Business24 Newspaper 2 November 2022

Ghana needs US$9bn to fight climate change

Ghana

needs an estimated US$9-14 billion to implement its climate action plan as communicated in the country’s nationally determined contributions (NDCs), a climate action plan to cut emissions and adapt to climate impacts.

For this reason, there’s a call on local banks for cheap financing --low interest rates-- to ease onlending to green businesses who do not have the capacity to access core financing from the major climate funds.

To understand the climate finance landscape in Ghana, the Africa Centre for Energy Policy (ACEP), in partnership with APRI

MTN GlobalConnect expands its offering with new customer success centres

GlobalConnect, a panAfrican digital and infrastructure services company, launched its new Customer Success Centres in Ghana and Kenya. Through this initiative it will enhance better customer experience globally, by enabling all support requests to be managed more efficiently.

Chief Executive Officer (CEO) of McDan Group of Companies, Daniel McKorley, has advised businesses in the country to be strategic in taking advantage of the African Continental Free Trade Area (AfCFTA) agreement.

By being strategic, he said businesses must first study the business terrain of their selected African markets before entering or doing business in the said African

Cont’d

Late on Friday, GM Motors Co said in a statement it had temporarily halted paid

New law to regulate political campaign financing -Speaker hints

By Eugene Davis ugendavis@gmail.com

McDan CEO advises businesses to be strategic in taking advantage of AfCTA

Largest US automaker temporarily halts paid advertising on Twitter after Elon Musk's takeover

Section of participants at the meeting

Free SHS more relevant now inspite of economic difficulties – Nana Deukyi

Nana

Kofi Deukyi, head of Aduana Royal Family on Obo-Kwahu believes government’s novel Free Senior High School education policy will leave a lasting imprint on the country’s socio-economic development in spite of the challenge with continuous funding.

According to him, education and skills training are the most important source of empowering and providing opportunities to the youth to help drive Ghana’s development, and in the process create jobs.

For him, the Free SHS policy introduced in 2017 during the New Patriotic Party’s first term in office would help remove cost barriers through the absorption of fees, expansion of infrastructure, improvement in quality and equity as well as development of employable skills.

Despite calls for government to suspend the policy given the current economic situation, Nana Deukyi believes it has saved a lot of families from huge financial burden.

Under the new policy, the government covers all fees for students admitted to public senior and vocational high schools, including boarding fees, meals, textbooks and other charges. This major policy initiative provides a unique opportunity to study the impact and implementation of

secondary school fee abolition in real time.

The head of the Aduana Royal Family also known as “Money Man” lauded the promoters of the anti-LGBT Bill, which he says proper human sexual values needs to be established.

Ghana needs US$9bn to fight climate change

cover

- Africa Policy Research Institute (APRI), a think tank based in Berlin, Germany, engaged key stakeholders, who met on Thursday, September 2022 at Alisa Hotel in Accra, Ghana.

The stakeholders were drawn from government agencies, green funding agencies, banks and other organizations that are active in the climate finance landscape. They examined the systems that underpin public finance delivery and implementation in Ghana.

They, however, called for international agencies and developed countries to redeem pledges made to support climate action in developing countries.

“The support pledged to Africa for climate finance by the world’s wealthiest economies is yet to materialize. As of 2020, only US$83 billion of the US$100 billion per annum commitment made for climate action by developed countries to developing countries had been met. Of this, only US$20 billion was provided to Africa between 2016 and 2019,” they said.

Mr Benjamin Boakye, the Executive Director at ACEP,

indicated that there was a need to identify the gaps and tools required to build systems to attract climate financing and discuss both internal and external approaches of generating finance, and how to use these resources to solve climate issues.

According to Dr Olumide Abimbola, Executive Director of APRI, it is important to have a very clear understanding of the experiences of Ghanain stakeholders regarding climate finance. “We need to have an empirical analysis of the gaps, both in terms of the amount coming into the country as well as in terms of the policy priorities of the Ghanaian government”, he said.

Speaking on the challenges Ghana faces in accessing climate finance, participants highlighted the need for applicants of international climate funds such as the Green Climate Fund (GCF) and the Global Environment Facility (GEF) to build capacity in areas relevant to the management of the projects they plan to embark on.

The discussions also revealed that the lack of transparency in allocating the funds, the

high demand for climate data and funding proposals, and cofinancing requirements, among other factors, make access to climate financing challenging for Ghana. Participants believed that qualified human resource is necessary to undertake documentations to receive funding.

Representatives from the banking sector highlighted the importance of financial intermediaries towards climate financing. The discussions revealed that such intermediaries are relevant to access finance for green-focused businesses that do not have capacity to access green funds from major funding sources.

Stakeholders from the government agencies also reiterated the need for developed countries to redeem their commitment to provide finance towards climate actions. This was particularly important as Ghana needs adequate funding to meet its climate action targets it has highlighted in its revised Nationally Determined Contributions (NDCs) under the Paris Agreement.

MTN GlobalConnect expands its offeringwith new customer success centres

centre in Ghana.

will include the insourcing of their Network Operations Centre (NOC) and the establishment of a new Service Operations Centre (SOC). This is the first step of their phased investment which forms part of the expansive plans for the region, with Ghana identified as one of their key markets.

Ghana’s Vice President, H.E. Dr. Mahamudu Bawumia attended the event, and thanked MTN for what he called a ‘bold step’: “Ghana has made tremendous strides in the digitalisation field. And one of the fruits of these strides is the decision to relocate the MTN GlobalConnect network operation centre in our country. This first tangible sign of Ghana’s digital transformation justifies the vision of President Nana Akufo-Addo that Ghana should benchmark itself against the best in the world.”

Following the Vice President Speech, Ghana’s Deputy Minister for Communications and Digitalisation, Hon. Ama Pomaa Boateng shared that the launch of MTN GlobalConnect operations

“I commend MTN Group and MTN GlobalConnect for making the centre possible and for choosing Ghana. The Communications and Digitalisation Ministry will continue to create the enabling environment to facilitate your operations,” she added.

Echoing the Deputy Minister for Communications and Digitalisation’s speech, MTN Group President and CEO, Ralph Mupita, shared that: “MTN

connecting Africa to the world aims to foster innovation and further grow the continent’s digital economy. Adding that “MTN GlobalConnect was bringing its network surveillance and assurance operations capability back to Africa from outsourced suppliers in India.”

“The onshoring of these operations demonstrates MTN’s confidence in Ghana and her people as the country accelerates work to develop the digital economy and overcome economic challenges,” he said during the launch of the new

MTN GlobalConnect CEO, Frédéric Schepens shared that the opening of the Customer Success Centres was a milestone in the expansion of their business on the African continent. “Through our investments, we are committed to supporting both social and economic benefits that will drive direct and indirect job solutions.”

“Our Customer Success Centres will enable our business to have tighter control measures and enhance the quality of our customer experience globally, by enabling all support requests to be managed by our specialised MTN GlobalConnect employees. Our key initiative will take us closer to realising our purpose of enabling the benefits of modern connected life for everyone.” concluded Frédéric.

Our new Customer Success Centres will contribute to MTN Group’s strategic intent, Ambition 2025: Leading digital solutions for Africa’s progress, furthering digital and financial inclusion on the continent we call home.

McDan CEO advises businesses to be strategic in taking advantage of AfCTA

Continued from cover market.

He said this at the 6th Edition of the Africa Trade Roundtable meeting organised by the University of Professional Studies Accra (UPSA) in partnership with the Association of Chartered Certified Accountants (ACCA).

Mr McKorley noted that, with the offtake of the AfCFTA pact, businesses must not rush to enter other African markets.

He said studying the business terrain of an African market before entering it was necessary, given the fact that, business techniques that work in one African country would not necessarily work or be effective in another.

