Business24 Newspaper 6 February 23

By Eugene Davis

By Eugene Davis

No more ‘dumsor’: Ghana Gas secures US$700m deal for second gas

(GPP Train 2), aimed at scaling up the country’s gas resources in line with government’s industrialisation agenda. Integrated Logistics Bureau Limited (intels), Jonmoore International, Phoenix Park Limited, and African Finance Corporation make up the consortium for the project. The gas plant which would be sited at Atuabo in the Ellembele District of the Western Region will have a nominal capacity of 150 million standard cubic feet per day (MMscfd), expandable to 200 MMscfd.

The project, expected to be completed within 24 months, will generate 1,500 direct and indirect jobs within the Atuabo power enclave.

The Chief Executive O cer of the GNGC, Dr. Benjamin K. D. Asante, and Dr. Hilton John Mitchell, a representative of the Consortium signed the agreement on Friday, in Accra. No ‘dumsor’

Addressing the gathering before the signing, Dr. Ben Asante, said the project would enable his out t to become a fully integrated gas services company and provide a reliable supply of gas and gas derivatives in Ghana and the West African Sub-region.

He said it would further ful l Ghana Gas’ vision of supplying gas in a cost-e ective and environmentally friendly manner.

Explaining the signi cance of the project, the Ghana Gas boss said, the new plant, upon coming on stream, would improve the output of liquids processed from natural gas to 80 percent, compared to the existing facility, which produced between 40 and 50 percent of gas liquids.

The plant will help the nation

processed gas, he explained, could be used to manufacture fertilizer, which would boost the agriculture industry and ultimately reduce the country’s fertilizer import.

“The key di erence between the rst processing plant in terms of its output and processing, and this project is that now we have the capability to extract even more liquids from the raw gas train that is coming to us. We are doubling the amount of LPGs, condensing, and things,” he said.

“Currently we use about 90 percent of the gas we process or reproduce for power generation. With this consistent supply from our upstream partners and reliable delivery from our midstream partners, the incidence of ‘dumsor’ has essentially disappeared. This is an e ort from the fact our upstream supply of gas and midstream partners and us (Ghana Gas) have been reliable in ensuring that gas supply and delivery reaches the intended consumers, and ‘dumsor’ will continue to be a thing of the past,” Dr. Ben Asante pointed out.

Boosting supply

In his remarks, the Board Chair of Ghana Gas, Mr Kennedy Ohene Agyapong, said the project, upon completion, would enhance the operations of the company and further boost the utilisation of the country’s gas resources for the government’s industrialisation agenda.

He said the facility will play a critical role to help Ghana achieve its energy transition objectives of using renewable energy sources for industrial purposes and reducing global carbon emissions.

“In this era of the global discourse on transition fuels, it is

socio-economic development of the country,” he said.

On his part, a Deputy Minister of Energy, Egyapa Mercer, said the project would be a useful additional infrastructure in the country’s power generation system.

It would also support the government’s e orts in providing an alternative power supply to drive socio-economic development, he added.

Dr. Hilton John Mitchell, who spoke on behalf of the joint venture partners, expressed the Consortium’s commitment to work collaboratively with the GNGC to deliver the gas processing plant on schedule and in a cost-e ective manner.

The project

The construction of a second train gas processing plant with a nominal capacity of 150 million standard cubic feet per day (MMscfd), expandable to 200 MMscfd, to process incremental raw gas volumes from the Greater Jubilee and TEN elds.

The project formed part of the GNGC’s strategic development plan and is expected to increase the national gas processing capacity to 450 MMscfd.

The new gas processing facility will process raw gas with natural gas liquids (NGLs) being fractionated into pure components like propane, butane, pentane, and stabilised condensate components from the Jubilee and TEN Fields.

The lean gas containing methane and ethane shall be tied into the lean gas export from existing GPP Train 1 and delivered into the onshore export pipes.

Some of the components of the GPP Train 2 are a storage facility, an additional compressor package at Atuabo Mainline Compressor Station, and the provision of utilities and a liquid waste treatment system.

Dr. Ben Asante (2nd right), Dr. Hilton John Mitchell (2nd left) exchanges pleasantries after the signing while other reps of GNGC and Consortium look on

Modernization of regulatory frameworks critical for universal broadband coverage -MTN Group Boss

Africans.

building digital solutions for Africa’s progress requires a lot of investment not only in terms of digital infrastructure across regions but modernization of our policies and frameworks as well as the collective e ort of all stakeholders”.

The President and CEO of MTN Group, Africa’s telecommunications giant, Ralph Mupita, has called for modernization and harmonization of regulatory frameworks to ensure Africa can deliver universal broadband coverage by 2030.

He made these remarks at the maiden edition of the Africa Prosperity Dialogues held at the Peduase Lodge in the Eastern Region of Ghana. The event was attended by several distinguished African leaders including the President of the Ghana, Nana Addo Dankwa Akufo-Addo and the former President of Niger and AfCFTA Champion H.E. Issofou Mohamadou.

Speaking on the theme, “Moving from Ambition to Action: The Role of Telecommunications in

Deepening Intra-African Trade, Challenges and Opportunity,” Ralph Mupita said, “The regulatory frameworks for Africa’s telecommunications industry do not re ect our current advancement. They are still positioned for the era of voice. As the world continues to undergo major digital transformation and disruption, our regulatory frameworks need to evolve to re ect these technological advancements”.

