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Ofori-Atta makes a strong case for investment in Africa’s education sector Finance Minister Ken Ofori-Atta has called on governments of West and Central Africa to scale up investment in the education of its youth to ensure economic prosperity. Mr. Ofori-Atta said despite the current pressing fiscal pressures, governments of these two regions must raise more funding for education and continue to prioritize education by giving funds more fairly and efficiently. “We must do this not just because education is a matter of national prosperity, it is because education is the great liberator, a great leveller and a promoter of mobility
and parity,” the minister said. He made these remarks at the launch of the AFW education strategy at the Kempinski Gold Coast City Hotel in Accra on Monday. Providing a context for this critical investment in the youth of the sub-region, he said that among others that Western and Central Africa suffered from chronic underperformance with higher deficits in teachers. In addition to this, about 42 million children of primary and secondary school age children were not enrolled in school. | MORE ON PAGE 2
NEWS FOR B U SINESS LEA DERS
Alex Dodoo takes over as ARSO President | STORY ON PAGE 3
NEWS DESK REPORT
President AkufoAddo to end 2ndyear stewardship as ECOWAS Chair | STORY ON PAGE 3
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News/Editorial
A green port is the way to go! State ports operator, Ghana Ports and Harbours Authority, has lined up strategic alliances and initiatives that seek to protect the environment for human, plant and aquatic life in it’s operations. Among the initiatives is a mass tree planting exercise that is intended to create a carbon sink in the port area in order to absorb the carbon emissions that emanate from direct port operations and ancillary operations. Whilst ports will have different perspectives as to what ‘sustainable’ operations truly are, broadly there are new green technologies and low and zero-carbon alternatives to fossil fuels and powerintensive terminal equipment. Globally, international maritime and shipping consortia is bringing together supply chain stakeholders to collectively reduce power
consumption and carbon emissions: The port authority has also begun the separation of plastic and paper waste for recycling while giving out wooden waste for re-use, with an initiative to embark on a reduction of waste generation as well as measures taken for waste segregation at the ports. Port activities, being industrial in nature can pose risk to the environment and that is why the move towards a green port is the sustainable ports agenda and this would be successful with the collaboration of stakeholders. The use of green of innovations in the ports could significantly play down the cost of doing business within the port community aside making the industry more sustainable and future-fit.
Ofori-Atta makes a strong case for investment in Africa’s education sector
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In Central Africa, one in three adults is illiterate, while in Western Africa, the average primary completion rate is only 53 percent, as against 83 percent in Northern Africa. The Bill and Melinda Gates Foundation has pointed out that if investment in human capital in Africa is still unchanged, GDP (Gross Domestic Product) per capita would increase by 39 per cent by 2050. However, if countries in Africa increase their investments in the health and education of young people, this could trigger an 88 per cent increase in GDP per capita by 2050. This significant education infrastructural (physical and digital) deficit, Mr. Ofori-Atta said, required that governments of AFW invest more funds in the sector to unlock the transformative power of education as proven by the Education Commission. According to the Commission, “education unlocks not only individual opportunities, but also unlocks gender equality, better health, better qualities of life and
a better environment.” “Undeniably, a significant increase in financing is necessary if we are to overcome the learning poverty. Spending must significantly rise above the recommended 4.1 per cent of GDP on education, if we are to compete on the global scale,” he said. This implies almost doubling the education expenditure levels, as a proportion of GDP, from the current 3.1 percent and 4.0 percent in central and Western Africa, respectively. Speaking of these realities, the finance minister said: “We need to take bold and urgent action to reverse this trend by advancing reforms in education and delivering better access to quality education for all children in the region.” He emphasized that, “The unequivocal benefits of education are what drives the President, Nana Addo Dankwa Akufo-Addo’s vision to ensure that secondary education becomes a must for all Ghanaian students, culminating in the free senior high school policy in Ghana,” he added.
On the Educational Strategy, he said that the was significant and unique, as it is focused on strengthening strategic leadership and promoting investments in impactful interventions, as well as, advancing result-based implementation. The strategy also empowers countries to pursue diversity; that is, balancing Technical and Vocational Education and Training (TVET), the promotion of science, arts, and culture, targeting sports and special schools in the educational system. Mr. Ofori-Atta appreciated the support of the World Bank in this reform and investment process and said: “The World Bank deserves commendation for co-creating this re-engineering process for the future of our region.” Ousmane Diagana, World Bank Vice President for Western and Central Africa noted that education systems across Western and Central Africa faced an unprecedented crisis worsened by COVID-19. He, however, said that Western and Central Africa countries were committed to addressing such challenges, adding that the Bank has mobilized to support them through financial resources and expert advice. More than forty Ministers of Finance and Education from Western and Central Africa concluded the one-day meeting in Accra with an urgent call to advance reforms in education and deliver better access to quality education for young people across the region.
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FRIDAY, JULY 1, 2022
Alex Dodoo takes over as ARSO President
The Director General of the Ghana Standards Authority (GSA), Professor Alex Dodoo has been sworn-in as the President of the African Organization for Standardization (ARSO). In his inauguration speech, he expressed gratitude to ARSO Council members and the General Assembly for the trust and confidence reposed in him to
lead the organization. “I am delighted and privileged to serve as ARSO President. I will give it my all and rely on your support to prosecute our mandate of using standards to transform our countries and our continent,” Prof Dodoo told the ARSO General Assembly in Yaounde, Cameroon. Prof. Dodoo replaces BOOTO à NGON Charles of Cameroon
after a one-year term at the intercontinental body in-charge of standards harmonization. He takes office at a time when Africa is pushing to increase intra-trade and deepen economic integration through the African Continental Free Trade Agreement (AfCFTA). “Our main objective is to leverage the image and position of ARSO and the ARSO Presidency to change the narrative by expanding intra-Africa trade within the purview of the AfCFTA, as well as to improve trading in Made in Africa goods locally, regionally and globally,” the new ARSO President said. Prof Dodoo emerged as the choice of all the member-states on the back of his vision to rapidly harmonize standards on the continent, while leveraging on the proximity of AfCFTA secretariat being in Accra to further the aims of ARSO. He promised that his tenure would focus on three key areas: partner global organizations such as the International Organization for Standardization to develop
standards, focus on key growth areas, and ensure ARSO plays a vital role in job creation. “We can no longer be standards takers but developers too. We will be part of the development process so that the standards meet our specifications,” Prof Dodoo said. In a brief remark, a Deputy Minister for Trade and Industry, Michael Okyere Baafi said the continent’s ambitious trade deal (AfCFTA) has magnified the need for standards to be regionally harmonized to promote intratrade. “ARSO has a huge task of ensuring that the AfCFTA is meaningful. And the only way we can increase intra-African trade is for us to harmonize our standards to facilitate cross-border trade. So therefore, the new leadership must work harder to change the narrative,” the New Juaben South lawmaker said. The clinical scientist, who doubles as ARSO’s Goodwill Ambassador to the AfCFTA secretariat, will serve between 2022 and 2025.
NEWS DESK REPORT
President Akufo-Addo to end 2nd-year stewardship as ECOWAS Chair Ghana will host the 61st Ordinary Session of the Authority of the ECOWAS Heads of State and Government in Accra on July 3, 2022 at the Kempinski Gold Coast Hotel. The Summit will mark the end of the second-year stewardship of President Akufo-Addo. President Nana Addo Dankwa Akufo-Addo, who is also the Chair of the Authority of the ECOWAS Heads of State and Government will host his colleagues 12 ECOWAS member states. President Akufo-Addo assumed the Chairmanship of ECOWAS on September 7, 2020 in Niamey, Niger after Mahamadou Issoufou, former President of Niger, had ended his stewardship. In June, 2021, the mandate of President Akufo-Addo was renewed by his peers for another one year based on his sterling leadership and to complete ongoing institutional reforms geared towards the reduction of the number of Statutory Appointees of the ECOWAS Commission from Fifteen (15) to Seven (7) as well as streamline operational cost. Among many others, the Summit would be dedicated to examining and taking decisions
on the political, security and humanitarian situations in the Region. Most notably, the Summit shall review the current state of affairs in Mali, Guinea and Burkina Faso, suspended from the organisation, following the unconstitutional changes of government in the three countries. Preceding the summit, the Minister of Foreign Affairs and Regional Integration and Chair of the ECOWAS Council of Ministers, Shirley Ayorkor Botchwey, will host her colleague Ministers of
Foreign Affairs and Defence and Security for the Mediation and Security Council Meeting in Accra on June 29, 2022 at the Movenpick Ambassador Hotel. The Mediation and Security Council Meeting shall provide updates on the political developments in the region, especially in Mali, Guinea and Burkina Faso, as well as, in the Sahel Region. They would also provide updates on the overall climate of insecurity, challenges relating to youth unemployment and the
impact of diseases and pandemics on social tensions in the Region. Ms Ayorkor Botchwey will also host her colleagues and Finance Ministers on Thursday, June 30, 2022 and Friday, July 1, 2022 in the ECOWAS Council of Ministers Meeting to, among others, discuss and make recommendations on the finance, administration, as well as, the programmes and activities of the ECOWAS institutions to the Authority of the ECOWAS Heads of State and Government for adoption.