“I would advise businesses to be strategic in trading on the Continent, especially in view of the AfCFTA.

“Because you see, the techniques that work in Ghana, will not work in Nigeria or Kenya. You can’t use the same techniques because if you do, you will fail,” he stated.

“Before you go into a country to trade, it is extremely important to know the culture of the country, the business environment of the country, the policies that affect business operations in the country, mergers and acquisitions in the country, among other things,” he added.

Speaking further at the event, Mr McKorley noted the timing for the creation and commencement of the AfCFTA is perfect, given rising commodity and food prices – partly due to supply chain difficulties - which is driving upwards inflation and adversely impacting livelihoods of Africans.

With AfCFTA, Mr McKorley says the African Continent can insulate itself from such incidents in the near future.

The AfCFTA pact which kickstarted January 2021, is the largest single trade bloc in the world with an estimated $3 trillion GDP value and 1.3 billion market (population of Africans).

The UPSA Africa Trade Roundtable brings together intraAfrican trade experts, government

officials, international trade and commercial law experts, policy makers and scholars from across the world to discuss the

pertinent issues arising out of the implementation of the African Continental Free Trade Area (AfCFTA).

in Ghana marked “another high point in Ghana’s coming of age as a digital hub on the continent”.

Largest US automaker temporarily halts paid advertising on Twitter after Elon Musk's takeover

ads on the Twitter platform as a "normal course of business" after a significant change in a media platform.

The largest automaker in the US has pulled paid advertising on Twitter after Elon Musk completed his takeover of the social media company.

Musk's $44bn (£38bn) deal to buy Twitter completed on Thursday and he reportedly sacked the company's chief executive and two other top bosses.

The world's richest man tweeted "the bird is freed" and "let the good times roll" before a tweet on Friday announcing the setting up of the content moderation council.

Late on Friday, GM Motors Co said in a statement it had temporarily halted paid ads on the platform as a "normal course of business" after a significant change in a media platform.

The Detroit automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership", adding its "customer

second quarter.

Some ad agencies and brands had expressed scepticism and concern over Twitter's future at a presentation back in May.

Tesla and SpaceX boss Musk, who has described himself as a "free-speech absolutist", appealed directly to advertisers in an open-letter tweet on the eve of the deal's closing.

He said: "Twitter obviously cannot become a free-for-all hellscape, where anything can

your brand and grows your enterprise."

Musk then tweeted on Friday saying the social media platform will form a moderation council "with widely diverse viewpoints" and that "no major content decisions or account reinstatements" will be made before it meets.

In a later tweet, he said the company had "not yet" made any changes to its content moderation policies.

Musk previously promised to overhaul the service by getting rid of fake accounts and ensuring it's a place where a "range of beliefs can be debated in a healthy manner".

Donald Trump - arguably once Twitter's most famous user - is among those who could have their account reinstated.

The former president was banned after the siege on the US Capitol in January 2021 for allegedly inciting violence with two of his posts.

However, Musk earlier this year called the ban a "mistake" and "morally wrong

Vodafone climaxes Care Month with SuperCare initiative at Mampong School for the deaf

TheVodafone Ghana Foundation has reintroduced the Vodafone SuperCare service to students at the Mampong Senior High Technical School for the Deaf in Mampong Akuapem as part of its Care Month initiative.

launched the SuperCare platform, a special customer support line for those who are hard of hearing. This was done as part of the telecoms company's strategy

to provide customers with a more inclusive and balanced experience across all platforms.

The Vodafone Ghana SuperCare team reintroduced the platform to the students during the presentation and showed them how to use it.

of our services for clients with health issues or disabilities. We are able to create breakthroughs like SuperCare because of this focus."

In relation to the Care Month initiative, she added, "The focus of October has been on demonstrating to our consumers how much we value them through various events at various touchpoints. We are thrilled to have involved school-age children

Madam Grace Ofori-Yeboah, the principal of Mampong Senior High Technical School for the Deaf, showed her gratitude to the Vodafone team by saying, "Your input and enthusiasm in reintroducing the SuperCare service to the Deaf community was most helpful. Your efforts will go a long way to helping both staff and students make a vast improvement in teaching and learning."

The Vodafone Foundation also took the opportunity to educate both teachers and students on how to use digital learning platforms and incorporate technology into lessons. Among other things, the students learned how to build circuits and alarm systems.

Vodafone Ghana designated October as the month to commemorate its Care Month initiatives. The campaign was a way to appreciate both employees who consistently make customers happy and customers who help the business grow.

New law to regulate political campaign financing -Speaker hints

TheSpeaker of Parliament, Alban Sumana Kingsford Bagbin, has indicated that the House will consider adding the process of campaign financing to the scope of activities to be regulated via a bill that will be proposed sometime next year -which seeks to cut down the cost of political business.

Political business in Ghana, especially for elections requires heavy financing. Available data shows major political parties in Ghana are funded privately either through donations made by institutions, kickbacks and corruption, fund-raising or membership dues, and nomination fees paid by aspirants of executive positions in political parties as well as parliamentary and presidential aspirants during party primaries and congress.

Addressing members of the Parliamentary Press Corps at Parliament House on Friday, Mr. Alban Bagbin said the legislature would be making a move to curb the high cost of pollical campaign financing.

“So by next year, I am going to

how they spend it, nobody cares, and at the end of the day the person is supposed to be Father Christmas, so we going to come out with a law on this matter.

We can say reduce it to posters, the idea is to reduce the cost, the money, we need to do something to cut down on the cost of political business and I think we will work towards that, so we need to change the system to reduce

According to Speaker, such a move will help lessen the corruption tag associated with political campaign financing and strengthen the country’s democratic credentials as well as engendering confidence in parliament.

Presently, no provision under current law [Political Parties Act (Act 574] for direct (cash) public funding of political parties. However, under a longstanding arrangement that has yet to be enshrined in law, Members of Parliament receive a portion of the District Assemblies Common Fund allocated to districts within their constituencies.

Also, in past elections, the Government, acting through the Electoral Commission, has allocated vehicles to qualified political parties for use in election campaigns.

Over the years, weaknesses and poor performance of political parties has been largely blamed on the inadequate funding of political parties.

The lack of state funding of political parties accounts for the lack of political party dynamism and encourages the abuse of incumbency, political support and corruption that, in turn, undermine political party competitiveness, thereby undermining the entire system of multiparty democracy in Ghana.

FBNBank goes pink to mark breast cancer awareness

FBNBank

Ghana has organized a webinar in commemoration of breast cancer awareness month. This is an annual campaign to increase the understanding and education on breast cancer. The theme for this year’s activities is “Breast Cancer, Early Detection.”

The webinar was held at the Bank’s Training School at Cantonments, Accra. The goal of the session, which had both a virtual and on-site audience was to show every woman that her life is important and to also ensure women have access to education, screening, treatment and the support they need.

Delivering the keynote address, Mrs. Juliette Mills-Lutterodt, President of Pink for Africa, who is also a breast cancer survivor said, “a lot of women lose their lives through this cancer. My life came to a temporary halt when I contracted the disease. I did not pay attention to it in the early days until it got out of hand. It was quite tough for me when I was finally diagnosed of cancer and I had to go under the knife to remove all the affected lymph

nodes. When cancer is diagnosed and treated early, a person has the chance not only to survive but to also thrive. I had to trust God to see me through and I survived. Doctors treat people but it is God who heals,” said the President of Pink for Africa.

According to the International Agency for Research on Cancer (IARC), there were about 2.3 million new cases of breast cancer globally and about 685,000 deaths in the year 2020 alone. Breast cancer can be reduced by ensuring timely diagnosis,

adequate treatment and patient management.

