Business24 Newspaper 22 July 2022

F R I DAY, JU LY 2 2 , 2022

.COM.GH

NEWS FOR BUSINESS LEADERS

Intravenous Infusions records 9.7pct growth in pandemic year

BY PATRICK PAINTSIL | STORY ON PAGE 2

Sunyani Airport ready to commence operations – Transport Minister Nokia chief confident of hitting full year goals

Parliament approves US$750m loan for 2022 budget support

The Minister of Transport, Hon. Kwaku Ofori Asiamah, has declared the Sunyani Airport a fit for purpose facility after concluding his last inspection tour on the facility on Tuesday, July 19, 2022, with a team of experts from the Ghana Airports Company (GAC), the Ghana

| STORY ON PAGE 3

| STORY ON PAGE 3

| MORE ON PAGE 5

2

|

THEBUSINESS24ONLINE.COM

News/Editorial

Horticulture fast becoming the new job-making machine “When the last tree dies, the last man dies” they say and truly so because flora and fauna preserve the environment and hence human life, and at a time that economies are grossly feeling the harsh outcomes of climate change, the need to preserve our environment and green resources have become even more critical.

Aside the enviro-friendly outcomes, there is proven economic potential in the green economy, specifically the horticultural value chain.

Recent statistics put proportions of the youth (15 to 35) that are unemployed and seeking work at 34.2percent. Unemployment is therefore considered by many to be the most critical issue affecting the country.

It is trite to say that with the right national and individual orientation, policies, and drive, Ghana’s rich flora and fauna resources could provide millions of jobs to the country’s teeming youth.

Stratcomm Africa is leading the charge to green

Ghana for the varied purposes of beautification, wealth and job creation as well as a sustainable fight against climate change.

Now in is tenth year, the annual Garden and Flower Show challenges and motivates the youth and businesses in the sector to aspire to grow and reach their full potential, in order to improve their livelihoods and impact society.

This year’s theme “Growth Unleashed” preps the mind of young Ghanaians to burst forth and to grow beyond the norms to achieve a blooming environment.

The global horticulture market is estimated to be valued at USD 20.77 Billion as of 2021 and is projected to reach US$40.24bn by 2026 at a compound annual growth of 10.2percent whilst global flower and ornamental plants market was valued at US$475.6m in 2020 and is expected to reach US$725.4m by the end of 2027, growing annually at 6.3percent during 2021-2027.

Intravenous Infusions records 9.7pct growth in pandemic year

BY PATRICK PAINTSIL

L im ite d Copyright @ 2019 Business24 Limited. All Rights Reserved.

Your subscription along with the support of businesses that advertise in Business24 -- makes an investment in journalism that is essential to keep the business community in Ghana wellinformed.

We value your support and loyalty.

Contact: editor@business24.com.gh Newsroom: 030 296 5315 Advertising / Sales: +233 24 212 2742

Publicly listed pharmaceutical company Intravenous Infusions recorded an impressive 9.67percent increase in revenue in 2021 compared to a reduction of 10.47percent in 2020 reflecting the gradual recovery of economic activities post COVID-19 pandemic.

The growth in revenue resulted in profit before tax increasing by five percent as compared to a decline by 22percent in 2020.

The company’s retained earnings increased by 8.26percent and total assets grew by 24.68percent which was a marginal growth compared to the 22.5percent that it registered for the previous year.

“The future of IIPLC continues to be bright and positive despite the current macroeconomic challenges. Policies aimed at maximizing revenue and profits to Shareholders are vigorously

being pursued,” the company said in a statement issued after its turn on the Ghana Stock Exchange’s Facts behind the Figures.

The statement added: “Leveraging on our reputation and brand name to maintain and increase in our local market dominance as well as continuous diversification of our product and market risks.”

The company says it has started export operations hoping to maintain and expand by taking advantages offered by Africa Continental Free Trade Area and the ECOWAS Trade Liberalization Scheme (ETLS).

“On the factory expansion project, the drawings are undergoing cGMP review and processes have commenced for the appointment of contractors for various project activities,” the company indicated.

Intravenous Infusions PLC (IIPLC) is a Ghanaian pharmaceutical company producing and distributing intravenous fluids in Ghana and the West African sub region.

The company was set up to take advantage of the total lack of local production of infusions and the country’s dependence on imports. Intravenous Infusions PLC’s production process is highly regulated and certified by Food and Drugs Authority (FDA) and Factory Inspectorate Division.

By the nature of its life saving products, the company plays a strategic role in the health delivery programmes not only in Ghana’s Ministry of Health, but also all the private hospitals as well as health sectors of institutions like the Ghana Armed Forces, Police Service and mission hospitals.

3

| NEWS

FRIDAY, JULY 22, 2022

Nokia chief confident of hitting full year goals Nokia CEO Pekka Lundmark heralded a return to growth for the vendor’s mobile networks business during Q2, even though it experienced an ongoing impact from supply chain constraints.

In a presentation of the earnings, Mr Lundmark highlighted growing demand for digitalisation and connectivity services as key opportunities for Nokia moving forward.

“We are in a good place”, Mr Lundmark remarked.

The CEO indicated pressure on suppliers is expected to ease through the second half of 2022 and the first half of 2023.

Nokia is now “well placed to deliver our full year 2022 guidance”, he said.

In the context of the global economic situation, Mr Lundmark noted Nokia’s focus is on “preparing for all possible scenarios”.

The CEO indicated Nokia is currently “tracking towards the higher end of our net sales guidance and towards the midpoint of our operating margin guidance as we manage ongoing inflation and currency headwinds”.

Nokia’s mobile networks net sales grew 1 per cent year-on-year to €2.6 billion and delivered “solid profitability”, Mr Lundmark said.

The network infrastructure business achieved 12 per cent growth to €2.2 billion, with fixed and submarine networks proving to be key drivers. From a regional perspective, North America “was a real standout” with a 19 per cent increase in net sales, Lundmark said.

Across the whole of Nokia’s business, sales increased 3 per cent to €5.9 billion, and net profit was up 31 per cent to €460 million.

Parliament approves US$750m loan for 2022 budget support Parliament on Wednesday approved a loan facility agreement between the Ghana government and African Export-Import Bank (Afreximbank) for an amount of $750 million to finance capital growth-related expenditures in the 2022 budget.

The government had expressed its intentions in the 2022 Budget Statement and Economic Policy of the Government to raise the Ghana cedis equivalent of the $750 million under a syndicated term loan facility arrangement to support the implementation of the 2022 budget.

The loan syndication approach was chosen following the government’s announcement that no eurobond would be issued in 2022 under the International Capital Market Programme (ICMP) until market conditions improve.

This approach was necessitated because at the time of the 2022 budget approval, the spread of the new COVID-19 variants had led to the re-imposition of restrictions worldwide coupled with incidences of energy price increases and supply side disruptions thereby limiting access to the international capital market.

The $750 million facility for budget support comprises two tranches – tranche A is made up of €200 million and $101 million

while tranche B is made up of $350 million.

The financing terms of the loan facilities include three years grace period for each of the stated amounts, whereas the repayment period for both the €200 million and the $101 million is four each, while that of the $350 million in seven years.

The interest rates for the €200 million, the $101 million and the $350 million are 5.57 per cent per annum, 8.81 per cent per annum and 8.81 per cent per annum respectively.

Proceeds from the loan would be used to finance critical infrastructure related to sectors such as roads, energy, railways, and health as captured in the 2022 budget.

The list of projects to be financed from the $750 million loan facility include OfankorNsawam Road $200 million; Ejisu-Konongo Road $75 million; completion of Nsawam Apedwa Road Project $10 million and the Suame Interchange and local road network project $47 million.

The rest are completion of Flower Pot Interchange, LegonAccra $35 million; completion of Sofoline Interchange $35

million; construction of Kwabenya-Peduase Road Project – Government of Ghana Funding $10 million; completion of Eastern Corridor Lots 5 and 6 $70 million; completion of EnkyikromAdawso Road Project $98 million, purchase of rolling stock and spare part $30 million and construction of Stadia Infrasructure for all Africab Games $140 million.

Mr Osei Kyei-Mensah-Bonsu, the Majority Leader, appealed to Members of the House to approve the loan facility to enable the government execute its infrastructural agenda in the 2022 Budget.

Mr Haruna Iddrisu, the Minority Leader, said the country was suffering from a debt overhang, which could lead to the stagnation

of the growth of the economy and that it was going to further worsen the cost of living for Ghanaians.

He noted that Minority Caucus was not against the $750 million facility and that they were only against the addition of $250 million, which was not captured in the 2022 Budget and Economic Policy Statement of the government.

Mr Kwaku Agyeman Kwarteng, the Chairman of the Finance Committee of Parliament, in his report, noted that the approval of the facility would enable the government to meet its projections in the 2022 budget and support the government’s liability management and ensure exchange rate stability.

Source: GNA

4

| NEWS

FRIDAY, JULY 22, 2022

Invest Back Home – Exim Bank Dep. CEO urges Ghanaians abroad The Deputy Chief Executive Officer of Ghana Exim Bank (GEXIM) responsible for Banking and Business, Rosemary Beryl Archer, has urged Ghanaians living abroad to invest back home in line with the Government of Ghana’s industrialization agenda which paves way for the diaspora community to partner Ghanaian entrepreneurs through various initiatives supported by GEXIM. Ms. Archer made this call at the maiden edition of Expo Ghana 2022, a business forum and special exhibition of Made-In-Ghana products organized by London based Ghanaian Marketing Communications Company, Akwaaba UK, on Thursday 14th July 2022 at the Canary Riverside Plaza Hotel in London, United Kingdom.

