Business24 Newspaper 8 June 2022

Absa Bank introduces first-ever QR Code feature for ATMs

No gov’t has done as much in TVET as NPP – VP Bawumia

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W E D N E SDAY, J UN E 8, 202 2

BUSINESS24.COM.G H

Appiatse rebuilding to cost GH¢70m, gov’t says

By Eugene Davis

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GSA wants collaboration between Ghana, Egypt to boost trade ties //STORY ON PAGE 4

NEWS FOR B U SINESS LEA DERS

The supply solution to stagflation

By David Malpass Just over two years after COVID-19 caused the deepest global recession since World War II, the world economy is again in danger. This time, it is facing high inflation and slow growth simultaneously. Even if a global recession is averted, the pain of stagflation could persist for several years, with potentially destabilizing consequences for low- and middle-income economies – unless major supply increases are achieved.

Amid the war in Ukraine, surging inflation, and rising interest rates, global economic growth is expected to slump in 2022. The World Bank’s latest forecast, published today, reflect a sizeable downgrade to the outlook: global growth is expected to slow sharply this year, to 2.9%, from 5.7% in 2021.

This also reflects a nearly one-third cut to the January 2022 forecast, which projected 4.1% this year. The surge in energy and food prices, along with the supply and trade disruptions triggered by the war in Ukraine and the necessary interest-rate normalization now underway, account for most of the downgrade.

COVID-19 already dealt a major setback to income growth and poverty reduction in developing economies. The fallout from the war in Ukraine compounds the challenges for many of them. They are expected to eke out 3.4% growth in 2022 – barely half the rate in 2021 and well below the average between 2011 and 2019. Similarly, the growth forecast for middle-income countries in 2022 has been downgraded sharply, losing 1.3 percentage points relative to the January forecast. //MORE ON PAGE 3

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News/Editorial

THEBUSINESS24ONLINE.COM

Private sector must own the AfCFTA! Africa’s social and economic transformation agenda has been significantly boosted with the take-off of the single continental market.

Government and state actors in the trade and export sectors have lined up robust and measured interventions to build the competitiveness of the business community to take advantage of the enormous opportunities it has to offer.

It is now up to the local business community to understand the market, the requirements and what it would take to enter these markets.

There are certain sectors that have already seen the light. For example, businesses that are into high value manufacturing have already starting setting up business hubs in other parts of Africa.

These businesses are expected to lead the path on this sustainable economic journey toward continental integration whilst dragging along the bulk of Ghana’s private sector businesses,

specifically the micro, small and medium enterprises.

The Africa Continental Free Trade Area was established to create structures that would enable cost-efficient free movement of goods and services, and it is up to traders themselves to drive the trade.

“AfCFTA has given us the opportunity to thrive in other markets, find those markets, find business partners and explore means of staying in those markets. AfCFTA is only reducing the barriers that would hitherto disable you from doing so,” a trade expert Dode Seidu, aptly reiterated in his recent engagement with the business community.

The AfCFTA is not just a traditional trade agreement but a reliable chance for Africans to lift ourselves and for that matter we have to make sure that opportunities of the market are well explored to the betterment of the continent.

Appiatse rebuilding to cost GH¢70m, gov’t says

By Eugene Davis

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The Minister of Lands and Natural Resources, Samuel Abu Jinapor, has told lawmakers in Ghana’s parliament that the reconstruction of Appiatse community is expected to cost GH¢70m.

According to the minister, the committee of eminent persons tasked to lead the Relief Support fund came up with a preliminary figure of GH¢70m which is needed to reconstruct Appiatse Community.

Appearing before parliament on Tuesday to answer a question on the balance sheet of the Appiatse Funds, he said “The technical Committee constituted has come out with a preliminary figure of GH¢70m. And we have been able to raise GH¢42.5m but these estimates are preliminary because they are subject to variations based on the prices of goods and services He adds that a sum of GH¢1m was advanced towards Appiatse reconstruction.

Mr. Jinapor conceded there is no sufficient fund to continue with rebuilding of the township and appealed for more donation to the fund. He also added the company that caused the explosion and fined US$1m is committing monies to the fund.

The minister also disclosed that the Committee has also received non-monetary donations in the

form of wood, cement, clothing and cooking utensils.

The Appiate Support Fund, which was set up to mobilise adequasustainableii uple community, as a model for rural development across the country.

Background On Thursday, January 20, 2022, a tragedy befell the nation. A truck carrying explosives intended for mining, exploded at Appiatse, in the Prestea Huni-Valley District of the Western Region, causing extensive damage to life and

property. The incident claimed the lives of some thirteen (13) people and literally razed down the entire community.

Government, after assessing the situation and its impact on the community, decided to establish an Appiatse Support Fund (ASF), to raise funds from the general public to, among others, support the victims of this incident, and to reconstruct the community which was razed down by the explosion.

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WEDNESDAY, JUNE 8, 2022

Absa Bank introduces first-ever QR Code feature for ATMs Accra, June 07, 2022 – If you are an Absa Bank customer with a penchant for using the bank’s ATM, there’s a new feature on the machine that will make your life simpler and more convenient than before.

For the first time in Ghana, customers can now withdraw money from any of Absa’s ATMs with the luxury of a digital QR code, using their mobile phones.

The functionality, which is now operational across ATMs nationwide, reflects Absa’s digital leadership in the banking industry.

Banking has always been

a lucrative component of economic transformation and development across nations.

With the advancement of digital technology and the dynamic needs of customers, banks are finding new ways of engaging and making transactions easy and convenient for their customers.

The ATM QR Cash feature is embedded in Absa’s mobile banking app; and allows customers to scan a code on the ATM with their phone to follow instructions on withdrawing the cash without the use of the credit/ debit card. The process is seamless and avoids any physical contact

with the ATM keys or buttons. It is a clear synergy between mobile technology and the physical ATM machine, elevating the way customers engage with their banks.

Commenting on the new feature, Director of Retail at Absa Bank Ghana, Charles Addo said: “It is a new way of banking that immediately transforms our commitment to our customers.

We are at a certain stage in the global dynamic of banking where organisations need to constantly reinvent to remain relevant. Our customers are increasingly coming up with new

needs and expectations and our responsibility is to meet them seamlessly. We are excited about this innovation, and we remain committed to devising new and better ways to make the banking experience worthwhile for our customers.”

The ATM QR Cash feature adds to a rich collection of innovative and creative products from the stable of Absa Bank. The bank has been at the forefront of digital banking leadership in Ghana through a plethora of products including Absa Cash Send and Cash Accepting ATMs that allows 24/7 banking on the go.

COMMENT/ANALYSIS

The supply solution to stagflation //continued from page 1

By David Malpass Real income per capita in 2023 will remain below pre-COVID-19 levels in about 40% of developing economies. For many countries, recession will be hard to avoid.

With the supply of natural gas constrained, especially for use in fertilizer and electricity grids in poorer countries, announcements of major production increases worldwide will be essential to restoring non-inflationary growth.

The danger that above-average inflation and below-average growth will persist for several years – a phenomenon not seen since the 1970s – is considerable.

Between 2021 and 2024, global growth is projected to slow by 2.7 percentage points – more than twice the deceleration between 1976 and 1979. Subdued growth will likely persist throughout the decade because of weak investment in most of the world.

With inflation now running at multi-decade highs in many countries, and supply expected to expand slowly, there is a risk that the rate of price growth will remain higher for longer than currently anticipated.

Moreover, developing economies’ external public debt is at record levels today. Most of it is owed to private creditors, and much of it involves variable interest rates that could spike suddenly. As global financing conditions tighten and currencies depreciate, debt distress – previously confined to lowincome economies – is spreading to middle-income countries.

The removal of monetary accommodation in the United States and other advanced economies, along with the

ensuing increase in global borrowing costs, represents another significant headwind for the developing world. In addition, over the next two years, most of the fiscal support provided in 2020 to fight the pandemic will have been unwound, though debt levels will remain elevated.

As policy accommodation is removed, it will be important to reduce inequality and seek higher incomes for all by using fiscal and monetary tools that strengthen supply chains, small businesses, and the capital-allocation process.

But current conditions also differ from the 1970s in several important ways. The dollar, extremely weak in the 1970s, is strong. Oil prices quadrupled in 1973-74 and doubled in 197980; today, in inflation-adjusted terms, oil prices are only twothirds their level in 1980. And the balance sheets of major financial institutions are generally strong, whereas they were a risk in the 1970s.

Economies around the world are also more flexible than they were in the 1970s, with fewer structural rigidities involving wages and labor markets, and policymakers are in a better position today to stave off stagflationary headwinds.

Monetary-policy frameworks are more credible: central banks in advanced and many developing economies alike operate under clear price-stability mandates.

This, together with the fact that

existing technology and capital have the capacity to provide massive increases in supply, has helped anchor long-term inflation expectations.

Reducing the risk of stagflation will require targeted measures by policymakers worldwide. In an extraordinary era of overlapping global crises, policymakers everywhere will need to focus their efforts in five key areas.

First, they must limit the harm to people affected by the war in Ukraine. This will require coordinating the crisis response, including delivery of emergency food, medical, and financial aid to war-torn areas, and sharing the burden of housing, supporting, and possibly relocating refugees and internally displaced people.

Second, policymakers must counter the spike in oil and food prices. It is essential to boost the supply of key food and energy commodities. Markets are forward-looking, so even mere announcements of future supply would help reduce prices and inflation expectations. All countries should buttress social safety nets and avoid export and import restrictions that magnify price increases.

Third, there is an urgent need to step up debt-relief efforts. Debt vulnerabilities were acute for lowincome countries even before the pandemic. As debt distress spreads to middle-income countries, the risks to the global

economy will grow in the absence of rapid, comprehensive, and sizeable relief.

Fourth, officials must strengthen health preparedness and efforts to contain COVID-19. Expanding immunization efforts in lowincome countries, including COVID-19 vaccinations, must be a high global priority.

Fifth, the transition to lowcarbon energy sources must be accelerated.

Reducing dependency on fossil fuels will require more investment in electricity grids, cleaner energy sources, and greater energy efficiency. National policymakers should create climate-smart regulatory frameworks, adjust incentive structures, and strengthen land-use regulations.

Restoring long-term prosperity depends on a resumption of faster growth and a more stable, rulesbased policy environment. There is good reason to expect that, once the war in Ukraine stops, efforts to rebuild the Ukrainian economy and revive global growth – including by the World Bank Group – will be redoubled.

In the meantime, policymakers must mitigate the other threats to development around the world: soaring food and energy prices, persistent stagflationary pressure, increasingly perilous debt overhangs, growing inequality and instability, and the myriad risks stemming from climate change.

This commentary has been adapted from the World Bank Group’s June 2022 Global Economic Prospects report.

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WEDNESDAY, JUNE 8, 2022

GSA wants collaboration between Ghana, Egypt to boost trade ties The Ghana Shippers’ Authority (GSA) has called for a strong collaboration between Ghana and Egypt to help boost the trade ties between both countries.