Delivering the closing address, Chairperson of the FBNBank Women’s Network and Treasurer at FBNBank Ghana, Mrs. Grace Isaac-Aryee said, “the fight against cancer and one’s ability to survive it does not depend on the individual alone but a strong support system which provides you with an opportunity to be with people who have a common purpose and are likely to understand one another. I personally believe that we should focus on fighting this cancer rather

than the fright that comes with it. In line with this, we are making a cash donation of Ten Thousand Ghana Cedis (GH¢10,000) to Mrs. Juliette Mills-Lutterodt, President of Pink for Africa in support of her awareness campaign on prevention and management of breast cancer.

FBNBank has in its 26 years of operating in Ghana remained focused on putting its customers and communities first. This, it has sought to do through the rich value and excellence of what the Bank contributes to the relationship with its stakeholders as a whole, particularly the customers. FBNBank Ghana is a member of the First Bank of Nigeria Limited Group which is renowned for its great customer service and general stakeholder engagement garnered over its 128 years of operation. FBNBank Ghana has 23 branches and three agencies across the country with over 500 staff. FBNBank offers universal banking services to individuals and businesses in Ghana.

Speaker of Parliament, Rt.Hon. Alban Bagbin addresses members of PPC

Mrs. Juliette Mills-Lutterodt, President, Pink for Africa receiving a donation from Grace Isaac-Aryee, Chairperson, FBNBank Womens Network. A cross section of the FBNBank Womens Network members.

AfCFTA’s first extraordinary meeting of Council of Trade Ministers held in Gabon

FirstExtraordinary Meeting of the Council of Ministers Responsible for Trade is being held in #Libreville, #Gabon taking place from 27 to 28 October 2022.

The objective of the Meeting is to consider the draft Protocols on Competition Policy, IPR and Investment in preparation for further consideration by the Heads of State and Government in #Niger in November while seeking political guidance from the Ministers on outstanding issues.

Wamkele Mene, S-G, AfCFTA Secretariat: “As I addressed the Ministers, I recommended that we look beyond the text and consider how we can enable #Africa, using these instruments in front of us, to respond adequately to the shifting #geopolitical landscape

across the world.”

“More importantly, how do we use this, all of us, to make sure that the 1.3 Billion Africans whom we all serve, see the benefits of the #AfricanContinentalFreeTradeArea (AfCFTA). We have ahead of us a very unique opportunity to establish a legal foundation, a legal basis for a common market, for an integrated market, it should be a matter of concern for all of us that we have over 70% reliance on the imports of grains from #Russia and #Ukraine, that we are experiencing as a #continent a food insecurity crisis.”

“We must be dynamic from a trade point of view. We must negotiate, conclude and implement. And yet again, make sure that #Niamey is a success as was the case in 2019, “ Mene added.

Fairwork to launch second report on working conditions of digital labour platforms in Ghana

Fairwork is to launch its second report on the working conditions of gig workers in Ghana on November 4, 2022.

The Fairwork Ghana 2022 report evaluated the working conditions of 10 digital labour platforms against five global principles of Fairwork, including fair pay, fair conditions, fair contracts, fair management, and fair representation, a press release jointly signed by Prof. Richard Boateng, Project Lead and Dr. Joseph Budu Country Manager of Fairwork Ghana Project stated.

Each platform operating in Ghana (including Uber, Bolt, Yango, The Black Ride, SwiftWheels, inDriver, Feenix, Bolt Food, Jumia Food and Glovo) were scored against all five principles to assess whether they provide basic labour standards like minimum wage or protection against accidents.

The report collected data from May to October 2022 from digital platform workers and managers in Accra, Kumasi, and Takoradi.

It said the Fairwork Ghana project is supported by Invest for Jobs an initiative of the German Federal Ministry for Economic Cooperation and Development.

Ghana has witnessed rapid growth of the platform economy, and its associated employment

Fairwork Ghana report 2022, is set to identify if there have been any changes in the situation of platform workers in Ghana.

The report is intended to continue the national conversation on how to improve

researchers, Fairwork evaluates digital platforms' working conditions and ranks them based on five principles of fair work.

Globally, Fairwork collaborates closely with workers, platforms, advocates, and policymakers to

Administration (GIMPA).

The report will be launched at a media interaction on November 4, 2022, at the University of Ghana Business School.

If fundamentals of economy are weak…

By Dr Joseph Osae-Kwapong

Inthe face of the recent sharp depreciation of the Ghanaian cedi (GH¢) to the US Dollar ($), I attempt to trace the trajectory of the exchange rate since the beginning of the Akufo-Addo administration.

Using data from the Bank of Ghana’s daily interbank exchange rate, I track the rate from January 9, 2017, through October 25, 2022. I reckon that forex bureau and black-market rates differ. The buying rate at the first data point was GH¢4.21 and GH¢13.00 at the last data point.

Making sense of the data

What has been the patterns of movement in the exchange rate at the various turning points? By turning points, I simply mean points in time where the rate moved by the next threshold by GH¢1. The rate at the beginning of this administration was GH¢4.2 - US$1. I note a number of events during turning points. It is not a comprehensive list of all that happened, just my key highlights.

1. Beginning Point of The Akufo Addo Administration

The exchange rate enjoyed it longest period of relative stability between Turning Points 1 and 3 (January 2017 through February 2022). But during this period the COVID-19 pandemic hit resulting in (a) a partial lockdown of the economy from March 30 through April 23, 2020; (b) a two-phase easing of COVID restrictions between June 5 and August 3, 2020; (c) a reopening of the country’s main international airport to international travel, and (d) external financial support from institutions such as the International Monetary Fund (IMF).

During this period, Ghana experienced its first crediting rating agency downgrade in 2022 by Fitch on January 14 . One cannot forget the onset of the Russian-Ukraine war which began on February 24, 2022.The average rate was GH¢5.2 - US$1 during this period.

Between Turning Point 4 and 6 (March 2022 through September 2022), the number of days of relative stability declined significantly. It was during this period that government announced on July 1, 2022, that it was heading to the IMF for a

bailout. During this period also, the government finally managed to pass The Electronic Levy (E-Levy) after four months of strong opposition in Parliament and public outcry. This impacted the government’s expected projected revenue from this new tax. The average exchange rate was GH¢7.7 - US$1 during this period.

The time between Turning Points 7 and 10 can be described as a period of instability with the rate of depreciation sharpening. During that period, the country experienced downgrades by credit rating agencies. In addition, domestic economic indicators such as the inflation rate continued to rise sharply. I often wondered if the government’s posture during this period was “let’s ride out the storm.” I saw no policy actions from the government, and I think it is fair to say that it was unclear how soon the IMF bailout will be secured. The average exchange rate was GH¢11.7 - US$1 during this period.

The future of exchange rate discussions

Several explanations have been offered to explain the current woes of the Ghanaian cedi. They have ranged from external factors (COVID-19; Russia-Ukraine War; lack of access to the international markets to borrow, etc.) to internal factors (government’s mismanagement of the economy, speculation, rush for the dollar, etc.). All of these may have a hand in our current woes.

Two things though are clear. First, there are structural issues with the Ghanaian economy. We have no control over external events and cannot predict when they will happen. We can only prepare well in advance. And that preparation will come from the tough policy choices we need to make.

Second, it is clear to me that given all the structural issues, I hope a day will come when political actors will be measured in the extent to which exchange rate depreciation is weaponised as a tool against opponents.

The issue of the exchange rate is more economics than politics, but it will take a different kind of political dialogue to fix the economics. Until then, I am sure people will keep reminding others of the statement “If the fundamentals of the economy are weak, the exchange rate will expose you”

The writer is a fellow of CDD-

Ghana

In the face of the recent sharp depreciation of the Ghanaian cedi (GH¢) to the US Dollar ($), I attempt to trace the trajectory of the exchange rate since the beginning of the Akufo-Addo administration.

