Business24 Newspaper 21st February 2022 by Business24 Online

Otumfuo urges businesses to spread to regions P.2

ProSupp’s workshop on modern procurement comes off Feb 23-25 P.5

MONDAY, FEBRAURY 21, 2022

NO. B24 / 308 | NEWS FOR BUSINESS LEADERS

B U S I N E S S24.C O M.G H

Rice production gets major boost P.2

Q4 DACF to be disbursed by March-end, Finance Ministry says P.2 BY EUGENE DAVIS

Cocoa industry remains key to economy—GTA P.5 Subscribers: In this rapidly changing business environment, make sure your digital account is activated so you can read the latest financial and business news. Visit business24.com.gh/subcribe to activate your account.

Embrace distance education to help bridge gap - Prof Alabi P.7 Follow us online: business24gh

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| EDITORIAL/NEWS

MONDAY, FEBRAURY 21, 2022

Time for a 24-hour port system? 1

Wash your hands 2

Cover your cough 3

If you are sick, wear mask Brought to you by

learing agents at the ports have made a plausible for 24hour operations by service providers, a concern that have been raised by sister stakeholders within the port community. The bar has already been raised by private concessionaire Meridian Port Services (MPS) whose big-ticket investment Terminal 3 has grossly transformed the port value chain. Perhaps this is a good prospect that could be explored as we seek workable solutions to enhance the ease of doing business and general port efficiency and

competitiveness. According to ACHAG, operating a 24-hour port would hugely drive down some avoidable costs to the business whilst boosting the state’s revenue from the ports. “If a terminal operator closes at 4pm with my container stuck there, it means the container is attracting demurrage and rent,” ACHAG’s interim president Yaw Kyei argues. Truly, as clearing agents, they should be worried that terminal operators offering similar services are operating in disparity. “So, to bring uniformity and enhance revenue maximization at the ports, we should apply the same performance rate to

all operators,” he further said to buttress his point. Demurrage and rent charges have long remained the albatross of the port business, albeit they being avoidable. Several interventions and trade-facilitating actions have minimally tackled the situation. The call to have a 24-hour port is therefore very tenable if we are to overcome this phenomenon and we hope that government and all port stakeholders would take this request into consideration. The endgame for this great suggestion will be desirable with the port posting strong revenue to support the nation’s development.

Q4 DACF to be disbursed by March-end, Finance Ministry says continued from page 1

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The fourth quarter disbursement of the District Assembly Common Fund (DACF) is expected to be ready by end of March 2022, a Deputy Minister of Finance, Abena Osei Asare, has told Parliament. “We have paid some of the DACF, last year we paid and we will continue to pay what is due. We have paid 2021 DACF Q1, Q2, the outstanding is 2021 Q4 which we expect to pay end of March,” she said. Her comments follow the minority caucus’ complaint over delays in the payment of allocations from last year amid calls to haul the finance minister to parliament to brief the House on 2021 disbursements. The minority have accused the Ministry of Finance of being heavily indebted to the DACF to tune of over GH¢2billion. In 2019, the amount owed was GH¢700m, per The Auditor General’s report. In 2020, the Ministry of Finance was owing to the DACF over GH¢587m. Ahmed Ibrahim, the First Deputy Minority Whip who made this claim on the floor of the house said: “The whole of 2021, the GHc2.4bn [we approved for DACF], you have not transferred a pesewa. Let us arrange to meet the Finance Minister so he comes to tell us

Common Fund Administrator, Irene Naa Torshie Addo

how much was approved and how much disbursement was made.” He also adds that by practice statutory funds comprising DACF, GETFUND, NHIL are brought before the house three months after the passage of the budget, however these statutory funds are yet to be programmed and urged the Majority Leader to hasten its process before the house adjourned. Majority Leader, Osei KyeiMensah-Bonsu, on his part stated it is important to ensure that the district assemblies live up to their bidding. “The development of the district does not depend entirely on DACF and that is why we should ensure

the collection of taxes, levies and duties to be used for development,” he proposed. The 1992 constitution, under article 252 imposes an obligation on the Administrator of District Assemblies Common Fund to present to parliament a formula for the distribution of monies allocated by parliament for assemblies every year. The fund is to be distributed among the assemblies on the basis of a formula proposed by the Administrator of the Fund and approved by parliament. The total allocation for the year is therefore based on five percent of projected national revenue.

MONDAY, FEBRAURY 21, 2022

| NEWS

Rice production gets major boost BY EUGENE DAVIS

Rice Production in Ghana is to get a boost with the intervention of a United Nations Industrial Development Organization (UNIDO) Technical Assistance Project contributing to the achievement of sustainable and higher inclusive value creation. The project will strengthen the competencies of the value chain in order to catalyze the use of modern technologies, realise higher value creation and comply with market requirements. Mr Frakhruddin Azizi, UNIDO’s Representative to Ghana, said the US$3.6million project would build the capacity of valuechain actors, mainly farmers, agro-traders, crop processors and public support institutions by way of a range of activities focusing on quality assurance, increased productivity and business competitiveness as well as the supply of equipment. The project is dubbed: “Promoting technological upgrade and quality assurance system to achieve higher value addition in the post-harvest processes of rice value chain.”

He said the three-year project would commence this year and would be focused in the Northern and Ashanti Regions with funding from the Japanese government with UNIDO implementing jointly with the Ministry of Food and Agriculture. He said was to contribute to the food security challenges in the country as well as the overall national agenda and to the attainment of the Sustainable

Development Goals. Mr Mockizukihi Hisanobu, Ambassador of Japan to Ghana, said last year, the Government of Japan and UNIDO joined hands to implement ten UNIDO projects across ten countries, including Ghana, to mitigate the severe and long-lasting effects of the COVID-19 pandemic. He added that Japan considers capacity development as central to the socioeconomic development of any country and “we have confidence in the ability of technology to provide substantial benefit in agriculture.” The ambassador said the experience Japan had gathered over the years in the areas of capacity development has been very useful in their own success story. “Therefore, when we build the capacity of farmers to improve the quality of a high market value crop like rice, the impact can be transformative and open opportunities for smallholder farmers,” he added. He said the project was important from the viewpoint of their commitment to promoting

the concept of human security, which was a key development cooperation objective of Japan’s Official Development Assistance. Mr Yaw Frimpong Addo, the Deputy Minister in Charge of Crop at the Ministry, said rice was an important strategic crop in the economy of Ghana, which was cultivated as both food and cash crop. He said rice consumption continued to increase due to population growth, urbanization and change in consumer habits. Between 2008 and 2020, paddy rice production was in the range of 302,000 MT and 987,000 MT (181,000 to 622,000 MT of milled rice) with large annual fluctuations. He said the total rice consumption in 2020 amounted to about 1,450,000 MT, which was equivalent to per capita consumption of about 45.0kg per annum. The minister said the country depended largely on imported rice to make up for the deficit in domestic rice supply, and its rice self-sufficiency ratio declined from 38 per cent in 1999 to 24 per cent in 2006 and increased to about 43 per cent in 2020.

Otumfuo urges businesses to spread to regions The Asantehene, Otumfuo Osei Tutu II, has advised businesses to recognise their operations as contributing to the growth of Ghana’s economy. He said economic growth created wealth, some of which went directly into the pockets of workers to improve their wellbeing. Hence, he said, businesses were expected to grow and expand their services to other regions, including Ashanti. Otumfuo Osei Tutu gave the advice when some senior executive members of InvestCorp Asset Management Limited (InvestCorp) paid a courtesy call on him at the Manhyia Palace in Kumasi. The visit was to enable the company donate to the Otumfuo Foundation in line with the company’s corporate social responsibility objectives for 2022, introduce the company and its management to the Asantehene, and to seek his guidance and blessings for the new year, among others. The Managing Director of

InvestCorp, Mr Henry SunkwaMills, gave a brief background of the company to the Asantehene. He said InvestCorp was founded in 2014, and shared the firm’s vision as well as some key milestone events in its history. Mr Sunkwa-Mills highlighted how prudent business management and regulatory compliance had ensured the firm’s survival during periods of difficulty in the industry.