“Statistics from the GSA indicated that a total of 1,220 metric tonnes of commodities were exported from Ghana to Egypt in 2021. Cocoa products constituted the largest of the export (834 metric tonnes) followed by Machinery and other equipment (192 metric tonnes), Cocoa Beans (104 metric tonnes) and General Cargo (89 metric tonnes).

“It is expected that greater collaboration would see exponential growth in the trade figures in the coming years,” a release issued by the GSA on May 31 said.

It said in 2020, Ghana exported $12.3 million worth of goods to Egypt, adding that the main products exported from Ghana

to Egypt were Cocoa Paste ($8.07M), Cocoa Powder ($1.2M), and Machinery Having Individual Functions ($811k).

The release said during the last 25 years exports from Ghana to Egypt increased at an annualised rate of 12.6 per cent, from $633 thousand in 1995 to $12.3 million in 2020.

“Egypt Exports to Ghana was US$128.59 Million during 2021, according to the United

Nations COMTRADE database on international trade,” it added.

It said the GSA has begun processes to improve the trade facilitation procedures between Ghana and Egypt for the mutual benefit of shippers in both countries.

As a result, the GSA paid a courtesy call on the Commercial Minister Plenipotentiary in charge of Ghana-Egypt relations at the Embassy of Egypt in Accra,

Aly Mohamed Basha, to discuss areas of interest in terms of trade facilitation between both countries.

The Head of Shipper Services and Trade Facilitation of the GSA, Monica Josiah, briefed him on the efforts by the GSA to improve trade relations between the two countries and also sensitised him to the GSA’s mandate.

She called on industry players of Africa to come up with a liner vessel to serve the continent as it would be key to supporting the ongoing implementation of the African Continental Free Trade Area Agreement (AfCFTA).

“We have noticed that shipping inter-connectivity within Africa is very low and that is affecting the whole continent; currently if I have to ship goods to Egypt, I may have to do so through another country and this is worrying,” she said.

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WEDNESDAY, JUNE 8, 2022

Haiflow hosts architects and real estate players to “Cheese, Wine & Design” Privately-owned distributor of high-quality sanitary ware, ceramic tile, bathroom accessories, shower enclosures, bathroom cabinetry and jaccuzis, Haiflow SAL, in collaboration with Spain-Ghana Chamber of Commerce has hosted players in the building and real estate sector to an evening of wine and cocktail at its Spintex showroom in Accra.

It was a sales activation and networking event to get its customers and housing stakeholders familiarized to its new range of household products.

Haiflow’s Sales Director, Tarik Ghazale, speaking to journalists at the event said the company is poised to play a leading role in Ghana’s building and interior décor space.

“We always strive to partner with the government from both the business standpoint and as our social responsibility. That’s why we’re always looking to reinvest more into the brand because we believe in the future of Ghana,” he assured.

“We’re working on all types of industry projects, from health care and education where we do a lot of school projects aside dealing in high end residential where have the products to support,” he added.

According to Mr. Ghazale, the real estate and construction sector is currently experiencing a boom and as dealers in household and décor accessories , they are ready to work with industry stakeholders to provide decent accommodation for both the high and low end of the housing market.

“Everybody deserves to have, you know, a decent place a decent living quarters, a decent sanitation system, and we are here to support in that. So I believe just

to go back and conclude on your question. I think that Ghana can only go up upwards and I believe that hand in hand we can all strive to make it a better place,” he said.

Sales and Marketing Support Specialist at Haiflow, Mia Ghazale, said the of the event: “Today’s cheese, wine and design event, we basically invited architects, interior designers and real estate development companies to our showroom to mingle outside of their work environment,” she told journalists in an interview.

She added: “The idea is to interact, see what’s new in the country with the projects and to introduce to them our new product lines. It’s a sales activation as well, but we’re mostly doing it to get to know everyone that we might not know at the moment.”

According to Mia, the maiden networking event has been successful adding that it would be held regularly as a sales activation and customer engagement activity.

Executives of both Haiflow and Spain-Ghana Chamber of Commerce at the event

New guidelines to ensure good usage of organic fertilizer in Ghana launched

By Patrick Paintsil Alliance for Green Revolution in Africa (AGRA) has launched and handed over an organic fertilizer guidelines document to the Plant Protection and Regulatory Department of the Ministry of Food and Agriculture (MoFA) to guide the application of organic fertilizer as part of efforts to transform the nation’s food and agriculture sector.

The guideline will be an essential tool for fertilizer inspectors and analysts who will regulate the provision of high-quality organic products to farmers and also serve as a useful reference material on the prudent use of organic fertilizer for all relevant industry players.

The new document is a product of strong collaboration between AGRA and the PPRSD of MoFA to combat the alarming rate of land degradation in Ghana and West Africa in general where it is estimated that about two-thirds of the its landscape is degraded or severely degraded.

“The agricultural sector is ripe for an increased uptake of

fertilizers given that fertilizer use in West Africa remains the lowest globally with an average below 20kg/ha.

With the nutrients depletion currently observed, this is a critical factor to consider if we are to increase yields,” AGRA’s Regional Head for West Africa, Dr. Lionel Axel Kadja, said at the document handing over and awareness creation ceremony in Accra.

“We, as AGRA with the support of its PIATA partners

have been investing in 3 main areas: integrated soil fertility management approach; the association with organic fertilizers; and the use of bio fertilizers to improve output and reduce import bills of a certain number of key commodities,” he added.

Acting Director of CSIR –Soil Research Institute, Dr. Edward Yeboah, indicated in his remarks that the decline in soil fertility in Sub-Saharan Africa is a major challenge to sustainable

agriculture.

“This is mainly due to the poor inherent parent materials through which the soil is developed such as granite and phyllite. These parent materials are low in primary minerals needed for crops,” he said.

According to him, proper soil management has the potential to improve farm productivity hence the need to provide effective guidelines to regulate the industry with respect to the quality of organic fertilizer.

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WEDNESDAY, JUNE 8, 2022

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WEDNESDAY, JUNE 8, 2022

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The Commonwealth City of Accra Commemorates the Queen’s Platinum Jubilee with a Beacon Lit from H.E Rebecca Akufo-Addo By: Baptista S. Gebu (Mrs.) At 9:15pm GMT, the commonwealth city of Accra on June 2, 2022 held a special event at the University of Ghana, Legon to commemorate the queen of England’s platinum Jubilee celebration.

Her Excellency Rebecca Akufo-Addo – the first lady of the Republic of Ghana and special guest of honour lit the beacon for the commonwealth city of Accra. In her address, Her Excellency said; “Today 2nd June 2022, another unique milestone in history the Queen’s Platinum Jubilee which is her Majesty, the Queen’s 70th year as monarch and head of the Commonwealth is been celebrated. This is a feat no previous monarch has achieved reason for which more than 1,500 beacons will be lighted throughout the United Kingdom, and one in each of the capital cities of the Commonwealth countries in recognition of the Queen’s long and selfless service. I am very delighted to light the beacon for Ghana this evening”. The second lady H.E Samira Bawumia, a Rotarian was glad to be present to grace the all-important occasion.

The British High Commissioner, H. E Harriet Thompson in her remarks said there is a long and unbroken tradition in Britain

of celebrating royal jubilees, weddings and coronations with the lighting of beacons (bonfires). In 1897, beacons were lit to celebrate Queen Victoria’s Diamond Jubilee. In 1977, 2002 and 2012, beacons commemorated the Silver, Golden and Diamond Jubilees of The Queen, and in 2016 Her Majesty’s 90th birthday.

In a welcome address delivered by Mrs. Adjei-Mensah the registrar, she celebrated women by appreciating the allfemale led leadership of the university and highlighted the University’s demonstration and believe in women. The Accra Rotary Coordinator Past Assistant Govenor Jack Dotsey highlighting the purpose for the program mentioned the commonwealth of Accra’s stance in using the occasion to provide empowerment and capacity building for women and girls as well as celebrate women’s achievement. The chairman of the occasion Past District Governor (PDG) Jeffrey Afful in his opening remarks emphasized Rotary International President Shekhar Mehta’s call for Rotary members to put improving girls’ futures at the forefront of their work. “Can you imagine a world where we all work to support empower women

and girls” the chairman said.

PDG Yvonne Kumoji-Darko the first female Governor of Rotary District9102 and the first for Ghana after almost 64 years shed more light on Rotary district 9102’s commitment to empowering women and girls. She mentioned a number of projects undertaken by the district to include the girls focused project on coding. “Rotary in the last 117 years has been at, and is still at the forefront of improving the lives of people and ensuring that no one is left behind. The 7 Areas of Focus have been carefully chosen and designed to bring relief and empowerment to our needy communities”. She encouraged society to prioritize projects that improve the health, well-being, education, and economic security of women in our communities and around the world. She mentioned it took Rotary International 84 years to accept the first females into Rotary. And she further stated that, in a span of 35 years the first female Rotary International President has been elected and she will take office on the first of July, 2022, barely a month from now. Empowering women she added should mean supporting them to ensure that their basic

needs are met whiles working to transforming the structures and institutions that reinforce and perpetuate gender discrimination and inequality. It includes helping women develop self-confidence, make their voices heard, exhibit sheer steely determination and work hard, rise to the top with hard work and perseverance, strive to break the ceiling, and be counted.

The celebration was interspersed with cultural and musical performances, poetry recital and melodious tunes.

Present were the Deputy Foreign Affairs Minister – Hon Kwaku Ampratwum –Sarpong, the Major of Accra – Hon Elizabeth Sackey, the District Governor Elect Victor Asante, the Queens Platinum Jubilee Beacons Planning committee, Ghanaian Queen mothers, Rotarians, Rotractors, the media as well as other dignitaries and guest.

The program was put together

by Rotary District 9102 in partnership with the University of Ghana Legon and the Accra Metropolitan Assembly under the leadership of Jack Dotsey the Accra Rotary Coordinator.

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WEDNESDAY, JUNE 8, 2022

No gov’t has done as much in TVET as NPP – VP Bawumia The commitment of the Akufo-Addo administration to the revamping and expansion of Technical and Vocational Education and Training (TVET) is unmatched, Vice President, Dr Mahamudu Bawumia, has declared.

This commitment has been manifested in various forms, from enactment of appropriate legislation, through the massive investments in the rehabilitation, refurbishment and provision of infrastructure in existing training institutions, construction of Stateof-the-art TVET institutions, and the rolling out of the Free TVET programme to complement the Free Senior High School (FSHS) programme, with many more in the offing.

Speaking at a sod cutting ceremony for Phase One of the construction of 32 State of the Art TVET facilities at Abrankese, Greater Kumasi on Monday, 6th June 2022 Vice President Bawumia said “What we are witnessing today forms part of a broader government plan to make Ghana’s education system become responsive to industry needs.