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Jumia donates more than 400 helmets to its delivery associates to promote road safety Africa’s leading e-commerce platform, has donated more than 400 motorcycle helmets to its delivery associates (riders) in Ghana as part of its Safe and Affordable Helmet Programme with Federation Internationale de l’Automobile. This initiative comes at a time when the e-commerce ecosystem is celebrating its 10th anniversary. The UN ECE 22.05 Certified helmets were given to Jumia’s delivery associates to help them better protect themselves on the road in the wake of many road accidents suffered by motorists and other road users. These helmets have been designed to meet climatic conditions in Ghana and can provide safety for delivery associates for a long time to come. According to the National Road Safety Authority in Ghana, over 200 deaths occured between January and March 2022 resulting directly from motorbike accidents. This number is unfortunately expected to scale even higher as the number of motorists on Ghanaian streets increase exponentially. Jumia’s drive and commitment to ensuring the safety of all its workforce has resulted in this safety exercise. ‘’Our delivery associates have been at the forefront of providing safety to our consumers and sellers
the roads each day. In addition to the innovative techniques and technology, these helmets will provide extra protection for us. said Benjamin Bawa, Delivery Associate, Jumia Ghana. The helmets were donated to delivery agents who use motorbikes and e-bicycles daily to deliver packages and food to consumers. All these are in line with Jumia’s sustainability project which was outdoored in the company’s ESG Report earlier this year.
since the COVID-19 pandemic hit us. Selflessly, they delivered essential items and food orders safely and conveniently throughout the lockdown periods and beyond. It is our core responsibility to ensure that these heroes are also protected in their line of duty. Donating these safety helmets is just the first step in our quest to ensure that they are heavily protected on our roads. We also wish to use this initiative to drum home the importance of using helmets and other safety gear when riding. In the near future, we will also roll out licensing and insurance campaigns to sensitize all road users about the need for such actions’’ said Tolulope Thomas, CEO, Jumia Ghana.
Also speaking at the donation, Richmond Carlos Otu, The Country Manager of Jumia Services in Ghana said “Our delivery associates play a vital role in the e-commerce value chain. Without them, the entire process will be incomplete. Giving them these free helmets while educating them about the importance of road safety is just the beginning. Creating job opportunities for the youth such as we have done with these delivery associates is great, however the real responsibility lies in ensuring their safety and growth.’’ “It is very comforting to know that Jumia really cares about our safety and always provides measures to minimize the risks we face on
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| FEATURE
FRIDAY, JULY 1, 2022
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Europe’s fate and Ukraine’s survival By Carl Bildt
Russian President Vladimir Putin’s intentions in Ukraine are not in doubt. He wants to end its status as an independent political entity and incorporate its territory within the Russian Federation. In his opinion, achieving this goal would undo two great historical errors committed in the last century: first, allowing a Ukrainian republic to exist within the Soviet Union, and, second, allowing this republic to become an independent nation-state. How likely is this outcome? In theory, the Russian army could slog brutally across Ukraine’s vast plains for many years, reducing its urban centers to rubble. But one lesson from the areas Russia has managed to occupy since February 24 is that it also would need to establish a harsh regime of repression, forced Russification, and outright elimination of opponents. This would require a massive, widespread mobilization of resources in Russia. So far, Putin has been reluctant to order any such mobilization, or even to speak in terms of war. In the four months since the invasion began, the Russian people have been told that there is merely a “special military operation” in Ukraine. Additional army recruitment has largely come from Russia’s less developed areas, where high unemployment leaves young men with few
alternatives. In any case, intensified repression and increasingly hysterical propaganda would be necessary to sustain a wartime mobilization within Russia. The Kremlin’s messaging would most likely focus increasingly on establishing a narrative making the case for a necessary, righteous war with the entire West, which will duly be described as a cohort of Nazis bent on destroying Russia. Mounting Russian casualties – which are already higher than from the decade-long Soviet war in Afghanistan – will be a problem; but if recruitment efforts steer clear of major urban areas, it might be manageable. A fully mobilized Russia would be a country completely decoupled from the West. Since harsh sanctions will remain in place, Russian industry would be forced to climb down the technology ladder, putting a powerful brake on vast new oil and gas projects in the Arctic, where the Kremlin has staked the country’s economic future. Russia would have to become dramatically more dependent on China. But it is unclear how long the Chinese government would play along with a “rescue Russia” policy, nor is there any reason to believe that India would choose Russia over the United States as its technology partner for the
future. As the Kremlin’s intentions in Ukraine become clearer, any remaining international support is likely to dwindle further. Putin has set his country on a course that is highly problematic, if not utterly catastrophic. Meanwhile, with its recent decision to make Ukraine (and Moldova) a candidate for membership, the European Union has taken a huge strategic step that will have far-reaching implications in the years ahead. Whereas Putin radically escalated his efforts to eliminate Ukraine in February, the EU has now doubled down on supporting the country and helping it build a brighter future. Of course, formal Ukrainian membership is not imminent. While Ukraine made some progress by implementing an extensive free trade and association agreement with the EU in 2014, it still has a long way to go to meet all the requirements for membership. Nonetheless, by inviting Ukraine to join, the EU has committed itself to upholding the survival of the Ukrainian state in the face of the Russian onslaught. Apart from the military assistance now flowing in, this will require very substantial financial support for as long as Russia’s aggression continues. War is expensive.1 Europe has made the right move. The unraveling and
eventual elimination of a European state would threaten all Europeans’ security, not to mention undermining global stability and opening a Pandora’s box of other issues. Are there any other borders in the vast space between the Vistula and Volga rivers where borders could be moved or eliminated, as they have many times before in history? Are there other states that could be eliminated from the roster of United Nations members? These are not idle questions. Putin has already indicated that he thinks as little of Kazakhstan’s sovereignty as he does of Ukraine’s. The EU has made clear that it intends to stand firm in defense of existing states, recognizing that the inviolability of borders is the foundation of European security and global order. It therefore must be firm in not recognizing any Russian-occupied territory – including Crimea. It is now simply inconceivable that the EU will accept Ukraine’s violent dismemberment or elimination. The question, then, is whether Putin can agree to back down, or whether regime change or state collapse will be required to bring about a similar outcome. That is fundamentally where the aggressive war that Putin launched on February 24 is bound to lead.
