Business24 Newspaper 18 March 2022

NEWS FOR BUSINESS LEADERS

BUSINESS24.COM.GH | FRIDAY, MARCH 18, 2022

Russia-Ukraine war not good for trade—Dr. Mbiah

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aritime Law Consultant and Legal Practitioner, Dr. Emmanuel Kofi Mbiah, has spelled doom for the global supply chain if the RussiaUkraine war lingers on for a long time.

According to him, the repercussions of the war on shipping is already being felt.

The maritime lawyer said: “The war does not look good for trade.

The little we are seeing in the stifling of global supply chains is only the beginning. Look at the price of oil example.

All of a sudden, we have gone to $139 a barrel. The impact is significant. It has affected almost every sphere of life. If you take energy, Europe relies on Russia for about 40% of its gas supplies.

Obviously, this is bound to have a telling effect on their economies.”

Dr. Mbiah said not only will oil and gas supplies be severely affected, but food supplies would suffer due to the Russia-Ukraine area providing a large chunk of the

world’s grain requirements.

The maritime expert said the trickledown effect of disruptions caused by the war is inevitable, and African countries won’t be spared.

Dr. Mbiah a former Chairman of the Legal Committee at the International Maritime Organisation (IMO), explained that “a lot of the countries in the world are not well-to-do and are coming out of COVID 19.

The GCB Bank has said that its nonperforming loans (NPL) ratio could fall to 3.14 per cent in December 2021 when two significant loans that were impaired by the COVID-19 pandemic have been discounted.

The bank also said that its exposure to treasury securities was not unique but a reflection of the situation facing the entire financial sector.

The lead bank by asset size added that the decision to invest about 50 per cent of its assets in government securities, made up of treasury bills (T-bills) and bonds, was influenced by the macroeconomic environment and the characteristics of its funding sources.

In response to enquiries by the Graphic Business on the bank’s downgrade by Moody’s Investor Services, GCB Bank emphasised that the development did not mean that the bank was prioritising risk-free investments over its core mandate of lending to support national development.

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Future Looks Bright for Tech in Africa Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced its audited results for the full year ended December 31, 2021, reporting impressive performance in key financial metrics.

The 2021 financial result filed by the bank at the Nigerian Stock Exchange (NSE) on March 4, 2022, showed that gross earnings rose significantly to $1.6 billion representing an increase of 7

per cent compared to $1.5 billion recorded at the end of the 2020 financial year.

Total assets grew by 11 per cent to an unprecedented $20.1 billion in the year under review, up from $18.1 billion in 2020, thus marking the first time the Bank’s assets will cross the N8 trillion mark.

Despite the huge challenging business and slow economic recovery in most of its countries of

GCB Bank fights off downgrade by Moody’s

FDA, partners call for sustainable food packaging to drive MSMEs

BY EUGENE DAVIS

The Food and Drugs Authority (FDA) in collaboration with ePac-Ghana, Ghana Standards Authority, and Ecobank have organized a two (2) day workshop on flexible food packaging for Micro, Small and Medium Enterprises in Accra.

The training which took place on

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| EDITORIAL/NEWS

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Wash your hands 2

Cover your cough 3

If you are sick, wear mask

FRIDAY MARCH 16, 2022

Big boost for transit business with new truck park

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he Ghana Ports and Harbours Authority has reconstructed a truck park for the haulage and transit business at Paga.

The facility which sits on a 30,165 square-meter area boasts facilities such as fire hydrants, light mast base and cable ducts for the future installation of light masts, sanitary facilities including washrooms, an ablution area, and prayer shed, for the convenience and use of the truck drivers and other visitors to the truck park.

There is also the installation of razor wire rolls on the truck park fence wall for enhanced security and drainage improvement at the entrance of the truck park.

According to government, this project reiterates its quest to be on the look-out for prospects and opportunities that will inure to the benefit of maritime trade and logistics stakeholders.

It is an indication that was very passionate about the facilitation of international trade because it comes with a lot of benefits and leverage to the country and sub region as a whole.

A steady growth in transit cargo through our ports positions the

country as a leading corridor for the transit trade business.

Investments into maritime infrastructure are very necessary for trade facilitation in terms of providing the right levels of convenience and low-cost activities to industry players, in this case the haulage and logistics sub-sector.

We commend the ministry of transport and the state’s ports operator for embarking on this portentous project which will amongst other, offer relief to truckers and help reduce the rampant carnage on our roads.

Russia-Ukraine war not good for trade— Dr. Mbiah

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Just at the time they are coming out of COVID, and trying to get the supply chains working again, this war has come.”

He added that, “Russia and Ukraine supply 30% of the world’s wheat requirements.

Ukraine is about the world’s 4th largest exporter of corn and about the 5th largest exporter of wheat. So, it is quite clear that when it comes to grains, they are very valuable.

The two countries do almost 70% of the world’s sunflower seed used for

cooking oils for example.”

Dr. Mbiah said, “you would think you are far away so the impact is not on you, but you would realize the imports especially processed foods is going to be expensive. Fuel prices have gone up, bunkers have increased prices and freight rates will go through the roof.”

He revealed that currently, the Black Sea-Azov area has become an unsafe route, trapping 140 merchant ships.

He also disclosed that some commercial vessels have ended up as collateral damage with them being victims of missile strikes.

Dr. Kofi Mbiah revealed that in the meantime, the International Maritime Organization has put in place some measures to mitigate the effects of the war on seafarers.

The former Chief Executive of the Ghana Shippers’ Authority said, “the IMO Council met on the 10th of March to condemn the actions of Russia and considered a number of actions. They identified that seafarers had to be given the key player status to enable them to enjoy certain privileges and protection.

It has called for the opening blue safe zones for their passage in areas where sea mines could be. Also, IMO has called on IMO members to give support to Ukraine to exercise their port state and flag state controls.”

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| NEWS

FRIDAY MARCH 16, 2022

Future Looks Bright for Tech in Africa operations, UBA’s Profit Before Tax was impressive with a 20.3 per cent growth to $373.8 million, compared to $310.8 million at the end of the 2020 financial year; while Profit After Tax rose grew by 8.7 per cent to $289.9 million in 2021, compared to $266.6 million recorded the previous year.

Similarly, net loans grew by 7.7 per cent growth to $6.7 billion, whilst customer deposits rose by 12.2 per cent to $15.0 billion, compared to $13.4 billion in the corresponding period of 2020, reflecting increased customer confidence, enhanced customer experience, successes from the ongoing business transformation programme and the deepening of its retail banking franchise In the year under consideration, the bank’s operating income rose by 10% to $1.1 billion compared to $984.3 million in the prior year, whereas operating expenses closed the period at $681.4 million.

In its usual tradition of rewarding shareholders, the Bank proposed a final dividend of $0.001922 for every ordinary share of $0.001201 for the financial year ended December 31, 2021. The final dividend which is subject to the affirmation of the shareholders at its Annual General Meeting will bring the total dividend for the year to $ 0.002403 as the

Bank had paid an interim dividend of 20kobo earlier in the year.

Commenting on the result, the Group Managing Director/ CEO, Kennedy Uzoka, said that notwithstanding the tight and challenging operating environment, UBA continues to deliver significant performance, He said, “The year 2021 can best be described as a year of global recovery; economies around the world began to witness early-stage recoveries, as supply chains recover from the devastating disruptions suffered in 2020.

Consequently, UBA recorded remarkable 7% growth in top line to USD1.56bn, and profit before tax (PBT) of $367,856.15 up 20.3% from the prior year.

Net Loans and advances grew by 7.7% to $6,727,610.81 with exposure mostly to resilient economic sectors including oil & gas, agriculture and manufacturing. Deposit from customers grew 12.2%, crossing the 14,416,308.88 mark, to $15,377,396.14.”

The GMD explained that the quality of UBA’s portfolio as well as the strength of the bank’s credit risk management frameworks and policies remain the bedrock of the positive results that the bank has been recording over the years, adding that

the current performance highlights UBA’s relentless customer focus, and leverage on its key strategic levers – People, Process and Technology.

“Looking forward, I am particularly excited about our ongoing Enterprise Transformation Program which is designed to enhance the bank’s process agility, service delivery and customer experience. We are also making sizeable investments in cutting-edge technology and cyber security, to keep our innovative digital banking offerings above the curve, as we tool and re-tool our human resources to compete and win in a rapidly changing and evolving landscape. This will ensure the bank continues to achieve respectable top and bottom-line growth through the medium to long term” the GMD stated.

UBA’s Group Chief Financial Official, Ugo Nwaghodoh, who corroborated the GMD’s comments, said, once again, the bank has shown resilience. It achieved sizeable growth and strengthened its balance sheet despite the slow pace of economic recovery that characterised the year 2021.

“Through active and diligent assets and liabilities management, the bank was able to protect its net interest margin and achieved a downward moderation of Cost of funds (CoF) by

70 basis points to 2.2% from 2.9% in the prior year.

According to him, the group’s capital adequacy ratio at 24.9% was well above the required regulatory minimum and reflects a strong capacity for business growth. “The Group’s non-performing loan ratio improved further to 3.6% from 4.7% at the end of 2020. This testifies to the quality of UBA’s loan portfolio even as the bank remains relentless in its resolve to drive down the Costto-Income ratio, which stood at 63.0% at the end of the year.”

Nwaghodoh added that the bank achieved further strides in growing its business and gaining market share across its pan-African operations, with the region accounting for 63.2% of the Group’s profitability, compared to 55.4% in 2020; Loans and advances as well as Deposit in the region were also up 14.5% and 27.3% respectively from a year earlier.

In his concluding remarks, the CFO stated “We recognise the changing competitive landscape and are proactively positioning to consistently deliver on our strategic objectives and commitment to shareholders.”

FDA, partners call for sustainable food packaging to drive MSMEs March 16 and 17, 2022 at the Ecobank Training Centre in Accra ultimately sought to introduce the latest international standards in food packaging and safety to the FDA and the GSA so that they are fully equipped to support local brand owners and the consumers.

According to the CEO of FDA, Mrs. Delese Darko, the goal of the engagement is clear as it is in line with FDA’s commitment to ensure safety and quality of regulated products. She added that the FDA is by this workshop contributing towards efficient standardization of products by local MSMEs to meet the standards of the Africa Continental Free Trade Area and beyond. She said that this capacity building workshop will therefore focus on the role of packaging in ensuring food safety and quality while addressing packaging gaps within the industry.

In executing its mandate to ensure public health and safety, the FDA aims not just to safeguard the health and well-being of people, but also to foster economic development and improve livelihoods by promoting

access to domestic, regional, and international markets.

