Business24 Newspaper 13 June 2022

The virus is still winning

By William A. Haseltine

//STORY ON PAGE 5

AGRA unveils SeedSAT to boost farmers’ access to quality seeds

By Patrick Paintsil

M O N DAY, JU N E 1 3, 202 2

BUSINESS24.COM.G H

GIPS takes steps to curb ‘cost bleeding’ in procurement sector

//STORY ON PAGE 4

NEWS FOR B U SINESS LEA DERS

Green Ghana Day: Prudential Bank plants trees and donates to Forestry Commission //STORY ON PAGE 3

By Patrick Paintsil The Ghana Institute of Procurement and Supply (GIPS), a central organization for professionals, practitioners and students of the procurement and supply chain profession in Ghana, has organized a capacity enhancement workshop in the writing of specification and bill of quantities for its members in Accra.

About 25 participants comprised of officials of public sector institutions, corporate entities and top-level

procurement practitioners took part in the three-day hybrid capacity building programme.

According to the president of the institute Collins Agyemang Sarpong, the workshop was to empower procurement officers and practitioners in one critical aspect of procurement that could help them to save cost and ensure value -based procurement practice in their respective organisations. //MORE ON PAGE 3

World’s most vulnerable are paying more for less food //STORY ON PAGE 3

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News/Editorial

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A collective climate action Today, June 10, 2022, public and private sector institutions and all well meaning Ghanaians will partake in the president’s climate action initiative dubbed “Green Ghana” to plant tress across the length and breadth of this country.

The 2022 edition of the Green Ghana Day was launched on 1st March,2022 by the President of the Republic under the theme ‘’Mobilizing for a Greener Future’’ with a target to plant at least 20 million tree seedlings nationwide.

The Green Ghana Project is aimed at planting hard wood, which could be used for timber in 10-20 years. It is expected that this exercise will improve the vegetation and forest cover as over 80 percent of this cover has been destroyed by human activity, the minister said at last year’s tree planting exercise.

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Digitalisation has announced to plant orange trees, decorative palm trees, coconut trees, mango trees, pawpaw trees and more at its enclave as well as other premises of the various agencies.

The initiative forms part of the efforts by the Ministry of Lands and Natural Resources (MLNR) and the Forestry Commission to encourage Ghanaians to plant more trees to preserve and protect the country’s forest cover and the environment in general.

The effects of climate change are dire and consequential with rippling impact on every sphere of the economy as already being witnessed in the agrarian sector.

We urge the general public to join the Green Ghana initiative as we seek to restore the nation’s ever depleting vegetation, protect the environment and take the fight to climate change.

GIPS takes steps to curb ‘cost bleeding’ in procurement sector

By Patrick Paintsil

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“Proper procurement starts with specification or needs identification but that it has been left for persons in various user departments to carry it out for procurement units to base on that to issue tender notices.

Because of this gap, procurement people cannot mostly raise questions some costly items or specifications as a means of saving cost to their organizations and ensuring value for money transactions,” GIPS President Collins Agyemang Sarpong, told journalists at the end of the training session.

According to Mr. Sarpong, there is the need for procurement officers to understand the specifications that are listed in tender documents instead of going with whatever is provided by the user departments.

“When it comes to works, over 80percent of procurement persons cannot read bill of quantities and are therefore unable to ask the relevant related questions such as the value proposition.

We see it as a capacity gap so this training program was to help close this gap for our members and practitioners.

Apart from adhering strictly to the processes of procurement, the GIPS boss tasked professionals in the field to build their capacity and understanding in other critical aspects such as the writing of specifications and bill of quantities to tackle cost bleeding in the public sector.

The three-day capacity building workshop was to bridge the capacity gap among public and private procurement and supply professionals and practitioners in the writing of specifications and bill of quantity.

Ms. Charlotte Adubea Gyau, a participant from Parliament House shared that the three-day training was very insightful and empowering.

“This program has given me an indepth knowledge about specification and bill of quantities as key elements in the procurement process. The fact that figures could be bloated or under-quoted based on design or specifications,” she told Business24.

She added: “I didn’t know much about this initially but this training has made me understand that procurement professionals should

be more interested in these aspects of procurement. I’ll recommend this training for other practitioners to empower them to go about their obligations more efficiently and professionally.”

According to another participant Seth Godwin Fianoo from the National Health Insurance Authority (NHIA) said the new knowledge that he has acquired will enable him to interrogate specifications and BOQs save cost to his organization.

“Most procurement people do not have much knowledge about specifications and therefore do not have anything to do when they go to sites except to pay the bills that are pushed to us. This course has enlightened me; I can now ask the right questions that will help me to save cost to my organization.

GIPS says it is dedicated to promoting high standard of integrity and probity in respect of the procurement and supply chain practice through the provision of a wide range of services that are beneficial to both members and the business community.

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MONDAY, JUNE 13, 2022

Green Ghana Day: Prudential Bank plants trees and donates to Forestry Commission Prudential Bank joined several Ghanaians last Friday to plant trees as part of activities to mark this year’s Green Ghana Day. The move is part of the bank’s commitment to contribute to collective efforts in restoring the country’s forest cover and sustaining the environment.

Senior management and staff of the bank planted trees in the Achimota Forest Reserve in a bid to restore degraded parts of the Forest Reserve. The bank also presented an undisclosed sum to the Forestry Commission to support the wider objectives of the afforestation and reforestation program under the Green Ghana Project.

Speaking at the tree planting exercise, Managing Director of Prudential Bank, John K. Addo reaffirmed the bank’s commitment to supporting the country’s sustainability initiatives.

He said “the Green Ghana project is a commendable initiative by the government which provides an opportunity for championing reforestation. Ghana’s forest cover has depleted over the years and it is imperative for us to take the necessary action to address it” Officials from the Forestry Commission thanked Prudential Bank for their commitment to the country’s Green Ghana and other sustainability initiatives and called on other stakeholders to support the project.

Launched late last year under the auspices of the Ministry of Land, Water and Natural Resources, the Green Ghana initiative seeks to mobilize Ghanaians and other stakeholders in a bid to preserve the environment and depleting forest reserves. The goal this year is to plant 20 million trees nationwide.

World’s most vulnerable are paying more for less food The global food import bill is on course to hit a new record of US$1.8 trillion this year, but higher prices and transport costs rather than volumes account for the bulk of the expected increase, according to a new report released today by the Food and Agriculture Organization of the United Nations (FAO).

“Worryingly, many vulnerable countries are paying more but receiving less food,” FAO says in its latest Food Outlook.

The global food import bill is projected to rise by $51 billion from 2021, of which $49 billion reflects higher prices. Least Developed Countries (LDCs) are anticipated to undergo a 5-percent contraction in their food import bill this year, while sub-Saharan Africa and the group of Net Food-Importing Developing Countries are both expected to register an increase in total costs, despite a reduction in imported volumes.

“These are alarming signs from a food security perspective, indicating that importers will find it difficult to finance rising international costs, potentially heralding an end of their resilience to higher prices,” the report notes.

“In view of the soaring input prices, concerns about the weather, and increased market uncertainties stemming from the war in Ukraine, FAO’s latest forecasts point to a likely tightening of food markets and food import bills reaching a new record high,” said FAO economist Upali Galketi Aratchilage, lead editor of the Food Outlook.

FAO has proposed a Food Import Financing Facility to provide balanceof-payment support to the low-income countries most reliant on food imports as a strategy to safeguard their food security.

Animal fats and vegetable oils are

the single biggest contributor to the higher import bills expected to be reached in 2022, although cereals are not far behind for developed countries. Developing countries, as a whole, are reducing imports of cereals, oilseeds and meat, which reflects their incapacity to cover the increase in prices.

Issued twice a year, Food Outlook offers FAO’s reviews of market supply and demand trends for the world’s major foodstuffs, including cereals, oilcrops, sugar, meat and dairy and fish. It also looks at trends in futures markets and shipping costs for food commodities. The new edition also contains two special chapters examining the role of rising prices for agricultural inputs, such as fuel and fertilizers, and the risks the war in Ukraine poses for global food commodity markets.

Takeaways World production of major cereals is expected to decline in 2022 for the first time in four years, while global utilization is also seen down, for the first time in 20 years. However, the use of cereals for direct food consumption by humans is not anticipated to be impacted, as the decline in total use is expected to result from lower feed use of wheat, coarse grains and rice.

World wheat stocks are set to increase marginally in the year, mostly due to anticipated build-ups of inventories in China, the Russian Federation and Ukraine.

