Silver Star says no longer Mercedes-Benze dealer, seeks redress in court MONDAY, SEPTEMBER 19, 2022 Market Presence Through New Agreement board retreat to discuss improvementmeasuresstrategicfortheof specified entities
“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.
to make a case with MercedesBenz in Germany without luck, all appeals failed to have produce any response from them leaving us no choice but to seek redress from the courts, the local dealer said.Itadded that “We bring to your attention some very important updates. Thanks to your patronage, custom and support, Silver Star Auto Limited (SSAL) has been serving the Ghana automotive market, becoming a household name for being the local dealer for Mercedes-Benz for 25 years.”
In the meantime, management of Silver Star Auto said it has been expanding the horizons with several new and exciting brands for our market.
Ghanaian auto dealer Silver Star Auto Limited (SSAL) says it is no longer the authorized MercedesBenz dealer, after 25 years of selling the German-made vehicle to consumers in Ghana.
Aside the enviro-friendly outcomes, there is proven economic potential in the green economy, specifically the horticultural value chain.
2 | THEBUSINESS24ONLINE.COM News/Editorial Your subscription along with the support of businesses that advertise in Business24 -- makes an investment in journalism that is essential to keep the business community in Ghana wellWeinformed.value your support and loyalty. +233AdvertisingNewsroom:editor@business24.com.ghContact:0302965315/Sales:242122742 Copyright @ 2019 Business24 Limited. All Rights Reserved. Limited
By Benson Afful
We have tried our level best
Silver Star says no longer MercedesBenze dealer, seeks redress in court
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.
control and in spite of the last two years being the best years for SAL and Mercedes-Benz both for strong and sustained growth, as well as leading the market share by far in Ghana for luxury vehicles, the German auto-maker has without direct or indirect engagement, decided to select a new dealer for Ghana opting instead to appoint a multinational company in Ghana that also will be their dealer in several other West African countries.
Horticulture fast becoming the new job-making machine
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.
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.
Stratcomm Africa is leading the charge to green
It said due to change of circumstances beyond their
Ghana for the varied purposes of beautification, wealth and job creation as well as a sustainable fight against climate change.
According to Silver Star, after becoming a household name for being the local dealer for Mercedes-Benz for 25 years, Mercedes-Benz in Germany has “without direct or indirect engagement, decided to select a new dealer for Ghana opting instead to appoint a multinational company in Ghana that also will be their dealer in several other West African countries.”
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.
for Specified Entities, and will work hand in hand with the relevant Authorities to guarantee the profitability of the institutions they lead”.
This agreement will also give the loyalty program members of
Sir Tim Clark, President Emirates Airline said: “Two of the biggest, and best-known airlines in the world are joining hands to fly people better to more places, at a time when travel demand is rebounding with a vengeance. It’s a significant partnership that will unlock tremendous consumer benefit and bring the United Arab Emirates and the United States even closer. We welcome United’s return to Dubai next year, where our hub Dubai essentially
The Board Chairperson of SIGA, Mr. Terrence Darko together with Mr. Felix Ntrakwah, led this retreat. The Minister for Public Enterprises, some members of the Parliamentary Select Committee on Employment Social Welfare and Public Enterprises together with senior executives from the Ministry of Finance also joined theAmbassadorretreat. Edward Boateng, Director-General of SIGA, shared some measures the Authority outlined in the past few months to ensure efficiency and compliance.“AstheAuthority mandated by law to ensure good corporate governance and the efficiency of Specified Entities, SIGA will continue to engage all stakeholders relevant to the
becomes a gateway for United to reach Asia, Africa and the Middle East via the combined network of Emirates and flydubai. We
“The Board, Management and Staff of SIGA remain committed to realising a turnaround story
Emirates, United Expand Market Presence Through New Agreement
Eligible customers travelling on codeshare flights will also soon enjoy access to Emirates and United lounges. More details on frequent flyer awards and lounge sharing benefits will be communicated in the coming weeks.Both airlines have recently announced significant investments in the customer experience. Emirates will retrofit more than 120 aircraft as part of a $2 billion effort that includes elevated meal choices, a brandnew vegan menu, a ‘cinema in the sky’ experience, cabin interior upgrades, and sustainable choices. At United, the airline will add 500 new Boeing and Airbus aircraft to its fleet with a focus on a new signature interior that includes seat-back screens in every seat, larger overhead bins, Bluetooth connectivity throughout, and the industry’s fastest available in-flight WiFi.
look forward to developing our partnership with United for the longScottterm.”Kirby, CEO of United Airlines said: “This agreement unites two iconic, flag carrier airlines who share a common commitment to creating the best customer experience in the skies.
The three-day retreat commenced on September 8, 2022, and discussed amongst others, issues raised in the Auditor-General’s report and recommendations for specified entities to improve their adherence to good corporate governance practices.
both airlines more opportunities for more rewards: Emirates Skywards members can soon earn miles when they travel on United operated flights, and United Mileage Plus members flying on United’s New York/ Newark to Dubai flight will be able to earn and redeem miles when connecting beyond on Emirates and flydubai.
Emirates and United has announced a historic commercial agreement that will enhance each airline’s network and give their customers easier access to hundreds of new destinations within the United States and around the world.