She encouraged Ghanaians resident abroad to effectively participate in national development in a structured way through the channeling of their remittances into entrepreneurship activities as well as supporting innovation and development of the government of Ghana’s identified priority sectors of the economy.

“On the back of the Government’s SME Development Agenda, Ghana Exim Bank has created platforms like the Tuesday Market to get SMEs export ready to meet the demands of global buyers. It is obvious that the Diaspora can advance our developmental agenda through the use of knowledge and skills to fill resources and knowledge gaps, as partners, and also as members and leaders of scientific and technical networks in Ghana.

Ghana Exim Bank is positioned to provide the necessary support to make this possible through

various products and services”, she emphasized.

Ms. Archer further urged global importers and distributors including Wanis International Foods, one of Europe’s leading wholesalers for worldwide foods to explore market access opportunities with manufacturers of Made-In-Ghana products for export to the United Kingdom. She indicated GEXIM’s preparedness to facilitate such an arrangement to see Made-In-Ghana products on the shelves of major supermarkets across the United Kingdom.

She expressed her appreciation

to Akwaaba UK for initiating Expo Ghana to promote MadeIn-Ghana products and creating an opportunity for Ghanaian manufacturers to engage with their counterparts in the United Kingdom to explore avenues to build synergy and develop their capacities.

Other speakers at Expo Ghana 2020 were His Excellency Papa Owusu-Ankomah, Ghana’s High Commissioner to the United Kingdom, Hon. Mark Okraku Mantey, Deputy Minister for Tourism, Arts & Culture, Yofi Grant, CEO of Ghana Investment Promotion Centre, Alex Dadey, Executive Chairman of KGL and Board Chairman of GIPC, Fuad Mohammed Abubakar, Head of Ghana Cocoa Marketing Company Limited, Adjoba Kyiamah, Executive Director, UK - Ghana Chamber of Commerce, Andrew Takyi-Appiah, CEO of Zeepay Ghana, George Philips, Commercial Director of Wanis International Foods and Izzy Obeng, CEO & Founder of Foundervine.

Ashanti caucus set to meet Prez over developmental projects

BY EUGENE DAVIS The chairman of the Ashanti region caucus in parliament Kwame Anyimadu-Antwi says the caucus is planning to engage the president in a meeting to commend him for the ongoing developmental works in the region and also draw his attention to uncompleted projects.

His remarks follow an incident earlier this week in Suame, Kumasi where workers at Suame magazine threw various items in his direction and hooted at him, after he attempted to address residents in the area following the resumption of work on the Suame-Maakro road.

Addressing the press in parliament on Thursday, Mr. Anyimadu-Antwi commented on the incident adding “we highly condemn this act, I am not sure that Hon. Kyei-Mensah-Bonsu has been given resources that he had to use within the region which has not being used, so we call on our constituents especially within

the Kumasi metropolis and within the whole of Ashanti region to exercise restraint.

The leadership of Ashanti caucus and the entire caucus are planning to meet the president and first of all to thank him for what he has done within the Ashanti region and also request that what has not been completed be completed.”

The Ashanti region has been making the news lately with some residents in some communities unhappy with government over what they describe as lack of developmental projects and bad

roads.

To some of them, the region should witness more developments given that the ruling New Patriotic Party garners majority of its votes from the region.

According to Mr. AnyimaduAntwi who is also a Member of Parliament for Asante-Akim Central there are lots of projects that are going on within the Ashanti region and added that the IPEP projects and the Middle Belt projects have gone on. “ If we come to hospitals we have a lot going on, for instance F o m e n a , K o n o n g o hospitals, A t w i m a Nwabiagya hospital ongoing, so a lot of projects have gone on, but we also agree that there are some

of them that are ongoing and have not been completed and some of them have not been touched, for instance within the inner parameters of Kumasi 277 asphalt road were given to Kumasi, amongst them 227 had been completed, remaining about 50, so the government has actually done a lot, we are afraid when people say nothing has been done in the region, it is going to lead to apathy in our next elections in 2024, which will be an unfortunate situation.”

He further stated that the caucus acknowledge the fact that most of the projects, “few of them have been completed, some of them are ongoing, some of them have not started, this is the reason why we are seeking audience with government to find out and find the best way of making sure that all these projects are completed, we are pleading that the best way to solve the problem is dialogue and not violence, that were used.”

| NEWS

FRIDAY, JULY 22, 2022

5

Sunyani Airport ready to commence operations – Transport Minister Civil Aviation Authority (GCAA) and the Ghana Air Force.

The facility, he concluded, is now ready for operations after assessing all the works that were carried out by the contractor, Resources Access Limited on phase one of the Sunyani Airport Rehabilitation Project commenced in 2018 by the AkufoAddo-led government.

However, he was quick to add that the airport would be commissioned when the aerial coordinates are thoroughly assessed and approved by the Ghana Air Force and subsequently certified by the Ghana Civil Aviation Authority (GCAA).

Subsequent to that, there would be test runs to ensure that the runway and other facilities to ensure safe landing and takeoffs of aircraft have met all aviation standards.

“Thankfully, the contractor has completed his work and we are waiting for operations of the airlines to commence. But in the aviation industry, there are rules and regulations. The International Civil Aviation Organisation (ICAO) has some standards for any airport to meet based on their regulations before commencing operations. That is why we have brought a team of experts from the Ghana Civil Aviation, Ghana Airports Company Limited and the Ghana Air Force to come and inspect the facility to determine if all the regulations requirements have been met”, he noted.

The Transport Minister made

these observations when he interacted with journalists moments after his team of experts have thoroughly assessed the GHS48million airport project.

He was accompanied by a deputy Minister of Transport, Hassan Tampuli Sulemana, NPP Member of Parliament (MP) for Sunyani East and Board Chairman of Bui Power Plant, Kwasi AmeyawCheremeh, NPP MP for Sunyani East and Minister for Employment and Labour Relations, Ignatius Baffour Awuah, Bono Regional Chairman of NPP, Kwame Baffour, aka ‘Abronye’, the Bono Regional Minister, Justina Owusu Banahene and the Sunyani Municipal Chief Executive, Kusi Boadum.

Commenting further, he said the Ministry of Transport will always ensure that ICAO’s regulatory standards are met to avert any fatalities.

“The Sunyani Airport was closed down in 2015 when the runway got deteriorated and became not fit for purpose. Aviation industry is a very high regulatory industry and if you miss the standards, it means human lives are at stake. That is why the airport was closed down for renovation works to commence to meet ICAO standards. Now what we have done is to ensure that the aircrafts can come here. We are going to ensure that this airport meets the best standard in the aviation industry and is fit for purpose.

Now the aircrafts can come in and will not pose any danger to anyone”, he said.

A team of experts from the Ghana Air Force that accompanied the Transport Minister to Sunyani to assess the aerial coordinates got down to work. They flew in a Ghana Air Force helicopter which had carried the Minister and his entourage from Accra, and got suspended in air for about twenty (20) minutes before landing.

“It is air route and the aircraft before landing, there are certain altitude and coordinates that have to be maintained. So, that is basically, we are going up to confirm the route and send the report to GCAA for certification”, said the Group Captain, Gervase Wienaa, Director of Engineering, Ghana Air Force.

Findings of their report are expected to be given to the GCAA for study and certification.

Commenting on the facility, the Director of Projects & Operations, Resources Access, Abdul Salam Zabilila Alhassan, said they are delighted to have accomplished their task having demarcated the scratches to increase friction on the runway as well as completing the markings on the runway.

“We are now waiting for the airport to get the regulators to certify the facility”, he noted.

A deputy Director-General, Technical of the GCAA, Mr. Daniel Acquah, also commenting on the airport facility said, he was impressed with the work done

by Resources Access Limited, believing that some aircraft would commence operations in a few days.

The Managing Director of Ghana Airports Company, Pamela Djamson-Tettey, on her part said “We are delighted to be here today feeling very proud that our airport is ready to start operations. We believe that the contractor and the consultant have delivered on time to a very high standard. We are just waiting to start operations because it means a lot to us as Ghana Airports to be able to earn the revenue that comes from a key place like Sunyani. Have received a lot of requests from some domestic airlines wanting to operate the route. So, we are thrilled that today, as we are here to do the inspection, we will go back with good news and in a few days, the airport will be up and running, and like all our other airports. It will earn us good money”.

The Bono Regional Minister, Justina Owusu Banahene, also commenting on the facility, said Passion Air has applied to operate the Sunyani-Accra route and other destinations. She was hopeful that some other airlines will come onboard.

Rehabilitation of the Sunyani Airport Phase 1 project began in 2019. It was expected to have completed by end of May 2021 to pave the way for the safe landing and takeoff of aircraft. However, due to the outbreak of the novel Coronavirus, works on the facility had to be suspended until the country returned to normal life.

6

| NEWS

FRIDAY, JULY 22, 2022

Prudential Bank, Mastercard create more value for customers with launch of corporate and standard cards Prudential Bank, in partnership with Mastercard, has formally launched two PBL/MasterCard payment cards; Corporate and Standard, to create more value for their customers. The corporate card is designed for corporate institutions and businesses while the standard card will cater to individuals and students.

Speaking at the official unveiling ceremony, Executive Head of Business at Prudential Bank limited, Ebow Quayson, said the partnership is in keeping with the core values of the bank. “For us, this partnership with Mastercard is a step towards fulfilling our core values of creativity, innovation and putting our customers first. We realize and understand the varied needs of our customers and clients, knowing that there are different strokes for different folks. With the addition of Mastercard, Prudential bank now offers all the major three international cards, giving our customers greater choice and flexibility,” he said.

The Mastercard Corporate and Standard cards offer customers of Prudential Bank the opportunity to transact business across the

globe; online, POS and on ATMs with ease. The cards also provide clients the opportunity to access discounts and deals on its platform in a number of merchant locations.

