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Tullow reacts to GOGSPA
Government begins processes for energy transition
By Eugene Davis
Gov’t theVodafonecommendsforsupportingyouth
Minority stings telcos’ regulator over SIM card blockage
With COP27 less than two months away, Sameh Shoukry, the Egyptian Minister of Foreign Affairs and COP27 President-Designate, said financing for climate action in Africa had not been forthcoming despite the pledges. “COP27,” he said, “is a chance to Itdeliver”.wasatheme picked up by Amina J Mohammed, Deputy-Secretary general of the United Nations. “We’re losing time in making promises a reality in the lives of people. Mobilise, Act. Invest”, she tweeted. “Our people and planet depend on it.” Ministers gathered in Cairo addressed a number of pressing issues, including the need to increase private sector finance, reducing the cost of green finance, debt-for-climate swaps and investing in sustainable infrastructure.
The United Nations Economic Commission for Africa (ECA) has calculated that climate change will cost an average of 5% of GDP for African countries by 2030, based on a scenario of two degrees of warming.
WEDNESDAY, SEPTEMBER 14, 2022 NEWS FOR BUSINESS LEADERS .COM.GH Story on page 4 Story on page 5 Story on page 5 Story on page 1
Green bonds and debtfor-nature: From pledges to implementation in Africa
How do you finance a fair post-pandemic green and sustainable recovery? And how do you turn pledges into action? African ministers of finance, economy and the environment have been meeting in Egypt to discuss theses urgent questions.
Horticulture fast becoming the new job-making machine
reason than to limit usage by citizens is the lowest point in a nation’s removedafterwardsgraceretrievere-registrationSeptembercardsindicatedimmature.”aofanypolicydevelopment.telecommunications“Itisabackwardregulatory/prescriptiontofollowinregime.Toomuchreliancerules/regulationsexposescommunicationssystemasMeanwhile,theNCAhasindividualswhoseSIMwillbeblockedafterthe30deadlinesetfortheexercisecanonlythemwithinasix-monthperiod.UnregisteredSIMcardswillbecompletelyfromthesystem.
The minority leader said the sector ministry and the NCA are simply ignoring the legitimate concerns of Ghanaians who are crying and saying ‘we do not have the Ghana card, help us access these public goods.’
Stratcomm Africa is leading the charge to green
By Eugene Davis
Minority stings telcos’ regulator over SIM card blockage
SIM card owners in Ghana who failed to re-register their cards started facing punitive actions on Monday, September 5, 2022, ahead of the September 30 deadline.Theminority says the punitive actions are unreasonable, explaining that to completely
Minority Leader, Haruna Iddrisu (middle) addresses the parliamentary press corps
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It is trite to say that with the right national and individual orientation, policies, and drive, Ghana’s rich flora and fauna resources could provide millions of jobs to the country’s teeming youth.
Ghana for the varied purposes of beautification, wealth and job creation as well as a sustainable fight against climate change.
Copyright @ 2019 Business24 Limited. All Rights Reserved.
Aside the enviro-friendly outcomes, there is proven economic potential in the green economy, specifically the horticultural value chain.
Limited
“When the last tree dies, the last man dies” they say and truly so because flora and fauna preserve the environment and hence human life, and at a time that economies are grossly feeling the harsh outcomes of climate change, the need to preserve our environment and green resources have become even more critical.
Recent statistics put proportions of the youth (15 to 35) that are unemployed and seeking work at 34.2percent. Unemployment is therefore considered by many to be the most critical issue affecting the country.
Now in is tenth year, the annual Garden and Flower Show challenges and motivates the youth and businesses in the sector to aspire to grow and reach their full potential, in order to improve their livelihoods and impact society.
This year’s theme “Growth Unleashed” preps the mind of young Ghanaians to burst forth and to grow beyond the norms to achieve a blooming environment.Theglobal horticulture market is estimated to be valued at USD 20.77 Billion as of 2021 and is projected to reach US$40.24bn by 2026 at a compound annual growth of 10.2percent whilst global flower and ornamental plants market was valued at US$475.6m in 2020 and is expected to reach US$725.4m by the end of 2027, growing annually at 6.3percent during 2021-2027.
The Minority in Parliament led by its leader, Haruna Iddrisu, has accused the National Communications Authority (NCA) of exceeding their mandates of the law by blocking Ghanaians of their sim Accordingcards.to them, today, digitalization and ICT are directly tied to key fundamental rights including the right to privacy and communication as no person should be subjected to interference with the privacy of theirAddressingcommunication.apress conference on Tuesday at parliament house, Mr. Iddrisu said “It is the view of the minority that the NCA is acting ultra vires in curtailing the exercise and enjoyment of the right to privacy of communication.
The government is proceeding erroneously as if every Ghanaian has a Ghana card. This is simply not true; it is not the case.”
At a panel discussion hosted by the ECA on swapping official debt for investment in climate resilience, Jean-Paul Adam, Director of the ECA’s Technology, Climate Change and Natural Resource Management Division, highlighted the need to scale up debt-for-nature swaps.
The ECA said more funds would be required for this than have been mobilised so far. In addition, it stressed that the instruments to mobilise them needed to be made relevant and responsive to Africa’s specific circumstances.
If temperatures rise further, regions like the Sahel could lose up to 15% of GDP. African countries must meet their obligations under the Paris Agreement. But that needs financing.
To improve peer-learning and foster a dialogue between governments and ratings agencies, the ECA also held a workshop on how sovereign rating and the Liquidity and Sustainability Fund (LSF) could support countries’ green agenda.
They could, he said, raise capital to meet environmental challenges and support green growth.TheMinister for Agriculture, Climate Change and the Environment in the Seychelles, Flavien Joubert, said his country had embarked on one of the first such swaps, refinancing over 20 million USD of their official debt, and using the savings and proceeds on an annual basis to help fund the creation of marine protected areas covering 30% of Seychelles Exclusive Economic Zone.The
There was immense interest in the Great Blue Wall Initiative as an opportunity for generating new investments in climate and nature.The Great Blue Wall aims to stimulate the development of Africa’s coastal and marine resources – the blue economy sector, which is estimated by the ECA to be worth 10billion USD per year. It aims to raise the first regional blue bond. Somalia expressed an interest in joining the initiative and using the ECA’s Blue Economy Valuation Toolkit.
Among other issues, the forum also considered the development of Africa’s carbon markets, recognizing that a high integrity carbon market is an effective incentive to increase ambition while also raising resources for
The continent had contributed the least to climate change, she said – less than 4% of global greenhouse gas emissions – but would be impacted the most and had one of the lowest adaptive capacities among all global regions.Speaking at a meeting with the Egyptian Minister of Finance, Mohamed Maait, Ms Morsy said the ECA had prioritized helping African countries to address liquidity shortages amid tightening global financial conditions.Forthe future, the inclusion of middle-income countries in the G20 Common Framework would have to be a key priority. So too would be another issuance of SDR, with a greater share allocated to Africa.
also pointed to initiatives by Egypt which could be held up as examples, such as the issuance of the first sovereign green bond in North Africa. Egypt could share best practices in innovative finance with other African countries, he said.
Green bonds and debt-for-nature: From pledges to implementation in Africa
of refinancing existing debt for investing in nature through such a hub, saying goals that reflect the true value of natural capital were currently not well reflected in debt markets including sovereign debt markets.
