Business24 Newspaper 27 March 23

More Thai companies come on board for rice project

By Eugene Davis

More Thai companies come on board for rice project

Thailand has signed a Memo randum of Understanding (MoU) with the Jospong Group of Companies (JGC), as these companies numbering about ten are in the Thailand rice value chain, and it is in relation with the Ghana-Thailand Rice Project.

The companies, which cut across the rice value chain, include fertilizer producers, dealers of rice milling equipment, seedling research centres, among others, are Smart Engineering Consultants Company, FairAgora Asia Ltd., New Kaset Thai Company Ltd., TAMCO Trading International Co. Ltd., Glofert Growing Growth, and Hypro Foods World Co Ltd.

The rest are Aneksin Motor Partnership Limited, TNP Billionair Group, SQI Group Company Limited Biomatlink Company Limited and Deler International Rice Machinery Co.

The MoUs were signed with the companies on the sidelines of a Thailand-Ghana Business Conference at Grand Fortune, Bangkok in Thailand on Sunday, March 19, 2023.

The Chief Executive O cer (CEO) of the Asian African Consortium (AAC) Mrs Adelaide Araba Siaw Agyepong, initialed for the JGC while the various Chief Executives O cers (CEOs) signed for their companies.

for Food and Agriculture in charge of Crops, Yaw Addo Frimpong, Ghana’s High Commissioner to Malaysia, Mrs Florence B. Akonor, Honorary Consul of Ghana in Thailand, Dr Sicha Singsomboon, and the Founder and Executive Chairman of the JGC, Dr Joseph Siaw Agyepong.

The business conference, which brought together captains of Thailand rice industry and several companies and a Ghanaian delegation, led by the Executive Chairman of the Jospong Group of Companies (JGC), was on the theme: “Ghana-Thailand Business Forum; Partnership for Sustainable Rice Production in Ghana.”

Members of the Ghana delegation included experts and researchers in various elds drawn from the University of Ghana, Legon, University of Cape Coast (UCC), Kwame Nkrumah University of Science and Technology (KNUST), Centre for Scienti c and Industrial Research-Crop Research Institute (CSIR-CRI), the Ghana Rice Farmers Association, the Competitive African Rice Platform, traditional rulers, metropolitan, municipal and district chief executives (MMDCEs) and private entrepreneurs with the focus on rice, fertilizer, maize, cassava and poultry as well as executives of the JGC.

Speaking to journalists shortly

Araba Siaw Agyepong, commended the Thai companies for their interest to work with the group for the success of the Ghana integrated rice project.

“Once we have signed MoUs with you (referring to the Thailand rice companies), it means that we have reposed trust and con dence in your companies, so we will need your full support," she urged.

According to her, the partnership forged with them will mutually bene t both parties, and added that “we work with speed and will be doing same with your companies.”

In this regard, she asked the Thai companies to travel to Ghana and study the country.

“A team will be working with you (the Thai rice companies) to ensure that we begin the implementation of the rice project in Ghana immediately,” she said.

Ghana’s High Commissioner to Malaysia, Mrs Florence B. Akonor, allayed the fears of the Thai people that the partnership will see them at the losing end.

“The partnership we are forging with your companies is a win-win situation for Ghana and Thailand,” she said.

“Ghana is a safe place to invest, and that your investments will be protected,” she asserted.

AfDB Executive Director visits Ghana to discuss economic recovery and growth

March 5th to March 9th, 2023, Mr. Darkortey and his team met with a range of o cials, including Vice President Dr. Mahamoudu Bawumia, Finance Minister Ken Ofori-Atta, and Central Bank Governor Dr. Ernest Addison. They also met with the Commissioner-General of the Ghana Revenue Authority and the management of Development Bank Ghana.

tion has been completed and the project was within the liability period. They also visited the Wastewater Treatment Plant at Legon, which has been completed and handed over to the Sewerage Department. The treated wastewater is being used for sh and vegetable farming as part of a sustainability plan.

An Executive Director of the African Development Bank (AfDB), Mr. Rufus Darkortey recently visited Ghana to engage with stakeholders

and explore opportunities for promoting the country's economic recovery and inclusive growth agenda.

During the ve-day visit from

One of the main objectives of the mission was to better understand Ghana's Domestic Revenue Mobilisation programme and identify gaps where the AfDB could provide support. The team also sought to familiarize themselves with some of the Bank's ongoing projects in Ghana.

As part of the visit, the team toured the Pokuase interchange, where major construc-

The visit was seen as a positive step in strengthening the relationship between Ghana and the AfDB and identifying ways to support the country's economic development.

Mr. Darkortey said as part of his nal remarks that “the AfDB is committed to working with Ghana to support its recovery and growth e orts. We see a lot of potential for collaboration and look forward to further discussions with our Ghanaian partners."

Garden City Mall to be opened for business this year

The nearly completed Garden City Mall located at Tafo Pankrono, near the Suame roundabout in Kumasi is expected to be ready for business this year, the CEO of Retail and Reality, Alex Kwasi Bruks has announced.

By Eugene Davis

Ghana Commercial Bank (GCB).

Mr. Bruks in an exclusive interview with Business24/Investment Times said “Garden City Mall we started construction in 2015 and we had delays but it is 85percent complete, it is a huge mall, it was valued two months ago at US$93m. It is two storey , far bigger and when it is o cially opened it will be the most beautiful shopping mall in West Africa. We will open this year.

All shops within the estimated $93m mall, had been leased to prospective business owners who were ready to operate once it was opened.

According to Mr Bruks, the edi ce, which was being constructed by Consar Construction Limited, was being implemented in two phases.

He explained that the rst phase of the project comprised the mall, with its adjoining cinema and a water park and the VVIP area adding that commercial bus operators had been alloted space to operate from the mall freely.

The mall is being developed by Retail and Reality, the managers of Accra Mall and co-partnered by the Methodist Church of Ghana and the Asanteman Council with funding from the ECOWAS Bank for Investment and Development through the

International brands such as Shoprite, Game, KFC, Vlisco , and local giants like Nallem and Kiki clothing have all secured a shopping space at the mall.

He said when completed, the Garden City Mall would be the second mall in Kumasi apart from the Kumasi City Mall.

Further he indicated that in making the enclave more accessible to people, it had constructed a steel footbridge estimated at $200,000 to allow people enter the mall from Ashtown without necessarily using the entrance to the mall.

He said the second phase would include the construction of a nine-storey 141 bed capacity hotel, which would come along with a 1,200 capacity conference room to be used for all corporate and social events.

Businesses in South Africa and development institutions are in talks with the o ce of the High Commission about the possibility of entering the Ghanaian market aimed at increasing trade between the two countries, Grace Jeanet Mason, the High Commissioner to Ghana has said.