He intimated that the application of the firm’s core values of Innovation, Integrity and Leadership had contributed to its growth and goodwill. Otumfuo Osei Tutu applauded the company for recognising the need to pay homage to him and commended the management for managing the company’s clients’ funds with integrity and professionalism. InvestCorp made a donation

to the Otumfuo Foundation, demonstrating the firm’s commitment to impact the community through educational initiatives. The donation formed part of its 2022 corporate social responsibility campaign, which is focused on alleviating the financial hardships faced by some orphans by covering their tuition and healthcare costs.

MONDAY, FEBRAURY 21, 2022

From selling used clothes to pursuing a master's degree in finance: Foster Akpakli’s Ashesi story Once unsure that he could get a university education, recent graduate Foster Akpakli '21 is now an inspiration for many young students in his community

As a teenager, Foster often had to find part-time work to support his family and help pay for his education. Some of his earliest work experiences were in Kantamanto, one of Ghana's biggest used clothing markets, where his parents sold for a living. During his final year in high school, Foster spent a lot of time thinking about what his future would look like. He was aware his family could not afford his tertiary education, and he often wondered if he would further his education. He actively considered joining his parents in Kantamanto for some years to save some income for his tertiary education. However, during an event organised by his high school counsellor, he learned about different scholarship programmes at various universities in Ghana. One of the universities highlighted during that event was Ashesi. Hakeem Usman Bin '20, who had also attended Accra Academy and spoke at the event, shared his experiences as a full scholarship recipient at Ashesi. Foster tracked

Hakeem down after the event and asked more questions about Ashesi. Thanks to Hakeem, he also connected with other students at Ashesi, who gave him more insights into the university. He was intrigued and decided to apply. "I remember reading stories about Ashesi students who worked on projects to solve sanitation problems in Ghana through a university entrepreneurship training program," says Foster. "These and many other impactful stories sparked my interest in Ashesi. It seemed like the right place to learn how to contribute meaningfully to my community. If I also received a scholarship, I knew that it would relieve a significant financial burden for my family." With the help of his teachers and other Accra Academy alumni on campus, Foster applied to Ashesi and was accepted. He would become the first person in his family to attend university, a

proud achievement for him and his parents. "Most parents in my community now use me as an example for their children," Foster says. "One called me after my graduation recently to thank me and mentioned that I had inspired her children to believe that they could succeed through school as well." In September 2017, Foster arrived at Ashesi's campus determined to make the most of the opportunity and with a list of things he wanted to achieve by his graduation. He soon became a recognised leader, volunteering as a peer tutor and providing out of class support to his classmates and other students in calculus, economics and finance. He also volunteered to teach math to junior and senior high school students in Ashesi's surrounding community of Berekuso. "There were many times in my early days here when I wondered if I would be able to fit in," Foster

recounts. "I used to write down all my assignments because I wasn't familiar with computers. I had to adjust to the way of life at Ashesi very quickly, and the expectations pushed me to grow. In his senior year, Foster was accepted into the Master's in Finance programme at Arizona State University (ASU) through its accelerated Master's programme partnership with Ashesi. Through the programme, students spend three years at Ashesi, two years at ASU, and earn both a Bachelor's (from Ashesi) and Master's Degree (from ASU). In his final year at ASU, Foster hopes to use his finance skill and learning to improve revenue outcomes for small business owners like his parents. His experiences with educational opportunities have also motivated him to commit to helping students like himself access educational and financial resources. "I realise that Ashesi prepared me well, and I have been able to engage the community both inside and beyond the classroom," says Foster. "My experience here has exceeded all of my expectations. I arrived here looking for a degree, but in addition, I gained strong values. I asked for friends but got a community. I wanted a good learning experience but got an extraordinary one. I cannot truly express how happy and grateful I am to be an Ashesi graduate."

MONDAY, FEBRAURY 21, 2022

| NEWS

ProSupp’s workshop on modern procurement comes off Feb 23-25 Multidisciplinary professional service group, Prosupp Consult, will organising a three-day capacity building training on contemporary procurement practices top-level managers and procurement and supply chain practitioners in the country. The three-day workshop on the theme “Contemporary Stores and Inventory Management” comes off from February 23-25 at the Coconut Grove Regency Hotel in Accra. It is targeted at public and private sector stores and inventory managers, supply officers, procurement managers, logistics managers, internal auditors, finance managers, Entity Tender Committee members and all responsible for overseeing stores and inventory operations in their organisations. “It has become imperative to focus on strategic stores and inventory because most organisations are struggling with dwindling working capital and cashflows for effective operations; but still have high investments and cash lockedup in goods, spare parts, items, MROs, stationeries etc. This module is designed to put the public and private sectors’

Stores and Inventory systems in context. It will be based on an experiential learning; applying theory in a practical way to foster good practice and application,” ProSupp said in a statement copied to the media. According to the organisers, the strategic application of stores an inventory helps to contribute to the efficient and effective utilisation of public and private financial resources; which significantly improves the competitive advantage of companies’ financial and sustainable business objectives and increased return on investments (ROIs). “Public sector stores and inventory practitioners feel marginalised, but this course will let them appreciate how they can contribute strategically to the reduction of government’s expenditure,” the statement added. The workshop will be facilitated by Mr. Collins Agyemang Sarpong, an award-winning procurement and supply chain management professional with over twenty years practice in both local and international organisations in various industries including financial institutions, United

Collins Agyemang Sarpong MGIPS, MCIPS, MBA, CIPP

Nations, construction, embassies and manufacturing. He is also an adjunct lecturer, board member, independent consultant and the current president of Ghana Institute of Procurement and Supply. ProSupp Consult is a multidisciplinary professional service group drawn from diverse top quartile multinational and

public firms with the view to leveraging on their expertise and experiences to provide a dynamic procurement and supply chain management services and trainings; capable of meeting both simple and complex situations in the delivery of goods, works and services using cost effective methods and processes to impact profitability of their clients.

Cocoa industry remains key to economy—GTA Mr Akwasi Agyeman, Chief Executive Officer of the Ghana Tourism Authority says the cocoa industry remains critical to the local economy. He, therefore, urged players in the sector to leverage the growing interest of the populace in cocoa products and create more jobs to grow the local economy. Mr Agyeman said this during the premiering of a movie, “Heroes of Africa” at the Silverbird Cinema to mark the National Chocolate Week celebrations. The movie showcased the early life of the late Tetteh Quarshie, how he journeyed to Fernando Po and returned to plant cocoa at Akuapem Mampong. Mr Agyeman said the movie did not only show the sacrifice, commitment and patriotism of Tetteh Quarshie but exhibited Ghana’s arts, culture and heritage. Matilda Asare, a Kumawood Actress and Executive Producer of the movie, in an interview with the Ghana News Agency, said the movie was to promote cocoa and the exploits of Tetteh Quarshie as part of Ghana’s culture and heritage. “As a creative people what we can do is to portray our cultures in the movies to the world.”

Alisa Osei-Asamoah, President, Tour Operators Union of Ghana, (TOUGHA), said the movie depicted the reality of the struggles Tetteh

Quarshie overcame. “One lesson I learnt is that God uses people to bless nations, so I believe Tetteh Quarshie was used. Going to

Fernando Po, it was not by chance, God wanted something for Ghana,” she added.

MONDAY, FEBRAURY 21, 2022

| NEWS

No increment in transport fares yet – GPRTU The Ghana Private Road Transport Union (GPRTU) has urged the public to disregard the 30 per cent increment in transport fares by some private commercial transport operators.. The group on Thursday announced a 30 per cent increment in fares effective Friday. The group associated the increment to the rising cost of fuel. But the GPRTU has urged the public to disregard the new fare since it was yet to conclude negotiations with government on Monday, February 21. “We have not yet concluded negotiations so the public should ignore those reports. Officially, we have planned that we will issue a statement to announce the new rate after our meeting with the transport minister on Monday,” the Deputy General Secretary in Charge of Operations GPRTU, Mr Richard Yaw Amankwah, told the Ghana News Agency.