ECA is currently supporting the development of a high integrity carbon credit registry for the Congo Basin which helps build to capacity of countries of the region and ensure delivery of results that are meaningful for communities.Ajointcommunique issued at the end of the ministers’ meeting requested the ECA to present a proposal to establish a Sustainable Sovereign Debt Hub.
considered ways
meeting discussed the need to create a new framework to link debt management to climate resilience goals, and tasked ECA with developing a proposal for a Sustainable Sovereign Debt Hub to support countries to either refinance existing debt or issue new debt aligned with climate goals and using Key Performance Indicators.Ministers
Mr Maait said Egypt is working on uniting Africa’s voice for COP27, to reduce inequalities in access to climate finance. He
Hanan Morsy, the ECA’s Deputy Executive Secretary, said amplifying Africa’s voice in global economic debates was critical for the fair and equitable distribution of climate finance.
South-South cooperation with Egypt was proposed, as it had demonstrated great progress in tackling water scarcity and notably through its comprehensive NFWE projecttackling the nexus between food security, water and energy.
investment in the SDGs and climate objectives.
It argued that such a hub could reduce the cost of capital for developing countries, it would support the opportunity to undertake debt for climate adaptation swaps and make sovereign debt markets responsive to climate change and nature restoration, particularly in countries facing financing challenges due to external shocks.
WEDNESDAY, SEPTEMBER 14, 2022 | FEATURE 3
Closing the conferenc, Deputy Executive Secretary, Hanan Morsy, outlined that while African solutions need support, they wanted to design their own responses: “African countries need support- and promises must beButkept. African countries are determined to also be the owners and drivers of their own solutions. This is what we have seen at this ICF and we congratulate the Government of Egypt and the COP27 president designate once again on this leadership.”
The Deputy Minister of Communications and Digitalisation, Ama Pomaa Boateng, has lauded Vodafone Ghana for supporting the youth in developing core digital skills that add value to their careers andTheventures.deputy minister commended the telecommunications network during her opening remarks at the Vodafone Skills Fair held on 1st September 2022. The Minister added that she was especially impressed with Vodafone’s support for the government’s agenda of driving digital growth among the Accordingyouth.to her, Vodafone Ghana has shown this
While applauding Vodafone for hosting the Skills Fair, she urged the youth to take advantage of the platform to gain digital skills that will prepare them for future challenges.“Wethank you, Vodafone Ghana, for your support over the years. We encourage you, the youth, to take up this space. Pay attention, ask questions, and be relevant. Thank you, Vodafone Ghana, for supporting our youth, making them digital citizens, and making them secure online,” she
WEDNESDAY, SEPTEMBER 14, 20224 | NEWS
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commitment over the years by partnering with the Ministry to embark on various initiatives such as the Girls in ICT programme, the Tertiary Digital Innovation programme, and others.
Tullow reacts to GOGSPA Government begins processes for energy transition
Ghana assures all stakeholders of its commitment to indigenous Ghanaian participation in contracts awarded. From inception of its operations, Tullow Ghana always recognised the need to support and build local expertise and has undertaken several skills development programmes to support the growth of local participation and pursued targeted Supplier Development
WEDNESDAY, SEPTEMBER 14, 2022 | NEWS 5
Mr Nero said this on Monday at a policy dialogue on the theme: “Energy Transition in Ghana: Our State of Play and Agenda for COP 27.”It was organised by the Action for Citizens-Led Transformation Africa (ACT Africa) and the Natural Resource Governance Institute (NRGI).
Source:energy.GNA
said the dialogue was to seek understanding and influence government’s position for the climate conference and explore issues on just transition, financing and its implications for Ghana andShebeyond.said Ghana’s strong economic evolution over the years had created opportunities including poverty reduction, increased access to the national electricity grid and increase in energy consumption.
Mr Abdulkarim, Mohammed, Team Leader, ACT Africa said
Initiatives aimed at enabling participation in the oil and gas industry in Ghana,” a statement issued by the company said.
Ghana set up the NETC in December 2021 and launched the Committee in February 2022.
Mr Callistus Nero, a member of the National Energy Transition Committee (NETC), says the government has started stakeholder engagement for the transition from fossil-based fuel to zero carbon.
It mentioned that as a result of these interventions, over 4,500 local entities have been impacted and benefited from various development initiatives and training
between 2014 to 2021 when LI 2204 was passed, Tullow Ghana tripled its indigenous contract award spend to up to $1.47 billion compared to $500 million in 2014,” it Tullowintimated.Ghanahas assured all stakeholders of its commitment to work with and develop the capacity of local Ghanaians to
Tullow Ghana says it has taken note of publications by a number of Ghanaian media outlets regarding a writ of summons issued against it by the Ghana Oil and Gas Service Providers Association (GOGSPA).
The company confirmed it has entered conditional appearance to the writ of summons by GOGSPA.“Thematter is now before the High Court, Accra and has been adjourned to 10th October, 2022 for the hearing of an application for interlocutory injunction filed by“TullowGOGSPA.
“Over the years, Tullow Ghana has been consistent in steadily increasing contracts awarded to indigenous companies and has no desire to replace indigenous Ghanaian companies with foreign companies. On the contrary,
participate in the oil and gas industry, consistent with our contractual obligations and applicable law.
“Tullow Ghana does not intend to prejudice the ongoing legal proceedings and therefore no further statements will be issued at this time.”
He said Ghana’s conceptualisation of transition had been on adoption of new technologies, rather than getting involved in innovation to capture the value.
Mr Nero stated the country’s readiness to leverage its natural resources to fund a sustainable transition to a low carbon economy to generate more jobs and improve the general wellbeing of the citizenry.
The transition, he stressed, would help in the diversity of energy supply mix, create opportunities to commercialise the renewable energy credit, improve air quality and health and contribute to the reduction of cost of energy in the long term.
He said highlights of the Committee engagement with the stakeholders include securing a stable-based load, energy efficiency, enhancing clean technology through research and development and increasing access to LPG (Liquified Petroleum Gas) to reduce dependency on wood fuel.
However, he said the transition would have some impact including potential threat to energy security, reduced funding for fossil related projects and job losses in the fossil fuel industry.
He said the Committee was working to come out with data on the number of jobs to be created and the number of job losses as far as the transition was concerned.MrNero mentioned geopolitical, financial and technological challenges that would be affected as a result of the transition, calling on the stakeholders to address the bottlenecks for smooth transition.
“Fromprogrammes.2010todate, Tullow Ghana has awarded over 4,000 contracts to indigenous companies, in addition to almost 3,000 contracts awarded to joint venture companies which includes indigenous participation. Out of the total contracts awarded valued at $16.83 billion between 2010 and 2021, $11.24 billion worth of those contracts were awarded with local Ghanaian participation.
Ms Nafi Chinery, West Africa Regional Manager, NRGI,
decarbonization must be at the forefront of business and government agendas, stressing that the COP26 Climate Conference 2021 provided a forum for governments to reaffirm their commitment to limiting global warming to 1.5 C. These commitments, he stated, required adjustments and unpreceded shifts away from fossil fuels to renewable energy sources like wind and solar and provision of clean, affordable and reliable
The Adom Group is an epitome of excellence, innovation, leadership and a trail blazer in every industry they enter. Be on the watch out for the Adom City Home Completion Policy – this gives the public the opportunity to hand over their uncompleted building projects to Adom City Estate to be completed for them while they pay back over a period of time by instalment to Adom City Estate. Last but not least is the Adom City Mobile App which will soon be available in Google PlayStore and AppleStores for free download. Call our Call center number for more information.
etiquette and our quality control script.”The platform operates from 18GMT (6am) to 22GMT (10pm) however, we have programmed artificial intelligence to handle queries and frequently asked questions between 10pm and 6 am. You can access these bots on our Facebook and Instagram platforms as well as on our website.Thecall centre is ADOM Group’s way of entrenching its strong beliefs in customer service and customer satisfaction. We hope to serve you better. Call us to on +233308250068. It is the first of its kind in Ghana and West Africa in the real estate industry.
