1
FRIDAY JUNE 25, 2021
Fan Milk Ghana impacts lives of 50,000 people daily – Edwin Amoako
Absa Bank taps into Ghana’s US$3.6 billion remittance market
See page 9
See page 13
BUSINESS24.COM.GH
NO. B24 / 213 | NEWS FOR BUSINESS LEADERS
FRIDAY MONDAY JUNE MAY 25,3,2021 2021
Customs asks banks to help tackle import duty fraud By Benson Afful affulbenson@gmail.com
T
Digital currency will advance cashlite economy— BoG By Patrick Paintsil
he Customs Division of the Ghana Revenue Authority (GRA) has urged commercial banks to help the authority determine the real value of imported goods by sharing information on declarations traders make to their banks. The division said it faces challenges in properly determining the value of imported goods of traders who undervalue or overvalue their invoices.
p_paintsil@hotmail.com
G
overnor of the Bank of Ghana Dr. Ernest Addison has said the bank’s latest move to introduce a digital currency for trade will foster competition in the financial space, advance financial inclusion, and drive Cont’d on page 3
Cont’d on page 2
Banks ready to finance multinational deals, says FBN Bank CEO By Benson Afful affulbenson@gmail.com
T
he Chief Executive Officer of FBN Bank, Victor Yaw Asante, says banks in the country are now better placed to collaborate to finance multinational trade deals, which in the past would have been done by external banks.
Victor Yaw Asante, CEO of FBN Bank Ghana
Cont’d on page 2
‘Next wave of investments to Africa must be forward-looking’ By Eugene Davis ugendavis@gmail.com
T
he Ghanaian diasporan community needs to take advantage of the opportunities presented by the African Continental Free Trade Area (AfCFTA) by Cont’d on page 5
Follow us online: facebook.com/business24gh twitter.com/business24gh linkedin.com/pg/business24gh instagram.com/business24gh
Cont’d on page 2
2
Editorial / News
FRIDAY JUNE 25, 2021
Editorial
Calls to reform fertiliser subsidy programme apt
T
he Ghana Agricultural and Rural Development Journalists Association (GARDJA) is making an apt call for reforms in the implementation of the fertiliser subsidy programme. According to the group, alleged corruption, poor management, outright stealing and smuggling have blocked farmers, who are to benefit from the programme, from accessing the commodity. Buttressing their findings is the recent disclosures by the Planting for Food and Jobs Secretariat that Ghana lost a whopping GH¢120 million from unaccounted for subsidised fertilisers, diversion of coupons and smuggling in the 2017 and 2018 planting seasons alone.
Apart from the wanton show of abuse of the public purse, the phenomenon, if allowed to continue, will obviously be a threat to the sustainability of the fertiliser subsidy scheme and a threat to the nation’s food security as a whole. Farmers’ productivity remains low and that is obviously a source of worry as increased application of fertilisers remains key if we were to see better productivity on our farm fields. We side with the group’s call to the Food and Agriculture Minister to set up a committee to review the operations of the Fertiliser Subsidy Programme since it was launched in 2008. We also share in the view
that putting farmers at the centre of the programme will be a sustainable and long-term solution to the issues confronting its implementation. Now is the time for government to act in the interest of farmers and food security. The agricultural sector remains one of the most vibrant sectors of the economy and demonstrated its resilience when the pandemic struck last year. The least we can do now is to look on as some of these acts of sabotage continue unchecked. Persons found culpable must be made to pay dearly for these unpatriotic acts carried out ostensibly to line up their pockets.
