Business24 Newspaper 30 May 2022 by Business24 Online

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John Apea appointed CEO of eTranzact Ghana //MORE ON PAGE 3

Banter in Parliament: Majority plans ‘diplomatic’ meeting with Speaker By Eugene Davis

Ghana must not look outside when it comes to dredging —President Akufo-Addo //MORE ON PAGE 4

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The Majority Chief Whip, Frank Annoh-Dompreh, has said that they intend to engage the Speaker to prevent “presumptuous statement” and enhance effective communication channels between parliament and the Finance Ministry. His comments came on the backdrop of the Speaker of Parliament stating that the legislature was broke and unable to function accordingly. Addressing the media on Friday morning, Mr. AnnohDompreh said “Going forward we don’t want to have any banter with the Speaker but where we think that things need to be straightened, we find a

diplomatic way of reaching out to ensure we have peace and coexist in a peaceful manner for the progress and execution of the work of parliament.” To avoid some of these presumptuous statements, we will liaise closely with the ministry of finance and clerk, if this communication had gone to the Speaker earlier, I am sure he would not have made these comments that took the whole nation by storm, where in actual sense it is not a true state of affairs.” He also confimed that an outstanding GH₵25m allocation for goods and services for Parliament had been released.

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Value creation must be the ultimate object of digitization in banking By Leopold L. L. Armah Head, Digital Transformation Prudential Bank It is evident globally, that technology has in many ways altered how people interact with their environments. Largely, the way we shop and make payments have been influenced by digitization. Undoubtedly, financial intermediaries like banks have seen the most transformation in the wake of technological advancement and digitization. This radical and dynamic change being experienced generally is believed to have been solely driven by the convergence of digital innovation and rising consumer expectations. Clearly, digitization has led to the development of new concepts, new business models and in some cases redefinition of sectorial boundaries, like in banking. A rejuvenated sector where consumers have the audacity to demand more convenience based on their volatile preferences. The utmost service demands have transitioned from //MORE ON PAGE 3

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News/Editorial

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.

Banter in Parliament: Majority plans ‘diplomatic’ meeting with Speaker continued from page 1

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Frank Annor-Dompreh disclosed that the Majority Leader, Mr. Osei Kyei Mensah Bonsu, had already communicated with the Clerk of Parliament and the Chief Account Officer for funds to be released to the House. According to the NsawamAdoagyiri MP, a little restraint from the Speaker would have been better. “I am talking about a GHc25m outstanding goods and services to parliament, so yesterday when Speaker was lamenting indeed, officially the release had been effected, it was just going through the process, the communication often comes from finance ministry, it goes to Controller, which does the releases, goes to BoG before it hits the accounts of parliament, that is the normal process, so the process had kickstart so it was just a matter of few hours for it to hit parliament’s account. So, I am quite surprised if the clerk failed to update Speaker accordingly, because the Speaker’s statement was a bit presumptuous and with the greatest of respect if he had exercised a bit of restrain, he may not have made that comment that parliament is broke. It creates an image of our country and it is not too good especially in the face of the fact that releases had been done and was just going through the process, so

the 25m goods and services which was outstanding in relation to parliament has been released and I can confirm that, so yesterday when I got the confirmation I followed up and informed the Speaker accordingly, not just the GHc25m there is also a release of GHc50m to the NHIA because there was also some outstanding and that has been confirmed by the Controller and NHIA has accordingly also confirmed that amount.” He also bemoaned the direction given by Speaker of Parliament, Alban Bagbin, for Finance Minister, Ken Ofori-Atta, to give an account of Ghana’s COVID-19 expenditure before a loan request can be approved. According to him, the action of the Speaker was unfortunate since he did not have the power to give such directions of his own volition. “... the Speaker has no persona of his own. Such a decision has to be the sense of the house. He [Bagbin] cannot communicate his own decision, especially when he is not a Member of Parliament.

The sense of the house at that moment is that the question should not be put, but it wasn’t that the finance minister must first come to the house to render an account,” he said. Speaker Alban Bagbin on Thursday said Parliament was broke, and thus lacks adequate funds to run its operations. He attributed this to the delay in the disbursement of funds by the Finance Ministry. Addressing the House on Thursday, May 26, Mr. Bagbin cautioned the Finance Minister, Ken Ofori-Atta, against treating Parliament like a Ministry or a District Assembly. “It’s not easy. So, sometimes we see your requests for me to approve for you to do some things I had declined. It’s not because I love declining your requests; it’s because we don’t have the wherewithal to fund those operations. “I think the Minister of Finance should not treat Parliament like a Ministry or MMDA – I will emphasise this again,” he said.

| BANKING AND FINANCE

MONDAY, MAY 30, 2022

Value creation must be the ultimate object of digitization in banking

continued from page 1

By Leopold L. L. Armah | Head, Digital Transformation, Prudential Bank internet banking, cards and now open banking, tokenization, digital currencies, contactless and even to concepts such as internet-ofthings (IoT), artificial intelligence, wearables, instincts. Over a decade ago, when I entered the Banking sector, smartphones were still evolving, and the means of interaction was predominantly brick-and-mortar. Concurrently, the automated teller machines (ATMs) served as the most common electronic medium of interaction between banks and their customers. Technology, back then, was largely a back-office tool with relatively little front-end presence. However, a new range of technologies today are underpinning the digital drive, and have become a topmost priority for all financial institutions, simply because, the relationship between them and their customers has become far less physical and more automated. Greater automation is transforming customer experience, offering new levels of speed and slickness. Invariably, the sector will continue to undergo transformation as long as technology continues to evolve. The evolution we have witnessed so far, has significantly facilitated the development of a business model themed “banking-as-a-service”, a vehicle for driving more value-added digital solutions centered around the lifestyle of the modern consumer. Undeniably, the last decade has also witnessed the emergence of business vehicles, such as Mobile Money Issuers (MMIs) and the financial technologies providers (Fintechs)

that have disrupted the traditional financial service ecosystem. Undoubtedly, their presence has among others fueled the drive for financial inclusion globally, with Ghana not being left out. This has also led to the redefinition of who a bank’s competitor is. The upgraded banking model, sometimes referred to as Banking 2.0 is inevitably the way to go as we journey into the future. This drive that we have been on for some time now is envisaged to be riding on seamless digital infrastructure as the means of delivering excellent services to customers. Clearly, the emergence of digital banking has created a ripe environment for meeting the expectations of the customer. More than ever, the average customer is continuously equipped with the right knowledge and tools to facilitate access to services without any human intervention. Truly, the customer is dictating the pace and the banks are expected to appreciate the immediacy of the needs, and importantly respond appropriately – often before they even realize they need them. It is believed that the introduction of artificial intelligence tools would lead to effective decision making on how to better meet the growing needs of customers, whilst aiding the process of personalizing solutions according to the demands. Additionally, the latest digital dimension is the regularization and regulation of the use of cryptocurrencies which seems to be gaining ground across the globe. The beauty of this emerging solution within the ecosystem is that, it is

not driven by a single entity, but by the convergence of various services in the interest of the customer. This convergence of services is perceived by some experts as being at the maturing point of the digital ecosystem. This is considered as the lead to several initiatives at the bank level, industry, regulatory, national and even region levels geared toward the development of a true digital ecosystem. In a rapidly changing world, however, one thing that remains constant throughout the changing scenes of technology is continuous delivery of utmost services to customers. In any case, the purpose and ultimate object of every technological and digitization pursuit in banking must aim to create value for customers and clients. Admittedly, the biggest challenge of every entity is translating digital into meaningful value for customers. This should therefore be on top-of-the-minds of all digital transformers, and of course financial intermediaries. That is what we must seek to achieve, because that is how we will know we have succeeded. Certainly, it is truly the expectation of a modern stakeholder like the customer. In view of that, we must continuously strive towards understanding the needs of customers and businesses better – a 360-degree view of the present and every changing lifestyle. Furthermore, we must seek to extend varied and more interactive services to the customer. In addition, a deeper segmentation of the portfolio and not relegating to a single point of service delivery are key parts of value