She notedthat, ensuring an acceptable level of food quality and safety is necessary to achieve adequate protection for consumers and to facilitate trade.

She indicated that regulators know that food lasts longer and stays fresh longer when it is packaged well. That is, when food products are properly packaged, entrepreneurs and consumers receive value for money.

Mrs. Darko advised participants present on the need to note that, accessing the African continental free trade area as an SME requires high standards in packaging as a result of scientific advancements as it enhances competitiveness at the industry and enterprise level by exploiting opportunities for large scale production, continental market access, and better reallocation of resources and urged all to take this opportunity to create strong networks to support SMEs to grow.

On his part, the General Manager, of ePac- Ghana, Mr. Victor Sosah said Flexible packaging is increasingly

becoming popular with end-users engaged in the production of food, beverages, pharmaceuticals, personal care and cosmetics products due to its cost-effectiveness and its ability to increase product shelf-life.

Also, momentum is building in Africa to expand intra-continental trade of agricultural products through regulatory cooperation, to ensure food reaches consumers safely, and central to facilitating trade in safe foods, are the roles that both standards and regulations perform in shaping the practice.

Mr. Sosah mentioned that the limited availability of packaging solutions which meet both local and international market requirements present a challenge for the Made in Ghana products. This also limits producers’ ability to enhance product quality to meet the standards of the increasingly discerning consumer, which has resulted in an increase in imported products.

The MD of Ecobank, Daniel Sackey, bemoaned the inadequate data from the MSME sector as one of

the barriers preventing banks from supporting them, “we don’t have enough data on SMEs, to move forward we need to resolve that.”

The Director General of Ghana Standards Authority, Prof. Alex Dodoo, maintained that it is time to create a system for packaging because “that is what leads to our products being rejected and if we can help businesses do business differently and make money -won’t we be happy, so let’s change the narrative.” he added.

Dziffa Ametam, CEO of DOSK Foods indicated that flexible packaging remains key and urged entrepreneurs to embrace the packaging concept, since it will enable local products compete globally.

“FDA,Epac, GSA coming together to bring this solution is refreshing , you can only do so much if the product does not look good -we are in a generation of looks -everybody is on Instagram,tic tok, if it does not look good nobody will buy.”

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| MARITIME

FRIDAY MARCH 18, 2022

Transit players asked to re-strategize for single market

BY PATRICK PAINTSIL

With the bulk of cargo that are destined for landlocked nations to be moved by road, there is good prospect for stakeholders within the transit trade value chain and sector players will have to be strategically positioned to tap the enormous benefits, says Benonita Bismarck, Chief Executive Officer of the Ghana Shippers Authority (GSA).

“It is important to emphasize the crucial role of haulers and transport operators in achieving the lofty objectives of the single continental market with fresh opportunities for the industry in the carriage of goods to land-linked countries.

As key stakeholders, it will be prudent to initiate discussions on the existing potential and to strategically position yourselves to take advantage,” she said at a sensitization workshop for truck drivers in Tema.

According to the GSA boss, the expected surge in cargo that will be moved through Ghana’s ports

as a result of the AfCFTA will bring enormous opportunities to the transit trade industry.

But to achieve this, she implored state agencies and related parties to tackle the increasing rate of extortion and undue delays that are caused by uniformed personnel at various checkpoints along the nation’s transit routes.

The latest fact-finding trip undertaken by the GSA last month revealed some serious infractions to road traffic regulations, harassments and malpractices at axle load stations amongst others.

The trip encountered about 80 checkpoints on the Tema-Paga transit corridor alone, comprising 56 police and MTTD stops, 10 customs and for immigration checkpoints, seven axle load stations and three forestry barriers.

“What is even more disturbing are demands for illicit payments with associated delays by uniformed personnel at the checkpoints,” Ms. Bismarck added.

She said the authority will spare no effort in ensuring that truck drivers

and other transit stakeholders are regularly sensitised and fully equipped on the conventions and regulations relating to the business to make the country’s corridors safe and conducive for trade.

The shippers’ boss also hinted that the surging political insecurities within the sub-region are having dire impact on the security of trade along transit corridors.

GCB Bank fights off downgrade by Moody’s The comment followed a downgrade of GCB Bank’s deposit ratings and Baseline Credit Assessment (BCA) by Moody’s citing the bank’s “sizable holding of sovereign debt securities.”

In February this year, the ratings agency cut GCB Bank’s global longterm deposit ratings to Caa1 from B3 and lowered its BCA to Caa1 from B3 earlier.

It, however, revised the outlook on the bank’s long-term deposit ratings to stable, from negative, mirroring the stable outlook Moody’s assigned to the economy.

In a release announcing the decision, Moody’s said the GCB Bank’s downgrade followed the weakening of the Ghanaian government’s credit profile as announced in its February 4, ratings decision on the economy.

The ratings agency explained that GCB Bank was significantly exposed to the government, making its creditworthiness linked to that of the government.

Asset distribution As of September last year, more than half of GCB Bank’s total assets of GH¢17.17 billion were held in government securities.

Its third quarter results showed that the bank had GH¢9.48 billion in securities as of September 2021, up from GH¢7.65 billion in September 2020.

In spite of the cut, Moody’s said GCB Bank had demonstrated resilience in the face of the pandemic, underpinned by its strong capital buffers, with a total capital adequacy

ratio of 19.4 per cent as of September 2021.

It, however, noted that the bank’s NPL ratio deteriorated to 19.9 per cent as of September 2021, from 12.7 per cent in December 2020.

In its response, GCB Bank said the NPLs rose on account of two major project financed facilities that experienced delays and resulted in cost overruns.

“The projects had foreign engineers working with the promoters and as COVID-19 set in, the foreign engineers could not travel to Ghana because of the global ban on travel in 2020. The supply chain disruption to global trade did not help either. This delayed the project execution, resulting in cost overruns and rendering the initial cash flow projections unattainable,” it said.

It added that the bank took proactive steps to downgrade the facilities while it worked with the promoters to bring the projects back on stream.

It said the bank had fully provisioned for the facilities, which constituted more than 50 per cent of the NPLs. “Year end 2021, the NPL ratio was 15.98 per cent and when those in loss category are discounted, the rate was 3.14 per cent,” it said.

Commenting on Moody’s position on the bank’s exposure to treasury securities, GCB Bank said its lending strategy was based on the macroeconomic environment.

“The bank borrows short-term (demand up to one year fixed deposit) and largely lends medium to long-term, spanning one to seven years. These investments are held as

placeholders as we look for bankable projects to fund. Once bankable projects are identified, we unwind the investment securities position to provide the needed liquidity to fund the bankable projects and also meet the liquidity needs of deposit customers who choose to withdraw,” it said.

It noted that the board and management of GCB Bank were very much alive to the vision of the founders of the bank as the fulcrum around which indigenous Ghanaian businesses would be built and thrive.

“It is in pursuit of this mandate that the bank continues to partner government and private stakeholders across different sectors of the economy to provide financial support for the private sector to provide thrust to the engine of growth. Recall the One District, One Factory (1D1F) initiative by government where GCB Bank has been the major sponsoring bank of indigenous enterprises engaged in both green and brown field projects to industrialise the country.”

“We believe strongly that it is when the private sector, especially those with viable business propositions, is supported that the nation will experience growth and provide job openings for the teeming youth of our great country, who are jobless,” the bank said.

It added that the GCB was also a leading partner of the government in the YouStart initiative for small and micro enterprises.

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| T R AV E L & TO U R I S M

FRIDAY MARCH 16, 2022

Ahead of rainy season: Minister inspects dredging works in Korle Lagoon The Minister of Works and Housing, Mr. Francis Asenso Boakye, has undertaken an inspection tour of ongoing dredging works in the Korle Lagoon in Accra.

For the past years, Dredge Masters Limited (DML), a Ghanaian-owned leading provider of dredging services, has been carrying out dredging works in the lagoon in an effort to prevent flooding in Accra.

The tour which came off on Thursday, March 17, 2022, enabled the minister to assess the progress of work of dredging works in the lagoon. .Speaking to journalists, Mr. Asenso Boakye bemoaned the habitual dumping of refuse into drains, especially by squatters, describing their attitudes as “inimical” to nation building He said the government has invested so much into the construction of Integrated Recycling and Compost Plants (IRECOPs) across the country.

He said these state-of-the-art waste management facilities were being

constructed to help in the proper management of waste and also safeguard lives and properties.

However, he complained about the citizens’ laxity to support the government’s efforts, adding that “It’s as if we are moving in cycles with the gains always being eroded.”

According to Mr Asenso Boakye, the tour was necessary as it formed part of his ministry’s measures to prevent flooding this year and its attendant effects.

He lashed out at the abject disregard for a change of attitude to correct the age-long anomaly of indiscriminate dumping of refuse in the country.

“I am urging Ghanaians to be responsible and at no circumstance should anybody dump refuse into the drains. That attitude has a devastating effect on the Ghanaian economy,” the minister warned.

He reiterated his ministry’s resolve to liaise with the assemblies to arrest and prosecute any offender.

The Operations Manager of Dredge Masters Limited, Mr. Sena Kofi

Adeipena, gave a firm assurance that his company was working very hard to prevent a repeat of the June 3 disaster.

“We are positioning ourselves to prevent a repeat of the June 3 disaster by dredging the drains within the central business district (CBD) of Accra,” he assured.

He admitted that dredging works within the district were quite difficult considering attitudinal challenges amid migration, hence excessive squatting along the drains.

One such challenge, he said, was the lack of space for them to park their

dredging machines.

“All available spaces to enable us park our machines have been occupied by squatters, and this is making our operations very difficult,” he said.

He went on to add that the jostling for space by squatters along the lagoon also posed serious health risks.

Mr. Adiepena said the activities of the squatters contributed to the choking of the drains.

“Naturally, sediments occur in rivers, but human activities such as squatters along the drains also cause serious problems for the drains. This is because they are not bothered in dumping refuse into the drains,” he noted.

He, therefore, asked that the squatters be moved and a “central monitoring system” put in place with officials positioned for routine checks.

He also called for the creation of a buffer zone along the drains to protect them from negative human activities.

Lady Founders Forum to empower female entrepreneurs for global trade The maiden edition of Lady Founders Forum, held on Thursday, 10th March, in commemorating International Women’s Day 2022 has promised to support and equip female entrepreneurs to trade beyond the borders of Ghana.

Speaking at the virtual forum, Solomon Adjei, the Executive Director of Ghana Startup Network, organizers of the Forum stated that his outfit is poised to mobilize female founders, seek to understand their unique challenges and offer them strategic assistance via their local and global partners.

