Business24 Newspaper 4th November, 2020 by Business24 Online

THEBUSINESS24ONLINE.NET

WEDNESDAY NOVEMBER 4, 2020

NO. B24 / 122 | NEWS FOR BUSINESS LEADERS

2021 Eurobond could attract higher yields over debt pile-up— Lord Mensah

Chinese vessels abusing Ghana’s fishing laws, watchdog alleges By Benson AFFUL affulbenson@gmail.com

he Environmental Justice Foundation (EJF) has accused a Chinese vessel of repeatedly practising illegal fishing on Ghana’s coast after the vessel was arrested for the second time for the same offence. Cont’d on page 3

Rwanda forges strategic, win-win partnership with Ghana

…as it opens High Commission in Accra By Patrick Paintsil p_paintsil@hotmail.com

Dr. Lord Mensah, Economist

By Sani Abdul Rahman

conomist Dr. Lord Mensah says the recent warning sounded by the International Monetary Fund (IMF) over Ghana’s rising debt

levels could lead to investors demanding higher yields on the government’s planned Eurobond issuance scheduled for early 2021. Ghana’s parliament on Tuesday approved the

ECONOMIC INDICATORS EXCHANGE RATE (INT. RATE)

POLICY RATE

government’s move to raise between US$3bn and US$5bn on the Eurobond market to support the 2021 budget and liability management.

NATURAL GAS $/MILLION BTUS

GHANA REFERENCE RATE

15.12%

GOLD $/TROY OUNCE

OVERALL FISCAL DEFICIT

11.4% OF GDP

AVERAGE PETROL & DIESEL PRICE:

0.9% GHC 5.13

BRENT CRUDE $/BARREL

14.5%

PROJECTED GDP GROWTH RATE

Cont’d on page 3

Cont’d on page 2 INTERNATIONAL MARKET

USD$1 =GHC 5.7027

wanda has officially opened its High Commission in Ghana in a strategic partnership that will see the two progressive African nations deepen their long-standing friendship and to explore areas of mutual interest for the social and economic advancement of their people.

CORN $/BUSHEL COCOA $/METRIC TON COFFEE $/POUND:

$41.26 2.622 1,922.57 329.50 $2,339.27 $109.65

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NEWS/EDITORIAL Editorial / News

MONDAY SEPTEMBER 2020 WEDNESDAY NOVEMBER 4,142020

EDITORIAL Editorial

Pay before boarding order needs a rethink

Wash your hands 2

Cover your cough 3

Akwaaba, Rwanda!

The new directive for all passengers to pay for their COVID-19 test online before their arrival nat Tuesday, Kotoka International November Airport has been meet with 3, 2020, Rwanda resentment by airlines and officially opened its High passengers. Commission in Ghana as part ofare a At a time when passengers partnership enhance still comingthat to seeks termsto with the US$150 � GHC 900� mandatory the long-standing relationship paymentthe fortwo COVID-19 test upon between countries. arrival at KIA, the new directive Before the more official opening, has generated debate. the two countries had a joint Passengers travelling to Ghana cooperation agreement will from Tuesday, September to 15 enhance collaboration some be required to makein online payments the mandatory key areas for of mutual interest C OV I D -1 9 te s t at Ko to k a including trade and industry, International Airport prior to tourism, education et cetera. boarding of their flight, a d They i r e c t are i v e also b y working F r o n t i etor H e a l t h Cbilateral a r e � t h agreements e c o m p a niny conclude contracted to carry out the finance and trade which will soon antigen test at KIA--to all airlines be help unlock and on finalised Friday hastorevealed. increase the number B y t h e n e w dofi rpotential ective, business opportunities “Passengers are requiredbetween to show proof payment to airlines as a the twoofcountries. Rwanda’s Foreign Affairs Minister, Dr. Vincent Biruta, who spoke at the opening ceremony,

condition for boarding of flights country� s COVID-19 testing to KIA.” regime.

T h e n e w d i re c t ive , h a s said the occasion a significant however, been was described by airlines as detrimental to the milestone in the excellent renewed with efforts to borne stimulate relations Ghana out demand for air travel, given that of bothpayments nations’ desire to better cash remains the the lives of its people through predominant mode of payment for most Ghanaian enhanced bilateral travelers. relations. “This decisionoperator to makewho an An airline wishes to remain anonymous, investment in the future of our told Business24 that “The cost is relations is based on the firm already too high and now this conviction there is a to huge new policythat is also going be potential i m p l e m e ntot e dstrengthen . T h e r e athe re hundreds of Ghanaian traders interest that we share to benefit of who travel to buy goods to retail our respective people,” Dr. Biruta in the country. said. “Most of them don� t carry any Indeed, payment the twocards countries electronic to be have a lot offer each as able to paytoonline. Theyother should have to have pay both cash far as the the flexibility strides they when they arrive.” made over the last few decades. The Consumer Rwanda has emergedProtection as one of Agency � CPA� has also raised the countries to reckon with in critical questions about the Eastern Africa especially as relatively high cost as of farthe the deployment of digitization is concerned. It is famed for its use of

The CPA� s Chief Executive technology enhance business Officer, KofitoKapito, said in as much as the government want to registration, payment of taxes curb imported cases of the among others. Indeed, Ghana respiratory disease, it must not also hasthe itspassenger own success stories burden but charge regarding how toit cover has their also what is enough cost and not to profit from the deployed digital solutions to solve passenger. some basic challenges. “Look Africa and There around is no doubt that you the see that what is paid in Ghana for decision to deepen this bilateral the test is the highest. Why relationthatcould should be� ” see the two collaborate andquestions also compare He also raised about notes.the And Noguchi of course, Memorial this paper why Institute Research of believes for thatMedical as we head into the the University of Ghana, was not full implementation of AfCFTA, made to handle the testing for a such collaboration reasonable fee but could rather be a useful. contract given to a foreign company to do what Noguchi The Business24 also welcomes could adequately handle. Ghana’s move to upgrade its Business24 would in like to urge honorary consulate Kigali into aa fully-fledged flexible approach that allows high commission. passengers to either pay online On this occasion, we can only or cash on arrival. say to Rwanda and to its High Commissioner, Dr. Aisa Kirabo Kacyira.