creation. These would essentially lead to the deployment of personalized offerings. Sustained value creation is therefore undeniably the catalyst for retaining and attracting customers, and notably an avenue for rewarding all stakeholders. Evidently, this is what is rooted in the transformation agenda of the Prudential Bank. At Prudential Bank, we continue to work towards remaining trustworthy and credible to our loyal customers. The bank continuously works towards striking the balance by ensuring that both our technology and human capital are optimized at all times. Our investments over the years have focused on both technology and our human capital. While investing in technology, we also invest in human beings to build their capacity to be able to manage the technological tools. The Bank is at a threshold with a service assurance promise of delivering an end-to-end e-relationship with our customers. We have adopted a digital-first mindset to attract and retain new customers, and also to leverage on our digital assets to increase the banks deposit and loan portfolios. With over 25 years of banking experience behind us, our understanding of the needs of Ghanaians has earned us their trust and confidence. For us also, digitization is about leveraging technology and innovative tools to improve the efficiency and efficacy of a given process. Marrying these two makes Prudential Bank the bank of choice now and in the future for every Ghanaian.

John Apea appointed CEO of eTranzact Ghana Africa’s leading provider of electronic banking and payments services, eTranzact, has appointed Mr John Apea to head the company as its new Chief Executive Officer in Ghana. The appointment which became effective on October 18, 2021, would see Mr Apea leading eTranzact’s leadership team in Ghana whilst implementing key strategies to ensure growth and increase profitability for the company. Mr Apea’s appointment as CEO of eTranzact Ghana, exudes expectations of harnessing his business expertise and acumen in communicating on behalf of the company, with shareholders, government entities and the public. He is also responsible for leading the development of the company’s short and long term strategy, creating and implementing the organisation’s vision and mission, evaluating the work of other executive leaders within the company including executive directors and senior managers. Furthermore, Mr John Apea

will also embark on expansion opportunities for the company, monitor and minimize risks as well as setting strategic goals. Responding to the appointment, Mr Apea said, “this is a great honour to be part of a forward-looking company with operations in Nigeria, Ghana, Kenya, Zimbabwe, Cote d’Ivoire, and the UK”. “It is refreshing that though eTransact has become Ghana’s leading provider of mobile banking and payment services – we are not resting on our oars. My objective is to make the company a household name in Ghana and place it at the forefront of developing innovative digital solutions for individuals and businesses in Ghana” he said Brief Profile of Mr John Apea Mr. John Apea is a well- respected professional with extensive experience across business, finance, politics, communications, technology and diplomacy. He currently is the the Head of Mission ( Ghana, Gambia, Sierra - Leone and Cameroon) for the Commonwealth Enterprise and

Investment Council, a body created by 54 Commonwealth Heads of Government to promote Trade and Investment in the Commonwealth. Previously, Mr. Apea worked as

the Senior Strategist to Data and Technology giants SCL Group and Cambridge Analytica and was Africa Regional Director for the Royal Commonwealth office. In this position, Mr. Apea had oversight across 19 African countries, and together with British High Commissions, planned all royal and Commonwealth related events and promoted business opportunities within the African region. Mr. Apea sits on many boards, and is presently Chair for Interstandard Group, a trusted interlocutor for many world leaders, and the first port of call for several foreign governments, global businesses and CEOs on business and political matters pertaining to Africa. He is a product of the Presbyterian Boys Secondary School in Accra, Ghana, and holds graduate and postgraduate qualifications from the University of Oxford, the University of Cambridge and the University of York, in the United Kingdom. Mr. Apea is a Fellow of the Royal Society of Arts( U.K.) and a Member of the Institute of Directors ( U.K.).

| NEWS

MONDAY, MAY 30, 2022

Ghana must not look outside when it comes to dredging —President Akufo-Addo With the introduction of two new ultra-modern IHC Beaver 50 dredgers and marine equipment by Dredge Masters Limited, a subsidiary of the Jospong Group of Companies ( JGC), President Nana Addo Dankwa Akufo-Addo has underscored that Ghana will not need to look outside when it comes to dredging works. These dredging activities in the country, he said, included dredging of dams, reservoirs, ports, harbours, land reclamation among others. President Akufo-Addo made the observation while commissioning two new IHC Beaver 50 dredgers and marine equipment acquired to augment the fleet of DML at its parking yard at Adjei Kojo in Ashaiman, Accra on Wednesday, May 25, 2022. According to him, Dredge Masters has made huge and significant contributions in the dredging space of this country, adding that the company’s introduction these ultra-modern dredgers “means that Ghana, within the West African market, has her own indigenous company which can dredge to a depth of 16 metres. He was full of praise for Dredge Masters for its continuous role in supporting the government to address the perennial flooding in parts of Accra. Dredging companies, he said, have traditionally contributed to coastal protection, stating that from 2017, government has invested GHC450 million in various flood-control measures, all in an effort to end flooding in the capital city. On the issue of climate change, the President admitted that it was already in Africa, noting that this was being witnessed in the unprecedented floods in West Africa, depletion of large forests, vastly altered rain patterns that are threatening agriculture production and food security among others. ”All these are undermining Africa’s ability to grow and develop to bring prosperity to its people,” he said. That notwithstanding, he reinforced his government’s commitment to continue to create an enabling environment not only for the private sector to survive but also to thrive. He seized the opportunity to charge all Metropolitan, Municipal and District Chief Executives (MMDCEs) to ensure regular desilting of drains and gutters within their jurisdictions to allow for water to flow freely, especially when the country had entered the

raining season. To this end, he urged MMDCEs to lead in the demolition of all unauthorised structures built on and along waterways. ”Any MMDCE who fails to carry out this exercise across the country would be held accountable,” he sternly warned. The Minister for Works and Housing, Francis Asenso-Boakye, in a brief remark, applauded DML’s contributions towards fighting flooding in Accra. While admitting that flooding in Accra had become an annual ritual which continues to pose grave risks to lives and properties, he advised Ghanaians to desist from practices that further compound the phenomenon. ”We remain committed to partnering with DML to address the flooding problem in Accra and other parts of the country,” he assured. For his part, the Minister of Transport, Kwaku Ofori Asiama, announced that his ministry will seek a very strong collaboration

with DML to develop the Volta Lake to inure to the benefit of the people of the region and the country as a whole. In his welcome address, the Executive Chairman of the JGC, Dr. Joseph Siaw Agyepong, indicated that the IHC Beaver 50 is an ultra-modern dredging equipment, which is a top of the range equipment for dredging in the world. He said these two beavers come to augment the already existing fleet of DML. ”Dredge Masters Limited is introducing these UltraModern IHC Built Cutter Suction Dredgers 5014/16 (Named Akua Boahenmaa and Abena Ayinfua) and associated Marine equipment which bring the capability of dredging up to 16 meters deep and the capacity to carry out large scale reclamation.” ...The total investment by the company in all marine equipment stands at 54 million Euros,” he revealed. The dredgers, he explained,

can undertake mega projects at ports and harbours, reservoirs and dams, reclamation of lands from sea, environmental and climate change mitigation works and flood control. According to Dr. Siaw Agyepong, Dredge Masters Limited started with the acquisition of four ultramodern amphibious dredgers from Aquamec. ”These dredgers along with long boom excavators, barges and earth moving equipment dredged from Odaw Channel to the Korle lagoon (from Caprice to the sea) to restore hydrological capacity of the channel. The fleet has been augmented with two more amphibious dredgers, long booms and other equipment over the years. Today, we have over 70 units of various dredging equipment,” he further disclosed. He assured of his dredging company’s commitment to quality, sustainability, environmental protection and upholding high standards.