United’s new flight to Dubai and our complementary networks will make global travel easier for millions of our customers, helping boost local economies and strengthen cultural ties. This is a proud moment for both United and Emirates employees, and I look forward to our journey together.”Customers of both airlines can soon book these connecting flights on a single ticket – making check-in and luggage transfer faster and easier. For example – travelers will be able to visit United.com or use the United app to book a flight from New York/Newark to Karachi, Pakistan or go to Emirates. com to book a flight from Dubai to Atlanta or Honolulu.
MONDAY, SEPTEMBER 19, 2022 | NEWS 3
hosted by United CEO Scott Kirby and Emirates President Sir Tim Clark, featuring United and Emirates Boeing 777-300ER aircraft and flight crews from each carrier.
SIGA holds board retreat to discuss strategic measures for the improvement of specified entities
The board and management of the State Interests and Governance Authority (SIGA) has held a three-day board retreat to deliberate on measures aimed at supporting Specified Entities to become profitable, efficient and compliant.Thepublication of the AuditorGeneral’s report which cited several specified entities for irregularities in their conduct and financial reporting was high on the agenda.
achievement of its mandate,” the Corporate Affairs Division of SIGA said in a statement.
From November, Emirates customers flying into Chicago, San Francisco, and Houstonthree of the biggest business hubs in the U.S – will be able to easily connect onto United flights to and from nearly 200 cities across the Americas on a single ticket.
At the eight other U.S. airports served by Emirates – Boston, Dallas, LA, Miami, JFK, Orlando, Seattle and Washington DC –both airlines will have an interline arrangement in place.United will launch a new direct flight between Newark and Dubai starting in March 2023 – from there, customers will be able to travel on Emirates or its sister airline flydubai to more than 100 cities. Tickets for United’s new Dubai flight are now on sale.Emirates and United announced their agreement today at a ceremonial event at Dulles International Airport,
TotalEnergies Marketing Ghana PLC has commissioned the first ever Electric Vehicle (EV) charging unit in Ghana.
First public car charging unit launched in
MONDAY, SEPTEMBER 19, 20224 | NEWS
electric
Accra Continued from page 1 Tel: +233 (0)302 21 6000 www cbg com gh cbgbankltd CBG Controller Loan • Eric Oppong-Johnson - 0596912267 • Samuel Asewe - 0556493505 • Get up to GH¢250,000 • Tenor - 72 Months • Fix rate throughout the loan tenor • No penalty for early pay off • Buy off other loans FEATURES • Mandate Pin • Competitive interest rate • Mandate Number • Settlement quotation (applicable to pay off) REQUIREMENTS (CONTROLLER)
by Total Energies
He said “this is the first in the whole of West Africa; so this is not just Ghana but there is no service station in all of West Africa that has an Electric Vehicle charging unit.”According to him, the aim is to reduce the carbon footprint and support the Paris Climate Ambition by meeting the target of NET Zero by 2050 by reducing the emission of carbon as their customers use their products.
The Managing Director of TotalEnergies Marketing Ghana PLC, Olufemi Babajide stated that the EV charging unit is the first in West Africa and serves as a momentous contribution to the automotive industry.
It is part of efforts to help boost the increasing demand and usage of Electric vehicles in Ghana.
MONDAY, SEPTEMBER 19, 2022 | AFRICAN BUSINESS 5
The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union (EU).
“The four young and brilliant South African musicians contribute a high degree of artistry to the G20 Orchestra, not only through their technical prowess and accomplished musicianship, but with their warm and kind personalities as well. Their presence brings a warm atmosphere which is important to establish friendship and brotherhood among orchestral members.
Representing South Africa on a global stage, four members of the recently formed Mzansi National Philharmonic Orchestra (Mzansi NPO) have been invited to participate in the world premiere performance of the G20 Orchestra in Indonesia.
South African musicians join the G20 orchestra world premiere in Indonesia
The central piece in the programme is the Piano Concerto No. 4 by Sergei Prokofiev. The Russian composer wrote this moving piece under commission from the courageous Austrian pianist, Paul Wittgenstein, who had lost his right arm while fighting against Russia during the First World War.
Sukarlan, an Indonesian composer, and pianist, who is also the Founder and Artistic Director of the G20 Orchestra, has promised the highest level of music-making that classical music lovers can expect from the G20 Orchestra World Premiere, with some additional freshness brought to the programme by its cosmopolitan participants.
The G20 Orchestra would also
play five songs from A Child of Our Time, an oratorio penned by the renowned British composer Sir Michael Tippett. Tippett wrote his anti-war masterpiece during his three months incarceration for being a conscientious objector during World War II.
“One of Mzansi National Philharmonic Orchestra’s prime objectives is to harness the skills of talented, young South African musicians by broadening their orchestral experience and performance opportunities. So, it is my profound pleasure to announce the names of the four musicians, all under 30 years of age, chosen from the ranks of the Mzansi NPO to represent South Africa on a global stage. They are the violinists Jonathan Mayer and Carli D’Alebout; the cellist Chris Njapha; and the double bass player Jonalene Taylor,” Bongani Tembe, Mzansi National
This concert will take place on the 12th of September 2022, in Central Java’s Borobudur Temple in Magelang, Indonesia.