Customs asks banks to help tackle import duty fraud Continued from cover
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 well-informed. We value your support and loyalty. Contact Email: hello@thebusiness24online.net Newsroom: 030 296 5315 Advertising / Sales: +233 24 212 2742
“The declarations they (traders) make to you in the bank, the transfers that you make on behalf of the traders can be a very good source of information for our determinations and our operations, especially import and export,” said Fechin Akoto, a senior Revenue Officer who spoke on behalf of the Commissioner of Revenue of Customs Division, GRA, at the FBN Bank National Trade Forum in Accra. He said for every import, the GRA has to determine the customs
value—which is governed by World Trade Organisation (WTO) rules and processes—in order to determine the duties payable. According to him, in instances where sincere declarations are not made by the importer or exporter, it becomes very difficult for Customs to determine the right value in order to levy them. “When the banks come in, it makes it a little easier for us and even the collection of the revenue,” he said. Mr. Akoto added that the GRA has gone through a lot of transformation and
modernisation over the last few years and now sees importers as partners. “We treat them more as collaborators. We have a whole joint consultation to iron out our differences and other things, and with the African Continental Free Trade Area (AFCTA) coming in, it gives us a lot more responsibilities to make sure that we implement the agreement to the letter.” Speaking at the same forum, the chief executive officer of the Association of Ghana Industries (AGI), Seth Twum Akwaboah, said the association has a number of issues with the current tax system. “We think that [the tax system] is not very supportive of export and local industrial development. But that’s not really the work of Customs; it is at the policy level. So, at the policy level, we still have an issue with the benchmark value policy because we think that it is not positively promoting local industry to be competitive in exports.” Again, on factors affecting the competitiveness of local industry, he said some importers still do not pay the right duty on their goods but are able to clear them at the port.
3
FRIDAY JUNE 25, 2021
Banks ready to finance multinational deals, says FBN Bank CEO Continued from cover Speaking at the FBNBank@25 National Trade Forum in Accra, which discussed the topic “Promoting trade between Ghana and the rest of the world”, he said
such collaborations are helpful, as some trade deals are very big and would need other banks to come together to share the risk. “Over my two decades of banking, I can say that we are in a much better place to do that
now. We need that because risk sharing is very important and, sometimes, the force of numbers also helps. So if there are four or five banks in a deal and there are issues, collectively, we can resolve them better than when it’s just
one bank,” Mr. Asante said. He explained that local banks have become well-capitalised since the reforms in the industry three years ago, with most banks having at least US$100m in capitalisation. “You will see that the banking assets have grown significantly in the last three years, so it will also mean that more linking can be done.” He added that banks are doing a lot of structured trade and also educating clients on how to use trade documentation to facilitate trade. According to him, these developments have improved the environment around lending, in addition to the establishment of the Export-Import Bank that is also playing a specific role to make sure that exporters are receiving support. According to the World Bank, in 2019, trade contributed about 71 percent of Ghana’s GDP. This, Mr. Asante noted, tells the significant value that trade delivers to the economy. The forum served as a catalyst for improvement in how Ghana’s trade is undertaken and brought to the fore ways in which relations with stakeholders and the country’s partners can deliver more benefits.
Digital currency will advance cash-lite economy—BoG Continued from cover the nation towards a cash-lite economy. Earlier this month, the central bank announced plans to start a three-phased pilot of the nation’s first digital currency, called E-Cedi, to determine its feasibility and subsequent circulation. Speaking at the Chamber CEO Business Forum in Accra, the governor said the e-currency reflects advancements in financial innovation and will promote efficiency and stability of payment systems. To perk up innovations in the financial space, the bank has set up a regulatory sandbox that will enable fintechs and financial innovators develop various products and models to address the gaps in the market, and consumer needs in a timely manner, he added. “Adding to these developments is the ongoing merging of biometric ID’s with other national databases to enhance
transparency, facilitate seamless transactions, and reduce cost of doing business. This will broaden the scope of Ghana’s economywide digitalisation process.” The forum, organised by the Ghana National Chamber of Commerce and Industry (GNCCI), convened top entrepreneurs and business executives to deliberate on topical business issues and solicit views and recommendations for sustained growth. Governor Addison tasked businesses to shift from “business as usual” to build resilient innovative strategies that will ensure long-term value and sustainability in the postpandemic era. He said both the central bank and government’s policies and structural reforms seek to reposition and improve business competitiveness for long-term growth, and to help them leverage emerging opportunities. “They will also position Ghana as a competitive destination for
other African businesses and investors,” he added. The forum was on the theme
“Redefining Business Success: The Path for Business Value, Resilience and Sustainability”.