Using data from the Bank of Ghana’s daily interbank exchange rate, I track the rate from January 9, 2017, through October 25, 2022.

I reckon that forex bureau and black-market rates differ. The buying rate at the first data point was GH¢4.21 and GH¢13.00 at the last data point.

Making sense of the data

What has been the patterns of movement in the exchange rate at the various turning points? By turning points, I simply mean points in time where the rate moved by the next threshold by GH¢1. The rate at the beginning of this administration was GH¢4.2 - US$1. I note a number of events during turning points. It is not a comprehensive list of all that happened, just my key highlights.

1. Beginning Point of The Akufo Addo Administration

The exchange rate enjoyed it longest period of relative stability between Turning Points 1 and 3 (January 2017 through February 2022). But during this period the COVID-19 pandemic hit resulting in (a) a partial lockdown of the economy from March 30 through April 23, 2020; (b) a two-phase easing of COVID restrictions between June 5 and August 3, 2020; (c) a reopening of the country’s main international airport to international travel, and (d) external financial support from institutions such as the International Monetary Fund (IMF).

During this period, Ghana experienced its first crediting rating agency downgrade in 2022 by Fitch on January 14 . One cannot forget the onset of the Russian-Ukraine war which began on February 24, 2022.The average rate was GH¢5.2 - US$1 during this period.

Between Turning Point 4 and 6 (March 2022 through September 2022), the number of days of relative stability declined significantly. It was during this period that government announced on July 1, 2022, that it was heading to the IMF for a bailout. During this period also, the government finally managed to pass The Electronic Levy (E-Levy)

after four months of strong opposition in Parliament and public outcry. This impacted the government’s expected projected revenue from this new tax. The average exchange rate was GH¢7.7 - US$1 during this period.

The time between Turning Points 7 and 10 can be described as a period of instability with the rate of depreciation sharpening. During that period, the country experienced downgrades by credit rating agencies. In addition, domestic economic indicators such as the inflation rate continued to rise sharply. I often wondered if the government’s posture during this period was “let’s ride out the storm.” I saw no policy actions from the government, and I think it is fair to say that it was unclear how soon the IMF bailout will be secured. The average exchange rate was GH¢11.7 - US$1 during this period.

The future of exchange rate discussions

Several explanations have been offered to explain the current woes of the Ghanaian cedi. They have ranged from external factors (COVID-19; Russia-Ukraine War; lack of access to the international markets to borrow, etc.) to internal factors (government’s mismanagement of the economy, speculation, rush for the dollar, etc.). All of these may have a hand in our current woes.

Two things though are clear. First, there are structural issues with the Ghanaian economy. We have no control over external events and cannot predict when they will happen. We can only prepare well in advance. And that preparation will come from the tough policy choices we need to make.

Second, it is clear to me that given all the structural issues, I hope a day will come when political actors will be measured in the extent to which exchange rate depreciation is weaponised as a tool against opponents.

The issue of the exchange rate is more economics than politics, but it will take a different kind of political dialogue to fix the economics. Until then, I am sure people will keep reminding others of the statement “If the fundamentals of the economy are weak, the exchange rate will expose you”

The writer is a fellow of CDDGhana

Member States call on the ECA to make Southern Africa a hub for green initiatives

“ We need Mozambique to be a strategic centre for implementation of green initiatives to power green industrialization to help us fight against natural disasters and droughts that the country is prone to" said Mr. Silvino Jose Moreno, Minister of Trade and Industry, Republic of Mozambique.

Mr. Silvino said his country is honoured to be elected as Chair of the 28th Intergovernmental Committee of Senior Officials and Experts (ICSOE) on behalf of the Republic of Mozambique along with Botswana as Vice Chair and Angola as Rapporteur.

He said this was a great opportunity for Mozambique to link its chairmanship and its 20212035 National Industrialization Programme aiming to increase productivity, increase exports, improve trade balances, encourage import substitution and contribute to job creation.

He thanked the ECA Secretariat for developing a focused twoday work agenda, whose thematic focus encouraged an approach that will contribute to the development and growth of Southern Africa, in line with Africa’s vision as stipulated in Agenda 2063 for, “a prosperous Africa, based on inclusive growth and sustainable development as well as environmentally sustainable and climate resilient

In his opening Statement, ECA Acting Executive Secretary, Mr. Antonio Pedro noted that the theme of the 2022 ICSOE for the Southern Africa region on ‘greening industrialization through digitalization, infrastructure development and regional integration: leveraging the AfCFTA’ was very timely for a region rich in natural resources and has the opportunity to add value to its products in order to create the much-needed jobs and yet still struggles with poor socioeconomic outcomes across the board.

He highlighted that most countries in Southern Africa have been unable to achieve and sustain value added manufacturing beyond 25% of GDP which is an acceptable threshold for structural transformation.

In the last few years, only Eswatini, Lesotho and South Africa has been able to record a

sustained value-added level of above 15% of GDP.

In addition, a lack of economic diversification and a narrow export base comprising mostly of raw commodities undermines the region’s resilience to shocks whether economic, climatic, pandemic or war driven, impacting on the economic fundamentals exacerbating vulnerability to poverty, inequalities and social cohesion.

Mr. Pedro further stated that “industrialization still holds the promise for jobs, increased productivity, inequality and poverty reduction that this region desperately needs.”

AU-SARO Permanent Representative, Ambassador David Claude Pierre applauded the engagement of ECA in working in close collaboration with AU-SARO and talked about successful implementation of the African Continental Free Trade Area (AfCFTA) to speed up

industrialization, foster economic development, boost regional trade for industrialization and strengthen regional value chains.

The out-going ICSOE Chair, represented by Mr. Rhino Mchenga, Acting Director Economic Affairs, Malawi Ministry of Finance remarked on the high-level participation that involved the private sector and said all countries in the region must transition to a carbon-neutral environment as African economies find the balance between economic growth and minimal damage to the environment to help counter effects of COVID-19 characterized by poverty, unemployment, and inequalities in the region.

The ICSOE participants were welcomed to Maputo by United Nations(UN) Resident Coordinator for Mozambique, Ms. Myrta Kaulard, in a message delivered on her behalf by ECA SRO-SA Director, Ms. Eunice Kamwendo, she promised full support of the UN Country Team in Mozambique and expressed, “commitment of the United Nations to work with the leaders and people of Africa in making inclusive and sustainable industrialization an effective pathway to a prosperous and peaceful continent for people and the planet through its Country Cooperation Framework”.

TheGoverning Council and leadership of KAAF University College have appointed astute agriculturalist, Prof. Herbert Kwabla Dei, as rector to serve as the academic and administrative head of the institution.

Prof. Dei will leverage his high caliber and impeccable academic credentials and social capital to facilitate the rapid development of skills training that meet the demand of industry, build linkages and strategic investments and to forge partnerships with reputable international universities.

Top on the agenda will be to spearhead the chartering of the university by 2024 in accordance with regulatory requirements of the new Education Bodies Regulatory Act, 2020 (Act 1023).

Speaking to journalists after his investiture last Friday, the new rector pledged to promote advancement in research-based

learning and skills development that will position KAAF as a world-class tertiary institution for training students and professionals to positively impact society.

“My vision will be pursued vigorously in diverse ways and in line with the KAAF performance agreement which is aimed at not only sustaining what exists currently, but also enhancing it and taking KAAF to the next level,” he said.

He said his administration will facilitate university-industry collaborations in relevant areas of study, pursue innovation and creativity with a significant economic impact as well as drive rapid expansion of infrastructure and programmes.

He added: “There will be regular review of curricula of existing programmes to ensure that they are demand-driven and meet the needs of society.”