COVID-19: Banks deferred GH¢3bn in loan repayments CONTINUED FROM COVER

2021 Eurobond could attract higher yields over debt pile-up—Lord Mensah Wear a mask Brought to you by

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that the desired outcomes are outbreak had transformed their team structures to the new way of achieved and the economy operations, the bank chiefs working in order to maximise brought back on track.” responded that the immediate efficiencies of digital banking, Mr. Awuah� s remarks were response was to enforce remote and ensure less-paper operations reinforced by majority of the top working while realigning workers� and requirements for social distancing. In the long run, these bank executives who responded roles. measures may result in possible While the majority, 69 percent, Continued from cover to the survey. The respondents layoffs for some whose jobs of respondents indicated that advised the Bank of Ghana to The IMFstakeholder had projected Ghana’s remote working will become a become automated,” the report increase consultation debt-to-GDP to end the year 76.7 permanent option going forward, said. in order to propose atmore Commenting on the findings of percent in policies. its Regional Economic there was general consensus that beneficial the survey, which was on the the new norm will ultimately lead Outlook This, for theysub-Saharan said, willAfrica help to the shedding of workers whose theme “The new normal� banks� released 23.and extent estimateon theOctober timelines response to COVID-19”, PwC� s jobs have become automated. The rising debt levels to which the policiescoupled of the “ M o s t b a n k s i n t e n d t o Country Senior Partner, Vish with low revenue performance regulator will remain available. permanently incorporate remote Ashiagbor, cautioned that for and S o msluggish e r e s p oeconomic n d e n t s growth s i m p l y working as an option available to workers that survive the digital induced thethere Covid-19 thought by that waspandemic the need staff based on their roles. 12.5� of p ro g re s s i o n , t hey h ave to for detailed from the will feature guidelines prominently in banks confirmed that they have upgrade their skills to remain government and Bank of Ghana investor considerations when the already begun and will continue relevant. on the implement ation of to realign the job roles and work government holds the roadshow measures putearly in place curb the expenditure, strengthen the September 28 showed. for the bond next to year. impact of the pandemic. “Borrowing on the heels of fiscal rules, phase out off-budget In February this year, Ghana In their view, clear guidance the IMF sounding a caution operations and improve domestic raised the longest-dated wasyour missing, and will though on debt level lead this to revenue performance. Eurobond in sub-Saharan Africa c o u l dinterest b e srates,” h a r e Dr. d Mensah during higher “If your revenue performance as part of an auction that raised stakeholder consultation, they is low, you cut expenditure to $3bn and attracted bids exceeding told Business24 in a telephone could not fully embed the new interview. ensure a balance. You don’t go $14bn. policies in operational strategy The Minority in Parliament about borrowing to finance capital The country sold $1.25bn in without a detailed documented raised concerns over the impact expenditure to increase the fiscal debt with an average life of seven directive. of the Eurobond issuance on the deficit,” the University of Ghana years and a coupon of 6.375 ADVERTISE WITH US country’s debt stock when the Business School lecturer said. percent, $1bn in 15-year bonds Post-pandemic banking TEL: +233 024 212 2742 request for approval was tabled The country’s debt level rose to with a coupon of 7.875 percent, on When the floor of Parliament. and a record $750m debt with an asked by the audit firm 68.3 percent of GDP (GH¢263bn) www.thebusiness24online.net Dr. Mensah urged the at the end of July 2020, figures average maturity of 41 years and a about how the pandemic� s government to instead cut capital released by the Bank of Ghana on coupon of 8.875 percent.

WEDNESDAY NOVEMBER 4, 2020

Chinese vessels abusing Ghana’s fishing laws, watchdog alleges Continued from cover The fisheries watchdog said the trawler, Lu Rong Yuan Yu 959, was apprehended last month for taking on board a catch that was 90 percent made up of juvenile fish below the minimum landing size. According to EJF, this is the vessel’s second known arrest, and records indicate that it is owned by the same company which had its other vessel arrested twice for almost identical violations. The pressure group has therefore urged Ghanaian authorities to undertake a thorough, transparent investigation and urgently reconsider the role of foreign ownership of vessels in a trade that is reserved for locals. The EFJ said Lu Rong Yuan Yu 959 was apprehended in September this year by Ghana’s navy and Marine Police for possession of undersized fish

which made up 90 percent of a single haul. “This was not its first arrest. In April 2015 the vessel was arrested for the same offence of taking aboard undersized fish and fined GH¢200,000 (around US$50,000),” EJF said. Industrial trawlers harvesting significant quantities of juvenile fish are a serious concern in Ghana’s fisheries sector. Catching these fish, which are often sold to local fishing communities as part of the destructive and illegal saiko trade, devastates fish populations that are already severely depleted. EJF said the vessel owner, Rongcheng Ocean Fishery Company, is also listed as the owner of the Lu Rong Yuan Yu 956, which was arrested in June 2019 for catching undersized fish and use of illegal nets and was fined US$1m in October 2019. The vessel failed to pay the fine and was relicensed to fish before being arrested again in May 2020

A The twice-arrested Lu Rong Yuan Yu 956 is one of the vessels owned by Rongcheng Ocean Fishery Company.

for almost identical offences. The vessel was then relicensed yet again while awaiting hearing on the two cases, the watchdog said. An estimated 90 percent of trawlers fishing in Ghana are owned by Chinese corporations that use Ghanaian front companies to gain registration, EJF alleged. It said opaque ownership arrangements are not only illegal, but also have allowed the owners of vessels to escape scrutiny for illegal practices which are rife in Ghana’s trawl industry. A minimum fine of US$1m is due when a fishing vessel is found to

have taken on board undersized fish, according to Ghana’s 2002 Fisheries Act (Act 625), as amended by the 2014 Fisheries (Amendment) Act (Act 880). The fine increases to US$2-4m for a second contravention, along with suspension of the vessel’s fishing licence for six months from the date of conviction. Therefore, according to Ghanaian law, the Rongcheng Ocean Fishery Company should be fined at least US$4m for the two most recent offences, if convicted, and both vessels should have their licences suspended, EJF said.