The Lady Founders Forum was held under the theme; breaking the bias to support female entrepreneurs for global trade, and Solomon said it is time stakeholders pay attention to the unique challenges women entrepreneurs face, and support them on that score, in order to scale up their businesses, in creating decent works for themselves and dependents.

On her part, the Marketing Head of Ghana Export Promotion Authority (GEPA); Mrs. Agnes Gifty Adjei-Sam congratulated the ladies for their resilience as job creators despite

the many societal vices and issues they face. She enlisted GEPA’s programs and commitment to

support their businesses to trade on continental markets, leveraging on the African Continental Free Trade

Area (AfCFTA), among others. Gifty affirmed her outfit’s commitment to partner institutions such as the Ghana Startup Network to run investor readiness programs among others to equip and connect them to global markets.

The Lead for Ghana Tech Lab’s Women in Tech program; Belinda Darkwa also admonished the lady founders to stay connected and active in their networking circles.

She asked the ladies to position themselves well in order to benefit from the many initiatives her outfit has to offer. She encouraged them to get proper documentation, including business registrations, business plans, strategic plans, pitch decks, among others which will give investors’ confidence in them.

Wrapping up, a rep from UNDP Ghana, Sylvia Senu congratulated the Ghana Startup Network for mobilizing the female entrepreneurs, and assured UNDP’s readiness to collaborate to run support programs for the ladies to shape their ability to compete globally

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FRIDAY MARCH 18, 2022

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| NEWS

FRIDAY MARCH 16, 2022

TANOE Womanrising empowers young girls in Prampram … as part of the girl empowered conference and skills training

TANOE, a social enterprise into the development of Entrepreneurship, through its women economic empowerment initiative dubbed Womanrising has organized the GirlEmpowered Conference and Skills Training as part of its effort to empower young girls between the ages of 12 and 17.

The purpose of this project is to bring together young girls from the junior high and secondary schools to receive capacity building and mentorship in career development, Entrepreneurship, Health and Financial Literacy.

In its 4th edition, the GirlEmpowered conference took

place at Prampram in collaboration with the Prampram Polyclinic and had over 100 student participants coming from PramPram Wesley Methodist Basic School, Prampram D/A Basic A, St. Joseph’s Anglican Basic School, Freeman Methodist Basic School and Abia D/A Basic School.

Students gathered there were educated on Relationships, Personal Hygeine, Teenage Pregnancy and sexually =transmiitted Infections and were later taken through the skills training such as soap making and bead making by Eugenia Martey( Program Manager, Tanoewomanrising), Dinah Sackey( Arthur and Relationship Coach) , Dorcas Mensah ( Community Health Nurse, Prampram Polyclinic), Faustina Ankrah Abradu( Skills Trainer-Bright Diamond Ventures) and Alexander A. Luther( Skills Trainer- AJ Creative Ltd ) respectively.

The conference was an insightful, informative and empowering experience for the students as well as other participants from the community.

“We therefore call on the government and other stakeholders to support us on this worthy cause and help empower our young girls as we fight to break the bias and create opportunities for young girls in Africa. The fifth edition is slated for 7th May, 2022 at Akosombo in the Easter Region.”

MESTI, other Ministries ready to work with waste companies...in management of plastic waste The Ministries of Sanitation and Water Resources, Fisheries and Aquaculture, Local Government and Education have been urged to sensitise the public in the management of plastics and waste in general.

Making the call during a facility tour of some Zoomlion Ghana Limited’s plastics production plants (PPP) in Accra on Wednesday, March 16, 2022, the Minister of Environment, Science, Technology and Innovation (MESTI), Dr. Kwaku Afriyie, said the central government was aiming for a secular economy.

By becoming a secular economy, he noted that Ghana would be able to recycle aluminum cans, e-waste, plastics among others and then also turn them into other useful items.

“Some we can turn them into energy among others,” he added.

Dr Afriyie indicated that the model currently being used for plastics was based on economic incentives, which is “when you bring (plastics), they weigh them and they pay you.” “…and that is why we have realised that the PET bottles and the sachet water and then the under 20

microns (we call it the flexible bags), you see that people are not inclined to pick them. But they are the ones that give plastics a bad name,” he pointed out.

It was against this backdrop that the minister said the government was looking for an alternative model that will complement the economic incentive model.

“I have discussed it with Dr. Siaw Agyepong and his managers that we are thinking about different things.

For the other key ministers, we have met at least four times on this matter, and we have an idea of what will work and what will not work,” he disclosed.

Dr. Afriyie said the whole recycling idea is a private initiative, assuring that the government does not intend to set up any system to compete in that space.

Rather, he said the government was looking at capacity issues so that they can expand and deal with it He said all these measures fit into the government’s vision of making Accra the cleanest city in Africa.

The Chief Executive Officer (CEO) of Environmental Protection Agency (EPA), Dr. Henry Kwabena Kokofu, who accompanied the minister, entreated the citizenry to have positive attitudes towards the environment.

He said segregation of waste

was very key to help the country manage waste efficiently.

He assured that his agency was ready to partner with the private sector to ensure the proper management of waste in the country.

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FRIDAY MARCH 18, 2022

ADB resumes Saturday Banking in 27 branches The Agricultural Development Bank PLC (ADB) has resumed its Saturday Banking Services in twenty-seven (27) branches across the country.

The selected Branches in the Greater Accra Region include Spintex, Madina, Tema Main, Dansoman, Kaneshie, Makola, Ridge, New Town, Nima, Ring Road Central (RRC), Teshie, Nungua and Abeka Lapaz.

Also in the Ashanti Region and Bono/Bono East Regions Customers can visit the Obuasi, Kumasi Adum, Ejisu, Berekum, Techiman, Sunyani and Dormaa Ahenkro branches and customers in the Central, Western, Eastern, Northern and Upper West Regions could visit the, Kasoa, Mankessim, Takoradi Market Circle, Koforidua, Nkawkaw, Tamale Main and Wa for the Saturday Banking services.

Commenting on the resumption, the ADB Managing Director, Dr John Kofi Mensah said the resumption of the service was part of Management’s decision to offer more services to customers.

He indicated that the branches will be opened from 9:00am2:00pm and further announced the resumption Holiday Remittance services at five (5) branches within the Greater Accra region namely, Abeka-Lapaz, Nungua, New Town, Madina and Kasoa.

“With customers currently abiding by the COVID-19 protocols and the continuous demand for the service by our customers we are resuming the service in our 27 selected branches,” he said.

He further revealed that customers receiving monies from

their friends and families during holidays such as Easter, Eid-alAdha, Christmas etc can now also and providing Remittance services will put our customers at an advantage to receive money from their loved ones abroad during public holidays,” Dr Mensah stated.

Wear Ghana launches “DoGhanaGood” campaign WEAR Ghana, one of the country’s leading fashion brands has urged Ghanaians to feel empowered and demonstrate a sense of patriotism as a key virtue to national pride.

As the country basks in the Ghana month celebrations, officials of the company indicate that they aim to stimulate hope among indigenes to play a major role in nation building.

According to the CEO of the company, Awura Abena Agyeman, it is easy to live in a country like Ghana and feel powerless by all that goes wrong and she adds that it is the opportune time to restore national pride and collectively build the country.

“Ghana’s independence was won in March. This month presents a fine opportunity to ask ourselves some deep questions about who we are and where we are going as a nation.

Remembering the story of our independence also serves as a great catalyst to challenge us to be more involved in making an impact in our communities.”

The main campaign is centred around three pillars, and as the CEO explains; “look around you and find a problem to solve which will make a positive impact to Ghana. Solve this problem alone, with your friends or with your colleagues at work and tell the world about it with the hashtag #IDoGhanaGood on Facebook, Instagram, Twitter and/or Tik Tok. Nominate someone who has been doing good for Ghana with

the hashtag #DoGhanaGood on Facebook, Instagram, Twitter and/or Tik Tok. 10 nominees will be selected based on impact and celebrated.

They will be given citations and their stories shared with the world. They will earn the title #DoGhanaGoodHero.

Finally, we want people to write letters to Ghana. What would you say to this country? Letter writing takes you on a very personal and revealing journey. It sheds light on our emotions and gives us the opportunity to reflect on our actions. Share this letter with us with the hashtag #DearGhana.”

The move is intended to generate conversations among the rank and file of Ghanaians, conversations which are solution driven and action- invoking.

“We are a company that cares passionately about Ghana and Africa. And we are a group of young people who see ourselves as capable of contributing solutions to the problems around us. We think it is our responsibility as a company to help build a Ghana we will feel proud to hand over to the next generation. We also think we are capable of inspiring those around us to do same.”

At the end of the campaign, the company is expected to have a body of work that would serve as a source of inspiration and encouragement for those looking to contribute towards building this country. We

would have documented projects that Ghanaians are working on, and created a digital museum which will hold the dreams and aspirations of Ghanaians from varied walks of life As part of the campaign, WEAR Ghana is also launching The Klenam Project which will have the company run a free Introduction To Tailoring Course for women in Haatso and

its environs, with the objective of employing successful trainees.

To mark the Ghana month and independence celebrations, the company has already released the Osagyefo GIGI in honour Ghana’s first president who led the fight for our independence from colonial rule.

FRIDAY MARCH 16, 2022

9

| F E AT U R E

“Experiencing the STRATCOMM Africa excellence” Ghana, making Stratcomm Africa the first Ghanaian company to win an IPRA award.

An initiative that continues to impact many lives. The organization’s innovative Garden and Flower Movement which was initiated in 2013 has won several awards.

Currently, the Ghana Garden and Flower Show has become one of the major events people look forward to in the year and most especially this year, as the movement celebrates its tenth year. This initiative is to create awareness among Ghanaians about the environmental commercial, aesthetic and health benefits of horticulture and floriculture. It aims to contribute to the achievement of the UN Sustainable Development Goals (UN SDGs) through helping to promote a greener, healthier, wealthier, more beautiful Ghana.

My journey

EMMANUELLA YAMOAH.

T

he phrase “and the award goes to” has always been one that triggers a rush of emotions. The kind that I experienced on that memorable day, Friday 21st January 2022.

As representatives of Stratcomm Africa received awards on behalf of the company amidst continuous echoes from people applauding in admiration, it dawned on me, with irresistible excitement and joy, “We did it!! Stratcomm Africa wins again!!”

The feeling was immensely satisfying.