| NEWS

MONDAY, MAY 30, 2022

GPHA’s investments in technology yielding the right results—Security Manager The Ghana Ports and Harbours Authority has indicated that a lot of its successes in the provision of security at Ghana’s ports are desired outcomes of its investments in technology. Speaking on Eye on Port, the Deputy Security Manager, in charge of operations at the Port of Tema, Samuel Adjetey revealed that the Authority has invested in world class surveillance and access control systems. He stated that GPHA has in recent years embarked on a digitization agenda and the security department has been a core focus. Mr. Adjetey said “our CCTV cameras have been upgraded and we can boast of one of the best control rooms in the West African corridor. We have about 210 cameras covering the port and we still have about 90 on standby which are assessing areas to deploy them. We deploy about 20 cameras at our new jetty alone. Our administrative areas also are fully monitored and we deploy cameras that have facial identity recognition. Some of our staff also

make use of body-worn cameras. We have also been trained in the use of drone equipment to enhance our surveillance methods.” The Deputy Security Manager disclosed that such apt security has culminated in a reduction in the incidence of stowaway attempts through the port. He said the vessel and port interface has been strengthened with respect to security. The GPHA Security official revealed that in 2022 neither has stowaways been nabbed nor disembarked at the Port of Tema. Similarly, in 2021, no attempts were recorded through the Port of Tema, even though 2 persons stowed away in other ports in Africa were disembarked at the Port of Tema. In 2020 however, six stowaway attempts were foiled by the GPHA Security and 13 persons were disembarked at the port. He also revealed that digitization of the port systems has reduced frauds associated with cargo clearance. Mr. Adjetey said unlike prior to the paperless port system, the

falsification of port clearance invoices by unscrupulous individuals and syndicates were rampant.

He said GPHA has ensured to put in place security measures that have made such acts almost impossible.

| NEWS

MONDAY, MAY 30, 2022

| FEATURE

MONDAY, MAY 30, 2022

Bridging inequalities to manage ruralurban migration in Ghana; a key step By Zadok Kwame Gyesi Mother of two Halima Abdulai, 34, came to Accra in 2015. Her decision to travel to Accra was based on the advice of her friend, Jemilatu Ibrahim, who had herself been in Accra since 2011. For Halima, circumstances necessitated she relocated from Savelugu in Ghana’s Northern Region to the national capital, Accra. While in Accra she would be engaged as a head porter (Kayayoo) to earn a living. Losing her husband to a motor accident in Tamale only ten months after her second child, life was no longer bearable for her and her two children. Now a single mother and unemployed, survival instinct kicked, sending her first from Tamale to Savelugu to perch with her mother and her husband, a welder.

She finally decided to make the journey to Accra around May. That was in 2015. It was her first time visiting the capital, and she dreamed big. Jemilatu also sent her friend GH¢100 via mobile money to pay her fare. And when Halima finally got to Accra at the STC station, Jemilatu and a few of her Kayayei friends were already there waiting. Jemilatu took her to her kiosk accommodation at Old Fadama, a slum community at Agbogbloshie in central Accra. Halima was happy that finally, her life was going to change for the better. But Jemilatu was not in the kiosk alone, she shared it with three other ladies, and Halima would be the fifth occupant. Halima was not worried at all about the kiosk being shared with other people; after all, they are all in Accra to

So when Jemilatu, who in Halima’s estimation was doing well in Accra invited her to come join the trade, she did not hesitate—it was an opportune call even if she did not have enough to pay her fare to Accra. Her motherly love troubled her too. Who would take care of her children, especially the younger one? Her first child, a girl, was almost three years old then, and the second, a boy, was one-andhalf years. She discussed her plans to travel to Accra to be a head porter with her mother. Halima’s mother was not too happy with her daughter’s decision, but she offered to take care of Halima’s first child. According to Halima, aside from her fear of who was to take care of her children, she was also scared about the Kayayoo job since she had heard a lot about the many challenges Kayayei (head porters) go through in Accra, particularly with accommodation. Her good friend, Jemilatu, had assured her though that she would share her kiosk accommodation with her.

better their lives for themselves— they are all hustlers. On her first day at work, Jemilatu showed her around the ins and outs of the Agbogbloshie market. And on the subsequent days, she took Halima to other places she plied her trade. For Halima, although the Kayayoo job was tedious, it was better than doing nothing. On her first day at work, she made more than GH¢100 and for Halima, who was finding it difficult to come by GH¢20 back in Savelugu, it was a life changing beginning. The band of lady hustlers did not anticipate the coming misfortune. Indeed they could not have. City authorities planned to eject squatters in the area for a proposed project, and the kiosk accommodation which provided a place for them to lay their heads, was part of illegal structures standing in the way. Sadly for her, the kiosk and hundreds other resting places were demolished just one-and-half months after she arrived in Accra. With no kiosk to sleep in, Jemilatu and Halima

together with her other friends, decided to make the pavements at the COCOBOD head office their beds after the day’s work. Halima’s case is but one of the many cases of people who leave their villages to the cities only to get stranded. Although Halima thought life in Accra will be good for her, things did not go as expected. Rural-urban migration is very high in many major cities of Ghana, particularly in Accra and Kumasi due to the inequalities of opportunities that exist in the rural areas of the country. A senior lecturer at the Centre for Migration Studies at the University of Ghana, Dr Mary Boatema Setrana, speaking via online during a two-day workshop organised by the Ghana Journalists Association (GJA) in partnership with the United Nations Educational, S c i e n t i f i c and Cultural Organisation ( U N E S C O ) to develop guidelines for migration reporting in Ghana, said statistics had shown that there had been an increase in continental or sub-regional migration than international by Ghanaians. “Unfortunately, media reportage has been on irregular migration through Libya and Morocco to Italy without focusing much of their reports on statistics of what the real experiences were’, she noted. Media Personality and gender advocate, Josephine OppongYeboah believes that it is lack of opportunities in our rural communities, particularly in northern Ghana that push many of them to come to the cities. “In their minds, once you come to the Accra or Kumasi, you will experience a better living condition,” she explained, adding that when you look at the issue of Kayaye, it is the kind of stories those already in the business tell others that drive many of them to come to Accra or Kumasi,” she explained. For Ms Oppong-Yeboah, who is also the Executive Producer of Metro TV’s Good Morning Ghana programme, if the government really wants to stop or manage the rural-urban migration flow, there will be the need to look at the inequalities in terms of

social amenities, health facilities, job creation, and educational opportunities in all areas of the country. “What happens is that when we over concentrate developments in only Accra or Kumasi and abandon other regions, we provide fertile grounds to encourage rural-urban migration,” she noted. She was of the view that the time has come for the country to evenly distribute development infrastructures across the country, noting that rural-urban migration is very critical; it could even affect our food security and also pose threat to our internal security. “When people from the villages come to the cities and there are no opportunities for them, it is only natural for them to find other ways to fend for themselves and that is where crimes are committed,” Ms Oppong-Yeboah remarked. She also charged the media to prioritise migration reporting in order to create more awareness about some of the underreported migration challenges in the country. “The media has a critical role to play when it comes to migration education,” she noted, adding “Duty bearers need to be told the realities on the ground and it is the media that can do that job.” For her, “We need the media to tell the stories on rural-urban migration as it is”, adding “It is very alarming how people are moving to the cities, in some instances, leaving their aged parents as well as their young children at home.” The Dean of the School of Communication Studies at the Wisconsin International University College (WIUC), Accra, Dr. Kweku Rockson, is of the view that although the media plays a critical role in migration reporting, “the complex nature of migration as a societal phenomenon demands critical thinking and the fervent pursuit of multiple sources, in-depth investigation of initial responses and the attempt to undertake an inclusive search for the truth.” That, he believes, the media needed to be empowered to understand the subject of migration very well in order to educate the public on the issue. For instance, the SDG Goal 10, aims to empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status by 2030. Similarly, SDG Goal 10 also calls for equal opportunities and to reduce inequalities of outcomes for all.