Word maize output and utilization are forecast to hit new records, associated with greater ethanol production in Brazil and the United States of America as well as industrial starch production in China.

Global consumption of vegetable oils is predicted to outpace production, despite expected demand rationing.

While meat production is expected

to decline in Argentina, the European Union and the United States of America, global output is forecast to expand by 1.4 percent, led by an 8-percent foreseen increase in pig meat production in China, reaching and even exceeding the level before the dramatic spread of the African swine fever virus in 2018.

World milk production is forecast to expand more slowly than in previous years, constrained by falling dairy herd numbers and lower profit margins in several major producing regions, while trade may contract from the elevated level of 2021.

World sugar production is expected to increase after three years of decline, led by gains in India, Thailand and the European Union.

Global aquaculture production is forecast to increase by 2.9 percent while that of capture fisheries will likely expand by 0.2 percent.

Reflecting rising prices of fish, total export revenues from fisheries and aquaculture products are anticipated to climb by 2.8 percent, while volumes seen dropping by 1.9 percent.

Food Outlook offers deeper dives into major agricultural commodities, in particular wheat, maize, rice, the oilcrops complex, as well as dairy, meat, fish and sugar.

Agricultural inputs and the future Along with rising food prices – with the FAO Food Price Index (FFPI) near its all-time high and prices of several staples having registered large runups in the past year – the agricultural sectors are exposed to supply limitations due to rising input costs , in particular for fertilizers and fuels, that could spur further food price rises.

High food prices are typically a boon for producers, as farm profits rise.

However, rapidly rising input costs – associated with rising energy costs and export restrictions on key fertilizers

imposed by major players in the sector – are more than offsetting that, and if protracted, this would raise concerns about whether supply responses can be both quick and sufficient. “The spike in the price of inputs raises questions about whether the world’s farmers can afford to buy them,” Josef Schmidhuber and Bing Qiao of FAO’s Markets and Trade Division note in their special chapter on the dynamics of high input prices.

Farmers may reduce input applications or switch to crops that are less input-intensive, which would not only lower productivity but also have negative effects on exports of key foodstuffs to the international markets, adding to the burden faced by countries highly reliant on imports to meet their staple food needs.

This also applies to major exporting countries, the report adds, noting that, for instance, some North American farmers are shifting from maize to soy, which requires less nitrogen fertilizer.

The Global Input Price Index (GIPI), a new tool introduced by FAO in 2021, is now at an all-time high and has risen even faster than the FAO Food Price Index over the past 12 months.

This points to low (and falling) real prices for farmers, despite the higher prices faced by consumers. That, in turn, stymies incentives for them to step up production in the future. For that to happen, however, either the GIPI has to fall or the FFPI has to rise even further – or a combination of the two.

For now, and based on current conditions, the situation does “not augur well for a market-led supply response that could conceivably rein in further increases in food prices for the 2022/23 season and possibly the next,” the report says.

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MONDAY, JUNE 13, 2022

AGRA unveils SeedSAT to boost farmers’ access to quality seeds

By William A. Haseltine Alliance for Green Revolution in Africa (AGRA) has introduced a new seeds management and monitoring system that will enhance the accessibility of improved seeds by smallholder farmers to underpin the nation’s food security efforts.

The SeedSAT is an initiative designed to assess and analyze the current seed systems functionality in some countries in sub-Saharan Africa aimed at identifying the gaps and shortcomings for informed investments to address the identified gaps.

Thematic areas of the SeedSAT system include breeding, variety, release, and maintenance; early generation seed; quality commercial seed production; quality assurance, seed markets, and distribution; farmer awareness and participation; policy, legal and regulatory; and national planning and coordination.

AGRA’s Head of Seed Systems Development, George Birgiwa, told journalists at a validation workshop that the new system

adopts a systematic and holistic approach in assessing seed systems, identifies the gaps and directs the right kind of interventions to Ghana’s seed sector.

According to him, the SeedSAT assessment has already been executed in three of the four targeted countries of Kenya, Uganda, and Malawi.

Director of Agriculture Extension Service at the Ministry of Food and Agriculture, Paul Siameh, said that government recognizes the crucial role of seeds in its flagship ‘Planting for Food and Jobs’ programme.

He pledged the directorate’s commitment in the dissemination of agric-related information including the use of good seeds to enhance food security.

“We will do everything possible to ensure that the proper information on the use of good, improved and viable seeds is encouraged through our various training programmes,” he said.

Chief Executive Officer of the National Seed Trade Association

of Ghana (NASTAG), Mrs. Augusta Nyamadi-Clottey, underscored the relevance of accessing good and affordable seeds: “Seed is the heart of agriculture because, without seed, nothing else would work.”

She said despite the limited arable lands and increasing population, the food system must be able to meet the food demands of the population, noting that one

of the key ways to achieve that is to use quality seeds.

She therefore urged farmers to look out for the right and quality seed to obtain the maximum yield from their farms towards making a profit and feeding the citizenry but said all value chain actors must ensure that quality seeds are readily available at the right price and quantity.

| FEATURE

MONDAY, JUNE 13, 2022

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The virus is still winning

By William A. Haseltine

Once again, COVID-19 is rampaging unchecked through the US population, because there are no longer any public-health measures in place to protect adequately against infection. I myself have taken extraordinary precautions to avoid infection for the last two and a half years, because I met three of the qualifications for severe COVID-19: I am 77 years old; I am a cancer survivor; and for the past 40 years I have been treated for a chronic inflammatory condition that leaves me moderately immunocompromised.

Luckily, I had the privilege of being able to sequester myself in my country home, where I could control my personal interactions.

I was vaccinated within weeks of vaccines becoming available, and I have received boosters every three to four months since. Moreover, I was given Evusheld, a monoclonal antibody treatment, four weeks ago.

Yet, toward the end of May, after many months of seclusion, I permitted myself one social occasion – a fundraising event with about 100 people in attendance.

Four days later, in bed with a fever, cough, and malaise, I tested positive for COVID-19. Even with multiple vaccinations and Evusheld, I was not protected.

My experience has underscored a sad truth. In the race to return to some semblance of normalcy, the needs of the vulnerable have been forgotten.

Given that infection by SARSCoV-2, the virus that causes COVID-19, has now become almost inevitable for most people, the least we could do is develop drug treatments to alleviate disease symptoms and prevent death and long-term consequences. But we have not done so. Pharmaceutical

companies designed and manufactured COVID-19 vaccines on an unprecedentedly accelerated timeline, but drug development has not proceeded apace.

There are three main treatment options for those who develop COVID-19 and are at risk for longterm effects and disability. All three have limitations that prevent wider use. The first is remdesivir, which requires an IV-administered infusion and is thus available only in clinical settings. The second is Evusheld, which its developer, AstraZeneca, claims is effective at preventing infection from the latest Omicron subvariants. However, in my case at least, the treatment failed to work as it should.

The third is Paxlovid, an antiviral drug developed by Pfizer that targets the SARS-CoV-2 protease. Paxlovid gained popularity as a COVID-19 treatment when studies showed that it reduced the risk of serious illness and death by up to 90%.

But research into its prophylactic potential has turned up empty, and new evidence suggests that some who take it experience rebound infections, meaning they might unwittingly transmit the virus to others.

What is to be done? Since the start of the pandemic, I have argued that vaccination alone will not be sufficient to prevent repeated COVID-19 infections. The literature on cold-causing coronaviruses demonstrates that they can reappear like clockwork. And with SARS-CoV-2, waves of infection occur not annually, as I would have expected based on previous data, but rather at much shorter intervals – every four to six months.

In addition to recognizing the limitations of vaccination as a form of pandemic control, we

are becoming more aware of the seriousness of “long COVID,” which describes a broad range of symptoms – respiratory, gastrointestinal, neurological – that persist after an initial COVID-19 infection has cleared.

While more than one-third of COVID-19 patients will develop long-term symptoms of some kind, 2-4% will experience consequences severe enough to be disabling for many months, if not years. These include intense fatigue, persistent pain, and damage to vital organs, such as the heart, lungs, pancreas, and possibly others. Millions of people around the world have long COVID, and millions more will end up with it. Recent data suggest that the vaccines reduce its impact by a mere 15%.

While our path out of the pandemic is not as straightforward as when I was working as an HIV researcher, the overarching direction of travel is still clear. We must develop strong antiviral drugs targeted at SARS-CoV-2 specifically.

Though only six drugs targeting HIV have been identified, we have several treatments that are effective at clearing the virus.