Mr. Mupita underscored the need for intense investment by all stakeholders to achieve universal broadband coverage on the African continent. He said, “Achieving universal broadband coverage on the continent and

He further said, “As telecommunications globally sees rapid technological advancements, the continent needs to work towards having a robust regulatory framework which is relevant for the times and is future t. In line with this, there is also a need for fair share contribution from all ecosystem participants especially the private sector in terms of building and investing in infrastructure. He said this requires a fair share contribution by both local and international players including mobile network operators and OTTs”.

The President and CEO of MTN Group also indicated that given the challenges Africa continues to face - the aftershocks of the COVID-19 pandemic, e ects of the Ukraine war, rising cost of food and fuel prices, in ation amongst others - Africa would need $100 billion capital investment to be able to remain eligible to provide universal broadband for all

According to report by the World Bank: The Broadband for all Working Group, across Africa, where less than a third of the population has access to broadband connectivity, achieving universal a ordable and good quality internet access by 2023 will require an investment of about $100 billion.

The Africa Prosperity Dialogues is organized by the Africa Prosperity Network and is aimed at achieving deeper economic integration between African states in outlining its industrialisation priorities. The Summit amongst other things discussed policies that will ensure the successful implementation of the Africa Continental Free Trade Area (AfCFTA).

The event brought together many Government and business leaders including the Minister of Finance Ken Ofori-Atta and the CEO of the Ghana Investment Promotion Center (GIPC) Mr Yo Grant. MTN Group Senior Vice President for Emerging Markets Ebenezer Twum Asante, MTN Group Chief Sustainability & Corporate A airs O cer Nompilo Morafo and the CEO of MTN Ghana Selorm Adadevoh were also in attendance.

SSNIT wants contribution rate reviewed from 13.5

to

19.2 for enhanced sustainability

percent of salaries for employees totalling 18.5percent, 2.5percent of the salaries are passed on to the National Insurance Scheme, 5.0 percent of salaries are passed on to the second tier and remaining 11percent of salaries is available for SSNIT, the 2020 Auditor-General’s report captured.

be moved up to 19.2percent, in the short to medium term for increased sustainability.” he told members of the Public Accounts Committee,(PAC) when management of the trust appeared before the committee last Wednesday.

The Social Security and National Insurance Trust (SSNIT) has appealed to government to review its contribution rate it is taking from workers, from 13.5percent to 19.2percent for increased sustainability.

SSNIT is a statutory public Trust charged under the National

Pensions Act, 2008 Act 766 with the administration of Ghana’s Basic National Social Security Scheme.

Under the new Pension Schemes (Act 766 2008 and Act 833,2014) contributions are 13percent of salaries for employers and 5.5

According to Dr.John Ofori-Tenkorang, the Director-General of SSNIT, the contribution rate coming to SSNIT was reduced, from 17.5 to 13.5percent adding that there were supposed to be commensurate reduction in benets but “it became clear that the contribution rate we are taking now needs to be looked at, the external actuaries recommended that the contribution rate should

The 2020 Auditor-General’s report urged management to sustain the future of the trust, revealing that they noted from the referred actuarial valuation report that, the recommended sustainable rate of 19.2% is substantially higher than the current contribution rate of 11%. Further, the auditors noted from their analysis of the Trust’s 2018 Financial Statements that, the proportion of contribution used to pay bene ts in 2017 and 2018 is in excess of 90% which implies

Ralph Mupita, MTN Group CEO (right) exchange pleasantries with President Nana Addo Dankwa Akufo-Addo

that investment income will be used in the very near future to pay bene ts.

Action Taken

The proposed strategies to increase Investment Income and Control Cost, according to Dr.Ofori-Tenkorang, includes; rebalance investment portfolio, increase investments in xed Income and reduce position in equities, sell o housing stock to

reduce investment in real estate.

Others are re-invest proceeds from exited equities and sales of real estate assets and invest new allocations of funds in xed income assets, particularly tradeable government bonds.

Also, he explained the rationale behind the low contribution rate, stating that “because our accounts are prepared on a cash basis, any arrears that needs to

be collected is not factored into these projections.

We also need to take a look at our investments, today we talked a lot about investments, being able to streamline those investments and increasing return will also help reduce how much we have to change the contribution rate by and then even in our operations, the way we control our cost and I think the audit report is showing that we have embarked on a cost

control measure in terms of administrative cost and also how we mobilise our additional revenue which you [may have heard that SSNIT is now embarking on a nationwide campaign to roll the self-employed to let every worker know that they can join SSNIT, so we are taking all these actions to increase revenue, rebalance our investment portfolio and monetise non-performing investments and to rationalize our cost base.”

UKGCC applauds the inauguration of the Independent Tax Appeals Board in Ghana

the UKGCC Executive Council, remarked, "we hope that this will enhance revenue mobilisation, through speedy adjudication, accuracy, and fairness in tax dispute resolution".

ing a system of transparency, balance, and increased condence for taxpayers.

The UK-Ghana Chamber of Commerce (UKGCC), a member-based trade association that promotes trade between the UK and Ghana, has applauded the inauguration of the Independent Tax Appeals Board (ITAB) in Ghana by the government.

The Board, created in accordance with the Revenue Administration (Amendment) Act, 2020 (Act 1029), will tackle tax disputes and appeals against objection decisions of the Ghana Revenue Authority.

Anthony Pile MBE, Chairman

of

"This is welcoming news for businesses and investors in Ghana, as taxpayers will be given a chance to have a fair hearing of their cases and a determination of the proper amount of their liabilities by an independent body, before being required to pay them".

In the previous system of tax appeals, taxpayers had to resort to costly and protracted litigation at the courts to have their disputes with the Ghana Revenue Authority (GRA) resolved.