Their hard work and discipline are also highly appreciated by the fellow members and organizers, and they certainly have a bright future with the highest qualities that they possess as musicians and humans,” says Ananda Sukarlan, composer, pianist & artistic director of the G20 Orchestra.
It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.TheG20Orchestra is a newly founded orchestra in Indonesia that chairs this year’s G20 Summit Presidency. Ananda
The motto of this year’s G20 Summit, in the wake of the COVID-19 Pandemic, is ‘Recover Together, Recover Stronger.’
Philharmonic Orchestra, stated.
the pressure on France has been compounded by the loss of energy from half of its 56 nuclear reactors, which have gone offline for maintenance and investigations into corrosion issues. Those reactors previously provided roughly two-thirds of France’s electricity, and enabled France to become Europe’s largest energy exporter over the pastThisdecade.hasleft France vulnerable. According to one recent poll, only 51% of the French believe their president is “up to the task” of the moment. By rejecting MidCat, Macron may be attempting to protect France’s battered energy system – and his own political position.Ultimately, however, Macron’s arguments against the pipeline are unconvincing. For starters, he claims that the two existing gas pipelines between France and Spain are underused, having operated at 53% of their capacity since February. But, according to sources in the sector, those pipelines have operated at full capacity more than 20% of the time since March. In any case, energy infrastructure should have sufficient capacity to get us through unusually difficult times. Otherwise, shortages are inevitable.Macron also argues that completing the MidCat pipeline would take too long to make any difference in addressing the current crisis. But that is dangerously short-term thinking. High gas prices are not going away any time soon, even on the most conservative projections. Finally, Macron argues that MidCat is incompatible with the EU’s environmental goals. But the pipeline would neither lock
The current crisis should serve as a wake-up call. The EU must uphold principles of its energy policy – security of supply and affordability – that it long took for granted as it focused exclusively on sustainability. And it must reinvigorate progress toward energy union.
Like the rest of Europe, France is facing rising inflation, fueled by soaring energy prices. But
Europe’s energy myopia
Animports.accelerated shift toward renewables is supposed to
MONDAY, SEPTEMBER 19, 2022| FEATURE6
“European solidarity,” Macron insists that the pipeline will “not solve the European gas problem.”
REPowerEU promotes investment in “hydrogen-ready infrastructure” to connect the Iberian Peninsula (recognized as a future energy hub) with the European grid and to harness the “long-term potential for renewable hydrogen.” Current science suggests this goal is more than just a pipe dream: transporting hydrogen by pipeline is not only feasible, but in fact presents a much more efficient option, in terms of both energy conservation and cost, than transport by high-tension wires.Macron is hardly the first EU leader to maintain an everycountry-for-itself mentality, even as he publicly pushes for solidarity to overcome shared challenges. This tension was evident just last week at the Extraordinary Session of the Energy Council, which resulted in nothing more than kicking the can down the road.
As summer turns to autumn in Europe, the stakes of the continent’s energy crisis are rising fast, with no end in sight. While the proximate cause of the current price spike is the war in Ukraine, its roots run much deeper. In fact, it was the inevitable result of European inaction and tunnel vision – specifically, its failure to build a true energy union and its single-minded focus on implementing the European GreenRussia’sDeal.invasion of Ukraine had a unifying effect on the European Union. It also helped to revive a transatlantic relationship that had been weakened not only by Donald Trump’s presidency, but also by America’s unilateral withdrawal from Afghanistan and formation of the AUKUS defense partnership with Australia and the United Kingdom (a slap in the face to France). Today, the EU-US relationship is the strongest it has been in six years.
Europe into gas nor become obsolete. Instead, it could be repurposed to transport hydrogen – widely expected to be, in von der Leyen’s words, a “game-changer” for Europe.
By Ana Palacio
advance this goal. But the race to find alternatives to Russian gas has also brought less climatefriendly changes, including a resurgence in the use of coal. None of this has stemmed the rise in energy prices, which is contributing substantially to economic uncertainty in Europe.
Addressing the French parliament this week, French Energy Minister Agnès Pannier-Runacher echoed Macron’s sentiment, claiming that MidCat did not represent an “element of resilience in the current energy crisis.” The real reason for this opposition, however, probably lies at home.
The MidCat project has the support of Spanish Prime Minister Pedro Sánchez, Portuguese Prime Minister António Costa, and German Chancellor Olaf Scholz. It even made an appearance in REPowerEU – the roadmap for reducing Europe’s dependence on Russian fossil fuels – as one of three “existing projects of common interest” the European Commission pledged to “support andYet,encourage.”evenas he calls for
On the energy front, the Nord Stream 2 gas pipeline, which was set to carry Russian gas directly to Germany, appears to be dead in the water. Even the Nord Stream 1 pipeline has been shut down, at least for now, after more than a decade in operation. The EU has set its sights on the long-unthinkable – and possibly unfeasible – goal of completely ending its dependence on Russian gas. The scale of that task was made apparent by European Commission President Ursula von der Leyen’s recent State of the Union address, which proposed a number of sweeping energy measures but stopped short of imposing a price cap on Russian gas
Each EU member will continue to pursue the energy mix that best serves its national interests. But nothing would serve European countries’ national energy interests better than unity.