“At the start of our administration in 2017, President Nana Addo Dankwa Akufo-Addo set out a clear plan to industrialize Ghana and one of the key pillars of

that agenda is to revamp and modernize TVET so that it becomes responsive to the needs of industry. Also hinged on this vision is the dream to make TVET aspirational among the youth.

“The President’s goal is to make Ghana a world-class centre for skills development and a leading country in technical and vocational education training (TVET) delivery in Africa and also make skills acquisition aspirational for all Ghanaians.”

The NPP Government, Dr

Bawumia indicated, has worked over the past five years to improve on governance and management by establishing the Commission for TVET (CTVET) and the TVET Service through the passing of Act 1023 and Act 1049 respectively to enhance quality, expand access, and increase funding for TVET, while undertaking major upgrades in infrastructure.

“This government’s commitment to transforming the TVET landscape is unmatched by any other government. In addition to these 32 new TVET institutions we are about to construct, Government has massively invested in TVET over the last five years.

“These include the upgrading and modernization of all the erstwhile 34 National Vocational and Technical Institutes (NVTI); upgrading and modernization of Head Offices together with 10 Regional Offices; upgrading and modernization of 5 apprenticeship offices across the country, and upgrading and modernization of the Opportunity Industrialization Center in Accra comprising the construction, rehabilitation and equipping of laboratories, workshops, additional classrooms, hostels, administrative, two (2) new foundries and machining centers - one in CSIR (Accra) and the

other at KNUST, Kumasi to be inaugurated in Accra.

“In addition, are new workshops (computer, electrical, electronic, building construction, mechanical); rehabilitation of buildings in two (2) Technical institutes (Abetifi and Don Bosco) and four (4) Senior High Technical Schools (Kyebi SHTS, Dagbon State SHTS, St. Georges SHTS and GSTS); construction of five (5) new District TVET centers of excellence ongoing with that of Anyinam and Pakyi No. 2 near completion while that of Assin Jakai in Central Region, Akomadan and Manso Abore in Ashanti Region will start soon.

“Also, we have completed and inaugurated the rehabilitating and upgrading of ten (10) Technical Universities and thirteen (13) Technical Institutes which includes construction of new workshops/laboratories and supply and installation of equipment fit for disciplines in electrical and electronics engineering, welding technology, automotive maintenance, civil engineering, and mechanical engineering.

“It is this government’s goal and objective to actively promote TVET and to ensure that it becomes the preferred choice of the Ghanaian youth.”

Japan Motors launches new Foton tractor head

Japan Motors Trading Company Ltd. ( JMTC), sole distributors of Foton range of vehicles, has launched the new Foton Auman GTL AMT (Automatic Mechanical Transmission) tractor heads with Cummins engine and ZF gearbox.

Foton Auman AMT models, the most popular and successful in the Chinese market and its official launch is another historical milestone in the Ghanaian automobile industry by Japan

Motors.

In a release issued by the company on June 3, it said the Foton brand, within the last 26 years of its introduction, has recorded a high mark sale with over 10,000,000 units across the globe, making it the number one selling brand in China.

It said in 2007 and 2017, Foton established a joint venture with Cummins, the world’s high-standard diesel engine manufacturer, and ZF, the world’s most advanced gearbox

manufacturer, to build a super power chain.

Launching the truck, the General Manager Sales & Marketing-JMTC, Amine Kabbara, said the Japan Motors Group was proud to see FOTON brand taking more and more market share and was becoming a trusted brand in the commercial vehicles sector.

“The world today is shifting towards a more environmentally friendly, fuel efficient, easy drive and high-performing commercial vehicles. I am glad to say that all these points have been factored in the design of this new GTLAMT model which stand for “Global Technology Leader”, and “Automatic Mechanical transmission”, he said.

He said the GTL truck was born out of a great partnership between Foton Motor Group, Cummins Incorporation, USA and ZF Group in Germany, to offer a total transportation solution to stakeholders within the transport and haulage sector.

The West Africa Regional General Manager for Foton, Tommy Wen, said in the release that; “we bring

to the good people of Ghana the new generation of products and as leaders in commercial vehicle manufacturing in China, through years of research and development, testing and improvement, Foton came out with the New GTL, which is designed to match with the world’s top technology power chain on the new product platform, including Cummins Engine, ZF gearbox, axle and suspension”.

He said the new GTL has seen a huge improvement in safety, fuel-saving efficiency, durable cost savings and comfortable for longer driving.

He said before the official launching of the GTL to the market, Foton completed three years of tracking tests in Africa land, to ensure that its products could fully comply with the African and Ghana markets.

“At the same time, with the assistance of Japan Motors, we have established sufficient spare parts reserves and good aftersales service support for our cherished customers,” he said.

WEDNESDAY, JUNE 8, 2022

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WEDNESDAY, JUNE 8, 2022

Rotary Clubs to end open defecation in 25 communities

By Sampson Manu The people of Donkoase a farming community in the Amansie Central District as well as 24 communities in 6 other districts in Ghana can now heave a sigh of relief after years of engaging in open defecation and lack of access to clean water.

This was after the Rotary Club of Obuasi through the Clean Water and Sanitation Ghana project cut sod for the construction of a mechanized borehole and household microflush toilets for the people of Donkoase.

According to the World Bank’s report in 2020, 17.78% of Ghana’s population 2020, had no access to decent toilets hence were involved in open defecation.

As at 2015, only one rural household out of ten were using improved household toilets while three in every ten of them practiced open defecation. No district in Ghana has achieved an open defecation-free status.

Again, it has been reported that there is limited private sector interest in rural basic sanitation since there is a perception that investments in rural sanitation businesses are not profitable.

Improved sanitation technologies such as the household

microflush toilets are affordable, hygienic, devoid of flies and environmentally friendly. Rotary seeks to replace old pit latrines with microflush toilets in Ghana.

To address these challenges, the Rotary Club of Obuasi has partnered Rotary Club of Cape Coast Central and Rotary E- Club Premier 7040, Montreal, Canada to construct 30 mechanized boreholes, 10 toilets for schools as well as 160 household toilets for 25 communities in 6 districts of Ghana.

The project which is expected to be completed in one( 1) year is estimated at a cost of $160,000 with funding from The Rotary Foundation through Rotarians in Canada, USA, India and Ghana to impact 25,000 livelihoods.

Speaking with the media at the sidelines of the sod cutting ceremony, the outgoing president of the Obuasi Rotary Club, Sarwan Kumar said after undertaking needs assessment exercises, the Club resolved that the major challenge facing most communities in Ghana was lack of access to clean drinking water and proper toilet facilities. “ Having been privy to the challenges communities in

Obuasi and its surrounding areas face regarding access to clean water and place of convenience, we at Rotary Club of Obuasi and partners decided to put our resources together to assist them.

We believe that this will go a long way to improve sanitation and prevent water related diseases in beneficiary communities.

He mentioned that members of Rotary Club of Obuasi were committed to helping the less privileged in the society to improve their living standards.

The President-Elect of Rotary Club of Obuasi, Elizabeth Hamenoo also emphasized that as a humanitarian group they have always supported impoverished communities to have access to basic social amenities. She added that they remain committed to the provision of clean water and sanitation in Ghana, an area of focus for Rotary and to end open defecation in our local communities.

She appealed to users of the facilities to protect and maintain them when completed so that they could stand the test of time.

Nana Kojo Ntosuo III, the Chief of Donkoase lauded Rotary Club of Obuasi for coming to their aid.

He revealed that accessing potable water and decent toilets facilities has been a major challenge for the community.

He pledged to offer his support throughout the construction phase. He again promised to ensure the facilities are properly maintained when completed.

Richard Osei, the Assembly member for the area recounted the ordeal his people go through accessing clean water and decent toilet. He said “ Donkoase a population of 1,200 people will now have access to household microflush toilets to replace the old dilapidated pit latrine”.

Whiles praising Rotary Club of Obuasi and partners for the gesture, Mr. Osei appealed to them to consider extending it to the surrounding communities.

Rotary is an international service organization formed in 1905 to bring together business and professional leaders to contribute to provide humanitarian services and to advance goodwill and peace around the world.

It is a non-political and nonreligious organization open to all.

WEDNESDAY, JUNE 8, 2022

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OBG launches new report on agriculture & solutions to tomorrow’s challenges …. produced in collaboration with OCP Group, strategies that are available to the continent in order to face the food, economic and climate challenges.

Oxford Business Group (OBG), a business intelligence and consultancy firm, has launched a new focus report. Titled “Agriculture in Africa 2022”, this is the third study of the group devoted to this major theme for the continent and produced in collaboration with OCP Group, leader in plant nutrition and the world’s first producer of phosphate-based fertilizers.

With Africa’s population expected to double by 2050, according to the World Bank, and food demand expected to grow by 55% by 2030, the challenge of food security is a major issue, where 85% of food is nowadays imported, according to data published by the United Nations Conference on Trade and Development (UNCTAD).

While the continent has the world’s fastestgrowing agricultural sector, with an average annual growth rate of 4.3% since 2000, the development of the vast amount of uncultivated arable land will not be enough to meet the growing demand for food. OBG’s Focus Report explores the various possibilites and concrete solutions available to meet the food needs of the population, while at the same time integrating the sector into a sustainable and climate change-friendly development.

Increasing production will not be possible without increasing productivity. The report highlights the need for circular and green economy practices, such as converting organic waste into productive inputs or recycling water, alongside climate-smart agriculture intervenions.

It also stresses that boosting productivity and increasing incomes for smallholders, who produce 80% of the food in sub-Saharan Africa, requires greater use of renewable energy technologies and increased support for the institutions that generate them, including research, development and engineering systems, lamenting the lack of funding currently available for these ecosystems.

Increasing productivity also helps to preserve ecosystems and biodiversity.

The study also argues that while Africa has the potential to feed the world’s population in the coming years, in order to accomplish this, land must be developed in a sustainable manner by also addressing issues such as deforestation and inefficient fertiliser use.

This would require the adoption of a green economic model, which is characterised by being low-carbon, resource-efficient and socially inclusive.

The report also includes four interviews with renowned experts. Hanane Mourchid, Executive Director for Sustainability and Green Industrial Development of OCP Group, offers insights into how the circular economy and sustainability policies will help address the challenges that agriculture faces in Africa.

In addition, she explains the importance for companies to implement sustainability policies and how the private sector and academia can work together to implement smart farming practices. Tony Siantonas, Director, Scaling Positive Agriculture, World Business Council for Sustainable Development, presents solutions for enhancing sustainability and food security, emphasising the importance of maintaining soil health and the need for long-term investment and innovation.

Kaushik Majumdar, Director-General, African Plant Nutrition Institute, advocates smart and calibrated plant nutrition to counter the adverse effects of climate change and discusses the key role of public-private partnerships in R&D and knowledge transfer in the African agricultural sector. Finally, Hicham El Habti,

President of the Mohammed VI Polytechnic University (UM6P), explains how technology and innovation can concretely help farmers.

