised young women to take advantage of technology to grow their businesses.

She said this at the Women in Business 2023 Roundtable event held at the SBIncubator, one of the bank’s 2023 IWD activities.

Speaking on the importance of digitization to business growth, Estelle Asare said, “As women, let’s look beyond the challenges our businesses may be going through and have a solution-mindset to enhance our digital competencies. We need to take advantage of the available technologies to grow our businesses. Customers want a

frictionless experience in accessing your service and you can leverage a world of untapped resources through digital. This will allow you to grow your business and give you a needed advantage in your industry.”

Mrs. Asare also shared that the event formed part of the bank’s commitment to fostering national growth through women empowerment. She mentioned, “At Stanbic Bank, we say Ghana is our home and we drive her growth. That growth is possible when we as women harness the power of digital.

That is why at Stanbic Bank we are constantly investing in projects that provide young girls and women across the

By Estelle Asare

tALL: Innovation and Technology for Gender Equality’. The panelists for the discussion were Renee Q. Boateng, Personal Branding Consultant, Amanda D. Akushie, Lead Consultant and Founder of Nilee Consult and Jemila Abdulai, Head, Digital and eCommerce, Stanbic Bank Ghana. They were joined by Odelia Ofori, CEO, SNB Group and Mabel Simpson, CEO mSimps. The session was held to equip young female entrepreneurs with the tools and skills they need to succeed in the world of business.

nation with access to the skills and training they need in the area of digitalization. There are a lot of women who are SME owners and we believe that if SMEs succeed, the economy succeeds, since they are the backbone of the economy. Therefore, in order to successfully drive national growth, we must invest in ensuring that there is equal access to innovation and technology across both genders.”

Held in partnership with Ashesi Entrepreneurship Center, the Women in Business Roundtable was under the theme ‘Digi-

Ben Mensah, Head, Consumer High Net Worth Stanbic Bank took the opportunity to congratulate the leaders and female sta of Stanbic Bank for their contribution to the growth of the bank.

He said, “Stanbic Bank is a bank that champions diversity in every area. We are proud to have strong women as leaders who work daily to ensure that our business goes on smoothly. At Stanbic we are committed to actually supporting women and not paying lip service rather we put in the actual work to empowering women to reach for their dreams.”

Stanbic Bank Ghana has partnered many academic institutions and FinTechs to deliver a number of STEM-related projects. Last year, the bank partnered with WiSTEM (Women in Science Technology Engineering and Mathematics) to organize a 5-day training camp for Story continues from page 15

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young girls from secondary schools across in STEM.

Stanbic Bank also partnered with Ghana Enterprises Agency (GEA) to launch the Women Entrepreneurship Workshop at the Stanbic Business Incubator in Accra. The two-day workshop was designed to provide female owners of Micro, Small and Medium Enterprises (MSMEs) with the necessary tools and knowledge to grow their businesses.

Forum on opportunities arising from Chinese-style modernization held in Nairobi

China Media Group (CMG) Africa on Friday held a forum entitled “Opportunities Arising from Chinese-style Modernization” in Nairobi, Kenya. The forum brought together African and Chinese scholars to share their insight on the development of China-Africa relations.

The guests interacted with students from the University of Nairobi on topics such as China’s unique path to modernization, its adherence to peaceful development, the promotion of multilateralism, and new opportunities for cooperation between Africa and China..

J anua r y 20,202 3 March 17, 2023

J anua r y 20,202 3 March 17, 2023

Tenancy & recovery of premises in Ghana; The Rent Act’s ejectment policy

Introduction

Renting a property in Ghana is a common practice for both locals and foreigners who seek temporary or long-term residence. Rent, a condition for tenancy, is paid to the landlord as a result of the landlord/tenant relationship. This is the case whether the lease is for a residential space in a city or a rural property. Understanding rent and tenancy laws in Ghana is essential for both landlords and tenants, as it helps minimizes, disputes and litigation in the courts.

In this article, the statutory and common law rules on the recovery of premises in Ghana is explored. The article will also explain how a landlord can recover possession of a rented property, in accordance with the legal/statutory requirements of the country. By the end of the article, readers will have a better understanding of their legal rights and obligations in the Ghanaian rental market.

What is a valid tenancy under Ghanaian Law?

Tenancy is a legal agreement between a landlord and a tenant where the landlord allows the tenant to occupy their property in exchange for rent. The principal rule is that for a lease or tenancy to be valid/enforceable, it must be in writing and signed by the landlord or by his agent.