Despite these challenges, a unified approach to tackling the energy crisis – let alone creating an energy union – is nowhere to be found. French President Emmanuel Macron’s stonewalling on the completion of the MidiCatalonia (MidCat) pipeline, which would transport gas from Algeria through Spain to the rest of the EU, reflects the myopic perspective that continues to hamper progress.
Ms Adu also said the Association had contacted the Ghana Scholarships Secretariat and had called on the Minister for Education to seek his intervention for the payment of the bursaries, but all of their attempts failed, and the bursaries remained unpaid.
academic years.
University of Ghana graduate students demand payment of bursaries
The eco-friendly company as a key strategic pillar on its Environmental Social and Governance Key Performance Indicator (KPI) index, is embarking on this laudable initiative in partnership with Jekora Ventures, a leading waste management company.
“This we do with all dedication and diligence in pursuit of the development of our nation,” she stated. “It is somewhat surprising that a government that believes in education and is determined to turn the fortunes of this country post-COVID-19 pandemic has not prioritised our academic research work.”She said the association had observed with “great concern the lack of urgency by the government and the Ghana
According to her, the government had ignored multiple appeals by their mother association, GRASAG National, to ensure the payment of overdue bursaries to certain students in the 2019/2020 academic year, as well as payment for the 2020/2021 bursary and registration for the 2021/2022
MTN Ghana launches plastic waste campaign
Mr. Kuzoe urged all who share in the vision of building a sustainable future to actively support this campaign as they transform their communities.Forhispart, the Administrative Manager of Jekora Ventures Limited, Felix Laryea said since 2012, the company diverted its waste from the landfills because of the challenges in getting land to dispose of the tonnes of waste collected.Henoted that 60% of Ghana’s
“We are confident that this initiative will help deepen gains made already by our activities over the years and move us closer to achieving Sustainable Development Goal (SDG 11), which speaks to sustainable cities and communities requiring us to make cities and human settlements inclusive, safe, resilient, and sustainable” he stated.
Scholarships Secretariat in paying the bursaries of our members.”
Its partner vendor Jekora Ventures Limited collects these separated waste and recycles them into a number of household items. Additionally, through the company’s annual 21 days of Yello Care program, it has undertaken several initiatives such as collection of plastic bottles, and waste from the beeches for recycling, as well as using them for paving streets.
waste is organic, while 17% is plastic and the rest is paper and liquid. So, the company is using three composite facilities in Bortiano, Yilo Krobo and one in the Volta Region to fight the sanitation menace.
Mr Laryea was quick to add that since 2017, the company has been collecting waste from MTN Ghana’s head office. “We have collected 15 metric tonnes of plastic waste from the head office, while the quotum of paper waste collected is
However, while asking the government to send payments into their accounts by Thursday, September 22, 2022, she stated that if the government continued with its current posture, “we may advise ourselves in a manner most appropriate and lawful.”
“The 2020/2021 academic year ended with no commitment from the government to pay bursaries due graduate students,” she added.She said many graduate students were unable to complete their thesis due to the nondisbursement of the bursaries, which was hampering the flow of
MTNBackgroundless”.Ghana started source separation of its waste at the MTN house from February 2017. Till date the company continues to separate waste in three streams namely plastics, card boards, and organic waste.
Speaking at the launch, Senior Manager, Sustainability, and Social Impact at MTN Ghana Foundation, Robert Kuzoe is confident the initiative will help Ghana achieve goal 11 of the Sustainable Development Goals (SDG).
MONDAY, SEPTEMBER 19, 2022 | NEWS 7
“Research is an important tool for national development. As graduate students, whose major preoccupation is research, we dedicate our time to finding solutions to the plethora of challenges that confront society,” Ms Christiana Adu, President of the University of Ghana GRASAG, said in a statement.
academic work.
She added, “We are still urging the government and the Ghana Scholarships Secretariat to expedite payment of our bursaries inSheearnest.”alsocalled for an upward adjustment in their bursaries from the present level of GHS 420 for each student pursuing a master’s degree, saying: “This amount is woefully inadequate and insignificant under the current economic circumstances to fund academic research.”
The bins would be picked by the waste management company when they are full.
As part of activities to mark the Global Appreciation Work, MTN Ghana has launched plastic waste recycling campaign.
to collect the plastics, other locations within the regions such as Nhyiaeso, Kejetia, Takoradi Main, Market Circle, Koforidua, and the Wa Service Centres will follow suit.
The first phase of the campaign labelled bins would be positioned at the MTN head office in Accra and its Osu offices also in Accra
The University of Ghana branch of the Graduate Students’ Association of Ghana has expressed its displeasure with the Ghana Scholarship Secretariat and the government for the delay in paying graduate students’ bursaries since 2019.
Mr Kuzoe indicated that, recycling a tonne of plastic saves energy equal to 5.774-kilowatt hour (kWh.) which is the equivalent to the amount of energy consumed by two people for a “It’syear.estimated up to 40 percent of oil consumption could be reduced through recycling plastic waste” he added.