According to H.E. Jeanet Mason, she is aware of opportunities and investments that is coming from famous brands that will soon be entering the market as well.

Speaking at a Business

Roundtable and Dialogue Session in Accra last Thursday on ‘Overcoming Market Entry and Legislative Challenges in the Wake of the Implementation of the AfCFTA, she said “ We are humbled by the enthusiasm and interest of the private businesses and multilaterals, institutions including our development institutions that are ready to come to the market and they already have been meeting us at the High commission that we want to now begin to look, get projects and we look at projects for the coming quarter to prepare our budgeting and we look to include in our performance measures, that we then also look at all the investment opportunities

that we will then also conclude the opportunities for Ghana and South Africa.”

She disclosed that currently in terms of trade and growth trajectory, her country has in excess of 8bn Rands with Ghana, which has been dominated by agricultural produce, packaging materials, primary goods, products such as vehicles, machinery, chemical appliances.

South Africa is now the second largest trading partner with Ghana after Nigeria. There are over 510 South Africa experts currently living in Ghana from Accra to Tarkwa in the western region.

South African companies are well positioned to grow in Ghana and with Ghana, together we shall move forward to recover the recent pandemic and global conditions in our respective economies.

Dr. Humphrey Ayim-Darke, the president of the Association of Ghana Industries (AGI) lauded the e orts and urged the two countries to strengthen their trade relations.

“It is never too much having an iron sharpen an iron, it just deepens the trade relationship,

By Eugene Davis

SA businesses exploring trade prospects in Ghana, says High Commissioner

the facilitation, the essence of the branding and t South Africa Chamber engaging their Ghanaian counterpart is to deepen relationship, knowledge on the both ends of South Africa and Ghanaian markets, it is excellent to network and pick new ideas and in the turbulence that we nd ourselves in the world order, the best way to go around is experiential knowledge.

We should keep engaging in all the services and sectors, exchanging notes, networking and it gets better upon every other meeting.”

The General Manager, Communication of Brand South Africa, Thoko Modise underscored the need for strengthening ties and exploring partnerships.

“It is for us to forge ways to connect with the Ghanaian business community, we have over 200 South African companies investing here, it is always wise as you continue the journey of establishing businesses, identifying opportunities to connect with the people on the ground, it is one thing sitting out there, you don’t know the challenges that people go through, it is best to do face to face interaction.”she said.

Côte d'Ivoire abandons Import Substitution Policy, goes for Russian fish and ice-cream

By Kestér Kenn Klomegâh

The Republic of Côte d'Ivoire has abandoned its import substitution policy and other economic measures, including the budgetary allocation for modernizing local agriculture and support for boosting domestic agricultural production.

It, however, boasts around 64.8 per cent of arable and agricultural land, which largely remains uncultivated.

Arguably, Côte d'Ivoire, located on the Gulf of Guinea (Atlantic Ocean), could support its shing industry by spending adequate funds on acquiring simple shing equipment for local people and even start its own large-scale sh ponds but instead plans to increase sh imports into the country.

It was gathered that the

West African country might spend an estimated $100 million on exports of Russian food and agricultural products this second quarter of 2023.

The Russian Agriculture Ministry's Agroexport Center said it was ready to export such products to Côte d’Ivoire as its market is

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B usi nesses

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promising for exports, including grain, sh, sun ower and soybean oil, processed grain products and prepared meat products, among others.

Russian exports of agribusiness products to Côte d'Ivoire more than doubled to $41.6 million in 2021 from $18 million a year earlier, the report said. This included 96,100 tonnes of wheat worth $26.2 million, 12,900 tonnes of sh worth $8.7 million, 1,100 tonnes of sun ower oil worth $1.7 million and 400 tonnes of ice cream worth $0.5 million.

Statistics show that imports from the Côte d'Ivoire are far higher and grew to $237.5

million in 2021 from $223.7 million in 2020, although by the volume they dropped to 72,600 tonnes from 74,500 tonnes. These imports included 43,800 tonnes of cocoa beans worth $141.8 million, 18,100 tonnes of cocoa paste worth $69.3 million and 3,400 tonnes of cocoa powder worth $8.5 million.

“The decrease in Russian imports by volume was due to the reduction of purchases of cocoa beans and cocoa powder. At the same time, cocoa paste imports showed signi cant growth: 27% by volume and 37.2% by value,” the report said.

Around 7.5 million people

made up the workforce. The workforce took a hit, especially in the private sector, with numerous economic crises since the 2000s. Decreasing job markets posed a huge issue as unemployment rates grew.

With rising unemployment, especially among the youth, experts suggested the government engage in economic diversi cation, focus on support for improving local production. Therefore, preliminary solutions proposed to decrease unemployment included diversifying the economy and increasing nancial support in addressing domestic food security.

With an estimated popula-

tion of 29 million, the economy of Côte d'Ivoire has grown faster than that of most other African countries since independence. One possible reason for this might be taxes on exported agriculture. It is the world's largest exporter of cocoa beans. In 2021, cocoa-bean farmers earned $2.53 billion for cocoa exports. Generally, it is the fourth-largest exporter of general goods in sub-Saharan Africa (following South Africa, Nigeria, and Angola).

By geographical description, Côte d'Ivoire is a country in western sub-Saharan Africa. It borders Liberia and Guinea in the west, Mali and Burkina Faso in the north, Ghana in the east, and the Gulf of Guinea (Atlantic Ocean).

11 green SMEs graduate from EU-funded GrEEn Acceleration Programme

To support mature and growing green and sustainable entrepreneurs who have innovative products and services that do not harm the environment or makes use of waste materials in the Ashanti and Western Regions, SNV Netherlands Development Organisation has been rolling out a 6-month business support and training programme called, GrEEn Acceleration Programme in partnership with Innohub, a business accelerator and advisory hub in Ghana.

The GrEEn Acceleration Programme forms part of the

4-year

Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) Project which is being implemented by SNV Ghana with funding from the European Union Emergency Trust Fund (EUTF) for Africa and the Embassy of the Kingdom of the Netherlands in Ghana.

On Friday, 24 March 2023, eleven (11) green businesses from cohort 3 and cohort 4 of the GrEEn Acceleration Programme graduated after receiving training on securing national and diaspora invest-

ments, meeting environmental and social safeguards requirements, good manufacturing practices and eco-friendly packaging, and many other support services.

Overall, a total of 12 green entrepreneurs representing the 11 greenbusinesses graduated and include: Amdiya Abdul Lati of Eco-Me Africa,Hanna Boakye-Asiamah of Baanuena Farms, Georgina Filson of Gina l Foods Processing, Hospitality & Entrepreneurial Development Training Centre, Michael Acquah of Supreme Pod

Industry Limited and Nana Yaa Manu Adjei of Waterforce Ventures from the cohort 3 batch.