The Board, independent of the Ghana Revenue Authority, will ensure an e cient and cost-e ective appeal mechanism for tax cases in Ghana, thereby provid-

Mr. Pile further added that "we are looking forward to the notice of appointment of the Executive Secretary of the ITAB who will be responsible for receiving appeals".

For years now, the UK – Ghana Chamber of Commerce has been one of the business community’s foremost advocates for tax policy and administration reforms, that best provides an enabling business and investment environment while raising revenues to support the economic development of Ghana.

About the UKGCC

The UK-Ghana Chamber of Commerce (UKGCC) was established in 2016 to promote trade between the UK and Ghana. It is the lead-

ing UK business support organisation in Ghana.

The UKGCC provides exceptional support for its members through the sharing of knowledge and ideas, creating platforms for building stronger networks and providing linkages with Government and its agencies. One of its key foci is to see Ghana become a signi cant economic partner for the UK as an export market, import source, investment destination and vice versa. It exists to further the business interests of its members across both countries and create more business opportunities.

The Chamber is backed by the British and Ghana Governments through the UK-Ghana Business Council and the British Chambers of Commerce in the UK and is Africa Scotland Business Network Strategic Partner.

Bank on the GO!

Ghana Gas signs $700m deal for second gas processing plant

cial technology entity, has been adjudged the Leading Fintech Solution Provider of the Year, 2022, at the second edition of the ‘Ghana Fintech Awards’, held in Accra.

The brand further consolidated its leadership position in Ghana’s Fintech Industry by winning the Fintech & Bank Partnership of the Year, and the Fintech Innovation Company of the Year.

The awards were in recognition of the company’s work and commitment to ensure excellent service delivery across the busi-

well as continuous investment in infrastructure and a renewed focus on customer experience. Executive Director of eTranzact, George Babafemi, in his address on receiving the award, expressed his gratitude to the organisers for the recognition of the hard work and commitment made by the company over the years toward universal nancial inclusion and transformation of the business ecosystem. He said, “as pioneers in the ntech industry, providing bespoke electronic and conve-

nient payment solutions is the rm’s greatest asset. As a company, we thrive in ensuring we provide to customers secure, convenient, and cost-effective means of receiving or making payment, buying airtime or bundle as well as paying bills, at the comfort of their homes and provide tailor-made solutions to suit an organization or individual’s electronic need. This is a great feat for eTranzact, and we are extremely thankful to our customers and colleague workers for giving us a reason to still be in business after all these years. Indeed, being recognised by your peers is a great honour,” Babafemi added. Chief Executive O cer, eTranzact Ghana, John Apea, also commenting on the award said: “We dedicate these awards to our customers, clients, partners, and sta for their un inching support and commitment to eTranzact. We will continue to work hard to provide relevant digital platforms that are cutting-edge, secure, and convenient”.

The second edition of the Fintech Awards, organised by the Ghana Fintech and Payment Association (GFPA), was held in Accra to reward and recognize Ghanaian companies that are contributing immensely to the development and transformation of the ntech space in the country. GFPA has been established to be the voice of the players in the nancial technology space, working to transform citizens' lives in Ghana and beyond while serving the last mile.

It seeks to be a unique ntech and digital payment services association of its kind in West Africa and one of the few dedicated platforms for Fintech companies in Ghana and by extension, Africa to connect with potential investors, partners, and clients. The association strives to bring the best in FinTech companies across the continent, supporting each other's growth and helping to forge lasting relationships with international nancial institutions, corporates, and retail consumers.

eTranzact wins ‘Leading Fintech Solution Provider’ in Ghana

ecosystem.

He said, “as pioneers in the ntech industry, providing bespoke electronic and convenient payment solutions is the rm’s greatest asset.

As a company, we thrive in ensuring we provide to customers secure, convenient, and cost-e ective means of receiving or making payment, buying airtime or bundle as well as paying bills, at the comfort of their homes and provide tailor-made solutions to suit an organization or individual’s electronic need.

provide relevant digital platforms that are cutting-edge, secure, and convenient”.

The second edition of the Fintech Awards, organised by the Ghana Fintech and Payment Association (GFPA), was held in Accra to reward and recognize Ghanaian companies that are contributing immensely to the development and transformation of the ntech space in the country.

eTranzact Ghana Limited, a nancial technology entity, has been adjudged the Leading Fintech Solution Provider of the Year, 2022, at the second edition of the ‘Ghana Fintech Awards’, held in Accra.

The brand further consolidated its leadership position in Ghana’s Fintech Industry by winning the Fintech & Bank Partnership of the Year, and the Fintech Innovation Company of the Year.

The awards were in recognition of the company’s work and commit-

ment to ensure excellent service delivery across the business eco-system in the country as well as continuous investment in infrastructure and a renewed focus on customer experience.

Executive Director of eTranzact, George Babafemi, in his address on receiving the award, expressed his gratitude to the organisers for the recognition of the hard work and commitment made by the company over the years toward universal nancial inclusion and transformation of the business

This is a great feat for eTranzact, and we are extremely thankful to our customers and colleague workers for giving us a reason to still be in business after all these years. Indeed, being recognised by your peers is a great honour,” Babafemi added.

Chief Executive O cer, eTranzact Ghana, John Apea, also commenting on the award said: “We dedicate these awards to our customers, clients, partners, and sta for their un inching support and commitment to eTranzact. We will continue to work hard to

GFPA has been established to be the voice of the players in the nancial technology space, working to transform citizens' lives in Ghana and beyond while serving the last mile.

It seeks to be a unique ntech and digital payment services association of its kind in West Africa and one of the few dedicated platforms for Fintech companies in Ghana and by extension, Africa to connect with potential investors, partners, and clients.