Rwanda forges strategic, win-win partnership with Ghana Continued from cover Prior to the opening, the two countries had already signed a joint cooperation agreement to enhance collaboration in some key areas of mutual interest including trade and industry, tourism, education et cetera. They are also working to conclude bilateral agreements in finance and trade which will soon be finalised to help unlock and increase the number of potential business opportunities between the two countries. Rwanda’s Foreign Affairs Minister Dr. Vincent Biruta, speaking at the opening ceremony, said the occasion was a significant milestone in the excellent relations with Ghana borne out of both nations’ desire to better the lives of their people through enhanced bilateral relations. “This decision to make an investment in the future of our relations is based on the firm conviction that there is a huge potential to strengthen the

High Commissioner Dr Aisa Kirabo Kacyira is spearheading a new paradigm in Ghana-Rwanda relations

interest that we share to benefit of our respective people,” Dr. Biruta indicated. He added: “We look forward to continuing to support each other on the international scene where we often share the same African

agenda including the reforms of the African Union and the Sustainable Development Goals (SDGs).” Ghana’s Foreign Affairs Minister, Shirley Ayorkor Botchway, reiterated government’s

commitment to the shared values of the bilateral relations with Rwanda underpinned by mutual respect, democracy and good governance and the maintenance of international peace and security. She commended the Rwandan government for their invaluable contribution and support, especially for Ghana’s successful bid to host the AfCFTA Secretariat. In a countermeasure, Mrs. Ayorkor Botchway disclosed that Ghana’s honorary consulate in Kigali will soon will be upgraded to a full embassy. Rwanda, according to its high commissioner Dr Aisa Kirabo Kacyira, has already identified business and trade, tourism, agribusiness and education as key areas that it intends to partner government to fully explore for mutual gains. “We are here to serve and to make a difference in the lives of our people that our two governments are very much committed to,” Dr. Kacyira added.

WEDNESDAY NOVEMBER 4, 2020

News

WEDNESDAY NOVEMBER 4, 2020

Gov’t in talks with banks over credit support to farmers By Eugene Davis

overnment says it is exploring ways to increase access to finance for farmers to enable them procure machinery to increase productivity and enhance the agro-processing sector. To this end, the Ministry of Food and Agriculture has started negotiations with two local banks, Agricultural Development Bank (ADB) and Fidelity Bank, to provide credit to farmers. Speaking to the press in Parliament on Monday to announce the date for the celebration of the 2020 National Farmers’ Day, the Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto, said: “We have noticed that some of the farmers have shown lots of commitment, and it is the reason we are talking to some banks, including ADB and Fidelity, to provide loans for

farmers who need credit to buy equipment and machinery to enhance agro-processing.” This initiative, he stated, will have a big impact on the agroprocessing sector in the near term. The agricultural sector plays a critical role in the overall economic growth of the Ghanaian economy. Agro-processing, in

particular, is important because it supports value addition and reduces post-harvest losses, which are high in Ghana. Farmers’ Day at Techiman This year’s National Farmers’ Day celebration is slated for November 6 in Techiman, in the Bono East region, with the objective of honouring hardworking farmers and fisher

folk in the country. According to Dr. Afriyie Akoto, the pandemic has highlighted the indispensability of farmers. “In a very significant way, our farmers and fisher folk kept the nation afloat at the peak of the pandemic by continuously breaking their backs to put food on our table and providing our nutritional needs, a vital requirement for strengthening the immune system to effectively combat the Covid-19 virus.” As part of the celebration, a week-long agricultural fair is being held in Techiman starting November 2. The fair will provide a platform for interaction among farmers and other stakeholders of agriculture on improving agribusiness along the value chain. It is designed to whip up interest in the Farmers’ Day celebration to ensure its overwhelming success.

GFA President pays courtesy call on First National Bank CEO

he President of the Ghana Football Association (GFA), Kurt E.S. Okraku has paid a courtesy call on the Chief Executive of First National Bank Ghana, Dominic Adu. The visit was to seek the support of First National Bank in the development of Ghana’s football, foster a mutually beneficial relationship between the bank and GFA, and to align on strategies for working together in the future. Welcoming the GFA delegation, Mr. Adu congratulated Mr. Okraku for coming out victorious in a keenly contested election for the GFA presidency. He encouraged Mr. Okraku to pick the best lessons and experiences that will help boost football as a sport in Ghana and further re-ignite the passion and love Ghanaians have for the game. Mr. Adu commented that football is indeed one of the greatest sports, and provides benefits not just for the players but the socio-economic

development of the nation as well. “The football game unifies us, and this is evident in our local communities,” he said. “Even though it requires little resources to set up at the development stages, it has the power to bring many of our people from various walks of life together. Mr. Adu emphasized the need to provide some more focus for colts football as it is key to community mobilisation and the fostering of the passion that emanates from the unity the game brings. The GFA president thanked First National Bank for the warm reception and expressed his admiration for the strides the bank is making in the Ghanaian financial market. “I’m particularly impressed with your drive for digitisation, which has become more relevant now than before,” Mr. Okraku said. He further reiterated the need for the bank to support football

development, the officials that run its administration and the players who thrive on the support of the fans to excel. Mr. Okraku praised the team at First National Bank for their willingness to help revive and develop Ghana’s football, citing the bank as worthy stakeholders for the FA. He took the opportunity to solicit the bank’s support for the Ghana Premier

League, which is scheduled to start from November 2020 and the qualifiers for the next African Cup of Nation. The GFA President was accompanied by his Executive Assistant, Mrs. Janice Odonkor, Head of Marketing of the GFA, Mr. Jamel Maraby, and the Vice Chairman of the Ghana Premier League Management Committee, Mr. Jesse Agyapong.

WEDNESDAY NOVEMBER 4, 2020

News

WEDNESDAY NOVEMBER 4, 2020

Gov’t’s 2-yr note rollover opens today By Joshua Worlasi Amlanu macjosh1922@gmail.com

Government will from today begin the process to roll over maturing two-year cedidenominated treasury notes with the opening of the order book to resident and non-resident investors, according to a notice published by the Bank of Ghana. This follows the release of the initial pricing guidance on Tuesday for the issuance of the notes, which will mature in 2022. Per the government’s debt issuance calendar for the last quarter, an amount of GH¢1.5bn is expected to be raised from twoyear debt in November, with a further GH¢1.2bn expected to be raised in December. In total, the government is aiming to raise GH¢22.2bn from domestic debt issuance in the last quarter, of which GH¢19.7bn will be applied to roll over maturing issues. The order book for the two-year notes is expected to be closed on Thursday, with the final pricing and allocation determined. The notes will be issued through Absa, Databank, Stanbic, Fidelity Bank and IC Securities acting as

book runners for government. Government debt strategy According to the government, its 2020 debt strategy focuses on an appropriate financing mix to mitigate costs and risks, and to achieve the desired composition of the public debt portfolio with respect to borrowing from external and domestic sources.

The financing strategy proposes issuances of government securities on the domestic market to create cash buffers on top of the programmed net domestic financing of the budget deficit. The strategy states that government will issue or reopen medium- to long-term instruments (2-year, 3-year,

5-year, 7-year, 10-year, 15-year, and 20-year bonds) and refinance some of the maturing Treasury bills and bonds. The strategy also plans to issue marketable and non-marketable debt against possible contingent liabilities arising from the financial and energy sectors in 2020.