Thiscentre.innovation is timely as the dynamics of business operations have changed in recent times due to the advent of the aforementioned pandemic.
By Daniel Kontie
WEDNESDAY, SEPTEMBER 14, 2022| NEWS6
Adom City Estate, a proud member of the Adom Group of Companies, is the leading affordable Housing Real Estate Developer in Ghana.
contribute to closing the over 1.8million estimated housing deficit in Ghana.
The centre is not only a call centre but a CONTACT CENTRE. This is because the platform is
Adom City Estate launches call centre
The company prides itself in this having won the Ghana Property Awards for 5 consecutive times as the best real company of the year sinceSince2015.inception in 2009, Adom City Estate has built over 2,000 housing units putting shelter over the heads of many Ghanaians including multi-nationals.
“With this system we don’t just rely on only phone calls but we can communicate using Live Chat, WhatsApp messages, SMS and Skype conferencing. All this from a single client portal so there is no switching between apps. You have the options to choose from web, desktop and mobile channels.”Theplatform is seamless to use as it provides a 360 professional customer service experience with no“Ourstress.call centre professionals are trained with basic call centre
accelerated for business growth solution and customer service.
Driven by this passion coupled with the advent of the novel COVID-19 pandemic leading to a dramatic change in the operations of businesses across all industries, Adom City Estate launched this call
The aim of the company is not just to build, sell and rakein revenue but to a large extent,
Otherwise, outsider settlement, agricultural expansion, industrial extraction, desertification, and disease will continue to sever our historic bonds to the lands we live on.Governments must commit to managing land more sustainably. The 30x30 plan to protect 30% of the world’s land and sea by the end of this decade is a good idea, provided that it is pursued in close partnership with indigenous peoples and local communities. That means ensuring full inclusion, recognition of our land rights, and our free, prior, and informed consent. We need to be fully represented at the table when new agreements are struck, and when projects to protect and restore ecosystems are being designed.Tocarry out this vital mission, we also need access to funding. The Community Land Rights and Conservation Finance Initiative, which focuses squarely on the intersection of land-tenure rights and community-led conservation, is a good start. CLARIFI fills a key gap by channeling funds directly
By Hindou Ibrahim
If the world commits to investing in indigenous peoples, we can then take it from there. With sufficient funding on the ground – not just on paper and in speeches – we can do more than anyone else to protect nature and preserve the world’s biodiversity.
But while we welcome world leaders’ growing recognition of indigenous knowledge and practices, fulfilling our stewardship role requires more than approbation. To continue serving as the natural world’s most effective guardians, we need the right to own – and thus to remain on and continue to manage – our ancestral lands.
Science has long confirmed indigenous peoples’ unique contributions to Earth’s well-being. In 2019, the Intergovernmental Panel on Climate Change stressed that indigenous knowledge is critical to managing global warming and itsTheeffects.Intergovernmental SciencePolicy Platform on Biodiversity and Ecosystem Services reached the same conclusion with respect to preserving biodiversity. In a follow-up report this year, IPBES further emphasized the importance of indigenous people’s contributions to global
With indigenous peoples being relentlessly displaced – often violently – from territory that we have always called home, landtenure reform and secure land rights have become absolutely crucial.
WEDNESDAY, SEPTEMBER 14, 2022 | FEATURE 7
to indigenous and communityled initiatives. It aims to raise $10 billion by 2030, and to expand legally recognized indigenous territories by 400 million hectares. This is crucial to curbing deforestation, climate change, and biodiversity loss. The goal is to increase these communities’ legal land ownership to at least 50% of all tropical forests.
Even though finalizing the Global Biodiversity Framework is crucial to prevent wholesale ecosystem collapse, the process has run into delays, disagreements, and reluctance by key parties. World leaders must rise to the occasion and secure an agreement that fully recognizes indigenous peoples’ and local communities’ unique contributions.
conservation.Theworld’sgrowing recognition of indigenous knowledge was also reflected at the UN Climate Change Conference (COP26) in Glasgow last year, when several countries and private donors pledged $1.7 billion to support indigenous peoples and local communities’ conservation and climate-advocacy efforts. It was an unprecedented commitment to a far-flung but increasingly united population.
The best way to preserve nature is also the fairest
– carbon-dense ecosystems that account for 80% of global biodiversity – are found on indigenous lands.
This is no accident. For indigenous peoples, land is everything. It is the source of our food, shelter, and medicine, and the wellspring of our culture and history. Over countless generations, we have learned to live well on our land. We know how to protect it, how to restore it, and how to serve as its engineers and nurturers, not its destroyers.
Maintenance, Power generation and Fertilizers plants. He is multilingual, being fluent in French, English and Spanish –an attribute that is expected to further propel diversity at Egbin Power which has employees from different nationalities.
The Board of Egbin Power Plc has announced the appointment of Mokhtar Bounour as Chief Executive Officer of the foremost privately run thermal plant in subSaharan Africa that powers over 20 million homes and businesses.
Kaizen initiative by enhancing sustainable agribusiness. The Project will introduce the UNIDO Digital Dashboard System “Smart and Sustainable Agri-Business (SSAB)”, enabling Ghanaian MSMEs to visualize and hence better manage their enterprise performance through a smart
In a bid to support Ghana to scale up its National Kaizen Initiative, UNIDO launched the Project for Expanding the
Egbin Power appoints Bounour CEO to drive transformation, energy transition
would also lead plant optimisation strategies and spearhead the company’s Emissions Reduction and Resource Efficiency targets.
Bounour’s appointment, the Board said, would accelerate Egbin’s ongoing transformation and propel the company’s energy mix transition towards enhanced environmental sustainability.
He has worked in Europe for the better part of his career, and prior to joining Egbin Power Plc, Bounour led Fertiberia Spain as CEO of Fertial and thereafter, became Business Development Director for Africa, Middle East andWithTurkey.24 years of experience across Africa, Europe and Middle-East, Bounour has led multi-functional teams in EPC construction, Operations and
(MSMEs) in the country. The Project would also provide support to the recently launched Business Resource Centres (BRCs) established across the country.
Since 2012, Ghana has promoted Kaizen practices – a Japanese methodology and philosophy to sustainably and continually improve quality and productivity of businesses. Hundreds of Ghanaian enterprises have been introduced to the Kaizen Principles and they have suceeded in the application and subsequent improvement in their quality and productivity.Toenhance the developmental impact at industry and national levels, Ghana will scale up this initiative, to further enhance the competitiveness of Micro, Small and Medium Enterprises
His experience cuts across setting strategic direction for revamping, rehabilitation and management of change, contracts management, formulation, integration and auditing with implementation of effective customer coordination.
Adesina stated that Bounour
A Sahara Power Group Company, Egbin’s turnaround has trebled from a generation threshold of about 300mw when it was acquired in 2013 to almost 1000mw, following fresh investment in overhauls, technology and human capital. The company has also achieved 670,000kg of CO2 emission eliminated by reducing fossil energy consumption, 14.1% reduction in Energy Intensity of electrical energy, and over 1000 trees planted to safeguard the environment.“Withaninstalled capacity of 1320MW, our plan is to expand Egbin’s capacity using a mix of alternative clean energy sources.
Speaking on his appointment, Bounour said he was delighted at the opportunity to steer the future of the “iconic African power plant”, noting that his interactions with the Board indicate that “the future holds a firm promise of unparalleled growth and sustained world-class performance in Egbin.”