The association strives to bring the best in FinTech companies across the continent, supporting each other's growth and helping to forge lasting relationships with international nancial institutions, corporates, and retail

Zimbabwe working towards its own food security

For a while now, Zimbabwe seems to be one of the few African countries working seriously towards its food security. While most African goverments, even in spite of the persistent geopolitical warring situation, still prefer spending their budget on importing grains and wheat from Russia and Ukraine. In a sharp contrast, Zimbabwe concentrates on supporting its local farmers with the primary aim of increasing signicantly its agricultural production. Our research shows that Zimbabwe has recorded its highest wheat harvest last agricultural production year. According to Agricultural and Rural Development Advisory Services, Zimbabwe emerges as one of the few African countries which have adopted an import substitution agricultural policy and strategically working for self-su ciency.

On January 30, Belarusian President Alexander Lukashenko, paid a working visit to hand over in a special ceremony Belarusian agricultural vehicles, tractors and equipment to President Emmerson Mnangagwa in Harare, Zimbabwe.

"First of all, I want to thank the Americans and the entire Western world for having imposed sanctions against us. Otherwise, American and German tractors would have come instead of Belarusian ones to this huge eld," Lukashenko said.

On this view, Zimbabwe is an African country that has been under Western sanctions for 25

By Kestér Kenn Klomegâh

much-needed machinery and other inputs from driving agriculture. The Belarusian leader noted that in Zimbabwe there are the friends of Belarus, with whom Minsk is building cooperation for the sake of achieving the common good.

Some experts and international organizations have also expressed the fact that African leaders have to adopt import substitution mechanisms and use their nancial resources to strengthen agricultural production systems. Establishing food security is important for millions of people facing hunger in Africa and is crucial for sustainable economic development and the long-term prosperity of the continent. Addressing food security, therefore, is a primary key for a rising Zimbabwe.

After years of negotiations, Zimbabwe nally recieved its US$58 million farm mechanization facility from Belarus, while another deal worth US$100 million signed, according reports from the Zimbabwe's presidency in Harare.

Zimbabwe and Belarus agreed on assembling 3000 tractors, agreed on the supply to Zimbabwe di erent kinds of machinery and equipment made in Belarus for agriculture and timber industry. Both have further agreed to establish a mechanization programme for the farming and timber industries. It provides for over 800 units of equipment to be delivered in two batches. These include among others: 60 self-propelled grain

drills, 474 tractors of di erent power capacities, fth wheel trucks with semi-trailers for transportation of heavy equipment and four dump trucks. The agreement makes provision for other equipment such as six semi-trailers with hydraulic manipulator for transportation of construction machinery, 10 drop-side trucks, re ghting equipment critical in forest business, cities and other communities and emergency rescue operations. The equipment also includes 30 motorcycles and a complete set of spare parts for every type of machinery and equipment delivered.

Zimbabwe has been looking foreign partners from other countries to transfer technology and industrialize its ailing economy.

The report said that the Government had launched a similar facility from a U.S. company, John Deere, estimated at US$50 million intended to boost agricultural production. Negotiations are also underway with Chinese manufacturers to set up bus assembling plants locally after government recently procured buses from the Asian country.

Zimbabwe and Belarus o cials noted that the unique relationship would help in technical skills transfer and transform agricultural sector in Zimbabwe. "The implementation of the project involves an approach that includes not only full responsibility regarding warranty and service support, provision of spare parts, training

of local specialists, but also providing advanced technologies, comprehensive decisions and solutions in agriculture for every agricultural period from cultivation, seeding, irrigation, planting to crop harvesting," according to the report from the Zimbabwe's Ministry of Agriculture.

In addition to the statement, the Belarus cooperation deal and the commissioned John Deere project for the supply of agriculture mechanization equipment were a culmination of the re-engagement policy of President Emmerson Mnangagwa.

The principle for re-engagement and engagement is open to all the countries in the world. Zimbabwe is ready to cooperate in business with external countries and for the bene t of the people. President Mnangagwa has reiterated that Zimbabwe is open for business. Mnangagwa's previous working visits to Minsk has helped to break barriers that have impeded progress in its economic diplomacy and to seek an increased business cooperation with Belarus, an ex-Soviet republic and a member of the Eurasian Economic Union. The member of the Eurasian Economic Union are Armenia, Belarus, Kazakhstan and Russia. Zimbabwe is a landlocked country in southern Africa. Mineral exports, gold, agriculture, and tourism are the main foreign currency earners of this country. The mining sector remains very lucrative. Its commercial farming sector is traditionally another

German Finance Minister calls on G20 to form Creditor Committee on Ghana’s debts

and debt operations to be on a sustainable path to economic development over the next few years.

He commended the government for its e orts to restructure public or sovereign debt and for trying to support private sector banks to preserve their capital and their capability to nance further growth.

On his part, Mr Ofori Atta said Ghana was in the middle of an IMF programme, which required the support of Germany such as forming a creditor committee at the Paris club to accelerate the decision-making process and supporting the IMF fund board to enable Ghana to get approval in March 2023.

committee under the common framework to deal with Ghana’s debt restructuring e orts. Speaking after a meeting with Ghana’s Finance Minister Ken Ofori-Atta, Mr Lindner said the support from the creditors would enable the country to restore economic growth.

“For Germany, it is essential to see a fair burden sharing among all creditors We need a creditor committee as soon as possible. I would like to call on all creditors to join the e orts as swiftly as possible” he said, and urged China, as an important bilateral creditor of Ghana, to participate in such an e ort.

common framework is part of this solution and Germany is willing to play its role,” he said. The bilateral talks centred on International monetary fund (IMF) sta engagement and structural reforms in the energy sector, among others.