Given the technological advances made in the last 30-35 years, and the speed with which these advances led to a COVID-19 vaccine, I had expected that we would have numerous antivirals for COVID-19 by now. And yet, of the treatments that have been approved, all are retreads or drugs developed for other viruses, not SARS-CoV-2.

What we need now is to repeat the approach that worked during the HIV/AIDS epidemic.

That effort involved a multiyear drug-development program to guide government- and industrysponsored research. As a member

of the National Institute of Allergy and Infectious Diseases Council, I proposed an intensive, cooperative program whereby universities with industrial partners would receive large grants to fund basic research and practical drug development.

The potential for a payoff attracted the interest of large pharmaceutical and biotechnology companies and spurred the formation of several public-private partnerships.

The program was a resounding success, but it didn’t come cheap.

Each year, the National Institutes of Health set aside $2-3 billion in a special HIV/AIDS research budget.

The same level of investment is needed again. My colleagues around the world who have the skills required for intensive COVID-19 research are desperate for additional funding.

To its credit, the NIH recently awarded $108 million in grants to the Metropolitan AntiViral Drug Accelerator, a collaborative initiative by world-class research institutions in New Jersey and New York that will investigate the potential for small-molecule drugs to treat and prevent coronaviruses.

Combinations of small-molecule antiviral drugs have proved effective at preventing and treating HIV, and can be manufactured and sold costeffectively. A year’s treatment with HIV drugs now costs well under $100 in many places around the world. A protocol to prevent and treat COVID-19, lasting two to three weeks at most, should cost far less.

Unless we find powerful ways to eliminate the SARS-CoV-2 virus, it will remain a scourge. Some strains are only a mutation or two away from a leap in lethality. To prevent that, we must learn from pandemics past.

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| FEATURE

MONDAY, JUNE 13, 2022

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‘What legacy are you leaving?’

Last week, I attended two functions at Burma Camp, both funeral-related.

The first was the first anniversary Thanksgiving Service in memory of Lt Gen Emmanuel Alexander Erskine (Rtd) who died in 2021.

The second was the funeral of Mrs Eunice Ablorh-Quarcoo, a former/retired Headteacher of the Signal Regiment Basic School and the Air Force Basic School, Burma Camp who died suddenly in April 2022.

In both cases, the common thread that run through the sermons was “Legacy!”

In its original form, legacy related to an amount of money or property left in a will for someone.

However, later usage has seen legacy evolve additionally to mean qualities/values bequeathed the younger generation of a society by an earlier generation/ancestor.

Gen Erskine In my article about General Erskine in 2021, I stated that, he was the first African to command a United Nations Force. In March 1978, he made history when he was appointed the Force Commander for the United Nations Interim Force in Lebanon (UNIFIL). Before then he was the Deputy Force Commander/Chief of Staff under Lt Gen Ensio Silasvio of Finland who was the Force Commander for the United Nations Emergency Force 2 (UNEF 2) in the Sinai Desert Egypt.

Indeed, as a young lieutenant serving my first peacekeeping mission with UNEF 2 in 1975/1976, I had the privilege of meeting and working under then Brig-Gen Erskine.

At the Thanksgiving Service, the Chaplain started by explaining the word legacy. After his explanation, he added that, a legacy could be

either good or bad. He stated that, his sterling leadership qualities like discipline, knowledge, selflessness, integrity and humility aside, Gen Erskine left behind a good legacy by his dedication and massive contributions to the growth of the St George’s Anglican Church, Burma Camp. Gen Erskine in his simplicity was a role model younger ones aspired to emulate.

The chaplain then asked the congregation “what legacy are you leaving?”

Mrs Eunice Ablorh-Quarcoo Mrs Ablorh-Quarcoo was a teacher/Headteacher at Burma Camp. She was the wife of Maj Daniel SowahAblorh-Quarcoo (Rtd), a former head of the then Internal Revenue Service, now the Customs Division of the Ghana Revenue Authority.

The Garrison MethodistPresbyterian Church, Burma Camp burst at its seams on Saturday, 4th June 2022 when a record crowd attended her funeral. Tribute after tribute described her as a gentle, affable, honest, very firm lady who always wore a lovely smile which made her very approachable. Above all, she was described as a Godfearing lady!

Tribute readers had difficulty maintaining their composure as emotions choked them.

For some of us, apart from its primary role, the facemask played an outstanding secondary role of masking the free-flow of tears that flowed down as the tributes were read. In Ghana, “barima nsu” in Twi means Ghanaian men are not allowed to cry/shed tears!

Preaching the sermon, the chaplain stated that, in some cases, tributes read were far from the truth. Indeed, some were outright lies! This is because in our culture,

it is considered uncharitable to say anything bad about the dead, especially in their tributes at church. So, in an instance when a notorious goat-thief died, his tribute read as follows: “Brethren, lying before us today to join his Maker is our dear brother Yaw Mensah. Yaw was a good man! Indeed, so good was Yaw that everybody liked him.

Even goats had an affinity for him and loved himdearly. Being human however, he was sorely tested by these goats when he thought of light-soup. UnlikeJesus Christ our Lord whose shock-absorbers for temptation were reinforced by his Heavenly Father, our bother Yaw was an ordinary mortal who yielded to temptation. Some goats regularly landed in his soup-pot!

In all this we know, he has been forgiven by the goat-owners who got angry with him!”

The chaplain observed that, Mrs Ablorh-Quarcoo’stributes were so genuine that it looked like they were from the same source, and had been carefully rehersedand choreographed. She led a good life and was a role model not only for teachers and headteachers but more importantly her pupils who admired and loved their “Madam” Again, the question was “what legacy are you leaving behind?”

The Three Children Many years ago, I listened to a radio programme in which three children aged thirteen, eleven and eleven were interviewed about their views on Ghana. For their tender ages, their depth of knowledge, intelligence and general understanding of issues all articulated in impeccable English was outstanding. My assessment was corroborated by callers who phoned in to congratulate the FM Station for the excellent programme.

What struck me most however was the answer they gave to the question on who their role model was. To my disbelief and obviously that of the presenter, all three children chorused the same answer…… OBAMA! While not disagreeing with them, the presenter asked for their Ghanaian role models. One after the other, they said they did not have Ghanaian role models.

Asked why, they said “all our politicians do every day is to insult each other. What are we supposed to learn from adults who have no self-respect and respect for others?”

They then spent time lambasting Ghanaian adults for failing to give them good leadership.

Comments Without doubt, the three children would have been proud of God-fearing Gen Erskine and Mrs Eunice Ablorh-Quarcoo, and would have them as role models. I daresare there are many unsung heroes like the General and Madame. The problem is Ghanaians have difficulty praising Ghanaians. I t does not make sense to heap praises on individuals at funeral services when they are dead. Let us give praise where it is due and honour Ghanaian role models in their life-time.

That way, we can confidently answer the question “what legacy are you leaving?”

Leadership, lead!

Fellow Ghanaians, WAKE UP! The writer is a Former CEO, African Peace Support Trainers Association, Nairobi, Kenya and Council Chairman, Family Health University College, Accra Email: dkfrimpong@yahoo.com

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MONDAY, JUNE 13, 2022

Emirates and Airlink officially activate codeshare partnership Emirates and Airlink have officially activated their codeshare partnership. The Emirates and Airlink partnership make it easier for customers to create their ideal itinerary and benefit from seamless connections and a single booking reference across eight domestic South African cities via the airline’s gateways Johannesburg, Cape Town and Durban. Travel itineraries can now be booked on emirates.com, with travel agents as well as online travel agents (OTAs). Tickets booked from June 2022 are available for travel immediately.

Emirates customers can now book a wide range of additional flights, including eight destinations from Johannesburg, five destinations from Cape Town and one point from

Durban. Examples of some new route options include Bloemfontein, Hoedspruit, Port Elizabeth, Kimberley, George, and East London, amongst others.

Emirates currently offers double daily flights to Dubai from Johannesburg, daily flights to Dubai from Cape Town and five weekly flights to and from Durban.

The airline is also driving more connectivity options that provide value through a better experience for its customers. With the revival of its South African Airways partnership, as well as its codeshare agreement with Airlink, and interlines with Cemair and FlySafair, the airline has expanded its reach to 79 regional points in southern Africa.

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| TOURISM

MONDAY, JUNE 13, 2022

Kintampo! Let’s go to the Centre of Ghana Kintampo, the capital of the Kintampo North municipality in the Bono East Region, has become popular over the years because of the Kintampo Waterfalls, one of the highest falls in the country.