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FRIDAY, JULY 1, 2022
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CIMG holds 32nd Annual General Meeting
The Chartered Institute of Marketing, Ghana (CIMG) held its 32nd Annual General Meeting (AGM) on Thursday, June 23, 2022, at the Golden Tulip Hotel, Accra, Ghana. This was the first AGM following the passage of CIMG Act, 2020 (Act1021) and the subsequent inauguration of the Institute’s new Governing Council on March 21, 2022. The National President of the CIMG, Dr. Daniel Kasser Tee, gave an account of the stewardship of the previous Governing Council, for the year under review, 2021. In his remarks, the National President congratulated members of new Governing Council on their appointment by His Excellency the President of the republic, which he said was in accordance with Article 70 of Ghana’s 1992 constitution. He pledged the continual pursuance of the Council’s 7-point agenda in ensuring all existing and ongoing projects were carried through. The National President reiterated the decision of the Governing Council about “advocacy on marketing-related matters” which will be “based on scientific research”. He highlighted, particularly, the commissioning of the Ghana Customer Satisfaction Index
(CIMG-CSI) in April 2021 for the Banking Industry, which was launched in September 2021. “Following the success of the maiden project, plans are far advanced to conduct similar surveys for other sectors (Insurance (life and general business), Banking (consumer and business banking), Hotels, Private Health Facilities, Business Schools”, he further stressed. The National President was particularly enthused about the commissioning of the Ghana Regional Brand Index (CIMGRBI), which is scheduled to start next week across all sixteen (16) regions of Ghana. He indicated that the two surveys, CIMG-CSI and the CIMG-RBI, would be done and published annually. Dr. Kasser Tee highlighted the Institute’s reliance on partnerships and collaborations with the corporate world and other professional bodies, both home and abroad, leading to some landmark achievements. He also mentioned that the Institute was putting in efforts on membership drive, via collaborations with traditional and technical universities as well as other colleges for the Professional Marketing Qualifications (PMQ). These collaborations are “all geared towards driving
membership and obtaining their buy-in in rolling out the PMQ on their various campuses and across all regions of Ghana”. The National President expressed special appreciation to two personalities whose outstanding work ethics and contributions had impacted the growth of the Institute; Dr. Dr. Francis Mensah Sasraku and Mr. Adam Sulley, whose experience from academia and industry, he said, cannot be underrated. This is a result of their unrivalled contributions at engaging numerous stakeholders, all towards whipping up interest in the PMQ programme. The evening also witnessed the swearing in of various committees to support the work of the Governing Council, a practice the institute has adopted to promote good corporate governance practices. Amongst the Committees sworn into office were the Awards Planning & Selection Committee, Building Committee, E t h i c s / D i s c i p l i n a r y/ L e g a l Committee, Publicity Committee, Membership Committee, Finance & Administration Committee, and the Education and Student Affairs Committee. The Committees are mandated to serve for a period of three years each. In his concluding remarks, the
National President acknowledged the Governing Council and the various committees for their support as well as the Registrar/ CEO of the Institute for their sterling performance in the year under review. He finally thanked the entire membership for their relentless support to the Institute for the past year. The night was filled with excitement as the immediate past Governing Council were recognised for their endless contributions and exceptional performance in 2021 with parting gifts from the Institute in collaboration with some corporate organisations. The outgone council members each received GHS2,000 worth of fuel from GOIL, a Chesterfield single furniture and Ottoman table from Latex Foam valued at GHS2,000 each, a €1,000 discount on the iconic Peugeot 3008 SUV from Silver Star Auto Limited. Three special personalities, Mrs Agnes Essah, Ms Doris Kuwornu and Dr Annie Babah-Alargi were additionally given a weekendstay-for-two at the Elmina Beach Resort, a weekend-stay-for-two at the Golden Tulip Hotel and a dinner-for-two at the Golden Tulip Hotel respectively.
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Ghana Post meets leadership of Royal Mail to explore areas of collaboration The management of Ghana Post and its strategic partners, Three Turns Shipping have met with the management of the United Kingdom’s postal giants, Royal Mail, to explore possible areas of collaboration and consolidation. The MD of Ghana Post, Bice Osei Kuffour, said the visit was amazing as it offered the opportunity for the Ghana Post team to experience how efficient the Royal Mail is and how the company has leapfrogged its challenges in its 500 years of operations. He expressed the desire to build the needed partnerships with market leaders, share knowledge and experiences and learn best practices while looking at innovative ways of delivering world-class services to Ghana Post customers. He said a tour of the Royal Mail state-of-the-art facility presents a great source of inspiration and opportunity for Ghana Post to learn best practices from industry players with a distinguished track record. “Ghana Post being the most reliable service provider in the areas of postal, courier and e-commerce services and one of the best in the West Africa sub region stands to gain a lot from the Royal Mail partnership regarding investment in new areas of the
postal value chain and the use of automation for an enhanced and efficient operation.” Among other strategic alliances, Osei Kuffour proposed exchanges between the two organisations permitting Ghana Post staff to embark on practical training attachments with Royal Mail, whilst very experienced present and former members of staff of the Royal Mail offer consultancy to Ghana Post. The Ghana Post team discussed possible areas of expertise and asked for technical assistance in the development of current processes to offer matchless mail service delivery in the sub region. The Royal Mail has moved from operating manually to automating its processes and operations with a key focus on the use of technology. It has progressed from an initial manual operation to state-of-theart technology postal services. Even though Royal Mail and Ghana Post are both members of the Universal Postal Union, this is the very first time a Managing Director of Ghana Post is paying a working visit to the global postal giants Royal Mail, founded in 1516. Royal Mail’s use of technology enables it to process up to 40,000 letters a day at its Mount Pleasant Mail Centre alone, the largest in London - by using its Intelligent
Letter Sorting Machines. With the surge in online retail sales, the Royal Mail is seeing a bigger drive for parcel services and is currently processing up to 800,000 parcels a day in its Warrington super hub. Representing Royal Mail at the meeting included Nick Landon, CCO Royal Mail, Antony Harvey, International Managing Director, Ben Holmes, Head of International Relations, Eric Ashiagbor London Jubilee Plant Manager, Jay Brooks, London Mount Pleasant Manager and Kevin Cooper, Head of Processing. The Ghana Post team included Bice Osei Kuffour, CEO, Robert Aseidu, Head of International Affairs, Nana Yaw Osei-Darkwa, Head of Government Business and External Relations, Hanson Owusu, CEO of Three Turns Shipping and Kwesi Gyesi, MD,
TTL Belgium). The CEO of Royal Mail, Simon Thompson said his team was very excited and impressed by the enthusiasm and deliberateness of Ghana Post in engaging Royal Mail for purposes of working exchange for knowledge transfer. The visit was facilitated by Odana Consult a subsidiary of Grow, Unite and Build Africa (GUBA) Enterprise, UK. “The visit as facilitated by GUBA, among other things, is part of the agenda of ensuring synergy between indigenous Ghanaian companies and similar counterparts in Europe and the USA in possible areas of collaboration, knowledge acquisition and for technical assistance,” the CEO and President of GUBA Enterprise, Dentaa Amoateng said.
Star Assurance sensitises employers on Workers’ Compensation Insurance Star Assurance Company Limited has urged employers to protect their staff who may be injured or become ill at work by signing up for the Workmen’s Compensation Insurance Policy. The policy which derives from the Workmen’s Compensation Act, 1987, PNDC Law 187, covers death, diseases, illness and injury sustained by employees arising out of and during the course of work. The law states that employees should be mandatorily compensated in the unfortunate event of injury arising out of work. According to Star Assurance, this policy provides that the amount payable in the event of work mishap could be quite substantial; up to a monthly income of 96 months in the event of permanent disability and up to a monthly income of 60 months in case of death.
Speaking to a cross-section of the company’s stakeholders at the June, 2022 edition of its Stakeholder Engagement Series, Mr. Michael Adomako, the Product Development Manager said an injured employee should not suffer a diminution in earnings while he or she undergoes treatment for injuries sustained through an accident arising out of, and in the course of employment. “Even in the unfortunate event where the injury results in death or serious and permanent incapacity, the policy provides for a capital sum for the dependents /beneficiaries of the employee,” Mr. Adomako said. “Indeed, the Workmen’s Compensation Insurance Policy is a win-win for both Employer and Employee as the employer is protected from civil suits from its workers who become injured on the job,” he added. The Stakeholder Engagement
Series is part of the company’s effort to educate the general public on the crucial role insurance plays in alleviating people’s fear of sudden misfortune by mitigating loss through services and /or
financial compensation. By extension, it contributes to the social protection of citizens by enhancing their financial security and peace of mind.