| FEATURE

MONDAY, MAY 30, 2022

Managing labour migration to promote Ghana’s development By Zadok Kwame Gyesi Those who are social media savvy might have come across one trending phrase among Ghanaian netizens tagged “the dream is to stay abroad and pray for Ghana.” As the name implies, proponents of the phrase are people who do not want to stay or work in Ghana but are concerned about Ghana’s development and therefore want to travel abroad and when they are abroad, they will offer prayers for Ghana. For the believers of this concept (the dream is to stay abroad and pray for Ghana), staying in Ghana is not part of their agenda. What they think they can offer as citizens is their prayers. As funny as the phrase may sound in people’s ears, this is not a laughing matter at all. Why am I saying that it is not a laughing matter? If promoters of this concept are able to influence many Ghanaians to believe in this, particularly the youth, it will not be difficult to predict the looming doom for Ghana. This concept of staying abroad and praying for Ghana has so many negative consequences for Ghana’s development—brain drain. Brain drain can cause serious damages to any economy if it is not checked. The Ghana Medical Association (GMA) recently expressed concerns over the number of medical professionals leaving the country to seek greener pastures abroad.

The General Secretary of the Ghana Medical Association (GMA), Dr Titus Beyuo, who was speaking on the New Day show on TV3 on Wednesday May 11, 2022, said medical doctors and nurses are leaving the country in droves. He said, “…as we speak, doctors, nurses are leaving this country in droves, brain drain has returned in full swing…I know that because I am the General Secretary of the GMA, I won’t give you figures immediately” he said when asked by the host of the show to mention how many people have left the country so far. Dr Beyuo revealed that five doctors in one unit of a certain “big hospital” in Accra had left since the beginning of 2022, calling for urgent actions to be taken to check the growing danger. “We need to do something about it,” he passionately urged duty bearers and stakeholders in the medical profession to find workable solution to the menace. Like what the medical profession is facing, many other sectors of the economy are also facing similar situations. Migration is increasingly recognised as a major human development issue which if effectively managed and harnessed could contribute to socioeconomic transformation in developed and developing countries. Even though migration is

an important tool for national development, if not well managed could negatively affect any society, particularly when the skilled workforce leave the country in search of opportunities elsewhere. The question therefore becomes “how do we keep our skilled labour in the country and not compel them to leave for abroad and only pray for Ghana? Keeping our skilled labour home means that we need to provide them with the opportunities they travel abroad to get—good working conditions and needed logistics to work with. When people begin to feel that there is no future in their own countries that is when many of them conceive the idea to migrate to places where they think will help them to fulfil their dreams. The worrying thing is that these are professionals whose training were partly sponsored by the state and are leaving with their skills to other countries that did not contribute to their training. It is therefore important for the government to address this labour migration that is carrying away the skilled labour force of the country to Europe, Asia and Americas. Even though some of our skilled labour had left the country already, we need to create opportunities to entice them to come back. Similarly, we could

create windows where this skilled labour who had left the country could still contribute to the development of the country for our shared prosperity? For instance, in 2016, the government introduced its migration policy, the National Migration Policy (NMP) as a bold attempt to provide a comprehensive framework to manage migration for Ghana’s sustainable development. The NMP has been formulated against the backdrop of several policy frameworks including the Constitution of Ghana and the Ghana Shared Growth and Development Agenda II (20142017). It is anchored within the context of the 2006 African Union (AU) Strategic Framework for Migration and the 2008 ECOWAS Common Approach on Migration. Even though the police sought to address many migration challenges including labour migration, we need to aggressively implement the migration policy so as to enable our country to check the negatives associated with migration and promote issues that bring in revenue from migration. Ghana needs not only the prayers of its youth; it needs their minds and physical contributions to help build the country. After all, faith without works has no effect as the Bible puts it.

| MARITIME

MONDAY, MAY 30, 2022

Freight forwarders sensitised to AfCFTA in Tema Members of the Tema Chapter of the Ghana Institute of Freight Forwarders (GIFF) have undergone a 3-day workshop on the Africa Continental Free Trade Agreement (AfCFTA) to provide them with the requisite capacity, so they can execute their roles well as trade facilitators in this new era of trade. The Ghana Revenue Authority collaborated with German international corporation, GIZ as facilitators for the sensitization workshop. The freight forwarders were taken through the various tenets of the trade especially the rules of origin component. AfCFTA Consultant, Dode Seidu noted that the sensitization is also critical to leverage on freight forwarders to educate potential importers and exporters under the free trade. “They will be in a very good

position to advise their clients, importers and exporters as to the market opportunities that African countries provide. They will be very important in leading the clients in the right direction.” He said that freight forwarders should not feel threatened against the backdrop that it is not mandatory across board for the services of a customs broker under the AfCFTA. “Freight forwarders should continue to provide their services, specialize and improve on the capacity, by attending programs like these. They should network with other freight forwarders so that they can extend their services beyond the borders of this country,” the AfCFTA Consultant added. The Tema Chairman of GIFF, Forwarder Johnny Mantey, called for continued sensitization of the freight forwarding fraternity

considering their indispensable role in trade and logistics. He argued that, while the services of a customs broker may not be compulsory within AfCFTA, it is near impossible for traders to do without freight forwarders, due to the certain technical complexities in the trade. AfCFTA consultant urges private sector to be proactive An AfCFTA Consultant, with Frontier Market Advisors, Dode Seidu, has called on the private sector and entrepreneurs to embrace the opportunity that the Africa Continental Free Trade Agreement (AfCFTA) presents for them. Speaking on Eye on Port, he said that it is crucial for private sector to be proactive when it comes to seeking out new markets and commencing trading actions. “Attempt to understand the market, the requirements and

what it would take to enter these markets and if at any step of your process you do not understand, you regroup. Do not sit and be skeptical. If you are a business person who has been able to take advantage of the Ghanaian market and you have a unique product duly registered, get ready for AfCFTA and do not sit on the fence,” he urged. “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,” he added. The AfCFTA Consultant explained that 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. So attend fairs, be proactive.” He urged traders to make use of institutions available at their disposal for the necessary information pertaining to the AfCFTA. Mr. Dode Seidu said “we have the Ghana Export Promotion Authority, we have the embassies of the various countries here, and they have trade attaches. The AfCFTA itself has the MANSA repository and AfCFTA Trade Observatory. These are all tools to help us. Take advantage of those institutions whose job is to facilitate trade. We have to knock on their doors, find out what opportunities there are and use them.” Dode Seidu touched on the benefits of tariff reductions on AfCFTA trading. He said while in the interim, countries may have to concede revenue losses from direct taxes from import duties and tariffs, the positives far outweigh such losses, especially for the private sector. According to him, the tariff reductions will enable traders cut cost when it comes to the total cost of trading across countries. He said it will enable goods traded within Africa to be competitive. The AfCFTA Consultant revealed that 43 out of 54 African countries have ratified the agreement and reached 88% agreement on the rules of origin.