Mr Amankwah described the group’s decision as a “betrayal”. The group associated the increment to the rising cost of fuel. But the GPRTU has urged the public to disregard the new fare since it was yet to conclude negotiations with government on Monday, February 21. “We have not

yet concluded negotiations so the public should ignore those reports. Officially, we have planned that we will issue a statement to announce the new rate after our meeting with the transport minister on Monday,” the Deputy General Secretary in Charge of Operations GPRTU, Mr Richard Yaw Amankwah, told the

Ghana News Agency. Mr Amankwah described the group’s decision as a “betrayal”. The Coalition of Commercial Transport Unions of Ghana had initially proposed 30 per cent increment in transport fares but reduced it to 20 per cent after meeting with Mr Kwaku Ofori Asiamah, the Minister of Transport on Monday, February 14, 2022. Two separate meetings between the transport operators and the transport minister had ended inclusively, with the Government pushing for a 10 per cent rate against the 20 per cent being demanded by the transport operators. The transport operators had argued that the hikes in fuel prices had taken a toll on their businesses, adding that a market survey it conducted last month had indicated that the prices of essential input for their operations, including spare parts and lubricants had gone up by at least 35 per cent. GNA

Embrace distance education to help bridge gap - Prof Alabi A former Vice Chancellor of the University of Professional Studies (UPSA), Professor Joshua Alabi has called on the government to embrace scientific and other forms of digital education platforms such as Open and Distance education to help bridge the gap at Ghana’s tertiary education level in relation to enrollment at the pre-tertiary and tertiary. According to Prof. Alabi, the gross enrollment ratio in Ghana at the tertiary level is a little over 20 per cent, and there was therefore the need to bridge the gap. Prof. Alabi was speaking on behalf of former President John Dramani Mahama at the induction ceremony of Professor Richard Asiedu Addo as a professor of the Alfred Noble University in Ukraine at a ceremony in Accra. The ceremony was officiated by Rev Professor Emeritus Edwin M Korley on behalf of the President of the university. He expressed the hope that the collaboration between Prof. Asiedu Addo and the Alfred Noble University would also facilitate Open and Distance Education in Ghana. Professor Alabi in congratulating Prof. Asiedu Addo also urged him to continue to show commitment, integrity and above all profess the truth. “Professing the truth in our part

of the world goes with its own challenges but you have to be firm and focused. His Excellency John Mahama as a former Soviet trained knows the quality of education that comes from Ukraine and he is very confident that Ghana education would benefit from this collaboration The ceremony was chaired by Daasebre Kwebu Ewusi VII Paramount Chief of Abeadze Traditional Area and graced by some Members of Parliament, University Professors, politicians, chiefs , some members of the clergy among many others.

| C O M M E N T/A N A LY S I S

MONDAY, FEBRAURY 21, 2022

Conditions for approving E-Levy

n behalf of more than half the population of Ghana who are opposed to the Electronic Transaction Levy (E-Levy), I want to sign a pact with President Nana Addo Dankwa Akufo-Addo. We will approve his E-Levy in return for the following: He must swear to discontinue the use of that private super luxury jet which he rents for his trips. Ghanaians are so acquainted with hardships that anything suggesting a life of luxury sins against the very nature of the social contract he signed with the people of Ghana. If he desires to be in the hearts of Ghanaians for all time, as President Kufuor does, long after his term, here is a piece of my mind. To continue to use that aircraft will amount to telling Ghanaians that “mo ka no koraa na meye no more”. Abandon all plans to buy a new presidential jet. Far from being unimportant, the case is that its time is not now. Sacrifices and belt-tightening must be a two-way street. If ordinary Ghanaians are abandoning even tro-tro to go by foot (because of transport fare increases, occasioned by fuel price hikes, which have become a weekly affair), we cannot expect less from our President. Why must we pay above GH¢10,000 a month (!) to members of the National Media Commission (NMC)? It is a useful constitutional body and the members are doing a yeoman’s job, but why must the poor be burdened under the yoke of COVID-induced and government-inflicted economic hardships, while only a few meetings (even if they are lifeand-death) earn a class of people in excess of GH¢10,000,00 a month! It is morally reprehensible, totally unjustifiable as doctors toil day and night saving people from death, often summoned by phone from the comfort of their beds in the middle of the night? Nurses are emptying toilet pans into which bedfast patients have moved their bowels - like mere latrine-boys. Parliament must be told to stay where they are. A new

Parliament building is a luxury we can do without, for now. It is economically unjustifiable in our present circumstances. We must put a stop to any plan to create new constituencies and, therefore, increase the number of MPs. The 1992 Constitution calls for it, yes, but the constitution was made for man. As matters stand now, even the present 275 are about 100 too many. Self-inflicted Aren’t some of our hardships self-inflicted? I have, since 2017, asked why any black African government, with an economy as tattered as we have in Ghana, should pay allowances to teacher and nursing trainees? Allowances made sense in the mid-to-late 1950s immediately after independence when the country desperately needed teachers and nurses. But that paradigm has shifted since the mid-to-late 1990s. Today, senior high school (SHS) graduates are paying bribes to be admitted to nursing and teacher training schools. Private nursing schools are springing up like Japanese mushrooms. Worse, we are

barely able to afford their salaries when they pass out. Bawumia is finding it hard to withdraw it because the mantra, “we shall restore nursing and teacher training allowances”, came from his mouth in 2016. I suspect that the New Patriotic Party’s (NPP) only reason for maintaining the allowances is the fear of what National Democratic Congress (NDC) will say. Free SHS is great: it should continue forever; however, isn’t it time to listen to Ken Ofori Atta? One of his first statements as Finance Minister in 2017 was that he would have wished that the scheme was made optional. Citing his own circumstances, he suggested that people like him who could (and can) afford to pay must be given the freedom to do so. No government (apart from Gadhafi’s Libya) runs a country where pupils and students pay nothing, wear free uniforms, eat three meals a day, free and are supplied books provided by government. Such freebies exist only in countries known as “utopia”. Coups

We hate coups but we will not fight against coup makers only for our democratically ensconced Members of Parliament (MPs) and executive appointees to abuse their office and impoverish the economy to the tune of US$3 billion a year through corruption, and their unending excessive demands, especially of MPs. The economy is being bled pale. The centre is not holding. Everybody is hitting the streets – even NABCO beneficiaries! Word is that they have not been paid for five months. Also said to be beating the war drums are the Youth in Afforestation who also, I am told, have not been paid for four months; the Ghana Chamber of Construction Industry (GhCCI) claims government is indebted to contractors to the tune of GH¢1.8 billion; caterers who cook for the School Feeding Programme have not been paid for many months. Why?

THE WRITER IS THE EXECUTIVE DIRECTOR, CENTRE FOR COMMUNICATION AND CULTURE, E-MAIL: ASHONENIMIL@GMAIL. COM

MONDAY, FEBRAURY 21, 2022

| NEWS

First Lady donates GH¢50,000 to Appiatse Support Fund The First Lady, Mrs Rebecca Akufo-Addo has donated GH¢50,000 to the Appiatse Support Fund to help with the reconstruction and rehabilitation of the Appiatse community in the Western Region following last Month’s destruction of the community from an explosion. The First Lady said she has already made an earlier donation of some relief items to the victims of Appiatse and that the GH¢50,000 was a top up. She said the incident is a huge tragedy that has troubled all Ghanaians and as a senior citizen of Ghana and a mother full of empathy for her children, it is only right that she also adds her contribution to help Appiatse.

The First Lady also encouraged all Ghanaians to do what they can to help restore the livelihoods of the people of Appiatse. “We all have to do our bit to help restore their homes and their lives.” The Chairperson of the Fund, Rev. Dr. Joyce Aryee on behalf of the committee expressed gratitude to the First lady for her gesture. She said the First Lady has proven that she is indeed a mother of the nation, adding that she knows her contribution will go beyond material things considering her soft spot for women and children.