However, another iconic monument that has put the town on the tourism map is the Centre of Ghana site.

Kintampo is the geographical centre of Ghana as measured in colonial times.

Located in the heart of the town, the exact point denoting the centre of Ghana is marked with a monument which has the national flag hoisted on it.

The monument is sited next to the old police station, 100 metres from the Techiman-Tamale Highway.

Upon entering the central business district, visitors can take the first paved road to the left, passing the Okumah Executive Lodge to see the monument on the left.

Poor state Despite the significant tourism potential of the site, it has been neglected and currently does not depict its status as the centre of the country.

Aside from a structure constructed by a vulcaniser in 1992 to demarcate the place, it has not seen any meaningful development.

Initially, the wall erected around the exact point was painted in the national colours while the Coat of Arms was mounted in the middle.

However, the structure has since deteriorated due to a lack of maintenance.

The place looks bushy, unkempt and unattractive to visitors. There is also no tour guide at the site as it has been left unattended.

Lack of funds In an interview with the Daily Graphic, the Bono East Regional Director of the Ghana Tourism Authority (GTA), Joseph Appiagyei, lamented the deplorable nature of the site, saying “it does not befit

the status of the Centre of Ghana.”

“When tourists visit the waterfalls and they pass by the site to take pictures and see it in that state, they get disappointed,” he said.

He indicated the site had the potential to generate huge revenue for the assembly because all guests who would visit the Waterfalls would like to spice up their tour with a view of the Centre of Ghana monument.

He said though the GTA had earmarked it in their development plans, it had no funds immediately to work on it.

Assembly’s plans For his part, the Municipal Chief Executive for Kintampo North, Isaac Baffoe Ameyaw, said plans were far advanced by the assembly to develop the place into a very viable tourist centre.

He said the assembly had included it in its long-term development plan and was looking for investors to collaborate with them to develop

the iconic tourist site.

“We have held talks with a number of investors, including the Indian High Commissioner to Ghana who recently visited the area. It is a capital-intensive project so we hope to partner with corporate entities or investors,” he said.

Mr Ameyaw, however, called on investors to consider investing in the tourist site in the municipality to help boost tourism and create jobs for the teeming youth.

Tourism hub The Kintampo township serves as a major transit point for traders from the north to the south as well as the sub-Sahel Africa. Due to its location, it attracts people from all walks of life.

Aside from its viable commercial activities, it abounds in a number of tourist attractions including the British Cemetery which once served as a cemetery for members of the Gold Coast Regiment.

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| NEWS

MONDAY, JUNE 13, 2022

Parliament ratifies Ghana’s membership to African Petroleum Producers’ Organisation

By Eugene Davis Ghana’s Parliament has ratified and approved the country’s membership to the African Petroleum Producers’ Organisation (APPO).

According to the Committee on Mines and Energy report on APPO, the ratification of Ghana’s membership to the APPO by parliament would afford the country access to the Africa Energy Investment Corporation (AEICorp) to mobilise private-sector funds towards the development of Ghana’s Petroleum Hub through eligible African and International Financial institutions.

It will also enable Ghana the opportunity to participate fully all activities of the organization and take part in critical decision making.

A Deputy Minister of Energy, Dr.Mohammed Amin(MP,Karega) in a contribution to the motion underscored the benefit of joining APPO of helping to harness the potential of resources to reduce the level of poverty in Africa.

He also stated that it will present a chance and the need to share infrastructure.

Samuel Atta Akyea, the Chairman of the Parliamentary Committee on Mines and Energy, who moved the motion for the House to undertake the Committee’s report on the request for Parliamentary ratification for Ghana’s membership to the APPO, said Ghana utilized its membership of the APPO on sixteenth February, 2011,

which was unanimously endorsed by a committee of specialists at its forty first assembly held on twenty third June, 2011.

He mentioned the subscription charges by the use of Ghana’s membership and its oil-producing efforts had been within the solar of 100 thousand {dollars} yearly.

“Having critically examined the status of the APPO, the Committee takes the view that Ghana stands to benefit tremendously from becoming a member of the Organisation,” he mentioned.

Mr Edward Abambire Bawa, a Member of the Parliamentary Committee for Mines and Energy, who seconded the motion, mentioned he was so excited that Ghana is joining APPO, stating that AEICorp, which was one of many organs of the Organisation would supply capital funding for the event of hydrocarbons in member international locations.

The APPO (previously known as the African Petroleum Producers’ Association) was established on January 27, 1987, to function a platform for cooperation and harmonization of efforts, collaboration, sharing of data and experience amongst African oil-producing international locations.

As at December 31, 2021, APPO membership had grown from eight in 1987 to fifteen; particularly Algeria, Angola, Benin, Cameroon, Chad, Congo, Democratic Republic of

Dr.Mohammed Amin Adam -Deputy Energy Minister Congo, the Ivory Coast, Egypt, Equatorial Guinea, Gabon, Libya, Niger, Nigeria and South Africa.

The ratification of Ghana’s membership to the APPO by Parliament would afford the nation entry to the Africa Energy Investment Corporation (AEICorp) to mobilise private-sector funds in direction of the event of Ghana’s Petroleum Hub by way of eligible African and International Financial Institutions.

It would additionally afford Ghana

the chance to take part totally in all actions of the organisation.

By the provisions of Article 75 of the 1992 Constitution of Ghana, any treaty, settlement, or conference executed by or beneath the Authority of the President within the title of Ghana is made topic to ratification both by an Act of Parliament or by a decision of Parliament supported by the votes of greater than one-half of all of the Members of Parliament.

AfDB to invest €10m in reinsurance firm CICA-Re

The African Development Bank has signed an agreement to invest in the Joint Reinsurance Company of Member States of Conférence Interafricaine des Marchés d’Assurances (CICA-Re).

Under the agreement, the African Development Bank will take a 6.56-billion FCFA stake (approximately €10 million) in CICARe and join its board of directors.

Karim Diarassouba, chief executive officer of CICA-Re, signed on behalf of the company. African Development Bank Group Director of

Financial Sector Development Stefan Nalletamby signed for the institution.

The signing took place on 9 June under the auspices of the Ivorian Minister of Economy and Finance, Adama Coulibaly.

The investment it is expected to strengthen the underwriting capacity of CICA-Re and contribute to the financing of its development and expansion across Africa. It will also bolster the company’s contribution to the development of domestic capital markets through the retention of a substantial share of locally

generated reinsurance premiums.

The investment will also implement CICA-Re’s environmental and social policy, consolidate its governance and risk-management framework, grow its capacity to provide technical assistance in insurance and reinsurance, and support efforts to diversify its reinsurance products.

Stefan Nalletamby, the African Development Bank Group’s Director of Financial Sector Development, said, “This operation is one of the African Development Bank’s strategic interventions to increase

its contribution to the development of the African reinsurance sector through supporting strong African players like CICA-Re, which is capable of rising to international standards.”

Karim Diarassouba, chief executive officer of CICA-Re, said, “This partnership with the African Development Bank is intended to strengthen the company’s financial robustness and support the growth of the joint reinsurance company’s activities, while enriching its multisectoral experience.”

CICA-Re is a key player in the development of the insurance and reinsurance sector. Its member countries are: Bénin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Gabon, Mali, Niger, Central African Republic, Senegal, Chad and Togo.

The investment aligns with the Bank’s strategic goal of deepening capital markets and promoting more-robust and better-integrated African financial institutions that offer more-diversified products to support the real sector. CICA-Re is the third regional reinsurance company in which the Bank has made an investment. The other two are African Reinsurance Corporation (AfricaRe), of which the Bank is a founding member, and PTA Reinsurance (ZEPRE).

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MONDAY, JUNE 13, 2022

Green Ghana Day: Obuasi Municipal Assembly to grow more trees to combat climate change

By Sampson Manu The Obuasi Municipal Assembly (OMA) has indicated that it will soon roll up a program to grow more grasses and trees in open spaces within the Municipality. This according to the MCE Honorable Elijah Adansi-Bonah will complement the Government’s Green Ghana Agenda.

Speaking with the media at the Launch of the Green Ghana Day in Obuasi, the Obuasi MCE said the Assembly will work with the Obuasi office of the Ministry of Food and Agriculture (MOFA) as well as the Physical planning department to identify open spaces in the Municipality to grow grasses and plant trees. This is intended to make Obuasi greener and mitigate the effects of climate change.