The future is undeniably digital -- Ing. Ashigbey

hief Executive Officer of Ghana Chamber of Telecommunications, Ing. Ken Ashigbey has said the future is undeniably digital. He said technology was still moving at an increasingly fast pace, as every facet of life were now linked intrinsically to microchips in one way or the other. Ing. Ashigbey was speaking at the virtual TECH TALK forum organized as part of this year’s Huawei Seed for the Future programme, in Ghana. The Seed for Future programme is a global flagship Corporate Social Responsibility initiative gave 50 university students in STEM the opportunity to expand their scope in ICTs whiles advocating for more female participation. The intensive 5-days experience which was be held online, introduced students to new technologies, equip them with necessary skills to enable them identify and harness new opportunities in ICT whiles offering them the opportunity to meet and connect with top ICT

Kenneth Ashigbey, Chief Executive Officer, Ghana Chamber of Telecommunications

professionals in the tech space. He said the impact of Science, Technology, Engineering and Maths (STEM) lies in its role as an engine for global digitalization. He said without qualified graduates of these specialized subjects, there would be no internet, automation and no wonder surrounding the fascinating development in the field of Artificial Intelligence. A co-panelist Derrydean Dadzie,

the Co-Founder of DreamOval Limited and CEO of the Ghana Chamber of Technology, called on the youth to take advantage of the “pregnant” digital era to develop themselves. “The digital era is pregnant with a lot of opportunities for development,” he said. He said some of these opportunities were to provide content to meet the consumption cravings of digital citizens,

work in their own time and convenience, selling anything on line and acquire new knowledge for personal development. He said the digital era has increased integration of business tools, communication and social media interaction and organizational systems and structures and it has increased complexity and transparency. Mr. Dadzie said people were becoming more sophisticated in their request for uniquely gratifying experience and people were aware of their rights. The Co-founder called on the youth to equip themselves with the right tools and applications and they should spic their life with socio-digital tools like LinkedIn, YouTube, and Online courses. “The leveraging on degrees is diminishing,” he said. Kweku Essuman Quansah, a Deputy Managing Director at Huawei Ghana also admonished the participants to make use of the time they have on their hands now profitably. According to him they should use the time to learn about things that will equip them for the future.

WEDNESDAY NOVEMBER 4, 2020

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Feature

WEDNESDAY NOVEMBER 4, 2020

Headstart: A teen’s guide to financial freedom for young entrepreneurs

By Patrick Paintsil p_paintsil@hotmail.com

ighteen-year-old Janice Preko, a student of SOS – Hermann Gmeiner International College (SOSHGIC) in Tema has set out on a noble cause to help build a more financially secure future for young entrepreneurs, especially leaders of women-owned small and medium sized enterprises in Ghana and beyond. Her impressions from a short internship at a women-centered microfinance company kindled in her a longing to tackle a peculiar problem that has kept a majority of Ghanaian women below the line of financial independence. The best way to go about this vision and to make the most impact, to her, was to write a book. So, with her first literary piece, “Headstart: First Steps to Managing your Money”, existing and future women entrepreneurs, especially those running small and medium enterprises have a practical guide to set them on a path to both financial and business success. The vision: building an ecosystem of robust and viable women-led businesses with ready access to funding either through an enhanced savings culture, strong-willed action on financial literacy and inclusion or both.

She shared her motivation for writing the book: “I consider myself as someone who has identified a problem and wants to help solve it in a manner that I will be able to accomplish and hopefully will be impactful.” Janice learned a lot from her internship: the fact that the proportion of women-owned businesses in Ghana is about 46 percent—which is the highest in the world; that financial literacy best equips entrepreneurs to sustain their business regardless of economic conditions and that many women struggle when it comes to financing their business. Armed with this information, she embarked on extensive research on the causes and solutions to these challenges to support young people and aspiring entrepreneurs in her community. Headstart: First Steps to Managing your Money, which took six months to complete, is therefore a product of intensive research into topical issues around women and entrepreneurship including the lack of access to credit and bank accounts for women-led SMEs, poor savings culture in women and the need for enhanced financial literacy. The book is suited to the young and older reader. It is written in simple language devoid of the heavy, technical financial

jargon in order to help readers understand and apply the new knowledge acquired to their everyday lives and for maximum impact. It uses several practical examples from characters that the reader can easily identify with and whose financial journeys are aimed at inspiring readers to mirror. There is also a summary financial planner included in the book which enables the reader to put everything they have read in the book on budgeting into practice. “I felt that a book written by a teenager would resonate with more young people. I also hope that it brings a new perspective on finance; most finance books tend to be a heavy read and so not that engaging to the average person.” “My book is not too technical, it is very easy to understand and hopefully will allow readers to apply the concepts to their everyday lives,” Janice said. She also believes that financial inclusion and the culture of savings are key to poverty reduction and wealth building and hopes that through her book, people will get used to saving their money, starting with small amounts and increasing this steadily. “Starting small allows you to

develop the skill, discipline and mindset that fosters a savings culture,” she explained. As a means to boost financial literacy across the country, the writer has reached out to a number of local and international organisations that are running financial literacy programs to donate her books to them for training and capacity building. “It is my hope that Headstart will be used in several financial literacy programs across Ghana and dare I say across Africa to provide people with the resource they need to better understand finance and apply it to their day to day lives,” she added. She is however appealing to donors to support her to print more books for distribution to more institutions so more women and young persons can benefit. Looking into the future, Janice intends to embark on additional projects that will be impactful to the community. An area of particular interest is understanding the use of technology in societies and finding ways to bridge the digital divide. Also, with her non-profit company, Herposse, whose goal is to empower and inspire women entrepreneurs, she hopes to identify ways to help address some of the challenges facing women entrepreneurs in Africa.