The United Nations Industrial Development Organization (UNIDO) and the Ministry of Trade and Industry (MOTI) signed an agreement to scale-up Ghana’s national initiatives on Micro, Small and Medium Enterprises (MSMEs) promotion.TheProject is aligned to the Government of Ghana’s Industrial Transformation Agenda as well as the National MSME and Entrepreneurship Policy.
and digital Platform. By collecting key performance indicators from the production site, SSAB will not only address productivity issues, but will also improve resource efficiency, food safety compliance as well as performnce of the MSMEs from a social perspective.
This 3-Year Project will be implemented by UNIDO in collaboration with the Ghana Enterprises Agency (GEA), with funding from the Japanese Government. The launching ceremony was hosted by the Minister for Trade and Industry, Hon. Alan John Kwadwo Kyerematen, and attended by the Japanese Ambassador to Ghana, Hisanobu Mochizuki, UNIDO Representative to Ghana and Liberia, Fakhruddin Azizi, CEO of GEA, Kosi Yankey-Ayeh, Directors of MoTI and GEA, and other stakeholders.
Bounour holds a Bachelor’s degree in Electrical Engineering, a Masters Degree in Management and Leadership, Business Administration and International
We are delighted to have Mokhtar join us to sustain our continuing transformation programme and our commitment to bringing more energy to life responsibly, “said Kola Adesina, Group Managing Director, Sahara Power Group.
GHANA, UNIDO sign agreement to scale up national initiatives on MSMES promotion
WEDNESDAY, SEPTEMBER 14, 20228 | NEWS
Others include, sales, business development projects, engineering and turn over acceptance policies, procedures and systems management for organizations.Egbin’s clean energy commitment manifests in several decarbonising projects, including enabling its employees to contribute to carbon-emission reduction through daily commuting on the company’s electric buggies, bicycles and scooters, leaving employees healthier and the environment cleaner.
Enterprise Business Unit and Wholesale at Vodafone Ghana, Tawa Bolarin said, “SMEs are the engine of growth for most economies, Ghana included. Vodafone Business is strategically positioned to be the propeller for the growth of SMEs. The impact we have made on this journey has been phenomenal for us as a business, as well as the organisations we have touched over the ‘’Similaryears.”toprevious years, we are offering free products and services that SMEs can take advantage of. I am particularly excited about the many initiatives we have put in place this month to develop, transform and help businesses on their digitalisation journey. These include FREE website development for 20 businesses, training for 10 businesses, 50% discount on bills for 10 Vodafone Business customers and more. I am inviting all SMEs to take part in this year’s Vodafone Business SME Month. Let’s Grow Further Together,” she concluded.
The fifth-generation luxury SUV takes Land Rover’s modernist design philosophy to the next level with a contemporary interpretation of its trademark profile to create an incredible design statement.
AN automobile manufacturer, Land Rover, has demonstrated its supremacy in the global automobile industry as it unveiled the 2023 Range Rover model in the country.
SMEs applaud Vodafone Business for introducing innovative solutions
A Manager at Alliance Motors Ghana Limited, Sunita Kaul, said the introduction of the new model into the market will allow customers an option to trade in their old range rover vogues for the newer model via sales“Weprocess.areindeed excited for this new chapter and hope rental companies, customers and Jaguar Land Rover enthusiasts take full advantage of this opportunity,” he said.
WEDNESDAY, SEPTEMBER 14, 2022 | NEWS 9
Business has helped them gain visibility.Hesaid: “Working with Vodafone Business has created visibility for our line of products called ‘Nutritious Healthy Bites’. This is because of initiatives such as capacity-building and digital presence support. We are very happy that they intend to build websites for selected businesses for free this month, too. I believe that this will help my outfit to remain competitive, profitable, and relevant now and beyond”.
“We are thrilled to unveil the new Range Rover in Ghana as a first opportunity for our clients and luxury enthusiasts to experience the vehicle’s peerless character, from the impeccable restraint of its exterior to the flawless tranquil sanctuary of its cabin.“Informed by creative intellect and a desire for perfection, it doesn’t follow fashion or trend, but a modernist design philosophy, combined with over 50 years of evolution, it is quite simply the most desirable Range Rover ever created,” he said.
Ghana’s leading enterprise communications provider, has been commended for its innovative products and solutions that are helping businesses grow succeed and thrive in this digital world.Sharing their experiences at the Vodafone SME Month 2022 launch, themed “Further Together”, several SMEs praised Vodafone Business for introducing innovative solutions that have helped them to transform their businesses and become more digital over the years.
The Chief Executive Officer (CEO) of Jaguar Land Rover, Thierry Bolloré, said the new Range Rover was a superb manifestation of the manufacturer’s vision to create the world’s most desirable luxury vehicles, for the most discerning of customers.“Itwrites the next chapter in the unique story of pioneering innovation that has been a Range Rover hallmark for more than 50 years,” he said.
According to the Deputy Manager of Qwexdjoa Enterprise, Frederick Owusu, Vodafone
Seen for the first time in Ghana, the new Range Rover is the most desirable yet, effortlessly combining breathtaking modernity and aesthetic grace with technological sophistication and seamless connectivity – with space for up to seven adults for the first time.
Rover’s peerless presence.
It represents the next step in Land Rover’s simplified architecture strategy as part of the move to deliver greater powertrain flexibility and set new quality benchmarks.
Vodafone’s service is very reliable, always available and strong. Their customer service is always ready to listen to our challenges and assist. I urge all companies to use their internet, especially in these times when new technologies are changing theClaudiaworld”.Obeng, a representative from Nsoroma GPS, a premier vehicle and fleet management service in Ghana, added that Vodafone has helped them to retrieve several stolen cars because of its cost-efficient packages.“Wehave been in Ghana for over 15 years and Vodafone has been an excellent partner. Vodafone has created cost-efficient packages for us and it has really helped us a lot. Thanks to them, we have been able to retrieve several stolen vehicles. This has boosted our business image over the years. We really appreciate Vodafone”. Commenting, Director for the
Malaika Akorsah from Cenpower Generation Company Limited also“Wesaid:have used Vodafone for the past seven years and they have
been a tremendous help to us. We use both their dedicated internet and their call services.
The 2023 Range Rover is the first model to use Land Rover’s new flexible Modular Longitudinal Architecture (MLA-Flex) which can accommodate internal combustion, plug-in hybrid and 100 per cent electric powertrains.
The General Sales Manager at Land Rover Ghana, Fawaz Baitie, at the unveiling ceremony in Accra on September 8, observed that Range Rover was the original luxury SUV and has led by example for 50 years, combining serene comfort and composure with all-conquering capability.Hesaid the new Range Rover was defined by three lines that can trace their origins back through the generations; the falling roofline, strong waistline and rising sill line. He said these trademark features combine with a characteristically short front overhang and a distinctive new boat tail rear complete with practical split tailgate to create an elegant profile that conveys Range
The manager stated that flush elements and tight tolerances were a hallmark of the new Range Rover and design-enabling technologies contribute to its sophisticated honedfrom-solid appearance, including flush glazing, a hidden waist rail
only a quarter of the CO2.