For the third consecutive year, OBG has been supported by OCP Group to produce this multifaceted and insightful analysis, which will be complemented by an illustrative video and podcast on the report’s key findings, prospects, challenges and issues for the sector.

Karine Loehman, OBG’s Managing Director for Africa, welcomed the release of this comprehensive report: “A range of solutions exist to enable African agriculture to adapt to the food, economic and climate challenges.

There is an urgent need to invest in human capital so that people can fully reap the benefits of the technological advances and innovative and dynamic financing instruments that exist today.’’

“Agriculture in Africa 2022” is part of a series of tailored studies that OBG is currently producing, which includes ESG Intelligence and Future Readiness reports, and other highly relevant, go-to research tools, such as countryspecific Growth and Recovery Outlook articles and interviews.

The report can be downloaded at the following address: https://oxfordbusinessgroup.com/news/ focus-report-how-can-agriculture-africa-meetchallenges-future Click here to subscribe to Oxford Business Group’s latest content: http://www. oxfordbusinessgroup.com/country-reports

TUESDAY, 7TH JUNE, 2022

Danish Constitution Day 2022

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H.E. Tom Nørring, Ambassador of Denmark to Ghana

Leading a new approach to bilateral diplomacy in Ghana

By Patrick Paintsil Denmark celebrated 60 years of diplomatic relations with Ghana last year, deepening a seamless and mutually engaging socio-political and economic partnership that reaffirms its position as one of the first countries recognize and work diplomatically with our nation when it gained its independence and sovereignty from colonial rule.

It has a been a successful diplomatic marriage that has birthed several benefits to both parties, with Ghana obviously being the biggest beneficiary in terms of technical and infrastructural support in almost every sphere of the economy.

For decades of this cooperation, Denmark is largely positioned as a dependable and reliable donor and development aid partner, despite being a relatively small country.

Through its developmental agency, DANIDA, Ghana has witnessed the construction and subsequent ownership of turnkey projects in the several sectors of healthcare, education, judiciary and maritime transport as well as interventions in human rights and access to clean water.

But in 2020, Denmark phased out its development assistance to Ghana to be replaced by a new approach that runs on the wings of Danish businesses and agencies that are committed to making marked impact in the local economy.

“It’s not as though we totally phased out because we decided to continue with what we call transitional assistance in the area of good governance, democracy and human rights,” Danish Ambassador to Ghana, Tom Norring, said in an interview with

Business24.

To supplement Government’s effort in providing access to water, Denmark has together with Ghana Water Company – and with UNICEF as implementing partner – supported eight low income communities in Kumasi and Accra, with access to clean water. This support has a direct impact on health systems, especially for women and children.

Whilst Danish water technology giant leads innovations in clean water access in deprived and remote parts of Ghana, another Danish global pharmaceutical brand Novo Nordisk is championing investments and health solutions in the prevention, treatment and care for diabetes which is a major health concern in this country.

Investments are core to further developing Ghana’s economy and thus also of the Danish approach to future cooperation with Ghana. In this regard it is important that Ghana ensures framework conditions that are conducive to investments, including providing the predictability needed to reach the full potential of the private sector.

These a few of the Danish government’s new bilateral diplomacy strategy for Ghana in the absence of directly funded developmental programmes and donor grants, in addition to its strong support to the country’s dominant maritime and trade sector.

In furtherance of this, the Danish Embassy has now deployed strategic sector cooperation where it no longer bring grants to Ghana but has sector experts at

the Embassy who lead the newly-formed expert-to-expert cooperation as the bridge or link between Ghanaian businesses and their Danish counterparts, and according to the ambassador this arrangement has been largely successful.

“We have advantages and built expertise in various fields including water technology that we now export to the world and as part of our focus; we still think that they serve a huge purpose in Ghana as we seek to transition from aid to trading,” Mr. Norring noted.

Denmark ranks first in Europe in the areas of digitalization and tech-based innovations and among the top-five in the United Nations aside boasting one of the strongest e-governments across the world and according to the ambassador, the embassy is also committed to the digitalization of the Ghanaian economy.

“This is again an area that we’ll like to contribute because we have frontrunners in the fields of tech and digitalization; we are very good at setting up businesses and offer solutions on the ease of doing business.

We have a lot to contribute; we have Danish companies that have many years of experience in building up and digitizing the public sector in Denmark.”

This is Denmark’s new way of establishing partnerships with Ghana and its business community which it believes will be very sustainable within the context of public private partnerships that will position Ghana as a strong trading partner and not as a recipient of aid.

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Margins Group shares success story as it celebrates Danish Constitution Day This year, the Margins Group of companies will celebrate its 33rd anniversary. Our story is one of continuous progression; a small start-up company built on a single $100 bill and an unwavering commitment to our vision to be Global leaders in Identification, Data and Document Systems, Transactions and Solutions. Today, that start-up company has five thriving subsidiaries, hundreds of employees and is on a mission to take that expertise global.

Our products, services and solutions have gone through their own evolution, from the document finishing products of the 90’s; printing, binding and lamination. And today; software development, digitalization, the Internet of things, and our biggest product thus far, the provision of a unique, verifiable multifunctional smart card affectionately called The Ghana Card.

The Ghana Card has been dubbed one of the foremost National Identity Systems in the world; with its layers of security, The Ghana Card has 3 profiles; the E-ID profile, the passport profile (ICAO), and Match on Card profile that facilitates the storing and processing of biometric data. All the data stored on the Ghana Card is highly encrypted in accordance with international standards, and by PKI and digital certificates that prevent unauthorized access to the data on the card and the database.

Its dynamic flexibility facilitates access and connects with all interfaces where identity is required both digitally and physically; this card is a game changer is this new digital economy.

Margins ID Group and its subsidiaries, are extremely proud to have conceptualized, designed and built the Ghana Card as well as the Non-Citizen Ghana Card both in use by over 17 million Ghanaian

nationals and non-nationals.

With globally respected certifications such as EMV, (VISA & Mastercard), ISO and Integraf, we have set the pace as identity architects in Ghana and delivered fully integrated products, solutions, and services to clients both locally and internationally.

Our success story could not be told without highlighting key collaborations – collaboration between our exemplary staff of industry experts, with our public partners the National Identification Authority of Ghana, and our clients from both the public and private sector.

My collaboration with Denmark is built first on friendship; friendship with my Danish partner Peter Blom and our mutual love of business. Our friendship has had serendipitous results – the building of the internationally certified production facility Intelligent Card Production Systems (ICPS) in Accra, Ghana and other notable initiatives. Margins ID Group will continue to take its expertise, products, services and solutions global; you can expect many international collaborations in the years to come.

I wish all Danes a very Happy Danish Constitution Day! From me to you, Tillykke; Congratulations.

Moses K. Baiden JNR

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Fun facts about Denmark 1. One of the happiest countries in the world Denmark has been named the world’s happiest country on numerous occasions, and remains to be very near top of the UN World Happiness Report, we’re currently second. If you want a few insider tips on how you can get a bit more happiness in your life, you should check out our guide on 12 ways you can get happy in Denmark.

6. We don’t have any mountains, so biking is never uphill Denmark is known around the world for its bike culture, and the fact that our country is quite flat is definitely an advantage in this matter. But we also have more than 12,000km of cycle tracks and lanes throughout the country which makes biking in Denmark a safe and respected way to travel. We even enjoy cycling so much that 75% continue biking all through winter and we have a Cycling Embassy.

7. More than 50% of Copenhageners cycle to and from work every day Copenhageners cycle an average of 3km every day and this adds up to people cycling 35 times around the world every day in Copenhagen!

The bicycle is clearly the preferred mode of transport in Denmark - only 4 out of 10 Danes own a car but a whopping 9 out of 10 Danes own a bike. Some of us have more than one!

2. The Danish language has no word for “please” Don’t think we Danes are impertinent if we forget to say please when asking for a favour, we’re simply not used to use it in a sentence as there is no direct translation for “please” in Danish.

3. The oldest flag in the world First acknowledged in 1219, the Danish flag “Dannebrog” remains the oldest state flag in the world still in use by an independent nation.

Turning 800 years has never looked better - and we’ll celebrate it in true Danish birthday fashion, with a bunch of flags of course.

8. The Danish alphabet has 3 additional letters: Æ, Ø, and Å The Danish language is said to be one of the most difficult ones to learn due to a bunch of silent letters and complex pronunciation. But we’ve added a bit more to the challenge. Let us introduce you to three letters you won’t come across in the English alphabet: Æ, Ø and Å.

4. We have a word for that cosy feeling of togetherness, Hygge Hygge is a term that goes far in illuminating the Danish soul. In essence, Hygge is about creating cosy social gatherings and intimate gettogethers with family and friends. It’s the feeling of wellbeing and a warm atmosphere. You can also feel the notion of hygge in the streets of Copenhagen - literally. Walk down some the old narrow, cobbled streets, dating back several hundred years. These streets invite you to take intimate walks next to colourful houses, small coffee shops and vintage boutiques.

5. Danish pastry actually origins from Vienna In the 1840s, some Austrian bakers settled themselves in Denmark and introduced the beloved pastry. For this reason Danish pastry is actually called “wienerbrød” or “Viennese bread” in Denmark. But hey, let’s keep this well-hidden secret between us, shall we? Because, we’ve certainly perfected the craft of pastries. Just saying.

9. We have some weird Danish traditions We don’t mind admitting that some of our Danish traditions seem rather weird to the modern eye, as they include batting at a black cat in a barrel at the annual carnival “fastelavn” and burning a witch on a bonfire at Sankt Hans (midsummer’s eve). But don’t worry, we’ve toned down the craziness a bit, so nowadays the barrels are simply decorated with cut out versions of black cats and the bonfires only burn doll versions of witches.

10. You’ll find the two oldest amusement parks in the world in Denmark If this isn’t a fun fact, we don’t know what is! Denmark is home to the world’s oldest amusement park, Bakken, just a 20 minute train ride from Copenhagen Central Station. The second oldest, Tivoli Gardens, is right next to the same station smack bang in the centre of our vibrant capital.

Both of them are a great starting point for a fun-filled day - and that’s just a fact!

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11. LEGO® was invented by a Dane The world-famous LEGO® brick was invented by Dane Ole Kirk Christiansen in the town of Billund in 1949. Nowadays you can visit the original LEGOLAND® and learn more about this renowned toy at LEGO® House. We’re also proud of the fact that since 2018, LEGO’s toy plants and other leafy pieces have been made with sugarcane-based plastic. That’s right. And, they’re close to perfecting the bricks made with recycled plastic. Fun and friendly to the planet! What could be better?

12. Denmark has 444 islands, but only 76 of them are inhabited This means that there are plenty of opportunities for you to go on an island getaway! Some of our favourite and most popular island retreats are the islands of Ærø, Rømø, Bornholm, and Læsø. Bornholm and Samsø were voted as the EU’s most sustainable islands back in 2020, so if you like green living, look no further.