WEDNESDAY NOVEMBER 4, 2020

Maritime

WEDNESDAY NOVEMBER 4, 2020

Volta Regional Minister commends GSA for shipper outreach

he Volta Regional Minister, Dr. Archibald Yao Letsa, has commended the Ghana Shippers’ Authority (GSA) for its shipper visitation and outreach programme. The commendation follows the end of the GSA’s four-day shipper outreach to the Volta Region which began in Aflao to Ho and Kpando where it interacted with importers, exporters, trade associations and municipal chief executives. The outreach programmes have been an avenue for identifying new shippers, reaching out to existing ones and having a one-on-one engagement with them to highlight the services of the Authority and also address any peculiar challenges they may have. Mr. Letsa gave the commendation when a team

from the GSA led by its Tema Branch Manager, Mrs. Monica Josiah paid a courtesy call on him last Friday. He appealed to the GSA to increase its shipper visitation and outreach programmes in the region and educate importers

and exporters on contemporary developments in the shipping and logistics industry to enable them make informed business decisions. For her part, Mrs. Josiah briefed the minister on the progress of the four-day shipper

outreach and also enumerated on some of the services and activities of the GSA. She informed the minister about the activities of the Volta Regional Shipper Committee (VRSC) which meet quarterly to discuss emerging shipping and logistics related concerns for redress. The VRSC, she said, boasts of three Committees in Aflao, Kpando and Ho and comprised shippers, shipping service providers and state regulatory and supervisory agencies whose functions have a bearing on the businesses of shippers. She, among others, reiterated the GSA’s commitment to protecting and promoting the interest of shippers in Ghana. In a related development, the GSA team also visited the M & B Seeds and Agricultural Services Ghana Limited, producers and distributors of quality seeds and providers of efficient agric services.

CMA CGM acquires second LNGpowered 23,000 TEU giant

T Shippers cautioned against illegal shipping transactions

he Ghana Shippers’ Authority (GSA) has cautioned importers and exporters to stop engaging in illegal activities in their shipping transactions. Shippers who under-declare the value of their goods to evade taxes, forge documents and engage in other breaches of the law will not be assisted by the GSA when they encounter challenges resulting from their illegal dealings. The Tema Branch Manager of the GSA, Mrs. Monica Josiah sounded the caution during the 60th Volta Regional Shipper Committee (VRSC) meeting for members of the Kpando Committee of the VRSC last Thursday. She advised shippers to get their documentation processes

right and abide by other regulatory requirements. This, she said, will elicit the GSA’s assistance to readily address shipment and logistics related challenges faced by importers and exporters. In a related development, Mrs. Josiah also paid a courtesy call on the Municipal Chief Executive (MCE) of the Kpando Municipal Assembly, Mr. Ernest Quist. The two institutions discussed issues on areas of collaboration to deepen their relationship for the benefit of shippers and businesses in the municipality. The Branch Manager, together with a team from the GSA, also visited potters in Kpando and interacted with them to understand their shipment concerns on export.

he CMA CGM Champs Elysees has joined CMA CGM Group’s fleet as the company’s second 23,000 TEU containership powered by liquefied natural gas. The giant vessel is a sister ship to CMA CGM’s flagship, the CMA CGM Jacques Saade, which was delivered to the French major in September. Measuring 400 meters in length and 61 meters in width, the two ships are the world’s largest container vessels to run on LNG at the moment. The CMA CGM Champs Elysees was blessed and officially named by her Godmother, Dany Qian, Vice President SSE at Jinko Solar, who wished the ship, the captain and its crew the best of luck on their future voyages. The newbuilding is set to join CMA CGM’s French Asia Line service. Like its sister ships, CMA CGM Champs Elysees will bunker LNG from the MOL-owned and Total-chartered Gas Agility that arrived in Rotterdam in August this year. The French liner major ordered nine 23,000 TEU ULCVs powered by LNG as part of its 2050 objective of attaining carbon neutrality.

LNG has been identified by the market as the likely bridging fuel as the shipping sector strives to decarbonize its operations in line with the IMO goals. The sea giants are being built by CSSC’s Hudong and its unit Jiangnan. They will feature WinGD’s dual-fuel engines and GTT’s 18,600-cbm fuel tank, both largest ever built. In addition to LNG engines, the vessels’ cockpits feature cutting-edge digital onboard technology to assist the captain and crew, especially during port maneuvers. The ships have a straight bow with integrated bulb, rudder and propeller with a redefined design that improves their hydrodynamics, thus reducing energy consumption. All vessels from the series will be registered at the French International Register (FIR), and they will bear the names of landmark Parisian monuments and other renowned venues and institutions from throughout the French capital. The 9 vessels will bear a specific “LNG Powered” label that will be recognizable on all seas across the globe. Worldmaritimenews.com

WEDNESDAY NOVEMBER 4, 2020

Mining

WEDNESDAY NOVEMBER 4, 2020

AngloGold Ashanti free Cash flow rises 290%, dividend payout ratio doubled

ngloGold Ashanti delivered a near fourfold increase in free cash flow in the third quarter of 2020, driving its Adjusted net debt to its lowest level in almost a decade and supporting the decision to double its dividend payout ratio. The Company will pay shareholders 20% of its free cash flow before accounting for capital expenditure in growth projects, up from 10% previously. The Company will also double the frequency of payouts from the current annual dividend declaration, to semi-annual payments. “We’ll continue to enforce capital and cost discipline to deliver strong cash flows in this elevated gold price environment,” said Christine Ramon, AngloGold Ashanti’s

AngloGold Ashanti interim CEO Christine Ramon

Interim Chief Executive Officer. “Doubling our dividend payout ratio demonstrates confidence in our ability to both improve direct returns to shareholders and to self-fund our growth projects and sustaining capital requirements.” Free cash flow rose to $339m for the quarter ended 30

September 2020, a 290% increase from the $87m generated in the comparable quarter of last year, helped as a result of lower costs from continuing operations, lower capital expenditure and a 30% higher gold price received. This figure excludes the $200m of proceeds received for the sale of its South African operating

assets on 30 September 2020. Cash inflow from operating activities was up 56% to $551m from $354m in the same period last year. AngloGold Ashanti has streamlined its portfolio, having completed the sale of its operating assets in South Africa and progressing the sales processes in Mali, while prioritizing reinvestment in its portfolio to increase reserves, extend mine lives and improve operating flexibility. The Obuasi Redevelopment Project, financed from internal cash flows, continued itsrampup during the third quarter of 2020, delivering a 52% quarteron-quarter increase in output, taking total pre-production output to approximately 100,000oz. Source: anglogoldashanti

Mali’s auditor general recommends review of mining contracts

ali’s transitional government aims to review mining conventions signed with companies by the previous administrations, interim President Bah N’daw, said late on Friday following recommendations from the country’s auditor general. Mali is one of Africa’s largest gold producers. Companies operating in the country include Barrick Gold and AngloGold Ashanti and Resolute Mining. “The conventions establishing mining companies include clauses which do not always guarantee the protection of the interests of the state,” Auditor General Samba Alhamdou Baby said after handing his report to the interim president. “In particular the nondistribution of dividends, the non-payment of certain taxes, to which is added the existence of unjustified loans, all of which deprive the State of financial resources,” he said. He added that a review of the conventions would better protect

the interests of the state while respecting incentives for mining companies. Parliament approved a new code in April that eliminates mining companies’ value added tax exemptions during production and shortens the period during which they are protected from fiscal changes to 20 years. N’daw said the recommendations were instructions to the interim administration, which he said would make the mining sector a priority during its 18-month term. “I will assure you that everything will be done so that the state assumes its responsibilities and receives from the mining sector what is due to it,” N’daw said. Mali’s transitional government was appointed early this month following the Aug. 18 military coup that ousted the government of President Ibrahim Boubacar Keita. Source:miningweekly

Africa Downunder to feature live feeds of African presenters

he upcoming yearly mining forum Africa Downunder (ADU) will connect African and Australian explorers, miners and investors during its virtual hosting from November 4 to 6. The event will be held at the Pan Pacific Hotel in Perth, Australia, as well as be broadcast live. This year’s daily agendas will commence near lunchtime in Perth to ensure live feeds to African politicians, high commissioners and senior mines department personnel from across Africa. Executives from Australian miners in Africa will be in Perth to present in-person. The forum comes at a time the African mining sector is continuing to rebound.