Mastercard is the only global payment technology platform that is accepted in over 210 countries and territories.

“As a trusted technology leader and proud supporter of the business community, we are delighted to partner with Prudential Bank to expand inclusion for our bestin-class card suite offerings. We remain committed to helping businesses by offering innovative tools and payment solutions that enable them to make the most of the digital economy and an everstrengthening payment ecosystem.

Over the years, we have witnessed the commitment with which Prudential Bank has served its customers and we look forward to furthering our mutually beneficial collaboration,” said Bossman Akuffo Kwapong, Country Manager, Mastercard Ghana.

Mastercard is helping individuals and businesses navigate the everchanging payment landscape through its tailored commercial

solutions. Mastercard is committed to connecting and empowering an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible and has made a global commitment to bring 1 billion people and 50 million micro and small businesses into the digital economy by 2025.

On his part, Head, Digital Transformation at Prudential Bank Limited, Leopold Armah, noted that the partnership completes the circle of payments cards that are accessible to the bank’s customers. He said “The introduction of this card fits into the Bank’s transformation strategy of providing variety of services to our customers, and this partnership with Mastercard completes the circle when it comes to card options.

Indeed, it is part of the process of embracing new partnerships to grow wallet share and deepen the emotional connection to our customers. Enviably, Prudential Bank is now among the very few banks that issue all the major international payment cards; in addition to gh.Link and eZwich for local transactions. Finally,

this partnership also cements our efforts to enhance our digital channels and card offerings as well as deliver ease and convenience to our clients.”

The contactless cards come with the latest chip and pin technology, which is relevant in this age of COVID-19 and cyber threats. “We encourage all our clients, both corporates and individuals to reach out to our branches and Relationship Managers and acquire these cards to enjoy numerous benefits that come with them,” he concluded. Mrs. Akosua Boahen, Head of Marketing and Corporate Affairs extended invitation to the customers of the bank and the general public to sign on to the cards to a take advantage of the numerous benefits it offers.

Since its inception, Prudential Bank has positioned itself as one of the leading indigenous banks in the country offering the best and most rewarding banking services to its customers. Prudential Bank remains committed to playing a pivotal role in boosting Ghana’s banking sector leveraging quality, creativity and innovation.

Ghana loses GH¢5b to corruption in 2021 Ghana lost approximately GH¢5 billion in cash through the payment of bribes to public officials in 2021, the Ghana Integrity of Public Services Survey (GIPSS) has disclosed.

This is equivalent to almost onethird of the 2021 budget of the Ministry of Education, which is implementing one of the country’s flagship programmes, Free Senior High School (free SHS).

The government is currently racing against time to raise about GH¢4.5 billion through the Electronic Transactions Levy (E-Levy) – a domestic revenue mobilisation enhancement measure to support national development.

The maiden national survey, titled: “Corruption in Ghana – people’s experiences and views” also disclosed that more than 17.4 million bribes were paid in the same period.

The survey was conducted by the Commission for Human Rights and Administrative Justice (CHRAJ) in collaboration with the Ghana Statistical Service (GSS) and the United Nations Office on Drugs and Crime (UNODC).

It collected evidence-based information from 15,000 households across the country involving people who were 18 years and older on the forms of corruption affecting the

population of Ghana.

This is to determine the prevalence of the situation and its prevailing typologies, give benchmark indicators that can be used to inform relevant policies to curb administrative corruption in various public institutions in the country.

Apart from the cash payment, which contributed 84.8 per cent of the forms of bribe paid, 13.3 per cent of the bribes paid were food and drinks; 9.7 per cent, exchange for other services; 5 per cent valuables, and 2.2 per cent animals.

The bribes were paid by 33.6 per cent citizens to speed up procedures; 15.8 per cent, as a sign of appreciation; 13.8 per cent, to avoid the payment of fine; 10.8 per cent to avoid problems, and 3.1 per cent, to avoid the cancellation of public utilities.

Speaking at the launch of the report in Accra on Wednesday, Professor Samuel Kobina Annim, the Government Statistician, said that more than a quarter of the country’s adult population (26.7 per cent) paid bribes to a public official in 2021.

Prof Annim also noted that most of the bribes were paid at the direct request of the public officials involved, as six out of 10 bribes paid (59.4 per cent) were directly

requested by those officials.

Findings from the survey showed that the Ghana Police Service, Immigration Service and custom officers of the Ghana Revenue Authority (GRA) were the three top institutions that received bribes.

They were followed by the Lands Commission, Driver and Vehicle Licencing Authority (DVLA), Passport Agency officials, and prosecutors, judges and magistrates, with elected government officials being the least recipients.

In his remarks, Justice Emmanuel Yonny Kulendi, a Justice of the Supreme Court, who stood in for the Chief Justice, said that corruption was the most dangerous threat to the country’s democracy, development and national security.

He said that: “If we fail to prevail in our fight against corruption, it is fast draining the public purse, creating barriers to economic development, decreasing the effectiveness and efficiency of public services, increasing transaction costs, undermining legal rules and eroding the legitimacy of government and will ultimately bring down our democracy.”

Justice Kulendi noted that the report provided verifiable attempt to validate the prevalence of corruption

in Ghana, therefore, offer scientific measures to tackle corruption for development of tailored anticorruption interventions.

Mr Richard Quayson, the Deputy Commissioner of CHRAJ, said that: “In order to fight corruption more effectively, it is critical to improve society’s understanding of its different manifestations and to make regular, scientifically-based efforts to measure its occurrence,” which the survey provided.

He noted that GIPSS would support achievement of the goals of the National Anti-Corruption Action Plan (NACAP), SDG 16 and the United Nations Convention against Corruption Article 61.

Ms Jennifer Sarvary Bradford, a Crime Prevention and Criminal Officer at the United Nations Office on Drugs and Crime, also said that the report would help Ghana produce an evidence-based policy to fight corruption.

The report called for stakeholder engagement at both the national and sub-national levels, publication of analytical reports, institutionalisation of GIPSS, and the anti-corruption implementation roadmap to address the situation.

Source: GNA

7

| NEWS

FRIDAY, JULY 22, 2022

5th Ghana Shippers Awards nominations ends on July 25 Organisers of the Ghana Shippers Awards have slated Monday, July 25, 2022, to end nominations for the 5th edition of the awards.

The awards which provide a platform to recognise individuals and companies that play significant roles in the growth and development of the shipping industry also seeks to recognize key functions within the industry that promote growth and sustainability.

Theme Themed “The negative impact and survival of COVID-19 on the maritime and shipping industry,” this year’s awards which is being chaired by the Minister of Transport, Mr Kweku Ofori Asiamah would focus on the negative impact of the pandemic on industry and measures put in place to survive them.

The ceremony which is scheduled for Friday, August 19, 2022 at the Kempiski Gold Coast Hotel in Accra at 6:00pm would recognize achievements from local and international companies involved in the shipping sector in Ghana.

It would also reward those that have played a defining role in moving the shipping industry forward during the COVID and post-COVID periods.

The awards cut across road

transportation, ocean carriers, air transportation, freight forwarding, shipping agents, express services, courier agencies, government agencies, insurance and financial institution and more.

The Awards will also provide the perfect opportunity for participating organisations to raise their profile within the context of this important industry, gain peer recognition and further heighten their visibility with the professional audience.

Benchmark The benchmarks for shortlisted nominees’ performance will be based on key performance indicators (KPIs) in the standards of excellence, including information technology for couriers, safety and competitive pricing.

Shortlisted nominees would weigh above the scores and survey done by the Ghana Shippers Authority who are major partners and handling the technical aspects of the awards.

Categories Among the categories are; Container Line of the Year, International Express Operator of the Year, Break Bulk Operator of the Year, Air freight Solutions Provider

of the Year, Sea Freight Solutions Provider of the Year, Project/Heavy lift Forwarder of the Year, Road Haulier of the Year, Air Cargo Carrier of the Year, Life Time Achievement Award, Shipping line Operator of the Year, Overall Shipping Company of the Year, Domestic Courier Service Provider of the Year, Freight Forwarder of the Year, Customer Service Award, Excellence in HSEQ Award, Other categories include; Excellence in Corporate Social Responsibility, Promising Forwarding/Shipping Company of the Year, Young Freight Forwarder of the Year, Terminal/Port of the Year, Environmental Sustainability Awards, Marine Service Provider of the Year, Excellence in Innovation and Technology, Maritime Personality

of the Year, Maritime Institution of the Year, Brand of the Year, Special Recognition Awards, Marine Insurer of the Year, Shipping Financial Service Provider of the Year, Logistics Service Provider of the Year, Consultancy Service of the Year.

Nominations To qualify for an award interested participants should complete a form at www.ghanashippersawards.com/ nomination-entry or call 0302 779933 or 0275027000 for further inquiries.

Nominations are now open until Monday, July 25, 2022 The Ghana Shippers Awards is in partnership with the Ghana Shippers Authority, Ghana Ports and Harbor Authority, Ghana Maritime Authority, Graphic News App Plus and powered

by Globe Productions Limited.

U.S Ambassador lauds government for promoting inclusive growth in Northern Ghana Madam Virginia Palmer, United States Ambassador to Ghana has lauded government for promoting inclusive economic growth in the northern part of the country saying it is important for the peace and stability of the country.

She said “I have a lot of respect for the way that the Ghanaian Government recognises that inclusive economic growth in the north is critical both to Ghana’s economic development overall but also to peace and stability and preventing violent extremists taking advantage of conflicts or lack of development” to perpetrate their activities.

She was speaking during an encounter with journalists in Tamale on Wednesday evening as part of her first official trip outside Accra since assuming her responsibilities as the United States Ambassador to Ghana in April, this year.