Africa and the EU seal a “renewed partnership” in Brussels The EU and the African Union (AU) sealed a “renewed partnership” in Brussels on Friday, including the launch of a €150 billion European investment strategy and increased aid to produce vaccines against Covid in Africa. The Europeans are also paving the way for a greater reallocation to Africans of the International Monetary Fund’s (IMF) special drawing rights for rich countries, but without a firm commitment, according to the joint declaration adopted at the 6th summit of the two organisations. “Our common vision (...) is to consolidate a renewed partnership for solidarity, security, peace and sustainable economic development,” pleaded the African and European leaders, who have been meeting since Thursday to “reinvent” their relationship and “install a new software”, according to the formula used by Senegalese President Macky Sall. 150 billion over seven years The meeting was an opportunity for the 27 countries to launch a global investment strategy with at least 150 billion euros over seven years to “help projects wanted and carried by Africans”, with priority given to transport infrastructure, digital networks and energy. All this while ensuring “accountable, transparent and inclusive governance”, according to the

declaration. The Europeans, who promise to have provided a cumulative total of at least 450 million doses of anti-Covid vaccines to Africans by the summer, have also pledged to help African countries produce messenger RNA vaccines on their soil, a programme unveiled on Friday by the World Health Organisation (WHO). The EU will also mobilise €425 million to speed up vaccination campaigns by supporting the distribution of doses and the training of medical teams. On the other hand, advocating a controlled transfer of technology,

the EU leaders reiterated their opposition to the lifting of patents on vaccines, which has been fiercely demanded by their African counterparts, in particular South African President Cyril Ramaphosa. EU support for peace operations The final declaration also calls for “voluntary and ambitious contributions” from rich countries, which can redistribute to Africans their Special Drawing Rights (SDRs) -- convertible securities created by the International Monetary Fund and allocated to its member states, which can spend them

without going into debt. So far, the Europeans have collectively reallocated $13 billion of their SDRs to Africa, out of $55 billion reallocated by rich countries globally, far short of the AU’s $100 billion targets. With coups and terrorism fuelling instability in Africa, and in the wake of the announcement by Paris and its allies of their withdrawal from Mali, the EU has also pledged to support peace missions and operations led by African forces, by training them and strengthening their equipment and capabilities. - Africa news

| F E AT U R E

MONDAY, FEBRAURY 21, 2022

I Want to Sue God! —Blasphemy or satire?

hen many people for the first time hear the title of our new play, I WANT TO SUE GOD!, it sends them into a moment of bewilderment. They begin to ask a world of questions and wonder how much guts it took us to make such a bold statement. The question on the mind is, “Can a man ever sue God? And even if they could, what could the reason be? Who will mediate a case between man and God? If a man ever sued God, could they win? What happens to them if they lose?” While some are anxious to know how on earth a man will sue their Maker in heaven and in which court that will happen, others are quick to conclude that it is such a blasphemy for a man to dare to take on a deity in court. That brings us to the multi-million-dollar question, “Is I Want To Sue God! blasphemy or just another satire?” In I Want To Sue God!, a young man invests his entire life savings into his wedding only to be utterly disappointed by the return on his investment ― his wife. She is indeed everything but a wife. The ambitious young man goes on a mission to sue the deity who established the union. This social drama was first staged in February and March 2016 at University of Ghana and Kwame Nkrumah University of Science and Technology respectively. Thereafter, it has been staged on different platforms within the country and abroad. With a focus on how many people, especially the young ones, are misled into marriage because of the excitement about the pomp and pageantry that comes with weddings, the musical uses drama, spoken word and dance to tell its beautiful story. Considering the theme of the play, one realizes that someone wanting to sue God for their unmet expectations is not farfetched at all. Day in and out, we all look out for someone to blame when our expectations are not fulfilled. Some even go to the extent of blaming their parents for giving birth to them without their consent. Whew! Life can be hard and we must be intentional not to blame

others when it fails. If we would have celebrated the success alone, we must learn to not apportion blame when failure comes. Frankly, everyone has once reached an “I Want To Sue God!” moment in their lives before. We have all experienced that moment when we blamed everyone for our woes except ourselves. We blamed our family and sometimes friends and even the government. In finding fault with others, we forgot how we perfectly played a role in the circumstances we are currently drowning in. We were ready to blame everybody except assessing our own selves. “I Want To Sue God!” is a sober reflection of a people who will blame everybody before they consider blaming themselves. It is a mirror of a people who think no one is perfect except themselves. When our businesses fail, we blame our staff and not how we misused funds. We assume fixing a country is someone’s duty and not ours. Identifying a problem is the first step to solving it. Unfortunately, oftentimes, we are the problem. Our problems are almost always never solved because we are always pointing fingers at everybody except our own selves. We end up solving some parts of the problem while the root of the problem grows deeper and deeper. Who do you blame when life doesn’t happen according to your plans? Do you blame people you were looking up to for help? When you are not able to achieve your set goals, who do you hold responsible for your failure? Those who take responsibility of their mistakes take responsibility of their lives. If you find yourself entangled in any problem of a sort, look for the solution within before you look without. Admit your mistakes and rectify them quickly. The solution to most of our problems is sitting right inside of us. I Want To Sue God! is a test of our character of responsibility. If we are intentional about our choices and decisions, we will all mold the future we want to have. Our future is only a product of our choices today. How our lives will turn out solely rests in our choices. The

only person to blame when it messes up is our own selves. Is your life what you want it to be? Are you fulfilled? Who do you blame when things don’t go as you expected them to? God or the devil? Have you taken the time to do a detailed assessment of your own self and how you have wittingly or unwittingly contributed to your current woes? Sometimes, the only devil standing between us and our destiny is our own character. We may be our own demons. Our poor choices and decisions keep hurling us behind while all others are moving forward.

Before we play any blame game, we must take a retrospect of our lives and rectify any fault therein. Is I Want To Sue God! blasphemy or not? Well, maybe it is. Maybe it is not. Find out on 5th and 6th March, 2022 at National Theater.

The writer is a playwright and Chief Scribe of Scribe Communications, an Accra-based writing company (www. scribecommltd.com). His play, I Want To Sue God!, is Saturday, March 5 & Sunday, March 6, 2022 at 3pm and 7pm at National Theater. Visit www. scribeproductions.com for more details.

| AUTOMOBILE

MONDAY, FEBRAURY 21, 2022

What does 2022 hold for AI and ML in the automobile sector? BY AMAN SINGH

rtificial Intelligence, a revolution that has taken the world by storm. Spanning various industries and an extensive spectrum of applications, we live and breathe AI. An industry greatly influenced and benefited by this massive phenomenon is the Automobile Industry. From self-driving cars, electric vehicles to driver and vehicle health monitoring systems, AI and ML have sunk their roots deep into the mobility ecosystem. Let’s see what role AI and ML will play in transforming the automobile industry in 2022. Electric Vehicles (EVs) With Artificial Intelligence and Machine Language taking center stage across numerous arenas in the automobile industry, the EV sector is the most prominent. In stark contrast to the traditional IC engines that are a product of 100+ years of research and development, the EV is still at an evolutionary stage and is yet to be fully embraced across mainstream vehicle platforms. However, as concerns for planet-friendly and emissionfree transportation grow more profound, the focus on EVs as the next automotive frontier is poised to increase. Electric Vehicles have provoked an immense stir in the market with attributes like sustainability and efficiency at the forefront. As an added advantage, automobile manufacturers are constantly amplifying their efforts to introduce a vast set of AI-driven features. Machine and deep learning algorithms are being used to build complex driver monitoring systems that analyze driving patterns and cognitive behavioral functions like drowsiness and alcoholinduced inebriation detection and security facets like biometric authentication. Another crucial aspect constantly being worked on is range prediction in EVs. In addition to driving behavior attributes like acceleration, braking, and average speeds, battery management systems are influenced by ambient variables like temperature and humidity. Automotive researchers are

conducting comprehensive research and are engaged in developing complex algorithms that analyze all these conditions and increase the accuracy of the range prediction models. Charging infrastructure is crucial to the mass adoption of EVs. Harnessing the power of Artificial Intelligence, efforts are being made to develop systems that reference geospatial data to recommend proximate charging stations with cognizance of rapid or slow charging facilities according to the requirement of the vehicle at a given juncture. Autonomous Vehicles (AVs) Edging a step closer to the vision of flying cars, we have assembled ones that can self-drive. The A in AVs can be indubitably ascribed to Artificial Intelligence. Cognitive intelligent systems employ neural networks to offer radical features such as blind-spot monitoring, traffic analysis, and driver-assist steering to prevent accidents and maintain safety standards. Other added advantages introduced through AI, including adaptive cruise control and autonomous parking, further contribute to driving convenience. From RoboTaxis and Autonomous Delivery Solutions to Advertising Vehicles, the AV market continues to grow at an extraordinary pace. Motorsports The world of Motorsports has caught the AI bug as well. Artificial Intelligence is influencing auto racing in various ways. Features like surrogate modeling to speed up simulation turnarounds, revamping traditional