The lead character takes us on a journey as she runs away from
In this novel, the author weaves seamlessly together Greek mythology and the Ghanaian history of the Atewa forest. We learn how a clean, cheerful environment fades as foreigners encroach on a forest to fell trees in search of mineral resources.
As Berganda discovers her past and ancestry, she becomes a beacon of strength, defining who she could become. This novel carries a timeless message of bravery, acceptance, and the need for community. I particularly loved the
However, I found the characters’ language and actions a little above middle grade, albeit I liked how this book describes the growth of Kojo Brown from a carefree little boy to a young teen leader.
This world is indeed cruel. Sometimes, we sit and wonder why certain things happen; the earthquake that claims lives in certain countries, the hurricane and heat waves, the wildfires that the mind can’t comprehend. In this book, we see a child born as an intersex child in the heart of Northern Nigeria.
It’s a strange fantasy children’s novel about a child’s dream world. The book contains illustrations that make it enjoyable to read. The reader sees things through Kojo Brown’s point of view and hears his inner monologues.
The first chapter opens a world for the reader to understand the environment where the protagonist, Hawa, lives.
“With a forest like Basata, you could feel at home with the trees, the animals were your friends, and you could even communicate with them and play with them, she added. It was a perfect place for her child to grow without her.”
0242879695authordennismann@gmail.combelow:
Ghana’s creative industry is shattered like glass into a million smithereens. Ghanaians are yearning for more content daily, and the Ghanaian child is not exempted from this. We’ve seen the likes of Ama Atta Aidoo and Efua Sutherland, who cultivated reading literacy in us as a child. They made us see reading as fun and how it ought to be. But have you wondered, in the millennials, we lack new generations to continue the reins of our ancestors?TheGhanaian child wants to dream of possibilities. They want to escape into fairytales and fantasy out of the “madness” of this world. Exceptional and captivating reading materials that challenge them to aspire and cause a change for their communities.Ayoungman rising to the occasion is Dennis Mann, a young banker who still finds time out of a tedious banking schedule to write stories for kids.
MONDAY, SEPTEMBER 19, 20228 | FEATURE
MR. PEE PEE: KOJO BROWN VISITS THE LAND OF PIE BY DENNIS MANN
Hawa is part of the young girls captured by Boko Haram and shares her POV from the writer’s pen. She must do everything to survive and flee away from the harm of the bullets to what she had always wanted to become in theThisfuture.book is worth reading for teens aged 12-18.
Children Book Reviews
REVIEW FOR BULLETS & BIROS by DENNIS MANN
The story begins with a young girl waking up one morning to find her home destroyed by strangers felling trees; she calls her family. Feeling agitated, Berganda searches for these strangers to seek her revenge. The author takes the reader through Berganda’s journey of selfdiscovery and ancestry.
illustrations and how they gracefully grabbed the eye and complimented the text. I also appreciated how the author uses descriptive and expressive language to write a YA novel with “clean” language and scenes. I recommend this novel to my YA and middle-grade lovers who would love to read a reimagining of “jungle boy.”
that she was eleven years old.
begins with a weird dream sequence of Kojo Brown playing football with his friends and ending up at Mr Pee Pee’s castle, where he is questioned about why he no longer wets
I was privileged to read his first three books, and oh my goodness, every child needs to read Dennis Mann’sDennisbooks.Mann is a Ghanaian born and resides in Accra with his family. He writes for children and adults. He is the President of Wide Reading Among Kids, a social club that gives free books to underprivileged kids. I share my review for the three books.
If you need to contact the author you can do so by reaching out to him with the channels
BERGANDA: MY FOREST, MY HOME BY DENNIS MANN
his bed. The plot then shifts to Kojo and his friends fighting as Mr Pee Pee seeks to capture the individuals they care about.
Reviewer: Benedicta Mawuena Dzandu
This story is heavy. Your heart feels troubled reading every line and line of a story inspired by an incident in Nigeria where Boko Haram kidnapped over 200 youngDennisgirls.Mann gives his reader a view of the camp of Boko Haram and his dealings.
As a reader of middle-grade fiction, I think it’s a good attempt at writing a children’s fantasy infused with magical realism, with very plain, straightforward narration and solid and likeable characters.KojoBrown Visits the Land of Pie is a bedwetting-themed tale. We’ve all had the experience of waking up with our pyjamas/nighties and bedsheets wet with pee, feeling ashamed and attempting to cover it before anybody sees it, but failing miserably. Yes! This narrative aims to teach children about bedwetting and how to address it with tolerance and understanding. Sometimes, little lifestyle adjustments, bladder training, moisture training, and medication might help minimize bedwetting.Thenovel
“We sit under the sun; there is no shelter for us. When it rains, there’s no school. If I could sell sand for money, I would be the richest young girl in Damaturu.”
MONDAY, SEPTEMBER 19, 2022 | NEWS 9
Samuel Osei Addo, the Managing Director of the Hope Children’s Village received the donation on behalf of the ‘village’ and expressed his excitement and gratitude to the bank for their support.“Weare very happy today
Xodus Communications Limited, the organisers of Forty Under 40 Awards and other prestigious Awards on the continent have officially shortlisted 137 finalists out of 265 entries that were submitted for the sixth edition slated for October 1, 2022, at the Kempinski Gold Coast Hotel in Accra.