Professor Dei is an agricultural scientist and Professor of Animal Nutrition. He is a Fulbright Senior African Research Scholar, who has published extensively in reputable journals, and presented several papers at both local and international conferences.

His academic career spans over 37 years, beginning as a teacher with the Ghana Education Service and rising to the rank of a Senior Superintendent before joining the University of Development Studies (UDS), Tamale.

Chairman of the Governing Council of the university, Prof. K.B Omane Antwi, reiterated in his remarks that KAAF as a science and engineering institution, will continue to produce in-demand and exportable skills for the domestic and foreign labour market.

He further expressed optimism in the new rector: “I have no doubt in his ability to maintain

the growth trajectory and the relevance of KAAF in the private university space in Ghana, however, the critical need for our support cannot be overemphasized.”

He added: “KAAF is a sciencebias circular university that is not only committed to making high quality education accessible to deserving and motivated individuals but we also strive, through active collaboration with major stakeholders, to ensure that our academic offerings are in-demand and job-ready, and results in readily exportable skills.”

Vice President Dr. Mahamudu Bawumia to grace SSI Awards 2022… as more than 40 individuals, companies nominated

The Vice President, Dr. Mahamudu Bawumia will be the Special Guest of Honour at the 6th edition of the Sustainability and Social Investment (SSI) Awards in Accra on Friday November 18, 2022, at the Kempinski Gold Coast Hotel, Accra.

Also, in attendance will be Yoofi Grant, CEO of the Ghana Investment Promotion Centre (GIPC) and Andrew Maharaj, Deputy High Commissioner and Senior Trade Commissioner at the Canadian High Commission.

The annual Sustainability and Social Investment (SSI) Awards seeks to honour and celebrate individuals and corporate bodies for their constant investments in socially responsible programmes that have impacted and continue to impact society. The awards scheme has, in its previous editions, honoured business leaders, corporate institution and not-for-profits as well.

The 2022 edition of the Sustainability & Social Investment Awards have been endorsed by the Ministry of Education, Ministry of Gender, Children and Social Protection, Ghana Investment Promotion Centre (GIPC), National Road Safety Authority (NRSC) and supported by the Ministry of Sanitation and Water Resources.

The awards night will be held under the theme ‘Leading the Sustainability Transition through Private-Public Partnerships and Collaborations’. The awards are open to all businesses and organisations across the public and private sectors and of all sizes from the largest multinationals to the smallest micro-organisations.

For this year’s awards, the organisers and partners have developed a set of categories that reflect the latest trends and practices in sustainability and Corporate Social Responsibility (CSR). From the most ambitious net-zero carbon programmes through to cutting-edge climate leadership innovations; from impactful climate partnerships and social sustainability initiatives to the heroes on the ground who are driving positive change.

2022 SSI nominations

The 2022 edition has seen over 40 businesses, companies and individuals that have championed sustainability projects nominated. Some of the companies that stand the opportunity to pick up prestigious awards include Volta River Authority, Interplast

Absa Bank Ghana, Accentia Energy, McDan Group, TotalEnergies Marketing Ghana Plc, Karpower Ghana Company Limited, Vivo Energy, Ghana Shippers Authority, Access Bank Ghana Plc, Aspire Coronation Trust (ACT) Foundation, Opportunity International Savings and Loans, B5 Plus, FBN Bank Ghana, United Bank for Africa (Gh), Najel Foundation, Fern Foundation, and Lister Hospital and Fertility Center.

The rest include Golden Star Wassa, Advans Ghana Savings and Loans, Ecom Ghana, AngloGold Ashanti Ghana, Fidelity Bank Ghana, Olam Food Ingredients, United Pensions Trustees; JRA Cosmetics, Jaggreys Fertility and Natural Health Clinic, Premium Real Estate Assets, and Baraka Impact Ghana.

Notes to editors

About Sustainability & Social Investment Awards

The Sustainability & Social Investment Awards is home grown platform that was instituted in 2017 by Ianmatsun Global Services, an organization that focuses on providing a platform to help meet industry challenges and facilitate meetings with decision makers. They remain committed to running

its ambit considerably.

Since its inception, the SSI Awards’ credibility has earned it the trust and recognition of various ministries and agencies such as the Ministry of Education, Ministry of Gender, Children and Social protection, National Road Safety Authority, GIPC, Ministry of Sanitation and Water Resources etc. This support has ensured that the Awards are well rooted in the country and that it is in sync with the local context and the changes that are undergoing all over the country and the world with regards to sustainability.

This is reflected in the continued and steadily growing interest of organizations from different sectors and sizes to participate from all over each year. We are on a mission to recognize, reward and promote outstanding sustainability initiatives across the country - and the last year has seen so many incredible achievements in this area, despite the Covid-19 pandemic that has plagued the world since 2020. Since 2017, the SSI Awards is the first multi-stakeholder platform

that engages small and large businesses and government institutions to strengthen their commitment to sustainable

The Awards also aims to bring into greater focus the local and regional efforts undertaken at the corporate and civil society levels to further the case of CSR and Sustainability in the country. Working under the slogan ‘Investing in Communities; Impacting Lives’. The SSI Awards aim to facilitate exchange of ideas and to forge lasting partnerships across sectors for an improved society based on the UN Sustainable Development Goals.

Over the years it has grown to be one of the foremost CSR and sustainability related event in the country. Businesses that take advantage of the sustainability revolution are set to flourish in the coming years, so finding out how you compare is more important than ever. If you enter these awards, you’ll send a powerful message - to your customers, partners and beyond - that your organization is helping to create a sustainable future.

But no matter the result, you’ll be able to network with the country’s top sustainability professionals and honour your team’s hard work by celebrating together. It’s going to be an unforgettable event! For more information visit https://www. ssigh.com/

Ghana, Eni Ghana, MTN Ghana Foundation, Blow Group, Lions Club District 418, Ecobank Ghana Plc, and the Ghana National Gas Company.

Role Model Africa hosts the Business Strategy Forum

Thisyear's edition of the highly anticipated ‘Business Strategy Forum’ was held at the Holiday Inn Hotel, Airport on Thursday 27th and Friday 28th October 2022. The event which was hinged on the theme; V.U.C.A. Gaining Competitive Advantage in An Unstable Market, garnered notable experts and participants from various industries gracing it.

The two-day forum was centred on ways organisations could capitalize on VUCA guidelines to remain relevant and stable in a turbulent market. Dr. Jeff Bassey; Management Consultant, Corporate Trainer, and Country Director of the HR Certification Centre, gave participants of the forum wonderful insights on leadership and how business leaders could maximize that to enhance business growth.

He explained that there is no absolute in leadership, especially in such a volatile time as we find ourselves. “Too many of our companies are over-managed and under-led. Running an organization involves leading people and managing systems”, he told the participants.

Mr. Robert Menaah of Eusbert

Hotel was awe-inspired with the turn-out of corporate and business executives. As a participant, he took his turn to throw in relevant suggestions on how to engage employees to deliver the utmost results. He also emphasized the need to show appreciation to the employees by leaders and to the leaders by the employees.

Mr. King Kojo Sarfo, Managing Director of Firstcode Management Services facilitated the second session. Speaking on the need to build resilient enterprises in the Ghanaian business environment; he enlightened participants on the need to brace themselves for unforeseen circumstances that could bury businesses forever. Using the Ghanaian ecosystem as a case study, he peeled off the many layers of resilience and how to better prepare for such occurrences. A participant, Jeremiah Buabeng, CEO of Buabeng Communications and other enterprises; a highlighted the effect phenomena such as inflation has on businesses irrespective of the industry and sector.

He commended the timeliness of speaking on such a topic as

this.