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MONDAY, MAY 30, 2022

Cultivating the ideal future generation with Absa Bank National Science and Maths Quiz If you were scanning both the traditional and social media landscape carefully this month, you might have noticed that the Absa Bank National Science and Maths Quiz (NSMQ) competition is enjoying great coverage due to the ongoing regional championships happening all over the country. Since it first gained prominence on television close to four decades ago, the NSMQ has undoubtedly elevated the power of the Ghanaian student to navigate complex and knotty scientific problems and created a lot of leaders in the field of Science, Technology, Engineering and Mathematics (STEM). Aside from football, the competition belongs to a rare list of events in Ghana with the capacity to corral the entire country together in uncanny and interesting ways. Secondary school banter is always desirable and cathartic for majority of Ghanaians who passed through the system. Comparing schools in terms of academic prowess, products and pedigree is always exciting and competitive. The Science and Maths Quiz platform took these engagements to a different level of competition and, to some extent, strengthened alumni associations of most secondary schools. Corporate Ghana also saw an opportunity to gain brand recognition and visibility and came on board by way of sponsorships. However, three years ago, Absa Bank Ghana entered the fray as headline sponsor of the competition and transformed everything. Apart from gaining brand leverage and positioning from its association with the competition at the national level, it introduced a lot of dynamic activities to embed the platform in the Ghanaian consciousness. For example, Absa Bank viewed the partnership as a way of empowering and encouraging the general acceptance and practice of STEM education across the country. It was also a way of highlighting the bank’s role in society, beyond its core business

of banking. Absa Bank also introduced several dimensions to the national competition like the Absa Money Zone which rewards competing schools throughout the quarter-final, semi-final and grand-final stages with various cash prizes. Then came the STEM festival, which was designed to give students the opportunity to apply the theories in STEM to solve societal challenges. This was achieved through the SciTech Fair & Innovation Challenge, encouraging the youth to explore and showcase their innovative ideas. The Mentorship sessions of the festival on the other hand, exposed the youth to various career paths in STEM education in line with Goal 4 of the Sustainability Development Goals (SDGs). The NSMQ has also evolved with the inclusion of the regional championships that seeks to extend coverage and participation to a lot of schools within the

various regions. These schools get to compete against the best in their respective regions, including the highest ranked schools with automatic entry into the national event due to their previous year’s performance. This year’s regional championships will end with the Greater Accra finale on Saturday May 28th, 2022. What is adding a new dimension to these events is the seeming clamour and eagerness by the students to open bank accounts with Absa Bank. Most are excited by the investment and financial education delivered by the bank during the sessions and are excited about the chance to secure their own bank accounts ahead of their transition from secondary to Tertiary. “A bank account now is essential as I am in my final year and will soon need to take care of myself and make financial planning decisions. Absa Bank has been kind enough to introduce us to the basics of effective savings and

investment and this has changed my outlook,” said one final year student during the Volta regional championship finale. As Lawson Tornyi, Head of Deposits, Personal and SME Banking at Absa Bank says: “These are our future leaders and customers for that matter. Aside showcasing their competence in the competition and the positive reputation it brings, it is essential that we elevate their understanding of how to handle money and generate returns. I believe it will set them up for a very positive future.” So, amidst the euphoria and excitement of the regional competitions and the countdown to the national championships in the fourth quarter of this year, Absa Bank is also building a future generation of finance and investment conscious youth, who are ready to transform their generation and ensure sustainable growth for the country.

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MONDAY, MAY 30, 2022

Transport and logistics infrastructure essential to AfCFTA implementation—CILT Forum Industry players have acknowledged the need to prioritize transport supply chain logistics simultaneously with the implementation of the AfCFTA in order for the continent to achieve optimum benefits from the Single Continental Market agreement. Speaking at the 2022 Charted Institute of Logistics and Transport Africa Forum in Accra, a Deputy Minister of Trade and Industry, Herbert Krapa said the AfCFTA offers the opportunity to develop intra-regional value chains that to goes beyond only exploiting and exporting raw materials from the smallest supplier to big manufacturers. “We must develop linkages that enhance our ability and capacity to feed industry in a sustainable way if we are to reap the full benefit of our integration agenda, much of our efforts must be to ensuring that all participants are on the right side of the value chains,” he said. Minister of Transport in a speech delivered on his behalf by his deputy, Hassan Selemana

Tampuli, said AfCFTA and Africa’s transport infrastructure programmes were intrinsically linked and should be implemented simultaneously He therefore called for the need to develop programmes including the trans-African highways and the single African air transport market at the same level with AfCFTA. Secretary General of the AfCFTA Secretariat, Wamkele Mene,

addressing the participants, emphasized that transport and logistics and AfCFTA were interdependent and mutually reinforcing. “Challenges in logistics services such as insufficient coordination between countries regarding border procedures, inefficiency of customs clearance systems and fragmented and substandard transportation as well as delays in terminal handling and clearance

of goods can cause significant hindrance to the successful implementation of the AfCFTA,” he noted. Mr. Mene further reiterated calls to African states to leverage its inland waterways and short sea shipping as viable means of goods transport if they could properly take advantage of the single continental market. Dr. Fareed Arthur, Head of the National AfCFTA Coordinating Office, charged Ghanaian businesses to brace themselves for competition under the single continental market whilst urging them prepare adequately to become commercially viable and ready for meaningful trading on the market. “The more competitive the market becomes, the better the African consumer will be served; so, we must not be afraid of competition. I don’t think competition is something we should protect ourselves against, you’ll only have to produce better goods for the market,” he indicated.

Covid-19 has repurposed HR’s role and renewed focus on employees -Vodafone HR Director The 2021 HR Practitioner of the Year, Hannah Ashiokai Akrong, said the role of Human Resource practitioners are focusing more on employees because of the Covid-19 pandemic. According to her, HR management deployed a complex set of competencies to deal with the change in work patterns within a specific time and space. She made this known at a forum organised by the HR Certification Centre to commemorate the International HR Day. Annually, 20th May is International HR Day, an occasion to recognise all the hardworking HR and people professionals around the world. Speaking as a panel member on the topic, “HR: Shaping the new future organisation”, Vodafone Ghana’s Director of Human Resources said the pandemic has reshaped the pattern of industrial development. “Covid-19 has accelerated so much and because of the change that organisations are going through, HR Management has become pivotal to everything that is going on within the workspace,

particularly regarding talent management. We witnessed a debt of talents arising from massive resignations in some organisations. However, for Vodafone Ghana, we came up with a mapping strategy. We identified fourteen skills that are

pivotal to our firm and that has really helped,” she said. Commenting on performance evaluation, she said, “We have moved away from yearly performance evaluation to weekly and monthly conversations where we immediately identify

and address administrative challenges. Measuring employees’ performance annually wasn’t helping, so we adopted a monthly strategy”. “Also, 98% of our staff work remotely and we saw increased productivity within this period. This was achievable through the training we provided to employees on how to work effectively, remotely.” Asked if HR Practitioners are given the needed recognition, the 2021 HR Practitioner of the Year said, “It depends on the organisation you work for. The functions of the HR practitioner must be central. This must be structured properly to create an avenue for HR to report directly to the Chief Executive Officer (CEO). Because of its strategic position, if it is not recognised, the practitioner will find it difficult to implement a lot of things.” She further tasked practitioners to make a conscious effort to understand the business, finances, and the strategies within their respective companies.

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MONDAY, MAY 30, 2022

Over 500 students benefit from KonneKt World’s University Career Readiness Programme KonneKt World, a global, professional mentoring and coaching platform with personalized programmes, has successfully taken its University Career Readiness Programme to the nation’s top two premier institutions of higher learning, University of Ghana (UG) and Kwame Nkrumah University of Science and Technology (KNUST). The overall aim of the programme is to reach more than 10,000 students before the year ends across all the institutions of higher learning in the country, both public and private, with the next stop scheduled to be the University of Professional Studies, Accra (UPSA) next week. Held in partnership with the Students Representative Councils (SRC) of both institutions, more than 500 students across the two schools benefitted from career defining coaching, mentoring, and guidance that seek to better position them for a future in the world of work and entrepreneurship. Under The Millennium Development Authority (MiDA)’s Ghana Power Compact Internship and Mentoring Programme, KonneKt trained female STEM graduates to equip them with the skills necessary for careers in the energy sector in the first quarter of the year. Over 200 girls have undertaken this Career Readiness Program over the last two years, undertaking coaching for interviews, building professional networks for corporate opportunities as well