The Forty Under 40 Awards categories covers a wide range of all the various business sectors in the country, ranging from banking and finance, energy, family business, agriculture, theatre and arts, journalism, fashion, law, sports, event management, health, technology
the nominees have been carefully scrutinised under the supervision
The Finance Department of Stanbic Bank Ghana as part of their annual Corporate Social Engagements visited the Hope Children’s Village in the Central Region, last week. The team from the bank spent time with the children, toured the facility and donated an amount of
Victor Yeboah-Manu, Chief Finance Officer at Stanbic Bank, and leader of the Stanbic delegation presented the cheque on behalf of the bank. He took the opportunity to commend the
Forty Under 40 Awards: 137 nominated for 2022 edition
Making dreams possible: Stanbic Bank brings smiles to Hope Children’s Village
MONDAY, SEPTEMBER 19, 202210 | FEATURE
it was astonishing to see great competition from the list of entries they received from different parts of the country.
because of this wonderful donation we have received from Stanbic bank. We have about 48 children in different universities across the country whom we’ve been earnestly looking for funds to settle their fees; this gesture is essentially timely and appreciable. We are truly grateful to you for your continuous support. May God almighty continue to bless Stanbic Bank and replenish you for being heralds of hope”, he said.The Hope Children’s Village has been in operation for 26 years and continues to give hope to over 1000 children. There are 7 residential children’s homes where the physical, emotional, nutritional and spiritual needs of 599 children are being provided for every day. The Stanbic Finance department has over the years provided support for selected special needs educational centres, including the Dzorwulu Special School.
He said the selection process required some significant achievements with some degree of evidence from the nominator
GHS20,000 and items including toiletries, foodstuff and assorted drinks to the orphanage.
of a Thejury. awards scheme in partnership with the Ministry of Tourism, Arts and Culture seeks to identify, honour and celebrate a cross-section of the nation’s most influential and accomplished young business leaders under the
say that the 137 finalists are duly qualified”, he said.
management of the orphanage for the good work they were doing and emphasized the bank’s commitment to supporting education.Hesaid, “We came here last year and saw the good work the team is doing for these wonderful children. This year we are back again to do even more to support their efforts. As a bank with a vested interest in promoting quality education for the youth, it is always fulfilling to support the education of these young ones under the care of the orphanage. We are very hopeful that this donation will not only help cater for their basic academic needs but will also help actualize their individual dreams.
Adding value to partnerships: The Stanbic Bank way
under the laws of Ghana in 2009 to participate in the downstream energy sector as a bulk distribution oil company. Over
space.Henoted that “The bank will remain an active player in the drive to achieve growth for Ghana and Africa”. He also spoke about some of the initiatives the bank has put in place across its franchises on the continent to ensure that they are contributing to development on the continent. He mentioned some of the initiatives that the Group’s franchise in Ghana, Stanbic Bank, has been engaged in as part of its support to the GhanaianDominioneconomy. International Petroleum Ltd (DIPL) is a privately held and wholly owned Ghanaian company, registered
attributed the sustainability of the company to the partnership with the bank. According to him, “Our growth partnership with Stanbic Bank has been of great benefits. In many ways, it has led to the growth and sustainability of Dominion International Petroleum.”
the past 13 years, the company has grown to become one of the foremost Bulk Oil Distribution Companies (BDCs) in Ghana.
MONDAY, SEPTEMBER 19, 2022 11| NEWS
As part of his working visit to Ghana, the Chief Executive Officer, Business and Commercial Clients at the Standard Bank Group, Bill Blackie, visited some of Stanbic Bank’s clients to understand their work and the different ways the bank can help in growing their businesses.Oneofsuch businesses visited was Dominion International Petroleum, a petroleum company involved in the downstream oil and gas sector. While at the company, the Stanbic Bank team met with the Chief Executive Officer, Rev. Dr. Gifty Akushika Lamptey and the Managing Director, Mr. David Jones-Mensah, who spoke about Stanbic Bank’s support towards its growth and expansion.TheCEO said “Most banks tend to shy away from supporting new businesses because of the risks involved. Their confidence in such businesses is low and they are overly cautious in their dealings with them. Stanbic Bank, however, took a very bold step in supporting us regardless of the risks and we are truly grateful for the support and partnership.”
Speaking on how significant the support from Stanbic Bank has been, Mr. David Jones-Mensah
In his remarks, Bill Blackie expressed his impression about the pace of growth in the economy since he last visited Ghana in 2019. On what makes the bank attractive to its clients, he said the highly capitalized nature of the bank bodes well for investment in critical sectors such as the SME
With COP27 less than two months away, Sameh Shoukry, the Egyptian Minister of Foreign Affairs and COP27 PresidentDesignate, said financing for climate action in Africa had not been forthcoming despite the pledges. “COP27,” he said, “is a chance to deliver”.
MONDAY, SEPTEMBER 19, 202212 | FEATURE
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. 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.
Mr Maait said Egypt is working on uniting Africa’s voice for COP27, to reduce inequalities in access to climate finance. He 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.
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 investment in the SDGs and climate objectives. 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.