A well-deserved Award With twenty- eight years (28) of experience and leadership in the Communication Industry this year, Strategic Communications Africa Limited (Stratcomm Africa) continues to dazzle clients, stakeholders and the world at large with its determination to proffer total communications. Adopting a unique approach, which is “blending the science and art of communication”. Stratcomm Africa has consistently raised the bar and remained pioneers in delivering excellent communication services to individuals, private and government institutions in both local and international contexts. The organization has also demonstrated its love for innovation and humanity through the implementation and execution of many projects that have improved the lives of many individuals, institutions and communities.

Today, Stratcomm Africa can proudly boast of many awards and recognition local and international .

At the recent Public Relations and

Communication Excellence Awards organized by the Institute of Public Relations (IPR) Ghana, Stratcomm Africa emerged as a winner once again taking away the award for “Best in Content” and “Best in Non-Profit Communication”.

These awards acknowledged and gave recognition to Stratcomm Africa’s commitment to excellent communication using innovative, creative and relevant communication strategies and channels.

As part of efforts in fighting the deadly Corona virus, Stratcomm Africa launched “The Adventures of KOO the Covid Prefect” an educational cartoon series designed to contribute to Ghanaians staying informed and keeping safe. The web series was translated into different local languages to help eliminate language barrier in communication. Stratcomm Africa went further to make the series available to all through social media, TV and radio broadcasts and in commercial buses and lorry stations. This initiative has impacted the lives of many and has definitely contributed to educating Ghanaians about the prevention and spread of Covid 19.

Creativity and Innovation You will agree with me that Stratcomm Africa is indeed a pacesetter in the Communication Industry. In 2016, the organization brought home from Qatar the coveted award for “Outstanding Achievement in Public Relation”, for its work in relation to supporting its client employ innovative approaches to promoting female access to financing in

My journey, since I joined the Stratcomm Africa team, has been a total blessing and delight, and this makes me excited about the years ahead. To say that working with Stratcomm Africa is a big challenge would be an understatement. That I would be required to put in more than one hundred percent was very clear from the start. I had to hit the ground running, with the loads of checklists to cover, the contents to analyse and the various brainstorming sessions I had to attend. I quickly realized why this organization holds a strong reputation and is considered the best. We do not compromise on the minute details, all the while looking at the bigger picture. Every detail is scrutinized, every idea thoroughly researched and every innovation given the opportunity to bloom. Stratcomm Africa’s leadership grooms you into becoming the best version of yourself using the right training and experience that allows you to develop and build your confidence to your fullest potential and capability. Stratcomm Africa instils in its team a “can do mindset”.

Ms. Esther A N Cobbah, Founder of the Organization believes in each team member and continually encourages us with the saying “A mistake is a resource depending on how you use it “. Today I am comfortable in carrying out duties and activities outside what I studied at school.

I wish to say big thank you to the management of Stratcomm Africa, led by the ever loving Esther Cobbah, for their continuous encouragement and direction that have over the years shaped our lives and our personalities. I also cannot talk about Stratcomm Africa’s achievement without mentioning all past executives and staff who have in way or the other contributed to making Stratcomm Africa the best we have now. To our cherished clients, we appreciate your role in our success and we continue to assure you of our commitment to excellent service.

To everyone reading this article, the main takeaway is in believing in yourself and an attitudinal willingness and quest for growth. Be encouraged by your mistakes to do better. I am proud to be a part of this team of go-getters! Cheers to this amazing win and many more to follow. The road ahead looks exciting, stick with us.

10

| F E AT U R E

FRIDAY MARCH 18, 2022

53 towns and communities get improved power quality with reduced outages Residents of 53 towns and communities located in the Electricity Company of Ghana’s (ECG) Achimota, Dansoman, Akuapim-Mampong, Legon, Kwabenya and Kaneshie Districts are experiencing improved power quality and a significant reduction in outages.

This is as a result of the completion of works to upgrade the electricity distributor’s low voltage network in several areas of the project districts.

Almost 600,000 residents, comprising businesses and homes in the six districts, are benefiting from the project referred to as the Low Voltage (LV) Bifurcation and Network Improvement Project.

Prior to the inception of the project, residents commonly experienced low and fluctuating voltages which manifested in dim lights and caused damage to electrical appliances.

They also suffered frequent power outages caused by overloading in transformers and conductors that served these communities.

For ECG, having long and undersized conductors in these areas led to high technical losses, frequent and long downtime and high operations and maintenance costs.

“Some residents say their lights are now brighter and more stable, and that they are now able to use all their electrical appliances anytime of the day. This implies that they are noticing the improvements and impact of the project”, said Roland Osei Nyarko, the LV Bifurcation Project Manager at MiDA. He said that the Project is expected to eventually contribute to improved incomes for the beneficiary residents, enhance job opportunities and the wellbeing of the people, and contribute towards Ghana’s efforts at reducing poverty and increasing economic growth.

The LV Bifurcation & Network Improvement Project aims to improve the quality of power supply by transferring load from existing overloaded electricity conductors and transformers to newly installed

ones.

The scope of the project covers the installation of 393 new transformers of various capacities and the replacement of 88 over-aged ones.

It also includes planting over 17,000 wooden electric poles across the six Districts, upgrading about 992 km of undersized conductors or lines, and installing 75 km of new low voltage lines.

Construction activities in the

Achimota, Dansoman, Kaneshie, Akuapem-Mampong, Kwabenya Districts have been fully completed.

Activities in the Legon District, currently at 85 percent complete, are on scheduled to be fully completed in May 2022.

The contractors undertaking the project are Messrs.

Power Factor Ltd, Best & Crompton Engineering Ghana Ltd, and MBH Power Ltd.

Tema Port boss courts support for IMO’s SheEO Leadership Prog.

The Director of the Port of Tema, Sandra Opoku has encouraged women in the maritime and shipping industry to take part in the IMO SheEO leadership programme which is focused on equipping women with leadership skills and confidence to enable them participate in decisionmaking in the industry.

This, according to her, is a way of encouraging gender equality in the maritime industry for a sustainable tomorrow.

Speaking at the Celebration of the International Women’s Day organised by Women’s International Shipping and Trading Association (WISTA Ghana) in the Western Region, she indicated that having women in positions of authority is crucial, but that must come on the back of seafaring experience, education, and training.

Mrs. Opoku said, “women, I encourage you that, you have to take your own place at the table. Do not expect to have the red carpet rolled out for you just because you are a woman. You have to prepare yourself so that when the opportunity comes you take your place.”

She said it is imperative that women’s role in maritime activities

are advanced by ensuring there are opportunities for them to be educated and gain experience in maritime activities.

The Director of the Port of Tema added that, “efforts to ensure safety and support for female seafarers and infrastructural changes that will

ensure female physical security on board ships are also needed. Most of the time, when you go on vessels, it is just one woman when you have more than twenty crew members.”

President of WISTA-Ghana Jemilat Jawulaa Mahamah acknowledged that in order to harness gender

fairness in the nation’s maritime trade, women have to be allowed to play significant roles.

She said, “women who go to sea must gain multilevel and multisector experience such as executive and engineering experience rather than being limited to entry or low paying occupations.”

She expressed joy over the rise in the number of women receiving education and training required for careers such as marine piloting which entails steering ships into ports and harbours.

The Western Regional Minister Kwabena Otchere Darko-Mensah said it is imperative for Ghana to adapt measures that will promote greater women participation in Ghana’s maritime domain by stifling all forms of discrimination and traits of inequality to enable women attain high positions within the corporate ladder of the maritime industry.

According to him there is ample evidence to prove that investing in women has been effective in lifting communities and countries. He said, “countries with better gender equality have better economic outcomes.”

FRIDAY MARCH 16, 2022

11

| NEWS

Prof Gyampo lists 9 ways Akufo-Addo can elicit support from the citizenry An Associate Professor of Political Science at the University of Ghana, Ransford Edward Van Gyampo has written an open letter to President Nana Addo Dankwa Akufo-Addo detailing ways the government can garner support from the citizenry.

OPEN LETTER TO PRESIDENT AKUFO ADDO ON CURRENT HARD TIMES. Your Excellency, I greet you. It is clear that times are hard and many Ghanaians never imagined that these will happen in your regime. You gave all of us a lot of hope in the lead up to the 2016 General Elections and to be fair, you cannot be accused for not doing anything since your election. The challenge however is that, apart from Free SHS, your appointees and communicators have been superincompetent in touting your achievements in a manner that ingrains them in the psyche of the people, thereby creating the impression that not much has been done. But this may be discussed in detail in another candid letter to you another time.

For now, my focus is on the hard times in which we find ourselves. There may be several legitimate explanations accounting for the current tough times. But as the Hobbesian account of the generation of the Leviathan show, the essence of instituting a government, is not to explain, but to solve problems, so we do not relapse into the State of Nature. I have heard many of your appointees trying to offer credible explanations behind the scenes, about why we are where we are now. But with respect, Sir, we never gave a mandate for a second term for problem explanations that are inconsequential to dealing with the tangible challenges we are all experiencing now.

If something can be done, it must be done now. If nothing can be done, Ghanaians must be in the know, so they can resign themselves to fate. But I honestly believe there are a couple of things that you can do to show leadership, whip up patriotism and elicit support from the citizenry in helping you to navigate all of us from the current challenges we face as a people.

I humbly make the following suggestions for your consideration: 1. Reduce the size of your government now, by realigning some functionally duplicative ministries and dropping some ministers.

Some proposals can be made to this effect, but a government that wants to lead by example in these hard times, should know the ministries that are a complete waste and drain on our limited resources and either realign or scrap them.

2. If necessary, please reduce your own salary and that of your remaining appointees by 30 percent, and reduce or completely suspend the payment of all the allowances and per diems that are given to people who already earn huge salaries (even when reduced by 30 percent).

3. Apart from the Presidency, please reduce or completely withdraw the fuel coupons that

grant free fuel to all appointees, friends and family members, so all will buy fuel and be frugal with the little they have.

4. Park all the V8 Vehicles, auction some, and let the remaining be used only when appointees are traveling out of the city centers to the remote hinterlands where the real use of these vehicles may be needed. Let these appointees drive their salon vehicles to work.

Let us supplant the view that, poor people are extravagant.

5. Let all appointees stay and work here in Ghana. If they have to travel, let them fly with economy class tickets. Your recent flight with a commercial airline to Dubai is commendable and must be emulated.

6. Reinstate the hurriedly scrapped toll booths and let them begin to collect road tolls, adjusted a little from 50 pesewas to 1 cedi for salon vehicles, and from 1 cedi to 2 cedis for big engines.

9. Finally, sir, I know you believe in loyalty and you trust those in whom you repose much confidence. But I think you must consider the possibility of reshuffling the managers of our finances and the economy, just for the purposes of tapping into fresh ideas and renewed energies in helping you to sail us through the storms currently hitting us. I believe you still have the men to help, else, please look outside your party, for we are all sinking in a common boat and where necessary, other Ghanaians must be brought on board for the rescue.