engineering and design solutions, and even segmenting the fan base for improved advertising are all boons of AI. Another splendid use case of AI in racecars is the ameliorated safety brought about by assessing massive datasets of historical and real-time data. Driverless racing is another arena that is steadily being reared into existence by the upsurge of AI. Vehicle health diagnostics Advanced health monitoring platforms are leveraging the power of AI to deliver highly efficacious remote diagnostics. Digital Twins of drivetrain components are being used to generate predictive insights for use cases such as overheating, battery charging, and fuel-air charge composition. Furthermore, comprehensive reports on fuel efficiencypilferage, driving performance, routes-schedules, and performance of emissions control systems are made available with minimal manual intervention. Utilizing AI to predict possible malfunctions reduces downtime and curtails the risk of missioncritical breakdowns. This leads to elevated toplines and reduced costs incurred on maintenance and repairs. Enhancing manufacturing The future is demand-specific, and applying AI to Supply Chain Management and Manufacturing will ascertain smarter and swifter production methods. Designers and product developers can generate roadmaps using the abundant data on usage and preferences procured over time and construct models that will be

well-received. Robotic assembly lines can expedite cost-saving and productivity by damage and accident reduction. Boosting sales Apart from the technical advantages, AI can also positively impact the financial numbers by carrying out customer profiling. Modernistic automobile recommendation systems offer a seamless customer experience for purchase and auction. With the launch of numerous automobile recommendation platforms, the sales numbers achieved via digital customers in recent times are staggering. AI and ML have the potential to redefine every aspect of our life. In the case of the automobile industry, these technologies are proving invaluable in both mitigating and resolving several challenges, especially with regard to EV adoption and developing planet-friendly automotive technologies. The universe of AI and ML is full of endless possibilities; an amalgam of these is an era of stupendous digital transformation.

The author is the Head of Analytics and Co-founder, Intangles Lab. He is an ardent researcher with a unique skill set comprising an exhaustive knowledge of powertrains, after-treatment systems, ADAS and extensive experience in data mining. Aman completed his Bachelors in Computer Engineering from Pune

| NEWS

MONDAY, FEBRAURY 21, 2022

AfDB approves LEAF program to promote investment in decentralized renewable energy

The Board of Directors of the African Development Bank Group on Wednesday approved the Leveraging Energy Access Finance Framework (LEAF), under which the Bank will commit up to $164 million to promote decentralized renewable energy in six African countries. The $800 million program will help spur commercial and local currency investments to scale up the activities of decentralized renewable energy companies in Ghana, Guinea, Ethiopia, Kenya, Nigeria, and Tunisia.

Under LEAF, some 18 decentralized renewable energy projects are expected to be financed, providing access to six million people and businesses, resulting in 28.8 million tonnes CO2 eq. in greenhouse gas emission reductions over the lifetime of the systems. Many African countries still face challenges in achieving universal access to sustainable, clean, affordable and reliable electricity. According to the latest Sustainable Development Goal (SDG) 7 tracking report, close to

600 million Africans lack access to electricity. As a result of the Covid-19 crisis, the number of people without access to electricity increased again for the first time in recent years. Scaling up decentralized renewable energy (solar home systems, green mini-grids, and solar solutions for commercial and industrial use) is crucial to achieving the SDG7 objectives and requires significant private sector and local currency financing. The African Development Bank developed the LEAF program, in collaboration with the Green Climate Fund, which approved $170.9 million in concessional financing for it in July 2021. The framework forms part of the Bank’s broader off-grid strategy under the New Deal on Energy for Africa and complements existing initiatives, such as the Sustainable Energy Fund for Africa. The Bank’s Vice President in charge of Power, Energy, Climate Change and Green Growth, Dr. Kevin Kariuki, remarked: “The African Development Bank

is delighted to partner with the Green Climate Fund on the Leveraging Energy Access Finance Framework, which will not only accelerate access to electricity based on decentralized renewable energy solutions, hence reducing the respective countries’ carbon footprints, but will do so with the active participation of a private sector facilitated by local currency financing and commercial capital availed under the program.” Over six years, LEAF will deploy concessional finance, credit enhancement instruments and technical assistance to crowdin private sector investors, including local banks, to finance and accelerate efforts to power the continent. The Bank’s Acting Director in charge of Renewable Energy and Energy Efficiency Department, Dr. Daniel Schroth, added: “The approval of this program is very timely as it increases the Bank’s toolbox to support the fast-moving decentralized energy access market which complements conventional gridconnected solutions.”

Measures are in place to ensure safe air travel despite Meteorological Agency’s strike – GCAA The Ghana Civil Aviation Authority (GCAA) has assured the general public that air travel is safe and secure despite the strike action embarked on by the Ghana Meteorological Agency (GMet). According to the Authority, they have put in place contingency measures to ensure that flight operations are not affected by the strike. In a press release, dated Saturday, February 19, they noted that, “the Authority has put in place adequate measures to contain the situation for the entire duration of the strike, as well as ensure that flights coming into the country and those flying within the Accra Flight Information Region (FIR), receive the required weather information needed for smooth operation.” This comes after the staff of the Agency embarked on an indefinite nationwide strike on Friday.

According to the staff, the sit-down action is due to the government’s failure to respond to their resolution presented to the Communication and Digitalisation Ministry on January 5, which enumerated their poor conditions of service. The acting Director of Forecasting and Synoptic Meteorology, Joseph Tetteh Portuphy, highlighted some implications of the strike. Speaking in an interview, he said airlines cannot fly into the country due to the strike. However, the Ghana Civil Aviation Authority has noted that the aviation industry in Ghana is robust enough to deal with these issues while the strike continues. “GCAA would like to assure the public that Aviation Safety and Security remain a foremost priority, and that it would do all it takes to safeguard the confidence and trust that the public has reposed in the Authority,” it said.

MONDAY, FEBRAURY 21, 2022

| F E AT U R E

How to make the pandemic history

ith 124 million new COVID-19 cases worldwide since the start of 2022, and with the COVID-19 virus spreading, mutating, and stalking even the fully vaccinated, the world faces a grim truth: everyone will live in fear until no one lives in fear. That is why world leaders must resolve that 2022 will be the year when we finally bring the pandemic under control. Three upcoming meetings present immediate opportunities to agree on the essential funding necessary to stop the pandemic and avert future ones: the G20 finance ministers’ summit this month, the United Nations High-Level meeting on universal vaccination immediately thereafter, and the reconvening of US President Joe Biden’s global vaccine summit in March. World leaders will not be starting from scratch. The international COVAX facility has delivered more than 1.1 billion vaccine doses, primarily to the poorest countries, and the Access to COVID-19 Tools Accelerator (ACT-A) has provided more diagnostics, therapeutics, and treatments. Still, more than 12 months after the first vaccinations, and with enough vaccine doses (more than 12 billion) now manufactured to immunize the entire world, only one in a hundred (and one in two hundred tests) have gone to low-income countries. Low-income countries’ pitifully low share of fully vaccinated people – just 5% (and 11% in Africa) contrasts starkly with

the 72% rate in high-income countries. This gap suggests that we value human life in the Global South far less than in the richer North. This is not just a medical or logistical failure; it is a moral one. To erase this stain on our collective soul, we urgently need to raise $16.8 billion in grant financing for ACT-A, the coordinating partnership for expanding access to vaccines, diagnostics, and therapeutics. That is how we will reach the global targets of vaccinating 70% of each country’s population by mid-2022, procuring treatments for 120 million patients, ensuring at least one test per thousand people per day, and protecting 2.7 million health workers with personal protective equipment. Of the funding that ACT-A needs this year, only around $800 million has been raised so far. Some $16 billion more must be found in the early months of 2022. While some of the funding is for research and development and for reserves of global supplies, $7.2 billion will be directed to serve the needs of African Union members for vaccines and other medical provisions. Sixteen billion dollars sounds like a huge request. But the bill is more than 300 times smaller than the $5.3 trillion that the International Monetary Fund estimates will be lost by 2025 if we fail to vaccinate everyone. Indeed, that $16 billion breaks down to an average of just $0.10 per week for each citizen