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FRIDAY, JULY 1, 2022
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The European war project By Mark Leonard
For seven decades, European integration has been driven by the quest for peace. But since Russia’s invasion of Ukraine on February 24, Europe has found itself unifying in response to war. The peace project has given way to a war project, and this fundamental shift is forcing European governments to reconsider some of their longest-held principles. Most obviously, they now must concern themselves with hard power. There has been much discussion about German rearmament, Denmark’s decision to participate in European joint defense arrangements, and Sweden and Finland’s bid for NATO membership. Taboos have been broken, with European Union member states sending heavy weapons to Ukraine and the EU’s “peace facility” pledging €2 billion ($2.1 billion) to arm that beleaguered country. Moreover, the EU has fashioned its economy into a weapon to use against Russia, and it is now planning for a war economy, where security will take priority over efficiency. A second major change is that Europeans must rethink interdependence. European integration previously reflected the belief that economic links between countries would create a foundation for political reconciliation. That was the idea behind the original European Coal and Steel Community (the precursor to the EU), which turned former enemies into friends by merging the national industries that had produced the munitions for World War II. The hope was that even if economic links between countries did not make war impossible, they would at least prevent a dangerous escalation in tensions. But Russia’s invasion
made a mockery of this idea, demonstrating that interdependence can also enable one party to blackmail the other. This realization came hot on the heels of worries about “mask diplomacy” and “vaccine nationalism” during the COVID-19 pandemic, when many countries found themselves wholly reliant on others for critical supplies. It follows that Europe’s decoupling from Russian energy will also be accompanied by efforts to make Europe less dependent on China. A third question involves the concept of sovereignty. For the past few decades, Europeans were mainly focused on taming this impulse in the name of supranational cooperation. But faced with an aggressive revisionist power, they now recognize that sovereignty must be protected before it can be pooled. For its part, Russia has perverted the post-sovereigntist rhetoric used by Europeans during the Balkan wars to justify its own invasion of Ukraine, which it cynically describes as a mission to protect Russian speakers from genocide. In the 1990s, Europeans advanced the “postmodern” idea that if there were massive abuses of universal human rights (those recognized by the United Nations) taking place within a sovereign country, the international community had a duty to step in to protect the victims from their own government. The Russian variant of the “responsibility to protect” is not postmodern but pre-modern. The Kremlin believes it can decide unilaterally to intervene in other countries to protect members of a loosely defined Russian civilization. Saudi Arabia has used a similar doctrine to justify its
interventions to protect Sunnis in Yemen, as has Iran with respect to Shias in Syria. And, of course, many worry that China will adopt similar reasoning to launch an invasion of Taiwan. Earlier generations of Western leaders were wrong to assume that only their countries would ever be strong enough to override others’ sovereignty. A fourth issue is the supposed universalism of the European project. In the early 2000s, I wrote a book titled Why Europe Will Run the 21st Century. I believed that the EU’s model of international cooperation would spread osmotically to all corners of the world. But the failure of the EU enlargement process in Turkey and the rise of a revanchist Russia have shown that the EU model is unlikely even to encompass all of Europe, let alone the whole planet. In discussions with leaders from Asia, Africa, and the Middle East, I have been struck by how few of them share the intense moral outrage that characterizes the West’s response to Russia’s invasion. They see the conflict as a regional European conflict, rather than as a world war with which they should be concerned. Eurocentrism has not only led Europeans to misread leaders such as Russian President Vladimir Putin and Turkish President Recep Tayyip Erdoğan; it also is hindering Europe’s appeals to the rest of the world. To correct course, European leaders must recognize that the EU experience is an exceptional product of a particular history and geography, and they must demonstrate enough curiosity to understand the world through others’ eyes. In a paradoxical way, decentering Europe could be the
necessary first step to exercising European power in a multipolar world. A fifth principle that needs rethinking is the idea of political order. While some European leaders cling to a security framework that reflects the principles of the post-Cold War moment, the hard truth is that Europe’s unique order – based on a set of institutions and treaties – has already been destroyed. In the future, European security will look much more like that of other regions, such as Asia. The balance of power and military might will matter as much as any treaties between Europeans and Russians. The United States, of course, will remain engaged in the region. But much of the action will come from a lattice of bilateral and limited security arrangements. And even if the fighting in Ukraine ends, it will not give way to peace. The danger of cyberattacks, energy cutoffs, election interference, and Russia’s “little green men” will be permanent features of Europe’s new age of unpeace. The Ukraine war will remake Europe. This does not mean that Europeans must abandon the idealism and creativity that drove the most successful peace project in history. But they must accept that their model will never be universal, that they will increasingly find themselves responding to decisions made by others, and that peace at home may depend on their willingness to countenance war elsewhere. From now on, European integration will be driven by the need to win in a dangerous world, rather than by the desire to avoid conflict.
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FRIDAY, JULY 1, 2022
UG-SRC to host Skill-Up for Jobs Bootcamp 2022 The UG-SRC under the 20212022 leadership in collaboration with Global Entrepreneurship Network-Ghana (GEN-Ghana) will organise the maiden, UG-SRC Skill-UP for Jobs Bootcamp which is slated for mid-July - August 2022. The UG-SRC Skill-UP for Jobs Bootcamp project is an experiential training and exposure programme that has been designed to train, inspire, and equip 1000 students with job creation skills. It is intended to be a weekend training programme over a one-month duration comprising in-person practical skills sessions that will focus on sequential employability skills in selected disciplines. The participants will be coached to apply and showcase the acquired skill in microprojects at the end of the training as a prototype on proof of concepts. Experts from industry have been poached to mentor the participants on their microprojects. The bootcamp training programme will be climaxed with a Skills for Job Summit, where students will have the opportunity to ask questions from industry experts on the skills needed for emerging jobs of the future. This will motivate students to appreciate skills training at first hand. The goals of this studentinitiated project include to: • Bridge the entrepreneurial skills gap of students • Respond to the changing employment situation by encouraging initiative • Create an enterprise culture and stimulate entrepreneurial activity • Increase the rate at which
students participate in experiential learning • Provide insights and connections for students to be part of mentoring networks Features: • The programme will feature practical masterclass Skills training • Skills for Jobs Summit and Expo event. • Affirmative action for gender and persons with special needs will be considered Four Key Practical Skills Training Clusters which advance the targets of the UN agenda 2030 (SDGs) have been selected. These include Creative Arts, Food Business and Agribusiness, Digital and Tech Skills and Micro Manufacturing. “Young people continue to be the hardest hit by the job crisis. There are multiple and complex causes behind youth unemployability. Young people often have little or no labour market experience, and frequently lack relevant skills. The challenge of quality and relevance of the skill acquired in formal education can be harnessed by the UG-SRC through the Skill-UP Bootcamp as an added specialised experiential learning during the students stay on UG campus. Of the two routes for the youth to enter employment, the labourmarket training is being adopted due to its mass accessibility and cost effectiveness than work experience programmes at workplaces,” says Prince Asumadu, President UG-SRC 20212022. “GEN-Ghana is very thrilled and delighted to be working with UG SRC 2021-22 leadership to implement this project at the University of Ghana. We
call on corporate organisations, development agencies, public sector institutions and the UG community to support this project The Expected Outcomes include: • Participants will be exposed to job creation opportunities • Participants will create new business & new markets • 1000 students will be directly trained and equipped with job skills • Contribute to the Ghana’s achievements of the UN Sustainable Development Goals • Provide students with lifelong skills and experiences to thrive economically whilst helping Ghana to prosper • Interactions with mentors will influence student perspectives on the possibilities open to them after graduation • Participants will appreciate work and its function in the economy “Participants will develop work habits and attitudes necessary for job success,” says Stephen GyasiKwaw, Country Founder/ MD (GEN-Ghana) UG-SRC The Students’ Representative Council (SRC) is the umbrella body of all undergraduate students at the University of Ghana, Legon. The SRC as the official mouthpiece of the entire student body advocates for the interests of students and fosters their welfare as well. The SRC communicates the interests of students to authorities and represents the student populace on the university council and other boards. Also, it coordinates the activities
of academic, cultural, religious, political and recreational clubs and societies. The SRC also fosters good relations between students of the University and the outside world by coordinating with other student organisations in Ghana and elsewhere in matters of mutual interest. In recent times, the SRC has assumed more prominently the added role of being development partners of the university and the Ghanaian society at large. GEN-Ghana Global Entrepreneurship Network – Ghana (GEN-Ghana) is an entrepreneurship and innovation advancement organisation that provides and promotes a platform of local, / international programmes and activities aimed at making it easier for anyone to start and scale a sustainable business. We work by fostering deeper cross border collaboration and initiatives between entrepreneurs, investors, researchers, policymakers and entrepreneurial support organisations. We work with government, corporations, NGO’s, development agencies to fuel healthier start and scale ecosystems that create more jobs, wealth, educate individuals, accelerate innovations for sustainable social and economic impact. GEN-Ghana is a company limited by guarantee under the laws of Ghana, registered in March 2010. We are a member of Global Entrepreneurship Network which operates in over 160 countries independently, working to build one entrepreneurial ecosystem around the world.