Your Excellency, I am of the firm belief and conviction that, these measures will help you garner the needed support from the citizenry in these difficult times, offer some solutions, and make the call for belts to be tightened, receptive and not repulsive. Thank you Sir. Yaw Gyampo A31, Prabiw

7. Scrap some of the “nuisance taxes” on petroleum products to cushion Ghanaians.

P.A.V. Ansah Street

8. The 2020 Auditor-General Report suggested that we lost 12.8 billion cedis due to infractions and other irregularities committed by statutory institutions. Please quickly institute measures to ensure we don’t continue to fetch water with basket, even in these hard times.

&

Saltpond Suro Nipa House Kubease Larteh-Akuapim

12

|NEWS

FRIDAY MARCH 18, 2022

Tanzania: African Development Fund commits $125.3 million to expand water resources and boost climate resilience

The Board of Directors of the African Development Fund on Wednesday approved a $125.3 million loan to finance the first phase of the Dodoma Resilient and Sustainable Water Development and Sanitation Program in Tanzania.

Specifically, the loan from the African Development Fund, the concessional window of the African Development Bank Group, will cover the construction of a dam and water treatment plant to address supply challenges in Dodoma City

and the towns of Bahi, Chemba and Chamwino.

The program aims to improve water supply for multi-purpose use by developing water resources for Dodoma City and the three towns.

It is expected to enhance access to potable water for two million people and provide better sanitation services for about 1.5 million people by 2051.

Around 52% of the beneficiaries will be female.

It will also ensure the sustainability of the water resources with related

improved community management by catchment protection and management and build resilience against climate change and variability.

The program will create more than 640 jobs (140 permanent and 500 temporary) during the construction and operation of the dam and the water treatment plant.

Presenting the program to the Board, the Bank’s Director responsible for Water Development and Sanitation, Osward Chanda,

emphasized: “The program will contribute towards the attainment of national targets and Sustainable Development Goals (Goal #6) on water and sanitation by 2030 and strengthen water, sanitation and hygiene services as essential barriers to waterborne diseases, including prevention against Covid-19, in communities, healthcare facilities, schools, and other public places.”

The Bank Group is financing 94% of the $132.9 million estimated cost of the first phase. The Tanzanian government will provide counterpart funding of the remaining 6%. The Ministry of Water will execute the program, which is expected to take off in March 2022.

The proposed program is part of a series of infrastructure projects supported by the Bank Group in Tanzania, aimed at accelerating the achievement of the country’s long-term development aspirations of becoming a middle-income and semi-industrialized economy by 2025, as outlined in the Tanzania Development Vision 2025. The program also aligns with the Bank Group’s Ten-Year Strategy (20132022) objectives of inclusive growth and gradual transition to green growth. It is expected to contribute to one of the Bank’s High 5 priorities, namely improving the quality of life of the people of Africa.

Spark+ Africa Fund reaches its first financial close with $40 million to invest in clean and modern cooking solutions The Spark+ Africa Fund has raised over $40 million in a first close, it was announced on Wednesday. The Fund is the world’s first impact investment fund focused on financing the value chains of clean and modern cooking appliances and fuels, to make them available to more people across SubSaharan Africa.

Clean cooking businesses face many challenges, including limited access to investment capital to increase their production and distribution capacity, high-risk perception, and an insufficient return profile to attract commercial investment.

Spark+ directly responds to these challenges and is a key component of the African Development Bank’s actions in the area of clean cooking.

Spark+ is anchored by the African Development Bank, using resources from the Sustainable Energy Fund for Africa.

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, provided anchor financing for the innovative

fund. Dr. Daniel Schroth, the Bank’s Acting Director for Renewable Energy & Energy Efficiency, said: “SEFA’s anchor investment in the Fund’s first-loss tranche contributed to catalysing the participation of additional financiers in Spark+. We are pleased that the Fund has been established as its investments are expected to support the delivery of clean cooking solutions to well over 10 million people across Sub-Saharan Africa, with significant benefits for public health, gender equality, the environment, and climate.”

The Spark+ Africa Fund was launched by its Switzerland-based investment advisor Enabling Qapital and Netherlands-based foundation Stichting Modern Cooking. Peter George, Co-Investment Director of Spark+ and Chairman of Stichting Modern Cooking, said: “We are grateful for the catalytic role that the African Development Bank and SEFA have played in launching Spark+.

Access to clean and modern cooking solutions is an underappreciated component of infrastructure, with

a major impact on the health and well-being of hundreds of millions of people, and in particular women, on the continent.”

Xavier Pierluca, Co-Investment Director of Spark+ and Managing Partner of Enabling Qapital, said: “The support from SEFA and the African Development Bank are key and timely to finance an essential segment of the access to energy space with a significant impact on people’s lives and our planet.

Spark+ will offer tailored investment instruments throughout the value chain, from innovative design and manufacturing companies to lastmile distributors, in order to further the outreach of clean cooking solutions in Sub-Saharan Africa.”

Apart from the African Development Bank, Spark+ Africa Fund is supported by more than a dozen investors, including governments, foundations and financial institutions. The Clean Cooking Alliance, an initiative of the United Nations Foundation, and its donors, including the Norwegian and Dutch governments and the African

Development Bank, supported the development of Spark+. The Fund has a target size of $70 million.

Spark+ Africa Fund will make debt, mezzanine, and equity investments in companies that manufacture and distribute clean cooking solutions, such as biomass stoves, advanced biomass fuels, liquefied petroleum gas, ethanol and biogas systems.

Spark+ will also invest in distributors and consumer finance providers, such as off-grid solar companies and microfinance institutions that extend their services to clean cooking products.

Access to reliable and affordable energy remains an aspiration for many Africans. While Africa has made strides towards increasing electricity access over the last decade, there has been less progress on access to clean cooking solutions. Close to 900 million people in Sub-Saharan Africa still lack access to modern energy services for cooking, with negative impacts on health, especially for women and children, and the environment.

| BANKING

FRIDAY MARCH 16, 2022

13

Breaking the bias in the banking sector, UBA Ghana leads the way with the appointment of 17 female branch managers out of 28 It may be customary to trumpet the wonderful achievements of illustrious women during this time of the year, but its importance cannot be overemphasized.

Although women presently enjoy greater freedom and leeway relative to their predecessors in decades past, there’s still a need to shatter stereotypes and break biases about female potential in various sectors, especially banking. As Africa’s global bank, UBA is dedicated to pushing boundaries and blazing trails in all facets, particularly in women empowerment.

Banking is hectic. There is so much to do and so many deadlines and targets to meet. While the competitiveness of the industry may prompt some to think it is no place for a woman, UBA Ghana has shattered that perception through the dominance of women in the helm of its business offices countrywide. While it is impressive that 7 out of every 10 UBA Ghana branch managers are women, it speaks of the Bank’s commitment to help carve the Africa of tomorrow— one free of all biases, stereotypes, and misconceptions. Thus, let us celebrate the feminine input in the banking sphere, and let us take pride in its innovative contributions.

Sharing experiences of their journey so far, a female Branch Manager, Belinda Yaa Dankwaa Tinkorang said she joined UBA in 2006 as a Profit Centre Manager at the Takoradi Business Office, she was in 2007 transferred to the Madina Branch to serve as Business Manager. Having shown a penchant for leadership, she has since headed

the Tema Main, East Legon 2 and the Head Office branches.

Her passion for quality customer service has propelled her career to higher heights, as seen in her appointment as Group Customer Service Ambassador in 2016. She unsurprisingly advocates women empowerment as demonstrated by her grooming of young ladies to take up leadership roles, and this is informed by her belief that a woman’s potential for excellence knows no bounds. Due to the passion for customer service, she has also built an extensive network base which stems from the rich relationships she has built over the years. She is the quintessence of the type of woman deserving of celebration—the one who goes above and beyond to attain excellence and illustriousness in her

field, regardless the hurdles.

For over a decade, Branch Manager for Tema Main, Josephine AmoAsare has risen as a teller, through all operational positions, to sales and now business manager, she says for a fact that as a woman, the opportunities available are for all and for whosoever is prepared and can fit.

She commended Regional Chief Executive Officer for West Africa, Mrs Abiola Bawuah for creating the opportunities for women to lead.

Christina Enos, Branch Manager for Achimota also joined UBA in 2009 as service personnel. Due to her hard work and ability to develop and maintain relationships, she was retained after her national service and employed as a relationship officer in September 2010.

She worked as a relationship officer through to a relationship Manager for 9 years and rose to the position of a Business Manager in the first month (October 2019) of her 10th year in UBA. She says her new role as a Business manager of Achimota has been interesting and challenging at the same time.

The month of March may be Women’s Month, but the celebration of excellent women should not be reserved for a number of weeks or months. Here at UBA Ghana, we are dedicated to ensuring that gender equality is promoted in all facets of our business, and that eminent female minds can flourish as lionesses in our pride.

14

| MARKET REVIEW

FRIDAY MARCH 18, 2022

Weekly Market Review For Week Ending March 11, 2022 MACROECONOMIC INDICATORS

BEST 5 TRADED EQUITIES BY VOLUME FOR THE WEEK ENDING 11/03/2022

Trend in Market Indices - 2022

SOGEGH, 4.25%

ACCESS, 7.73%

2,500

SIC, 8.38%

2,000 1,500

MTN, 42.28%

1,000 500

ETI, 26.14% 1/2 2 25 /0 1/2 01 2 /0 2/ 2 08 2 /0 2/ 2 15 2 /0 2/ 2 22 2 /0 2/ 2 01 2 /0 3/ 2 08 2 /0 3/ 22

/2 2

/0 18

01

1/2 2

0

11/

15.7% 8.0%

3,000

/0

6.6% 5.3% 5.0% 14.50% 13.01%

04

Q3, 2021 GDP Growth Average GDP Growth for 2021 2021 Projected GDP Growth BoG Policy Rate Weekly Interbank Interest Rate Inflation for February, 2022 End Period Inflation Target – 2021 Budget Deficit (% GDP) – Dec, 2021 2022 Budget Deficit Target (%GDP) Public Debt (billion GH¢) – Nov, 2021

GSE CI

GSE FSI

9.7% BEST 5 TRADED EQUITIES BY VALUE FOR THE WEEK ENDING 11/03/2022

7.4%

Debt to GDP Ratio – Nov, 2021

78.4%

YTD Performance of GSE Market Indices 0.50%

EGL, 9.26%

0.00%

GCB, 6.14%

-0.50%

04 /0 1/ 22 11 /0 1/ 22 18 /0 1/ 22 25 /0 1/ 22 01 /0 2/ 22 08 /0 2/ 22 15 /0 2/ 22 22 /0 2/ 22 01 /0 3/ 22 08 /0 3/ 22

344.5

-1.00% -1.50%

MTN, 40.32%

ACCESS, 12.97%

-2.00%

SCB, 15.09%

-2.50% -3.00%

STOCK MARKET REVIEW

-3.50%

Price Movers for the Week Equity

Opening Price

Closing Price

Gain/Loss (%)

SIC Insurance Company Ltd.