The sleek 2023 Range Rover unveiled
finisher and seamless laser-welded roofAccordingjoints. to him, the distinctive hidden-until-lit rear lights are also critical to the success of the design and will become a Range Rover signature.Hesaid sustainability extends beyond the choice of efficient powertrains, with innovative materials and processes combining to reduce the environmental impact of producing and driving the New RangeTheseRover.include a Kvadrat™ remix wool blend fabric that will be offered as a leather-free interior option. Its wool blend is warm and cosseting, making it the perfect cloth to accompany the technical Ultrafabrics™ material, which has all the tactile qualities of leather but is 30 per cent lighter and generates
WEDNESDAY, SEPTEMBER 14, 202210 | FEATURE
A stunningly large 7.6-inch Dynamic AMOLED display opens up the space you need to multitask like a pro, with apps optimized for the large-screen experience in order to help you unleash increased functionality anywhere you go. Furthermore,
the intuitive new Taskbar gives you access to your favourite apps with just a swipe, providing you with smarter ways to multitask whether you’re switching fullscreen apps through App Pair or viewing multiple windows at once.When it’s time for fun, Z Fold4’s vivid, edge-to-edge screen with minimized bezels and a camera hidden under the display provides you with distraction-free viewing of your favourite movies and games — bright enough for outdoor use even on sunny days. Check out the infographic
below to see why the Samsung’s most powerful smartphone yet, Z Fold4, is a true multitasking powerhouse.Bothdevices will also be accessible from network operators and independent dealers across the country. Customers who have pre-ordered the Flip4 will get [one complimentary year of Samsung Care+, delivering protection against drops or cracked screens with Samsung expert support in 51 countries , Galaxy Buds2, a Clear Cover with Ring and customers will also enjoy 3 months of adfree music listening with Spotify
WEDNESDAY, SEPTEMBER 14, 2022 11| NEWS
A genre-bending powerhouse of a device and the newest in Samsung Electronics’ foldable lineup, Galaxy Z Fold4 pushes the boundaries of smartphone possibilities with a larger, more immersive display that unfolds optimized mobile experiences and PC-like multitasking.
Premium.Customers who have preordered the Fold4 will get one complimentary year of Samsung Care+, delivering protection against drops or cracked screens with Samsung expert support in 51 countries , Galaxy Buds2, a Standing Cover with S Pen for Galaxy Fold4 and customers will also enjoy 3 months of adfree music listening with Spotify Premium. A whole new Galaxy of exciting options is unfolding right before you, and now available in participating retailers and Samsung stores.
Galaxy Z Fold4 launches in Ghana: The multitasking powerhouse built to enhance your productivity
The Welder or Welding Operator must pass a welder performance qualification test to international standards as Structural Welder, Pipe Welder, Pipe Fitter or Welder Fabricator with the skills for using SMAW, GMAW, FCAW or GTAW processes or a combination of theseAdditionalprocesses.demands are for materials qualified: carbon steels, low alloy/high alloy carbon steels, stainless steels, copper- nickel, aluminum, titanium, incoloy, inconel etc. QUALITY CONTROL/ QUALITY ASSURANCE Personnel trained, qualified and certified as a Welding Inspector, Welding Engineer, Welding Coordinator, Welding Technician or Supervisor with expert knowledge in the Welding Processes, Metallurgy, Codes, Standards, Specifications, Procedures, Welder Qualifications, destructive and non-destructive testing are required to offer inspection services before, during and after welding ensuring project is executed according to agreed procedures.
3. Quality Manager- Shall be responsible for maintaining the quality management system and documentation on a regular basis for the ATF.
continued on page 13
The benefits include:
CLIENTS – owners of such production facilities – make decisions about which contractor must execute their projects. They are assisted by industry
BUSINESS OPPORTUNITIESEMPLOYMENTAND
2. Facility Manager – the duly designated individual authorized by the ATF to make legally binding commitments and statements on behalf of the ATF.
• the creation of highly skilled employment opportunities for Ghanaian youth placed on a national database
Opportunities Exist for Immediate Employment in the Oil & Gas, Mining, Gas & Power Plant Construction, Ship Yard & Dry Dock, Bauxite, Manganese, Iron Ore Mining and Processing, Railways, Civil Construction, Highways, Bridges and Welding Education and Training as Entry Welders.Forexample, a POWER PLANT construction contractor may employ over 200 welders for two years or more for a single project and a SHIPYARD AND DRY DOCK facility may employ over 200 welders on a permanent basis.
Employment opportunities in the welding industry
ANDPIPEQUALIFIEDOPPORTUNITIESEMPLOYMENTFORSTRUCTURALANDWELDERS,PIPEFITTERSWELDERFABRICATORS
BENEFITS OF HAVING A NATIONAL DATABASE OF QUALIFIED WELDERS
The oil and gas, fabrication and the general construction industries depend on skilled personnel to employ these processes in the fabrication and installation of their production facilities. The mining industry requires skilled industry personnel for the fabrication, installation, repair and maintenance of mining assets.
A national program for selecting, training and qualifying the Ghanaian youth in welding and placing them on a national database for the attention of Contractors executing national infrastructural projects for employment is long overdue.
The Welding Industry can be defined as the use of science, technology and the application of welding and allied joining and cutting processes including brazing and soldering, thermal spraying and quality in welding workmanship for joining materials. Within the oil and gas, mining, manufacturing, fabrication and the general construction industry - welding is done according to standards, codes, specifications and recommended practices and various processes are employed in the welding industry including Shielded Metal Arc Welding (SMAW), Gas Metal Arc Welding (GMAW), Gas Tungsten Arc Welding (GTAW), Flux Cored Arc Welding (FCAW) – the most commonly employed processes in construction and fabrication
• the bridging of the skills gap in welding and welding related employment opportunities that are being filled by expatriate welders and thus saving foreign exchange
1. Implementation of a quality assurance program that meets the requirements of
WELDER & WELDING OPERATOR QUALIFICATION:
4. Facility Representative – Duly responsible for the direction and implementation of all the requirements defined in the certification specification for the ATF.
bodies that have established procedures for executing such projects –the American Welding Society (AWS), the American Society of Mechanical Engineers (ASME) and the American Petroleum Institute (API) have established requirements for construction of structural works, pressure vessels and piping and cross- country pipeline.
MINING COMPANIES all together may employ over 1,000 welders for the fabrication, erection, maintenance and repair of their mining equipment.
5. Qualifier – Shall conduct the Welder Performance Test in a professional manner and be responsible for the final in-process inspection before, during and after the weld testing process. The qualifier can be an employee of the ATF or contractor. The facility Representative may also be a Qualifier or Facility Manager who is a current Certified Welding Inspector or Senior Certified Welding Inspector.
As a Certified Welding Inspector and Educator (AWSCWI, CWE) I find it a duty to make this information about the Welding Industry known to assist in shaping a comprehensive Welding Industry Action Plan for effective administration of the industry in Ghana.
Such qualified Welders earn a minimum salary of $2,000 (Average annual minimum salary of $24,000). Estimated annual Welder cost for this project will be around $4,800,000 to be paid to expatriate welders because Ghana presently does not have such highly skilled and qualified Pipe Welders suitable for this project.Thisis just one of the numerous infrastructural projects to be carried out possibly starting 2023. Other infrastructural projects that will require the services of such highly skilled welders include: The Railway Expansion Project, the One District One Factory project, The Ghana Ports and Harbors and Tema Shipyard Project.All the Gold, Bauxite, Manganese and Iron Ore Mining Projects Building and Civil Engineering projects including Bridges, Hospitals, Waste Management facilities etc. Power and Gas Plants, Water Treatment plants, Sewerage Treatment plants etc.
WELDING INDUSTRY PERSONNEL QUALIFICATION
The Power and Gas plants –the thermal power plant, gas processing plants, oil refineries, gas pipelines and re-gasification plants construction depend heavily on trained, qualified and certified welding industry personnel for their operations. Such welding industry personnel include: Structural Welder, Pipe Welder, Welder Fabricator, Materials Engineer, Welding Engineer, Robotics Technician, Welding Technician, Business Owner, Salesperson, Structural Iron Worker, Sheet Metal Worker, Under Water Welder, Welding Educator, Metallurgist, Researcher, Welding Inspector, Machine Operators, Pipe Fitters, Boilermakers and many more.