as highlighting the process of creating a business, from ideation to business planning and funding. KonneKt World is on a mission to ensure all African youth have access to this programming one university at a time. Phyllis Kuenyehia, Founder and CEO of KonneKt World noted that many students, while in school, just focus on the academic performance and by the time they graduate, are confused about next steps regarding their subsequent personal and professional goals. “We at KonneKt seek to develop fellows in their educational journeys, career development and management, emotional/ psychological well-being and relationship building,” she said after the first session at the University of Ghana, which took place on Saturday, May 7, 2022. “We are grateful to the University of Ghana SRC for all their help in making sure the event went smoothly. We were joined by curious students across all four-year groups who took the bold step to be the architects of their own careers. We discussed everything from building a valuable social capital, how we present ourselves in an Elevator Pitch, being serviceable in every environment, working diligently at every single thing that is put before us, relationships, internships, networking and so much more! We engaged the students to role plays in different scenarios to help them understand what real-life after university may look like,” she

added. With opportunities to join a professional networking programme to enhance chances of securing employment, Ms. Kuenyehia added that “each person that joined us in the KonneKt World University of Ghana Professional Network is one step closer to the successful and fulfilling life they want that is only attained through a deliberate and structured mapped out plan.” At the KNUST session, which took place on Thursday, May 12 and also formed part of the school’s 70th anniversary celebrations, Ms. Kuenyehia pointed out the key takeaways which include: “It is okay to be confused about what career you will pursue while in school as this is your time to explore far and wide; knowing where you need help and not being afraid to ask for it is really what is important. “Speaking positively about everything you are working on and building; and tapping into your networks and support systems to hold you up and boost you forward,” she said, adding that elevator pitches, relationships, internships and so much more were role played and asked about in breakout groups. “Each person that joined us in the KonneKt World KNUST Professional Network is one step closer to the successful and fulfilling life they want that is only attained through a deliberate and structured mapped out plan,” she added. About KonneKt World

KonneKt World is a global, professional mentoring and coaching platform with personalized programs that seeks to develop its fellows in their educational journeys, career development and management, effective networking, emotional/ psychological well-being, relationship building, and financial management. With a methodology rooted in storytelling, KonneKt’s work focuses on designing clear career trajectories in the corporate world and entrepreneurship fields through experiential learning and by leveraging innovative software for all solutions. What is unique about KonneKt is that we hold your hand during your most difficult challenges and deepest fears. We help you develop unique strategies that can turn your challenges into tools that yield extraordinary results in any area of your life. The KonneKt Mentoring programme is designed to help its mentees expand their knowledge and skills, gain valuable advice from a more experienced person, and build their professional networks. KonneKt services include Mentorship Opportunities, Mentee Opportunities, Mentoring Strategy Consulting, Mentoring Program Setup, Program Management + Insights, Career Development, and Training and so much more. Visit their website KonneKt World to learn more.

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MONDAY, MAY 30, 2022

Calls for government to scrap taxes on sanitary pads heighten

A non-governmental organization, ‘Could You’ has appealed to the government to scrap taxes on sanitary pads. Government currently charges about 33 per cent in a luxury tax

and VAT on sanitary pads. But the NGO observed the situation is denying girls in rural areas the use of sanitary pads due to the hike in prices of the product.

A pack of sanitary pads which used to be sold at 5 cedis last year has seen its price double and now sells at 10 Ghana cedis in 2022. A teacher at Asisiriwa D/A JHS, Mary Akayini says, “some girls in the area sleep with men in exchange for money to buy pads. They do this because of the high price of the pad”. ‘Could You’ appeals to government to scrap taxes on sanitary pads As part of activities to mark this year’s World Menstrual Hygiene Day, Could You, distributed 150 menstrual cups to some pupils in the Bosome Freho district. Menstrual cups, unlike sanitary pads, are reusable and will help girls save money. Nsiah Princess is one of the beneficiaries of the menstrual cups donated by Could You 2-months ago. “Now I don’t buy sanitary pads again because of the menstrual cup and I have been able to save a little money as well,” she noted. ‘Could You’ appeals to

government to scrap taxes on sanitary pads ”Could You” wants government to scrap taxes on sanitary pads to make it affordable to teenagers in rural areas. “We have been working with the girls in this community for over a year and one problem we have identified is they lack access to menstrual hygiene products and menstrual awareness,” Kofi Kyeremateng Nyanteng, Country Director of Could You, said. “We’re working with girls in rural communities to address menstrual poverty through our menstrual cups and education initiative. We want the government to scrap off taxes so that girls in the rural areas can afford it”. ‘Could You’ appeals to government to scrap taxes on sanitary pads Anna Sefakor Afua Dotse, the project nurse, educated girls on the need to use a menstrual cup. According to her “the cup can last for 10 years as compared to the pad,” she revealed.

GEPA, ITC host 13th WTPO conference and awards in Accra Ghana hosted the 13th edition of the World Trade Promotion Organization Conference (WTPO) in Accra on the theme “Bold solutions for resilience and recovery” from the COVID-19 pandemic. The event which was jointly organized by the Ghana Export Promotion Authority (GEPA) and the International Trade Centre (ITC) was attended by all 57 Trade Promotion Organizations

member countries. With the United Nations Sustainable Development Goals as a guide, the event will outline and celebrate how trade and investment organizations address business survival and competitiveness, and support trade-led growth, while serving their communities and protecting the planet. Dr. Afua Asabea Asare, Chief Executive Officer of the Ghana

Export Promotion Authority, encouraged MSMEs to take advantage of innovative initiatives provided by Trade Promotion Organisations such as GEPA, to scale up the capacity of exporters – especially during a period of adversity when it was increasingly difficult for individual businesses to record gains. Pamela Coke Hamilton, Executive Director of the International Trade Centre (ITC),

noted that the time had come for TPOs to increase their efforts in supporting businesses as they recovered from the negative impact of the COVID-19 pandemic. Addressing the conference, Ghana’s Minister of Trade and Industry, Alan Kwadwo Kyerematen, lauded efforts of smaller businesses supported by Trade Promotion Organizations, who innovated in times of adversity to remain relevant and kept the global economy in motion and pledged his Ministry’s support in ensuring that Ghana’s industrialization agenda had relevance. Secretary General of the AfCFTA Secretariat, Wamkele Mene, said the future of Africa’s economic recovery is in the hands of small and medium enterprises. The occasion witnessed the signing of an MOU that seeks to formalize the working relations between both the AfCFTA Secretariat and the ITC to support the empowerment of the private sector to help particularly MSMEs, women and youth entrepreneurs improve their export competitiveness and access new business opportunities offered by the agreement.

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MONDAY, MAY 30, 2022

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MONDAY, MAY 30, 2022

Public sector reform implementation so far By Ernest Zume The quest to deliver quality services to citizens has been of major concern for successive governments. Many Ghanaians have expressed their frustration about the working culture of public sector institutions, particularly with the delays in the delivery of services to the people. This article looks at the development of the Public Sector Reform for Results Project (PSRR) and its implementation status. In line with Article 36 (5) of the 1992 Constitution, in 2017, the government initiated the Coordinated Programme of Economic and Social Development Policies (20172024), in line with the preparation of the Medium-Term National Development Policy Framework (2018-2021) to guide ministries, departments and agencies (MDAs), and metropolitan, municipal and district assemblies (MMDAs). The policy framework concentrated on improving leadership for effective management of public policy and administration. Delivery Regarding the improvement of service delivery among public sector institutions, the government developed the National Public Sector Reform Strategy (NPSRS) 2018-2023 by reviewing the previous reforms and introducing a wide range of changes and innovations. The strategy was developed by a team of civil servants, academia and technical experts under the supervision of the then Senior Minister, Mr Yaw Osafo-Maafo, and coordinated by the Chief Executive Officer (CEO) of the Public Sector Reform Secretariat (PSRS), Thomas Kusi Boafo. The goal of the NPSRS (2018 – 2023) was to achieve “enhanced public service delivery to citizens and the private sector”. Based on the successful launch of the NPSRS (2018-2023), the government initiated a project in collaboration with the World Bank Group to partially support the implementation of the NPSRS with a credit facility of US$32million for the development and implementation of a four-year PSRRP (2019-2023). The project objective was, “Improving efficiency and accountability in the delivery of selected services by selected entities”.