However, the implications of the Covid-19 pandemic and how such impacts are being handled within Africa’s mining industry will also form part of the programme’s discussions. Australian mining’s contribution to the African communities around which they operate is also set to have a high profile in the discussions, particularly with the strong focus in more recent years on inclusive health, community support programmes and enhanced risk mitigation protocols. According to organisers Paydirt, the 17-year old forum remains the largest global business gathering on Africa outside of that continent. Source: miningweekly

WEDNESDAY NOVEMBER 4, 2020

Feature

WEDNESDAY NOVEMBER 4, 2020

Basic and practical HR tips for SMEs

mall businesses can often make human resource blunders that hurt profits and prevent them from growing, which is crucial because statistics show that only half of startups will survive long enough to celebrate their fifth anniversary. When it comes to HR support for small businesses, there is a lot more to consider than just creating a safe and happy workplace for your employees. Of course, you want to build an environment where your employees enjoy coming to work, but the HR world is a little more complex than that. There are best practices involved in setting up a proper HR system for your business. In many instances when people start smaller businesses and when they start to grow, they don’t give thought in the forefront to things that will affect them in the longterm. One of such thoughts is Human Resources. To increase the chances of survival, experts offer small businesses these HR tips: Develop an employee handbook. A lack of a written policy and an employee handbook can be costly. Every business needs an employee handbook. Consider it your safeguard in case of any disputes. In the manual, outline your employee expectations and your company’s operating procedures. Require every employee to sign it on first day of work and once again each year following. It’s also good HR practice to review and revise your handbook at least once a year. Employee handbooks should include workplace policies that are easy to understand, fair and consistent. Employee Onboard Small businesses waste time and lose business opportunities by not prepping employees before the first day of work. Get new employees business cards, a telephone line and benefits forms before their first day of work so they can hit the ground running. If it is possible small and medium businesses automate collecting paperwork to ensure that new employees complete and hand in all needed documents on their first day at work. It is also important to let new employees know what tasks they need to complete before their first day. Comprehensive benefits package. Benefits packages are not one-size-fits-all. The more you

know and understand your employees, the better you can meet their needs. Generous packages include competitive (and affordable) health insurance plans, paid sick leave, paid time off and transportation allowance. A strong package will add value to your employees’ overall compensation. Mismanaging payroll is a fast track to losing your employees’ trust. Every pay day must be correct. Paying employees on time is critical, too. Set a strict payment schedule and stick to it. Also, make sure you are compliant with the rules around correctly classifying your employees. Some small and medium business employers classify employees as independent contractors to avoid having to cover them under Workers’ Compensation Insurance and pay payroll taxes. If employees are misclassified, then small businesses could end up having to pay back payroll taxes and benefit costs on top of fines and penalties from the Ghana Revenue Authority (GRA). Violations of Labour Laws can lead to costly fines and penalties. Documentation requirements. What kind of information belongs in an employee file and how do you keep it confidential? Remember there are rules for that too. It is important to document your employees and learn how to properly maintain and secure their files. This kind of documentation comes in handy in case a situation with an employee arises. Performance Evaluation The reason for evaluating employees is to measure job performance and to help employers determine whether an employee’s skill set is matched to the job description. It is important to understand their strengths and weaknesses, provide training and development and recognize and reward good performance. Many small companies hire and fire talent based on “gut feelings” and then live to regret the decision. Employees who are discharged on a whim can sue for unfair termination or file a claim of discrimination at National Labour Commission (NLC). Employment-related lawsuits can be costly, and small business owners can do themselves a favor by crafting a performance contract for employees and putting a job performance evaluation plan in place. It is important to regularly schedule performance or evaluations meetings between

line managers and the employee (for example, at 30 and 90 days for new employees) and provide Line Managers questions they should ask during these meetings so they can more easily measure performance. Documentation is important, too. Many small employers tend to think that if they do not document employees’ relations situation, liability will be reduced as the employees will not have anything to use against them. However, this is actually the opposite. Documentation of employee relations situations allows the employer to prove that proper action was taken, especially in the event of disciplinary for poor performance. This will prove that the employee involved was informed of the need to correct the behaviors, improve performance and warned of the potential for disciplinary action up to termination if need be. HR Legal Compliance Understanding employment law is by far one of the most important HR tips for small businesses. Regulations cover nearly every aspect of recruitment, retaining, and terminating employees, compensation, benefits and safety. The Labour laws have not changed, not even during COVID-19. Any business that breaches the law will be held accountable. Therefore, SME’s should start familiarizing themselves with employment law. It is also advised to engage the services of HR Consultants and lawyers to support them. Mistakes happen and employment issues may arise in which you may need a good lawyer to help. Having a reliable lawyer for your business can help protect against lawsuits or any employee issue that is not within your control. Join a network of other small and medium businesses. You are not the only business navigating the HR situation. It is advised that small businesses join a professional organization or chamber of commerce to network with other small business owners. When you join a community, you can share your experiences and learn from other’s successes and mistakes. Successful small business owners know the importance of forming partnerships, and those that fail often try to do too much on their own. Partnering with HR Practitioners can help recruit, retain, manage, and grow a small or medium businesses’ workforce, while employees can concentrate on the business and focus on their customers, products and services.