THE WELDING INDUSTRY
OIL AND GAS INDUSTRY construction contractors and service providers may employ over 1,000 welders for their projects and contractors for other infrastructural projects scattered throughout the country may employ more than 1,000 welders. These infrastructural projects include: Railway expansion, One District One Factory, Tank
Welder training, qualification and certification are achieved through the use of the services of an Accredited Testing Facility (ATF) including the following:
Farms, Agricultural Engineering Projects and many more. Currently more than 2,000 highly skilled Structural Welders, Pipe Welders, Pipe Fitters and Welder Fabricators are required to fill the skills gap in welding which are being performed by expatriate welders from Asia, Middle East, Europe and other African countries.Forexample, a pipe line project from Takoradi to Accra and beyond, passing through land, as proposed by Ghana Gas, will require the services of some 200 Welders over a 2-year period.
WELDER EDUCATION & TRAINING
the AWS Standard for the Accreditation of Testing Facilities
ISO BS EN standards are used in many fabrication industries across Europe and Asia. The EEMUA (Engineering Equipment Manufacturers and Users Association) has requirements for the construction of off –shore production facilities – FPSO, suction pile, Christmas trees, etc.
WEDNESDAY, SEPTEMBER 14, 202212 | OPINION/ANALYSIS
Business and employment opportunities exist in the welding industry for Main contractors, SubContractors, Suppliers, Service Providers, Third Party Inspectors, Certification Companies, Testing and Calibration Companies.
– The American Welding Society (AWS) announced today that it commends the objectives of the Trade Adjustment Assistance Community College and Career Training (TAACCCT) round four requests for grant applications.
• possibly making Ghana competitive in the qualified labor employment market through the supply of highly skilled, top-notch welders and welding operators within the sub-region and beyond
“This TAACCCT grant opportunity provides critical resources that could significantly improve education and training capabilities for adults, and has potential to significantly impact the competitiveness of American fabricators and manufacturers,” saidCollegesHarwig.applying for grants and wanting to learn more about AWS programs should contact the AWS.
Welding skills are in high demand in these industries. There are many high paying career pathways that begin with education and training in welding technology.
This round of funding is the final installment of $450 million US Labor Department grants available to expand job-driven training partnerships between community colleges and employers.
AWS has been working closely with several community colleges to understand the challenges that exist between educators and employers to prepare adults for careers in metal fabrication and manufacturing where welding and its allied technologies are critical to American competitiveness.
The AWS Accredited Test Facility (ATF) program requires that a facility implement a quality assurance program that meets the requirements established in the AWS Standard for the Accreditation of Testing Facilities.
FUNDING FOR SUCH WELDER TRAINING AND QUALIFICATION Ghana must provide grant funding for the payment of fees and other stipend for the training and qualification of at least 1,000 such highly skilled welders and place them on a national database, as entry welders, for the attention of ALL Contractors both local and foreign, for employment thereby gradually reducing Ghana’s reliance on expatriate welders for executing national projects. Such highly skilled and qualified welders earn not less than $2,000 a month and could therefore reap the return-on-investment and reduce unemployment. DANEST Welder Training and Testing Center, located in the Takoradi Ghana Highway Authority Yard, has the capacity and expertise to train and qualify 200 Structural Welders, Pipe Welders, Pipe Fitters or Welder fabricators a year in 10 cohorts of 20 each. This Welder Training program is satisfied within the flagship 40-Week, 1,400 Clock Hours, Pathways Structural and Pipe Welding training program offered by DANEST WTTC Takoradi.
Contributor: Ing. Daniel S Kwarkyi PE-GhIE AWS CWI/ CWE #13030021 Managing Director, Danest Engineering Co. Ltd. Subject Matter Expert (SME) – Standards, Accreditation and Conformity Assessment. Facility Manager and Qualifier – Danest WTTC-Takoradi. www. danestweldgh.com daniel@ danestweldgh.com
The Society has also been involved in developing a national core curriculum for technicians through the National Science Foundation Advanced Technological Education Center for Welding Education and Training (Weld-Ed). In addition, AWS has been and continues to, develop personnel qualification standards, education technology and training, and credentialing services for building and bridge fabrications, energy and chemical plants, pipelines, automotive, aerospace, and heavy manufacturing industries.
The AWS Accredited Test Facility (ATF) program establishes minimum requirements for test facilities, their personnel and equipment to qualify for accreditation to test and qualify welders. This program is open to all qualified test facilities that may be a part of an independent laboratory, manufacturing plant, educational institution, or other entity.
• The Technical Universities in Ghana may be required to seek internatio nal accreditation to offer an associate degree in Welding Technology and BSc in Welding Engineering Technology starting with the Structural and Pathways graduates in a faculty of applied technology offering Manufacturing Engineering programs.
“The Ghana National Gas Company (Ghana Gas) has signed a deal with Chinese multinational, Yantai Jereh Group, for the construction of an onshore 278 km natural gas pipeline from the Aboadze enclave in the Western Region to the power enclaves at Tema in the Greater Accra Region” (MyjoyOnline – Economy April 24, 2017) This gas pipeline project would not be the only one in the country that will demand the services of such highly skilled Welders.Manymore, including the Railway expansion, Shipyard and Dry-dock, Oil and Gas facility construction and maintenance, Power Plant etc. Investments in such infrastructural projects must provide thousands of employment opportunities for highly skilled Ghanaians to reduce the unemployment menace and also increase government tax revenue through taxation of such highly paid welding industry personnel.Afacility for training, testing and qualification of such highly skilled welders can be sited in a career college setting anywhere throughout the whole world but must meet the requirements of an American Welding SocietyAccredited Testing Facility.
This skills gap is currently being filled by expatriate welders from Asia and other African nations.
• building the capacity of Ghanaian businesses especially in the steel construction industry for manufacturing, construction, services and supplies
meet specific regional needs, and creating accelerated pathways that recruit more adults into modern metal fabrication careers,” he said.
Facing a shortage of over 216,000 welding industry professionals by 2020, AWS encourages community colleges to develop education, training and qualification capabilities that meet the needs of companies who often struggle to develop their workforce.
The requirements include that the facility have a Quality Manual that controls the activities related to the testing of welders in the facility according to AWS Standard for AWS Certified Welders.
The first cohort of qualified welders to be enrolled on the national database could be realized as early as September 2023, early enough to join the Ghana Gas Pipeline project. Hopefully, this contribution will receive the desired national attention and swift action to empower the Ghanaian youth with the requisite skills in Welding to contribute to our national industrialization agenda.
The United States: “American Welding Society Encourages Community College Welding Programs to Seek TAACCCT Grant Funding MIAMI, Fla., April 21, 2014
“This TAACCCT grant is timely in that the welding education and training infrastructure have evolved to the point where a national system can be developed to provide multiple pathways for adults to enter and grow their career,” said Dennis Harwig, chief technology officer, American Welding“CriticalSociety.needs for this solution include educating and training educators so they understand industry technology requirements, building articulation between community colleges for national core curriculum yet offering a range of advanced electives to
continued from page 12
AWS-ATF REQUIREMENTS CAN BE ADOPTED AND IMPLEMENTED IN GHANA FOR THE QUALIFIFICATION OF WELDERS
WEDNESDAY, SEPTEMBER 14, 2022 13| NEWS
• creating a pool of qualified Structural and Pathways Welders for the pursuit of higher education in Welding Technology and Welding Engineering Technology for employment as Welding Technicians, Technologists and Engineers.
investment requires not less than 2,000 Structural Welders, Pipe Welders, Pipe Fitters and Welder Fabricators qualified to AWS, ASME, API or BS Standards by 2025.