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| AFRICA BUSINESS
FRIDAY, JULY 1, 2022
Rwanda’s Toto Safi and Nigeria’s Well of Science among finalists in £1.1m Afri-Plastics Challenge • Ten (10) finalists of the second Afri-Plastic Challenge strand – ‘Creating Solutions’ – have been named. • Reusable shopping bags and sterilised cloth diapers are among the key innovations. • Finalists were drawn from Rwanda, Kenya, Ghana, South Africa, Uganda and Nigeria. • The second strand of the Afri-Plastics Challenge is supporting sustainable solutions for reducing the reliance on plastic waste. 0900, 30 June 2022 ( Johannesburg, South Africa) – Ten (10) teams of innovators from across Sub-Saharan Africa have been named finalists in the AfriPlastics Challenge with solutions for reducing plastic usage. Each will receive £75 000 to invest in and develop their ideas. The winner will take home a first prize of £750 000 in January 2023, with the runner-up receiving £250 000 and third place winning £100 000. They include projects to facilitate the reduction of singleuse disposable diapers. One such project is Toto Safi, a solution from Rwanda. Toto Safi’s appbased service facilitates the reduction of single-use disposable diapers, a major source of land and marine pollution. Through this app, parents will be able to receive a fresh bundle of clean and sterilised cloth diapers, at an affordable cost. Another solution is ShoppersBag, a solution by Well of Science from Nigeria. ShoppersBags are reusable, recyclable and biodegradable bags that allow people to get paid or earn rewards on every usage Other teams in the running include South Africa’s Regenize and the Uganda Industrial Research Institute. Regenize’s Zero-Waste Spaza can plug into any existing spaza shop and enables it to become a zero-waste shop where their customers can shop without creating plastic waste. The customers will need to bring their containers to purchase goods supplied by Regenize and stored in secured food-safe containers. Besides reducing plastic waste, it will also enable customers to live a healthier lifestyle. On its part, the Uganda Industrial Research Institute manufactures biodegradable and biocompostable paper packaging bags from the long wasted agricultural fibres of the banana pseudo-stem, sugarcane bagasse, all cereal crop straw (rice, maize and wheat), cotton waste/rags, and pineapple crowns, among others, as an alternative product to reduce the usage of the polythene bag. The Afri-Plastics Challenge, from innovation experts
Challenge Works and funded by the Government of Canada, is rewarding the most promising Sub-Saharan African innovators working in the circular economy to develop ideas that will tackle the worrying rise in plastic pollution across the continent and in its marine environment. Canada is a leader on the world stage through ongoing work to champion the Ocean Plastics Charter and membership in the Ocean Decade Alliance. With the longest coastline in the world and one quarter of the world’s fresh water, Canada is uniquely positioned to lead in reducing plastic pollution and protecting ocean health. The government will continue to work with partners at home and around the world to protect the environment and build a healthy future for generations to come. Tackling plastic pollution through three prize strands, the finalists in the second strand – Creating Solutions – announced today are being supported to develop innovative products that specifically reduce the volumes of plastic entering the value chain through ingenious and novel approaches. Honourable Harjit Sajjan, Minister of International Development, Government of Canada, said: “We must urgently reduce plastic usage worldwide. It’s clear that increasing pollution levels are devastating our shared environment. The finalists announced today in the Afri-Plastics Challenge demonstrate innovation and African entrepreneurialism at its best. I can’t wait to see how the innovative solutions proposed will reduce plastic usage and benefit the whole world.” Constance Agyeman, Director of International Development, Challenge Works, said: “Eradication of the plastic waste menace in the environment is critical to ensure resilient, sustainable communities. This calls for new solutions that go beyond traditional thinking. Today’s finalists are leading the way in dramatically reducing the volumes of plastic entering the economy to bear down on the avalanche of plastic waste that is engulfing Africa and its precious marine ecosystems.” Having made their way through the semi-final round, each finalist has already received grants of £25 000 to develop their ideas. The 10 finalists will now receive a further £75 000 each to further advance and implement their solutions tackling the elimination of plastic usage across Sub-Saharan Africa. The successful communitycentred products and services have demonstrated a sustainable
approach to reducing the reliance on plastic that also supports the empowerment of women and girls. The Afri-Plastics Challenge’s goal is that the development of the innovators’ solutions will encourage the creation of new, sustainable local enterprises, bringing economic opportunity to communities, while creating solutions with application across Sub-Saharan Africa and around the world. To find out more about the Afri-Plastics Challenge and the 10 finalists in the Creating Solutions strand, please visit afri-plastics. challenges.org -ENDSFor media enquiries please contact Brian Leputu, Africa Communications Group on brian@ africacommunicationsgroup. com, +2772 525 3472 About the Afri-Plastics Challenge The Afri-Plastics Challenge, run by London-based innovation experts Challenge Works, is tackling the scourge of plastic pollution in Sub-Saharan Africa thanks to funding from the Government of Canada. The challenge comprises three strands to take on the problem on multiple fronts. • Strand 1 – Accelerating Growth – finalists announced in February 2022 – is rewarding innovative solutions to managing plastic waste after it has been used and discarded (i.e. downstream solutions) – £1m first prize • Strand 2 – Creating Solutions – finalists announced today – is rewarding innovative solutions to reducing the volume of plastic in packaging and other products before it is used (i.e. upstream solutions) – first prize £750 000 • Strand 3 – Promoting Change – finalists to be announced next month – is seeking creative campaigns and projects to influence behaviour change among individuals and communities to promote sustainable consumption around plastic – three prizes of £250 000 The 10 finalists in the AfriPlastics Challenge Creating Solutions strand • Naza Agape Foundation, Nigeria Naza Agape Foundation uses an innovative, ecofriendly approach to produce affordable and biodegradable sanitary pads that are made using banana fibre, a plant product that is an ideal substitute for the polypropylene used in conventional pads. • Chemolex, Kenya
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Chemolex’s Biopactic solution is a recyclable, reusable and 100% biodegradable nextgeneration material that replaces the use of single-use plastic polymers in food and product packaging as well as in manufacturing diapers. The biopactic material is a bio-based material that is produced from invasive water hyacinth plants that grow aggressively in Lake Victoria in Kenya. Uganda Industrial Research Institute (UIRI), Uganda Uganda Industrial Research Institute manufactures biodegradable and biocompostable paper packaging bags from the long wasted agricultural fibres of the banana pseudostem, sugarcane bagasse, cereal crop straw (rice, maize and wheat), cotton waste / rags, and pineapple crowns, among others, as an alternative product to reduce the usage of the polythene bag. SHE ECO RESPONSE, South Africa She Eco Response has developed the Wash, Hang and Store Kit, designed to reduce the stigma around reusable menstrual pads across Sub-Saharan Africa. Their kit consists of a washing board and a brush that will help women and girls rinse and wash the pads without twisting or tampering with the underlayer too much. This kit will encourage more women and girls to consider green menstruation across Sub-Saharan Africa. Toto Safi, Rwanda Toto Safi’s app-based service offers reusable cloth diapers as a service so that parents do not have to choose between convenience and pollution. For many parents, reusable nappies are neither affordable nor convenient as they may lack adequate washing and drying facilities or are put off by upfront costs. This service is therefore reducing singleuse disposable diapers, which are a major source of land and marine pollution. Lwanda Biotech, Kenya Biotic is a sustainably sourced, bio-based, biodegradable bioplastic derived from blending fibre composites of agricultural waste/feedstock with a nontoxic, inert plasticiser. It looks, feels and functions like petroleum-derived plastic. Biotic is a direct dropin replacement for plastic designed to fit into existing production infrastructure without requiring design
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modifications for particular use cases. Thus, it provides a sustainable approach to the elimination of plastic usage through direct substitution. • Regenize, South Africa • Regenize, through ZeroWaste Spaza (ZWS), can plug into any existing informal shop and enables it to become a zero-waste shop where customers can shop without creating plastic waste. The customers will need to bring their containers to purchase goods supplied and stored in secured food-safe containers. Besides reducing plastic waste, it will also enable customers to live a healthier lifestyle. • EcoCoCo Homecare, Kenya coCoCo Homecare is spearheading the development of a range of multi-purpose everyday homecare products made from compostable natural coconut fibre. These will include scouring pads, scrubbing brushes and brooms with coconut fibre bristles. The coconut husk fibre is the outside of the coconut and is considered
| NEWS
waste from coconut consumption and oil production. The bodies and handles of the brushes and brooms will be made from wood offcuts recycled from timber yards and commercial carpentry. • Well of Science, Nigeria ShoppersBag is a web and mobile app powering a community of shoppers, shopping malls, eco friendly bag producers and brands to reduce the usage and disposal of single-use plastics. The app allows users to earn rewards every time the bags are used. • Derocolbags Packaging Limited Company, Ghana Dercolbags Packaging Limited Company is developing a unique package-as-a-service system that educates households, communities and restaurants. They encourage exchange of packaging containers to reduce and eventually eliminate the use of styrofoams. Their Smartpacks will be distributed to participating restaurants, and participating households will receive their
FRIDAY, JULY 1, 2022
foods in the Smartpacks, while couriers will pick up used and washed Smartpack, which will be disinfected and cleaned for delivery to restaurants. About Challenge Works Challenge Works is the new name of Nesta Challenges. We are a social enterprise founded by the UK’s innovation agency Nesta. For a decade, we have established ourselves as a global leader in the design and delivery of high-impact challenge prizes that incentivise cutting-edge innovation for social good. In the last 10 years, we have run more than 80 prizes, distributed £84 million in funding and engaged with 12,000 innovators. The world finds itself at a critical juncture. Together, we face multiple compounding problems, but there is enormous opportunity to discover solutions and expand innovation frontiers. The impact of climate change is felt more harshly by the year, but innovation can mitigate this impact; the growth of chronic health conditions and the widening global inequity in access to healthcare can be reversed; an ever more complex, connected
and digitally driven world poses a multiplicity of societal challenges but also makes rapid, positive, life-changing technological change possible - if harnessed and directed properly. We believe no challenge is unsolvable. Challenge Works partners with organisations, charities and governments around the globe to unearth the entrepreneurs and their innovations that can solve the greatest challenges of our time. Challenge prizes champion open innovation through competition. We specify a problem that needs solving, but not what the solution should be. We offer large cash incentives to encourage diverse innovators to apply their ingenuity to solving the problem. The most promising solutions are rewarded with seed funding and expert capacity building support, so that they can prove their impact and effectiveness. The first or best innovation to solve the problem wins. This approach levels the playing field for unknown and previously untested innovators so that the best ideas, no matter their origin, are brought to bear on the most difficult of global challenges.