4
FRIDAY JUNE 25, 2021
5
News
FRIDAY JUNE 25, 2021
‘Next wave of investments to Africa must be forward-looking’ Continued from cover increasing trade and investment engagements with the country, the Secretary-General of the AfCFTA Secretariat, Wamkele Mene, has suggested. Speaking at the closing of the maiden Ghana Diaspora Investment Summit in Accra, Mr. Mene said tapping into the AfCFTA would enable diasporans take advantage of the continental market size of more than one billion people with an aggregate gross domestic product of $3.4trn. According to him, “the next wave of investment into African markets should be forwardlooking, focusing on sectors that will define the continent’s growth in the coming years.” He added: “The past decade saw FDI flow into areas such as telecommunications, consumer products, and industrials, but mobile penetration, Covid-19 dynamics, and growing energy demand are creating
opportunities in new sectors including the following: infrastructure, agro-processing, financial technology (FINTEC), energy, and healthcare.” He said efforts to attract the diaspora could focus on three key economic areas: investments, knowledge and skills, and trade facilitation. In terms of investments, he stated that mechanisms could be put in place to tap the diaspora as preferred foreign direct investors in continental development projects. “Today, the case for investing in Africa is stronger than ever. Africa will remain a competitive investment destination for decades to come because of its improving relative risk profiles, demography and continental integration. I encourage African diasporans to invest in the Africa market. The time is now to invest in Africa. I invite you to join us as we integrate our economies and fulfil the dreams of the
Wamkele Mene, Secretary-General of the AfCFTA Secretariat
founding fathers of the OAU/ AU, and thereby assist you in expanding your businesses on the continent.” Minister for Finance Ken OforiAtta encouraged diasporans to consider investment opportunities in Ghana and added that government has in place some interventions for them.
The two-day summit sought to engender a more constructive interaction with Africans in the diaspora and all people of Africa descent in areas such as trade and investment. It was under the theme “The New Normal, Leveraging Diaspora Investments to Build Back Better”.
Business sector highly volatile—GNCCI boss By Patrick Paintsil p_paintsil@hotmail.com
A performance assessment of some 3,000 companies by the Ghana National Chamber of Commerce and Industry (GNCCI) in the pandemic period has shown relative volatility across the business landscape. The survey, which focused on key areas of business value, growth, resilience and risks, also revealed that local enterprises
were mostly exposed to firmspecific risks and industry instabilities. According to the president of the chamber, Clement OseiAmoako, the situation requires enterprises to critically examine a portfolio of new strategies that merge business profitability with resilience and sustainability to be able to survive in the postpandemic era. In an interview with journalists at the chamber’s CEO Business Forum in Accra, he said
business owners can no longer measure business success and performance solely in the context of profit, turnover and brands. “We’ve realised from our research department that a lot of businesses are folding up, and it stems from the fact that some of them have not put in sound measures that are resilient to support their businesses going forward. Some of the companies also have managerial deficiencies as the reason for the non-
performance of the business. Having identified their problems, the chamber will hold their hands and support them to come out of the distress,” he said. The Chamber CEO Business Forum is one of the policy dialogue sessions of the GNCCI which provides a high-level platform for business executives, entrepreneurs and industry experts as well as policymakers to discuss topical issues and make policy recommendations for the sustainable growth of domestic enterprises. Mr. Osei-Amoako said of the event: “With this forum, we have engaged all stakeholders including the banks and policy makers to brainstorm solutions to some of these problems. Whatever decisions taken here will be tabled and directed to the appropriate quarters for the right actions that will enable those businesses to rebound.” He reiterated the chamber’s commitment to the growth of the nation’s private sector, adding that it would maintain a proactive relationship with government in that regard. The forum was on the theme “Redefining Business Success: The Path for Business Value, Resilience and Sustainability”.
6
FRIDAY JUNE 25, 2021
7
News
FRIDAY JUNE 25, 2021
Standard Chartered Bank rawards winners of Season of Surprises
S
tandard Chartered Bank has awarded the grand prize of a sleek Citreon C5 Aircross vehicle to Ms. Margaret Yeboah, businesswoman, for emerging the ultimate winner of the bank’s Season of Surprises campaign. Speaking at the presentation ceremony at the bank’s head office in Accra, Mrs. Yvonne Gyebi, Head, Consumer, Private and Business Banking at Standard Chartered Bank said the campaign launched last year to put smiles on the faces of its cherished clients after a rather difficult 2020 has been successful. “Indeed, 2021 started with so much optimism and afforded us the opportunity to continue to reward our clients for another 3 months. So far, hundreds of our clients have won various prizes including the super exciting 60-second shopping spree opportunities at Shoprite Supermarket and free fuel. As we award all our Grand Prize winners, I wish to remind our clients that banking with Ghana’s most Credible and No. 1 Digital Bank, Standard Chartered, is not
Ms. Yeboah (second from right) waiting to receive her prize
only seamless and convenient but rewarding. I, therefore, urge all our existing clients to fully utilise our SC Mobile platform, which is literally a bank in your palm for all your investment purchases, day to day payments as well as information updates.