Under Cohort 4: Elizabeth Bayo of Nasag-Lach Company Limited, Louisa Agartha Manu of LOMEL Foods and Catering Services Limited, Mavis Prah of Yebitom, Rita Aku-Shika Diabah of Yesli Ice, as well as Rashida Moro and Zachariah Abubakar, co-founders of Mushfam Enterprise.

Out of the 11 entrepreneurs who graduated from the GrEEn

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Acceleration Programme, 6 of them have been awarded grants totalling three hundred and ninety-seven, thousand, thirty cedis (GHS 397,030) from the European Union and SNV under the GrEEn Innovation Challenge in 2021 and 2022 as well as the GrEEn Business Plan

Competition in 2021 and 2022 to scale up their businesses and create jobs for youth job seekers in the Ashanti and Western Regions. A total of 20 businesses have received training under the GrEEn Acceleration Programme. As part of the graduation cere-

mony, entrepreneurs from the 11 businesses pitched their products and services with Rita Aku-Shika Diabah of Yesli Ice emerging as overall winner and receiving GHS 10,000 from Innohub and Wangara Capital to purchase equipment to scale up production of her natural beverages.

Aside the GrEEn Acceleration Programme that targets matured businesses in the Ashanti and Western Regions, SNV is also rolling out the GrEEn Incubation Programme in partnership with business hubs in these two regions which targets small businesses and start-ups.

Vodafone Red Connect - Building a more engaged and customer-focused workforce

competition.

Vodafone Ghana understands this well and has, for the past few years, been engaging employees on a platform called Red Connect. Vodafone Ghana created Red Connect to help employees bond, network, and rally around common organisational causes.

The platform is not only for networking, however. The latest edition of Red Connect turned the focus on products, services, and customers. On the evening of 21 March, employees of Vodafone Ghana on this edition of Red Connect gathered for an internal quiz dubbed “You think you know?”. The quiz was designed to test employees’ knowledge of Vodafone Ghana’s products and services.

units within the company engaged in the keenly contested event to win prizes. Employees turned out in their numbers dressed in traditional out ts, echoing the Ghana month agenda.

Popular Ghanaian celebrity, David Dontoh, moderated the quiz competition expertly, adding a touch of excitement to the event. He engaged the audience with his witty remarks and humour, and his professionalism made the competition run smoothly.

It is essential to keep employee engagement up as the business landscape shifts. Organisations that invest in internal engagement platforms are better posi-

tioned to build a more productive and engaged workforce, adapt to changing market conditions, and stay ahead of the

“I cannot overemphasise the need for organisations to build a strong customer focus within employees,” says Ashiokai Akrong, Vodafone Ghana’s Human Resources Director. “We believe that the more our employees know about our products and services, the better they can serve our customers.”

Representatives from various

Vodafone Ghana’s strong focus on employees and customers has won many prestigious awards. Earlier this year, the prestigious Top Employers Institute announced Vodafone Ghana as a Top Employer for Ghana and Africa. The Institute recognised Vodafone Ghana as a Top Employer in Ghana ve years ago and in the four subsequent years thereafter as Top Employer in Ghana and Africa. By leveraging Red Connect to foster employee engagement and build a customer-focused culture, Vodafone Ghana is setting itself up for long-term success in a competitive marketplace.

‘Trained disabled persons produce ‘ better results as employees’ – JCS CEO

The CEO of Crystal Lake and JCS Investment Limited, Ms. Patricia Safo, has urged business owners to consider employing persons with disability for increased produc-

By Elizabeth Ayim

tivity and e ciency. According to her, persons with disability when given the relevant training and orientation, work more satisfactorily and e ciently compared to

persons with full abilities, which she believes will boost productivity when they are well trained.

According to her, engaging the services of persons with

disability can have signi cant impact on productivity in business.

Persons with disability often Story continues on page 7

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face barriers that limit their ability to participate fully in the labour force, resulting in reduced productivity for both the individual and the economy at large facing quite a number of barriers to decent work in the rising global unemployment crisis.

Persons with disability form an untapped pool of talent that employers need to explore and they can be very productive within organisations and societies when given the opportunity.

By this, Ms Safo is advocating that employers in the country

are to consider hiring people with disability due to their unique skills.

These individuals she emphasized may have strong visual or spatial skills used in problem solving and have the ability to focus deeply on tasks. Hiring them also promotes diversity and inclusion at the workplace. Diversity of thoughts, pro le, interest, gender and for that matter diversity of any kind makes the workplace richer in terms of perspective and experience and this increases productivity

in the workplace. With the right accommodations and support, persons with disabilities can still be productive members in the society.

It is therefore in this regard that the CEO of Crystal Lake and JCS Investment Limited Ms Patricia Safo has called on corporate Ghana and business owners to engage the services of people with

disability for increased productivity.

Ms Safo made the call when the Safo Family together with JCS Investment Limited and partners donated some Samsung tablets to the pupils and students of Demonstration School for the Deaf in Mampong, Akuapem in the Eastern Region.

They also awarded prices to the best twelve students from Kindergarten to JHS in di erent categories.

The presentation and award of prizes to deserving students and pupils was in commemoration of the two-years anniversary and as part of activities to observe the death of their beloved late father, Daniel Yaw Osei Safo – the Chairman and Managing Director of Combined Farmers Limited who passed away two years ago.

Through one of its partnerships, JCS Investment Limited is extending free training to the disabled community who will need to promote their businesses and products online.

This is a free digital advertising training online which is a 12-week degree program where students learn the basics of digital marketing, marketing strategies, basic digital analytics, content creation and more.

Criteria for selection is anyone above the age of 18 who has a laptop and access to internet connection. The course is 100% free.

JCS Investments Limited encouraged the sta and students of the Mampong Technical School for the Deaf and Dumb to persist in their craft and o er to assist them in advertising their craft.

Agric Minister woos rice investors in Thailand

Ghana’s Deputy Minister for Food and Agriculture (in charge of Crops), Mr. Yaw Addo Frimpong, has urged investors in the Thailand rice value chain to come and invest in Ghana.

He said such an investment will mutually bene t both

Thailand and Ghana, adding that the former has the experience and the technology to support Ghana to become self-su cient in rice production.

Mr. Addo Frimpong, who doubles as the Member of Parliament (MP) of Manso Adubia

Constituency in the Ashanti Region, was speaking at the Thailand-Ghana Business Conference at the Grand Fortune Hotel, Bangkok Sunday, March 19, 2023.