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| FEATURE
FRIDAY, JULY 1, 2022
Zongovation Hub gets support from Allied Consortiums Zongovation Hub – a nongo v e r n m e n t a l - o r g a n i z a t i o n (NGO) that provides skills training in Information Communication Technology (ICT) for the youth, has received financial support from Allied Consortiums, a South African based civil engineering company with branches in Ghana. Zongovation Hub, on Monday, received a cash donation of GHC30,000 from Allied Consortiums, to help in the execution of their training activities for the youth in the country. Zongovation, an NGO formed in 2018, has over the years trained over 500 young men and women in website development, mobile
app development, digitized media, codding, data management and other ICT related activities. Mr. Benjamin Kofi Quashie Group Chairman of Allied Consortiums, said they were motivated to support the Hub, because they understand their vision and mission. He said the gesture was also part of their efforts to support social development in the country, hence the decision to provide financial support to the Hub to help in the execution of their activities. Mr. Quashie said they would continue to support the activities of the Hub, in future endeavours having opened a branch in Ghana.
Mr. Isaac Kwame Penni Chief Executive Officer of Allied Consortiums commended the Hub for the support they have given to the youth of the country. He added that, plans were in place for further support for them, a way of curbing social vices in the country. Mrs. Nonkazimulo Quashie -Administrative Director of Allied Consortiums who presented the Cheque to the NGO urged the youth to take advantage of the training opportunities at the Hub to develop their skills. This is because the world is now driven by ICT and failure to make use of the opportunity would be to their disadvantage.
Mrs. Nonkazimulo Quashie -Administrative Director of Allied Consortiums presenting Cheque to a representative of Zongovation Hub
Mr. Alhassan Khalid Director of Finance and Administration expressed appreciation to Allied Consortiums for supporting his outfit. According to Mr. Khalid they could have supported more young people to acquire ICT skills, but were constrained by financial resources, hence the support had come at a perfect time. He said, the funds would be put to judicious use as they seek to train more young men and women to be financially independent. Allied Consortium operates in the area of civil engineering, construction, real estate, mining, ICT services, and oil and gas.
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| NEWS
FRIDAY, JULY 1, 2022
Government is focused on enhancing workers prospects for re-entry into the labour market—Ken Ofori-Atta Minister for Finance, Ken OforiAtta has stated government’s plan to ensure smooth re-entry of current cohort of workers who lost their employment or were under-employed because of the COVID-19 pandemic into the labour market. He said that, for the workers to gain the higher levels of productivity and performance, they needed to go through vocational, technical, and professional training and retraining. Mr. Ofori-Atta made this known when he launched the Training and Retraining Programme Component of the National Unemployment Insurance Scheme (NUIS) under the Ghana CARES Programme. The Programme is being piloted by the Ministry of Finance and Ministry of Employment & Labour Relations in collaboration with the Social Partnership Council. The Minister revealed that, “while Ghana largely avoided serious health ramifications of the COVID-19 pandemic, a major outcome of the pandemic was the unprecedented levels of unemployment and joblessness recorded”. “Ladies and Gentlemen, as we are now well aware, the COVID-19 pandemic impacted negatively on all sectors of the economy but more so on the Tourism and Hospitality Sector and Private Education Sector” he added. The NUIS which is currently in the design phase is a social
insurance scheme conceived primarily as a contributory scheme with defined benefit for the sole purpose of providing income support and reemployment services to workers who involuntarily become unemployed due to unexpected future events such as COVID-19 pandemic and meet specified eligibility criteria. The Training and Retraining Programme was developed through extensive consultations between government and key stakeholders comprising of representatives from Ministry Finance, Ministry of Employment & Labour Relations, Organized Labour, and Ghana Employers Association. Other stakeholders include the Ministry of Education, Ministry of Tourism, Arts and Culture, Ghana Education Service, Ghana Tourism Authority (GTA), Council for Technical and Vocational Education and Training (COTVET), Ghana National Association of Private Schools (GNAPS), Ghana National Council of Private Schools (GNACOPS), Ghana Tourism Federation (GHATOF), among others. “The NUIS is housed under the Ghs100 billion “Obaatan Pa” GhanaCARES Programme designed to mitigate the impact of the COVID-19 pandemic, return the economy to a sustained path of robust growth, and create a more resilient and transformed economy” he stressed. He revealed that the Training
and Retraining Programme will be executed in two phases, with the first focusing on workers in the sectors most hit by the epidemic, which included the Private Education Sector and the Tourism and Hospitality Sector. The second phase, he stated would cover other sectors of the economy with emphasis on vocational and technical training. He further disclosed that government would fund the cost of the Programme and pay the fees of workers who enroll in the programme. He reaffirmed the government’s commitment to implementing the necessary programmes and policies that would have significant longterm advantages for Ghanaian workers, notwithstanding the difficult times the economy was experiencing because of global shocks and domestic changes. On his part, the Minister for Employment and Labour Relations, Hon. Ignatius Baffour Awuah disclosed that, the areas of hospitality and education were hardest hit by COVID-19 in terms of impact on the Labour market. This he stated, was one of the many reasons why government decided to commence with interventions in those sectors and hinted that there were plans in place to expand the programme for other sectors to be roped in. Dr. Patrick Nomo, Chairman of the National Unemployment Insurance Scheme and Training and Retraining Programme
Technical Committee and Chief Director of the Ministry of Finance, revealed that the team tasked with overseeing the programmes’ implementation had engaged relevant stakeholders in the tourism and hospitality and Private Education sectors. He gave assurance that, the relevant course modules and all the other roll-out of the programme had been completed and reiterated the Minister for Finance’s comment that, the Training and Retraining programme was essential to building and sustaining competencies for the everchanging labour market. Present at the meeting were representative from Ministry of Employment and Labour Relations, Ghana Tourism Authority, Organized Labour, Ghana Employers Association, Ghana Association of Industries (AGI), Ghana Tourism Federation (GHATOF), Institute of Education, University of Cape Coast and Ghana National Council of Private Schools (GNACOPS)’ The rest are, Ghana Institute of Management and Public Administration (GIMPA), Hotel, Catering and Tourism Training Institute (HOTCATT), Koforidua Technical University, Tamale Technical University, Crystal Galaxy, Hospitality and Tourism Centre of Excellence (HTCE), and Management Development and Productivity Institute (MDPI).