The Ambassador, while in the north, will undertake various activities including attending a Power Africa event, meeting with the Northern Regional Minister, touring the Nuts for Growth factory, and the launch of Global Shea Alliance and MasterCard Foundation’s Shea Business Empowerment Programme, visiting an

open defecation free community and a health care facility in the Sagnarigu Municipality, meeting with Women in Agriculture Platform representatives, meeting with President of the Savannah Region Queen Mothers Association and meeting with Mandela Washington Fellowship and United States Ghana Exchange Programme Alumni.

Madam Palmer said “We have 130 million dollars of United States Agency for International Development (USAID) programmes in the north. North is a priority for us.

The role of the north is particularly important to the work that the USAID does and to keeping Ghana secure and stable amid increasingly rough neighbourhoods’. We are concerned about democratic backsliding in Burkina Faso, Mali and Guinea, and Ghana’s example is hugely important to that.”

She further commended the government on the Accra Initiative where the government recognised that there was an increasing threat from the Sahel and close door West African countries, which were stable and democratic, were increasingly vulnerable to attacks as witnessed in recent days in Togo, Benin, and Côte d’Ivoire.

She said, “So, the Accra Initiative was the government’s leadership with her neighbours to cooperate on intelligence, share information and or work on inclusive economic growth in our northern borders to ensure that we stay peaceful and democratic, and if that happens then the rest of the economy of entire West Africa and the continent will also be strengthened.”

Madam Palmer spoke about corruption, saying “Corruption undermines everything that we and the Government of Ghana want to do.

And so, we provide support to the Office of the Special Prosecutor for those corruption cases, and we provide human rights and professional training for the Police to help investigate those cases, but we are trying to provide practical assistance

to the people that are investigating and holding accountable officials and politicians, but it is a serious problem and must be addressed.”

She said addressing corruption was also important for the business climate adding “One of my priorities is to promote bilateral trade and investment. We have 2.7 billion dollars in bilateral trade and investment, but companies will continue to come if they believe they can operate transparently, and the business environment is predictable.

So, being free from corruption is important to that.”

She spoke highly of the country’s human rights credentials saying, “Ghana has a really well-deserved reputation for respecting human rights of its citizens, and one of the things I have been reflecting on is Ghana was a beacon for American civil rights activists.”

She, however, expressed worry about the LGBTQI Bill being considered by Parliament saying “I worry about the LGBT Bill potentially really undermining that reputation and causing harm to Ghanaian citizens, who will be afraid for their safety.

There is a lot of concern that the Bill will be inconsistent with the Constitution and our international obligations or commitments. I hope that Ghanaians’ human rights will continue to be respected.”

8

| NEWS

FRIDAY, JULY 22, 2022

9

| FEATURE

FRIDAY, JULY 22, 2022

Debunking conservation myths today critical for a better tomorrow for Africa

By Alice Ruhweza, WWF Africa Regional Director

This is the decade for debunking myths about conservation in Africa. Not only are these myths pervasive, persistent, and pernicious. They are perpetuated by those who put short-term gains for the few ahead of long-term gains for the many. To decisively tackle climate change and reverse biodiversity loss, we must not be misled by myths but face the facts.

The most common myths paint a picture of a world where conservation is at odds with Africa’s economic and social development. Nothing could be further from the truth. Far from being at odds with Africa’s aspirations, conservation is critical to underpinning them, from zero poverty and hunger to creating pathways to sustainable prosperity for all.

On July 21, WWF is launching its Africa Strategy 2021-2025 at the International Union for Conservation of Nature (IUCN) Africa Protected Areas Congress (APAC) in Kigali, Rwanda. We do so in the knowledge that correcting these myths is crucial to conservation at scale across

the continent.

Our strategy debunks two big myths.

The first myth is that conservation and economic development cannot co-exist.

Nothing could be further from the truth. Far from being mutually exclusive, they are inextricably linked.

Our strategy focuses on Making Nature Count.

Nature is Africa’s bedrock of economic, social, and environmental sustainability.

Yet, it is increasingly threatened by extraction, fragmentation and unsustainable production and consumption. Valuing nature’s contribution is critical to Africa’s development.

The facts speak for themselves.

Up to 50% of the wealth in most African countries comes from natural capital and assets. Around 70% of Africa’s population depends on nature for their livelihoods. We need to value our assets and make them count for all.

The second myth is that conservation is only for the elite few. Our strategy has two impact areas aimed at addressing these

myths. One calls for the creation of Shared Spaces that ensure co-existence between nature and people’s needs. The other calls for engaging the Whole of Society. Sharing our natural spaces sustainably is critical for conservation to succeed.

Africa’s biodiversity has fallen by 65%, according to the WWF Living Planet Report 2020. We need to share our spaces to reduce human-wildlife conflict (HWC). We need to share spaces to arrest and reverse biodiversity loss. And we need to share our natural spaces to ensure we all have clean air to breathe, fresh water to drink, nutritious food to eat and a future which enhances our health, wealth, and wellbeing for generations to come.

WWF Africa is committed to conservation as a collective responsibility with collective rewards. We are committed to Making Nature Everyone’s Business.

Now, more than ever, conservation must be about inclusion rather than exclusion.

It must be for all people, everywhere: a Whole of Society approach. It must protect human

rights and strengthen the voices of the marginalised. It must support equity, resource rights, and benefit sharing. It must bring people together to address our common problems for the good of everyone.

A recent report on the State of Indigenous Peoples’ and Local Communities (IPLCs) lands and territories provided unequivocal and compelling evidence that global biodiversity goals would be unattainable without including IPLCs, whose lands cover at least 32% of the planet’s terrestrial surface. 91% of their lands are in good or fair ecological condition today, according to an analysis by 30 conservation experts.

Our overarching approach of Inclusive Conservation ensures everyone’s voice is heard, human rights and gender equity are central to our work, and we tackle power imbalances and corruption through effective and inclusive natural resource governance.

This is the decade to debunk myths about conservation. It is time to face the facts, not to peddle in fairy tales.

10

| NEWS

FRIDAY, JULY 22, 2022

People can support museums in two ways: by helping to stimulate visits and by supporting them in general…how well can you support? Part 2

By Philip Gebu A visit to the National Museum will not be a bad idea if indeed we want tourism to be the leader in national building. Continuing from a research carried out by Van Riel Patricia Heijndijk as to why people love art museum they try to explain the love. “Museums elevate the visitor,” is a statement often made by directors of museums in interviews. The role of an art museum is to collect, maintain and expose art aimed at educating the public.

No doubt, entertainment is, in the perception of the visitor, an important value people attach to museums too. Finally, museums are more and more seen as key magnets in catalysing the economic development of cities. In this study they found interesting confirmations, but also findings that contradict the above summarized functions and roles of museums. Based on their data, they assume that the following five factors are key in explaining the stellar reputation of art museums.

1 people have to know you Organizations can only become highly reputed when they are known among a large segment of the stakeholders they depend upon. In other words, awareness is the first explanation of the differences in reputation between the 18 museums. And indeed, the number one in the reputation ranking, the Musée du Louvre, is by far the most familiar museum in the study – 63 per cent of the people indicates being somewhat familiar or very familiar with this museum. The number 18 in our ranking – the Centro Cultural Banco do Brasil – is least familiar (19 per cent is somewhat or very familiar with this museum). A higher degree of familiarity has a positive effect on reputation, as can be seen with almost all other art museums. Most likely, this is due to the historical heritage of the European and USA giants, compared to relatively new kids on the block in especially Asia and Brazil. This must be an eye opener to managers of our museum especially the National Museum. If tourist especially local one are not familiar, not website to visit and see the images of the museum, not presence and reviews on social media I’m afraid we can’t attract the numbers.

2 Highly reputed city/country: highly reputed museums There appears to be an interesting interaction between the appreciation for a museum and the reputation of the country and especially the city it is located in. The higher the country’s and city’s reputation, the higher the

appreciation for a museum there.

Country and city reputation studies by the Reputation Institute show that the same countries are almost always in the top 10.

Australia, Canada and Switzerland are annually shifting positions in the top 3. The rest of the top 10 consists of small countries, such as Scandinavian countries, Belgium and the Netherlands. Larger and politically more influential countries such as the USA, Russia and China are substantially lower in these ranking. In other words, the high ranking of the two prominent Dutch museums (Van Gogh Museum and Rijksmuseum) can partly be explained by the high appreciation of the Netherlands and the city of Amsterdam. Having a less positive country reputation – which is unfortunately true for Russia’s reputation (39.8) – still can evoke highly positive associations, for example Russia’s national pride the Hermitage, with a global average of 81.4.

Most probably, this has a positive impact on the reputation of the city where the museum is located, Saint Petersburg (67.8) that scores 28 points higher than Russia as a whole. If a museum does not yet have the stellar type of reputation as the Hermitage, the magic doesn’t appear to work the same in creating a positive image. Centro Cultural Banco do Brasil scores a positive 74.4 but unfortunately this does not impact sufficiently positive the reputation of Rio de Janeiro which has a score of 54.6.

TIME magazine has named Accra as the best place to visit in Africa. This comes at a time tourism globally is in a rebounding stage. This could be positive news for the country as it may encourage many more international visits.

This is positive news for the city and country. We must exploit our success in ensuring tourists are driven to our museums and other attractions. According to TIME’s 2021 World’s Greatest Places, Accra is now easier to access with the many flights that come into the country daily. The KIA has been recognized as the “Best Airport in Africa” (2-5 Million pax per annum) for both 2019 and 2020 by Airports Council International Currently 38 airlines are operating in Ghana and they connect directly to 30 different destinations around the world.

Secondly, the report mentioned that tourists will have many things to see in the capital including museums, beaches and arts.

3. Appealing collections make the difference Museums are seen as experts who are sincere and sophisticated and exhibit appealing collections.