SOME GLOBAL WELDER TRAINING FUNDING ARRANGEMENT
For example, the contract for the construction of a gas pipeline from Takoradi to Tema, as envisaged by Ghana Gas, will definitely be executed by a foreign contractor who would in turn bring in some 300 – 500 expatriate welders for the execution of this project for obvious reasons: NOT ONE QUALIFIED WELDER WITH THE REQUISITE EXPERIENCE FOR SUCH PIPELINE WELDING CAN BE FOUND IN GHANA.
Other countries including India, China, South Africa, the Middle East and other Asian nations have made definite funding arrangements for the training and qualification of Welders, Welding Technicians, Welding Technologists, Welding Engineers and other Welding Industry personnel for their national needs and that of other nations as expatriate Welding Industry personnel. THE GHANA SITUATION AND THE WAY FORWARD. Even though statistics on qualified welder requirements for the Manufacturing, Construction, Services and Supplies industries in Ghana are not readily available, the sheer size of our infrastructural
The facility must also have a CWI on staff or contracted to perform the welder qualification tests.
These indicators are compiled into a single number between 0 and 1.0, with 1.0 being the highest possible human development, with HDI below 0.55 marking a
Human Development Index value is determined by combining a country’s scores with several indicators, mainly life expectancy, literacy rate, and income.
Dr Agyei-Holmes called for enhanced collaborations between the Government, businesses and research institutions to develop innovative warehouses that would keep foodstuff produced in the country.
efforts to address the unequal human progress that had left many behind and said: “Let’s work together to unlock the potential of every Ghanaian to create a sustainable future in the face of uncertainty.”DrLusigi also urged all stakeholders, including the private sector, to support efforts to remove existing structural, cultural and socioeconomic barriers that had blocked progress for young people, women, and people living with disabilities.
quarter of 2022.
Ghana asked to double efforts to improve citizens’ wellbeing
Other indicators include Gross Domestic Product (GDP) per capita, exports and imports, homicide rate, multidimensional poverty index, inequality, and
Angela Lusigi, UNDP Resident Representative in Ghana, said it was important for the country to adopt innovative ways to tackle the interconnected and complex challenges that affected human development.
improving human development.
He also called for road infrastructure development to ease the carting of farm produce from the rural communities to cities, increase manufacturing activities and encourage the consumption of local alternatives for foreign products.
WEDNESDAY, SEPTEMBER 14, 202214 | NEWS
Ghana needs to double efforts to improve access to education, long and healthy life, and decent income, which are the indices for measuring its human development.Thecountry saw no improvement in a year, keeping its Human Development Index (HDI) value of 0.62 for 2020 in 2021, positioning it at 133 out of 191 countries and territories. This is stated in the United Nations Development Programme (UNDP) human development report, which puts Ghana in the medium human development category.This implies that the West African country with a population of 32.8 million is one of the countries with widespread poverty, low life expectancies, coupled with high birth rates, and poor education while access to healthcare is still a challenge.
He noted that: “Among persons in the labour force (15 years and older) about 380,000 are simultaneously food insecure, multidimensionally poor, and unemployed.”MrAdzovor asked the Government to utilise data and recommendations from the Statistical Service, develop and implement policies that would increase investment for social protection and build people’s ability for a prosperous Ghana.
The UNDP Rep encouraged the country to put in place measures to spur investment, insurance and innovation, noting that, “it will go a long way in helping people navigate and thrive amid complex uncertainties.”MrPatrick Adzovor, Senior Staff Statistician, Ghana Statistical Service (GSS), who spoke on poverty, noted that many
Dr Andrew Agyei-Holmes of the Institute of Statistical, Social and Economic Research (ISSER), noted that youth unemployment in the country had increased rapidly, amid reduction in resources and high Government expenditure.Hesaidthe high unemployment had forced many youths into illegal mining (galamsey), and was
pandemic.Withthis trajectory, it would be difficult if not impossible for anyone to have presumed Adom City Estate would not have won that of 2020 and 2021 if awards wereThisheld.award in particular as the most innovative Real Estate Company of the Year could not have come as a surprise because the Adom brand have been so resilient and became the centre of attraction by virtue
Adom City Estate wins Innovative Real Estate Company of The Year at National Business Honors
Awards could not hold for Ghana Property Awards 2020 and 2021 because of novel COVID-19
of the contemporary touch we give to designing and building of our houses as well as the quality we deliver taking into cognizance the taste, preferences and affordability of clients and prospective clients of our generation and for posterity at large.Just 7 days after this award was won, another profound innovation of its kind in Ghana and West Africa at large in the Real Estate industry, the launch of
By economic principle of demand and supply, the real estate industry attracted a lot of investment.This witnessed an unprecedented entry into the industry with little or no regulatory authority.
By Daniel Kontie
These awards include: Best Developer, Mass Social Housing – African Property Awards, 2021 –2022, 5times consecutive winner, Residential Developer of the year – Mass Housing Category from 2015 to 2019, Residential Developer of the year - Low Income Housing Category – Ghana Business Standards Awards 2021, Residential Developer of the year, Mass Housing Category – Ghana Business Standards Awards 2019, Real Estate Company of the year, CENBA AFRICA Business Excellence Awards, 2019, 1st Runner-up, Mass Social Housing - Africa Property Investment Summit and Awards, 2017 and last but most recent is the Ghana Business Honors Awards – The most Innovative Real Estate Company of the Year, 2022.
the Adom Group Call Centre.
The demand for housing in Ghana has been a subject of national discourse as a state since independence with an everincreasing widening of the deficit over the years till now.
WEDNESDAY, SEPTEMBER 14, 2022 15| NEWS
The good news however is that, there are a few in the industry that stood the test of time in terms of sustainability, excellence and integrity.Adom City Estate, a proud member of the Adom Group of Companies stands tall in this regard. This is not by accolades as we have proofs of both national and international recognition by way of awards coupled with an unprecedented client satisfaction testimonial in Ghana and beyond as well as the general public admiration of the Adom brand.
The Adom Group Call Centre is a 24/7 call centre that affords clients and prospective clients across the globe the opportunity to call in anytime GMT for immediate attention to their queries and all other concerns. Be on the watch out in the next few weeks for another ground breaking innovation, the Adom Group Mobile App downloadable from Google PlayStore.
The situation led to several scams over the years as many citizens fell victims after paying their hard-earned money to some of these developers only to have their money squandered without having their houses delivered to them.Worst of it all was the high level of impunity of perpetrators which led to a little or no trust at all in the industry.
WEDNESDAY, SEPTEMBER 14, 202216 | NEWS
WEDNESDAY, SEPTEMBER 14, 2022 17| FEATURE
End Period Inflation Target – 2022 28.5%
STOCK MARKET REVIEW
Debt to GDP Ratio – Dec, 2021 78.3%
The Cedi again weakened against the Euro for the week. It traded at GH¢8.3020/€, compared with GH¢8.2563/€ at week open, reflecting w/w and YTD depreciations of 0.55% and 17.75% respectively. This compares with YTD appreciation of 1.98% a year ago.