Conclusion These tips for HR professionals should help small businesses get started on the components that are most important to your organization’s success. It helps employers navigate and prepare both themselves and their businesses in the world of human resources. Managing HR, especially in a small business, can sometimes feel overwhelming. However, with the support of HR Practitioner and / or consultants everything will be ok. These HR tips for small and medium businesses are just a guideline of what you need to do as a business owner and an employer. It helps you navigate and prepare both yourself and your business in the world of human resources. Authored by: Mrs. Margaret TitusGlover Margaret is a certified HR Professional with over 14 years of combined experience in Human Resource Management. A creative thinker, problem solver and decision maker whose experience is in helping start-up businesses develop strong HR policies, procedures and processes. She is experienced in HR Strategy, Benefits Management, Recruitment and Retention Strategy, Performance Management, Orientation/On boarding Programs, Recognition Programs, HR Compliance, Compensation, Employment Policies, Employee Engagement Initiatives and Professional Development. Are you a passionate small business owner and looking to expand or improve your HR capabilities and create a successful plan for growth and sustainability? Then MS Staffing is the right company for you. Contact MS Staffing on: 0248036563 | info@msstaffinggh. com | www.msstaffinggh.com | Facebook: msstaffinggh | LinkedIn: MS Staffinggh

WEDNESDAY NOVEMBER 4, 2020

WHITE PAPER

November 2, 2020

Neither the NPP nor the NDC has a permanent electoral advantage in Ghana, analysis of 1996-2016 election data shows. Outlook and implications • None of the two main parties has a dominant edge; the geographical distribution indicates NPP safe constituencies are predominantly located in the Ashanti (36 constituencies) and Eastern Regions (12 constituencies). • The NDC safe constituencies, on the other hand, are more regionally spread out despite the greater majority being in the Volta Region (18 constituencies). • Ghana has become relatively more NPP over the course of the past three elections, measured by the change in votes between 2008- 2016. • No party can do without winning the coastal regions (Greater Accra, Central and Western Region) in any election Ghana heads to the polls on 7 December to elect a president and 275 parliamentarians who will govern the country for the next four years (2021- 2024) under the Fourth Republic. The poll will, however, be taking place with the spectre of the coronavirus (COVID-19) pandemic still looming and its potential economic fallout yet to be fully understood. This is particularly important, given that Ghana’s two main political parties, namely the National Democratic Congress (NDC) and the New Patriotic Party (NPP) have recently announced their manifestos as their “social contract” with citizens amidst what is expected to be a keen electoral contest. It is often inferred or suggested that some ‘swing’ regions such as Greater Accra, Central and Western hold the key in determining which party wins elections in Ghana. However, to what extent is this ‘swing region theory’ true, and how do we statistically break these down? iRIS Research has developed a framework for grading and rating a constituency, based on historical voting patterns and vote margins between the two main political parties – NPP and NDC. We use constituency presidential voting data from 1996 to 2016. Based on parameters from the data, we have developed the following rating and grading scale (which is subject to change based on new poll data): A constituency is not competitive, and one party has a clear and significant advantage: The average winning margin is greater or equal to 28 percentage points. One party has an advantage in the constituency, but an upset is possible: The average winning margin is greater than 12 percentage points but less or equal to 27 percentage points.

The constituency is competitive, but one party has a slight edge: The average winning margin is greater than 4 percentage points but less or equal to 12 percentage points.

These are the most competitive constituencies in which any of the two dominant parties have an equal chance of winning: The average winning margin is less or equal to 4 percentage points. This is within the margin of error.

Key Finding 1: None of the two main parties has a dominant edge; geographical distribution indicates NPP safe constituencies located in the Ashanti (36) and Eastern Regions (12) while NDC safe constituencies are more regionally spread out despite the greater majority being in the Volta Region (18). Our model shows that the NDC has 70 constituencies that are deemed ‘solid/safe’ while the NPP has 66 in the same category. Further disaggregation of the data shows that NPP’s ‘solid/safe’ constituencies are located in six (6) regions with the Ashanti region alone, accounting for 51% of the total. The NDC, on the other hand, has its ‘solid/safe’ constituencies spread out in 13 regions. The Volta Region, the party’s stronghold, accounts for 27% of the total. These estimates suggest that the NDC’s core support base is more geographically distributed across the country while the majority of the NPP’s base support is concentrated in the Ashanti Region.

Key Finding 2: Ghana has become relatively more NPP over the course of the past three elections, measured by the change in votes between 2008-2016. NPP has been gaining more votes than the NDC with every election cycle going back to 2008; our estimate shows an average gain of 27.5% for the NPP and 24.9% for the NDC, a net of 2.6% (Figures 2 and 3). This represents a net gain in votes of 956,861 for the NDC and 1,243,000 for the NPP. However, confirming the observations under Key Finding 1, the NPP’s vote gain is more concentrated in the Ashanti and Eastern Regions followed by Brong Ahafo, Greater Accra and Northern Regions. The NDC’s vote gain, on the other hand, has been in the Central, Upper East, Upper West and Western Regions (Figures 2 and 3). This trend in the shift of the electorate toward the NPP accelerated, even though it has since slowed down, after the end of Rawlings’ second term. Indeed, in the 2000 presidential elections, 17 constituencies that had voted for the NDC in the last two presidential elections ‘permanently’ switched to the NPP.

WEDNESDAY NOVEMBER 4, 2020

WHITE PAPER

November 2, 2020

Neither the NPP nor the NDC has a permanent electoral advantage in Ghana, analysis of 1996-2016 election data shows. Key Finding 3: No party can do without winning the coastal regions (Greater Accra, Central and Western Region) in any election. Every presidential candidate who has won Greater Accra, Central and Western regions under this Fourth Republic has also gone on to win the general elections. These three regions remain the only regions that have consistently voted for every winner of the presidential election since 1992. The key reason underlying the oversize role they play in determining the winner of the presidential elections is their combined relative share of the number of registered voters. Estimates from the just ended voter registration exercise indicate that these three regions account for 54% of all registered voters on the voters’ register. Therefore, one can conclude that their ‘swingness’ and combined

relative share of likely voters make them a must-win for any candidate who wants to win the presidency. Our analysis of all the constituencies in these swing regions indicates that combined, they account for 45% of all ‘lean’ and ‘toss-up’ constituencies (33 out of 73) or 9 out of 14 ‘tossup’ constituencies in the country (see Table below). From the Table, we also observe that even if you were to allocate to the NPP or NDC all constituencies that we rate as ‘likely’ or ‘lean’ in addition to the ‘solid’ constituencies, they would only have 130 and 131 constituencies, respectively (total: 261 constituencies). Given that a party needs to win a minimum of 137 constituencies to gain a simple majority in parliament, the winning party will have to pick up at least seven (7) constituencies from the ‘toss-up’ column. Moreover, with 9 (nine) out of the 14 of these constituencies located in the three swing regions, winning the regions becomes crucial.