Day two of the forum saw seasoned speakers from across different industries serving as panelists as they engaged participants on the topic; People Management and Business Growth. Moderated by Rev. Bernie Osei-Duah; a Change and Learning Development Consultant, Arnold Parker of Letshego, Florence Addo-Quaye of Prudential Bank, Jane Kitome of Allianz Life Insurance, Anne Ethel Komlaga of Enterprise Bureau and David Tetteh of Fincap challenged and wowed the audience with time tested nuggets and ways to survive and grow as a business in these times. Their years of experience and expertise in various fields shone through as they answered each and every participant’s questions.

Ahead of the panel discussion, Mr. Emmanuel Deteah, Senior Business Advisor,Startups and Innovative Directorate from the Ghana Enterprise Agency, shared insightful nuggets on innovative opportunities for businesses.

Patrick Otieku-Boadu took the participant through the second session on the last day of the forum.

Speaking on the topic; Resilience Advantage, he expounded on the need to declutter our space as we build resilience in our world. He explained that to create profit in our various enterprises, we need to focus more on compassion. He also revealed the need to take major decisions when one is calm. “In a turbulent and volatile world, we can only be resilient if we do not overcare”, he added.

Participants of the Business Strategy Forum 2022 expressed their delight over the thematic areas, experts who handled each session and the environment to network across various industries and sectors.

The Business Strategy Forum is an initiative of Role Model Africa. Over the years, the organisation has built an admirable track record of gathering critical mass of business leaders and entrepreneurs through various platforms for personal and organizational growth.

The 2022 edition of the Business Strategy Forum was sponsored by; Lumière Creatif, Lucozade, Cowbel, Mx24, Sesil, Delcielo, Investment Times, Wear Purple & YA Cleaning Services

Policy Certainty: Key to reversing oil production decline, and optimizing indigenous natural gas usage in Ghana

By Edmond Kombat, IES

The need to prioritize the development of indigenous petroleum resources have become ever critical for two key reasons; the energy transition and energy security in a volatile energy market. Recent global geopolitical issues and energy trends teaches Ghana that lesson— to prioritize its God-given oil and natural gas resource, to secure its energy requirement and transform the economy.

Domestic natural gas for instance is associated with an economic advantage given that it sells for less than imported liquid fuels and gas, provides reliability and low cost for power generation and industrial use, and reduces the pressure on the local currency. Moreover, a thriving domestic oil and gas sector linked with industry, creates millions of jobs, and develops home-grown expertise among others.

Doric & Dimovski (2018) argues that energy resources provide the necessary facilitator for the development of other sectors of the economy. According to the authors, when it comes to exploration and production of oil and gas, industrialized countries manage these resources in a way that assures the security of oil and gas company investments while decreasing a country’s dependency on imports, enabling better prices to industry and society in general, and having positive impact on the state budget. That was exactly the expectation of Ghanaians when the country struck oil in commercial quantities, and commenced oil production in 2010, beginning with 85,000 barrels per day (bpd) from the Jubilee field.

A decade after the commencement of oil production, poor business climate, incoherent strategic petroleum plan, and inadequate policy support is accounting for under-investment in the upstream petroleum sector, leading to consistent decline in the production of crude oil, and under-utilization of the country’s indigenous natural gas.

Declining Production Trends

Data captured from the Energy Commission (EC) of Ghana shows there has been an increase in oil production at an annual growth rate of 8.7 percent as of the end of 2021. However, over the

three offshore producing fields fields— Jubilee, Tweneboa Enyera and Ntomme (TEN) and Sankofa Gye Nyame (SGN), with 2020 and 2021 recording production falls of roughly 6.3 percent and 17.7 percent respectively, from their preceding year’s production.

The Public Interest and Accountability Committee (PIAC) latest report shows a similar declining pattern with the total volume for half-year (HY) 2022 from the three fields indicating a 6.9 percent decline from HY 2021 production. Thus the PIAC report is suggesting a third consecutive reduction in year-on-year (yoy) crude oil production volumes since 2010. According to PIAC, the present decrease was a result of reduced production on the TEN and SGN fields which recorded a decline of 34.3 and 21 percent respectively.

Energy Commission’s data confirms that oil production from all three fields are showing signs of declines— Jubilee field started declining in 2016 from a peak of 102,498 barrels of oil per day (bopd) in 2015; whereas TEN started declining in 2019 from a peak of 64,541 bopd in 2018. An earlier report commissioned by PIAC and released in March 2022 indicated that production from SGN was projected to decline in 2021 from a peak of 51,232 bopd in 2020.

From all indications total production from Ghana’s three fields has peaked, and may experience continuous decline if nothing is done by way of new in-fill developments on these existing fields, or new fields coming on-stream.

PIAC attributes the decline in production volumes to technical challenges such as poor

the delayed commissioning of gas processing and export infrastructure (gas management challenges), and stalled field developments as no new field has gone into production since 2017. The production declines have been occasioned even though Ghana has signed 18 petroleum agreements/contracts (PAs) since 2004, covering its offshore basins.

Indigenous gas underutilization

Compounding the production decline challenge is the underutilization of indigenous natural gas, an issue that is rapidly transforming the gas sub-sector into a fiscal burden for the country. The situation is as a result of poor demand growth, poor energy strategies, and delay in building the requisite infrastructure to off-take the processed gas, in the face of “take-or-pay” clause in gas contracts.

Records from PIAC shows that over the last 8 years, less than half of the country’s produced gas is utilized for power generation and non-power activities, with the remaining gas either reinjected or flared. For instance in 2021, of the 256,262 million standard cubic feet (MMscf) raw gas (associated and nonassociated) produced from the three producing fields (Jubilee, SGN and TEN), just 98,900 MMscf (38.6%) was exported during the year to Ghana National Gas Company (GNGC), and the Onshore Receiving Facility (ORF) from the fields. Ironically, the re-injected gas constitute 48.0 percent, while total gas flared was 8.3 percent of total produced gas.

This shows that re-injected and flared gas constituent a

clear that the country has excess natural gas, hence the decision to re-inject and flare.

Ghana may be one of the most gas resourced countries in West Africa, but the country is facing the real possibility of reliance on imported natural gas, driven by government’s misplaced priorities in the gas sub-sector. Despite the vast natural gas potential, Ghana has failed to maximize the utilization of its gas— rather choosing to import gas from abroad, to the disadvantage of its indigenous gas resource, and exploration and production (E&P) companies.

Instead of the state given priority to the production and off-take of indigenous gas, it has rather resorted to gambling on the importation of liquefied natural gas (LNG) without giving a thought to the guarantee of sufficient and reliable supply of same. Government’s appetite for natural gas imports in the form of LNG can best be described as shortsighted, morally indefensible, naturally irresponsible, and a deliberate attempt to increase the fiscal burden on the economy.

It is not too late though to rethink its decision to import natural gas from overseas at the expense of its vast natural gas resource. Given the country’s vast gas reserves and the capability of existing contractors to meet the gas need of the country, the state is better off prioritizing gas liquefaction, instead of regasification. It is worth repeating that “the contracting of a regasification facility at this moment is misplaced and wasteful”, in the sense that it is going to create excesses in supply, resulting in cost to the country.

The eighth session of the UN Global Geospatial Information Management sets out its new path

The Economic Commission for Africa hosts the Eighth session of the United Nations Global Geospatial Information Management for Africa in Addis Ababa, Ethiopia.

The event takes place from 26 to 27 October 2022 on the sidelines of the Eighth Statistical Commission for Africa.

In opening the session, Oumar Ka, Executive Board Chair, UN-GGIM Africa, explains the meeting is an opportunity for the regional committee to showcase new policy and trends, discuss technical issues, and other spatial topics.