Beneficiary entities The 13 beneficiary entities are the Driver and Vehicle Licensing Authority (DVLA); Passport Office, Births and Deaths Registry; the Ministry of Transport; the Ministry of Foreign Affairs and Regional Integration; the Ministry of Environment Science Technology and Innovation; the Ministry of Local Government Decentralisation and Rural Development, and the Office of the Head of Civil Service (OHCS). The rest are the Public Services Commission (PSC); the Commission for Human Rights and Administrative Justice (CHRAJ); the Monitoring and Evaluation (M&E) Secretariat; the National Information Technology Agency (NITA) and the Public Sector Reform Secretariat (PSRS), the implementing agency. The selected entities developed their own proposals for the implementation of their reform activities. Following the proposals submitted in 2020, it was imperative to procure vehicles,

motorbikes and ICT equipment to enable them improve on their service delivery and enhance their systems and processes, especially at the local level. The Births and Deaths Registry received 10 double cabin pickups and 120 motorbikes to expand the coverage of their services and facilitate mobile registration of births and deaths across the country. These have increased their registration process across the country with the year 2020 recording 68 per cent, with 70 per cent achieved in 2021. Again, six of the 12-seater mini buses procured for the DVLA were fitted with licensing equipment to support the innovative Tertiary Drive (TERTDRIVE) programme, with 2,319 students registering and writing the driver licence theory test, and 1,996 passing and having their licences 2021. CHRAJ had 19 desktop computers, 19 laptop computers, 25 printers, 23 photocopy machines, 18 projectors, 20 digital voice

recorders, 24 scanners, 20 internet routers and others, to help in revamping its ICT systems its offices across the six newly created regions. The OHCS received third party internet service, including 30 internet routers for their offices, to improve the processing of staff data through online recruitment and online promotional interviews, including training programmes, in the year 2020 and 2021. The reforms initiated are improving the delivery of services to the citizens. The PSRRP would largely support the advancement of modern technology on the systems, processes and procedures of selected entities for easier and faster access to service delivery to citizens across the country. The writer is a Communication Specialist for the PSRRP/ PRO, Office of the Senior Presidential Advisor. E-mail: ernestzume@ gmail.com

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MONDAY, MAY 30, 2022

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MONDAY, MAY 30, 2022

Women’s rights and childhood poverty By Laura Tyson, Lenny Mendonca kson Women’s Health Organization, the US Supreme Court seems poised to abolish the half-century-old federally protected constitutional right to abortion. This ruling would be a direct federal attack on women and their right to control their bodies and their decisions about whether and when to have children, with adverse ripple effects on their education, earnings, and life outcomes and those of their children. According to anamicus brief signed by 154 distinguished economists, including Claudia Goldin of Harvard University and Sharon Oster of Yale University, abortion restrictions would lead to increased childhood poverty. And a child growing up

of congressional Republicans to extend a child tax credit that had reduced childhood poverty by 40% during the pandemic. Of the 26 states that are now planning strict abortion bans, many rank in the bottom half of states in terms of the support they provide to children and their families. While many of these states are rushing to abolish abortion rights under all circumstances – including rape, incest, and risks to the life of the mother – some are even considering bans on birth control. The growing influence of evangelical voters in these states has rapidly eroded the wall of separation between church and state that has been a foundation of American democracy. While conservative-controlled

(a cash-allowance program for families with children), an earned income tax credit and associated child tax credit, paid family leave, access to affordable health care, and universal preschool. Moreover, Governor Gavin Newsom’s latest budget includes proposals for two free years of community college and $18.1 billion for a one-time inflationrelief package to households to offset rising costs for fuel and public transportation. But even in California, nearly one-third of residents live at or near the poverty line. On a costof-living-adjusted basis, the state’s childhood and overall poverty rates are among the highest in the country. And that is despite the fact that existing federal and state

uptake of existing programs. For example, with pro bono assistance from the NGO Code for America, US President Joe Biden’s administration launched a digital portal to simplify and streamline filing for the federal child tax credit. And End Poverty in California – a nonprofit created by former Stockton Mayor Michael Tubbs (who previously piloted a successful guaranteed-income program in California and is serving as an adviser to Newsom) – is working with a group of California counties to simplify and automate all available state and federal programs, with the goal of developing a single signon, opt-out eligibility process. Given California’s success with automatic voter registration,

in poverty in the United States experiences worse outcomes, on average, across pretty much every measurable dimension, from physical and mental health, educational attainment, and labor-market success to delinquency, out-of-wedlock pregnancy, and crime. Worse, the US already has one of the highest childhood poverty rates among advanced economies, and it is the only one that does not provide a basic child allowance. As the late comedian George Carlin once observed, “[US] conservatives … are all in favor of the unborn, but once you’re born, you’re on your own!” A recent case in point is the refusal

America hurtles toward theocracy, many states are rushing to defend women’s abortion rights and children’s well-being, demonstrating the strength of progressive federalism. In California and 15 other states (plus the District of Columbia), lawmakers are considering how to strengthen abortion rights for their own residents and for Americans traveling from other states to access reproductivehealth services. These states also rank higher than conservative-controlled states in terms of policies to support poor families, mothers, and children. In California, these measures include CalWORKs

programs (if fully funded and used by eligible citizens) should be sufficient to enable any California family to stay out of poverty. In addition to inadequate funding, part of the problem at both the national and state levels is that far too many safety-net programs are confusing and inaccessible to the targeted beneficiaries. Some programs have uptake rates of less than 75% of the eligible population. At the same time, many households that do access programs run into unnecessary and counterproductive benefit ceilings (or cliffs) while still in poverty. There are some efforts underway to increase the accessibility and

registering for benefits eligibility should not be so difficult. US states and the federal government could learn a lot from Estonia’s example of how to provide digital citizenship benefits. Unfortunately, the US federal government is pulling back on pandemic-era policies to support families just when the Supreme Court is poised to increase childhood poverty even more. With an increasingly politicized and hostile Court and a US Senate that is reluctant to eliminate the filibuster to pass progressive programs, the task of looking out for America’s women and children will fall even more to progressive states.

| MARKET REVIEW

MONDAY, MAY 30, 2022

WEEKLY MARKET REVIEW FOR WEEK ENDING - MAY 20, 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

18.86%

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 strengthened for the week on the back of gains in share prices of 4 counters. The GSE Composite Index (GSE CI) gained 2.37 points (+0.09%) to close at 2,564.20 points, reflecting yearto-date (YTD) loss of 8.07%. The GSE Financial Stocks Index (GSE FI) also gained 4.11 points (+0.19%) to close at 2,210.43 points, reflecting year-to-date (YTD) gain of 2.72%. Market capitalization inched up by 0.05% to close the week at GH¢62,540.50 million, from GH¢62,508.52 million at the close of the previous week. This reflects YTD decrease of 3.03%. Trading activity registered a total of 1,667,473 shares valued at GH¢3,918,729.40 changing hands, compared with 631,248,142 shares, valued at GH¢580,516,363.55 in the preceding week. MTN dominated volume of trades for the week, accounting for 57.93% of trades whiles New Gold dominated value of trades, accounting for 60.42% of shares traded respectively. The market ended the week with 4 leaders and 1 laggards as indicated on the table below.