But they are also rated highly for citizenship, the positive influence they have on society, and professionalism. These findings fit with the three traditional purposes of museums: making art accessible, education, and heritage preservation.

They have found that five drivers impact reputation of a museum most. The largest impact on the museum reputation comes from: 1. the attractiveness of the collection 2. How inspiring the collection is 3. How different the collection is from the collection of other museums 4. The positive impact the museum has on society 5. The professional way the museum is managed using public funding wisely. The Musée du Louvre appears to be the highest-ranked museum in all five key determining reputation drivers, which no doubt explains its number one position in the overall ranking of the 18 mostvisited art museums.

The high impact of the nature of a museum’s collection is indeed an argument mentioned in many studies about why people pay a visit to a museum. However, in one of the studies in which they analysed the reputation of the Dutch museums in the last three years, they discovered that – even with experienced museum visitors – their factual knowledge about the kind of collections they claim to admire so much, is less elaborated. In an internetbased survey, we provided a list with pictures of the most wellknown paintings or sculptures in each of the 10 selected Dutch art museums. With the exception of the very well-known works of Rembrandt and Van Gogh, only a very small group of respondents was able to make a correct link between the top painting of a specific museum and the name of that museum. This gives the impression that the admiration for a museum is a combination of feeling elevated by going to a high-status event in combination with the relaxed atmosphere a museum appears to have on the majority of its visitors.

4 Big is not always beautiful Despite the enormous amounts of visitors of the top 5 art museums, ‘bigger’ appears not to be a sound predictor of being seen as better. Only two of the most-visited museums are in the top 5 of their overall reputation ranking: Musée du Louvre and British Museum.

5 Sponsoring is underused Museums cannot operate well without financial support from either the government or from the business world. Overall, people

see the added value of sponsoring by companies, but they believe that the company benefits more from this investment than the museum. In Russia, non-museum visitors are most convinced that companies benefit from corporate sponsoring. But they are also least convinced that the museums will gain reputational benefits from this sponsoring.

Italian museum visitors are most positive about the effects for companies. US museum visitors are most positive about the reputation benefits for museums.

The majority of the respondents believe that the best a company can do in sponsoring a museum is simply transferring money. This is quite in contrast with the way in which companies and museums are nowadays joining forces in mutually rewarding relationships, for example by exchanging knowledge.

Apparently, the general public is simply not aware of this at all. It’s clear on major challenge managers of the National Museum may face is money to run the place. Entrance fees alone are so low and they must come up with a strategy to be raising funds from corporate bodies and tourists.

What is the magic behind this high degree of admiration?

In this study they have found five explanations for the stellar reputation of museums in general and for the top 5 specifically: 1.

Familiarity matters and is strongly linked with heritage. That is why US museums and above all European museums get a more positive evaluation. 2. The following key drivers of reputation matter most: attractive collections, positive influence on society, and wellmanaged institutions specifically spending public money wisely.

3. A positive image at country/ city level interacts strongly with high-reputed museums. 4. Big is not automatically being seen as best. Big means, many visitors.

However, too many people at the same time in a museum does not evoke the feeling of elevation.

Maybe, large numbers of visitors evoke arrogance and lack of customer focus that the relative smaller museums still do provide to their visitors. 5. Sponsoring can be highly helpful in getting a better reputation. Professional sponsoring is based on a winwin situation. Unfortunately, museums do not always sufficiently express the added value of the sponsor in their communication with visitors. This results – as we have seen in this study – in an assessment by continued on page 12

11

| FEATURE

FRIDAY, JULY 22, 2022

WWF launches a strategy for Africa to make nature everyone’s business WWF in Africa will, on Thursday, 21st July, launch its “Strategic Plan for Africa: 2021 - 2025” - a call to move beyond business as usual and make nature everyone’s business.

WWF-Africa’s strategic plan fits with the Africa Protected Areas Congress’s objective in Kigali, Rwanda this week to position Africa’s protected and conserved areas within the broader goals of economic development and community wellbeing.

Alice Ruhweza, WWF Africa Regional Director, said: ‘’The WWF Strategic Plan for Africa debunks the myths that conservation is at odds with Africa’s aspirations for economic and social development and that conservation of nature is the business of the elite few.

This strategy seeks to reframe the narrative by demonstrating that conservation of nature and economic development can coexist in “shared spaces”, and protecting, sustainably managing and restoring nature is not just the business of conservation organisations. It is the shared business of everyone, everywhere – and we need all hands on deck.”

Africa hosts one-fourth of the world’s mammal species, a fifth of the world’s bird species, and a vast network of protected areas. The continent has the

fastest urbanisation rates in the world and is experiencing a digital revolution with mobile payments that have developed more rapidly than in any other

part of the world. Furthermore, people across Africa and the rest of the world are showing an unprecedented interest in nature, and governments and industries are taking steps towards a net zero and a carbonneutral, nature-positive future.

For example, on Twitter alone, the number of posts related to nature loss and biodiversity in 2021 has increased by 65% since 2016. In September 2020, political leaders participating in the United Nations Summit on Biodiversity, representing 84 countries from all regions and the European Union, committed

to reversing biodiversity loss by 2030.

WWF’s strategic plan seeks to address these challenges and opportunities and go beyond business as usual to blend the organisation’s conservation work with an inclusive approach linking sectors, reaching across boundaries, and cementing the bond between people and nature.

This means creating shared spaces that ensure co-existence between people and nature and engaging the whole of society to innovate, integrate, leverage, and collaborate for robust and durable conservation impact at scale.

Marco Lambertini, WWF Director-General, said: “This plan consolidates our work in Africa across 14 countries, seven priority landscapes, and a portfolio of regional programs into one strategy aligned to WWF’s global goals, which include zero loss of natural habitats, zero extinction of species and halving footprint of consumption and production. This strategy sets ambitious conservation targets

and leverages an inclusive rightsbased and whole-of-society approach - bringing together partners across sectors and scales. It seeks to reinforce WWF’s mission to stop the degradation of the planet’s natural environment and build a future in which people live in harmony with nature.”

WWF has origins in Africa and has been at the forefront of local conservation initiatives for six decades.

Rosette Rugamba, International Board Member, WWF International, said: “Up to 50% of the wealth in most African countries comes from natural capital and around 70% of Africa’s population is dependent on nature for their livelihoods. Yet nature is increasingly threatened by extraction, fragmentation and unsustainable production and consumption. The challenge for governments is to meet people’s needs while also meeting the needs of nature. Both are facing enormous pressures. Both hold significant promise too. For Africa to achieve a nature-positive and sustainable future for all, efforts to conserve nature must contribute to reducing poverty, creating jobs and addressing the needs and aspirations of a rapidly growing population. As WWF enters its seventh decade in Africa, the task is urgent, and the time is now”

Ghana Gas launches maiden Snr Staff Association Week Ghana National Gas Company has launched its maiden Senior Staff Association Week at the company’s headquarters in Accra.

The Senior Staff Association week is under the theme: “Institutionalizing the Gas Sector in Ghana for Socio-Economic development – The role of the Ghana Gas Worker” Dr. Ben K.D Asante, Chief Executive Officer of Ghana Gas, expressed gratitude to the association for its unwavering support in carrying out the company’s vision.

“I can assure you till date I have and continue to enjoy the full support and collaboration of the Senior Staff Association in carrying out the vision for this company. We also brought to bear the indigenization of our workforce.”

Dr. Asante said. Dr. Asante also charged the Association with considering not only the welfare of the employees, but also the welfare of the company.

Mohammed Amin Adam, Deputy Minister of Energy, emphasized that the ministry is developing a National Energy Transition plan for the country.

“The ministry of energy under the dynamic leadership of Dr. Mathew Opoku Prempeh has embarked on a process to develop a national energy transition plan for Ghana in response to the global movement towards Net Zero emission.

Natural Gas is therefore being considered by the government as a transition fuel which will continue to be a part of our integrated energy industry.”

He said Hon. Amin Adam also commended the Board, Management and workforce for making Ghana Gas a key contributor to the Energy Value Chain and urged to ensure that the government’s vision of constructing a second processing plant become a reality.

Richmond Alamu, Chairman of the SSA, stated that the association

will forever be grateful to the Board, Management, and CEO of Ghana Gas for their efforts and contributions in indigenizing the workforce of Ghana Gas.

He also pleaded with Ghana Gas’ employees to always consider the companys’ vision as a priority and work toward achieving it.

12

| NEWS

FRIDAY, JULY 22, 2022

Thanks to digital marketing, every entrepreneur can go global

By Elyse Estrada, Global Chief Marketing Officer, Aleph Group, Inc

The dream of every entrepreneur is to have a global customer base. After all, nothing shows you’ve made it like people all around the world buying your products or digital services. Until recently, getting to that point was reserved for a select few who manage to expand outward after saturating their home markets.

Today, thanks to ecommerce and digital marketing in particular, even entrepreneurs in niche fields can build a global customer base. Whether they’re building an online fashion empire or selling handcrafted designer decor, an entrepreneur in Accra or Lagos can compete on a global scale with their counterparts in Paris or New York.

To ensure that they have the best chance of doing so, however, it’s critical that they market themselves on the most relevant online platforms with the highest reach of potential consumers.

The growth potential of

emerging markets This growth opportunity is especially true for entrepreneurs targeting emerging markets with rapidly growing online populations. Nigeria, for example, is set to add 35 million new internet users by 2026, according to Statista. In Ghana, meanwhile, World Bank figures indicate that 58% of the population is online, with the number of internet users having grown more than six percent between 2020 and 2021.