The business conference, which brought together cap-

tains of Thailand rice industry and the Ghanaian delegation to Thailand, led by the Executive Chairman of the Jospong Group of Companies (JGC), Dr. Joseph Siaw Agyepong, was on the theme: “Ghana-Thailand Business Forum; Partnership

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Bene ciaries acknowledging cheers and showing appreciation in a sign language after the presentation and award of prize

for Sustainable Rice Production in Ghana.”

Members of the Ghana delegation included experts and researchers in various elds drawn from the University of Ghana, Legon, University of Cape Coast, Kwame Nkrumah University of Science and Technology (KNUST), Center for Scienti c and Industrial Research-Crop Research Institute (CSIR-CRI), the Ghana Rice Farmers Association, the Competitive African Rice Platform, traditional rulers, metropolitan, municipal and district chief executives (MMDCEs) and private entrepreneurs with the focus on rice, fertilizer, maize, cassava and poultry as well as executives of the Jospong Group of Companies (JGC).

According to the deputy Agric Minister, as a leader in rice production, Thailand can support Ghana in its e orts to close its rice consumption demand gap, and also produce in excess to export to countries within the West African sub-region.

“Our [Ghana’s] consumption demand for rice is between 1.2 million and 1.4 million metric tonnes of rice per annum and with this huge gap, the Ghana government together with the small scale rice farmers are only able to do 600,000 metric tonnes,” he said.

He explained that the business forum was a continuation of the rice project that was started some ve (5) months ago.

This process, he said, was initiated through the instrumentality of the Executive Chairman of the JGC, Dr. Siaw Agyepong.

Following the huge gap in the demand for the consumption of rice in Ghana, President Nana Addo Dankwa Akufo-Addo tasked the Ministry of Agriculture and all in the the private sector to go at any length to ensure self-suciency of rice in the country, he said.

Mr. Addo Frimpong, therefore, commended the initiative by the private sector being spearheaded by the JGC to go into large scale rice production in Ghana, adding that the government of Ghana has given its full support to the project.

He went on to stress that this project will help ll the rice consumption gap in Ghana.

He was also particularly excited at the level of enthusiasm shown in the Ghana-Thailand rice project by stakeholders in Thailand.

“Apart from that, the interest that has been shown by all stakeholders in the rice indus-

try in Thailand is quite remarkable,” he said.

The Chief Executive O cer of the Asian African Consortium (AAC), Mrs. Adelaide Araba Agyepong, who is the wife of Dr. Siaw Agyepong, stressed the need for an all hands on deck approach to make the President’s vision of boosting rice production in Ghana a reality.

“Evidence shows that the vision of ending rice importation in Ghana goes beyond Jospong Group of Companies,” she noted.

She indicated that from the inception of the project (last year-2022) till now, a lot of e orts have been put in by her out t towards actualising the rice project.

“Key among the activities accomplished include the following: the setting up of the Asian African Consortium, as a company to drive the rice project; the engagement of high government o cials including the President of the Republic of Ghana; meeting key sector ministers; key rice sector players and many others,” she pointed out.

Mrs. Siaw Agyepong underscored that the forging of strategic partnerships was fundamental to the success of the

project.

In this regard, she announced that a fully-furnished National Rice O ce for the project has been set up in Accra.

“Three zonal o ces in Koforidua, Kumasi and Tamale for the southern, middle and northern belts respectively will also be ready soon for the project. Adequate and suitable lands have been acquired across the country and ready for cultivation,” she further revealed.

She was upbeat that the visit to Thailand will help concretise and rm up the plans for implementation “as soon as we get back to Ghana.”

In a brief remark, the Executive Chairman of the JGC, Dr. Siaw Agyepong, added his voice to the call by the deputy minister of food and agriculture to captains in the Thailand rice sector to come and invest in Ghana.

He stressed that Ghana was a peaceful and safe haven to do business, assuring them that their investments will be protected.

“I am inviting you to a prosperous country; a peaceful country; a leader in the West African Sub-region, and; a leader in the whole of Africa, especially in the area of peace and stability,” he assured.

Oxford Business Group and ARISE team up for key research tool

A new report, produced by Oxford Business Group (OBG) in partnership with ARISE, explores a drive under way across several West and Central African countries to put environmental, social and governance (ESG) policies and practices at the heart of their economic transformation plans.

Titled “ESG in Africa,” the ESG intelligence study provides in-depth analysis of the region’s changing industrial landscape, including its expanding special economic zones (SEZs), in an easy-to-nav-

igate and accessible format, supported by key data and infographics.

The report tracks the growth strategies taking shape in West and Central African countries, and their increasing alignment with both ESG principles and the UN Sustainable Development Goals.

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out the region’s SEZs.

The study also considers the potential for ESG-inspired policies to help attract sustainability-focused investment for infrastructural development and galvanise international trade growth.

Western Africa’s agricultural activities are a major focal point. In this section, the report highlights the investment opportunities emerging in the industry as part of regional e orts to modernise practices and processes through the introduction of environmentally friendly, tech-led methods.

The importance of introducing programmes and regulatory criteria for maintaining supply chains is also given coverage, with the strides taken by Gabon and Benin to strengthen product lifecycles among the topical issues anal-

ysed.

The report charts the contribution made by ARISE, previously known as Gabon Special Economic Zone, to Africa’s economic transformation e orts and, in particular, the region’s push to become a sustainable, international manufacturing hub.

It features an interview with Gagan Gupta, the company’s CEO and Co-Founder, in which he highlights the potential that Africa’s economic development presents for investment and trade expansion.

“Economic and input diversication also represents an opportunity for alignment with ESG principles and the SDGs, as it could mitigate the economic risks resulting from an over-reliance on speci c sectors, reduce dependence on fossil fuels and create new job opportunities,” he said.

Gupta also shares his views on ESG-aligned opportunities in Africa’s textile industry, in a wide-ranging video interview he gave recently to OBG’s CEO Andrew Je reys, which can be watched here.

Karine Loehman, OBG’s Managing Director for Africa, said the report pointed to a growing recognition among West and Central African countries of the need to make ESG standards a priority when formulating economic development policies and strategies.

“The opportunities for investors to play a part in Africa’s industrial expansion are huge, with waste treatment and renewable energy among the many ESG-aligned segments ripe for growth,” she said. “Looking ahead, we expect the region to remain focused on putting sustainability and inclusivity at the heart of its socioeconomic plans, which

will help to boost foreign direct investment, international trade and job creation.”

The ESG report on West and Central Africa’s industrial transformation forms part of a series of tailored reports that OBG is currently producing with its partners, alongside other highly relevant, go-to research tools, including a range of Future Readiness reports, country-speci c Growth and Recovery Outlook articles and interviews.