13. You’ll never be more than 52km from the ocean in Denmark!

If you’re looking for a real challenge while you’re in Denmark, try not to see the ocean at one point. This is one challenge you’ll most likely be unable to complete as you cannot be more than 52km from the ocean in Denmark.

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14. The Copenhagen harbour is clean enough to swim in There are plenty of sandy beaches within 30 minutes of the city centre, but you can also just take a dip in harbour as the water is clean enough to swim in. You’ll find a handful of harbour baths along Copenhagen’s harbour, such as at Islands Brygge, Kalvebod Brygge, and Nordhavn. Oh and by the way, you’ll also find clean harbours in our other big cities Aarhus, Odense and Aalborg.

15. You can drink water from the tap Not only are our city harbours clean enough to swim in, but we can also drink water straight from the tap. You can enjoy this privilege as well during your stay as you’ll find some of the world’s cleanest tap water in Denmark.

16. There is an unofficial Danish law for “no one is better than the other” It is called “Janteloven”, and it plays a key part of the Danish culture and mentality where everyone is accepted and equal. Janteloven is also a main reason why Danes tend to say that it goes well for us (Denmark as a whole) when for instance Nikolaj Coster-Waldau plays Jamie Lannister in Game of Thrones or Lukas Graham’s album reached No. 3 on the Billboard 200.

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Danish agribusiness firms explore opportunities in Ghana’s agriculture sector A delegation of eight Danish companies visited Ghana from the 17th - 20th May to explore the market opportunities and expand the strong commercial relations between Denmark and Ghana in the food and agriculture sector.

The trip was organised by the Embassy of Denmark in collaboration with the Danish Agriculture and Food Council.

The main theme of the visit was the challenge of post-harvest food loss and the delegation explored how innovative Danish solutions can help solve this problem and at the same time increase sustainable economic growth in the food and agriculture sector in Ghana.

Through the interactions, the companies sought to gain market insights and build relationships with potential customers and key partners in the food and agriculture sector.

Post-harvest food loss and waste is a major challenge in Ghana, and it is estimated that more than 50percent of the production in selected value chains is lost before it reaches the consumer.

Danish Ambassador to Ghana, Tom Nørring, said of the event: “Based on the principle of producing more with less, Danish companies are world-leaders in developing sustainable solutions that improve resource efficiency and add value to the agricultural sector.

That is why Danish companies are in a strong position to collaborate with Ghanaian partners in scaling up the agroindustry in Ghana and we look forward to facilitating that with this delegation.”

As part of the programme, the delegation visited several companies in greater Accra including Niche Cocoa Industries, Blueskies, Arla Foods Ghana and Transmed with the aim of showcasing successful businesses in Ghana and exploring the challenges that call for action through partnerships.

The delegation also met with regulators and government stakeholders to learn more about relevant sector programmes and the framework conditions for doing business in Ghana, hosted by Ghana Investment Promotion Centre.

Finally, the embassy of Denmark and

the Danish Agriculture and Food Council also hosted a business forum with a core focus on matchmaking and B2B meetings as well as discussions on how reducing food loss can lead to a more green, safe and prosperous food and agriculture sector in Ghana.

The Danish companies participating in the delegation are Arla Foods Ghana, Cimbria, DanBred, Danfoss, Foss Analytics, Maersk Ghana, Orana, and TITAN Containers.

Some are exploring the market opportunities in Ghana and some have already made major investments in Ghana as a regional hub for their activities.

The companies provide solutions in almost all areas of the food and agriculture value chains such as cold chain, transport, food safety, food processing, storage, machinery and more.

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Best places to visit in the magical city Copenhagen, the capital of Denmark Denmark’s capital, Copenhagen, is by far the largest city in the country. Here, you’ll find a multitude of tourist attractions to please even the pickiest of travelers. For instance, the Parliament (Folketing) at Christiansborg, familiar to many through the Danish smash-hit TV series Borgen, and the residence of the Royal Family at Amalienborg are unmissable.

Arguably Scandinavia’s most relaxed capital city, Copenhagen has a distinctly European feel, a friendly street-life, and unique café culture that will make you want to return time and time again. The city is perfect for wandering through at your leisure, or alternatively, make like a local and hop on a bike, the preferred mode of transport for many.

Throughout the city, there’s a nautical vibe reflected in the colorful shore-side homes of Nyhavn and tall ships docked along the quays.

Remember, too, that this is where many would claim the much-vaunted Nordic food revolution began. As a consequence, Copenhagen is home to a great number of cutting-edge restaurants including world-renowned Noma, where tables must be booked months, if not years, in advance.

For ideas on the best places to visit in this magical city, read our list of the top attractions in Copenhagen.

On the tiny island of Slotsholmen is the Danish seat of government and an attraction that should top any visitor’s agenda. Christiansborg boasts more than 800 years of history and today, the palace is home to the Parliament, the Prime Minister’s Office, and the Supreme Court.

In addition, several parts are still used by the Royal House, although thankfully, much is open to the public. Occupying the site where Bishop Absalon built the earliest fortifications of the city in 1167, the ruins of the bishop’s castle and the medieval fortress were discovered when the present palace was under construction. They can now be seen by visitors.

3. National Museum of Denmark

1. Tivoli Gardens

Walking from Town Hall Square and crossing H.C. Andersens Boulevard brings you to the inspiration behind the Disney theme parks: the famous Tivoli amusement park and pleasure gardens dating from 1843.

It’s impossible to miss the grand entrance at Vesterbrogade. Here, visitors are welcomed through a dramatic archway flanked by columns.

No matter what time of year you visit, Tivoli feels festive.

Inside the gardens, you’ll wind your way through a village complete with cute shops and a lake adorned by well lit trees that are mirrored serenely in the water. That’s likely the only serenity you’ll find in this miniature theme park, which brings out the kid in every visitor.

Here, you’ll also find more than 20 attractions, including a roller coaster; roundabouts; halls of mirrors; pantomime, puppet, and openair theaters; a wealth of restaurants and cafés; flower gardens; and a Moorish-styled concert hall, which is particularly pleasing when lit up at night.

The park is famous worldwide and appears in many movies. Indeed, some might say it’s the most famous attraction in Copenhagen. At Christmas, Tivoli becomes an extravagantly decorated wonderland.

An easy 10-minute walk from Tivoli along Vestergade brings you to the National Museum (Nationalmuseet), a must-see attraction for anyone with an interest in Danish history and culture.

Some impressive runic stones are on display here, and the Danish history collection includes a sun chariot (cult object in the form of a cart) that is more than 2,000 years old, Romanesque and Gothic church fittings, Danish porcelain and silver, and collections of antiquities and coins.

The ethnographical collection, including items from Greenland, gives an excellent impression of life among the Eskimos. Inside, you’ll also find collections from other interesting areas including, Asia, Africa and Oceania, as well as the culture of the Indians.

That’s not all! Here, you’ll also find the Prince’s Palace (1744), a Rococo building influenced by the French style of the period. Around fiveminutes’ stroll from the National Museum, Thorvaldsen’s Museum is also worth a visit to view spectacular works from this famous Danish sculptor.

4. Nyhavn Harbor

2. Christiansborg Palace

To the rear of Amalienborg lies Nyhavn (New Harbor), which is flanked by a street of the same name. This enchanting area is a hub of activity, especially during summer. Brightly painted gabled buildings line the canal, adding a splash of color to dreary days and enticing visitors to stop in for a peek at the wares for sale in the shops and a tasty bite in the restaurants and cafés that call this place home.

At the end of the harbor, an anchor serves as a memorial to Danish

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sailors who lost their lives in World War II. Nyhavn was once a disreputable quarter of the city, but now, with its majestic feel, it is a particularly charming part of Copenhagen that features in countless images of the city.

Idyllic museum ships lie at anchor, including a lightship (Fyrskib) dating from 1885. From Nyhavn, hydrofoil and catamaran services operate to Sweden, as well as sightseeing trips around the harbor and along the canal.

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6. Town Hall Square

4. Amalienborg Castle

Less than one and a half kilometers from Rosenborg in the Frederiksstaden quarter, you’ll find Rosenborg’s sister palace, Amalienborg, along with its serene waterfront gardens.

The four palaces facing onto the square were originally built as homes for the nobility, but were taken over by the Royal Family after a fire at Christiansborg in 1794. The palace takes its name from Queen Sophie Amalie who had a sumptuous summer retreat on the site, which also burned down in 1689.

The area was designed to be a model society with the King as focal point and the aristocracy (the four palaces) surrounding him. Today, Queen Margrethe II and her family occupy the upper story of Christian IX Palace, and the Moltke Palace is used for official purposes. The soldiers of the Royal Guard with their bearskins and blue (on festive occasions red, white, and blue) uniforms are a unique symbol of the city.

Busy Town Hall Square (Rådhuspladsen) is dominated by Copenhagen Town Hall (built between 1892 and 1905), which is based on a mix of Italian Renaissance and medieval Danish architecture.

For marvelous views, you can climb the tower; at 106 meters high, it is the tallest in the city. The building itself is richly adorned with sculptures and paintings.

Above the main entrance is a figure of Bishop Absalon in gilded copper, and in the Great Hall are busts of Danish notables such as Martin Nyrop (1849-1921), the architect who designed the building, the sculptor Bertel Thorvaldsen (1770-1840), Hans Christian Andersen (1805-76), and the physicist Niels Bohr (1885-1962).

The World Clock at the main entrance was designed and constructed

by Jens Olsen in 1955 and shows not only the time and date, but also various astronomical constellations.

7. The National Gallery of Denmark (Statens Museum for Kunst), Copenhagen

5. Strøget Shopping Mile

The National Gallery of Denmark (Statens Museum for Kunst), Copenhagen | Bjrn Giesenbauer / photo modified

Strøget Shopping Mile | Kenny Louie / photo modified A stroll of around five minutes from Christiansborg takes you to the bustling shopping area of Strøget where you’ll find a wealth of boutiques, cafés, and restaurants.

Strøget, a nickname from the 1800s, consists of several roads crisscrossing one another, beginning at Town Hall Square (Rådhuspladsen) and ending at Kongens Nytorv. Some adjoining streets on the north have also been pedestrianized.

International brand-name stores such as Max Mara, Prada, Louis Vuitton, and Hermès tend to be at the end of the street facing the direction of Kongens Nytorv. Follow Strøget towards City Hall Square for more affordable shopping at H&M, Weekday, and Zara.

The National Gallery of Denmark displays the largest collection of Danish art from the 1700s to the present day, as well as impressive works from around the world.

Highlights include the Danish and Nordic art exhibition, which spans 150 years, as well as paintings by the Dutch Masters, Edvard Munch, and Picasso among others.