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| NEWS
FRIDAY, JULY 1, 2022
Will Ghana attract two million tourists by 2024? By Philip Gebu
The President of the republic of Ghana Nana Addo Dankwa Akufo-Addo has officially opened the National Museum Gallery which was closed for refurbishment in 2015. Prior to its closure, a Business &Financial Times reportage informed us all that both local and foreign tourists were shunning museums in the country due to their poor state and inadequate artefacts – with one Ghanaian visitor to the National Museum calling it a “national disgrace” “The national museum is a disgrace to the nation for such an educational edifice to be neglected. Many of the things in there are so primitive and only highlight certain cultures, and that does not speak well of us’. Fortunately, government decided to refurbish the museum and it is back to its best. The facility, located on the premises of the Ghana Museums and Monuments Board in Adabraka, Accra, had not seen any major refurbishment since it was first opened in 1957 in commemoration of Ghana’s Independence Day. Some additions have been made to the already existing things to see. Let’s all take for hours off and visit the National Museum. That will also be our little way of supporting domestic tourism. During the launch, The President challenged the Ministry of Tourism and Creative Arts and it implementing agencies to work towards achieving 2 million international arrivals by 2024, with expected revenue of $4 billion by the year 2024. This is indeed a daunting task put upon the ministry. Less than two years to work towards doubling the numbers we enjoyed prior to COVID-19 pandemic. No matter how ambitious this target may be, I’m somehow skeptical this target may be achieved. Below are some of the possible reasons. 1. We have been affected by COVID-19 pandemic since 2019 and a rebound is just on the horizon. Tourism expects predicted that the rebound may not really take place until the middle of 2023. The COVID-19 pandemic reduced international travel by 80 % according to figures provided by UNWTO. A vaccine has been put in place and tourists are gradually gaining confidence and many nations have come to accept the fact that we may have to live with COVID-19. Many international tourists may still not perceive Africa and Ghana as the safest place to visit yet and may prefer taking tours closer
to them despite a vaccine being in place. A reasonable alternative is intra-Africa tourism which is still not very successful on the continent and there are many reasons. One which comes to mind immediately is the fact that there is still a large part of the population struggling to make ends meet and are unable to earn a discretionary income. Tourism is perceived as an expensive activity on the continent and that may deterred many Africans. Africa’s working class do not also enjoy paid up holidays entitlements as part of their working conditions. 2. With international growing economic hardship and the increases in fuel prices globally, I cannot foresee a drastic increase in the number of arrivals in Ghana. According to statistics from UNWTO, Africa enjoyed 5% of all international arrivals and on the African continent, some of the top receiving countries include South Africa, Kenya, Morocco, and Egypt. Ghana needs to compete with these top preferred destinations which will become difficult even more difficult. The WTTC’s latest annual research shows that • Following a loss of almost US$4.9 trillion in 2020 (-50.4% decline), Travel & Tourism’s contribution to GDP increased by US$1 trillion (+21.7% rise) in 2021. • In 2019, the Travel & Tourism sector contributed 10.3% to global GDP; a share which decreased to 5.3% in 2020 due to ongoing restrictions to mobility. 2021 saw the share increasing to 6.1%. • In 2020, 62 million jobs were lost, representing a drop of 18.6%, leaving just 271 million employed across the sector globally, compared to 333 million in 2019. 18.2 million Jobs were recovered in 2021, representing an increase of 6.7% year-on-year. • Following a decrease of 47.4% in 2020, domestic visitor spending increased by 31.4% in 2021. • Following a decrease of 69.7% in 2020, international visitor spending rose by 3.8% in 2021. The above data shows how slow the rebound could be. 3. According to the UNWTO report, the number one reasons for travel and tours to Africa are for wildlife,
followed by culture and Heritage. When it comes to wildlife, Ghana is at a disadvantage compared with other competing countries on the continent and that becomes a challenge. Culture and heritage is the preferred advantage for Ghana yet the greatest success was during the year of return and the best we could achieve was a little over 1 million. With many tourist having lost their jobs and incomes having been affected especially in North African which is the number one generating country according to data from WTTC, It will becomes difficult increasing the numbers to 2million unless something unexpected happens. 4. Many countries who have developed their tourism and succeeded have depended on domestic spending. A WTTC report further revealed that, domestic tourism continues to represent about 73% of the total global tourism spending (US$3,971 billion). While there are significant variations between countries, domestic contributions to Travel & Tourism reached 94% in Brazil and 87% in India, Germany, China and Argentina; with China accounting for 62% of global absolute growth in domestic spending over the past ten years. This growth has enabled China to climb from fourth position in 2008 to the top spot, overtaking the USA to become the largest domestic travel market in the world. Unfortunately for Ghana domestic spending is still not encouraging. Local tourists hardly make use of paid up accommodation especially on travels for funerals. 5. Government intend refurbishing a number of tourist site which is a good initiative, however the success of any destination is dependent on the 3As i.e. attractions, amnesties, and accessibility. Many attractions are still not easily accessible due to the nature of the poor roads and to achieve our target a facelift of roads leading to all major attractions will need to be considered. 6. One reason why Europe enjoys more than 50% of all international arrivals is due to the well-developed transportation system. This makes traveling easy and affordable. Tour Operators
are thus able to package very affordable tours. On the contrary, connecting flights on the African continent is very cumbersome and expensive. Until this challenge is resolved, a large number of African and international tourists will be dissuaded. 7. The top tourism generating countries to Ghana per the latest report from WTTC indicate as follows; • United States 32% • Nigeria 18% 3. • United Kingdom 13% • Côte d’Ivoire 9% • Germany 7% We therefore have two from West Africa, two from Europe and The USA. The US market is dominated by the diaspora who visit mostly for heritage tourism. We need to ensure that we grow the Nigeria and Cote d’ivoire market if we are to increase our arrivals. These are our neighbors and we must take advantage and also tap into the East African and Southern African Markets.
Philip Gebu is a Tourism Lecturer. He is the C.E.O of FoReal Destinations Ltd, a Tourism Destinations Management and Marketing Company based in Ghana and with partners in many other countries. Please contact Philip with your comments and suggestions. Write to forealdestinations@ gmail.com / info@ forealdestinations.com. Visit our website at www. forealdestinations.com or call or WhatsApp +233(0)244295901/0264295901. Visist our social media sites Facebook, Twitter and Instagram: FoReal Destinations
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| ADVERT
FRIDAY, JULY 1, 2022
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| FEATURE
FRIDAY, JULY 1, 2022
Italy’s top producers of agro-tech products explore opportunities in Ghana By Patrick Paintsil A delegation of leading Italian producers of technologies and products for agriculture, agroindustry and zoo technics belonging to the mother association Cermac have embarked on a trip to Ghana to explore opportunities and to build partnerships with local businesses within the agribusiness value chain. The three-day visit was facilitated by the Italian Trade Agency (ITA), with the support of the Italian Embassy in Ghana, to expose Italy’s rich expertise and technologies in agribusiness in line with its mandate. Speaking to Business24 at the delegation’s business-tobusiness meeting in Accra, Trade Commissioner, Alessandro Gerbino, said the meeting offered the opportunity for Ghanaian companies to engage with some of Italy’s top producers of agro-processing technologies, machinery, and products to forge the right business partnerships. “The background of this event is two-fold: We have worked in the direction of Italian companies to let them know more about Ghana and what it needs in terms of new technologies for production, particularly in the agribusiness sector,” he said. He added: “We’ve also witnessed growing interest from Ghanaian companies wanting to access Italian technology, which is known for its reliability, quality, and competitiveness. We see an increasing number of companies in the country that are approaching us for suppliers and partners from Italy.” According to Mr. Gerbino, the presence of the delegation opens new leads that will facilitate transfer of skills and competencies that will make local production better in quality and quantity as well as upgrade the situation for domestic agro-based manufacturing. Cermac’s visit is a new important step in the strengthening of bilateral cooperation, after the several agribusiness delegations from Ghana that ITA accompanied to industry events in Italy, such as Eima, Macfrut, and others. Cermac’s president, Enrico Turoni, said that the association
seeks to establish reliable business partnerships with Ghanaian companies that want to leverage the Italian agribusiness experience in order to grow together. “We are here in Ghana because it is a country that’s doing very well in the production of fruits and vegetables with huge export potential for the European market in need of healthy diets,” he noted. Cermac is a group of companies comprising of producers of agricultural technology from the field to the table with technologies ranging from pre-harvest, field treatment to post-harvest and food processing. Deputy Trade and Industry Minister, Herbert Krapa talked about the government’s industrial drive highlighting existing opportunities in the country’s agro sector with strong emphasis on the flagship 1D1F and Planting for Food and Jobs (PJF) initiatives. He said government remains committed to incentivizing the private sector to invest in key sectors of the economy including the agro-processing and agribusiness value chain. “Cermac’s trip to Ghana is very important to the Trade and Industry Ministry as government has always believed in industrialization as the key to bringing development to our country,” he added. Italy’s Deputy Head of Mission to Ghana, Alessandra Oliva, reiterated the numerous opportunities for Italian investors highlighting the stable and conducive environment that promotes sustainable business in the country. “Ghana is upgrading its manufacturing and production capacities which are prime areas for investors. Ghana could benefit from Italy’s expertise in adding value to its natural resources across various industries,” she noted. Ms. Oliva emphasized that Ghana and Italy have enjoyed a longstanding bilateral cooperation that has birthed several investments and projects over the years in the core sectors of energy, agribusiness, construction, and tourism. “In the agriculture sector, this is
Cermac’s President, Enrico Turoni giving his remarks at the event even more relevant with demand for Italian machinery from Ghanaian entrepreneurs and businesses due to their reliability and high productivity,” she added. Bono East Regional Minister, Kwasi Adu-Gyan, in his brief remarks, touted the region’s prospects for agribusiness investors especially in the production of dairy, vegetables and grains whilst appealing to the Italian delegation to invest in the region. “The region is purely agrarian and the food basket of Ghana; we have a number of investors visiting the region and we invite Italian businesses to also come and see what we have,” he said.
Participants at the just ended-event
He added: “If we need to lift the standard of living of the people, we need to improve modernized agriculture. We have about 44,000-hectares of rice valleys and we believe if these valleys are put to good use, will be able to produce enough rice to feed the country and for export.” Cermac member that made up the delegation were: Forigo Roter Italia, L Gobbi, Rovatti Pompe, IRTEC, TR Turoni, Ing. A. Rossi, Graziani Packaging and Ferrari Costruzioni Meccaniche. Also present at the meeting was the deputy Chief Executive Officer of the Ghana Export Promotion Authority, Mr. Albert Diwura.