There were other prize presentations including two Ps5 consoles, a TV, and a weekend stay for two at the Aqua Safari Resort in Ada. To be eligible for contest, all clients needed to do was download the SC Mobile App from
either the Google Playstore or the Appstore to open an account and deposit multiples of GH¢200. For existing account holders, all they had to do was to continue using SC Mobile while depositing multiples of GH¢200 to qualify for the draw.
Teachers’ association revives 8-year-old plan to set up universal bank
T
he Ghana National Association of Teachers (GNAT) has revived its plans to establish and operate a universal bank by 2023, as it seeks to invest in profitable ventures to
maximise returns on the Teachers Fund (TF). GNAT has since created a sinking fund from the TF to raise the minimum capital requirement set by the central bank among
other provisions in the licensing regime. The total value of the TF’s asset has grown in excess of GH¢2 billion, Chief Executive of the Fund Foster Buabeng told GBC News at a teacher investment forum in Accra.
“We are seeking to further diversify our investment portfolio and commercial banking is a key target,” he said. Pending regulatory approval, the proposed teachers bank will become the first universal bank set up by a worker union in Ghana’s history. The union’s plan to establish a bank first emerged in 2013, but discussions stalled over undisclosed challenges. Diversifying Investment Portfolio Managers of the Teachers Fund are exploring ways to maximize returns and enhance teachers welfare as part of its 90th anniversary celebrations. It has currently invested in airport ground handling firm Aviance, Unique Insurance and Credit Mall which advances loans to members of the Association. “We are restructuring Credit Mall to make it more liquid to support teachers with loans,” General Secretary of GNAT Thomas Musah told the media. According to him, latest by October, TF will acquire a life insurance company to guarantee financial protection to teachers.
8
FRIDAY JUNE 25, 2021
9
News
FRIDAY JUNE 25, 2021
Access Bank launches Womenpreneur Pitch-a-ton Season 3 to empower female entrepreneurs across Africa
A
s part of the Bank’s commitment to empower female entrepreneurs with financial and business skills, Access Bank Plc. has unveiled the third edition of its Womenpreneur Pitch-a-ton Africa programme. The Womenpreneur Pitch-a-ton Africa programme is designed to provide female owned businesses across Africa an opportunity to access finance, world-class business trainings as well as mentoring opportunities. This programme has been designed to create an enabling environment for female entrepreneurs to grow their businesses. Highlighting the Bank’s objective for the third edition of the initiative, the Managing Director of Access Bank Ghana, Olumide Olatunji said, “Access Bank has been a leading advocate for women’s economic empowerment in Africa and this is the key motivation for the ‘W’ Initiative, which caters to the women economy in the areas of financing, capacity building and networking opportunities for women.” The Group Head for Retail Banking in Access Bank Ghana, Matilda Asante-Asiedu, further stated that: “we launched the first Womenpreneur pitch-a-ton
Dorcas Babet Kwofie – CEO of Babet Agro Enterprise (2nd prize winner of 2020 competition)
initiative in 2019 in line with our value proposition to be the No. 1 Bank of Choice for women in Africa, and we have received over 100,000 applications over the last 2 years. In 2020, despite the pandemic, the Bank was able to expand the programme to other female entrepreneurs across 7 African countries with 3 winners emerging from Sierra Leone, Ghana and Zambia out of 50 finalists. This year, the Bank is making the programme bigger and better by increasing
the numbers to 100 women entrepreneurs who will emerge as finalists. The programme will also be opening up to a total of 9 African countries – Nigeria, Ghana, Zambia, Rwanda, Mozambique, Kenya, Democratic Republic of Congo, Sierra Leone and the Gambia”. The 2021 Womenpreneur Pitch-a-ton Africa programme which officially kicked off on Monday, June 21 will end on Friday, August 13, 2021. This will offer financial grants, an exclusive certified capacity
building program and business coaching aimed at empowering women entrepreneurs. Interested female entrepreneurs who meet the criteria of having an existing business for at least one year as well as a minimum of 50% female ownership and between the age ranges of 18-45 years are eligible and required to fill an online application on www. womenpreneur.ng. All online applications will be reviewed and screened by independent business experts to five hundred (500) candidates who will be required to send in a sixty-second video pitch for the opportunity to be selected as part of the final top 100 candidates who will benefit from an exclusive and certified MiniMBA and grant prizes. The programme is a 3-month competition comprising 12 weeks of mini-MBA training in collaboration with the International Finance Corporation (IFC) and pitching sessions to a Pan-African Jury panel. The top one hundred (100) finalists will pitch their businesses, infusing learnings from the mini-MBA and will stand an opportunity to win financial grants and other consolation prizes.