Average GDP Growth for 2021 3.3%
2022 Budget Deficit Target (%GDP) 6.6%
The Ghana Stock Exchange closed lower for the week on the back of price declines by 2 counters. The GSE Composite Index (GSE CI) lost 0.60 points (-0.02%) to close at 2,508.39 points, reflecting year-to-date (YTD) loss of 10.07%. The GSE Financial Stocks Index (GSE FI) also lost 1.09 points (-0.05%) to close at 2,078.85 points, reflecting YTD loss of 3.39%.
The Cedi further weakened against the Canadian Dollar for the week. It opened at GH¢6.2903/C$ but closed at GH¢6.3360/C$, reflecting w/w and YTD depreciations of 0.72% and 25.16% respectively. This compares with YTD depreciation of 2.26% a year ago.
MACROECONOMIC INDICATORS
Inflation for February, 2022 31.7%
Public Debt (billion GH¢) – Dec, 2021 393.4%
MTN dominated volume of trades for the week, accounting for 47.85%, whiles GCB dominated value of trades for the week, accounting for 44.08% of value of shares traded.
Q3, 2021 GDP Growth 3.3%
2022 Projected GDP Growth 3.7%
The Cedi continued its downward trend against the USD for the week. It traded at GH¢8.2565/$, compared with GH¢8.2335$ at week open, reflecting w/w and YTD depreciations of 0.28% and 27.26% respectively. This compares with YTD depreciation of 1.64% a year ago.The Cedi also depreciated against the GBP for the week. It traded at GH¢9.5759/£, compared with GH¢9.5365/£ at week open, reflecting w/w and YTD depreciations of 0.41% and 15.13% respectively. This compares with YTD depreciation of 2.90% a year ago.
Trading activity recorded a total of 3,682,515 shares valued at GH¢4,953,397.14 changing hands, compared with 1,944,061 shares, valued at GH¢1,679,680.70 in the preceding week.
Market capitalization declined by 0.01% to close the week at GH¢64,482.54 million, from GH¢64,487.10 million at the close of the previous week. This reflects YTD decrease of 0.02%.
WEDNESDAY, SEPTEMBER 14, 202218 | MARKET REVIEW
The market ended the week with no advancer and 2 decliners as indicated on the table below.
WEEKLY MARKET REVIEW FOR WEEK ENDING - SEPTEMBER 9, 2022
Weekly Interbank Interest Rate 21.99%
Budget Deficit (% GDP) – Dec, 2021 5.0%
BoG Policy Rate 22.0%
THE CURRENCY MARKET
INTERNTIONALMARKETCOMMODITIES
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.
Name: Ernest Tel:+233Email:etannor@cidaninvestments.comTannor(0)208818957
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
WEDNESDAY, SEPTEMBER 14, 2022 19| MARKET REVIEW
Name: Moses Nana Osei-Yeboah Tel:+233Email:moyeboah@cidaninvestments.com(0)244990069
Government raised a sum of GH¢2,226.45 million for the week across the 91-Day and 182-Day Treasury Bills. This compared with GH¢1,776.55 million raised in the previous week.
Disclaimer
COMMODITY
Source: revolvingcredit.asphttps://www.investopedia.com/terms/r/
GOVERNMENT SECURITIES MARKET
PRICES
Name: Audrey Asiedua Wiafe Tel:+233Email:aaudrey@cidaninvestments.com(0)578402700
Gold prices inched higher, retaining mild gains from last week as the dollar fell further from 20-year highs ahead of the publishing of key U.S. inflation data. Gold settled at US$1,728.60, from US$1,722.60 last week, reflecting w/w gain and YTD loss of 0.35% and 5.47% respectively.PricesofCocoa declined for the week. The commodity traded at US$2,360.00 per tonne on Friday, from US$2,430.00 last week, reflecting w/w and YTD loss of 2.88% and 6.35% respectively.
Limited
BUSINESS TERM OF THE WEEK
Revolving Credit: Revolving credit is an agreement that permits an account holder to borrow money repeatedly up to a set dollar limit while repaying a portion of the current balance due in regular payments. Each payment, minus the interest and fees charged, replenishes the amount available to the account holder.
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The 91-Day Bill settled at 29.48% p.a from 29.05% p.a. last week whilst the 182-Day Bill settled at 31.05% p.a from 30.23% p.a. last week. The table and graph below highlight primary market yields at close of the week.
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CIDAN Investments Limited is an investment and fund management company licensed by the Securities & Exchange Commission (SEC) and the National Pensions Regulatory Authority (NPRA).
Crude Oil prices edged lower on the week as traders gauged concerns over slowing demand and U.S.-led price caps on Russian crude exports. Brent futures traded at US$92.84 a barrel on Friday, compared to US$93.02 at week open. This reflects w/w loss and YTD gain of 0.19% and 19.36% respectively.
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“The skills that the ladies are developing place them in the upper tier of women in the employment fields, and those skills are so carefully crafted to give them the ability to develop opportunities for themselves and others, which is critical because they are then looking at more than just being employed by someone, but those skills increase their ability to improve on themselves as well as add value to their lives,” sheRegionalsaid Talent Acquisition Manager at Nestle Central and West Africa (CWAR), Joyceline Quansah, who was also a judge, lauded Think3ice and Finex Skills Hub and stressed the need for industry players to support the initiative.“Because these students have
extraordinary. I believe this programme to be excellent and one that should absolutely be promoted. This programme will have a significant ripple effect, which is what you want to see with every opportunity,” she said.
TEL: 030 296 5297, 030 296 5315.editor@business24.com.gh | +233 545 516 133.
The ceremony which came off on Saturday, September 10, 2022, at the Cedi Conference Centre at the University of Ghana saw 22 girls who received hands-on training in data analytics with special focus on Microsoft Excel and Appsheet graduate with certificates of participation and opportunities for internships in reputable institutions.
On her part, CEO of Think3ice, Mrs Yvonne Dzotsi, applauded the students for their hard work, consistency, and perseverance throughout the 10-week training. She noted that the reason for initiating an all- girl training programme was to address the gender imbalance in the data analytics world, as well as present to society, young innovative girls whose skills would contribute significantly to the nation’s growth.The ‘Excel Our Girls’ programme was made possible through sponsorship by a group of forward-thinking individuals and companies. You can also invest in the future of our girls today and be part of changing the
Think3ice, in collaboration with Finex Skills Hub—two institutions that focus on providing hands-on training for people on relevant technological skills—hosted a graduation ceremony for the ‘Excel our Girls’ programme’s second cohort of students.
After the 10 weeks, the students were placed in groups, where they were challenged to come up with workable projects that were judged by a panel of experts.
their various professions more proficient, the learned abilities acquired by the participants will also expand their prospects in the world of work.
Dean of the University of Ghana Business School (UGBS), Professor Justice Bawole, a special guest of honour, noted that even though the UGBS has made significant strides toward putting innovative programmes in place to adequately equip students, some courses are still excluded due to the current academic calendar situation, necessitating the need for the training to assist in bridging the gap between academia and industry.
‘Excel Our Girls’ programme graduates 22 girls in data analytics …as Think3ice, Finex Skills Hub partnership deepens
WWW.BUSINESS24.COM.GH | NO. B24/317 | NEWS FOR BUSINESS LEADERS WEDNESDAY, SEPTEMBER 14, 2022
The 22 girls were tasked with designing tailor-made apps that addressed and solved specific everyday problems by offering tailored solutions. The 10-week intensive programme featured online classroom meetings to teach and discuss topics and assignments, as well as weekly physical workshops where participants applied learning tips learnt during the week.
Business Development Consultant, Afia Appiah, who
“While our curriculum is intended to provide students with the technical abilities in critical subject areas, we still need to do more in terms of transferable, social, and employability skills in addition to IT.”