of the 55 countries to whom the ACT-A co-chairs, Norway and South Africa, have appealed for funds. We also urgently need a longterm financial commitment to prepare for and prevent future pandemics, as recommended in reports by the Independent Panel for Pandemic Preparedness and Response, co-chaired by Helen Clark and Ellen Johnson Sirleaf; the G20 High-Level Panel, co-chaired by Tharman Shanmugaratnam, Lawrence H. Summers, and Ngozi OkonjoIweala; and the WHO PanEuropean Commission on Health and Sustainable Development, chaired by Mario Monti. The recommendations contained in these reports must be implemented now, because we cannot afford to wait until the next pandemic. Estimated to cost around $15 billion per year – with $10 billion per year for infrastructure – these investments would surely be the best insurance policy the world could ever have. Moreover, the WHO and other global health organizations cannot do all the work that is needed if they continue to be funded on an ad hoc voluntary basis. This arrangement seems more suited to an annual charity fundraiser than to the serious and sustained task of underwriting the provision of the purest of public goods: health and the control of infectious disease. There are three available sources of sustainable long-term finance, all of which could be agreed at

Biden’s COVID-19 summit next month. First, countries should agree on an equitable burden-sharing formula, following the model of how we fund the United Nations’ core and peacekeeping budgets and the IMF and the World Bank. To their credit, the ACT-A chairs have proposed a formula designed to inform decision-making on appropriate and necessary levels of voluntary grant contributions by the 55 countries asked to contribute, and we urge support for this initiative. The United States and the European Union (together with the United Kingdom) would each contribute around 25% of the total, with the rest of the world contributing smaller amounts based on their ability to pay. Second, the IMF, the World Bank, and the regional development banks should immediately offer additional health financing for 2022. The World Bank and the regional development banks have an enhanced role to play in local capacity-building; and a new IMF vaccine facility should be extended to pay for the administration of doses. Those countries that have agreed to share $100 billion of their allocations of IMF special drawing rights (the Fund’s reserve asset) should immediately provide low-income countries with the liquidity to upgrade their healthcare systems. Finally, we need to be more innovative in sourcing these funds. For example, by leveraging $2 billion in guarantees by richer countries, we can create an international health-financing facility that – together with $1.5 billion in grants – would raise an additional $10 billion for global health, particularly for poorer countries. And we should explore options such as expanding the range of the solidarity levy, which has directed $1.25 billion from airline taxes to health since 2005. There also should be greater engagement with the corporate sector – which stands to benefit from the full resumption of economic activity – and especially with pharmaceutical companies, which have now admitted that they have not done enough for poor countries. Finally, additional financial support from foundations should be sought. Only through such solidarity can we make the COVID-19 pandemic history. That can – and therefore must – happen this year.

MONDAY, FEBRAURY 21, 2022

| AGRIBUSINESS

Broadening forestry education to tackle the climate crisis

wenty-year-old, Rahma (Dhina) Maulidhina has been fascinated by forests, particularly in her home country of Indonesia, ever since she was young. Dhina works as a commissioner for RECOFTC, an international organization focused on training and research on community forestry in Southeast Asia. She is also studying Forest Resource Conservation and Ecotourism at Bogor Agricultural University. Like many students worldwide, she found that the COVID-19 pandemic had an impact on her studies. As one key example, field activities, an important part of the forestry curriculum, were cancelled. With no official field trips, no animal observation and limited opportunities to visit protected areas, she found herself in a difficult position. However, in 2021, after Dhina became president of the local committee of the International Forestry Student Association, she became involved in an international network of students where she learned about the opportunity to join a threeweek online course on “Forests and Transparency under the Paris Agreement” organized by FAO. The initiative is part of FAO’s work to strengthen the capacity of developing countries to collect, analyse and disseminate forest-related data to meet the transparency requirements of the Paris Agreement, which requires that all Parties report on their carbon emissions and removals. As part of the ambitious goal of keeping the global rise in temperature under 2° Celsius above pre-industrial levels, countries need to report on their progress towards their climate mitigation and adaptation targets. Strengthening national forest monitoring systems helps produce the necessary data, information and transparency on forest-related emissions, hence supporting countries’ efforts under the Paris Agreement. Dhina was attracted by the interesting topics of the online course and by the fact that it was open to everyone for free. Moreover, her university classes do not tackle many of the subjects covered

in the course. “The course really helped me broaden my knowledge regarding worldwide issues.” Through the online session, she learned more about the efforts made by Indonesia to monitor national forests in the context of climate change. She was very proud to see the name of her country mentioned several times in the educational materials. Sustainable forest management in Indonesia Immense and rich in biodiversity, the Indonesian rainforest is considered one of the more important of Earth’s forests. With over 92 million hectares of forest in 2020, Indonesia comes in eighth in terms of countries with the largest area of forests globally. On the other hand, it ranked third in terms of a country’s average annual net loss of forest area from 2010 to 2020, according to FAO’s Global Forest Resources Assessment 2020, a comprehensive evaluation of the world’s forests based on official national statistics. Indonesia has improved its capacity in forest monitoring and is strengthening its national forest monitoring system to

ensure high-integrity forest data. Dhina recognizes that significant changes are occurring in the forestry sector in her country. Yet, better regulation and policies to conserve and sustainably manage forests are needed. While hunger and lack of alternatives to earn a living can limit forest communities’ options, Dhina emphasizes that while “unsustainable forest practices can be profitable in the short-term, they eventually result in scarce resources and hence worsen the situation”. She believes that solutions also lie in communities’ existing local knowledge, as they have been living side by side with the forest for a long time. Their practices have been built over a long period and made suitable to their environment. “What we can do is to assist them to adapt and preserve this local wisdom because the world is changing in different ways.” Being a young woman in this field, Dhina also highlights the importance of improving gender equality among forestry professionals. With mentalities changing and technological advances in data collection, Dhina feels that women’s participation will improve in this sector

traditionally dominated by men. Global learning on forests and transparency In collaboration with the United Nations Framework Convention on Climate Change, the online course was organized under FAO’s project Building Global Capacity to Increase Transparency in the Forest sector, funded by the Global Environment Facility (GEF). Originally intended for professionals and officers working within the forest, land use and climate change sectors, the course and all the course materials are now publicly available on the FAO eLearning Academy website. Dhina believes that everything connects to forestry. This course was another step in her goal of conserving the valuable forest resources and the services they provide in her home country.

| NEWS

MONDAY, FEBRAURY 21, 2022

Address Pan-African Parliament challenges -Speaker urges stakeholders The Speaker, Alban S.K Bagbin has called on stakeholders in Africa to confront the challenges that have afflicted the PanAfrican Parliament to enable the continental legislative body to resume meetings. He said the continent’s resolve to strengthen diplomacy at the parliamentary level among its member states can only be meaningful if urgent steps are taken to resume the operations of the Pan-African Parliament. “We have gone beyond the traditional function of parliament to using parliament as an effective tool for parliamentary diplomacy” Rt. Hon. Bagbin noted. The Pan-African Parliament (PAP) suspended its sittings after witnessing scuffles between some lawmakers over the election of new office bearers. The suspension follows disagreements and disruptions that transpired during the procession of the plenary last year. The Speaker made the call in parliament today during a courtesy call on him by the Egyptian Ambassador to Ghana Aldesouky Mahmoud Youssef. Ambassador Youssef had called on Speaker Bagbin to announce his country’s readiness to build a Ghana-Egypt Parliamentary Friendships Association and

also discuss strategies to deepen relations between both countries. The Speaker used the occasion to recount the longstanding ties Ghana had built with Egypt, and reiterated his commitment to enhancing the bonds of friendship and cooperation for mutually

beneficial outcomes for all. The Egyptian Ambassador, commended Speaker Bagbin for the quality of leadership he is providing Ghana’s hung parliament and assured him of his country’s continued commitment to the Pan-African Egypt Policy.