Not only does this opportunity for growth exist from industry momentum, it also exists from demographic dynamics. Both of these markets have incredibly young populations. In Ghana, the median age is 21 and in Nigeria, it’s a shade over 18. As populations in the rest of the world age out, it’s to these often underserved markets that businesses around the world will look to for growth.

This young population is increasingly becoming techsavvy and connected. They want and expect the same kinds of consumer experiences they see their counterparts in other parts of the globe having. This means that with the right messages on the right platforms, businesses can reach these consumers and make sales, no matter where they might be based.

But these young people are also looking to develop their digital skills so they can seek careers in the high-growth industries that promise economic advancement.

In Nigeria, for example, the Digital Development Program Trust Fund estimates that 35% to 45% of jobs will require some level of digital skill.

These same young people are also entrepreneurial and have a growing pool of successful entrepreneurs from across the region and continents to draw inspiration from. Outside of the tech unicorns like Flutterwave, Jumia, and Wave there are local entrepreneurs in fields as diverse as fashion, healthcare, and decor who have proven that with more equal access to the digital marketing ecosystem, it’s possible to expand regionally and internationally, ultimately building businesses that thrive at a bigger scale and enrich the rest of the world through their products and services.

Building the right skills through access to digital media education In order for that to happen at scale, they also need the requisite skills to market themselves online in whatever markets they want to reach. At the very least, those entrepreneurs should have easy access to people with those skills.

It’s important to note here, that these aren’t just fundamental digital marketing skills, but ones that relate to the specifics of marketing on the world’s leading digital advertising platforms such as Twitter, Snapchat, and Spotify where people across the globe spend most of their time online.

With the right types of messages, these platforms are the most effective places to reach new customers across a broad range of markets.

This is something that we’re passionate about at Aleph Group and is the reason we launched our Digital Ad Expert programme, which aims to educate, certify and connect thousands of Africans

with the digital skills needed to succeed in a rapidly digitising economy. While it’s entirely possible that someone with the right degree of determination and curiosity could develop those skills on their own, it’s critical that more and more resources are accessible to build them up at scale.

This is crucial to ensuring that markets such as Ghana and Nigeria aren’t just growth targets for international companies, but incubators for a new generation of entrepreneurs capable of competing on a global level themselves.

Turning small businesses into international players Fortunately, there is a strong base of small businesses across the region with untapped potential. With the requisite skills, those businesses will be ready to take the next step and globalise their customer base.

In Nigeria, for example, SMEs contribute 48% of national GDP, account for 96% of businesses and 84% of employment. And in Ghana, it’s estimated that more than 90% of the country’s businesses are SMEs, employing 60% of the labour force and accounting for 70% of the country’s GDP. If even just a small fraction of those SMEs are able to build international customer bases they’ll unlock and drive economic growth in these growing countries, bringing momentum for the next wave of entrepreneurs.

Thanks to currently available digital marketing tools and increasing access to digital marketing skills, that’s entirely achievable too.

(both in sharing experiences and in giving products that create a more attractive museum) that can be showcased in internal (enhancing organizational pride) and external platforms. This way a firm can illustrate the relevance of its products and underlying knowledge in a non-commercial context. Second, it enables a firm to test the application of insights and products in a market that opens up avenues in other market segments. This is not only relevant from a PR perspective. It also acts as an important catalyser in learning processes, and helps to prepare employees to deal with the different market demands they experience in the museum context. This will enable them to be better prepared for new challenges they will have handle in the near future in an eternally changing market environment their company is in.

With the above research finding, we don’t need to reinvent the wheel. Let all support by visiting the museums and let the manager learn the right strategies and let the businesses also support.

Today news came that Ghana is the seconds most people country in Africa and this is another positive news for our tourism and Ghana as a whole.

+233(0)244295901/0264295901.

Visist our social media sites Facebook, Twitter and Instagram: FoReal Destinations

Continued from page 10 sponsoring than the museums.

What can companies learn from museums in the area of reputation management?

1. Museums have already applied purpose-driven strategies before the word was even discovered in the business world. Museums are rooted in a tradition of serving the public by protecting the national heritage and enthusiastically promoting the enjoyment of seeing these treasures. The authentic way in which museums express their role in society in combination with taking the educational and protection of national heritage role seriously should be a source of inspiration for the business world.

2. Joining forces with a museum is a typical win-win situation which can add tremendous value to a company as it opens up two types of opportunities. First, it enables a firm to share knowledge

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 w w w. f o re a l d e s t i n a t i o n s . com or call or WhatsApp

13

| NEWS

FRIDAY, JULY 22, 2022

Gov’t to develop carbon market policy…generate revenue, halt climate change

By Eugene Davis

The Minister of Lands and Natural Resources, Samuel Abu Jinapor has confirmed that government is engaging to develop a carbon market policy aimed at transacting sector carbon sales and purchases, determine the price to transact a tonne of carbon dioxide equivalent of green house gas emission reductions and removals.

During the COP 26 in Glasgow last year, Ghana signed a Letter of Intent with the Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition, as a first step towards the signing of a binding Emission Reductions Purchase Agreement, to access the funds, to support our forestbased climate actions in the Voluntary Carbon Market.

According to the minister, though these initiatives exist and

Ghana has entered into Emission Reductions Payment Agreements, the country does not have a Carbon Trading and/or Market Policy nationally, nor for the Forestry Sector.

Presenting a statement on the floor of parliament on Thursday, he stated that “government is, therefore, engaging to develop a Carbon Market Policy that

will, among others, define the context within which to: develop the Institutional Framework for approvals and No-Objection seeking within and across sectors for Carbon Sales and Purchases for both Government and Private Sector engagements; set-up a Carbon Market Framework and define which projects/programs to place on the Voluntary or Compliance market.”

A domestic framework, he says allows the approval and registration of mitigation initiatives which are necessary for participation in the market-based and non-market cooperation approaches of Article 6 of the Paris Agreement. Some companies have already taken advantage of the situation to enter into unverified Carbon claims and transactions within their supply chains.

In the absence of a wellcordinated policy and instritutional framework, those involved in this trade are adopting adhoc and need-based approaches. To capitalise on opportunities in the global carbon market, we must strengthen our institutional capacities, and develop an authorisation process for international transfers.

Further, he added that treating the nation’s carbon stock as

a precious commodity and applying similar regulatory and policy framework can create the right environment for this new sector to thrive.

Apart from its contribution to global climate action, the carbon market is growing, exponentially, in value. Last, year, for instance, the value of traded market for carbon dioxide grew by one hundred and sixty-four percent (164%), to Eight Hundred and Fifty-One Billion US Dollars (US$851,000,000,000).

A properly regulated carbon market will therefore position us to benefit economically from this new market.

Ghana, already, is one of the few countries building endto-end, state-of-the-art digital infrastructure to support their participation in international carbon markets.

The Ministry of Lands and Natural Resources will work with relevant agencies to develop a blueprint for forest carbon transactions, to support the carbon market. This blueprint will lead the way for other sectors to develop their Carbon Market Policies and Strategies and eventually lead to a National Carbon Policy with the requisite Legislative Instrument for full operationalization.

Boost Technology to receive share of $1 million Mastercard Strive Community grant to support small businesses in Ghana, Nigeria and South Africa Boost Technology, a retailerfirst e-commerce platform, was announced as one of eight global winners of Strive Community’s inaugural round of its Innovation Fund.

Boost Technology, a company working with retail entrepreneurs across Ghana, Nigeria and South Africa, will receive a grant of US$125,000 towards their work trialling a new service (Project IKE) that combines data analysis, behavioural science and conversational commerce to provide small retailers with customer insights making them more resilient.

Boost Technology celebrates the opportunity presented by the Innovation Fund grant, enabling it to trial Project IKE in Nigeria before replicating it in Ghana and South Africa. Koye Oyeyinka, Co-Founder and CCO of Boost Technology, said, “Strive

Community’s support will allow Boost to design and test a new digital service that empowers micro and small convenience retailers with business insights.

The prize will allow us to extend our R&D capacity and accelerate the launch of retailer-facing features to power the growth of our small business users.”

Small businesses, like the ones being supported by Boost Technology’s innovations, are essential agents of inclusive growth, with estimates indicating that 70% of total employment worldwide are provided by small economic units. This is even more prevalent in lowincome countries, with around 90% of employment stemming from businesses with under 10 employees . Boost Technology, alongside the seven other awardees, is transforming how small businesses operate – and

are supported – in a world that is rapidly digitizing.

The inaugural round of the Innovation Fund awarded seven other innovative, digital, data-first projects from around the globe, totalling $1 million in grants. The other innovative ideas being supported by the Innovation Fund include creating virtual reality experiences to upskill small businesses in Brazil’s favelas, building positive money habits for individuals and small-businesses, and streamlining access to credit for small-businesses.

Strive Community is a global program launched by the Mastercard Center for Inclusive Growth, in partnership with Caribou Digital. The program is focused on strengthening the resilience of small businesses and supporting their growth. The Innovation Fund was established to spark truly innovative, digital,

and data-first solutions that will boost small businesses’ efforts to go digital.

“Digital technologies are rapidly transforming the way businesses interact with their customers, with their employees, and with a global marketplace,” said Shamina Singh, President of the Mastercard Center for Inclusive Growth.

“These Innovation Fund grantees are all introducing creative solutions that have potential to not only ease the challenges of digitization for small businesses, but unlock its promise, enabling them to grow and thrive.” continued on page 14

14

| NEWS

FRIDAY, JULY 22, 2022

Roadbond EN 1, American chemical soil stabilizer enters Ghanaian market

Green innovation and an American award-winning product, Roadbond EN 1 Chemical Soil Stabilizer, has been introduced onto the domestic market by JEMBA Solutions Limited giving boost to the fastgrowing construction and real estate sector.