There are, however, some exceptions to the above rule. These exceptions are Leases by operation of law; Leases by operation of the rules of equity; and Leases where the lessee is in possession for a term not exceeding three (3) years.[ Section 36 of the Land Act, 2020 (ACT 1036)]

Rights and Liabilities of Tenants and Landlords

Tenants in Ghana have several obligations and rights. The primary obligation of the tenant is to pay rent. Additionally, tenants are required to use a rented property for the purpose for which it was let and not to sublet same without the landlord's consent. The law also requires that a tenant gives a landlord reasonable access to the property for inspections and repairs. Failure to meet these obligations could result in eviction. In a well-drafted lease, there is always an express covenant requiring the tenant to pay rent. In Ghana, however, the majority of tenancy agreements are made verbally and informally, and they often just stipulate the rent and the method of payment. The obligation to pay rent is now implied in residential tenancies for valuable consideration[ Section 50 of the Land Act, 2020 (ACT 1036)].

Under the Rent Act, 1963 (Act 220), tenants have several rights, including the right to peaceful occupation of the premises, the right to adjustment of rent only in accordance

By: Prince Kojo Tabiri Esq

with the law, the right of notice any intended eviction or termination of tenancy, and the right to redress before a court of law.

For Landlords in Ghana, their rights and obligations include providing safe and habitable housing, maintaining the property in good condition, access to their property for maintenance or inspection, to evict tenants who violate the terms of their lease, and the right to terminate a lease at the end of its term.

Equally, landlords must respect the rights of tenants, including but not limited to the right to privacy and quiet enjoyment of the property. Both tenants and landlords should also adhere to the terms of the tenancy agreement, including the payment of rent, and should resolve any disputes through peaceful and legal means.

The Rent Act on the Recovery of Premises by a Landlord

The Rent Act 1963 (Act 220) (hereinafter referred to as “the Act”) provides the conditions under which a landlord may recover possession from a tenant or that may lead to the ejection of a tenant from the premises.

Premises is de ned by the Act under Section 36 . as any building, structure, stall or other erection or part thereof, moveable or otherwise, which is the subject of a separate letting, other than a dwelling house or part thereof bona- de let at a rent which includes a payment for board or attendance"

According to the law, no order against a tenant for the recovery of possession of the premises or ejectment shall be made by a competent court unless at least one of the conditions below is satis ed. These grounds include non-payment of rent, subletting without the landlord's consent, using the property for illegal or immoral purposes, causing damage to

the property among others. The Recovery of Possession of a Landlord’s property for personal use

A landlord may also apply for an order to recover possession of their property if they require the property for their own occupation or for the occupation of their spouse, children, or parents.[ Section 17(1)(g) of the Rent Act 1963 (Act 220)] The onus of proving that the premises is reasonably required for the personal occupation is on the Landlord. This law was upheld in Adu and Others v. Clegg [1981] GLR 173.

A landlord must further satisfy the following conditions outlined in the case of Boateng v. Dwinfuor [1979] GLR 360 for the recovery of premises for personal use:

1.The landlord must be able to demonstrate a bona de need for the property for their own occupation or that of their spouse, children, or parents.

2.The landlord must have served a notice to quit on the tenant in accordance with the provisions of the Rent Act.

3.The landlord must have given the tenant an opportunity to contest the claim for possession.

4.The tenant must have no valid defense to the claim for possession.

If these conditions are met, the court may grant the landlord an order to recover possession of the property. It is important to note that the Rent Act provides several protections for tenants, and the court will only grant such an order if the landlord can show that the conditions have been met and that the tenant has no valid defense to the claim for possession.

The court must be however be satis ed that, having

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regard to the circumstances, greater hardship would not be caused by granting the order. Therefore, in assessing the circumstances of greater hardship, the court shall consider the alternative accommodation available for the person whose occupation the premises are required or for the tenant Story continues on back page

(Apoloo CJ in Oman Ghana Trust Holdings Ltd v. Acquah  (1984-86) 1 GLR 198))

Who quali es as a family member per the Landlord’s recovery of premises for personal use?

NTHC WEEKLY MARKET SUMMARY

At the just ended Treasury Bill auc on, the Government accepted a total bid of GH¢3.32 billion across the 91, 182 and 364-day bills in the f ace of a total tender of bids, amoun ng to GH¢4.20 billion

The week-on-week yields witnessed an overall approximated drop of 4.16bps, 3.71bps and 0.72bps across the 91, 182 and 364-da y bills respec vely.

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The word “family” must not be understood here in the Ghanaian sense of extended relations. A “member of family” is de ned under Section 36 of the Act as meaning the father or mother, a wife, husband, child, brother or sister of the landlord. Other relations are however excluded.

In Nimako v. Archibold [1966]

GLR 612 it was emphatically stated that neither statutory law nor customary law places any limitation on the class or age of the landlord's family. Children who are of age or are married are still classi ed as children.

What is the Notice Period

Required for ejectment by the Landlord under Section 17?