Fan Milk Ghana impacts lives of 50,000 people daily – Edwin Amoako By Emmanuel Kwarteng
C
ommercial Director of Fan Milk Ghana Plc, Edwin Amoako has said the company through its operations on a daily basis touches the lives of more than 50,000 people across the country. Mr. Amoako made these remarks during the inauguration of Fan Milk Ghana’s new ultramodern office complex in Accra. “Actually, if you look at the people that we work with on a daily basis; looking at the vendors who are on the streets, the people who are selling our products, we are totaling about 15,000,” Mr. Amoako said. “But then you look at the bigger picture, in Ghana and in Africa, when you see one person, the person is actually serving about two or three families, so when you look at the whole big expansion of the people we serve, we are serving close to more than 50,000 people every day through our operations, and this is something we are very proud of,” the 2020
CIMG Marketing Practitioner of the Year explained. The new office aimed at housing the marketing, finance, and general management of the North Industrial-based company is a sign of reunion of staff and close proximity to clients, Mr. Amoako said. He further stated that the new office complex is an indication of Fan Milk Ghana’s commitment towards growing the Ghanaian economy as well as impacting the socio-economic lives of people. Board Chairman of Fan Milk Ghana, Dr. Charles Mensa, in his remarks expressed satisfaction about the company’s growth and expansion. The Managing Director of Fan Milk Ghana Plc, Yeo Ziobeieton, in his address stated that, “this exciting new office is part of our ambition to build a stronger and more agile team devoted every day to enriching the lives of millions of West Africans by making tasty nutritious food available to all. This office will, therefore go a long way to help
our pursuit.” Fan Milk Plc, a subsidiary of Danone, has been in existence since 1962 and is currently engaged in the production and distribution of quality refreshing milk and fruit-based products. The company is the leading player in the frozen yoghurt, frozen flavoured milks, and ice cream
categories with beloved brands like FanYogo, FanChoco, FanIce, SuperYogo, and GoSlo. Special guests for the event included; French Ambassador to Ghana, Anne-Sophie Avé, Corine Tap, Danone President for Africa, Asia, Middle East and Hon. Dakoa Newman, MP for Okaikwei South.
10
FRIDAY JUNE 25, 2021
11
News
FRIDAY JUNE 25, 2021
Fido serves 1,000,000th customer
F
ido Micro Credit announced that it served its 1 millionth customer on 15th May 2021. This milestone celebration was geared towards rewarding both clients and staff for their contribution in propelling the company in attaining this feat. The first-ever customer and the most valuable customer of Fido both received rewards for their loyalty to the company. The Managing Director, Charles Badu mentioned during an interview that “Fido couldn’t have achieved this milestone without the power of technology. Our unique digital lending product makes micro loans accessible at a touch of a button from any location in Ghana. This is in line with our vision to lead the way financial services are provided in emerging markets by leveraging technology to provide reliable, fast and easy services to the underbanked.” Receiving his award, Mr. Darlington Kofi Kumebia, a taxi driver based in Accra, said, “I’m happy to know that Fido still
remembers me to the point of rewarding me during their 1 millionth customer celebration. I’m glad I took that step in 2014 to be their first customer. The loan was a great support to my business. I also did well to pay
back on time which gave me chances to take more loans.” Fido also marked the occasion with an award ceremony at its head office in Dzorwulu, Accra to reward and congratulate both present and past staff of
the company for their diverse contributions to this milestone. Fido is committed to leveraging technology to further penetrate the Ghanaian market to serve customers across all the major telecommunication networks.