Natural light floods the upper floors giving the gallery a wonderful, airy ambience. Be sure to pick up a map before exploring all the collections, so you don’t miss any of the impressive works.

Once you’ve finished appreciating the art, take a break at the on-site café. It is particularly pleasant and a great place to unwind and soak up the surroundings.

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Business Forum on Food & Agriculture The Ambassador of the Denmark Embassy in Ghana, H.E Tom Nørring on May 19, 2022 opened a business forum on food and agriculture highlighting existing opportunities in Ghana’s dormant agriculture sector vis-à-vis seamless and unmatched Dansih expertise and know-how that could be leveraged to fast-track the development of the sector. We have reproduced his remarks at the forum:

Acknowledgements › MoFA and MoTI representatives › Representatives from the regulations agencies › Development partners present › Ghanaian company representatives › Danish company representatives › Distinguished Guests, Ladies and Gentlemen › All protocols observed › Distinguished Guests, Ladies and Gentlemen

Good morning! It is a great pleasure to welcome you all to this Business Forum for Food & Agriculture, bringing together Danish companies and their Ghanaian counterparts and government partners.

I am happy and proud to see so many different partners gathered today to share their knowledge on how to combat food loss and how to create a more green, safe and prosperous food and agriculture sector.

Ghana has embarked on an ambitious strategy for industrialisation of the agriculture sector to improve productivity and to better equip the Ghanaian agribusinesses to produce for domestic, regional and international trade. While food production in Ghana is increasing, this process has also highlighted the urgent need to deal with food loss and waste.

Postharvest food loss and waste is a major challenge in Ghana, and it is estimated that more than 50% of the production in selected value chains goes to waste. This is partly due to a lack of investments in cold chain, low efficiency in livestock production, and a need for more coordination and better regulation. Food loss of this magnitude is a great issue with negative climate impacts, but at every step of the way throughout the food chain, it also presents a business opportunity – an opportunity to turn a current loss into value.

Since coming to Ghana I have been amazed at the vibrant and fertile nature.

Ghana is the breadbasket of the region and it has the potential to become the breadbasket of the world. For many years, the narrative of Africa abroad has been one of hunger and need. With today’s disruptions and insecurity in Ukraine and around the globe, we need to turn things around. I believe that the world does not have to feed Africa Africa can feed the world.

Productivity improvements in the food and agriculture sector has enormous potential to increase growth and employment in Ghana. Throughout the last decade, Denmark has collaborated with the Government of Ghana and other partners in innovative partnerships like the Skills Development Fund and the BUSAC Fund.

These have contributed to agricultural development, resulting in significant job creation and productivity gains for the Ghanaian companies involved.

Danish companies in the food and agro sector have been present in Ghana for

decades offering green and innovative solutions with the guiding principle of “producing more with less”. Through a focus on innovation and learning, Danish companies are well positioned to collaborate with Ghanaian agro-producers to boost the productivity and yields for the Ghanaian businesses.

The mantra of ‘Producing more with less’ underlines how a greener production is at the core of Danish food and agriculture.

Although today’s production levels in Denmark are higher than ever before, each unit of production requires dramatically less water and energy consumption. So it is possible to boost production while saving resources – all for the benefit of the climate and the bottom line.

Not only does producing more with less lead to a greener food production it also increases the earnings at every link of the food chain from farm to fork. It can be the farmer who can increase the yield from crops or the company that can increase their production and decrease food loss by using improved cold chain technology.

This aspect is important for us because Denmark’s understanding of sustainability includes a strengthening of labour rights and conditions across sectors. Green sustainability and financial sustainability go hand in hand.

I am happy to present to you today officials from eight innovative Danish food and agri tech companies, namely: Arla Foods, Cimbria, DanBred, Danfoss, Foss Analytics, Maersk, Orana and TITAN Containers.

Some of the companies already have a strong base in Ghana, others are here to explore the market and expand their network. Common for all of them is that they are eager to meet and engage with you all, and we hope that this day of knowledge sharing and discussions will lead to fruitful collaborations and even closer ties between Danish and Ghanaian companies.

Before I close, I wish to thank our partners at the Danish Agriculture and Food Council for your support and efforts towards increasing the commercial collaboration and knowledge-exchange between Ghana and Denmark in what is, no doubt, one of the most important sectors for both our countries.

I wish you all a great day and thank you for your attention.

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Danish Constitution Day 2022 TUESDAY, JUNE 7, 2022

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BUSINESS24.COM.GH

Danish food culture at a glance Danish Food Culture Danish food culture and culinary heritage - has been cultivated and improved for many generations - and is mainly originated from the old Danish country kitchen - with roots way back to the Viking Era - leaving loads of ancient food recipes from all over the Danish Kingdom - created first and foremost - as a shield to protect the Danes against the cold weather conditions in Denmark. That’s why the Danes for centuries have eaten a lot of meat - especially loads of pork - but also beef together with plenty of potatoes and vegetables. Poultry and fish products are the Danes second choice. The cold and often wet climate in Denmark requires a lot of food with high nutritional values that contains many vitamins - minerals and proteins to mobilise a great potion of energy which is a vital source - needed for work - at school - for sports and other form of daily activities - when living in a dynamic and modern society like Denmark that demands plenty of individual energy and human recourses every day. And the Danes are one of the most Pork Eating & Exporting Countries in the World.

“Smørrebrød” is Rye Bread - Cold Cuts - Spreads - Butter and various Toppings. The secret making Danish “Smørrebrød” (Open Danish Sandwiches) is - that the rye bread with butter has to be totally covered with the basic entrées of either vegetables seafood or meat choices - and then the many types of tasty topping creations - which altogether is in great harmony with the rest of all the delicious food items on the sandwich. Here are 3 versions of popular everyday “Smørrebrød” on rye bread - Tomato with mayonnaise and chopped onions - Ham and Egg - and Potato on bacon slices with mayonnaise - all pieces garnished and flavoured with various vegetables - seasonings and dressings.

Delicious Marinated Herring

Danish “Smørrebrød” - Open Danish Sandwich

Almost every Danish restaurant in Copenhagen serve the traditional “Open Danish Sandwich” called “smørrebrød” - with many different potions of food items as cold cuts - pieces of meat or fish - various paste - salad dressings and cheese on buttered rye bread and decorated with all types of toppings that gives the creation a great visual appeal - and is surely a piece of genuine art - when presented on a well laid table with cold Danish beer and snaps. “Smørrebrød” is normally served together with the famous Danish beer and snaps.

Delicious Marinated Herring. Preservation of fish has been known and used since the Viking era for more than thousand years - and salt and vinegar was the based ingredients to preserve fish. Here is the popular and national old timer - the marinated herring - as an open Danish sandwich.

Tatar - Beef Tatar

Danish “smørrebrød” also called “Open Danish Sandwich” - here presented in the everyday version. Rye bread with flat toppings and spread: Liver paste with salted meat - gravy jelly - cucumber and onions. Shrimps with mayonnaise and parsley. Eggs with shrimps - mayonnaise and chives. Salami with gravy jelly and red onions. Chicken salad with tomato and parsley. Rolled stuffed pork with gravy jelly - red onions and chives.

“Smørrebrød” has many types of topping creations Each Open Sandwich is a genuine Masterpiece of Art

Beef Tatar on Rye Bread. (Beef Tatare) A classic example of a high topped Danish “Smørrebrød” - open sandwich - and a genuine piece of art with high-quality raw minced meat from the fillet of beef on thick rye bread and butter - lettuce - raw egg yoke - raw onions and capers - jelly gravy and horseradish - sour beetroot and cucumber. Some like the dish added with pickles. Beef Tatar is a real rustic “Open Danish “andwich and delicious treat.

Roastbeef and Salted Meat - Smørrebrød Roast Beef and Salted Meet on Rye Bread. Here are two classic pieces of “Smørrebrød” - Open Danish Sandwiches. Roast Beef with curry dressing on lettuce and cucumber - sprinkled with spring onions. And Salted Meat on Liver Paste - which is spread over a base of lettuce and cucumber - and sprinkled with spring onions - plus topped with a thick slice of jelly gravy. The Salted Meat and Liver Paste “smørrebrød” is better known by the Danes as the “Veterinarians Night Snack Sandwich”. (Dyrelægens Natmad)

Danish Constitution Day 2022 TUESDAY, JUNE 7, 2022

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BUSINESS24.COM.GH

is a Danish classic open sandwich on every luncheon table - and a must treat for the Danes on Rye Bread with butter - fresh lettuce juicy roasted pork slices with crispy pork cracklings - and garnished with pickled red cabbage and pickled cucumbers. This Roasted Pork open sandwich - “Smørrebrød med flæskesteg” is one of the oldest open sandwiches in Denmark - and is eaten everyday by the Danes in different variations especially at luncheon time all year round.

The Great Danish Christmas & Whitsun Buffet

Danish speciality and tradition served at Christmas - Whitsun and on other Danish Holydays The Grand Danish Christmas Party - Julefrokost

“Stjerneskud” - Shooting Star - The Danes Favourite “Smørrebrød”

From the end of November and up to Christmas Eve the Danes celebrate their traditional Christmas Parties with loads of food snaps and beer. The Christmas Parties ( Julefrokost) are held and celebrated all over Denmark - and is a very joyful Christmas Event that gathers friends - families and colleague. ”Stjerneskud” - Shooting Star is the Danes favourite “Smørrebrød - Open Danish Sandwich. The “Stjerneskud” is a Danish Classic on the “Smørrebrød” menu - and the most selected and eaten “Open Danish Sandwich” in Denmark. This popular “Smørrebrød” consist of a base of buttered rustic rye bread - two pieces of battered plaice fillets (rødspætte) - a piece of steamed white fish rolled. On top is piled a mound of fine fresh shrimps - which is then decorated with a dollop of remoulade black or red caviar - and nicely cut lemon slices. Then a piece of salmon rolled around green asparagus - cucumber - tomato slices and lettuce.

Finally - a boiled egg divide into half’s´- and fresh dill. These are the main ingredients to prepare a “Stjerneskud” the Danish way. As fish was a very common eating in the 1850s - the “Stjerneskud” became one of the very first popular luncheon specialities in the restaurants around 1880 - and the delicious toppings were stacked on top of each other as the “Stjerneskud” recipes was created up trough the 20th century - and is today the Danes favourite piece of “Smørrebrød”.fish. Here is

the popular and national old timer - the marinated herring - as an open Danish sandwich.

Roasted Pork Open Sandwich - “Smørrebrød med flæskesteg”

The Great Danish Christmas Buffet

The Great Danish Christmas Buffet with all sorts of meat specialities and cold cuts that makes the Danes diet the rest of the year. The Holydays Buffetis is also a very popular family gettogether eating event. The Holydays Buffet is served all over Denmark with plenty of food and alcoholic drinks.

