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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.
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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.
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.
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
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
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.
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.
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.
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
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.
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.
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.
INTERNTIONAL COMMODITIES PRICES BUSINESS TERM OF THE WEEK
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.
WWW.BUSINESS24.COM.GH | 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, 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, 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.