Outlook and Implications

Work in progress

Overall, we find that for constituencies that have ever voted for the two parties before, the average vote margins in the last election before they voted for the party in the next election ranges from 0.06 to 27 percentage points. This finding indicates there is wide variability in the likelihood that a constituency votes for a different political party given that they have voted for more than one party in past elections. Also, adding to the compelling evidence that the road to Jubilee House goes through Central, Western and Greater Accra regions, we find that only nine (9) constituencies have voted for every winner of the presidential election; three (3) in Greater Accra, 4 in Central Region and 2 in Western Region.

iRIS Research Consortium is conducting two pre-election opinion polls on Ghana’s upcoming December elections. (1) A nationally representative and statistically weighted 2,500 face-to-face respondent survey based on 36 identified swing constituencies (14 toss-ups, 11 lean NDC and 11 lean NPP constituencies). (2) An 8,550-respondent constituency-level telephone survey based on 18 identified constituencies (14 toss-ups, two lean NPP and two lean NDC constituencies). For enquiries, contact. Tel: +233200005550 |+233558359609 Email: info@ irisresearchgroup.com

Dr. Khalid Musah mkhalid@irisresearchgroup.com Dr. John Osae-Kwapong josaekwapong@irisresearchgroup.com Dr. Theo Acheampong tacheampong@irisresearchgroup.com Public Opinion Polling Market Research & Data Analytics Research Design & Advisory Services Contact iRIS Research Consortium 6 Ashur Suites, North Legon Accra, Ghana, West Africa Tel: +233 200 005 550 Email: info@irisresearchgroup.com

WEDNESDAY NOVEMBER 4, 2020

Feature

WEDNESDAY NOVEMBER 4, 2020

‘My parents had hearts of gold, they didn’t deserve it’ In late March, Salvatore Forte’s father woke up shivering uncontrollably. “I’ve never seen him like that,” Mr Forte says. He called an ambulance to take his 80-year-old father to the hospital. It was the last time Mr Forte would see his dad alive. He died alone of Covid-19 in New York hospital. Two days later, his mother was also dead from the virus. “My parents… had hearts of gold and the way this all happened, they didn’t deserve it,” he says. For Mr Forte, the loss was unimaginable. A business owner, he is just one of many struggling through the pandemic in Bay Ridge, Brooklyn, a racially and economically diverse neighbourhood a few miles from Manhattan with a population of around 80,000. A closer look at the area reveals a snapshot of the terrible damage wrought by Covid-19. Countless loved ones have been lost. Businesses teeter on the brink of ruin. Lives have been upended. Mr Forte not only lost his parents, he is fighting to hold on to the popular brunch restaurant and gift store he operates on one of Bay Ridge’s high streets. “Running a small business is hard enough before this and it’s just even harder. And I don’t know how many people are going to survive. I’m doing day by day,” he says. And he’s not the only one. The bar owners Tony Gentile owns Lonestar Sports and Grill with his partner Tracy Blaise. It sits near the busy retail intersection at 5th Avenue near 86th Street. The Turkish diners, Chinese restaurants and Italian pizza joints hint at the neighbourhood’s diverse population. Lonestar, a Texas-themed pub with TV screens everywhere, is a reflection of the area’s traditionally conservative whiteand blue-collar community. The bar closed its doors in March as New York City went into lockdown. Ms Blaise calls that night “bittersweet”. She remembers getting into a row with a regular who was angry at being told to go home. Her husband recalls feeling fearful for his staff.

“They have apartments and bills to pay, and student loans,” he explains. Initially, New York’s bars and restaurants were only allowed to offer takeaway and delivery. So Lonestar, which once relied on alcohol sales to make money, pivoted to selling food. For the family, it’s meant all hands on deck. Their son Tyler now does deliveries - the main source of income for Lonestar since the health crisis began. “They’re definitely struggling a lot, I can tell,” he says on his way to drop off an order. With the reduction in sales Mr Gentile and Ms Blaise are finding it hard to meet all their expenses. Lonestar has let go of half of its 21 staff and is struggling with rising food and cleaning costs. “We have bill collectors knocking and banging on the door all the time,” explains Ms Blaise. As many as half of the city’s bars and restaurants will go bust in the next six months as a result of the pandemic, according to New York state comptroller Thomas DiNapoli. Despite the dire forecast, Mr Gentile has no plans to quit. “This place used to be hopping,” he says wistfully. “It can still be that way.” On 30 September, indoor dining returned to the city for the first time since the start of the pandemic at 25% capacity. But Mr Gentile says it’s not enough.

Away from the neighbourhood’s busier blocks, Bay Ridge can feel distinctly suburban. On one of its quieter residential streets, Andrew Sapini gets ready to go to work. He joined Bravo Volunteer Ambulance as an emergency medical technician at a time when the city was facing a shortage of crew. At 20, he is one of its youngest members. “It was pretty crazy and scary,” he says reflecting on the early days of the virus, which has claimed more than 20,000 lives in the city. As a second-year university student in Massachusetts, Mr Sapini shouldn’t have been in Brooklyn at all. But when his college suspended classes in March, he moved back home with his parents in Bay Ridge. His courses moved online. “We would hear on the news how things were getting worse,” he remembers. “We thought it wouldn’t really affect us that much.” Several months later, the virus has shifted the way he sees life after graduation. Serving as an EMT in New York City during the coronavirus pandemic has solidified his aim of going into medicine. “I feel like I am prepared for this,” Mr Sapini says. This autumn, he has returned to college where he is helping to administer Covid tests.

The student

With many in the area in desperate need, charities are

The community organiser

under increased pressure. Mohamed Bahe is the founder of the volunteer group Muslims Giving Back, which caters to the neighbourhood’s Arab American community. During the pandemic, he turned his mosque into a food bank helping working class immigrant families. “Once the lockdown was announced, there was a surge,” he says, of families coming to him for help. By May, 125 families were receiving food from the mosque. Once a week Muslims Giving Back travels into Manhattan to feed the homeless late at night. While many New Yorkers sheltered in place to protect their health and limit the spread of the virus, Mr Bahe chats and jokes with those waiting for their food. “We realized a lot of churches, places of worship that had soup kitchens closed,” he explains. As word spread that someone was giving out hot meals during the city’s lockdown, the queue doubled overnight. For Muslims Giving Back, the demand for help has slowed as restrictions in the city have eased. But there are still plenty in need. Mr Bahe says he’s more nervous about the economic crisis than the health crisis. He fears people who have lost their jobs will next lose their homes, and reliance on charity from the community will grow. “For me, that’s the true second wave that’s coming.” BBC

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