Mr Lindner said it was important for Ghana to keep its credibility and turn around its economy quickly to be able to take advantage of the nancial markets.

He said Germany was aware of Ghana’s challenges and had “a vital interest in the success of the Ghanaian economy and we want to see West Africa as a whole stay stable. We are interested in the

He said, “We know that there are opportunities for this country. It has dynamism and we really appreciate the e orts the government has made by expanding its human capital and focusing on improving social mobility but due to the COVID-19 pandemic situation and the impact of the Russian and Ukraine invasion the situation unfortunately is getting worse.”

He said Germany, which was Ghana’s second largest bilateral creditor, was ready to support Ghana’s e ort to bounce back economically.

He said Ghana needed to balance its scal measures in the budget, ensure macro-economic recovery

“Germany has always been strong with their support for us in terms of energy, nancial services and social inclusion and these are all critical components of our growth programme,” he said.

He said Ghana’s debt pro le had increased by some 20 per cent and it was necessary to look at the concept of debt restructuring and debt forgiveness.

He said Ghana’s international creditors would need to take a decision based on common humanity, understanding and how to reposition the global framework “so that we can all have resilience.”

Source: GNA

Government withdraws US$672 m back-tax demand from MTN

Revenue Authority (GRA) has Ghana’s decision came after “extensive and productive discussions” during a 21-day negotiation period between the revenue authority and the mobile-phone operator, MTN said in a ling on

The decision to withdraw the tax bill came after the Ghana Revenue Authority last month sent Ghana’s biggest corporate taxpayer a surprise claim for the period between 2014 and 2018.

The potential ne represented about 5% of MTN’s market capitalisation and the government’s decision “removes a threat to this year’s shareholder returns,”

Bloomberg Intelligence analyst John Davies said in a note.

The Ghana government has been demanding some of the nation’s

largest companies to pay millions of dollars of back taxes.

Gold Fields Limited, Kosmos Energy Limited and Tullow Oil Plc have received similar bills. All of the companies dispute the government’s claims. Ghana lost access to international capital markets because of its ballooning debt and loan-service costs.

The government has been forced to allocate most of its revenue to service an estimated GH¢576 billion of public debt.

It is restructuring most of its obligations amid a slump in the Cedi, and is seeking a $3 billion loan from the IMF.

Source: Bloomberg

MTN Group Limited, Africa’s largest wireless carrier, has said a GH¢8.2 billion ($672 million) tax bill it received from the Ghana

300-bed accommodation facility named after Joseph Siaw Agyepong commissioned

sionalism and excellence,” he underscored.

“I am inspired by what I am witnessing here today and this has further re-inforced the company’s resolve to continue to contribute our widow’s might to the 37 Military Hospital in other areas of interest which they wish to embark on,” Dr Siaw Agyepong assured.

President Nana Addo Dankwa Akufo-Addo has commissioned a 300-bed accommodation facility for young soldiers at the 37 Military Hospital.

The facility, christened Joseph Siaw Agyepong Young Soldiers’ Block, was nanced and built by the Jospong Group of Companies (JGC).

Commissioning the facility at a colourful ceremony on Wednesday, February 1, 2023, President Akufo-Addo reiterated his government’s commitment to provide decent accommodation facilities for the Ghana Armed Forces (GAF).

For that reason, he stated that the edi ce built at the 37 Military Hospital is named the Joseph Siaw Agyepong Young Soldiers’ Block, after the Executive Chairman and Founder of the Jospong Group of Companies, Dr Joseph Siaw Agyepong.

According to the President, the project forms part of the Phase 1 and 2 Barracks Regeneration and the Military Housing Projects in 2020 and 2021 respectively, all of which are aimed at providing decent accommodation for the military.

The Defense Minister, Dominic Nitiwul, said one of the major challenges facing GAF was accommodation, and therefore, appealed for assistance.

“Mr. President, since you assumed o ce, you have paid much attention to our accommodation issues. You started with the cutting of a sod in May 2017, for the Barrack Regeneration Project which saw the construction of 112 units of 2-bedroom ats at the Daula Barracks and 6 Garrison in Tamale,” he stated.

“Furthermore, you initiated the Military Housing Project which saw a monumental increase to the accommodation stock of the Ghana Armed Forces,” said Mr Nitiwul.

In a brief remark, the Executive Chairman of the JGC, Dr Siaw Agyepong, expressed his profound gratitude to the Military High Command for the opportunity to support a worthy cause.

He indicated that his group sees the gesture as an opportunity to contribute their quota through its Corporate Social Responsibili-

ty (CSR) to an institution as important as the Ghana Army.

“The contribution of the military to the socio-economic development of Ghana cannot be overemphasised and so it is any institution that is linked to their health and wellbeing.

…This is why any contribution to support the smooth running of their major health facility– 37 Military Hospital—will not be overlooked by the JOSPONG GROUP OF COMPANIES,” he averred.

The JGC in a bid to give back to society, he explained, supports institutions whose mission resonates with the corporate mission of JGC as the company’s corporate mission is contributing to saving lives in the society.

According to Dr Siaw Agyepong, his out t has enjoyed a good collaboration with the Armed Forces as their drivers and Ecozoil sta members have benetted from the rich expertise from various outlets of the GAF.