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. For the 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.
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 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 considered ways 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.
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
Blue walls, green bonds and debt-for-nature: from pledges to implementation in Africa
progress in tackling water scarcity and notably through its comprehensive NFWE projecttackling the nexus between food security, water and energy.
How do you finance a fair postpandemic 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.
South-South cooperation with Egypt was proposed, as it had demonstrated great
It was a theme picked up by Amina J Mohammed, DeputySecretary 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.TheUnited 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. 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.TheECA 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.
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. They could, he said, raise capital to meet environmental challenges and support green growth. The Minister for Agriculture, Climate Change and the Environment in the Seychelles, Flavien Joubert,
A joint communique issued at the end of the ministers’ meeting requested the ECA to present a proposal to establish a Sustainable Sovereign Debt Hub. 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.
Closing the conference, 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 be kept. But 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.”
Thereagenda.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.
MONDAY, SEPTEMBER 19, 2022 13| NEWS
Mr. Henry Kokofu, Executive Director, Environmental Protection Agency (EPA), Genevieve Parker-
(Agenda 2030).
Twum, Senior Incubation and Acceleration Advisor on the Green Project, Sylvia Sefakor Senu, Economist, United Nations Development Programme (UNDP), and Amma Lartey of Impact Investing Ghana, panelists at the event made submissions to highlight the importance of meeting the SDGs and efforts to meetTheythem.underscored the need for Ghana to double collaborative efforts with the private sector to drive more investment into Micro, Small and Medium Enterprises (MSMEs) to create robust “green enterprises.”This,theysaid, would help reduce
These happenings had resulted in food, energy, and fiscal crisis across the world, with Ghana not been an exception, forcing Governments to re-strategize and “build back better” to meet the
“We are therefore committed to supporting the development of sustainable MSMEs and the transition of existing MSMEs to more sustainable business models, and the Accra SDGs Investment Fair is one of the ways we seek to do
2030 SDGs deadline.
Hethis.” was confident that initiatives including the YouStart entrepreneurship programme would provide avenues to promote sustainable enterprises through skills development and investments into enterprises that were demonstrably sustainable.
The Government of Ghana, in recognition of these difficulties has embarked on several initiatives to invest in enterprise development to stimulate new employment and accelerate economic development.
Speaking on behalf of the finance minister, a Deputy Minister for Finance, John Ampratwum Kumah, reiterated government’s commitment to the SDGs to meet climate action commitments, adding that these could be achieved through empowerment of MSMEs which employ more than 80% of the workforce and generate about 70% of national output.
Mr. Yofi Grant, CEO of Ghana Investment Promotion Centre (GIPC), also said Ghana had many opportunities in agriculture, energy, water resources and development of smart cities, which could be harnessed through strengthened partnership between the Government, businesses, and research institutions.
The speakers noted that Ghana had many opportunities in agriculture, energy, water resources and development of smart cities, which could be harness through strengthened partnership between the Government, businesses, and
research institutions.
Through the Coronavirus Alleviation Programme Business Support Scheme (CAP BUSS), the government is cushioning (MSMEs) and positioning them to support sustainable development.
This year’s virtual fair was organized in partnership with the SDG Advisory Unit-Office of the President, GIPC, Social Enterprise Ghana and Impact Investing Ghana.
The Government of Ghana has held a two-day virtual fair aimed at increasing investments in green enterprise development as a sustainable pathway to climate resilient growth in Ghana.
MONDAY, SEPTEMBER 19, 202214 | NEWS
He said the Government, through the establishment of the Article 6 Office, would develop a regulatory framework to bring together
investors and project developers to engage in ventures that will make the private sector earn more in the sale of credits generated via carbon emission reductions while helping government to meet is climate resilient requirements.
Prof Gyan-Baffour, Chairman, National Development Planning Commission (NDPC), in his speech noted that, Government’s commitment to the SDGs would help reduce the high rate of unemployment and regional disparities, create decent jobs particularly for the youth and lower the emission of harmful gases into the environment, thereby, increase Ghana’s drive to achieve its SDGs
The event saw high panel discussions on sustainable financing to promote green enterprise development, as well as the transition to a low carbon economy by exploring the opportunities in green jobs investment.Dubbed the “Accra SDGs Investment Fair 2022,” the event also discussed the opportunities for investors and project developers at local level implementation of the Sustainable Development Goals (SDGs).Theevent held under the theme, “Investments in Green Enterprise Development: The Sustainable Pathway to Climate Resilient Growth” was also used to launch the 2021 SDGs Budget Report.
the high rate of unemployment and regional disparities, create decent jobs particularly for the youth and lower the emission of harmful gases into the environment, thereby, increase Ghana’s drive to achieve its SDGs (Agenda 2030).
The Virtual Accra SDGs Investment was held at a time that global socio-economic crisis (COVID-19 pandemic and RussianUkraine war) had thrown into sharp focus the challenges impeding the implementation of the SDGs.
Government holds 2022 Virtual SDGs Investment Fair on green enterprises and climate resilience
MONDAY, SEPTEMBER 19, 2022 15| NEWS
MONDAY, SEPTEMBER 19, 202216 | NEWS
MONDAY, SEPTEMBER 19, 2022 17| FEATURE
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%.