Introduced in 2021, the Green Ghana initiative seeks to create enhanced national awareness of the necessity for collective action towards restoration of degraded landscape in the country and

inculcate in youth the value of planting and nurturing trees and their associated benefits.

The theme for this year’s edition was “Mobilizing for a Greener Future.”

Touching on the importance of the program to the people of Obuasi, Honorable Adansi-Bonah said Obuasi as a mining town has witnessed portions of its green vegetation depleted as a result of legal and illegal mining activities.

“Due to this, a conscious effort was needed to be taken to reduce if not to stop it hence we deem the introduction of the Green Ghana Day by the Government as a timely intervention.”.

He assured that this year’s celebration will not be business as usual but the Assembly has put in place concrete measures to ensure that seedlings planted are nurtured so that they reach maturity.

The Obuasi MCE also lifted the lid on plans by the Assembly to deal with those who indulge in

indiscriminate cutting of trees.

He said the Assembly is in the process of reviewing its bye-laws and would consider introducing punitive action against those who destroy the vegetation cover, in its bye-laws.

The Senior Manager Sustainability, Anglogold Ashanti, Obuasi Mine Emmanuel Baidoo said the company in support of the Green Ghana initiative by the Government will grow 1000 trees every year. “ AGA together with AGA Malaria Control and other stakeholders in the communities is committed to plant 1000 trees every year. This year, we are aiming to scale it up to 2000. We will make sure the trees that are planted are well nurtured and end up being developed to contribute to the diversity we all anticipate “ Henry Yeboah, the Supervisor of the Obuasi office of the Forestry commission said due to the successful implementation of the program last year, Government

decided to increase the seedlings from 5 million to 20 million.

He gave the seedlings planted in Obuasi in 2021, a 70% survival rate and promised to continue to monitor those that are given out this year.

He reiterated that Obuasi has been given 19,000 seedlings to be given out freely to individuals, Churches and organizations. He further advised beneficiaries to maintain and protect them.

Obuasi MCE donates 700 coconut seedlings to 21 farmers In a related development, Hon ElijahAdansi-Bonah has distributed 700 coconut seedlings to 21 farmers in the Obuasi Municipality. This was after the MCE donated 1000 coconut seedlings to some farmers in the Municipality about a month ago.

The donation forms part of the Government’s Planting for Export and Rural Development Program.

Nananom, Assembly Members and Heads of Department were all present.

Bawumia launches No Guarantor Student Loan Policy The Vice President, Dr. Mahamudu Bawumia has launched the No Guarantor Student Loan Policy at the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi, on Wednesday June 8, 2022.

The No Guarantor Student Loan Policy, a promise by the AkufoAddo government prior to the 2020 elections, is to make tertiary education accessible to Ghanaian youth, especially graduates from the highly subscribed Free Senior High School policy.

With the No Guarantor Student Loan Policy, the cumbersome and restrictive policy of students providing three SSNIT contributors as guarantors before they could access student loan for tertiary education, has been abolished. The No Guarantor Student Loan Policy Dr. Bawumia explained, makes it possible for qualified young Ghanaians to access loans to fund their tertiary education, using their Ghanacard.

REMOVAL OF BARRIERS TO TERTIARY EDUCATION Speaking at the launch, Vice President Bawumia said, the coming into fruition of the pro-poor policy, will remove barriers and significantly increase inclusive access to tertiary education.

“The removal of the guarantor requirement is a critical first step to ensuring cost is not a barrier to access and participation in tertiary education,” Dr. Bawumia said.

“Indeed, these are exciting times to be a youth in Ghana. One can go

through education from basic to tertiary with guaranteed support from Government.”

The Vice President noted that globally, loans have enabled financially challenged individuals to go through universities and pay after graduation and the government of President Akufo-Addo recognised this need, and the challenges associated with students getting guarantors to secure loans, hence the introduction of the No Gurantor Policy to ease the burden of parents of qualified Free SHS graduates.

Expressing his delight over the launch of the policy and how it will help the poor, Dr. Bawumia gave a startling statistic of how many students are unable to access guarantor-required students loans, thus, possibly being denied access to tertiary education.

“Evidence shows that the guarantor requirement poses a barrier to access. Out of the 325,000 eligible students whose details were submitted by all the tertiary institutions on the Student Loans portfolio, only 9.6% could access the loan in the 2019/20 academic year,’ Dr. Bawumia revealed.

“Similarly, only 8.4% of eligible students could access loans in 2016/2017, 9.8% in 2017/18 and 8.6% in 2015/16. Further, in the 2019/20 academic year, 42% of the 7,552 loan applicants could not submit their completed forms because of difficulty finding eligible guarantors,” he added.

“We promised to remove the guarantor requirement as a condition for loan access in the 2020 manifesto of the NPP. In fulfilment of this promise, the Government has revised the policy; hence, tertiary students will not have to present a Guarantor in order to access student loans.

Effective this school year, all eligible tertiary students will have to submit their Ghana Card to access the loans,” Dr. Bawumia said.

Dr. Bawumia also expressed delight that the No Guarantor Student Loan Policy has been made possible through the Ghanacard thanks to the investment the government has made in digital infrastructure, which has made the Ghanacard a reliable national identity card for Ghanaians.

“This is one of the benefits we derive as country by prioritizing digitalization. It is at the core of every serious economic management.”

APPRECIATION Various Speakers at the ceremony, including the Vice Chancellor of

KNUST Prof. Rita Akosua Dickson and the President of NUGS, Dennis Appiah Larbi, expressed gratitude to the government of President AkufoAddo for the policy.

All the speakers agree the policy will open doors for more brilliant but needy students to access tertiary education, which they usually miss out due to lack of funding.

Also present at the ceremony was the Minister of Education, Dr. Yaw Osei Adutwum, who expressed his Ministry’s commitment to ensuring the success of the policy.

The No Guarantor Student Loan Policy is another milestone in education after expanding access to secondary education through the Free SHS policy.

Qualified students are required to apply online to the Ghana Students Loan Trust with their Ghanacard and successful students will have their fees paid directly to their tertiary institutions.

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| FEATURE

MONDAY, JUNE 13, 2022

Rethinking supply chains

By Diane Coyle Starting in the 1980s, transnational production enabled the expansion of global trade and low prices for goods, contributing significantly to economic growth.

But the shocks caused by the COVID-19 pandemic and the Ukraine war have shown firms that the efficiency gains implied by the global division of labor – and just-in-time production – come at the cost of resilience. With global supply-chain bottlenecks unlikely to resolve themselves soon, firms have turned their attention to reshoring or at least “friendshoring,” which seeks to combine closer geographic proximity with greater geopolitical peace of mind.

But turning re-establishing the shorter and more national (or regional) supply chains of a generation ago will be costly in terms of growth. For a hint of just how costly, look no further than post-Brexit Britain’s lack of any post-pandemic trade recovery. The United Kingdom’s independent Office for Budget Responsibility estimates that productivity will be 4% lower in the long run than it would have been had the UK retained its deep trading links with the European Union. The specialization enabled by globalization has brought significant benefits, as many economists (including me) have long argued.

Businesses will adjust to supplychain shocks in different ways.

Some will reshore. Some will find subcontractors in diverse locations. And some may opt for increased automation. The

latter two strategies will carry a lower productivity penalty than reshoring, but will involve adjustment costs and new investment. All three options will roll back some of the globalization of the past four decades.

Other firms, however, will not be able to take any of these steps, given the scale and nature of the upstream activities they have outsourced over the years. In some sectors, such as pharmaceuticals and chemicals, outsourced production accounts for as much as 15-20% of total output.

After 1980, there was a substantial shift among companies toward buying components, rather than making them inhouse. This reflected the spread of information and communication technologies that made it possible to send instructions and receive feedback instantaneously, along with a management philosophy that emphasized cost efficiency and lean production. Many multinational firms kept highvalue activities such as research and development or design in the headquarters’ countries, and sent formulae or blueprints to factories in lower-cost locations such as Malaysia and China. After an initial learning period, these facilities could produce goods at a far lower cost than at home, and often with more consistent quality.

Over time, however, this pattern has generated another hidden cost: the loss of what is often termed tacit knowledge, or know-how, in manufacturing.

This refers to the kind of tweaking and learning from experience that never gets written down but happens on every production line. Such insights can provide vital feedback to researchers and engineers, but the feedback is lost when production takes place thousands of miles away.

Rich-country firms have allowed these capabilities to erode for decades and cannot reshore them quickly. East Asian manufacturing centers such as China, Malaysia, and Singapore have developed sustainable, hardto-replicate advantages in specific sectors and also in areas such as logistics.