“This is indeed my personal admiration for the military for the mark of discipline, profes-

Earlier, in a welcome address the Chief of Defense Sta (CDS) of the Ghana Armed Forces, Vice Admiral Seth Amoama, noted that the 37 Military Hospital being the biggest in the Ghana Armed Forces is confronted with dire accommodation challenges for soldiers within the hospital.

Though he was elated about the increasing number of young soldiers and its positive impact on the services he providing accommodation for them was a huge challenge.

In view of the above, in 2016, he recounted that the then Commander, Brigadier General Ralph Ametepi, with the approval from the General Headquarters, initiated the construction of a 300-capacity young soldiers' accommodation project from the internally generated funds, but bemoaned that the project stalled at 50% in 2018.

According to him, it was against this backdrop that the Chief of Defense Sta in 2021 appealed to the Jospong Group of Companies to assist the project through its corporate social responsibility.

How to transform African agriculture

By Safia Boly and Omid Kassiri

The COVID-19 pandemic, compounded by supply-chain disruptions and surging in ation, has highlighted the fragilities of Africa’s food systems, leading to a 60% increase in hunger across the continent in 2020 alone. And climate change, which is expected to degrade freshwater ecosystems and arable lands, rendering vast areas of Africa uninhabitable, will only make things worse.

While the pandemic and the war in Ukraine have exacerbated global food insecurity, throwing millions into extreme poverty and reversing decades of progress, the situation is even more dire in lower-income African countries. The continent’s population has reached 1.4 billion and could double by 2050, while agricultural productivity, despite improvement, remains signi cantly below global benchmarks. This has forced governments to rely more on food imports, pushing up prices.

But there are some bright spots. Ethiopia, Morocco, and Rwanda, for example, have managed to boost agricultural productivity by de ning a vision for their domestic industries, bringing together public and private stakeholders, building the necessary infrastructure, and engaging in continuous learning and adaptation. As a result, these countries have increased agricultural output, improved food security, raised farmers’ incomes, and strengthened local food systems’ resilience to external shocks.

Consider Ethiopia, where domestic yields have increased by 76%, and total food production has risen by 50%, since the establish-

ment of its Agricultural Transformation Agency in 2010. According to ATA estimates, agricultural reforms have saved 150,000 people from starving to death, reduced the number of undernourished Ethiopians by 11.5 million, and lifted roughly 286,000 people out of poverty.

Similarly, Morocco’s Plan Maroc Vert (Green Morocco Plan), launched in 2008 to modernize domestic farming and to promote sustainable economic growth, has revitalized the agriculture sector. The Agricultural Development Agency, set up to support the plan’s implementation, estimates that agricultural GDP grew 5.25% a year from 2008-18, faster than the economy as a whole (3.8%). This resulted in a 117% rise in agricultural exports and 342,000 new jobs. Watershed management has also improved, with drip-irrigation systems quadrupling to 542,000 hectares.

Since 2004, Rwanda has been developing and implementing its Strategic Plan for the Transformation of Agriculture (PSTA). The International Food Policy Research Institute estimates that every dollar that the government spends on agriculture corresponds to a $2.05 gain in GDP, implying that the program delivered $730 million in economic gains between 2018 and 2021, helping to lift 1.1 million people out of poverty. Rwanda’s Strategic Plan has also improved watershed management and soil conservation.

What these three countries have in common is a deep understanding of the challenges ahead, a clear vision for meeting them, and a strong commitment to

developing the e ective governance mechanisms needed to implement solutions. Building on these examples, we have identied four key principles that could help other African countries successfully transform their own agriculture sectors. For starters, consistent planning is critical. Governments must establish clear mandates, spell out their priorities, align policies, and mobilize resources. In Rwanda, the PSTA’s mandate was to use market-led growth to overhaul the country’s largely subsistence-based agriculture. In preparing the latest version of its plan, known as PSTA 4, the government worked with development partners to devise a forward-looking strategy that aligned with Rwanda’s commitments under the African Union’s Malabo Declaration and the United Nations Sustainable Development Goals. PSTA 4 focuses on encouraging private-sector investment and shifting to higher-value agricultural commodities to increase pro ts and capture productivity gains, in line with the vision that the Rwandan government set out nearly 20 years ago. Second, to ensure that projects are sustainable over the longer term, policymakers must secure the backing of top political leaders, relevant local governments, and other stakeholders such as development partners and civil-society groups. In Ethiopia, then-Prime Minister Meles Zenawi publicly backed the establishment of the ATA. Subsequent governments have continued to support the plan, even giving the ATA priority access to scarce hard

currency to fund imports.

Third, by structuring agricultural plans around a t-for-purpose organization, governments could create a governance structure that enables skilled sta to work with all stakeholders in leading the transformation e ort. The ATA, for example, combines local and international expertise and coordinates with ministries responsible for land, water, agriculture, and industry to develop and implement policy.

Lastly, a results-oriented implementation process could lead to better outcomes. By developing a deep knowledge base of the agricultural sector and then adapting as new data emerge, governments can identify quick wins and programs with high potential for expansion. Morocco, for example, devised speci c plans for 16 regions and a roadmap setting out more than 700 projects. To track progress, o cials monitored speci c performance indicators such as yield and productivity for livestock, poultry, and other sectors.

Africa, of course, is incredibly diverse. Its countries vary in language, geography, population size, political systems, and economic policies, ruling out a one-size- ts-all approach. But Ethiopia, Morocco, and Rwanda, though very di erent from one another, have managed to improve food security and economic well-being by adhering to the four principles set out here. Their success shows that a sustainable, climate-resilient continent is not only possible but well within reach.