MTN Ghana recognised for outstanding contributions to sustainable development
M
TN Ghana has been recognised with three awards at the third edition of the Health, Environment, Safety and Security awards ceremony held at the Movenpick Ambassador hotel in Accra. MTN was awarded ‘The most outstanding for its contributions for Sustainable Development’. The company also received ‘The Corporate Social Responsibility Excellence award’ and the ‘Telecoms Facility Excellence award’. Receiving the awards, the Senior Manager for Security Risk Management, Mr. Foster Kplomdo expressed his appreciation to the organizers for the recognition given to MTN’s contribution to sustainable development initiatives within the communities it operates and the management of its facilities. He dedicated the awards to the Security, & Safety and the MTN Ghana Foundation team at MTN for their commitment at ensuring that staff, customers and stakeholders of MTN are always safe especially in this period where the world is battling with
Foster Kplomdo-Senior Manager, Security Risk Management- Receives award on behalf of MTN supported by a cross functional team
the COVID-19 pandemic. Commenting on the awards, the Chief Executive Officer of MTN Ghana, Selorm Adadevoh commended the Safety and Security Team of MTN and the MTN Foundation for their steadfastness in ensuring MTN provided a safe and secure environment for staff, customers and the general public.
He said, “your approach to managing the security and health of both staff and stakeholders within our communities during the pandemic is commendable”. There was business continuity as customers were engaged in a safe environment. Our communities bonded with us more because we demonstrated our concern with the PPEs and vaccines we
donated during the COVID 19 pandemic last year.” He added, “We are excited the awards Board of HESS has recognised our contribution conferred these awards on us. We hope to do more in that regard.” The HESS awards was organised by Ianmatsun Global Services Ltd, organizers of the Sustainability and Social Investment Awards and publishers of the Sustainability Report Magazine in partnership with Firmus Advisory a leading Research Company in Ghana. It is designed to identify, publicly recognize and celebrate outstanding companies for exceptional performance and innovations focused on occupational Health, the Environment, Employee and Stakeholder Safety and security. This is the second time MTN has participated in the awards program and continues to be recognised for its dedication to ensuring employees and stakeholders health and safety remains paramount. This year’s awards program was under the theme: ‘Building a resilient workspace post -COVID -19; The role of HSSE initiatives.”
12
FRIDAY JUNE 25, 2021
13
Companies
FRIDAY JUNE 25, 2021
Absa Bank taps into Ghana’s US$3.6 billion remittance market
A
bsa Bank Ghana has announced a partnership with MoneyGram, a major reliable and trusted brand in the remittance industry, to provide remittance services to Ghanaians. Through the partnership, both customers and non-customers of Absa Bank can receive their inbound remittances from any of the bank’s branch networks. Absa Bank’s partnership with MoneyGram is seen as a strategic one as the bank looks to become a key player in the remittance sector which has witnessed a rise in money transferred from abroad on yearly basis. Ghana is the second largest recipient of remittances in Sub-Saharan Africa. Remittances to Ghana was $3.6 billion in 2020, according to the World Bank’s 2021 Migration and Development Report. Many Ghanaian families depend on remittances from relations living abroad to take care of their needs; from their upkeep, payment of health bills,
school fees, construction or purchase of buildings, funeral bills, investments and others. “Remittance plays a significant role in the financial ecosystem, contributing immensely to the livelihood of many households and boosting economic activities within the country. With the
addition of MoneyGram to our services, we are giving our customers and Ghanaians a convenient and reliable channel to receive money from their loved ones and also strengthening an important conduit for economic engagements,” said Mr. Charles Addo, Retail Banking Director at
Absa Bank. “This is another demonstration of our commitment to provide our customers with financial solutions that will help them get things done and ultimately bring their possibilities to life.” According to Absa Bank, it will in the near future, enhance its remittance service to include more partners as well as real time remittance services to customer account and mobile wallet to “make our service the most preferred remittance collection point and be a one-stop financial shop for all our customers”. Absa Bank Ghana Limited is one of Ghana’s leading financial institutions offering an integrated set of products and services across Corporate and Investment Banking, Retail Banking, and Business Banking with solutions for SMEs and start-ups. Absa Bank Ghana is part of Absa Group Limited, one of Africa’s largest diversified financial services groups.