He was hopeful that his time in Ghana would witness the strengthening of relations between his country and Ghana on the political, economic, commercial, educational, cultural, and healthcare fronts.

3 Days Training Workshop Theme: Contemporary Stores and Inventory Management Company ProSupp Consult is a multidisciplinary professional service group drawn from diverse top quartile multinational and public firms providing dynamic procurement and supply chain management services and trainings. Course Overview It has become imperative to focus on Strategic Stores and Inventory because most organisations are struggling with dwindling working capital and cashflows for effective operations; but still have high investments and cash locked-up in goods, spare parts, items, MROs, stationeries etc. The strategic application of Stores and Inventory helps to contribute to the efficient and effective utilisation of public and private financial resources; which significantly improves the competitive advantage of companies, financial and sustainable business objectives and an increased Return On Investment (ROI). Again, Public Sector Stores and Inventory Practitioners feel marginalised, but this course will let them appreciate how they can contribute strategically to the reduction of government’s expenditure. This module is designed to put the public and private sectors’ Stores and Inventory systems in context. It will be based on an experiential learning; applying theory in a practical way to foster good practice and application. The Facilitator The Facilitator is an Award Winning Procurement and Supply Chain Management Professional with over twenty years practice in both local and international organisations in various industries including Financial Institutions, United Nations, Construction, Embassies and Manufacturing. Serves on Entity Tender Committees for a number of Public and Private Organizations. An Adjunct Lecturer, Board Member, Independent Consultant and the Current President, Ghana Institute of Procurement and Supply. Collins Agyemang Sarpong MGIPS, MCIPS, MBA, CIPP

COURSE OUTLINE • Inventory Control (Stock Controls) Definitions, Systems and Management • Best Practices for conducting an inventory counts • Stakeholder Management and Engagement for efficient operations • Economics of Stores and Inventory (Order Levels and EOQs) • Strategic Stores and Inventory (Cashflow and Working Capital Impact ) • Codification and Digitization for efficient operations • Different Inventory Modules, Methods and Techniques • Stores Space optimization • Practically undertake disposal of unserviceable items as per Act 663 • Heath, Security and Safety in the stores (OSHA Regulations) • Lowering carrying cost strategies • Case Studies • Development of 90 days Actions Plans Who should attend? Public and private sector Stores and Inventory Managers, Supply Officers, Procurement Managers, Logistics Managers, Internal Auditors, Finance Managers, Entity Tender Committee Members and all responsible for overseeing Stores and Inventory operations in their organisations.

Date:

23rd - 25th February 2022

Theme: Fee:

Contemporary Stores and Inventory Management

GHC 2,000 per participant (Inclusive of Course Materials, Certificates, Lunch and Coffee/Tea breaks)

Venue:

Coconut Groove Hotel, 5th Mozambique Link, Accra

REGISTRATION Please make the necessary payment into the following account details;

Account name: ProSupp Consult, Account Number: 1114682 Bank: ABSA Bank, Branch: Osu. Please contact the ProSupp office on 0302733425 / 0546896814 for any assistance and clarifications and also please alert the office when you have made payment.

MONDAY, FEBRAURY 21, 2022

| GLOBAL NEWS

Webster University offers students and faculty global mobility Well known for its unmatched study abroad opportunity offered to students, Webster University Ghana Campus located in East Legon, has resumed sending students to other campuses within their international network after a two year-long COVID disruption. With a presence in the USA, the Netherlands, Switzerland, Austria, China, Greece, Uzbekistan and Georgia, undergraduate students are able to travel for study for up to a year, after their freshman year in Accra. Since its opening in Accra in 2013 and the launch of the Study Abroad program in 2015, Webster University Ghana which is accredited in the USA by the Higher Learning Commission and by Ghana’s Tertiary Education Commission (formerly National Accreditation Board), has sent about 30% of students abroad for a semester or year. This opportunity includes a free roundtrip flight from the school in a bid to back the university’s mission of providing high-quality learning experiences that transform students for global citizenship and individual excellence. Students enrolled at the Ghana campus who study abroad continue to pay the local fee which is one of the lowest amongst all of Webster’s campuses. Webster Ghana students can also elect to transfer permanently and continue their studies at the main campus in the US or the others in Europe or Asia.

“I wanted to study abroad to gain life experience and exposure to different cultures and perspectives,” says alum Nana Mark Hansen, Class of 2020, who applied and spent one semester during the second year of his Bachelor’s degree at the US campus and another semester of his senior year at the Leiden campus in the Netherlands. Hansen who was a Media Studies major, and now works in advertising, elaborates that his study abroad experience with Webster University has had a great impact on his career already. Graduate students at Webster Ghana pursing any of their three Master’s degree options – the Master of Business Administration (MBA), Master of Arts in International Relations (MAIR) or the new Master

of Arts in HR Management, also have the opportunity to study abroad for a semester though as many are working professionals, this can be a challenge. Master’s degree students, however, tend to be more focused on the advantage of attaining a quality American degree within just about 16 months and the interactive American-style of education as well as Webster’s personalized approach to learning. “It’s amazing to have renowned professors from across the continent for some classes, and faculty from the US, and other Webster campuses for other courses. Learning under the tutelage of international faculty with industry experience is a strong example of the Webster Ghana difference,” says alumnus

Obed Solomon who graduated from Webster with a dual Master’s degree in Business Administration and International Relations in 2021. Just as students are able to move around within the Webster network of campuses, lecturers also have this opportunity allowing Webster Ghana students to benefit which helps foster cross-cultural dialogue and understanding, needed skills sought by multinational corporations. W e b s t e r University’sgraduate classes have been tailored to fit the corporate professional’s schedule with top-notch hybrid education systems allowing students to earn an American degree from the classroom and comfort of their home, during this COVID era of social distancing. Master’s classes are held just a few times a week in the evenings after work hours. Dr. Eric Rhiney, Chair of the Management Department of Webster University’s Walker School of Business & Technology, a native of St. Louis, Missouri where Webster’s home campus is located, has taught at the Ghana campus three times over the years. “I love the Ghana campus and being able to work with students in Accra! I have taught students from Nigeria, Cameroon, Togo and South Africa and continue to learn a great deal from them and about business in emerging markets on the continent,” says Rhiney.

STRATCOMM Africa wins PR excellence awards STRATCOMM Africa wins PR excellence awards Strategic Communications Africa LTD. (Stratcomm Africa), Ghana’s premier full service communication agency, won two awards at the Annual Public Relations Excellence Awards held at Dodi place in Akosombo on Friday 21st January 2022. The multiple award winning agency was this time recognised as excelling in respect of communication content in its campaign delivery (Best content) and also for communication for nonprofit purposes (Best in Nonprofit communication). The citations accompanying the two awards said, Stratcomm Africa “Provided regular, relatable and relevant content, packaged in engaging and easy to consume ways to key stakeholders.” In respect of the award for best in nonprofit communication, which was in respect of communication about Covid -19, the citation said,

“Stratcomm Africa planned and executed an effective relationship, strengthening communication with a PR strategy, which yielded demonstrable results.” The Public Relations Excellence Awards, the flagship recognition activity of the Institute of Public Relations, Ghana, awards members for excellence in various aspects of public relations/communications delivery. Mawuko Afadzinu, President of IPR Ghana says, “Our Institute promotes excellence through constant learning and relearning

and we honour and reward excellence as this contributes to the growth of our profession.” Esther A.N Cobbah, Founder of Stratcomm Africa said, “Excellent content is critical for impactful communication and that is the trademark of Stratcomm Africa. We at Stratcomm Africa, also deploy the excellence in communication for non-profit purposes to benefit society, not just for commercial purposes. We are therefore delighted to receive this year, the awards for Best content and Best in Nonprofit communication.”