The ESG report is now available to view and download at: https://oxfordbusinessgroup.com/reports/how-can-west-and-central-africa-use-esg-to-boost-val ue-added-activity-in-special-ec onomic-zone-esg-report/

Click here to subscribe to Oxford Business Group’s latest content: http://www.oxfordbusinessgroup.com/country-reports

US VP Kamala Harris in Ghana to commence three-day state visit

by smiling broadly and placing a hand on her heart. During her visit, Harris plans to promote economic growth and food security, and to witness rsthand the innovation and creativity taking place on the continent. "What an honour it is to be

here in Ghana and on the continent of Africa," she said. "I'm very excited about the future of Africa."

She was in the company of her husband Douglas Emho and other o cials of the US government.

Kamala Harris, the Vice President of the United States, was greeted with cheers from schoolchildren, dancers, and drummers upon her arrival at Ghana's Kotoka International Airport on Sunday, marking the start of her week-long tour of Africa.

The aim of her visit is to strengthen U.S. relationships with the continent in the face of

global competition over its future.

Harris expressed her enthusiasm for the trip, stating that it further solidi es the enduring relationship and friendship between the people of the United States and Africa.  She was welcomed with Ghanaian and American ags and a display of traditional dancing, to which she responded

Reviewing Russia's trade and business with Africa

Russia, of course, has its own approach towards Africa. It pressurizes no foreign countries neither it has to compete with them, as it has its own pace for working with Africa. With the same optimism towards taking emerging challenges and opportunities in Africa, Russia still has to show, in practical terms, commitment especially with its policy initiatives.

would imply translating the existing business opportunities into reality. And this calls for important ows of investments in priority areas," he said. In addition, Prime Minister Edouard Ngirente pointed at the African Continental Free Trade Area (AfCFTA) and regional integrations of economic communities as another priority to advance quickly Africa's growth agenda and position the continent as an investment destination.

Russian President Vladimir Putin spoke at the International Parliamentary Conference Russia – Africa in a Multipolar World held in Moscow under the auspices of the State Duma of the Russian Federal Assembly March 20. The partnership between Russia and African countries has gained additional momentum and is reaching a whole new level, he noted in his speech, and along the line added that additional opportunities are opening up by the process of establishing the African Continental Free Trade Area (AfCFTA), which began in 2021, which in the future will become a continental market which favors developing ties both through the Eurasian Economic Union and bilaterally.

"Mutual trade is growing every year, which reached almost $18 billion last year. It is unlikely that such a gure can fully suit us, but we know that this is far from the limit. The development of counter commodity exchanges will undoubtedly be facilitated by a more energetic transition in nancial settlements to national currencies and the establishment of new transport and logistics chains," he added.

During the African leaders summit at the Black Sea city of Sochi in 2019, Putin rolled out a comprehensive roadmap, particularly questions relating to the development and consolidation of bene cial partnership with Africa, and that Russia would strengthen overall ties in line with the 2063 concept (agenda) developed by the African Union. In his

speech, Putin

Putin based his arguments on the fact that Africa is increasingly becoming a continent of opportunities. It possesses vast resources and potential economic attractiveness, Putin further noted that interest in developing relations with African countries is currently visible not only on the part of Western Europe, the United States and the People’s Republic of China, but also on the part of India, Turkey, the Gulf states, Japan, the Republic of Korea, Israel, and Brazil.

With a view to expanding trade and cooperation, a memorandum of understanding has been signed between the Eurasian Economic Commission and the African Union Commission at the Sochi Summit. In 2018, Putin's assessment was that Russia's trade with African countries grew more than 17 percent and exceeded $20 billion. Putin would like to bring it (the trade gure) to, at least, $40 billion over the next few years.

Admittedly Russia's trade is consistently straddling since 2019 after Sochi, a position which o cials seem to accept. "Despite illegal sanctions imposed by Washington, Russia and African states are developing trade and economic cooperation. The trade turnover is increasing: at the end of 2022, it reached $17.9 billion," according to Chairman of the State Duma Vyacheslav Volodin, addressing African parliamentarians at the plenary session Russia-Africa in a Multipolar World.

On 29 April 2021, Russian International A airs Council (RIAC), Russian NGO that focuses on foreign policy, held an online conference with participation of experts on Africa. Chairing the online discussion, Professor Igor Ivanov, former Foreign A airs Minister and now RIAC President, made an opening speech, pointed out that Russia's task in Africa is to present a strategy and de ne priorities with the countries of the continent, build on the decisions of the rst Russia-Africa Summit.

"Russia's task is to prevent a rollback in relations with African countries. It is necessary for Russia to de ne explicitly its priorities: why are we returning to Africa? Some general statements of a fundamental nature were made at the rst Summit, now it is necessary to move from general statements to speci city," he suggested.

During his address at the opening of the special panel session on Africa at the St. Petersburg International Forum held June 2021, Rwandan Prime Minister Edouard Ngirente has called upon Russians to consider increasing investment in Africa. That Africa has great opportunities that investors from Russia can take advantage of, among these, are the continent’s young population and workforce, the fast rate at which urbanization is taking place, and the huge potential that has been demonstrated in technological progress in areas like telecommunications and digitization of the society.

"Therefore, advancing our common prosperity agenda

"This could be an opportunity for Russian businesses to invest in infrastructures such as roads, railways, ports, hydropower plants, and internet connectivity that facilitate trade on the continent of 1.3 billion consumers. The investment required is estimated at $130 billion to $170 billion per year," explained Prime Minister Edouard Ngirente.

South African business tycoon, Sello Rasethaba, questioned how Russia was going to establish a thriving trade relationship with Africa for the bene t of all. In reality and e ective practical terms, how does Russia want to reposition itself in relation with Africa? With business relationships, Russia has to consider practical strategies in consultation with African countries. The fact that the middle class is growing in leaps and bounds in Africa makes this market even more attractive and opens more opportunities for Russian businesses.

"The current investment and business engagement by foreign players with Africa is on the increase. There are so many unknowns up there in Russia; it's crucial that Russia has a clear vision of the relationship it wants with Africa. Russia together with African countries must setup sovereign wealth funds using the resources power of those countries," he said.

In an interview with Steven Gruzd, Head of the African Governance and Diplomacy Programme at the South Afri-

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can Institute of International A airs (SAIIA), explained that Africa is a busy geopolitical arena, with many players, both old and new, operating. Apart from EU countries, China and the US. There are players such as Iran, Turkey, Israel, the UAE, Japan and others. Russia has to compete against them, and distinctively remain focused its e orts with strategies.