“We convene this meeting each year because we care hugely about geospatial information management in Africa and the positive transformation of change that we know it can bring us if harnessed correctly,” Mr. Ka stated.

He also notes that GGIM is a tool providing Member States with the methodologies, standards and framework to guide decisionmaking. Mr. Ka stressed the key to succession geospatial information management is understanding each national

context, formulating the right policies to address this context, defining the right objectives and implementing the right actions.

Director of the African Centre for Statistics, ECA, Oliver Chinganya, notes that, “collecting, analyzing and storing as well as using timely and trustworthy data, especially for geospatial and other disaggregated location-based data continue to pose the biggest obstacles for African countries.”

Mr. Chinganya also points out that Member States are implementing the frameworks developed by the regional committee to facilitate the

coordination, development and strengthening as well as the efficient and effective use and exchange of geospatial information for policy formulation, decision-making and innovation.

During the session Member States voted for the election of a new Executive Board. South Africa emerged as the new Chair of the Board, Cameroon as viceChair and Morocco as the second vice-Chair. Uganda will be the new Board's first rapporteur, and Burkina Faso will be the second rapporteur.

The Regional Committee of United Nations Global Geospatial

Information Management for Africa was established to coordinate African geospatial development and to contribute to the broader global initiative.

Over the past decade, the Regional Committee has adopted realistic approaches to ensure that systematic and comprehensive frameworks are put in place, along with related policies, resources and systems to make geospatial information technology easily accessible to decision-makers and the community in a coordinated way.

clientele because they have made us who we are today and for that matter, being acknowledged and awarded”, she acclaimed.

The Executive Chairman of the Jospong Group of Companies (JGC), Dr. Dr. Joseph Siaw Agyepong, has been awarded the Chief Executive Officer (CEO) of the Decade.

Dr. Siaw Agyepong won the award at the 5th Ghana Business Awards (GBAs) held on Saturday, October 28, 2022, at the plush Kempinski Hotel, Accra.

Additionally, the JGC showed its influence and the impact of its result-oriented cluster of companies that seeks to provide excellent services to its clientele across the country

At the awards ceremony, three subsidiaries within the JGC won various awards including the

Logistics Service Provider of the Year - JSA Logistics Limited; Community Impact Award of the Year - Dredge Masters Limited, and; Hall of Fame in the Sanitation Industry-Zoomlion Ghana Limited.

In an interview, the Chief Corporate Communication Officer (CCCO) of the JGC, Ms. Sophia Kudjordji, on behalf of the group thanked the organisers for the acknowledgement of their numerous services and the Executive Chairman who is striving to create job opportunities for all and sundry across the country and beyond.

“At Jospong Group of Companies, we value every

She further indicated that management and staff were poised to continue to provide quality and efficient services to the business community and Ghana at large.

She, therefore, used the occasion to thank staff members and management for their resilience and commitment to the mission and objectives of JGC in their small way by ‘improving lives wherever we find ourselves',

“management appreciates and values every single sweat, ideas, energy of every staff in their quest to provide excellent services, hence satisfying its clientele in waste management, hospitality, IT consultancies, manufacturing and construction among others across the length and breadth of Ghana and beyond”, she reiterated.

The Chief Operating Officer of JGC, Dr. Samanjith Udumalagala, received the CEO of the Dacade award on behalf of the Group Executive Chairman, Dr. Agyepong, while Captain Ansar Khan, Managing Director of

Dredge Masters and his team received their Community Impact Award.

Some of the dignitaries present were Madam Samia Nkrumah (former Chairperson of the CPP and daughter of Dr. Kwame Nkrumah), His Excellency Javier Gutierrez (the Spanish Ambassador to the Republic of Ghana) and His Excellency Meshal Hamda AlRogi (Ambassador of the Royal Embassy of Saudi Arabia).

The Ghana Business Awards is a prestigious awards scheme that recognizes and rewards excellence across all sectors in Ghana.

The awards provides a platform to recognise individuals and companies that play a significant role in the growth and development of their business sector while recognising the key sector that promotes growth and sustainability.

And also serves as a benchmark of excellence for company performance despite the recurring challenges and these benchmarks are based on some key performance indicators (KPIs) to derive the standards of excellence.

Dr. Agyepong Wins CEO Of The Decade Award As Jospong Shines At Ghana Business Awards

The freestyle: More thana projector

you touch the power button for a quick and hassle-free setup.

The Freestyle also freely rotates up to 180 degrees, allowing you to find the perfect position without moving the projector. Easily change the angle to display content anywhere in your home whether it’s on the wall, the ceiling, the floor, or the table. You can also power on and off the device using only your voice, so it’s perfect for when you’re ready to fall asleep.

Life of the Party: Customizable Features Worth Celebrating

The Freestyle, a smart portable projector from Samsung, offers groundbreaking technology and flexibility to deliver optimal viewing and entertainment for customers looking to bring video and audio content wherever they go.

The Bigger, The Better

The Freestyle makes streaming easier than ever, no matter how much space you have. Enjoy watching content on a large screen up to 100 inches (requires a separate screen) anytime, anywhere. For sports fans, a

large screen is a must. With The Freestyle, you can still experience the game-day atmosphere by simply inviting friends over and cheering for your favourite team while enjoying The Freestyle’s large screen and high-quality sound as if you were at the match.

Perfect for Both Indoors and Outdoors

With The Freestyle, you can create your own space for watching content anywhere, whether indoors or outdoors. What if you’re watching your favourite movie at home, and you suddenly need to leave

your house? As long as you take The Freestyle with you, you can resume your movie from where you left off at your new location whether it’s your friend’s place, a hotel abroad, or even outdoors.

Find Your Sweet Spot: Entertainment for Anywhere in Your Home

Stream a movie with your family in the living room, and then take The Freestyle with you when you want to watch something in your bedroom. Designed for portability, The Freestyle automatically adjusts the level, focus and keystone as soon as

When it’s not being used as a projector, The Freestyle has an ambient mode that allows you to customize your space with mood lighting effects. With high-quality 360-degree sound and Bluetooth connectivity, The Freestyle is a great choice to play music at your next party. The Freestyle also offers a variety of colours that gives users the freedom to express their unique style down to the smallest detail. It’s easy to upgrade the look of your projector with soft, protective rubber covers in a range of colour options such as Blossom Pink, Forest Green, Coyote Beige.

The Freestyle goes beyond to give you the freedom to customize and consume content wherever, whenever and however you want. This ultraportable, smart TV projector combines high-quality visuals and immersive audio to deliver an entire entertainment experience that makes it more than a projector.

Transform your space and express yourself with the infinite possibilities provided by The Freestyle, made to fit your lifestyle, available now in all authorised Samsung stores.

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Digital skills will propel you in the 21ST Century – Dep. Comms. Min tells youth

By Eugene Davis ugendavis@gmail.com

TheDeputy Minister of Communications and Digitalisation, Ama Pomaa Boateng has underscored the need for digitalization in the 21ST Century and its effect on the Ghanaian economy, which she reckons the youth has to embrace to succeed in this current dispensation.

Speaking at the launch of the 2022 Huawei Seeds for the Future Programme in Accra, Ghana, she said “as the 4th Industrial Revolution (4IR) beacons, all hands are needed on deck to fully realize the potential of digitalization and its resultant effect on the Ghanaian economy. This calls for motivating and inspiring our youth to embrace ICT education, equipping them with the digital skills they need to thrive in the 21st century and creating more employment through direct jobs and entrepreneurship.”

According to her the Ministry of Communication under its GirlsIn-ICT initiative partnered with Huawei to train and empower more girls in digital technologies, with over 12,000 Senior High School girls trained in Privacy Protection and Cyber Security this year.

The training was to equip these young girls with the requisite ICT skills and knowledge whiles motivating them to take up careers in STEM.