Traditional everyday Danish food - and the Danes favourite Dishes Slow Food enjoyed on tablecloth with Dinnerware and Cutlery

Delicious Roasted Pork open sandwich - “Flæskesteg Smørrebrød”

The Traditional everyday Danish food Dishes - some with delicious Heavy Brown Gravy As Denmark is the largest exporter of pork in the world - the traditional everyday dishes include plenty of delicious pork recipes with potatoes - vegetables and heavy brown sauce - often with sour or sweet supplements. The Danes are great lovers of pork and have been it for generations. Beef is the second choice - while poultry and fish are the last preferences - when selecting daily treats as well as heavy soups - especially at winter time - which is a substantial part of the Danish cuisine - together with desserts and pastry. The Danes have a very sweet tooth too.

Danish Constitution Day 2022 TUESDAY, JUNE 7, 2022

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Here are some of the Danes favourite Dishes & Danish Cookery Heritage

BUSINESS24.COM.GH BOLLER I KARRY

Each Favourite & Delicious Danish Dish is a genuine Masterpiece of Art! MEDISTERPØLSE

“Medisterpølse” - Spicy Pork Sausage with new potatoes - vegetables and thick brown gravy.

“Boller i karry” - Pork meatballs boiled in pork and curry stock.

Then prepared and served with mild Curry sauce and rice.

GRØNTSAGSSUPPE MED BACON

SMØRSTEGT TORSK

“Smørstegt Torsk” - Crispy Butter Fried Cod with new Potatoes -Butter Sauce - Vegetables and fresh chopped Parsley.

HAKKEBØF MED BLØDE LØG

“Hakkebøf ” - Minced Beef Patty’s in heavy brown sauce with mashed potatoes - fried onions - spiced cucumber and beetroots.

”Grøntsagssuppe med bacon” - Rural Vegetable and Bacon Soup - with small dumplings and meatballs - garnished with a poached Egg BRÆNDENDE KÆRLIGHED

”Brændende Kærlighed” - Burning Love - Danish dish from the 19 century - with diced bacon rashes - mashed potatoes and fried onions.

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| FEATURE

WEDNESDAY, JUNE 8, 2022

What to ask when making tough choice

By Mohammed Issa Many, many years ago when I was in college, I was stuck in a toxic relationship. It was clear to my friends that I should walk away, but I didn’t. The relationship ended after she unceremoniously dumped me. I did not have the strength to leave, and I suffered accordingly.

Last summer, I wanted to create a Podcast. I built a room for it, bought all the necessary equipment and was ready to start.

Then I had some problems at work, which meant I had to spend more time there.

If I went ahead with the podcast, I had to sacrifice writing and the upcoming book I had planned to write. So, I thought about it and instinctively decided to pause the podcast project. I don’t know whether it was the right decision, but then, it felt right.

A month ago, I had wanted to start running outdoors again when I got a call from a friend who wanted to form a cycling group and had pencilled me in as a critical member.

I didn’t know what to say. I wanted to do both but knew that time wouldn’t allow it. If I chose one, I felt I was missing out on the other. The longer I sat on the decision, the more anxious I felt.

Decision Whether it’s a life-changing decision like leaving a toxic relationship or a smaller one like choosing what outdoor activity to

do depends on the quality of the questions we ask ourselves before deciding.

We often default to what is most comfortable to not upset others or the ecosystem around us. But, if I can summarise all the learnings from self-help, we tend to grow most when we start making difficult choices. The road less travelled is the way to personal development.

Another question we ask is whether the choice makes us happier? This is so subjective to render the question meaningless.

We project our feelings toward everything, and it becomes hard to know what makes us truly happy.

In defining happiness, we look at alternatives in our lives, not because we want the happiest option, but only because we’re bored with what we are doing.

We are bored, not due to a lack of choices but rather because we are not content with ourselves.

We feel that we are missing out on something. So we compare what we are doing with what others are doing and presume it would give us more joy to do the things they are doing.

A few weeks ago, I came across the most insightful question to ask via a podcast when I heard Oliver Burkeman, author of Four Thousand Weeks, recount Jungian therapist James Hollis’s simple words: “Will this choice enlarge me or

diminish me?”

Instead of chasing comfort or asking what makes us happier, we should allow our intuition to elicit a far deeper response.

That’s precisely what I did with dropping the podcast, but I didn’t consciously know it. However, I treat writing as sacred, so it’s always easier to make decisions concerning it.

The reality is that we know what the right choice is deep down. When we remove all the noise surrounding us, we can see what actions enlarge us. We can envision an image of our larger self, smiling, satisfied in doing what we love.

In deciding whether to run or cycle, I recalled how I’d felt while running in the rain one day.

It was late July, and rain was imminent. Perfect conditions for running. I put on my shoes and ran toward the dark clouds filling the sky.

The slight breeze suddenly picked up and became a strong wind. The trees started to shake violently, and the leaves began to scatter across the ground. I kept running; I didn’t stop. Rain pelted down from the now completely black sky.

I was the only one on the road— no cars, no vendors, not even stray dogs. I felt a chill run down my spine, and tears rolled down my cheeks. But I wasn’t tired, and I didn’t feel any of my usual running pains.

I was on some kind of high, and for a few minutes, everything was so clear that I was at one with this universe. The swaying trees were dancing to the music from the sky, and I was the composer.

If running didn’t enlarge me, then nothing else did.

I knew that I wanted to run, and if my knees withstood the test, running not only enlarged me but nourished my soul. I can’t seem to find the solitude and freedom I feel when I’m out running.

Though it was a hard choice, I called my friend and apologised, telling him that I’d committed to running and perhaps I could join his cycling group in six months.

No doubt he was disappointed, but he understood.

I wish I could return to my younger self and ask whether the toxic relationship I was stuck in was enlarging me or diminishing me. It was evident to everyone but me that my soul was being crushed, yet I stayed for far too long.

Today, whenever I’ve got a hard decision to make, the first thing that comes to mind is whether the choice enlarges or diminishes me. Then I quickly think of how I felt when running in the rain, and if I don’t get that awe-inspiring sensation, then it’s a no.

The writer is a motivational speaker/CEO, KIMO Home. E-mail: hillary@kimogroup.com

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| FEATURE

WEDNESDAY, JUNE 8, 2022

Health consequences of contaminated food, water: World Food Safety Day

By A. Andoh-Odoom and E. Tawiah & C. Tortoe 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 microbialrelated 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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| AFRICAN BUSINESS

WEDNESDAY, JUNE 8, 2022

A Look at Ghana’s Partnership with Switzerland for Climate Action

By Alice Senam Afumaa Nimoh-Appea On 12th December 2015 at the 2015 United Nations Climate Change Conference held in Paris, France, a total of 196 parties converged to negotiate an agreement to cover climate change mitigation, adaptation, and finance which entered into force on 4th November 2016.

The Paris Agreement as it has become known and often referred to as the Paris Accords or Accord de Paris in French, is an international treaty on climate change with the goal to limit global warming to preferably 1.5 degrees Celsius.

The Paris Agreement is considered a landmark agreement in the multilateral climate change process because, for the first time, a binding agreement brings all nations into a common cause to undertake ambitious efforts to combat climate change and adapt to its effects.

In addition, the Paris Agreement sets out a global framework to avoid dangerous climate change and also aims to strengthen countries’ ability to deal with the impact of climate change and support them in their efforts.

Implementation of the Paris Agreement requires economic and social transformation, based on the best available science.

The Paris Agreement works on a five year cycle of increasingly ambitious climate action carried out by countries.

Countries were to submit their plans for climate action known as nationally determined contributions (NDCs) by the year 2020. In their NDCs, countries are to communicate actions they will take to reduce their Greenhouse Gas emissions in order to reach the goals of the Paris Agreement as well as steps to build resilience to adapt to the impact of rising temperatures.

On 23rd November 2020, the Government of Ghana and Switzerland signed a historic agreement for Climate Action which brought the cooperative

approaches of the Paris Agreement to life. The bilateral implementation agreement set the framework conditions for the cooperation.

Under the agreement, the first projects in the pipeline are to enable clean cooking and solar lighting to benefit up to five million Ghanaian households.

Also, the partnership is to enable the adoption of green and low carbon technology solutions across the country resulting in a plethora of social and environmental benefits.

In line with the promotion of the cooperation, a team from the Swiss KliK Foundation (Foundation for Climate Protection and Carbon Offset) recently visited Ghana to deepen the relationship between the two countries and develop a portfolio of mitigation activities in Ghana under the bilateral agreement.

In addition, the Swiss KliK Foundation team whilst in Ghana explored avenues to support and finance activities in Ghana that will contribute to national and local climate protection initiatives leading to sustainable development.

Established by Avenergy Suisse (then Swiss Petroleum Association) in 2012 within the framework of the Swiss CO₂ Law, the KliK Foundation is the sectorwide carbon offset grouping. To this end, it funds programmes for the reduction of greenhouse gas emissions in Switzerland and abroad under Article 6 of the Paris Agreement, thereby actively contributing to sustainable climate protection.

The KliK Foundation team met with several strategic partners and key stakeholders including the Environmental Protection Agency (EPA) and Ministry of Environment and Science, Technology and Innovation (MESTI) for a presentation on the progress of the joint commitment and discussion on the processes and dynamics for investing

financially into the development of climate protection programmes in Ghana.

At a cocktail reception in honour of the KliK Foundation team, the Ambassador of Switzerland to Ghana, His Excellency Philipp Stalder, highlighted in his welcome statement the excellent bilateral relations between Ghana and Switzerland over the years.

He further mentioned the political will of both governments at the highest levels contributing to the existing framework agreement. According to him, there is focus on programmes in areas such as solar photovoltaics, biogas, waste management or

electromobility. He encouraged interested organisations and individuals to submit programme ideas in the mentioned areas for consideration.

The objective of Ghana’s NDC is to reduce emissions by 15 to 45 percent below business-as-usual (BAU) and strengthen climate resilience in close alignment with its development priorities.

Ghana’s National Clean Energy Access Programme (NCEP) is the core approach to achieving these targets but is conditional upon international support and requires blended financing for implementation.

WEDNESDAY, JUNE 8, 2022

| NEWS

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| NEWS

WEDNESDAY, JUNE 8, 2022

EdenTree@25: Blazing the trail in Ghana’s processed herbs, fruits and veggies industry

By Patrick Paintsil From a humble start under a tree, EdenTree has grown to become a leading supplier of processed and packaged fruits, herbs and vegetables in Ghana and boasts over 70 direct employees since it was established some twenty-five years ago.

It’s now a household name in its niche industry having set the stage for other aspiring entrepreneurs to see the business side of agriculture, specifically in the growing, processing and packaging of vegetables, herbs and fruits.

According to its founder and Managing Director, Ms. Catherine Krobo Edusei, the story of EdenTree is one that’s been marked with determination, sacrifice and strength to push through the difficult times.