0.16

0.19 ▲18.75%

Ecobank Transnational Inc.

0.13

0.15 ▲15.38%

Societe Generale Ghana PLC

1.2

1.19

▼0.83%

0.85

0.84

▼1.18%

Cal Bank PLC

GSE CI

GSE FSI

5 Best & 5 Worst Performing Stocks YTD Return

Volume and Value of Trades for Week Ending 11/03/2022

160.00% 140.00%

1600000

120.00% 100.00%

1400000

80.00%

1200000

60.00%

1000000

18.28% 17.78%

40.00%

17.65%7.14%

20.00%

800000

-60.00%

I CA L BO PP FM L PB C AC CE SS

-40.00%

200000

ET

400000

TB

-20.00%

L

0.00%

600000

0

137.50%

EG L GG BL

Market capitalization inched up by 0.75% to close the week at GH¢63,713.16 million, from GH¢63,239.29 million at the close of the previous week. This reflects YTD decrease of 1.21%.

Trading activity recorded a total of 1,892,384 shares valued at GH¢2,142,874 changing hands, compared with 43,849,420 shares, valued at GH¢45,434,231.80 in the preceding week.

MTN dominated both volume and value of trades for the week, accounting for 42.28% and 40.32% respectively of total shares traded.

The market ended the week with 2 gainers and 2 decliners as indicated on the table below.

-4.00%

SI C

The Ghana Stock Exchange strengthened for the week on the back of upward movements by 2 counters. The GSE Composite Index (GSE CI) gained 13.66 points (+0.50%) to close at 2,744.25 points, reflecting year-to-date (YTD) loss of 1.62%. The GSE Financial Stocks Index (GSE FI) also gained 24.76 points (+1.17%) to close at 2,141.77 points, reflecting year-to-date (YTD) loss of 0.47%.

-3.45%

-25.00% -33.33%-39.68% -9.77%

07/03/22 08/03/22 09/03/22 10/03/22 11/03/22 VOLUME

VALUE

CURRENCY MARKET

Market Capitalization for Week Ending 11/03/2022 63800 63700 63600 63500 63400 63300 63200 63100 63000

0 -0.002 -0.004 -0.006 -0.008 -0.01 -0.012 -0.014 -0.016 -0.018 -0.02

22 22 22 22 22 3/ 3/ 3/ 3/ 3/ 0 0 0 0 0 / / / / / 07 08 09 10 11 MARKET CAP

YTD%

The Cedi depreciated against the USD for the eighth consecutive week. It traded at GH¢7.0250/$ on Friday, compared to GH¢7.0019/$ at week open, reflecting w/w and YTD depreciations of 0.33% and 14.50% respectively. This compares with YTD appreciation of 0.59% a year ago.

The Cedi advanced marginally against the GBP for the week. It traded at GH¢9.1814/£, compared with GH¢9.2527/£ at week open, reflecting w/w appreciation and YTD depreciation of 0.78% and 11.48% respectively. This compares with YTD depreciation of 1.05% a year ago.

The Cedi also weakened against the Euro for the week. It traded at GH¢7.6934/€, compared with GH¢7.6405/€ at week open, reflecting w/w and YTD depreciations of 0.69% and 11.25% respectively. This compares with YTD appreciation of 3.33% a year ago.

The Cedi further weakened against the Canadian Dollar for the week. It opened at GH¢5.4792/C$ but closed at GH¢5.5280/C$, reflecting w/w and YTD depreciations of 0.88% and 14.22% respectively. This compares with YTD depreciation of 1.18% a year ago.

Treasury Yield Curve 22

21.75

20

19.75 19.00

70%

19.75 18.10

Weekly Interbank Foreign Exchange Rates

YTD Performance of Selected Commodity Prices

20.20

20.75

18

60%

19.75

50%

16.96

Year Open

Week Open

Week Close

Change

YTD %

16

%

YTD

6.3020

6.4227

▼1.88

▼6.49

14

%

8.1272

8.5754

8.7391

▼1.87

▼7.00

40% 30% 20%

13.55 13.25

10%

12

08/03/22

11/03/21

6.0061

7.0019

7.0250

▼0.33

▼14.50

GBP/GHS

8.1272

9.2527

9.1814

▲0.78

▼11.48

EUR/GHS

6.8281

7.6405

7.6934

▼0.69

▼11.25

CAD/GHS

4.7416

5.4792

5.5280

▼0.88

▼14.22

0% -10%

01 /0 1/ 08 22 /0 1/ 15 22 /0 1/ 22 22 /0 1/ 29 22 /0 1/ 05 22 /0 2/ 12 22 /0 2/ 19 22 /0 2/ 26 22 /0 2/ 05 22 /0 3/ 22

01/01/22 USD/GHS

10

91 Da 18 y 2D a 36 y 4D ay 2 yr 3 yr 5 yr 6 yr 7 yr 10 yr 15 yr 20 yr

Currency Pair

Gold

COMMODITY MARKET

Source: Bank of Ghana

01 /0 1 08 /22 /0 1 15 /22 /0 1/ 22 22 /0 1 29 /22 /0 1/ 05 22 /0 2 12 /22 /0 2 19 /22 /0 2/ 26 22 /0 2 05 /22 /0 3/ 22

10.0000 9.0000 8.0000 7.0000 6.0000 5.0000 4.0000 3.0000 2.0000 1.0000 0.0000

GBP

EUR

CAD

YTD Performance of the Ghana Cedi against Selected Currencies 4.00 2.00 0.00

Commodities

01 /0 1/ 08 22 /0 1/ 15 22 /0 1/ 22 22 /0 1/ 29 22 /0 1/ 05 22 /0 2/ 12 22 /0 2/ 19 22 /0 2/ 26 22 /0 2/ 05 22 /0 3/ 22

-2.00 -4.00

Year Open

Week Open

Week Close

01/01/22

14/02/22

18/02/22

93.10

93.54

1,842.10

1,899.80

2,766.00

2,573.00

Chg %

YTD %

▲0.47

▲20.26

-10.00

Brent crude oil (USD/ bbl)

-12.00 -14.00 -16.00 CAD

18/02/22

91 Day TB

12.53

12.69

12.91

▲1.81

▲3.10

182 Day TB

13.21

13.26

13.29

▲0.30

▲0.63

364 Day TB

16.64

16.99

16.99

0.00

2.06

2-Yr FXR TN

19.75

19.75

19.75

0.00

0.00

3-Yr Bond

20.50

20.50

20.50

0.00

0.00

5-Yr Bond

21.00

21.00

21.00

0.00

0.00

6-Yr Bond

18.80

21.75

21.75

0.00

15.69

7-Yr Bond

18.10

18.10

18.10

0.00

0.00

10-Yr Bond

19.75

19.75

19.75

0.00

0.00

15-Yr Bond

19.75

19.75

19.75

0.00

0.00

20.20

20.20

20.20

0.00

0.00

▲2.10

International Commodity Prices - 2022 C 3,000 O C 2,500 O A 2,000 & G O L D

140

B 120 R E 100 N T 80

1,500

60

1,000

40

500

20

0

0

Gold

Cocoa

05/03/22

14/02/22

▼6.98

26/02/22

YTD Chg (%)

▲3.89

Source: https://www.investopedia. com/terms/m/monetarybase.asp ABOUT CIDAN

Name: Moses Nana Osei-Yeboah Email:moyeboah@cidaninvestments.com Tel:+233 (0) 24 499 0069

19/02/22

01/01/22

20-Yr Bond

Current WoW Chg Yield % (%)

▲3.13

Monetary Base: The monetary base (or M0) is the total amount of a currency that is either in general circulation in the hands of the public or in the form of commercial bank deposits held in the central bank’s reserves.

This measure of the money supply is not often cited since it excludes other forms of non-currency money that are prevalent in a modern economy.

RESEARCH TEAM Name: Ernest Tannor Email:etannor@cidaninvestments.com Tel:+233 (0) 20 881 8957 Name: Audrey Asiedua Wiafe Email:aaudrey@cidaninvestments.com Tel:+233 (0) 57 840 2700

Source: www.investing.com

12/02/22

Previous Yield %

2,520.00

05/02/22

Year Open

Cocoa (USD/ MT)

29/01/22

Security

1,828.60

22/01/22

GOVERNMENT SECURITIES MARKET Government raised a sum of GH¢2,341.25 million for the week across the 91-Day, 182-Day, 364-Day Treasury bills and 5-Year Fixed Rate Bond, compared to GH¢1,229.47 million raised in the previous week.

The 91-Day Bill settled at 13.25%, from 13.14% last week whiles the 182-Day Bill settled at 13.55%, from 13.37% last week. The 364-Day Treasury Bill recorded no change and settled at 16.96%. The 5-Year FXR settled at 20.75% The table and graph below highlight primary market yields at close of the week.

Gold (USD/t oz.)

08/01/22

EUR

15/01/22

GBP

01/01/22

USD

77.78

Brent Crude

CIDAN Investments Limited is an investment and fund management company licensed by the Securities & Exchange Commission (SEC) and the National Pensions Regulatory Authority (NPRA).

-6.00 -8.00

Cocoa

BUSINESS TERM OF THE WEEK

Crude Oil prices settled higher on Friday but posted their steepest weekly decline since November, as traders assessed potential improvements to the supply outlook that has been disrupted by Russia’s invasion of Ukraine. Brent futures traded at US$112.67 a barrel on Friday, compared to US$118.11 at week open. This reflects w/w loss and YTD gain of 4.61% and 44.86% respectively.

Gold was down on Friday, with U.S. Treasury yields gaining over the latest U.S. inflation report. The commodity however posted a second weekly gain after talks between Russia and Ukraine made little progress. Gold settled at US$1,985.00 from US$1,966.60 last week, reflecting w/w and YTD appreciation of 0.94% and 8.55% respectively.

Prices of Cocoa dipped for the week. The commodity traded at US$2,580.00 per tonne on Friday, from US$2,582.00 last week, reflecting w/w loss and YTD appreciation of 0.08% and 2.38% respectively.