This presents problems for policymakers, too. Secure supplies for key commodities such as food and microchips are now at the top of most governments’ agendas.

Some advanced economies have launched initiatives aimed at rebuilding their manufacturing capability, such as the EU’s ambitious €43 billion ($45.5 billion) semiconductor plan or California’s $100 million proposal to manufacture insulin and other generic drugs.

Such plans may be a good idea, but they will need considerable time and money to succeed.

Meanwhile, strategic stockpiles are another possibility. Some countries already hold oil or gas stocks, and many have food reserves such as the cheese and butter stocks in the United States – albeit aimed at supporting farm incomes rather than ensuring security of supply. (The UK, however, ran down its strategic

food stockpiles in the mid-1990s.)

Current supply-chain bottlenecks have also highlighted a generally unnoticed reduction in competition.

Although economists have been pointing to increasing concentration in many markets, the focus has generally been on the large “superstar” companies at the end of production chains. But today’s shortages are a reminder that the more specialized each link in the chain becomes, the less competition there can be at each stage.

At least until recently, competition policy had shown little concern about vertically integrated companies so long as the retail market remained competitive. The presumption was that pressure at the downstream end would flow upstream. Some had already started to question this consensus amid growing evidence of large firms’ market power. But the shortage of carbon dioxide (a fertilizer byproduct) in UK food production and the huge impact of one factory closure on supplies of baby formula in the US make the same point forcefully.

These supply-chain challenges are a consequence of forgetting that other considerations besides economic efficiency matter, and that hands-on craft knowledge cannot be transmitted online.

Unfortunately, problems that have been four decades in the making cannot be solved overnight, and the best course of action for policymakers is not obvious. That is all the more reason to start rethinking the model now.

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| NEWS

MONDAY, JUNE 13, 2022

Dr. Brian Reuben to Support 100 African Entrepreneurs with up to $10,000 Mentorship Package The Chief Executive Officer of Africa Economic Summit Group United Kingdom, Dr Brian Reuben has announced an entrepreneurship support package of $10000 for 100 entrepreneurs from Africa. This support package which is done in commemoration of Dr Brian Reuben’s birthday which falls on the 12th of June 2022 will include a one-year mentorship with him, seed capital to kick start unique ideas, timeless resources from his library and the opportunity to participate at his events globally.

According to Dr Brian, it is only when people take responsibility for the problems in their communities that advancement happens. Societies do not move forward on their own, societies only move forward when people undertake ventures that advance the course of human freedom.

This is what entrepreneurship is about. ‘At this time in our history, we must embrace one another and support one another to move our people out of lack, want, poverty and diseases to a place of freedom’, Dr Brian stated.

Entrepreneurs in Africa are therefore encouraged to visit https://brianreuben.com/ birthday-offer/ to submit an entry.

Dr Brian Reuben, strategy consultant is committed to delivering and extending freedom to hundreds of millions of people around the world through the advancement of scholarship; development tools and frameworks; and training and mentoring of leaders in private and public service.

AngloGold, Obuasi Mine, commemorates Green Ghana Day AngloGold Ashanti Ghana, Obuasi Mine, commemorates the Green Ghana Day launched by the President of Ghana, H. E Nana Addo Dankwa Akuffo-Addo. 10 June 2022 has been earmarked as the National Green Ghana Day and as such was commemorated with a durbar and tree planting exercise.

The theme for this year’s edition was “Mobilizing for a Greener Future.

The Obuasi Mine has committed to planting One Thousand (1,000) seedlings in schools and communities within its operational footprint every year in support of the Government’s Green Ghana initiative. The plan is not just to plant but also,

to monitor the growth of the seedlings into matured trees.

The Green Ghana initiative, introduced in 2021, is intended to create enhanced national awareness of the necessity for collective action towards restoration of degraded landscape in the country and inculcate in youth the value of planting and nurturing trees and their associated benefits.

Mr. Emmanuel Baidoo, Senior Manager-Sustainability Department of the Mine, mentioned that AGAG will undertake this tree planting exercise by collaborating with AGA Malaria Control and other stakeholders in the communities the mine operates. “ This year, we

are aiming at even planting 2000 trees. We would ensure that the trees we have planted are well nurtured which will end up being developed to contribute to the biodiversity that we all anticipate”.

He also added, “as a Mine, we have a comprehensive Environment Management Plan part of which is to ensure that they implement a robust reclamation program to restore the land they have disturbed to its original state”.

Lauding the Government for the Green Ghana initiative, the Senior Manager-Sustainability said the initiative is aligned to AGAG’s overall objective so they consider it as a pledge to their commitment to invest in interventions that protect the environment.

CROPP TO RECLAIM DISTURBED LANDS As part of the company’s Socio-Economic D e v e l o p m e n t Interventions, the Obuasi Mine is currently implementing the Climate Resilient Oil Palm Project (CROPP).

The project is targeting 2000 hectares of land in its first phase of five years, to plant agroforestry trees.

The objective of

the CROP Project according to Mr. Baidoo is to ensure that all disturbed lands due to the Mine’s activities are reclaimed and used for economic purposes by planting oil palms and other cash crops on them.

He again revealed that the CROP Project will be implemented on lands that have been used for illegal mining and riverbanks particularly the Jimi River.

“This is a commitment we are implementing together with our stakeholders including the Solidaridad West Africa, Department of Agriculture and Traditional Authorities.

We are working to leave a sound environmental legacy”, He concluded.

Henry Yeboah, the Supervisor of the Obuasi office of the Forestry commission said due to the successful implementation of the program last year, Government decided to increase the seedlings from 5 million to 20 million.

He gave the seedlings planted in Obuasi in 2021, a 70% survival rate and promised to continue to monitor those that are given out this year.

He reiterated that Obuasi has been given 19,000 seedlings to be given out freely to individuals, Churches and organizations. He further advised beneficiaries to maintain and protect them.

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| NEWS

MONDAY, JUNE 13, 2022

Gov’t to procure extra 300 gold equipment …..to boost responsible small-scale mining

By Eugene Davis

President Nana Addo Dankwa Akufo-Addo has announced that government plans to procure additional mercury-free gold processing equipment (GoldKacha) under National Alternative Employment and Livelihood Programme(NAELP) for use in the various communities where the programme is being implemented.

According to him, the idea is to ensure that small scale mining supports government’s drive to optimise the earnings from mining in pursuit of development, progress and prosperity for all Ghanaians.

Speaking at the commissioning of 100 mercury-free gold processing equipment (Gold-Kacha) at the Independence Square in Accra last Monday, he said “The addition of these 100 equipment will go a long way to facilitate clean mining in the small-scale sector, it is our intention to procure some 300 more of this equipment under National Alternative Employment and Livelihood Programme for use in the various communities where the programme is being implemented. Our goal is to eliminate gradually the use of mercury in small scale mining and help realise the objectives of Minamata Convention on mercury.”

He indicated his government will not relent in its efforts to clamp down on irresponsible and selfish illegal mining in a bid to safeguard water bodies, forests and the environment.

In addition to government’s commitment to the Minamata Convention on Mercury, the president maintained that government owe it a duty to safeguard its environment by reducing and eventually eliminating the use of such harmful chemicals.

President Akufo-Addo maintained that government is not against small scale mining but rather any form of mining that pays no heed to the preservation of the environment that threatens the country’s survival.

Small-scale mining today accounts for some 40percent of gold exports and provides job opportunities and sources of livelihood and income for many Ghanaians.

“When I called for a national dialogue on small scale mining, I was convinced and I am still convinced that small scale mining can and should be done sustainably, there are several of

our compatriots who are mining responsibly and are employing the protocols that have been established by the minerals commission and government will continue to support them to offer them its support.

However, there are still some who have vowed to seek only their selfish, parochial interest at the expense of the collective national interest, these are those who pay no regard to the sanctity

Jinapor, on his part stated that key measures have been put in place to support the Ghana mining sector especially community mining.

In tackling the age-old menace of illegal mining, government he said have adopted a two-pronged approach, law enforcement and the reformation of the sector.

In the area of enforcement, he revealed that they have held engagement with all 16 regional

of our forests, water bodies or environment, government will not relent in its efforts to flush them out of the eco system.” He added.

On the significance of the 100 new sets of mercury-free gold processing equipment, the president stated that the equipment has the capacity to recover over 90percent of gold from the ore and therefore give small scale miners much more gold than they would obtain from the traditional method using mercury.