Enabling your employees for high performance

George Ezenwa is the Director of an academic institution. He is feeling so sad about the performance of his employees. He really doesn't know what else to do that will work. But he truly desires better performance from his employees. Having asked for my services I decided to help. First, I decided to meet with the management team, had a chat with them.

Then I proceeded to the other teachers and employees, I asked them several questions. Those questions revealed the intelligence of George's employees. Moreso, it also revealed the missing ingredient in George's work with his employees.

George had been a command-and-control type of leader and did not understand how to enable his employees for high performance. He style was to issue out orders and instructions to be carried out by his workers. Unknown to him with his approach he shut down the initiative and creative ability of his workers. Every business leader needs to understand that his/her employees need his/her support to achieve higher levels of e ectiveness. Here are a few thoughts to help you drive high performance in your organization: - O er Performance Feedback That Inspires Your People to Improve Most performance feedbacks leave employees dejected, demotivated and emotionally disconnected from the organizational goals.

In research conducted by Gallup, only "26%of employees strongly agree that the feedback they receive helps them do their work better." You know, there are three levels of engagement every leader would likely get from his team members and each level comes with a di erent response: Commitment or cooperation: At

this level workers are engaged; excited to get work done, taking responsibility, using their initiatives and actively participating in achieving organizational goals and objectives.

You will always nd workers at this level creative and innovative. Compliant: At this level, workers simply do what is required of them as long as you are supervising them or o ering incentives and perks. But they might slack if you take your eyes away from them or withhold the incentive and perks unless for fear of being red or some other punishment.

The down side is that they can't o er their best; they rarely innovative or take responsibility for the work do. Complacent: they are unconcerned, disengaged. Could even resent you and as well inhibit productive activities in your organization.

They could also, in uence other workers to take their way. You achieve performance feedback that help your people to improve, that gives you commitment level of engagement by functioning as a coach and not a boss. - Provide Them with The Right Tools, Equipment and Resources to Work within a certain organization I consulted for, the manager told me that she's given assignments in the organization that she has to use her personal money to accomplish not because the organization is running short of nance.

Now, this demotivates employees. Why should your employees or team members struggle with their machines in trying to get the work done, not having sucient resources. Part of the support and enablement you give them is to provide them with su cient and state-of-the-art equipment for the work they have to do. This

way they stand a better chance to produce the results you want. Of course, I also understand that an organization might be dealing with challenging situations and could be unable to su ciently provide certain resources or equipment required for her workers to produce desire result, yet in such situations your people should be clearly made to understand the situation. You have to let them know that as soon as the situation improves a change will be a ected. And more importantly, let them know what you're doing to improve the situation and ask for their cooperation to improve the situation.Communicate frequently with them. I often tell business leaders/managers that when they communicate with their employees or team members three things are important: alignment, plainness and respect. Alignment: You have to ensure you don't say one thing today and another tomorrow. Don't make a promise to your employees and when they expect you to ful ll it you tell them it's a management slip of tongue. When a leader acts this way, he's shooting himself on the leg because he'll loose the trust and commitment of his employees or team members. When can't meet up with your promise ensure you let your people know the di culty you're facing, apologise and ask for their forgiveness. This will strengthen the trust they have in you. Respect: Let your words show that you respect and value your employees or team members.

If you don't, they'll become demotivated and you'll loose their commitment. Your team members want to know that you value their contributions in accomplishing the organization's goals. It's part of the ways you

support them.

Plainness: Ensure it's clear enough and easy for them to know what you want - your expectations. According to Gallup, "50% of employees clearly know what is expected of them at work." In another organization I consulted for, I noticed that the supervisors we're nding it dicult to understand exactly what their leader wanted. And it was emotionally troubling for them. At a point they lost their condence in getting the work done because they didn't know what to do that will appeal to their leader. More importantly, you have to learn to listen to your employees. They know a lot that you're not taking advantage of to move the organization forward. Get them to talk to you while you listen. They truly would want to help with ideas and strategies.

Not like a certain organization where management announced a new program welcoming suggestions from employees. Then a machine operator went to his supervisor to suggest a way to improve the work process on his line.

The supervisor said, “I don’t pay you to think; I pay you to work. So, tomorrow morning when you come in, just leave that big brain of yours in your car." The operator answered, “I can’t sir. I drive a compact car.” And he never o ered another idea to the supervisor. His motivation was turned o . You want approach things in way that will help achieve high performance with your people. Godswill O. Erondu is the pioneer, Africa Workplace Leadership Summit. A leadership expert that works with organizations - private and public - to transform their leadership and culture in order to achieve superior performance and increased productivity.

ECA affirms support for Ethiopia’s trade policy agenda

Organisers of the annual Tech Job Fair (TJF) are geared up to give potential employees and employers yet another thrilling and exciting opportunity to recruit and be recruited into the job market after a media launch of the fair in Accra.

The 2023 edition of the Tech Job Fair (TJF) scheduled to come o on Wednesday, February 22, 2023 at the Accra International Conference Center (AICC) will be held under the theme ‘Leveraging technology to create inclusive and sustainable jobs’. Before the main event takes place, there shall be several other stakeholder engagements for employers and employees separately.

The one-day job fair is to bring together companies looking for new talents, on one hand, and job-seeking graduates on the other to exhibit and ll up job openings through an innovative rapid recruitment process.

Chief Executive O cer (CEO) for the Ghana Investment Fund for Electronic Communications (GIFEC), Prince Ofosu Sefah, who was the guest speaker, noted that the Tech Job Fair is in line with government’s agenda to bridging the unemployment gap in the country.