On the other side, Russia uses the rhetoric of anti-colonialism in its engagement with Africa, and that it is ghting neo-colonialism from the West, especially in relations with their former colonies. It sees France as a threat to its interests especially in Francophone West Africa, the Maghreb and the Sahel. It, therefore, focuses on anti-western slogans as its main trading commodity across Africa. The African Continental Free Trade Area (AfCFTA) could be the strongest dimension of Russia's dealings in Africa.

Many other factors including the geo-political changes are in uencing the United States, European and Asian investors to intensify exploring several opportunities in the African Continental Free Trade Area (AfCFTA), a policy signed by African countries to make the continent a single market. As monitored, foreigners are looking at market for new partnerships. The AfCFTA has unlocked value chains forespecially US investors - in key sectors such as pharmaceuticals, automobiles, agro-processing, and nancial technology.

Unlike Russian ministries, institutions and organizations, the Corporate Council on Africa (CCA), for instance, shares insights on critical issues and policies in uencing the US-Africa economic partnership. It is facilitating trade and investment issues for potential investors interested in pursuing public-private partnerships that support the United States and African businesses, including women-owned and led Small and Medium-Scale Enterprises. The U.S. Agency for International Development is working close with African institutions

and organizations. According to documents, there are an estimated 1,200 U.S. companies operating in Africa.

The Bill & Melinda Gates Foundation has made resonating announcement that the foundation will spend $7 billion, over the next four years, to improve health, gender equality and agriculture across Africa. Strengthening and supporting these sectors have become necessary due to increasing complains about lack of funds and worse, due to the negative impact of geopolitical changes. It will further continue to invest in researchers, entrepreneurs, innovators and healthcare workers who are working to unlock the tremendous human potential that exists across the continent.

In another related development, U.S. Trade Representative Katherine Tai has signed a memorandum of understanding with African Continental Free Trade Area aims at exploring work on the next phases of the U.S.-African trade relationship. United States sees enormous opportunities to improve the longstanding African Growth and Opportunity Act (AGOA) system of trade preferences, which is due to expire in 2025.

"The world that we're living in today certainly has been transformed by signi cant events that we have experienced since 2015, the last time the program was reauthorized," Tai noted during a meeting of trade ministers from Sub-Saharan Africa to discuss AGOA as part of a U.S.-Africa summit in Washington. "We've consistently seen that there are opportunities for the program to be better, there could be much better uptake and utilization of the program."

In fact, AGOA o ers an irreversible solid ground as a "stepping stone to address regional and global challenges," especially with Africa's young and entrepreneurial population, she said, before concluding that "the future is Africa, and engaging with this continent is the key to prosperity for all of us."

Similarly, at least, after its historic UK-Africa Investment Summit held in January 2020, UK has increased its support for business on the continent, a step that aims at strengthening aspects of the planned economic cooperation with Africa. Our random research after the summit, we have noticed di erent priorities – all of which are supporting and strengthening economic partnerships in a number of countries on the continent. The signi cance of these is to help unlock opportunity, spread prosperity and thus transform lives in Africa.

The Department for International Trade said in a media release that it would cut import taxes on hundreds more products from some of the world’s developing countries to boost trade links. It explained further that the measure was part of a wider push by the UK to use trade to "drive prosperity and help eradicate poverty" as well as reduce dependency on aid. The scheme covers developing countries and will a ect around 99% of goods imported from Africa.

South Africa and Nigeria, the continent's two largest economies, make up 60% of the entire UK-Africa trade relationship. Only eight nations from sub-Saharan Africa mostly former colonies count the UK in their top 10 export destinations, including Rwanda, Mauritius, Seychelles, Sierra Leone, Ghana, Mozambique, Kenya and South Africa.

Our monitoring shows that American, Asian, European Union members particularly British investors are strategically leveraging unto trade platforms, working to support the creation of an African Continental Free Trade Area (AfCFTA) because trade integration is such a powerful tool to accelerate economic growth, create employment and alleviate or reduce poverty.

The AfCFTA provides a unique and valuable platform for businesses to access an integrated African market of over 1.3 billion people. The growing middle class, among other factors, constitutes a huge market potential in Africa.

Quite challenging though, but there are new legislations that stipulate localizing production and distribution inside Africa.

Under the current circumstances, what has Russia done to help Africa? It only contributes to deepening social dissatisfaction, increases the fear of vulnerable groups among the population to rising prices of commodities and consumables throughout Africa. Nevertheless, it is so common reiterating that Russia has always been on Africa's side in the ght against colonialism. The frequency of reminding again and again about Soviet assistance, that was o ered more than 60 years ago, will denitely not facilitate the expected bene cial trade and investment ties under these new conditions.

Afreximbank President and Chairman of the Board of Directors, Dr. Benedict Okey Oramah, says Russian o cials  “keep reminding us about Soviet era” but the emotional link has simply not been used in transforming relations. Oramah said one of Russia’s major advantages was the goodwill. He remarked that even young people in Africa knew how Russia helped African people ght for independence. “So an emotional link is there,” he told Inter-Tass News Agency.

The biggest thing that happened in Africa was the establishment of the African Continental Free Trade Area (AfCFTA). That is a huge game-changer, and steps have been made lately in the African countries for creating better conditions for business development and shaping attractive investment climate. "Sometimes, it is di cult to understand why the Russians are not taking advantage of it?  We have the Chinese, we have the Americans, we have the Germans who are operating projects…That is a very, very promising area," Oramah said in his interview 2021.

Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene, has several times high-

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lighted the underlying fact of developing intra-African trade, and even with external players that "the next wave of investment in African markets must focus on productive sectors of Africa's economy in order to drive the continent's industrial development in the decades to come. For foreign investors and traders, it is necessary to support local entrepreneurs to build scale, and therefore improve productivity."

For example, the total United States (US) two-way trade in Africa has actually fallen in recent years, to about $60 billion, far eclipsed by the European Union (EU) with over $200 billion, and China more than $200 billion, as stated by the Brookings Institution in the Africa in Focus post. According to the African Development Bank (AfDB), Africa's economies are growing faster than those of any other regions. Nearly half of Africa's countries are now clas-

si ed as middle-income countries – the number of Africans living below the poverty line fell to 39 per cent as compared to 51 percent in 2021, and around 350 million of Africa's one billion people are now earning good incomes – rising consumerism – that makes trade pro table.

As the o cial Russia's Ministry of Foreign A airs website indicated – it is evident that the signi cant potential of the economic cooperation is far from being exhausted, much remains to be done in creating conditions necessary for interaction between Russia and Africa. At a meeting of the Ministry's Collegium, Lavrov unreservedly suggested taking a chapter on the approach and methods adopted by China in Africa.

Lavrov said: "It is in the interests of our peoples to work together to preserve and expand mutually bene cial trade and investment ties

under these new conditions. It is important to facilitate the mutual access of Russian and African economic operators to each other's markets and encourage their participation in large-scale infrastructure projects. The signed agreements and the results will be consolidated at the forthcoming second Russia-Africa summit."