The Minister of Lands and Natural Resources, Samuel Abu

ministers and their respective regional security council to lead law enforcement in their area of jurisdiction, Forest guards of the Forestry Commission have been working with security agencies to enforce the ban, with government in the process of recruiting and training river guards to protect the river bodies.

Mr. Jinapor noted that the policies and strategies being implemented by the Ministry of Lands and Natural Resources, are to promote viable business for Ghanaians who intend to work in the mining industry, whilst, at the same time, protecting the

environment.

“This is part of the broader vision of the Akufo-Addo Government to make Ghana the mining hub of Africa, where all mining and mining related activities, from exploration to downstream production, and from innovation to research, will be centred. Yes, we recognise the complexities of the small-scale mining industry and the intractable nature of the negative practices associated with it. Let us face it, what we are dealing with is gold, which is money. Thus, those involved, both the gold barons, foreigners and Ghanaians alike, who finance this illicit business from the comfort of their mansions, and the “goro boys” on the ground, would not relent in their efforts.”

The 100 new sets of mercuryfree gold processing equipment, intended to curb environmental pollution and land degradation arising from the wide use of mercury and other harmful chemicals by illegal small-scale miners in the country.

The new technology, includes crusher, miller, concentrator and upgrading smelting system known as “Gold-Kacha”, with its operation will help to eliminate the use of mercury to extract gold from the ore.

It follows the adoption of the Minamata Convention on Mercury, which enjoins state parties to take measures to reduce and where feasible, eliminate the use of mercury in artisanal and small-scale mining.

Gold-Kacha will significantly help to protect the health and lives of small-scale miners and the natural environment.

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| FEATURE

MONDAY, JUNE 13, 2022

Health consequences of contaminated food, water: World Food Safety Day As the UN marks Food Safety Day today, June 7, 2022, on the theme: “Safer food, better health”, the focus is on the health consequences of contaminated food and water.

Commemorating the day, the Council For Scientific and Industrial Research (CSIR) Food Research Institute stands with the UN and relevant government agencies to spread the word on the importance of food safety.

The CSIR also takes the opportunity to galvanise all on the way forward as a nation with respect to issues of food safety.

As an institute, we support the country with food safety interventions, through tailored training, the implementation of quality systems in ensuring food safety, as well as the testing of food and feed, to ensure food safety for both humans and animals.

Contaminated food According to the World Health Organisation (WHO), in 2010, consumption of contaminated food and water accounted for

more than 600 million cases of foodborne disease, approximately one in 10 people and billions of dollars are lost each year in productivity and medical expenses resulting from unsafe foods in low and middle-income countries, including Ghana.

Sadly, the health effects of drinking contaminated water cannot be seen / detected immediately and factors such as health status and age of individuals actually determine the extent of sickness experienced.

The consumption of contaminated food and water results in sickness characterised by symptoms, such as, nausea, diarrhoea, intestinal cramps, stomach pain and dehydration.

Apart from that, the microbial-related health effects of contaminated water, as a result of mining activities, and the indiscriminate disposal of chemicals (including herbicides and unwanted pharmaceutical products), inadvertently end up in our water bodies and lead

to various kinds of poisoning, such as lead, arsenic, mercury, cyanide resulting in diseases such as cancer, cardiovascular and adverse reproductive and a host of other outcomes.

Data In many instances, there is the under-diagnosis and under reporting of sicknesses associated with foodborne illness, hence the paucity of scientific incidence data, even in Ghana.

As has been stated over the years, food safety is everyone’s business, therefore, everyone has a role to play.

Policymakers need to continually prioritise food safety challenges in Ghana, allocate resources to research and develop stringent standards, particularly for food business operators, and at the very least, enforce the implementation of Hazard Analysis Critical Control Point (HACCP) in all food business operations, each tailored to the type/scale of operation.

Food business operators must

be aware of the food safety pathogens and implement good hygienic practices; the media, must continually preach the message of food safety and its importance to public health, and the scientific community must bridge the knowledge gap with respect to disease incidence, etc.

Also, the general public (consumers included) must all learn or be knowledgeable about the core food safety principles (clean, separate, cook and chill), recognise risky behaviour and call out culprits who flout these principles.

Lastly, reporting and the documentation of incidents of foodborne illness in Ghana must be resumed earnestly to allow for estimation of the national burden of foodborne disease.

The writers are A. Andoh-Odoom, E. Tawiah & C. Tortoe, all with the CSIR – Food Research Institute.

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| ADVERT

MONDAY, JUNE 13, 2022

| FEATURE

MONDAY, JUNE 13, 2022

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50 Years of UN environment programme During discussions on the integration of human interactions and the environment at the UN Conference on Human Environment in Stockholm, Sweden on June 5, 1972, the World Environment Day (WED) was instituted.

Later, led by Mr Maurice Young, the UN Environment Programme (UNEP) was established.

The 113 countries adopted the Stockholm Declaration and Action Plan for the Human Environment and placed environmental issues at the forefront of international concerns.

The conference was for dialogue between industrialised and developing countries on the links between the environment, economic growth and human well-being.

Since then, UNEP has effectively been the global authority for the environment with programmes focussing on climate and nature.

UNEP, WED The birth of UNEP and the institution of WED provided some seeds of hope and it is heartwarming that environmental issues continue to dominate global discussions.

The broad philosophy, ideology and social movement of WED remain on the environmental well-being of the planet.

WED, also known as Eco Day or Environment Day, celebrated every June 5, has become a global platform for public outreach in over 143 countries annually.

As the UN’s principal vehicle for encouraging awareness and action for the protection of the environment, WED is observed to protect the environment.

The day is celebrated every year on themes and major initiatives, with thousands of activities organised worldwide, including tree planting, cleanups, concerts, exhibitions, film festivals, community events, media engagements and many more.

Today, WED has become the flagship campaign to raise awareness of environmental issues emerging from plantation development, particularly monoculture, the slash and burn agriculture, excessive timber harvesting, destructive surface mining, annual indiscriminate bush burning, hazardous agrochemicals, plastic waste menace, pollution of water bodies, human over-population, unplanned infrastructure development, climate change and global warming, excessive consumption of natural resources, wildlife crime and biodiversity loss.

On June 5, 1974, two years after Stockholm, the day was first observed on the slogan, “Only One Earth”. Subsequent observations mostly took place in Pakistan until the idea of rotating the venue was accepted in 1987.

Milestone Stockholm+50 marks a milestone in our collective journey toward a healthy planet.

It offers the opportunity to reflect on, celebrate and build upon 50 years of environmental action.

On Sunday, June 5, the world celebrated the 50th anniversary of UNEP and WED 2022 on the theme, “Only One Earth”.

The focus is further on the need to live sustainably in harmony with nature and the possibilities for shifting to a greener lifestyle through both policies and individual choices. Incidentally, the motto for the 1972 Stockholm Conference was ‘Only One Earth’.

The day was observed highlighting the need to live in harmony with nature through transformative changes in our policies and choices towards cleaner and greener lifestyles.

To commemorate the 1972 UN Conference on Human Environment, Sweden and Kenya, with support from UNEP and partners, organised a highlevel international meeting – Stockholm+50, a healthy planet for the prosperity of all, our responsibility, our opportunity, in Stockholm on June 2 and 3, 2022.

World leaders and representatives from government, businesses, international organisations, civil society and youth gathered to drive action towards a healthy planet for the prosperity of all.

It is likely, as usual, for countries to pledge support to fight for the environment.

The best the world can do at this year’s celebration is to strive to achieve carbon neutrality and

reduce emissions.

Ghana must focus on forest and biodiversity management as a tool for reducing greenhouse gases and preventing the alarming rate of biodiversity loss.

It is hoped that the $43 billion earmarked for developing countries’ efforts to reverse species loss shall, hopefully, be utilised for the intended purposes.

Fifty years on, the need to accelerate action for the environment, poverty alleviation and human rights is more urgent than ever.

It is, therefore, expected that Stockholm+50 provides a unique opportunity to be another turning point to steer humanity back on the path to a healthy planet and the prosperity of all.

The writer is Programmes Coordinator, Forest, Biodiversity and Climate Change, Frontier Institute of Development Planning.