MultiChoice Africa appoints new Managing Director for Ghana
P
an African Pay-TV operator MultiChoice Africa has named Alex Okyere as the new Managing Director for its Ghana operation. His appointment is expected to further strengthen the operations in Ghana. He takes over from former Managing Director Cecil SunkwaMills who is leaving the business effective 1st June 2021. During his over 14 years of stewardship he led the business along a path of steady growth and a position of prominence in the Ghanaian market. He is leaving to pursue other interests but will continue to consult for the business. According to MultiChoice Africa Regional Director for East, West and Central Africa, Maharage Chande, this appointment comes at a critical time for the video entertainment business and cements MultiChoice’s market leadership position as Ghana’s most loved storyteller, committed to providing great entertainment and investing in the future of our people by harnessing the transformative power of media on society. “Our strategy is to continuously provide customers with more of their favorite content and thus providing unmatched value.
This new appointment will play a major role in delivering the experience our customers are accustomed to and we are determined to continue putting this at the center of our corporate culture and values,” said Maharage Chande, MultiChoice Africa Regional Director for East, West and Central Africa. Prior to assuming this new role, Alex Okyere was the Chief Customer Officer at MultiChoice Ghana. He has held various roles at MultiChoice including, Regional Finance Director for East, West and Central Africa, Finance Director for the West & Central Africa Region and Finance Director for MultiChoice Kenya. Alex brings over 15 years of experience in finance, accounting, commercial and general management in various industries and multinational organizations such as MultiChoice Africa, Weatherford International, Schlumberger, Newmont and PricewaterhouseCoopers (pwc). He is a fellow of the Association of Chartered Certified Accountants (United Kingdom) and a member of the Institute of Chartered Accountants (Ghana). He holds an MBA in Finance from the University of Ghana. Alex said: “I am delighted to
Alex Okere Multichoice
head-up Ghana’s leading video entertainment company and looking forward to leading this business at what is an exciting time for the industry and the
Multichoice Group. My focus will be to increase our subscriber base by upholding our excellent offering, and service both new and existing customers”
14
FRIDAY JUNE 25, 2021
15
Feature
FRIDAY JUNE 25, 2021
Child Online Protection (COP) related provisions in the cybersecurity Act, 2020 (1) Background Ghana’s Cybersecurity Act, 2020 (Act 1038) was passed by the Parliament of Ghana and assented by the President into law on December 29, 2020. It is made up of 100 sections and 3 schedules. This Act is to regulate cybersecurity activities in the country; promote the development of cybersecurity and provide for related matters. It further seeks to require or authorize the taking of measures to prevent, manage and respond to cybersecurity threats and incidents, to regulate owners of critical information infrastructure, to regulate cybersecurity service providers, and to make consequential or related amendments to certain other written laws. Staying safe online requires safeguarding all categories of data not only from theft and damage but also from exploitation and abuse. This includes sensitive data, personally identifiable information, protected health information, personal information, intellectual property, data, and governmental and industry information systems. To this, child online protection (COP) develops key recommendations and standards to support the protection of children online by all key stakeholders. COP promotes a model national framework to assist in the development of a positive online environment for children and young people. For this and subsequent articles, we shall look at issues relating to COP and its provisions outlined in sections 62, 63, through to 68, and section 87 which draws interesting insights to consider. The article is intended to educate and create awareness by providing key highlights and issues of interest from the act and does not seek to interpret the act. Protection of Children Online Children are spending more time online than ever before. 7 out of 10 children/adolescents use the internet for learning; two in five children in Ghana have received messages containing sexual content on their phones at least once during the past year; 4 out of 10 children/adolescents have seen sexual images while online—UNICEF. In recent times, the coronavirus pandemic gave us all more reasons to stay online. Children have been learning and engaging online through computers,
Every child must be protected from violence, exploitation and abuse on the internet - UNICEF
smartphones, gaming consoles, and televisions accessing the internet, and rightly has the potential to broaden horizons and ignite creativity all over the space. But with these opportunities come serious risks, hence the need for protecting children online. Below are key highlights of Act 1083. Section 62: Indecent image and photograph of a child It is important to note that the possession of material depicting indecent images of children is a serious criminal offense in Ghana and globally. This section prohibits a person from taking or permitting to be taken an indecent image or photograph of a child; produce or procure an indecent image or photograph of a child for the purpose of the publication of the indecent image or photograph through a computer system; publish, stream, including live stream, an indecent image or photograph of a child through a computer or an electronic device; or possess an indecent image or photograph of a child in a computer system or on a computer or electronic record storage medium. Here, indecent materials not allowed to part away, or give, share, or offer include any visual representation such as videos and animations, audio, text, drawings, depicting a child engaged in sexually explicit or suggestive conduct; a person who appears to be a child engaged in sexually explicit or suggestive conduct; images representing a child engaged in sexually explicit or suggestive conduct; or sexually explicit images of children. Section 63: Dealing with a child for purposes of sexual abuse Forms of child sexual abuse include engaging in sexual activities with a child (whether by asking or pressuring or by other means), indecent exposure (of the genitals, female nipples, etc.).