Roadbond EN 1 is an ecofriendly soil stabilizer which is used to soothe clay, laterite and black cotton sub-grade soils and to strengthen and improve base materials in the soil treatment process.

It is a chemical soil stabilizing product that is able to alter the ability of clay, laterite and black cotton soils to hold absorbed water whilst releasing weakly ionized water with strongly ionized sulphate radicles and it is ideal for use in the construction of roads and parking lots.

Roadbond EN 1 Technology and Full-Depth Reclamation (FDR) on a paved road exhibiting

significant distress makes the reconstruction of older roads mostly a self-sustaining process.

Roadbond EN 1 Technology and Full-Depth Reclamation (FDR) on an unpaved road is environmentally friendly and less hazardous and can be utilized in base and sub-base stabilization.

Roadbond EN 1 Technology in the construction of a New Road, with the right dosage of Roadbond EN 1 combined with Portland cement and Water gives the best result.

Managing Director of JEMBA Solutions Limited, sole distributor of the product in Ghana, Africa and Australia, Dr. Emmanuel Owusu, indicated that the product offers great value for money for businesses in the construction sector.

“Roadbond EN 1 offers significant savings because of less use of imported sub-base and base materials and it also relies on available soil on site whilst the

lifespan of the road increases by up to 16 years,” he said.

When applied to soil surfaces, Roadbond EN 1 re-crystallized mineral salts and natural cements form an effective bond that results in improved strength, loadbearing capacity and durability.

It can be used in place of lime to stabilize clay, laterite and black cotton, sub-grade soils offering reduced water use, energy consumption and carbon emissions and can also be applied to enhance the effectiveness of conventional stabilizers such as Portland cement and fly ash.

Dr. Owusu further indicated that roads treated with the product could be used within 24hours, saves time and money and also environmentally friendly.

He said the company will work closely with Ghana Highways Authority, Departments of Urban and Feeder Roads, and private road construction firms to train personnel on the right use and

application of the product.

“JEMBA will supply two technical experts from the United States to assist in applying the Roadbond EN 1. In addition, they will train engineers of the Ghana Highways Authority, Departments of Urban and Feeder Roads and contractors,” Dr. Owusu added.

Roadbond EN 1 can also be used to encapsulate and confine oil base drill cuttings to provide long-term prevention of leaching of heavy metals and petroleum hydrocarbons into the environment.

As a green product, it offers more compatibility and density with less project carbon footprint, reduces swelling in clay, laterite and black cotton soils as well as proven reductions in the use of water, energy and greenhouse gas emissions compared to other conventional soil stabilizers on the market.

improved financial management and financial decision-making by small business owners.

• XR Global, Brazil Testing the potential of virtual reality (VR) to upskill small businesses, by bringing learners into immersive experiences.

• Open Contracting Partnership, USA/Colombia Creating a marketplace that leverages open data about government contract awards to seamlessly connect small businesses winning contracts with financial institutions who can offer them credit.

• FUNDES & Argidius, Mexico, Guatemala, Peru, Colombia Connecting traditional merchants to the most appropriate digitization tools by creating a marketplace.

• ChatGenie, Philippines Building new features that reduce friction in the sales process for small businesses selling via social

commerce. The solution also enables management of multiple social commerce channels within a single app.

• Boost Capital, Cambodia Scaling up smartphone enabled loans and financial education, and jumpstarting the creation of a virtuous cycle in which businesses

which engage in digital financial education are rewarded with better access to financial services.

Small businesses can learn more about the Strive Community, funding, and partnership opportunities by visiting www.strivecommunity. org and signing up to receive email updates.

Continued from page 13 The two winning organisations from across Africa, which were chosen from more than 650 applicants globally, are as follows: • Novek, Kenya An Internet-of-Things enabled dispensing machine for powderbased goods, to reduce stock outs, increase sales by dispensing in quantities customers can afford, and eliminate single-use packaging • Boost Technology Ltd, South Africa, Nigeria Trialling a new service that combines data analysis, behavioural science and conversational commerce to empower small retailers with insights to make them more resilient.

The other winners hail from Latin America and South East Asia, and are as follows: • Flourish FI, Brazil Using behavioral insights, open banking data combined with tried & tested game-mechanics to drive

15

| FEATURE

FRIDAY, JULY 22, 2022

Rate hikes alone won’t curb inflation

By Pinelopi Koujianou Goldberg As inflation in the United States reaches new heights, economists are debating how high the Federal Reserve will need to hike interest rates to curb demand and rein in price growth. Some commentators believe that the Fed will need to be as aggressive as Fed Chair Paul Volcker in the early 1980s, who ended up raising interest rates to as high as 20%.

Such figures understandably raise concerns that the effort to contain inflation will result in a recession and a sharp increase in unemployment.

As a recent Peterson Institute for International Economics policy brief observes, reductions in job vacancies engineered through contractionary policies empirically go hand in hand with increases in unemployment.

Worse, while interest-rate hikes would likely increase unemployment over time, they will be insufficient to rein in inflation in the short run. Recent price increases may have been triggered by extraordinarily high demand following the pandemic, but supply-side factors – especially labor shortages and the energy crisis caused by Russia’s war in Ukraine – have also played a significant role. Inflation cannot be contained unless these factors are addressed, too.

The situation calls for three supplementary initiatives. First, the conflict in Ukraine must be de-escalated. Although the war did not “cause” inflation, it has certainly contributed to rising prices – especially in the food and energy sectors – by exacerbating

shortages that were previously expected to recede as COVID-19 restrictions were lifted.

As long as the war continues, energy and food prices will remain high, and uncertainty will keep rattling markets. Trade flows may be reoriented to phase out energy imports from “unfriendly” countries (to use the current jargon); but such realignments cannot happen fast enough to ease the current food and energy shortages. While diplomacy could still de-escalate the conflict (given that all sides have strong incentives to do so), time is running out. With each passing week, a face-saving settlement becomes harder to reach.

Second, America needs to move past COVID-19 in order to address labor shortages in specific sectors.

Vaccines are widely available and have been shown to prevent serious illness in most cases. It is past time to abandon rules requiring workers to take multiple days off if they test positive, even when they are asymptomatic.

Such policies have resulted in severe bottlenecks in key sectors, with the airline industry being a prominent example.

Third, the US urgently needs policies to push its labor force participation rate back up to its preCOVID level. Many commentators have drawn parallels between the current economic environment and the stagflationary 1970s. But one feature that is unique to our time is the “Great Resignation.”

The pandemic has left Americans tired, demoralized, and unwilling to accept work that doesn’t meet a

higher standard of job satisfaction.

People are increasingly demanding “good jobs” with decent pay, benefits, and security (which often means that they are sheltered from unbridled foreign competition). But these are not the kinds of jobs that many firms offer. Plenty of essential jobs are neither particularly lucrative nor satisfying – whether it be loading and unloading trucks or container ships, washing dishes and bussing tables in restaurants, or working in construction or heavy manufacturing. Moreover, even high-paying finance and tech jobs in New York and San Francisco may fall short of workers’ expectations if they require long daily commutes.

In a tight job market, it is not surprising that more Americans are saying “no” to work they perceive as unpleasant. But someone has got to do it, and for every American who upgrades their job or drops out of the labor force, there are several immigrants who would be happy to do the work that has been left behind.

These immigrants, by definition, do not take work away from Americans; rather, they provide a net benefit to the economy. And the same goes for international trade, which can ease production bottlenecks and supply-chain shortages – effectively “importing” labor without immigration.

Unfortunately, US President Joe Biden’s administration has stuck with much of the protectionist rhetoric used by its predecessor.

Promising American workers well-paid, secure jobs, the

administration has done little to increase immigration or permit more foreign competition, thus contributing to today’s labor shortages. We have been reminded once again that protectionism ultimately harms the very people that it is supposed to help – especially during periods of supply-side shortages.

This cool-headed economic logic may sound inconsistent with progressive ideals and the Biden administration’s commitment to empowering American workers.

But we need to remind ourselves what is at stake here. High inflation undermines the entire progressive agenda. It makes the average worker worse off, and when it shows up in food and gasoline prices, it is deeply regressive.

Because poorer households must spend a larger share of their limited incomes on basic needs, they fall even further behind the well off.

In an era of rapidly rising interest rates, higher debt-servicing costs will inevitably lead to fiscal spending cuts, including to muchneeded infrastructure investment.

Policies to address climate change and foster green growth are already being abandoned as policymakers focus on alleviating people’s short-run pain (through performative gestures like a gasoline tax holiday). The Biden administration and congressional Democrats are right to be worried about this year’s midterm elections – which makes it all the more surprising that they haven’t embraced supply-side inflationfighting strategies.

16

| ADVERT

FRIDAY, JULY 22, 2022

Purchase your Application Forms (E-Vouchers) at any of our 114 branches nationwide.

TERMS AND CONDITIONS APPLY UNIVERSITY OF EDUCATION, WINNEBA

GARDEN CITY UNIVERSITY COLLEGE

UNIVERSITY OF CAPE COAST

PRESBYTERIAN UNIVERSITY COLLEGE

METHODIST UNIVERSITY COLLEGE GHANA

TAKORADI TECHNICAL UNIVERSITY

AKENTEN APPIAH-MENKA UNIVERSITY

UNIVERSITY OF MINES AND TECHNOLOGY

UNIVERSITY OF ENERGY & NATURAL RESOURCES

VALLEY VIEW UNIVERSITY BASIC SCHOOL

GIMPA GHANA COMMUNICATION TECHNOLOGY UNIVERSITY

UNIVERSITY OF GHANA MOUNTCREST UNIVERSITY COLLEGE

UNIVERSITY OF ENVIRONMENT AND SUSTAINABLE DEVELOPMENT

cbgbankltd Tel: +233 (0)302 21 6000 www.cbg.com.gh

| FEATURE

FRIDAY, JULY 22, 2022

17

Mapping public health risk

The African Union (AU) passed a resolution at its headquarters in Addis Ababa, Ethiopia, in July 1987, to observe June 30 every year as the Day of Scientific Renaissance of Africa (DSRA).