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| MARKET REVIEW
FRIDAY, JULY 1, 2022
WEEKLY MARKET REVIEW FOR WEEK ENDING - JUNE 24, 2022 MACROECONOMIC INDICATORS Q3, 2021 GDP Growth
3.3%
Average GDP Growth for 2021
3.3%
2022 Projected GDP Growth
5.5%
BoG Policy Rate
19.0%
Weekly Interbank Interest Rate
20.25%
Inflation for February, 2022
27.6%
End Period Inflation Target – 2022
8.0%
Budget Deficit (% GDP) – Dec, 2021
2.6%
2022 Budget Deficit Target (%GDP)
7.4%
Public Debt (billion GH¢) – Dec, 2021
391.9%
Debt to GDP Ratio – Dec, 2021
78.0%
STOCK MARKET REVIEW The Ghana Stock Exchange strengthened for the week on the back of gains by 2 counters. The GSE Composite Index (GSE CI) gained 11.07 points (+0.44%) to close at 2,507.31 points, reflecting year-to-date (YTD) loss of 10.11%. The GSE Financial Stocks Index (GSE FI) however lost 1.23 points (-0.06%) to close at 2,170.33 points, reflecting year-to-date (YTD) gain of 0.86%. Market capitalization inched up by 0.19% to close the week at GH¢61,643.87 million, from GH¢61,528.03 million at the close of the previous week. This reflects YTD decrease of 4.42%. Trading activity recorded a total of 8,475,595 shares valued at GH¢9,046,592.48 changing hands, compared with 29,705,115 shares, valued at GH¢25,805,228.99 in the preceding week. MTN dominated both volume and value of trades for the week, accounting, for 98.77% and 79.75% of volume and value of shares traded respectively. The market ended the week with 2 advancers and 1 laggard as indicated on the table below.
THE CURRENCY MARKET The Cedi weakened against the USD for the week. It traded at GH¢7.2150/$, compared with GH¢7.2030/$ at week open, reflecting w/w and YTD depreciations of 0.17% and 16.76% respectively. This compares with YTD appreciation of 0.10% a year ago. The Cedi also weakened against the GBP for the week. It traded at GH¢8.8683/£, compared with GH¢8.7823/£ at week open, reflecting w/w and YTD depreciation of 0.97% and 8.36% respectively. This compares with YTD depreciation of 1.62% a year ago. The Cedi again weakened against the Euro for the week. It traded at GH¢7.6162/€, compared with GH¢7.5394/€ at week open, reflecting w/w and YTD depreciation of 0.52% and 9.43% respectively. This compares with YTD appreciation of 2.78% a year ago. The Cedi further depreciated against the Canadian Dollar for the week. It opened at GH¢5.5224/C$ but closed at GH¢5.5918/C$, reflecting w/w and YTD depreciation of 1.24% and 15.20% respectively. This compares with YTD depreciation of 3.25% a year ago.
FRIDAY, JULY 1, 2022
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| MARKET REVIEW
BUSINESS TERM OF THE WEEK Fire Sale: A fire sale is the selling of assets at heavily discounted prices, often due to the seller’s financial distress.
ABOUT CIDAN CIDAN Investments Limited is an investment and fund management company licensed by the Securities & Exchange Commission (SEC) and the National Pensions Regulatory Authority (NPRA).
RESEARCH TEAM COMMODITY MARKET Crude Oil remained flat week-on-week amid fears of slower demand from slowing U.S. economic growth and supply concerns on the market. Brent futures traded at US$113.12 a barrel on Friday, compared to US$113.12 at week open. This reflects w/w and YTD gain of 0.00% and 45.44% respectively. Gold prices fell amid a keen watch on the Federal Reserve’s next rate move, as U.S. inflation barely moved from 40-year highs. Gold settled at US$1,828.90, from US$1,840.60 last week, reflecting w/w loss and YTD gain of 0.64% and o.02% respectively. Prices of Cocoa inched up for the week. The commodity traded at US$2,441.50 per tonne on Friday, from US$2,387.00 last week, reflecting w/w gain and YTD losses of 2.28% and 3.12% respectively.
INTERNTIONAL COMMODITIES PRICES
GOVERNMENT SECURITIES MARKET Government raised a sum of GH¢1,441.07 million for the week across the 91-Day, 182-Day and 364-DayTreasury Bills. This compared with GH¢1,504.54 million raised in the previous week. The 91-Day Bill settled at 25.64% p.a from 24.68% p.a. last week whilst the 182-Day Bill settled at 26.40% p.a from 25.98% p.a. last week. The 364-Day Treasury bill settled at 27.43%, from 26.86% at last issue. The table and graph below highlight primary market yields at close of the week.
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 Name: Moses Nana Osei-Yeboah Email:moyeboah@cidaninvestments.com Tel:+233 (0) 24 499 0069
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.
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NO. B24/317 | NEWS FOR BUSINESS LEADERS
FRIDAY, JULY 1, 2022
President appoints Hugh C.A Brown as Executive Director of Forest Services Division
The President, His Excellency Nana Addo Dankwa AkufoAddo, in accordance with the advice of the governing board of the Forestry Commission, given in consultation with the Public Services Commission, has appointed seasoned professional forester Hugh C.A. Brown as Executive Director of the Forest Services Division (FSD) of the Forestry Commission, Ghana, following a competitive interview supervised by the Public Services Commission to fill the vacant position. Mr. Brown, with almost three decades of experience in tropical forest management, protection and development prior to the appointment was the Director of Operations responsible for forest plantations, a position he held for 10 years. A letter signed by Ing. Mrs. Mabel Amoako-Atta, Secretary of the Public Services Commission noted that his appointment took effect from June 14, 2022 and charged Mr. Brown to help provide strategic vision and direction for the achievement of the strategic and business objectives and goals of the FSD and the Forestry
Commission. Profile of Mr. Hugh C.A Brown Hugh is a certified forester with over 28 years’ work experience in tropical forest management, protection and development. Hugh holds a BSc. in Natural Resources Management and an MBA from the Kwame Nkrumah University of Science and Technology, Ghana, and Masters in Forestry (MF) from Yale University, U.S.A. His professional affiliations include Ghana Institute of Foresters (member, 1994); Society of American Foresters (Certified Forester, 2010); and Society for Ecological Restoration (member, 2010; Certified Ecological Restoration Practitioner, 2018). He currently represents Africa on the steering committee of TEAKNET, an international network of institutions, companies and individuals involved in the cultivation, research, harvesting, processing and marketing of teak timber. He was instrumental in helping Ghana win the bid to host the upcoming World Teak Conference (WTC 2022) in September this year. Under his able leadership
as Director of Operations for forest landscape restoration in (Plantations), FSD, over 450,000 Ghana. In 2020 he was awarded hectares of degraded forest land the Prospect Street Award for is currently under restoration environmental leadership by nationwide employing Yale University, the first person various landscape restoration of African descent to win this interventions. prestigious global award. He also recently coordinated the planting of an estimated 7 million tree seedlings and 25 million tree seedlings under the President’s flagship programme dubbed Green Ghana 2021 and 2022 respectively which aims at restoring our degraded landscapes and contributing to the global fight against climate change. He has co-authored publications in Forest Ecology and Management, and IUFRO World Series journals. He was the lead editor of the Hugh C.A Brown, Executive Director of book ‘Ghana Forest Forest Services Division (FSD) of Forestry Plantation Strategy: Commission 2016 – 2040’ which provides a blueprint
Sixth Sense Manifesto extends panAfrican reach Sixth Sense Manifesto is excited to announce that it has entered into a strategic partnership with an independent brand management agency in Tanzania to further extend their pan-African reach. Sixth Sense Manifesto, an integrated, award-winning, panAfrican, brand management agency headquartered in Accra, Ghana has been in operation for 12 years with offices in Lagos, Nigeria and Johannesburg, South Africa. PreCOVID, the agency established pan-African presence across a network of 6 independent agencies in West and East Africa resulting in competitively winning accounts with MAC Cosmetics,
Standard Chartered Bank. In order to extend the agencies, reach and work, the new partnership in Tanzania will help in delivering unparalleled services for brands who also have a presence in Tanzania. CEO of Sixth Sense Manifesto, Ms. Nadia Takyiwaa-Mensah stated “The aim of this partnership is to ensure that our clients and brands are able to deliver one message across their panAfrican reach, which translates and engages locally.” Sixth Sense Manifesto’s key strategy is to deploy integrated campaigns to aid brands in engaging with their end-user and remain top of mind, driving repeat consumption.
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