This section states, a person shall not use a computer online service, an internet service, a local bulletin board service, or any other device capable of electronic data storage or transmission to seduce, solicit, lure, groom or entice, or attempt to seduce, solicit, lure, groom or entice, a child or another person believed by the person to be a child, to facilitate, encouraging, offering, or soliciting unlawful sexual conduct of or with any child, or the visual depiction of such conduct. Section 64: Aiding and abetting of child dealing for purposes of sexual abuse An owner or operator of a computer on-line service, weblog, internet service, or internet bulletin board service shall not aid and abet another person for the purpose of facilitating or encouraging the online solicitation of a child; or permit any person to use the service of that person for the purpose of facilitating, encouraging, offering, or soliciting unlawful sexual conduct of or with a child, or the visual depiction of such conduct. Does child prostitution online come to mind? Section 65: Cyberstalking of a child This section states a person shall not use a computer online service, an internet service, or a local internet bulletin board service, or any other electronic device to compile, transmit, publish, reproduce, buy, sell, receive, exchange, or disseminate the name, telephone number, electronic mail address, residence address, picture, physical description, characteristics, or any other identifying information on a child in furtherance of an effort to arrange a meeting with the child to engage in sexual intercourse, sexually explicit conduct, or unlawful sexual activity. To clarify, “unlawful sexual activity” means a sexual activity characterized by a recurrent intense sexual urge of a person, a sexually arousing fantasy of a person, or the use of an object by a person resulting in the suffering or humiliation of that person, the partner of that person, a child, or any other non-consenting partner. Section 66: Sexual extortion Also known as sextortion, employs non-physical forms of coercion to extort sexual favours from the victim. Sextortion refers
to the broad category of sexual exploitation in which abuse of power is the means of coercion, as well as to the category of sexual exploitation in which threatened release of sexual images, videos, or information is the means of coercion. In most cases, the offenders use the opportunity to ask for sexual favours and money. There are many unfortunate cases of females who have left school because of threats by a blackmailer to leak their nude photos and videos. Section 66 prevents a person from threatening to distribute by post, email, text, or transmit, by electronic means or otherwise, a private image or moving images of the other person engaged in sexually explicit conduct; or an intimate image of a child engaged in sexually explicit conduct, with the specific intent to harass, threaten, coerce, intimidate or exert any undue influence on the person, especially to extort money or other consideration or to compel the victim to engage in unwanted sexual activity; or actually extort money or other consideration or compel the victim to engage in unwanted sexual activity. An intimate image may include a depiction in a way that the genital or anal region of another person is bare or covered only by underwear; or the breasts below the top of the areola that is either uncovered or clearly visible through clothing. Disregarding these provisions is an offense and is liable on summary conviction to terms of imprisonment. In the next article on COP, we shall look at other online sexual offenses in sections 67 (Non-consensual sharing of intimate image), and 68 (Threat to distribute prohibited intimate image or visual recording). However, talking about the above without touching on matters of service providers will be incomplete, thus, section 87 (Blocking, filtering, and taking down of illegal content) will be discussed. As Government commits to a safer digital Ghana campaign to address cybersecurity issues, we all have responsible roles to play as we stay online, and to support children and adolescents to use the internet in the most constructive and beneficial way. Author: Richard Kafui Amanfu – (Director of Operations, Institute of ICT Professionals, Ghana) For comments, contact richard. amanfu@iipgh.org or Mobile: +233244357006
16
FRIDAY JUNE 25, 2021
17
Markets
FRIDAY JUNE 25, 2021
CONTINUED ON PAGE 18
18
FRIDAY JUNE 25, 2021
CONTINUED FROM PAGE 17
CONTINUED ON PAGE 20
19
FRIDAY JUNE 25, 2021
20
FRIDAY JUNE 25, 2021