It was held in Adu and Others v. Clergg (supra) that under section 17(1)(g), six months’ written notice was not required. However, where the lease agreement is terminable by notice, the notice to terminate must be in accordance with the provision of the lease.

Contrastingly, If the lease has expired and the landlord intends to use the premises for their own business purposes, and the premises were originally constructed to be used for such purposes, the landlord must give the tenant not less than six months' written notice of their intention to apply for an order for the recovery of possession or ejectment from the premises[ Section 17(1)(h) of ACT 220 ].

It is important to note that the landlord must have a genuine intention to use the premises for their own business purposes and must not use this as a ploy to evict the tenant. The court will take into consideration the circumstances of the case, including the nature of the landlord's business, the suitability of the premises for such business, and the reasonableness of the notice given to the tenant, when considering whether to grant an order for ejectment.

Other grounds for which the Court will grant an order of ejectment?

Where a landlord intends to pull down the premises and construct a new one, or to re-model the premises, an order of ejectment against a tenant may be granted by the court. That is, if the landlord intends to demolish or remodel the rental property, and such construction or remodeling cannot be carried out while the tenant is occupying the property, the court may grant an order for the ejectment of the tenant to enable the landlord to carry out the necessary works. This provision allows the landlord to recover possession of the property to carry out signi cant works, which cannot be done while the tenant is still in occupation.[ Section 17(1)(i) of Act 220]

Secondly, where the tenant was living in the rental property as part of their employment with the landlord, and their employment has now ceased, the court may grant an order for possession or ejectment at the instance of the landlord. This provision allows the landlord to recover possession of the rental property that was provided as part of the tenant's employment package, now that their employment has ended[ Section 17(1)(j) of ACT 220].

Lastly, if the landlord was previously living in the property themselves, but let the property while they were away from Ghana or the local area, and now wishes to re-occupy the property, they must have let the property furnished during their absence. If these conditions are met, the court may grant an order for the ejectment of the tenant to enable the landlord to re-occupy the property if the property was let substantially furnished[ Section 17(1)(k) of ACT 220].

The law, it must be stated,

abrogates the tenant's obligation to pay rent in cases where the landlord breaches his fundamental duty to ensure his tenant's quiet enjoyment by entering the property and evicting the tenant before the tenancy expires.

A landlord must satisfy one of the conditions speci ed in section 17(1) of the Rent Act, 1963. Tenants whose tenancy have determined, but who cannot be ejected because the landlord has not satis ed section 17(1) may continue in possession as statutory tenants. The tenant may, of course, decide to quit on the determination of his tenancy; but if he decides not to, he cannot be lawfully evicted unless the landlord satis es section 17(1).

Procedure for Recovery of Premises

The general overview of the procedure for the recovery of premises in Ghana (after any of the provisions under Section 17(1) has been triggered) is espoused as follows:

1.The landlord must rst give the tenant a notice of intention to recover possession of the premises. The notice must be in writing and must state the grounds for the recovery of possession.

2.If the tenant does not comply with the notice of intention, the landlord may then apply to the Rent Control Court or the High Court (depending on the jurisdiction) for an order for the recovery of possession. The application must be made on a prescribed Form, supported by an a davit.

3.The tenant must be served with a copy of the application and the supporting a davit, along with a notice of the date and time of the hearing.

4.The court will then hear both the landlord and the tenant and any witnesses they may call. The court may also

order a visit to the premises to assess the condition.

5.If the court is satis ed that the grounds for the recovery of possession have been met, it may make an order for the recovery of possession of the premises. The order must be served on the tenant, and the landlord may then take possession of the premises.

It is important to note that the procedure for the recovery of premises may vary depending on the speci c circumstances of the case. It is therefore advisable to seek legal advice before taking any action to recover possession of premises.

Conclusion

The purpose of the Act's statutory provisions is to provide a framework for resolving disputes between landlords and tenants in a fair and just manner. It ensures that both landlords and tenants are aware of their respective rights and responsibilities and that they follow the proper legal procedures in any dispute resolution process. The provisions of the Rent Act provide a clear and objective basis for resolving disputes between landlords and tenants, which helps to prevent arbitrary evictions and protect tenants from abuse by unscrupulous landlords. By setting out these grounds for recovery of premises and the legal procedures for eviction, the law helps to promote fairness, stability, and security in the rental market in Ghana.

THE WRITER IS A BARRISTER AND SOLICITOR OF THE SUPREME COURT OF GHANA AND A MEMBER OF ZOE, AKYEA & CO LAW FIRM.

HIS LEGAL INTERESTS INCLUDE BUT ARE NOT LIMITED TO REAL/PROPERTY LAW, COMPANY AND COMMERCIAL PRACTICE, CONSTRUCTION LAW, INTERNATIONAL TRADE & INVESTMENT LAW, AND DISPUTE RESOLUTION