“In every business you’ll have the ups and downs which we’ve gone through. It’s been difficult and tough as our margins have not been that fantastic without excess capital. What has worked for us is that the profits are ploughed back into the business,” she told Business24 in an interview.

She added: “One challenge at

the time was about renewing the mindset of the staff in getting them to commit and give of their best and act professionally at all times. Our family grew, trainings continued and we now have workers who understand the ideals and ethical requirements from the company.”

A part of the company’s success story is attributable to its formidable partnership with its support systems and supplier base including trusted outgrowers and smallholder farmers through off-taker arrangements.

“We have an arrangement with our trusted out-growers where we assist them in setting up their farms whilst they bore the operational costs. This strategy has really worked for us compared to having our own farms because the farmer groups are also stakeholders of the farm project.

To keep its firm grip on the vegetables and herbs processing business and also to stay ahead of the competition, EdenTree continues to invest heavily in its brand as a trailblazer in the safe foods and its operations are well

regulated by the Food and Drugs Authority (FDA).

“We are fully regulated by the FDA which does annual auditing of our processes for food production.”

The company has an ambitious five-year plan that will see it expand its operations with the establishment of a greenhouse farm that will serve the interest of the company as well as offer practical learning experience for students of agricultural colleges in the country.

“What we are looking at in the next five years is to source funding to establish a greenhouse technology farm village where we can be able to produce to meet our production demand. This ‘greenhouse village’ will work closely with various agricultural colleges where students could come and learn about the technology as part of their training.

“This is how we plan to get more people into greenhouse farming that will feed into what we do, and for those items that we will produce in large volumes, we will be looking at the export market”.

For the single continental market, the company says it’s weighing its options considering the hurdles of cross-border trading and especially as a producer of perishables.

“In terms of exploring the AfCFTA market, we are looking at the possibility of moving goods to other part of the region comfortably without the usual delays and other notable challenges. We are dealing with perishables, so we can’t afford to be stuck at the borders for days.”

“Until we can go through seamlessly where each country understands and adheres to the protocols that facilitate trade then we will be able to do that. We’ll be using temperature-controlled vehicles which do not have to be delayed at one point,” she added.

According to Ms. Krobo Edusei, the company is ready to increase production capacity to penetrate the AfCFTA market with the right conditions in place as part of its forward-looking strategy for the short-to-medium term.

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| NEWS

WEDNESDAY, JUNE 8, 2022

Meet Revenue – Game-Changer Sales with the Pareto Rule (Part 1) Do you need to harvest the valuable market? Do you need to harness the full potential of the market?

Do you have holes in your revenue bag and are not able to maximize the full revenue potential of your sales team/. It is time to turn your sales team into a revenue force.

It is time to deploy the gamechanger catalyst into your sales process. Koch (1998) espouses that the 80/20 Principle can and should be used by every intelligent person in their daily life, by every organization, and by every social grouping and form of society.

Koch (1998) also affirms that the 80/20 Principle asserts that a minority of causes, inputs or efforts usually lead to a majority of the results, outputs or rewards.

Taken literally, this means that, for example, 80 per cent of what you achieve in your job comes from 20 per cent of the time spent.

Thus, for all practical purposes, fourfifths of the effort—a dominant part of it—is largely irrelevant.

This is contrary to what people normally expect. So, the 80/20 Principle states that there is an inbuilt imbalance between causes and results, inputs and outputs, and effort and reward.

A good benchmark for this imbalance is provided by the 80/20 relationship: a typical pattern will show that 80 per cent of outputs result from 20 per cent of inputs; that 80 per cent of consequences flow from 20 per cent of causes; or that 80 per cent of results come from 20 per cent of effort.

The Revenue cannot wait!

With the growing sophistication of today’s customers having a plethora of offerings and options through listless and endless knockoffs on the business landscape; with competition becoming stiff and the tightening of economies with many businesses entering the state of dire straits, it is abundantly clear, that the revenue cannot wait.

Many firms both small and large entities must re-strategize and re-tool their business models by the minute and the moment due to the constant alterations and modifications transforming the way and approaches of serving today’s customers and not ignoring the all-important element and place of Sales.

As a matter of urgency, every second we waste in approaching the customer, every moment we delay in seizing the opportunity to serve the customer with brand identity and unique value

proposition, we lose revenue.

The tradition of 8 am-5 pm sales belongs to the Pleistocene era.

We live in a new era where customer evolution is swift and we are presented with a variety of opportunities and channels to serve the customer awake or asleep. The revenue indeed cannot wait! To make a change is to address the issue about the readiness of our Salesforce, Sales techniques and our Sales tools.

No more sales as usual “Difficult customers and a hard-selling terrain, she muttered to herself.

“I tried all my techniques but that man wouldn’t budge”, he soliloquized.

The truth about sales is that there are no difficult customers.

Quite to the contrary, we have observed that many in Sales have weak techniques, haphazard attitudes and wrong customers.

On the flip side, not ready to pay customers, value deteriorating customers and reputation marring Exposure WORDSMITH >Business White Papers. >Articles. >Columns.

Get it right the first time. customers who throw the spanner into your sales process are bad customers and we have to keep an eye on such. Secondly doing “Sales- as-usual”, will not cut it any longer. Selling the usual features, advantages and benefits don’t stick any longer. This is a new age and having wheat accounts is more valuable than having chaff accounts. Substance and value derivation is the name of the game. We need to keep an eye on the quality of the leads in our pipeline to determine the value of the output churned out by these accounts.

“Business as usual” by Sales professionals with a large database and leads out of which 95% will all lead to a dead-end, with excuses, postponement, deferments and total cancellations should be cause for worry for businesses today. With revenue recovery as a critical driving stimulus, there should be a switch towards the adoption of the game-changing catalyst, the 80/20 principle. Not everyone is your customer The Pareto principle affirms and highlights the reality of the needed switch. If 20% of your existing clientele and sales efforts generate 80% of your sales (revenue), then the handwriting is on the wall that not everyone is your customer. More often than not, myriads have come to believe that in our bid to want to survive or stay alive in business, we need every customer.

This is the condoned falsity and painful reality that has collapsed most businesses both large and small. The notion of the concept of a “target market” and “niche market” within the matrix of the available market points us in the direction of where to focus our energies in Sales.

“Not everyone is your customer!”

As a serious consulting firm, we have often heralded this mantra in our sales performance training sessions to many sales teams. It is the case that we need customers and we need their business but not all accounts and customers will ensure growth and profits. As much as we need customers, we don’t need all customers.

We don’t need non-paying customers, non-conformists to our policies, value-destroying clients and relationship breakers as customers. It is obvious without customers we don’t have a business and it is very obvious with the above attitudes of customers, we will not succeed with our vision and business objectives.

More importantly, we need

our customers and yes we need customers who understand our business, who are emotionally and financially ready and prepared to align and fit our vision, readiness to support our set strategy and are economically viable and beneficial in the potential to stand with the objectives we have set out to accomplish.

To make a difference in sales, we need game changers as customers. Customers who add value and impact our business processes through collaborative support within the value chain.

Contributors: Rev. John Thompson has spent his career over the years building high-performance culture in organizations he has consulted for. He has worked in Branding, Sales, Marketing, Strategy, Business Planning and strategic execution capacities at ‘Exposure’.

As a certified Train the Trainer and Sales performance coach, he has added value to many teams and corporate professionals. His consulting clients include Local and Multinational companies

18

| MARKET REVIEW

WEDNESDAY, JUNE 8, 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.

WEDNESDAY, JUNE 8, 2022

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| MARKET REVIEW

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

WEDNESDAY, JUNE 8, 2022

Samsung defines home life possibilities with new bespoke lineup Over the past 2 years, as the central axis of life has shifted towards the home, the concept of spending time at home has changed significantly.

Accordingly, home appliances have also evolved from being just mere products to being true companions in our everyday lifestyle and routines. When their design is based on consumers’ own needs, the experience is enhanced even more. This is why we are scaling up the Bespoke offering to invite more consumers to be a part of the Bespoke Home experience.

With the introduction of the Bespoke concept in 2019, Samsung’s Digital Appliances business ushered in a whole new era of customised home appliances that go beyond the conventional paradigms that previously prevailed in the industry. Instead of merely focusing on technology and functionality, the Bespoke philosophy also incorporates customers’ various needs, tastes and lifestyles into the product – pushing the industry to evolve to the next level.

Behind the vision of Bespoke Home 2022 At Bespoke Home 2021, we unveiled a Bespoke vision and lineup that let users enjoy the Bespoke home experience throughout their entire house. Since then, Bespoke appliances have become available in 50 markets around the world and nearly 2 million Bespoke refrigerators have been sold worldwide since their launch.

The developments in 2021 has led to the evolution of our Bespoke Home vision for 2022, which can be summarised in three key elements: Expansion of Space, Expansion of Experience and Expansion of Time. These three transformative ideas are at the core of the 2022 Bespoke Home experience, one that is set to help you enjoy your home life in ways that go beyond conventional home appliance experiences.

Creating customised spaces through a diverse line-up The Bespoke design ethos prioritises helping users create personalised homes that truly reflect their tastes and aesthetics, to the end of providing evolved home life experiences. In addition to offering users all-new products and upgraded functions, the Bespoke Home 2022 line-up also offers a vast array of colour and design options, so users can have new and different ways to express their evolving tastes, as well as have more options for home decoration. Furthermore,

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we are introducing a new tier of kitchen appliances to the Bespoke family, the Infinite Line, for premium appliance experiences that provide timeless value and are able to match the way you personally operate within your kitchen.

Connectivity at the core of every innovation The type of experiences that consumers expect from their home appliances has changed over time. The second aspect of our Bespoke Home 2022 vision, the Expansion of Experience, refers not only to the expansion of capabilities coming to Bespoke 2022 products, but also to the type of convenient, smart and connected home experiences users can enjoy thanks to the introduction of SmartThings Home Life.

SmartThings Home Life offers centralised control over Bespoke appliances through six SmartThings services key to daily household management: Cooking, Energy, Clothing Care,

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

Pet Care, Air Care and Home Care.

Sustainable product experiences and eco-conscious activities Lastly, the Expansion of Time is a part of our vision that relates to “everyday sustainability” that Samsung introduced at CES 2022. We are making efforts to put sustainability at the heart of everything we do and building sustainability and eco-conscious innovation into every aspect of the product lifecycle - from production and delivery to product use and disposal - so our consumers can live more sustainable everyday lives through their experiences with Bespoke products.

Innovations at the product development stage help us reduce waste and achieve a continuous increase of our waste recycling rates.

Going beyond 2022, Samsung will continue to make efforts to achieve its sustainability vision and goals. As a leading global appliance brand, Samsung will continue to develop its products, services and innovations to provide users with customisable designs and functionalities, expansion of possibilities within users’ lives and, above all, sustainable product experiences from start to finish.

Samsung Ghana will be unveiling the Bespoke Refrigerator, the first of its kind, to offer consumers new experiences through customisation in the kitchen.