Exchange Rates: Ghana Cedi vs Selected Currencies

USD

15

| MARKET REVIEW

FRIDAY MARCH 16, 2022

Brent Crude

C R U D E

CORPORATE INFORMATION CIDAN Investments Limited CIDAN House Plot No. 169 Block 6 Haatso, North Legon – Accra Tel: +233 (0) 26171 7001/ 26 300 3917 Fax: +233 (0)30 254 4351 Email: info@cidaninvestmens.com Website: www.cidaninvestments.com Disclaimer: The contents of this report have been prepared to provide you with general information only. Information provided on and available from this report does not constitute any investment recommendation. The information contained herein has been obtained from sources that we believe to be reliable, but its accuracy and completeness are not guaranteed.

16

|NEWS

FRIDAY MARCH 18, 2022

FRIDAY MARCH 16, 2022

17

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

The Giving Capsules: No One Must Touch your Private Parts Nor Put Anything Inside. Violence and Abuse Against Children Must Stop. You Can Help

G

lobally, it is estimated that up to one billion children aged 2–17 years, have experienced physical, sexual, or emotional violence or neglect in the past year. Experiencing violence in childhood impacts lifelong health and well-being as put forward by the World Health Organizations violence against children report.

All children have all rights, no matter who they are, where they live, what language they speak, what their religion is, what they think, what they look like, if they are boy or girl, if they have a disability, if they are rich or poor, and no matter who their parents or families are or what their parents or families believe or do. No child should be treated unfairly for any reason.

Parents are the main people responsible for bringing up a child. When the child does not have any parents, another adult will have this responsibility and they are called a “guardian”. Parents and guardians should always consider what is best for a child. Governments should help them.

Where a child has both parents, both of them should be responsible for bringing up the child. Government must protect children from violence, abuse and being neglected by anyone who looks after them as stipulated in the convention on the rights of the child: the children’s version.

When adults make decisions, they should think about how their decisions will affect children. All adults should do what is best for children. Government should ensure

children are protected and looked after by their parents or by other people when need be. Government should ensure people and places responsible for looking after children are doing a good job.

It is very interesting how we refer to every one as Uncle and Auntie in this part of the world. Perhaps it’s about time we try to define and ascribe the true meaning of the usage of these terms. When the man from the office is an uncle, the church member is an uncle, the community neighbor is an uncle and same with the man of God also introduced as an uncle to the children, we confuse them and most of the children I held discussion with on the subject matter tell me “we are unable to know who can harm us, because our parents introduce them all to us calling them same names”.

Could this be a challenge? Calling them by their true representation may not hundred percent solve the problem but could help.

Abuse becomes violence when it causes you to fear for your life. Violence impacts every part of us—physical, emotional, spiritual and mental. Violence takes control of our lives and bodies away from us, at least for a few moments. Child abuse is a disturbing, pervasive, social and public health problem, as well as a children’s rights issue in many countries around the world. We have made some progress where before annually, about 95 million children experience abuse globally, with the highest rates reported in the African region (United Nations Children’s Fund, UNICEF 2014).

Baptista is a Hybrid Professional and the Executive Director of ProHumane Afrique International. ProHumane is a charitable, development & think thank organization working with communities & individuals to create sustainable solutions to transform communities through diverse pro-poor initiatives. Pro-poor initiatives are initiatives that help to alleviate poverty. Baptista is a realist, affable, simple and humane. You can reach her via e-mail on prohumaneafrique@gmail.com and follow this conversation on all our social media sites: Linked-In/ Twitter/ Facebook/ Instagram: ProHumane Afrique International.

Call or WhatsApp: +233(0)262213313.

Hashtag: #behumane #thegivingcapsules #prohumaneafriqueint #fowc

Although child abuse is a widespread and major threat to the achievement of the Sustainable Development Goals (SDGs) in many African countries, including Ghana, the number of children on the continent who are abused has always been underestimated (Badoe, 2017). Despite the different cultural definitions of child abuse, experiencing abuse during childhood could lead to a wide range of emotional, behavioral, and social problems, as well as impaired health and even death. The World Health Organization (WHO, 1999) defined child abuse as all forms of physical and/or emotional ill-treatment, sexual abuse, neglect or negligent treatment or commercial or other exploitation that result in actual or probable harm to children’s health, survival, development or self-worth in the context of a relationship of responsibility, trust or power. It comprises any type of maltreatment inflicted on children under the age of 18 years in their interactions with adults and such maltreatment could cause enduring harm to children (Lazenbatt, 2010).

I want to draw your attention to a psychiatric disorder in which an adult or older adolescent experience a primary or exclusive sexual attraction towards children or a child. This is a disorder, because ideally the feeling of sexual desire must be experienced towards a fellow mature adult and not a child seen as preferred sexual object. This is why we need to create awareness about it. We need to know about Pedophilias to help us protect our children

18

FRIDAY MARCH 18, 2022

Continued from page 17 and the family at large.

The meaning of PEDOPHILIA is sexual perversion in which children are the preferred sexual object. A pedophile is a person who has a sustained sexual orientation toward children, generally aged 13 or younger. Pedophilia is a psychiatric disorder in which an adult or older adolescent experiences a primary or exclusive sexual attraction towards children/a child.

Pedophilia is psychologically harmful to children and since children cannot consent to sex; sex with these children is a violation of their rights. Talking about a child, let’s try to look at who a child is. Any person below the ages of 18 is a child. In Ghana, the Children’s Act of 1998 and the 1992 Republican Constitution ( section 29 ) in like manner also define a child as a human being below the age of eighteen ( 18 ) making it in compliance with the Convention on the Rights of the Child and the African Charter on the Rights and Welfare of the Child . The United Nations Convention on the Rights of the Child (UNCRC) defines a child as everyone under 18 unless, “under

parts and fondling among others. It’s is worth noting that anybody can be a potential child abuser. Be it family, neighbor, church member, business partner, and many others can be seen to cause abuse to our children.

How did we know that? According to center for disease control on child sexual abuse, 91% of sexually abused children are abused by persons known or close to the child or the child’s family.

Usually, the people that abuse our children are not strangers. They are right there in your house, co-tenants, family members, lesson teachers and neighbours, at school, hostel, the classmates, class or school teachers, cousins, uncles, nephew, niece, fathers, step fathers, grand- fathers, imams, choir masters, pastors, confidants, security guard, maids, family and or school drivers, after school teachers , teachers, mummy’s friend, daddy’s friend, care-givers, some strangers also do that … and the list can go on. Please, do not ask if any of the above is possible because, research proves it happens. These abuses can happen when we neglect our parental responsibilities; when parents are not available to provide quality care, nor observe or get the kids well informed According to UNICEF the rights and duties of about these issues. Let’s teach children spells out the basic human rights that ALL our daughters, to know that no children everywhere have: the right to survival; one must touch her private parts to develop to the fullest; to protection from no put anything inside. Same way let’s be mindful of what we harmful influences, abuse and exploitation; and to watch with the kids on TV, on our participate fully in family, cultural and social life. mobile phones, computers and According to UNICEF the rights and duties of children many more. Parents, be careful of spells out the basic human rights that ALL children joining platforms that usually post pornography to those WhatsApp everywhere have: the right to survival; to develop to pages knowing the kids usually the fullest; to protection from harmful influences, pick the phones for games. It’s a abuse and exploitation; and to participate fully in choice you have to make; either family, cultural and social life. exposing your children to these dirty stuffs as you stay on these pages or exit to protect your children. For either choice, there the law applicable to the child, majority is a consequence. Parents we can also help is attained earlier”. According to UNICEF by supporting the kids not to start learning the rights and duties of children spells out to dress indecently. Let’s support to raise the basic human rights that ALL children our future leaders up teaching them proper everywhere have: the right to survival; to ways to dress decently and not provocatively. develop to the fullest; to protection from That way, we will be addressing the issues harmful influences, abuse and exploitation; from all angles involving and educating all and to participate fully in family, cultural stakeholders. and social life. Child Protection seeks to Where can children be sexually abused; guarantee the right of all children to a life This can happen right under your nose, or free from violence, abuse, exploitation and roof at home on their bed, or parents bed, neglect. in the school environment which could be Also note that children are gifts from at the class room, toilet with a teacher, at God and expect their earthly guardians to the hostel, at the church, at the office, at take proper care of them. One of our major parties, in their siblings room, at deserted duties is to keep them away from pedophile. and abandoned places or when you get The government is also expected to enact distracted at a location or event. When laws that will protect children from sexual next you are organizing a party, be equally exploitation (being taken advantage of ) mindful of the where about of the children and sexual abuse, including by people knowing that as little as five (5 minutes) is forcing children to have sex for money, or enough to cause a life time long damage making sexual pictures or films of them to our children when abuse happens. You or abusing them. There are different ways may be wondering, how these pedophiles children can be abused. Child molestation usually get their victims. Most, use baits, is one of the ways. Child Molestation is also emotional bait, gifts as bait, grooming them known as child sexual abuse. It is a secret to accept it as okay and normal, financial bait crime involving a range of indecent sexual by providing most of their needs and wants, activities between an adult and a child. some play the respect cards using it bait.

Other forms of molestation can be through, Befriending and establishing an emotional defilement, rape, fingering, making a child connection with a child, and sometimes the watch pornography, exposing the genital to family, to lower the child’s inhibitions with kids, indecent touching of the child’s private the objective of sexual abuse. To others,

gaining the trust of a minor with the intention of having sex relationship with them.

What then can help us to identify these possible and potential abusers? They always will be trying to be around your child or vice versa. When the child feel uncomfortable when he/she sights the abuser or when the abuser is around, should give us a clue. Easily and conveniently accept to care for your child while you are away mostly. Please be careful here, as good people still exist and may not abuser. Most of this abuser can be hard on the child especially if the child is rejecting his moves. If any of the above is observed, please, take steps quickly. Often times too, your child might feel uncomfortable rejecting to go to the person when you send him or her or even go for holidays. Sexual abuse can happen among siblings, set rules, separate their rooms, and separates their beds. A case of twins having sex with each other was reported. When they were asked, they said: “we saw mum and dad do same and though it’s okay”.

What a perpetrator says to a child willing to speak out about this kind of abuse. I will kill you, you will die, your mummy will hate you, your mummy will beat you, your mummy will blame you and your daddy will die or no one will ever believe you and all will call you a bad boy or girl. He could cut the child, lick the blood and say, this is a blood covenant between us, the day you tell is the day you die. Please parents; let’s teach our children the SRR action. The kids need to learn to first shout or scream, run away as fast as they can and report the issues.