E-mail: possei_wusu@yahoo.co.uk

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| MARKET REVIEW

MONDAY, JUNE 13, 2022

WEEKLY MARKET REVIEW FOR WEEK ENDING - JUNE 3, 2022 MACROECONOMIC INDICATORS Q3, 2021 GDP Growth

7.0%

Average GDP Growth for 2021

5.4%

2022 Projected GDP Growth

5.5%

BoG Policy Rate

19.0%

Weekly Interbank Interest Rate

19.65%

Inflation for February, 2022

23.6%

End Period Inflation Target – 2022

8.0%

Budget Deficit (% GDP) – Dec, 2021

2.6%

2022 Budget Deficit Target (%GDP)

7.4%

Public Debt (billion GH¢) – Dec, 2021

391.9%

Debt to GDP Ratio – Dec, 2021

78.0%

STOCK MARKET REVIEW The Ghana Stock Exchange weakened for the week on the back of a decline in Calbank PLC’s share price. The GSE Composite Index (GSE CI) lost 3.81 points (-0.15%) to close at 2,550.98 points, reflecting year-to-date (YTD) loss of 8.55%. The GSE Financial Stocks Index (GSE FI) also lost 6.93 points (-0.32%) to close at 2,185.64points, reflecting year-to-date (YTD) gain of 1.57%.

Market capitalization declined by 0.06% to close the week at GH¢62,236.68 million, from GH¢62,276.58 million at the close of the previous week. This reflects YTD decline of 3.50%.

Trading activity registered a total of 10,552,896 shares valued at GH¢9,573,403.22 changing hands, compared with 4,796,801 shares, valued at GH¢4,288,986.32 in the preceding week.

MTN dominated both volume and value of trades for the week, accounting for 82.38% and 81.73% of volume and value of shares traded respectively.

The market ended the week with 2 leaders and 1 laggard as indicated on the table below.

THE CURRENCY MARKET The Cedi depreciated against the USD for the week. It traded at GH¢7.1461/$, compared with GH¢7.1413/$ at week open, reflecting w/w and YTD depreciations of 0.07% and 15.95% respectively. This compares with YTD appreciation of 0.23% a year ago.

The Cedi appreciated against the GBP for the week.

It traded at GH¢8.9416/£, compared with GH¢9.0020/£ at week open, reflecting w/w appreciation and YTD depreciation of 0.67% and 9.11% respectively. This compares with YTD depreciation of 3.30% a year ago.

The Cedi also lost against the Euro for the week. It traded at GH¢7.6604/€, compared with GH¢7.6440/€ at week open, reflecting w/w and YTD depreciations of 0.21% and 10.86% respectively. This compares with YTD appreciation of 1.02% a year ago.

The Cedi further depreciated against the Canadian Dollar for the week. It opened at GH¢5.5951/C$ but closed at GH¢5.6792/C$, reflecting w/w and YTD depreciations of 1.48% and 16.51% respectively. This compares with YTD depreciation of 4.27% a year ago.

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BUSINESS TERM OF THE WEEK COMMODITY MARKET Crude Oil rose after U.S. crude inventories fell more than expected amid high demand for fuel, shrugging off OPEC+’s agreement to boost crude output to compensate for a drop in Russian production. Brent futures traded at US$119.72 a barrel on Friday, compared to US$119.43 at week open. This reflects w/w and YTD gains of 0.24% and 53.92% respectively.

Gold closed lower for the week, with the yellow metal caught between support from slightly lower U.S. Treasury yields and pressure from a firm dollar. Gold settled at US$1,850.20, from US$1,851.30 last week, reflecting w/w loss and YTD gain of 0.06% and 1.18% respectively.

Prices of Cocoa also inched up for the week. The commodity traded at US$2,469.00 per tonne on Friday, from US$2,462.00 last week, reflecting w/w gain and YTD losses of 0.28% and 2.02% respectively.

GOVERNMENT SECURITIES MARKET Government raised a sum of GH¢1,393.70 million for the week across the 91-Day and 182-Day Treasury Bills.

This compared with GH¢1,124.50 million raised in the previous week.

The 91-Day Bill settled at 22.57% p.a from 19.94% p.a. last week whilst the 182-Day Bill settled at 24.41% p.a from 22.95% p.a. last week.

The table and graph below highlight primary market yields at close of the week.

INTERNTIONAL COMMODITIES PRICES

Carry Trade: A carry trade is a trading strategy that involves borrowing at a low-interest rate and investing in an asset that provides a higher rate of return. A carry trade is typically based on borrowing in a low-interest rate currency and converting the borrowed amount into another currency. Generally, the proceeds would be deposited in the second currency if it offers a higher interest rate. The proceeds also could be deployed into assets such as stocks, commodities, bonds, or real estate that are denominated in the second currency.

Source:https://www.investopedia.com/carrytrade-definition-4682656

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

RESEARCH TEAM Name: Ernest Tannor Email:etannor@cidaninvestments.com Tel:+233 (0) 20 881 8957 Name: Audrey Asiedua Wiafe Email:aaudrey@cidaninvestments.com Tel:+233 (0) 57 840 2700 Name: Moses Nana Osei-Yeboah Email:moyeboah@cidaninvestments.com Tel:+233 (0) 24 499 0069

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

The information contained herein has been obtained from sources that we believe to be reliable, but its accuracy and completeness are not guaranteed.

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NO. B24/317 | NEWS FOR BUSINESS LEADERS

MONDAY, JUNE 13, 2022

Four Wisconsin lecturers ranked among top scientists in Ghana Four lecturers of the Wisconsin International University College, Ghana (WIUC-GH) have been ranked among the thousand top scientists in Ghana by the global Alper-Doger Scientific Index.

Dr Eric Ansong, Dr Emelia Amoako Asiedu, Dr Angela Kwartemaa Acheampong and Dr Leonard Kyei were cited in the International Ranking and Analysis System, in its list of top scientists for 2022 released in April 2022.

Dr Ansong, a lecturer at the School of Research and Graduate Studies, was ranked as the topmost researcher at WIUC-GH with a specific national ranking of 821, a statement from the University copied to the Ghana News Agency said.

The Alper-Doger Scientific

Index is based on the scientific performance and the added value of the scientific productivity of individual scientists.

With these achievements, it said WIUC-GH affirmed its status as a steadily growing research university in Ghana.

While celebrating the achievements of the faculty members, the Vice-Chancellor of WIUC-GH, Professor Obeng Mireku, commended the lecturers for their hard work, which had earned them such global laurel.

He expressed the hope that other faculty members would be inspired by their achievements to also excel in their respective fields of endeavour at the local and global levels to bring more glory to WIUC-GH. Source: GNA

UNDP and SG Ghana partner to promote innovations and inclusive entrepreneurship The United Nations Development Programme (UNDP) and Societe Generale Ghana PLC (SG Ghana) have signed a Memorandum of Understanding (MOU) to encourage and support innovators, especially small businesses led by youth, women, and persons with disabilities (PWDs) to scale up innovations towards sustainable development.

The partnership aims to leverage the expertise and resources of both institutions to provide a tailored programme including

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

capacity building, mentorship, business to business matching, and pitching masterclasses to enable easy access to investors and markets for products and services.

“Partnership plays a critical role in accelerating the achievement of the Sustainable Development Goals (SDGs) by 2030 and UNDP is committed to working with the Private Sector and all actors to unlock SDG aligned investments for greater impact.

This partnership is very important as Société Générale joins forces with UNDP to support national actions to expand employment opportunities for youth, women, and People with Disabilities for shared prosperity”, noted Angela Lusigi, UNDP Resident Representative in Ghana.

As part of the partnership, the UNDP Accelerator Lab, SG Innov8 Hub and SG Home of Business will be leading efforts to cocreate opportunities for innovators to thrive

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and scale-up to penetrate markets beyond the shores of Ghana.

“This partnership with the UNDP Accelerator Lab which has the unique expertise in working with grassroots innovators will not only broaden the Bank’s reach but also its ability to support new initiatives, SMEs, young people, persons with disabilities and innovative startups”, said the Managing Director of SG Ghana PLC, Hakim Ouzzani.

The partnership will leverage UNDP’s expertise in working with grassroots innovators, and SG Ghana’s expertise in supporting businesses and entrepreneurs. Under the agreement, UNDP through its Accelerator Lab, and SG Ghana through its Innov8 Hub and the SG Home of Business, will run the Inclusive Entrepreneurship partnership, taking a pipeline of innovators through capacity building, free use of SG Ghana’s Home of Business and Innov8 Hub services.

Participating entrepreneurs will include a selection of the 22 grassroot innovators who received funding and technical support through the UNDP Accelerator Lab COVID-19 Innovation Challenge and other innovators and entrepreneurs selected by UNDP. It is expected that at least 50% of innovators supported will gain increased traction to scale up their innovations.