After the rst Russia-Africa summit held 2019, expectations are high as it o ers the impetus to substantially increase investment in the economy, industry, transport, telecommunications and tourist infrastructures, as well as in high technology, healthcare, urban development, and other elds that are vital to the quality of life. On the contrary, Russians are consistently trading anti-Western slogans and engaged in geo-political rhetoric, instead of investment and business.

Is Russian torn between the

challenges of its own assumptions and understandings about forging trade cooperation with Africa? Are pragmatic measures not necessary for promoting trade between the two regions? Is Russia only paying lip-service to the summit promise of doubling trade with Africa?

Now at the crossroad, it could be meandering and longer than expected to make the mark. Russia's return journey could take another generation to reach destination Africa. With the current changing geopolitical world, Russia has been stripped of as a member of many international organizations. As a direct result of Russia’s "special military operation" aims at "demilitarization and denazi cation" since late February 2022, Russia has come under a raft of stringent sanctions imposed by the United States and Canada, European Union, Japan, Australia, New Zealand and a host of other countries.

China-Russia media roundtable held in Moscow

The China-Russia media roundtable Chinese Modernization and New Opportunities for the World, jointly hosted by China Media Group (CMG) and Rossiya Segodnya International Media Group, was held at the Moscow State Institute of International Relations on Wednesday.

Shen Haixiong, vice minister of the Publicity Department of the Communist Party of China (CPC) Central Committee and CMG President, together with other government o cials, experts and media professionals from China and Russia, shared their insights on the theme of "The Path to Modernization in line with a Country's National Conditions."

Facing the undergoing profound changes unseen in a century, Chinese President Xi Jinping creatively put forward his notion

of "Chinese-style modernization," which shows the wisdom, courage and responsibility of a great statesman with a lofty goal, Shen said.

Shen said CMG will strive to promote the diversi cation and fairness of the international communication pattern, let the world hear more people's voices from all over the world and spare no e ort to help paint a new picture of the modernization of human society that is like a garden where a hundred owers bloom.

"CMG will continue to work hand in hand with the global media to enrich the content of exchanges, expand cooperation channels, promote mutual understanding and friendship among people of all countries, and jointly promote the development of human civilization," Shen said.

Alexey Nikolov, managing director of Russia Today, said the

nature of some Western media to ignore the facts and distort the truth has been exposed under the changing international circumstances.

"In this context, Russian and Chinese media should strengthen cooperation, ful ll media responsibilities, clarify fallacies, distinguish right from wrong,

and jointly help realize fairness and justice in the global public opinion eld," the director said. All guests attending the meeting agreed that China has embarked on a path to modernization that suits its own national conditions, provides a successful model for other countries and opens up new prospects for human civilization.

The Artificial Intelligence Paradox:

As AI continues to advance, it has begun to reshape the way we collaborate and communicate on a global scale. AI-enhanced tools, like language translation and video conferencing software, have made it easier to bridge linguistic and cultural barriers, fostering greater international understanding and cooperation.

The increasing prevalence of AI has raised questions about its impact on foreign intervention, particularly in the areas of diplomacy, cybersecurity, and surveillance.

such as facial recognition and data analysis, has raised concerns about its potential to facilitate foreign intervention and erode privacy. Governments can use AI-driven surveillance tools to monitor citizens, both domestically and abroad, which could lead to a chilling e ect on free expression and democratic processes. This has sparked debates on the need for clear international guidelines on the use of AI in surveillance and privacy protection.

The entry of arti cial intelligence (AI) into our lives has brought about a seismic shift in how we approach technology, research, and collaboration. As AI continues to evolve and become more sophisticated, it raises questions about its in uence on foreign intervention and its role in promoting our technological development to advance our understanding and interaction with outsiders. This article will explore whether the introduction of AI has hindered or facilitated the intervention of foreign entities in promoting technological advancements for the purpose of global understanding and cooperation.

The di erent aspects of AI's in uence on foreign intervention, technological advancements, and global understanding. By exploring these various dimensions, we will seek to determine whether AI has hindered or facilitated the intervention of foreign entities in our technological development and interaction with outsiders.

Since the inception of the eld of AI in the mid-20th century,

technology has rapidly evolved and made its way into various sectors of society. From healthcare and education to nance and transportation, AI has transformed the way we live, work, and communicate. With its growing in uence, AI has also started to reshape the landscape of global collaboration and communication, raising questions about its impact on The concept of AI can be traced back to the ancient Greeks, who imagined intelligent machines and automatons. However, the modern eld of AI emerged in the mid-20th century, with the work of pioneers such as Alan Turing, John McCarthy, and Marvin Minsky. The development of AI has since progressed through several stages, from the early days of symbolic AI and expert systems to the current era of deep learning and neural networks.

AI has made signi cant inroads into various sectors of society, from healthcare and nance to transportation and entertainment. AI-driven technologies like machine learning, natural language processing, and computer vision have enabled groundbreaking applications, including personalized medicine, autonomous vehicles, and content recommendation systems.

AI has the potential to revolutionize diplomacy and international relations by providing data-driven insights, automating bureaucratic tasks, and enabling more e ective communication. AI-powered tools can help policymakers better understand complex global issues, predict potential crises, and develop more e ective strategies for con ict resolution.

Additionally, AI has the potential to assist in disaster response e orts, humanitarian aid coordination, and climate change mitigation.

As AI becomes more advanced, the threat of cyber warfare and foreign intervention in the digital realm has grown signi cantly.

State-sponsored hackers can leverage AI to develop more sophisticated cyber-attacks, while nations can also use AI for defensive purposes, such as detecting and neutralizing threats. The potential for AI to be used in cyber warfare has raised concerns about the need for international norms and agreements to regulate its use and minimize the risk of con ict.

AI is driving a new era of research and development, as machine learning algorithms help researchers identify patterns, make predictions, and uncover insights that were previously unattainable. This has led to breakthroughs in elds such as medicine, climate science, and materials science, accelerating the pace of innovation and opening up new avenues for collaboration between nations.

AI has contributed to signicant advancements in communication technologies, such as natural language processing, speech recognition, and real-time translation. These innovations have made it easier for people from di erent cultures and linguistic backgrounds to communicate and collaborate, thereby fostering greater global understanding and cooperation.

The global AI market has experienced rapid growth in recent years, with countries around the world vying for dominance in this emerging eld. This has led to increased international competition and a race for AI talent, resources, and investment. While this competition can drive innovation and economic growth, it can also raise concerns about the potential for technological

The author: Samuel Shay, is an international business expert and Chairman of leading Israeli tech rm, Gulf Technologies Systems

AI's growing presence in surveillance technologies,

Hindering or accelerating extraterrestrial intervention for technological advancement in our life via the impact of arti cial intelligence on foreign intervention and technological advancement

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imbalances and the weaponization of AI.