“One of the things I like most about the upcoming Tech Job Fair is the fact that, once again, it is going to create an opportunity for industry players to interface with tech job seekers so they can dialogue on how best tech job vacancies can be lled. Government therefore throws its full weight behind the 2023 Tech Job Fair. My assurance to IIPGH and AFOS Foundation and all partners is that government will continue to support initiatives

such as these.”

Director General for National Information Technology Agency (NITA), Mr. Richard Okyere-Fosu, on his part highlighted that the country is thriving on digitalization and stressed on the need for businesses and individuals to be digitally inclined to stay relevant in the industry.

“All these require new set of skills, from the security man at the company entrance to the board chairman. All must be trained and retrained with modern day employable skills. The Tech Job Fair is one of the best platforms for the new age,” he said.

AFOS Foundation represented by Hanna Schlingmann, project manager AFOS/DigiCAP.gh, said:

“We are very optimistic that the young professionals who have participated in the digiCAP training have amazing career opportunities ahead of them. With the DigiCAP Junior Consultant Program, the AFOS Foundation encourages young talents to develop an entrepreneurial spirit, so they can become not only well-paid employees, but even well-paying employers.”

Her call to action for industry professionals was: “A good investment we can make is to open our doors, to engage with the new generation not as potential competitors but as emerging professionals, collaborators and innovators for our shared future”.

Executive Director for the Institute of ICT Professionals Ghana (IIPGH), David Gowu said the fair seeks to provide the avenue to understand the needs and expectations of all stakeholders and development partners of Ghana concerned in creating opportuni-

ties related to jobs and the future of work.

“Debates have always been rife as to whether the graduate unemployment situation in Ghana is occasioned by lack of job openings or a mismatch of skills in relation to the available jobs. It is in response to this dilemma that the concept of a Tech Job Fair (TJF) was conceived and birthed in 2021 and it is a great opportunity to nd or change to a new job, learn from the best experts in IT & digital industry and as well learn from and network with peers,” he said.

He added that the fair is part of a broader agenda to “ensure that an enabling environment is created for young people to access decent jobs, so they bene t from the digital transformation agenda of Ghana.”

Other partners that spoke in support of the event while extending invitation to all and sundry included the National Service Scheme (NSS), Jobberman Ghana, L’aine Services, and the Chamber of Telecommunications Ghana, Leti Arts, Netherlands Trust Fund, International Trade Centre, GIBT, and Admintelecom.

Participation

The job fair is FREE and open to all jobseekers and companies with ICT-related jobs. Exhibitions at the fair however will be restricted to partners and companies with track record in the tech industry. These companies will have access to a large pool of fresh talent seeking their very rst job breakthrough as well as experienced professionals seeking to switch jobs or careers. What is signi cant is that job seekers will be asked to complete an online survey to help match their

skills with to be exhibited at the fair.

Beyond on-site participation at AICC, provisions will be made for virtual participation to ensure that as many companies and individuals that are interested would have the opportunity to participate if there be a hindrance to attend in person.

Partners

The lead organizer for the Tech job Fair, the Institute of ICT Professionals Ghana (IIPGH) is a professional association of experts and businesses in the ICT industry in Ghana and beyond. The Institute is a connect of ICT professionals from corporate organizations, educational institutions, startups, government institutions, development partners, and civil society organizations to create a vibrant ICT ecosystem.

The Tech Job Fair is part of the DigiCAP.gh initiative, a project funded by German Federal Ministry for Economic Cooperation and Development (BMZ) via Sequa as part of the Special Initiative Partner Africa with AFOS Foundation, a business-oriented and value-based foundation for international development cooperation, as the implementing partner.

Other collaborating partners for the fair include, Netherlands Trust Fund, International Trade Centre, the Ghana Chamber of Telecommunications, DgiCAP.gh, Jobberman Ghana, L’AINE Services, GIBT, Admintelecom, MTN Ghana, Leti Arts, Google Developer Group, University of Cape Coast (UCC), Accra Technical University (ATU), National Service Scheme (NSS), Delegation of German Industry & Commerce in Ghana (AHK), IoT Network Hub among others.

The Event

This year’s Tech Job Fair is anticipated to host over 2000 potential jobseekers with over 50 institutions representing industry. The event will be held in four sessions including an exhibition of booths, presentation sessions, breakout sessions, and plenary discussion sessions. The event will be streamed live on social media and on the institute’s online portals. Pre-event activities have been lined up to prepare jobseekers for opportunities before the fair, they include virtual sessions by tech experts, Industry-Academia Tech Dialogue, media interviews and engagements.

See the list of the richest people in Africa in 2023

Nigerian industrialist Aliko Dangote, whose fortune dropped $400 million to $13.5 billion over the past year has emerged as the richest person in Africa for the 12th year in a row.

South African luxury goods magnate Johann Rupert place second in consecutive years, despite falling $300 million to $10.7 billion while Metals and Mining magnate Nicky Oppenheimer and his family placed third with $8.4 billion. This was contained in Forbes Magazine's newly released 2023 list of Africa’s billionaires.

Per the list, Africa’s wealthiest people shed a combined $3.1 billion in the past 12 months.

As a group, the continent’s 19 billionaires are worth an estimated $81.5 billion – down from $84.9 billion a year ago, despite one more billionaire in the ranks.

The 4% dip follows a 15% jump last year on the back of soaring stock prices across the region.

These tycoons’ fortunes faded in sync with equity values around the world, with the S&P All Africa index dropping more than 20% in the rst nine months of 2022, before starting a late-year rally that left the index down just 3% through January 13, the day Forbes locked in stock prices and exchange rates for the list.

Billionaires from just seven of Africa’s 54 countries made the ranks.