The move has been to renew interest in the understanding, documentation, and application of science and its related technology to facilitate our social livelihood and economic advancement.

As part of activities commemorating the occasion, the Department of Geography and Resource Development (DGRD) under the College of Humanities, University of Ghana (UG) organised a seminar on the theme: “Geography, the science of space and time”, on June 15, 2022.

It was preceded by the launch at the university-wide level, on June 1, in line with the core mandate of the department to provide exemplary leadership and academic excellence in the development and innovative transfer of knowledge acquired through rigorous scientific investigations.

These are typically in the areas of bio-physical and human environment, population dynamics, climatology, geomorphology, cartography,

Remote Sensing and Geographical Information Systems (RS/GIS), community development, agriculture, and various aspects of ecology, community planning, earth science (geology), environmental sanctity, land use, nutrition, and public health.

The climax of the celebration occurred on June 30, with a panel discussion of issues discussed.

GIS It was most intriguing for me to know through the presentations made, of the existence of Geographic Information System (GIS), a high-tech facility that creates, manages, analyses and maps data, on farmlands, water bodies, drainage systems, wet lands, etc.

This means it connects data to a map, integrating location data with relevant descriptive information. This provides a foundation for mapping and subsequent analysis.

The obvious benefits include improved communication and efficiency, as well as better management and decisionmaking.

One unique story that public health students will be told often is that of Dr John Scow, one of the founding fathers of modern epidemiology.

During a major cholera

epidemic in 1854 in London, he collected and mapped data on the locations (by street addresses) where cholera deaths occurred.

His approach appeared slow and laborious, but, according to the literature, it ultimately led to the identification of the epidemic’s source – a contaminated public water source.

Another interesting example is Dr Cicely Williams, a Jamaican physician, who described the clinical features of “kwashiorkor” in the medical literature, somewhere in 1933.

Her classic writings were based on her close observation of cases reported at the children’s hospital, the Princess Marie Louise, (PML) in Accra.

Through her research, she named the disease “kwashiorkor”, a Ga language coinage depicting the “disease of the deposed child”.

In other words, the disease that Kwashie (male first born) gets when Korkor (female second born) comes too early”; because the attention that Kwashie was receiving from the household will be shifted to Korkor, by virtue of the unfortunate fact that the latter is the “latest arrival”.

It has been corrupted over time to its present pronunciation of “Kwashiorkor”.

Mapping health risk

Epidemiological data and the available analytical geographic methods have enormous utility in public health. We should strive to clarify their relevance and positively project their role in informing decision-making.

Geographical studies (like those in epidemiology and public health) assess the causality of observed associations; estimate their magnitude, uncertainty and any dose–response relationship.

They also ascertain and evaluate whether or not any observed effects apply to individuals and/ or populations, and effectively communicate their findings.

The analytical methods for disease mapping, cluster investigation, ecological and environmental analyses, putative risk factor assessment and surveillance activities must be continually evaluated and updated when necessary, with serious collaboration among professionals in the specialised fields of geography, applied statistics, nutrition, medicine, public health, politics and the media.

The writer is a Harvard-trained freelance writer on science and public matters. E-mail: wbowusu2021@gmail.com

18

| MARKET REVIEW

FRIDAY, JULY 22, 2022

WEEKLY MARKET REVIEW FOR WEEK ENDING - JULY 15, 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

21.15%

Inflation for February, 2022

29.8%

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 weakened for the second consecutive week on the back of price declines by 3 counters. The GSE Composite Index (GSE CI) lost 74.41 points (-2.93%) to close at 2,464.13 points, reflecting year-to-date (YTD) loss of 11.66%. The GSE Financial Stocks Index (GSE FI) on the other hand remained flat to close at 2,163.03 points, reflecting year-to-date (YTD) gain of 0.52%.

Market capitalization dropped by 1.33% to close the week at GH¢63,748.50 million, from GH¢64,609.70 million at the close of the previous week. This reflects YTD decrease of 1.16%.

Trading activity recorded a total of 60,044,310 shares valued at GH¢54,548,444.78 changing hands, compared with 1,870,896 shares, valued at GH¢1,822,836.80 in the preceding week.

MTN dominated both volume and value of trades for the week, accounting, for 99.68% and 91.89% of volume and value of shares traded respectively.

The market ended the week with no advancer and 3 laggards as indicated on the table below.

THE CURRENCY MARKET The Cedi continued its downward trend against the USD for the week. It traded at GH¢7.3845/$, compared with GH¢7.3045/$ at week open, reflecting w/w and YTD depreciations of 1.08% and 18.67% respectively.

This compares with YTD depreciation of 0.63% a year ago.

The Cedi however strenghtened against the GBP for the week. It traded at GH¢8.7577/£, compared with GH¢8.7946/£ at week open, reflecting w/w gain and YTD loss of 0.42% and 7.20% respectively. This compares with YTD depreciation of 1.47% a year ago.

The Cedi lost grounds to the Euro for the week. It traded at GH¢7.4499/€, compared with GH¢7.4421/€ at week open, reflecting w/w and YTD depreciation of 0.10% and 8.35% respectively. This compares with YTD appreciation of 3.18% a year ago.

The Cedi also weakened against the Canadian Dollar for the week. It opened at GH¢5.6454/C$ but closed at GH¢5.6671/C$, reflecting w/w and YTD depreciations of 0.38% and 16.33% respectively. This compares with YTD depreciation of 1.66% a year ago.

FRIDAY, JULY 22, 2022

19

| MARKET REVIEW

BUSINESS TERM OF THE WEEK Shell Bank: Shell bank means a bank that has no physical presence in the country in which it is incorporated and licensed, and which is unaffiliated with a regulated financial group that is subject to effective consolidated supervision.

Source: https://www.fatf-gafi.org/glossary/s-t/

ABOUT CIDAN

COMMODITY MARKET Crude Oil prices declined for the week on the back of fears that further hefty interest rate hikes, primarily by the Federal Reserve, will severely hit global economic growth and thus oil demand. Brent futures traded at US$99.63 a barrel on Friday, compared to US$107.02 at week open. This reflects a w/w loss and YTD gain of 6.91% and 28.09% respectively.

Gold prices fell with expectations growing that the U.S. Federal Reserve could hike interest rates more aggressively this month to fight red-hot inflation. Gold settled at US$1,699.75, from US$1,742.30 last week, reflecting w/w and YTD losses of 2.44% and 7.05% respectively.

Prices of Cocoa also dropped for the week. The commodity traded at US$2,267.00 per tonne on Friday, from US$2,269.00 last week, reflecting w/w and YTD losses of 0.09% and 10.04% respectively.

INTERNTIONAL COMMODITIES PRICES GOVERNMENT SECURITIES MARKET Government raised a sum of GH¢1,150.89 million for the week across the 91-Day and 182-Day Treasury Bills.

This compared with GH¢1,321.84 million raised in the previous week.

The 91-Day Bill settled at 25.96% p.a from 25.89% p.a. last week whilst the 182-Day Bill settled at 27.46% p.a from 26.55% p.a. last week. The table and graph below highlight primary market yields at close of the week.

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 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.

L imited Copyright @ 2019 Business24 Limited. All Rights Reserved.

Your subscription along with the support of businesses that advertise in Business24 -- makes an investment in journalism that is essential to keep the business community in Ghana wellinformed.

We value your support and loyalty.

Contact: editor@business24.com.gh Newsroom: 030 296 5315 Advertising / Sales: +233 24 212 2742

WWW.BUSINESS24.COM.GH

|

NO. B24/317 | NEWS FOR BUSINESS LEADERS

FRIDAY, JULY 22, 2022

2G2 SHS School mates reunite after 20 years

By Eugene Davis

Hundreds of school mates and friends who last saw each other 20 years ago have reunited at a ceremony last weekend at Aburi.

School mates and friends met through an official launch of a collaborative health walk under the auspices of main organizer, Komla Schwinger alias Conda of Ghana National.

According to Mr.Schwinger, the idea was to bring classmates together after 20 years from school to network, reconnect and let their hairs down.

He also added that the health walk was a build up to a main event, the 2002 SSS 20TH Anniversary Celebrations christened “September 2 Remember slated for 24 and 25.

On the day, several secondary schools from the length and breadth of the country participated, including Adisadel College, Mfantsiman Girls Secondary School, Aburi Girls Secondary, Presbyterian Boys Secondary, Accra Academy, Ghana National College, St.Augustine’s College, Mfantsipim School, St.Thomas Acquinas, Holy Child

and St.Mary’s Senior High School all reconnected over food, and drinks.

The friends, who had not seen each other since they were 18, said they had been “filling each other in on the rest of our lives”.

“It was lovely to bump into Sor Blay again and we had some fascinating chats, remembering what we had got up to at school,” said Theophilus Bonney Mensah, an old boy of Adisadel College.

“I do remember that at school, Sor Blay was definitely the cheeky one,” he added.

An old girl of Mfantsiman Secondary School, Eugenia stated “I was overwhelmed with the turn out and certainly it was reminiscing school days with my mates and friends from other schools”.

This was the first reunion of the class of 2002 of the SSS era - a class with lawyers, business moguls, journalist, administrators, engineers,bankers, architects, physicians among others.

After 20 years, the mates and friends gathered to pay tribute to one another and made merry.

EDITOR: BENSON AFFUL editor@business24.com.gh | +233 545 516 133.

PUBLISHED BY BUSINESS24 LTD. TEL: 030 296 5297, 030 296 5315.