Stratcomm Africa turns TwentyEight years this year. In this period, it has continued to provide professional support to individuals and organisations, public and private, local and international, in numerous industries including agriculture, aviation, finance, mining, oil and gas, telecommunications, manufacturing and fast moving consumer goods. Development related programming - health, gender, Water, Sanitation and Hygiene (WASH), child and youth development issues etc. have also been among the areas that have been addressed effectively by Stratcomm Africa. Stratcomm Africa’s professional excellence has been consistently recognised by the Institute of Public Relations, Ghana, in different award categories, including Outstanding PR Agency of the year. Stratcomm Africa also continues to be recognized internationally.

| MARKET FORECAST

MONDAY, FEBRAURY 21, 2022

Weekly Market Forecast (21th -25th Feb, 2022) FUNDAMENTAL ANALYSIS- WILL THE RISING DOLLAR RISE END NOW? he U.S. dollar edged lower Friday, with risk sentiment boosted by the news that the U.S. and Russia were set to discuss the Ukraine crisis next week, raising hopes for a diplomatic solution. The Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 95.740. Russian Foreign Minister Sergei Lavrov agreed to

meet U.S. Secretary of State Antony Blinken for talks in Europe next week, the State Department said Thursday night. The dollar, along with other safe-haven currencies the yen and the Swiss franc, have gained this week amid high tension on the Ukrainian border, with U.S. President Joe Biden warning on Thursday that the probability of an invasion of Ukraine is still “very

high.” News that the two principal players are set to meet next week has been greeted with a degree of optimism, although the situation remains very tense, especially after both Ukrainian government forces and Moscow-backed rebels accused each other of breaking cease-fire rules on Thursday.

TECHNICAL ANALYSIS BITCOIN(BTC/USD) LONG TERM BUY Bitcoin is expected to retest the demand zone order block and buy for a long term after the completion of the running flat correction. Sell Retest to demand zone is expected for short term then a big buy to around to 60,000 usd

GOLD(XAU/USD) BUY TO 1950.972 The yellow metal is expected to rally to 1950.972 to complete a crab pattern. Market is expected to fall after that level is reached for discounted pricing

GBPNZD(POUND-NEW ZEALAND DOLLAR) RALLY GBPNZD is set to rally to wave 5 to complete the impulse wave cycle. BUY at current market price

MONDAY, FEBRAURY 21, 2022

| MARKET FORECAST

USDNOK(DOLLAR-NORWEGIAN KRONE) USDNOK is expected to rally to complete the crab pattern at 161.8 fib extension @9.53587

USDCAD(DOLLAR-CANADIAN DOLLAR) BUY The loonie is expected to go bullish to complete the Bat Pattern at 0.886 fib retracement level@ 1.53746

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B U S I N E S S 24 .C O M .G H

MONDAY, FEBRAURY 14, 2022

NO. B24 / 306 | NEWS FOR BUSINESS LEADERS

WEDNESDAY, FEBRUARY 16.2022

NEWS

Trust key for higher tax revenues in developing countries In many developing countries, tax revenues remain far below levels needed to provide citizens with basic services or fund extra spending to minimize the impact of COVID-19. But as governments look for ways to strengthen tax collection systems, they must take a holistic approach to tax reform that includes building citizens’ trust, says a new World Bank report. Innovations in Tax Compliance: Building Trust, Navigating Politics, and Tailoring Reforms outlines a novel, integrated framework for improving tax systems based on three core pillars: enforcement, facilitation, and trust. According to the report, when implemented alongside reforms to boost enforcement and improve facilitation, strategies to increase trust between taxpayers and tax administrations can lead to higher rates of compliance and build a foundation of public support for more effective taxation. “The report offers feasible, clearcut paths to putting trust building into practice,” said Edward Olowo-

Okere, Director of the World Bank’s Governance Global Practice. “With detailed information on successful initiatives, it urges reformers to focus on how to more effectively tailor strategies to local contexts and constraints. In Freetown, Sierra Leone, for example, successful property tax reform followed significant public education programs and new forums for engagement between taxpayers and the city.” “Discussions about how to raise extra resources are especially relevant now that governments across the world are having to substantially increase public expenditure to protect people and economies from the damage wrought by the pandemic,” said Marcello M. Estevão, the Bank’s Global Director for Macroeconomics, Trade and Investment. “Fiscal pressures are growing because of record-high levels of debt in lower- and middleincome countries and because of the need to transition to a green economy.” Tax reforms have leaned

heavily toward strengthening tax enforcement and facilitating compliance, with sanctions for citizens and corporations that avoid paying their obligations and mechanisms that make it as easy as possible for taxpayers to find out what they owe and make payments. Despite important successes, these efforts have not been sufficient to consistently deliver more effective, equitable, and accountable tax systems. In fact, taxation of the wealthy remains highly ineffective in many countries. Weak taxation in many places

appears rooted in political resistance to more effective taxation, low trust and compliance, and the difficulties posed by wealth held offshore. Recent research has shown that a lack of trust in the state’s role as both tax collector and service provider remains an important deterrent for many would-be taxpayers to enter the formal economy or pay their full taxes – and undermines broader political support for reform efforts. The report was supported by the Bill & Melinda Gates Foundation and the World Bank’s Global Tax Program.

Newmont Hands PCR Laboratories worth GH¢ 2M to Ghana Health Service Infectious diseases affect millions of people across sub-Saharan Africa and are major causes of morbidity and mortality. In Ghana, aside their devastating impact on individuals, families and communities, infectious diseases have socio-economic impact in terms of healthcare costs and lost productivity. Regrettably, the COVID-19 pandemic further strained our health systems, disrupted business and supply chain processes, impacted incomes and families with over 1,404 and 5.71M lives lost in Ghana and globally respectively. To help mitigate these challenges and rebuild resilient lives and communities, Newmont, in 2020, set up its $20 million Global Covid-19 Fund to address the needs of host communities, government and health institutions. The Fund has supported various interventions to reduce the spread of the infection and related mortalities. With the world grappling with the fourth wave of the Covid-19 pandemic, Newmont Ghana

in keeping with the purpose of creating value and improving lives, has handed over two PCR laboratories, worth GH¢2 million, to the Ghana Health Service as part of the company’s contribution to the national Covid-19 management efforts and for the testing of other infectious diseases. The laboratories, established through intergovernmental collaboration with the Ghana Health Service, Kumasi Centre for Collaborative Research in Tropical Medicine (KCCR) and the Regional and District Directors of Health Services, are situated in the Kenyasi Health Centre of the Asutifi North District and the New Abirem Government Hospital in the Birim North District of the Ahafo and Eastern regions, respectively. The PCR labs are expected to directly serve the residents of the two districts with a population of over 150,000 (GSS 2021) as well as adjoining districts, reducing the over-reliance on the main testing centres for infectious diseases in the country. The labs will ensure

increased and quicker testing for COVID-19, helping in the fight against the COVID-19 pandemic, while also supporting the detection of other infectious diseases such as meningitis, hepatitis, yellow fever and malaria. At a brief virtual ceremony to hand over the PCR labs, the DirectorGeneral of the Ghana Health Service Dr. Patrick Kuma-Aboagye, acknowledged the value of the collaboration between Newmont and the partners, describing it as “phenomenal and significant to the efforts against infectious diseases.” He thanked Newmont for their considerable support adding that “since the advent of COVID-19, we have learnt how to work together effectively with the private sector. We hope that this continues so that we can all build a robust national healthcare delivery system.” Newmont Africa’s Vice President, Sustainability and External Relations, Ms. Adiki O. Ayitevie, commended the partners who collaborated with Newmont to complete the project. She

recognised the commitment of Newmont in making the initiative a reality. “It is an honour to support the national effort against the pandemic with the setting up of the PCR labs. This is a milestone in healthcare delivery for the two districts and Newmont is certain that this will bring a great deal of relief to residents in our communities as well as the major testing centres in the country,” she stated. Recounting the journey, the Scientific Director of KCCR, Prof. Richard Phillips, acknowledged Newmont Ghana’s generosity, the technical expertise of KCCR’s local researchers and the administrative acumen of the GHS (through the regional and district health directorates). He indicated that the successful completion of the PCR laboratories and training of the laboratory personnel was a testament to the power of collaboration. He was optimistic that the laboratories will serve a greater purpose beyond the pandemic.

Published by Business24 Ltd. Nii Asoyii Street, Mempeasem. East Legon-Accra, Ghana. Tel: 030 296 5297 | 030 296 5315. Editor: Benson Afful editor@business24.com.gh. +233 545 516 133.