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$, reflecting w/w and YTD depreciations of 0.72% and 25.16% respectively. This compares with YTD depreciation of 2.26% a year ago.
THE CURRENCY MARKET
The market ended the week with no advancer and 2 decliners as indicated on the table below.
Inflation for February, 2022 31.7%
STOCK MARKET REVIEW
MONDAY, SEPTEMBER 19, 202218 | MARKET REVIEW
ago.The
BoG Policy Rate 22.0%
2022 Budget Deficit Target (%GDP) 6.6%
Q3, 2021 GDP Growth 3.3%
Public Debt (billion GH¢) – Dec, 2021 393.4%
Debt to GDP Ratio – Dec, 2021 78.3%
2022 Projected GDP Growth 3.7%
MACROECONOMIC INDICATORS
Budget Deficit (% GDP) – Dec, 2021 5.0%
MTN dominated volume of trades for the week, accounting for 47.85%, whiles GCB dominated value of trades for the week, accounting for 44.08% of value of shares traded.
WEEKLY MARKET REVIEW FOR WEEK ENDING - SEPTEMBER 9, 2022
Average GDP Growth for 2021 3.3%
Trading activity recorded a total of 3,682,515 shares valued at GH¢4,953,397.14 changing hands, compared with 1,944,061 shares, valued at GH¢1,679,680.70 in the preceding week.
The Cedi continued its downward trend against the USD for the week. It traded at GH¢8.2565/$, 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
Weekly Interbank Interest Rate 21.99%
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%.
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.
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.
End Period Inflation Target – 2022 28.5%
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.
Tel:+233Email:moyeboah@cidaninvestments.com(0)244990069
Your subscription along with the support of businesses that advertise in Business24 -- makes an investment in journalism that is essential to keep the business community in Ghana wellWeinformed.value your support and loyalty.
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.
Tel:+233Email:aaudrey@cidaninvestments.com(0)578402700
COMMODITY INTERNTIONALMARKETCOMMODITIES
Source: revolvingcredit.asphttps://www.investopedia.com/terms/r/
Name: Moses Nana Osei-Yeboah
PRICES
Name: Ernest Tel:+233Email:etannor@cidaninvestments.comTannor(0)208818957
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.
ABOUT CORPORATERESEARCHCIDANTEAMINFORMATION
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
Name: Audrey Asiedua Wiafe
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.
MONDAY, SEPTEMBER 19, 2022 19| MARKET REVIEW
GOVERNMENT SECURITIES MARKET
CIDAN Investments Limited is an investment and fund management company licensed by the Securities & Exchange Commission (SEC) and the National Pensions Regulatory Authority (NPRA).
Copyright @ 2019 Business24 Limited. All Rights Reserved. Limited
Disclaimer
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.
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.
+233AdvertisingNewsroom:editor@business24.com.ghContact:0302965315/Sales:242122742
WWW.BUSINESS24.COM.GH | NO. B24/317 | NEWS FOR BUSINESS LEADERS MONDAY, SEPTEMBER 19, 2022
myths and conspiracy theories associated with COVID-19 vaccines and encourage communities to get vaccinated against the COVID-19 virus.
COVID-19Volunteersvirus.wearing #ItsUpToUs, Mastercard Foundation and “Obiara B3W)’ Tee-shirts took the campaign door to door on the principal street and the market culminating with a vaccination exercise in front of the Chief’s Palace. To attract the youth’s attention and achieve the campaign’s purpose, the CEO of the Angeles Foundation,
Angeles campaignFoundationFoundation,MastercardpromotesCovid-19VaccineatOdwirafestival
led the youth in a community dance competition using the “ObiaraB3Wo’ Campaign song.
During the festival, the campaign was boosted by the presence of members of the Tema Lions Club, National Health Insurance Scheme, and Ghana health services to promote Covid 19 vaccines and good health practices.
An interview with the founder of the Angeles Foundation, Kobi Hemaa Osisiadan-Bekoe, highlighted the responsibility of individuals to get vaccinated and become vaccine ambassadors in their communities to mitigate the transmission and effects of the
Being a Yam Festival, gratitude for the harvest is underpinned in the cultural ritual of “feeding ancestors”; traditional authorities perform this function.
The theme of the Angeles Foundation Campaign “Obiaa B3 W)” is linked to the Mastercard Foundation’s Public Awareness Campaign #ItsUpToUs. The primary goals of the Mastercard Foundation Public Awareness Campaign are to encourage Ghanaians in the demographic group aged 18 to 45 to get the COVID-19 vaccine, dispel
The significance of the annual festival is rooted in thanksgiving for bountiful harvests and the acknowledgement of the area’s ancestors. For decades, the Odwira Festival has been an expression of Ghana’s colourful, vibrant and diverse cultural identity, bringing together people from all walks of life to celebrate themes of victory, gratitude and harvest in unity.
For many decades, the Odwira Festival has been an expression of Ghana’s colourful, vibrant and rich traditional culture.
This year’s event, witnessed a partnership between The Angeles Foundation and The Mastercard Foundation to create awareness of COVID-19 vaccines in selected communities in Ghana.