AI-powered language translation tools, such as Google Translate and Microsoft Translator, have made signicant strides in recent years, enabling more accurate and e cient translations across a wide range of languages. This has helped to break down language barriers and foster greater cultural understanding, paving the way for more e ective international collaboration and interaction.

AI is transforming global education by enabling personalized learning experiences, automating administrative tasks, and providing educators with data-driven insights to improve student outcomes. As a result, students around the world can access higher-quality education, regardless of their location or socioeconomic background. Additionally, AI-driven tools and platforms can help bridge the global skills gap by providing targeted training and upskilling opportunities, preparing the workforce for the jobs of the future.

AI-powered platforms, such as Slack, Zoom, and Microsoft Teams, have made it easier for teams and organizations to collaborate and communicate across borders, fostering greater international cooperation. These platforms enable more e cient work ows, real-time communication, and seamless integration with other tools, helping to break down barriers and facilitate global collaboration on projects, research, and initiatives.

While AI has the potential to foster greater global understanding and cooperation, it also poses several challenges and risks. These include the potential for AI to exacerbate existing inequalities, the risk of AI being used for malicious purposes, and the challenges posed by AI-driven job displacement. Addressing these challenges will require a concerted e ort from governments, businesses, and civil society to ensure that AI is developed and deployed responsibly and equitably.

As AI continues to evolve, it is crucial to address the ethical considerations and potential negative consequences associated with its development and use. This includes issues related to privacy, fairness, accountability, and transparency. To ensure that AI is developed and deployed responsibly, there is a need for global governance frameworks that establish clear guidelines, norms, and regulations.

In the long run, AI has the potential to promote a more interconnected and cooperative world by facilitating communication, collaboration, and understanding between individuals, communities, and nations. By breaking down language barriers, fostering cultural exchange, and enabling more e cient global cooperation, AI can help create a more inclusive and interconnected global society.

The entry of arti cial intelligence into our lives has undoubtedly had a signi cant impact on various aspects of society, including foreign intervention, technological development, and global understanding. While AI has the potential to revolutionize diplomacy, enhance international collaboration, and promote global understanding, it also presents challenges related to cybersecurity, privacy, and ethical considerations.

Addressing these challenges will require the development of international norms, agreements, and governance frameworks to ensure that AI is used responsibly and equitably. By doing so, we can harness the power of AI to foster a more interconnected, cooperative, and inclusive world, while mitigating the risks associated with its development and deployment.

The entry of arti cial intelligence (AI) into our lives has signi cantly transformed the way we interact with the world around us. As AI continues to advance, there have been numerous debates and theories surrounding its implications for humanity,

particularly in relation to the possibility of extraterrestrial life. One such theory posits that the emergence of AI has hindered the intervention of out-of-Earth foreign entities, such as unidenti ed ying objects (UFOs), with the objective of promoting our technological development for improved understanding and interaction.

This paper explores the theory that AI's presence in our lives has, in fact, hampered the involvement of extraterrestrial beings in our technological progress. We will examine the potential reasons behind such interference and delve into the paradox of AI's role in accelerating or obstructing humanity's ability to engage with UFOs. Throughout history, reports of UFO sightings and encounters have captivated the public's imagination.

While these mysterious occurrences remain unexplained, some believe that they are evidence of extraterrestrial beings' attempts to engage with humanity. This section will provide an overview of UFO sightings and incidents, as well as the potential links between these events and human technological advancements.

The advent of AI has spurred signi cant advancements in various elds, including communication, medicine, and automation. However, it has also given rise to concerns about the possibility of a technological singularity – a hypothetical point at which AI surpasses human intelligence, resulting in unforeseeable consequences. This section will discuss the concept of technological singularity, its potential implications for humanity, and its relevance to the theory of extraterrestrial intervention. This section will explore the crux of the theory: that AI's presence in our lives has hindered extraterrestrial intervention aimed at promoting our technological development. We will analyze the reasons behind this assertion, focusing on the following key points:

1.    The potential for AI to surpass human intelligence and become an obstacle to extraterrestrial interaction.

2.    The notion that AI may render human-made technologies obsolete, negates the need for extraterrestrial assistance.

3.    The possibility that AI could lead to increased secrecy and surveillance, making it more di cult for UFOs to engage with humanity.

To provide a comprehensive analysis of the theory, this section will present counterarguments and alternative perspectives. We will consider the following opposing viewpoints:

1.    The idea that AI could actually facilitate communication with extraterrestrial beings, improving our understanding of UFOs and promoting cooperation.

2.    The suggestion is that technological singularity may not occur, and human advancement will continue to rely on extraterrestrial intervention.

3.    The argument that AI's development might be a result of the extraterrestrial in uence, rather than a hindrance to it.

Beyond the central theory, this section will explore the broader implications of AI's development and its potential impact on humanity's interaction with extraterrestrial life. Topics to be discussed include:

1.    Ethical considerations surrounding AI, such as the potential for misuse and the question of machine consciousness.

2.    The possible consequences of extraterrestrial intervention in human a airs, including the risks and bene ts associated with accelerated technological development.

3.    The role of international cooperation and regulation in managing the potential challenges and opportunities presented by AI and extraterrestrial encounters.

The theory that AI has Story continues on back page

NTHC WEEKLY MARKET SUMMARY

At the j ust ended Treasury Bi ll 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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hindered extraterrestrial intervention aimed at promoting human technological development raises several compelling questions about the role of AI in our society and its implications for our understanding and interaction with UFOs. The paradox of AI's in uence on extraterrestrial intervention highlights the complexities and uncertainties that surround the future of technological advancements and their potential connection with

out-of-Earth foreign entities. While some argue that AI's rapid development may obstruct or negate the need for extraterrestrial assistance, others suggest that AI could actually facilitate communication and cooperation with otherworldly beings.

Furthermore, alternative perspectives propose that AI may be a product of extraterrestrial in uence rather than a

hindrance to it. Ultimately, the debate surrounding AI's impact on extraterrestrial intervention underscores the importance of continued research and exploration in the elds of arti cial intelligence, UFOs, and extraterrestrial life. As our understanding of these subjects evolves, so too will our ability to assess the veracity of this theory and its implications for humanity's future.

By fostering international cooperation, ethical considerations, and responsible regulation, we can navigate the challenges and opportunities presented by AI and potential extraterrestrial encounters.

This approach will not only enable us to better comprehend the role of AI in our lives but also help to advance our understanding of the universe and our place within it.