THE CURRENCY MARKET The Cedi marginally depreciated against the USD for the week. It traded at GH¢7.1323/$, compared with GH¢7.1163/$ at week open, reflecting w/w and YTD depreciations of 0.22% and 15.79% respectively. This compares with YTD appreciation of 0.50% a year ago. The Cedi depreciated against the GBP for the first time after gains in four consecutive weeks. It traded at GH¢8.8979/£, compared with GH¢8.7022/£ at week open, reflecting w/w and YTD depreciation of 2.20% and 8.66% respectively. This compares with YTD depreciation of 3.03% a year ago. The Cedi also lost against the Euro for the week. It traded at GH¢7.5276/€, compared with GH¢7.4001/€ at week open, reflecting w/w and YTD depreciation of 1.69% and 9.29% respectively. This compares with YTD appreciation of 1.12% a year ago. The Cedi further depreciated against the Canadian Dollar for the week. It opened at GH¢5.4975/C$ but closed at GH¢5.5558/C$, reflecting w/w and YTD depreciation of 1.05% and 14.65% respectively. This compares with YTD depreciation of 4.76% a year ago.

source: Bank of Ghana

MONDAY, MAY 30, 2022

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BUSINESS TERM OF THE WEEK

COMMODITY MARKET Crude oil prices settled slightly higher for the week as a planned European Union ban on Russian oil and easing of COVID-19 lockdowns in China countered concerns that slowing economic growth will hurt demand. Brent futures traded at US$112.55 a barrel on Friday, compared to US$111.55 at week open. This reflects w/w loss and YTD gains of 0.90% and 44.70% respectively. Gold prices rose to a one-week high as the U.S. dollar receded from two-decade highs, reviving demand for safe-haven bullion. Gold settled at US$1,842.10, from US$1,808.20 last week, reflecting w/w and YTD gains of 1.87% and 0.74% respectively. Prices of Cocoa declined for the week. The commodity traded at US$2,429.00 per tonne on Friday, from US$2,483.00 last week, reflecting w/w and YTD losses of 2.17% and 3.61% respectively.

GOVERNMENT SECURITIES MARKET Government raised a sum of GH¢1,292.10 million for the week across the 91-Day, 182-Day and 3-Year Fixed Rate Bond. This compared with GH¢1,248.67 million raised in the previous week. The 91-Day Bill settled at 19.08% p.a from 18.23% p.a. last week whilst the 182-Day Bill settled at 20.76% p.a from 19.26% p.a. last week. The 3-Year FXR Bond settled at 25.00% p.a from 20.85% p.a at last issue. The table and graph below highlight primary market yields at close of the week.

Capital Flight: Capital flight is a large-scale exodus of financial assets and capital from a nation due to events such as political or economic instability, currency devaluation or the imposition of capital controls. Source: https://www.investopedia.com/terms/c/ capitalflight.asp

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).

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

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

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NO. B24/317 | NEWS FOR BUSINESS LEADERS

MONDAY, MAY 30, 2022

Wilmar Africa wins 3 awards at 6th Ghana Manufacturing Awards Wilmar Africa Limited, producers of Frytol and Fortune Rice has won three awards at the just-ended sixth edition of the Ghana Manufacturing Awards (2022) held at the Kempinski Hotel in Accra last night. These awards were Marketing Campaign of the Year (Frytol Healthy Heart Campaign), Detergent Manufacturing Company of the Year and Agro-Processing Company of the Year for the second time running. The star-studded event organized by Xodus Communications Limited under the auspices of the Ministry of Trade and Industries seeks to celebrate companies and individuals who have demonstrated outstanding performance in entrepreneurship, quality, health and safety, Corporate Social Responsibility and innovation in the manufacturing industry. For Wilmar Africa, these awards are an authentication of the company’s continuous growth and contribution to the Ghana manufacturing industry and the Ghanaian economy. The General Manager of Wilmar Africa Limited, Kwame Wiafe reiterated Wilmar Africa’s vision and thanked the awarding board for the rigour in the awarding process, and congratulated his team – the entire Wilmar Africa and its subsidiaries-

for their dedication and commitment to pushing the company’s growth agenda and their commendable efforts in the receipt of these awards. The Marketing campaign of the year was one of the keenly contested awards categories with notable engaging campaigns from notable companies. It was therefore another round of excitement for Wilmar Africa when the Frytol Healthy Hearts campaign emerged as the winning campaign. Speaking to the media, the Head of Marketing for Wilmar Africa Limited, Patience Oforiwa Mpereh explained the purpose of the campaign was targeted to promote heart health among Ghanaians by providing platforms for physical activities, healthy diets and mental health. She added that the campaign was a leg of the Frytol Goodness theme that seeks to remind individuals to continuously keep their physical framework in check, whilst promoting healthy diets through the consumption of nutritious products free from cholesterol. This campaign also included a partnership & donation to the National Cardio Unit of the Korlebu teaching hospital to support the heart surgeries of some kids.

The Detergent Manufacturer of the Year award was also in recognition of the company’s huge investment in commissioning one of the largest detergent plants in West Africa. In her final remarks Patience Mpereh, thanked all Wilmar Africa employees, trade partners, consumers and agency partners,

for their various contributions in obtaining these awards and restated Wilmar Africa’s commitment in investing in the Ghanaian economy, communities, brands and Consumers, whilst looking forward to continued successes in the subsequent years ahead.

NGO calls on government to invest in sanitary pad production to enhance accessibility Girls Shall Grow, an Obuasi based NGO has appealed to Government to consider supporting local firms to venture into the production of sanitary pads. This they said will enhance access to Sanitary pads especially at the rural areas. Mrs. Louisa Amoah made this call when Girls Shall Grow partnered the Education and Health Directorates in Obuasi to sensitise school girls in Obuasi on Menstrual Hygiene to observe this year’s edition of World Menstrual Hygiene Day. The Executive Director, Mrs. Louisa Amoah, made this call during a conference to mark this year’s edition of World Menstrual Hygiene Day to sensitise school girls in Obuasi on menstrual hygiene and to distribute free sanitary pads to all participants. The conference was in partnership with Ghana Education and Health Directorates in Obuasi Municipal and had over 350 girls selected from 26 schools within the municipality. “She said considering the high cost of sanitary pads, it becomes difficult for children from poor homes to access them. As a result of that

they sometimes resort to the use of alternatives such as rags, paper, and other materials”. “ To enhance accessibility and affordability for sanitary pads, just as it’s been done for One District One Factory, Government can partner the private sector to go into the production of sanitary products for women. This will enhance menstrual Hygiene and contribute to reducing absenteeism during menstruation “.

“She again called for an all hands on deck approach to deal with the stigma and misconceptions associated with menstruation. Girls Shall Grow since its establishment in 2018 has led this charge by bringing health professionals on board to educate young girls on the need

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to observe menstrual hygiene. She called on other stakeholders to join in sustaining the discussions on menstrual hygiene among the girl child”. LACK OF TOILET FACILITIES IN SCHOOLS HAMPERS GIRLS FROM OBSERVING GOOD MENSTRUAL HYGIENE The Obuasi Municipal Education Director George Alfred Koomson has bemoaned the lack of toilet facilities in some basic schools in the Municipality. Describing the situation as worrying, the Director of Education said the absence of this basic facility prevents most girls from coming to school during the period of menstruation. He called on parents and other bodies to support the Local Assembly to build toilet facilities in all basic schools in the Municipality. Mr. Koomson again disclosed that the Education Directorate has intensified education on in schools

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for both boys and girls to understand menstruation amd to put to bed the misconceptions surrounding it. Madam Margaret Yaa Manu, the Municipal Health Director who was the Resource person for the program sensitized the girls drawn from selected schools in Obuasi on safe menstruation. She said girls should see menstruation as a natural bodily process. She said girls must not be stigmatised or discriminated against when they go through the process. ABOUT GIRLS SHALL GROW Girls shall grow started in February 2018 in Obuasi, Ghana with the aim to empower girls in communities to take up leadership roles and also be responsible women tomorrow. It organizes events that bring girls together to learn, share their experiences and prepares them to be strong willed ladies in the society, the nation and world at large. These are achieved through sensitization programmes like seminars, workshops and community outreaches with the help of Mentors to guide them achieve their goals.