Some possible signs to look out for to alert you, your kid could have been abused.

Isolation, aggressiveness, anxiety or fear, difficulty in walking, sudden drop in academic performance, poor social interaction and so on. Their dressing is important, dress to cover them please. Teach them privacy. They must knock and seek permission before they enter your room. It is wrong to bath them together irrespective of sex. Children don’t lie about abuse, please remember this. If your child tells you someone is trying to mess with him or her. Please believe the child and respond appropriately. There are several effects of child sexual abuse. Abused child themselves become serial abusers, they suffer depression, nurture suicidal thoughts, suffer stigma, guilt, lifelong psychological trauma, aggression, withdrawal, infected with sexually transmitted diseases (STDs) and many more.

Our boys more often than not are also vulnerable and could be victims of anal sex.

Let’s protect our boys too; we pay more attention to the girls than the boys. They both need equal attention as the healing process can be terrible for both. Strike a balance between love and discipline as parents to encourage them to share these experiences first with you parents and not friends to further lead them astray. Give your children sex education proportional to their age. Tell them what nobody must do with their body.

In the house, everyone must respect one another’s privacy. Child molestation is real; it is more painful if it happens under your close watch research tells us. Please bond more with your kids and pray for them always. The child molesters will not go near them but we must play our part too.

19

FRIDAY MARCH 16, 2022

Interested in play-to-earn crypto gaming? Attend this free Binance Masterclass Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is organizing a free GameFi masterclass for blockchain enthusiasts across Africa.

GameFi, a fusion of the words ‘game’ and ‘finance’, combines cryptocurrency, blockchain, NFTs, and game mechanics to create a virtual environment where players participate and earn money in the process.

Interest in GameFi continues to skyrocket and Binance is providing the education, resources and tools beginners in Africa require to thrive in the space as it continues in its mission to drive blockchain adoption.

Scheduled for Binance’s YouTube page, the event comes off on March 18, 2022 at 5pm (WAT). You can register https://www.eventbrite. com/e/africa-gamefi-masterclass-anama-with-gaming-guilds-in-africatickets-296589265477 In this edition of the masterclass series, Binance will be joined by industry experts to discuss playto-earn gaming, understand the implications of GameFi and how to participate in this disruptive market.

These experts are members of the following play-to-earn blockchain gaming companies: • Metaverse Magna • Afriguild • Gamic Guild Recently Binance NFT launched an Initial Game Offering platform, providing users with the opportunity to enjoy early access to exclusive in-game NFT assets from different gaming projects. Attendees will learn the process of launching or purchasing IGO collections.

In this masterclass, attendees will

also: • ●Discover some of the powerful applications of GameFi • Understand the concept of IGOs • Learn about the gaming guilds present • Understand how to play-to-earn on the blockchain To date, Binance has educated over 500,000 Africans about crypto & blockchain via its Binance Masterclass Education Series which launched in 2020.

Binance is the world’s leading blockchain ecosystem and

cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.

Binance NFT, the official NFT

marketplace of Binance, offers an open market for artists, creators, crypto enthusiasts, NFT collectors and creative fans around the world with the best liquidity and minimal fees.

Consisting of three product lines: Premium Events, Mystery Box and a Marketplace. Now, Binance aims to build the first and largest GameFi NFT trading platform for gaming projects via IGO (Initial Game Offering) - featuring core in-game assets from top gaming projects

Huawei’s TECH4ALL project in Africa wins GSMA award At MWC 2022 Barcelona, Safaricom, Close the Gap and Huawei received the Global Mobile GLOMO Award in recognition of the TECH4ALL DigiTruck project’s outstanding contribution to the UN’s sustainable development goals.

The DigiTruck project was launched in Kenya for the first time in 2019. It was launched by Huawei in collaboration with international NGO Close the Gap, Kenya’s Ministry for ICT, Computer for Schools Kenya, GSMA and operator Safaricom.

The project aims to bring digital technology to resource-poor regions and enable people to receive quality education and improve their lives.

By the end of 2020, the project has

provided services to 13 Kenyan rural areas，1300 students and teachers, clocked up to 22000 hours for training.

DigiTruck is a mobile classroom transformed from a truck container with wireless broadband access, where students can learn digital skills and access the internet.

“This win is a remarkable recognition of our efforts together with Huawei and other partners in connecting our customers digitally” said Peter Ndegwa, CEO of Safaricom.

DigiTruck is part of Huawei’s digital inclusion initiative TECH4ALL, aimed at using technology, applications and skills to empower people and organizations. In Sub

Saharan Africa, TECH4ALL is also carried out in South Africa, Ghana and Mauritius.

In South Africa, TECH4ALL has benefited more than 52000 students from over 90 primary schools both in urban and rural areas; in Mauritius, the project is using underwater cameras to monitor threatened coral reefs in real-time to protect and restore 5 hectares of the coral reef ecosystem; In Ghana, the project aims to create digital content for local teachers and students.

“I am pleased to see that UNESCO and Huawei are working with our national institutions, especially those mandated by the Government of Ghana to promote the full

integration of ICT into the education system,” said Yaw Osei Adutum, the Minister of Education.

“Information and communication technologies ICTs can help accelerate progress towards every single Sustainable Development Goals of United Nations， especially key SDGs including Quality Education, Gender Equality and Climate Change. As a global ICT company operating in Sub Saharan Africa, we try to unlock the potential of ICTs together with local and international partners for better life, better community, better environment and better future for people and future generations from the region ＂said Mr. Yang Chen, VP, Huawei Southern Africa Region.

MONDAY, FEBRAURY 14, 2022

WWW.BUSINESS24.COM.GH

NO. B24 / 314 | NEWS FOR BUSINESS LEADERS

WEDNESDAY MARCH 16, 2022

AGRIBUSINESS

Livestock: New Sub-Committee offers new policy pathways

T

he first meeting of the SubCommittee on Livestock, a technical forum for Members of the Food and Agriculture Organization of the United Nations (FAO) to advise the work of the Organization, started a threeday virtual session today.

The establishment of the Sub-Committee was agreed upon in 2020 by the Committee on Agriculture (COAG), one of FAO’s Governing Bodies providing overall policy and regulatory guidance on issues relating to agriculture (including livestock), food safety, nutrition, rural development and natural resource management. The Sub-Committee on Livestock, comprising 131 countries plus the European Union as well as observers from United Nations (UN) agencies and other international organizations, will discuss and build consensus on specific issues and priorities related to the livestock sector. The first governing body created and operationalized under FAO Director-General QU Dongyu’s tenure, the Sub-Committee will advise COAG and, through it, the FAO Council and FAO Conference, on technical and policy needs to optimize how livestock can contribute to core mandates such as poverty alleviation, food security and nutrition, sustainable livelihoods and the realization of the Sustainable Development Goals.

“Globally, we are facing a number of serious issues; in particular increasing hunger and malnutrition, poverty, the climate crisis, conflict, biodiversity loss and degradation of natural resources... Livestock can help address these challenges,” Qu said in opening remarks at the session. Many of the world’s poorest people depend directly on livestock for their livelihoods, and livestock value chains constitute the third most importance global source of income after crop production and non-agricultural

The world’s livestock systems stand out for their diversity, which offers an opportunity to scale up climate solutions.

employment, he added.

“Sustainable livestock systems is at the interface of the Four Betters set out in the FAO Strategic Framework 2022-2031: Better Production, Better Nutrition, a Better Environment and a Better Life for all, leaving no one behind,” Qu noted.

The Sub-Committee will highlight the diversity of livestock systems and the varied roles livestock plays in contributing to food security, nutrition, livelihoods and inclusive economic growth, while minimizing negative environmental impacts when sustainably managed, he said. Its success “will depend on the collective support, active engagement and contributions from each of us,” the Director-General said, calling for efficient, effective and coherent collaboration.

Harnessing synergies, managing trade-offs The Sub-Committee on Livestock was established to propel transformation of the livestock sector as needed to maximize benefits while managing challenges – which range from micronutrient deficiencies in some populations and the notable vulnerability of pastoralist communities to the climate crisis and on to the risks of biodiversity loss and inefficient land management as well as the growing global threat of antimicrobial resistance.

It is responsible for identifying and discussing major trends and issues in the global livestock sector, advising the preparation of technical reviews on relevant matters, advising on mechanisms to prepare, and facilitate and implement action programmes..

Global demand for livestock products is expected to increase by up to 50 percent by 2050, almost entirely in developing countries where the dietary benefits of animal sourced food are often less accessible, thereby creating many economic opportunities, more of which should be made available

to women and youth. At the same time, livestock production systems are major users of natural resources, can contribute to land degradation and environmental pollution and emit greenhouse gases.

Moreover, diseases such as Peste des Petits Ruminants can cause heavy losses to the sector and disrupt trade flows, while avian influenza variants can threaten public health as well as disrupt trade flows.

“We are all aware of these issues and business-as-usual is no longer an option.

And we are also aware that the livestock sector can contribute to the solution,” the Director-General said, pointing to the need for careful planning to harness synergies and manage trade-offs between different priorities.

FAO’s extensive work in the livestock arena highlights the need for such planning and shows how livestock can ensure healthy diets, support resilience and livelihoods, enable food production in marginal lands where crop production is inefficient, play a central role in the One Health approach and contribute to ecosystem services through nutrient cycling and soil carbon sequestration.

FAO, using evidence-based tools and guidelines, is working with governments, farmers, companies and communities on a range of issues such as food safety, inclusive markets, disease surveillance and response, feed optimization and the promotion for best practices for animal health and welfare.

The world’s livestock systems stand out for their diversity, which offers an opportunity to scale up climate solutions.

FAO has pioneered research into how to reduce livestock’s carbon footprint and its research has shown how wider adoption of best practices and technologies in feeding, health, husbandry and manure management can help cut GHG emissions by as much as 30 percent. FAO’s Global Livestock Environmental Assessment Model (GLEAM) and its interactive version (GLEAM-i) allows for global and national assessments of emissions and of technology and policy options to reduce them. Other technical tools FAO has developed to help Members include the Self-evaluation and Holistic Assessment of climate Resilience of farmers and Pastoralists (SHARP) tool, the EX-Ante Carbon Balance Tool (EXACT), the Livestock Sector Investment and Policy Toolkit (LSIPT), and the Tool for Agroecology Performance Evaluation (TAPE).

PUBLISHED BY BUSINESS24 LTD. TEL: 030 296 5297 | 030 296 5315. EDITOR: BENSON AFFUL EDITOR@BUSINESS24.COM.GH. +233 545 516 133.