Further, she said the

Ministry of Communications and Digitalization under the Government of H.E. Nana Addo Dankwa Akufo-Addo is very keen on Digitalization and believes one of the surest ways to accelerate the Digitalization process and propel Ghana into a digital economy is through ICT skill training and capacity building. “It is therefore important that we nurture young ICT Talents to give our great nation a more formidable future while remaining competitive in the global market.

To our 2022 Seeds for the Future Beneficiaries, as you begin your 8-day Seeds for the Future journey aimed at exposing you to cutting-edge technologies, the Chinese culture and other industry trends. I urge you to enjoy the program, develop your leadership skills, become independent thinkers and build good networks.”

As part of this year’s program, 50 top female tertiary students will embark on an intensive 8-days virtual training from October 31 to November 7 after which the whole event will be climaxed with a mentorship and awards ceremony scheduled for 9th November, 2022.

This year’s program will introduce students to advanced ICT courses in the areas of Artificial Intelligence, 5G, Cloud Computing, Digital Power, Digital Trade, Smart City and IoT whiles building their leadership capabilities in courses like Strategic Leadership and CrossCultural Management.

Beneficiaries will also get the opportunity to experience technology and the rich Chinese culture including but not limited to Chinese Martial Arts, Kunqu Opera, Secrets of the Forbidden City and other insights about Traditional and Modern China.

Participants will also be grouped to embark on a “Tech4Good” project to develop solutions for societal and environmental problems after which the best group will be awarded.

The Huawei Ghana Deputy Managing Director, Essuman Quansah indicated that technologoy remains the key driver of economic growth and encouraged all participants to harness the opportunities.

“At Huawei we believe the future is female and as such, I will urge all beneficiaries to take the training seriously, learn from best in the industry, and ensure that the resource invested in them does not go waste.

Technology is the key driver of economic growth for countries, regions and societies, we will therefore entreat all participants

to harness the opportunities which lay bare before them through the Seeds for the future training, to advance their skillset and knowledge, boost their creativity, and become independent thinkers whose creative ideas can impact society positively.

As you will be you be pairing with other countries like Iceland, Norway, Sweden, Finland and Baltics we expect you to represent Ghana positively, take your classes seriously as you network and leap into a brighter future with the tools provided.”

The 2022 Huawei Seeds for the Future Program is an All-Girls edition aimed at equipping more young females to take up careers in STEM (Science Technology Mathematics and Engineering).

Huawei as a responsible corporate entity has at its forefront the development of more local skilled ICT talent, as a means of giving back to the society in which it operates and contributing its quota towards the development of Ghana.

Emirates boarding pass unlocks hundreds of offers in Dubai this winter

Emirates has today announced the return of its popular My Emirates Pass. Starting from 1st November 2022 to 31st March 2023, My Emirates Winter Pass enables customers to get more from their trip with exclusive offers at over 500 locations in the UAE.

Emirates customers flying to or through Dubai can simply show their boarding pass and a valid form of identification to hundreds of retail, leisure and dining outlets, as well as famous attractions and luxury spas, to enjoy fantastic discounts throughout Dubai and the UAE. To see all My Emirates Pass offers, please visit https:// www.emirates.com/gh/english/ experience/my-emirates-pass/.

In addition, Emirates passengers

can also enjoy a complimentary ticket* to Tour Dubai’s one hour Creek Sightseeing Cruise, which gives unrivalled panoramic views of Dubai’s historic district from a traditional dhow boat.

Explore more of Dubai with Emirates

Whether it’s catching up on major sports events such as the Emirates Airline Dubai Rugby Sevens and DP World Tour golf events, or immersing yourself in the festive celebrations this December, there is something for every traveller when visiting Dubai this winter season. From sun-soaked beaches and heritage activities to world class hospitality and leisure facilities, Dubai offers a variety of world-

class experiences.

• Emirates Holidays: Customers can book their holiday to Dubai through Emirates Holidays. All Emirates Holidays include flexible booking options. Whilst for even more peace of mind, Emirates Holidays’ dedicated 24/7 On Holiday Service team will be there to support holidaymakers for every moment that they’re away.

• Skywards partners: Members of Emirates’ awardwinning loyalty programme, Skywards, can earn Miles on everyday spends at retail outlets in the UAE, and redeem these Miles for reward tickets, upgrades, as well as tickets for concerts and sports events. Learn more about Emirates Skywards here: https://

www.emirates.com/gh/english/ skywards/.

• Dubai Experience: Customers can now browse, create and book their own customised itineraries including flights, hotel stay, visits to key attractions, and other dining and leisure experiences in Dubai and the UAE, through Emirates’ Dubai Experience platform, and enjoy even more unique benefits.

Emirates has safely restarted operations to more than 130 destinations, across six continents and currently operates 7 flights per week from the Accra to Dubai.

For more information, visit emirates.com. Tickets can be purchased on emirates.com, Emirates Sales Office, via travel agents or through online travel agents.

A Chinese path to modernization benefiting the world

By H.E. LU Kun, Chinese Ambassador to Ghana

The 20th National Congress of the Communist Party of China (CPC) came to a successful conclusion on 22th October after electing a new CPC Central Committee with Comrade Xi Jinping at its core. The Congress is a meeting of great importance. It takes place at a critical time as the entire Party and the Chinese people of all ethnic groups embark on a new journey to build China into a modern socialist country in all respects and advance toward the Second Centenary Goal. The Congress took stock of the great achievements and accumulated valuable experience in an allround manner and charted the course for China's development in the future. The Congress is not only of great significance to the development process of the CPC and China, but also has a farreaching impact on the world.

Tens Years of Miraculous Achievements

Ten years have passed since the Party’s 18th National Congress. The past decade marked three major events of great immediate importance and profound historical significance for the cause of the Party and the people: We embraced the centenary of the Communist Party of China; we ushered in a new era of socialism with Chinese characteristics; and we eradicated absolute poverty and finished building a moderately prosperous society in all respects, thus completing the First Centenary Goal. China embarks on a new journey towards a modern socialist country in all respects.

In the past decade, the Chinese people have, under the leadership of the CPC, continued to create impressive miracles. Nearly 100 million rural residents living below the poverty line emerged from poverty, enabling China to meet the poverty reduction target set out in the UN 2030 Agenda for Sustainable Development 10 years ahead of schedule. We have put forward and applied a new development philosophy, worked hard to promote highquality development, and pushed to foster a new pattern of development. China thus has witnessed a historic rise in it economic strength: its GDP has

accounting for 18.5% of the world economy，the average annual growth rate reached 6.6%; its per capita GDP surpassed 12,000 U.S. dollars, with a middleincome group of more than 400 million people; China contributes 38.6% to world economic growth, surpassing the total contribution of G7 countries; its manufacturing sector and foreign exchange reserves remain the world's largest. We have pursued a more proactive strategy of opening up. China has become a major trading partner for more than 140 countries and regions, leading the world in total volume of trade in goods. The Belt and Road Initiative has been welcomed by the international community. China's ranking on the Global Innovation Index(GII) has risen from 35th a decade ago to 11th in 2022. Guided by a people-centered philosophy of development, China has built the largest education, social security,

world, life expectancy reached 78.2 years, making further progress in achieving common prosperity for all.

A Grand Blueprint Lies Ahead

From this day forward, the central task of the Communist Party of China will be to lead the Chinese people of all ethnic groups in a concerted effort to realize the Second Centenary Goal of building China into a great modern socialist country in all respects and to advance the rejuvenation of the Chinese nation on all fronts through a Chinese path to modernization.

Chinese modernization is socialist modernization pursued under the leadership of the Communist Party of China. It contains elements that are common to the modernization processes of all countries, but it is more characterized by features that are unique to the Chinese

context. It is the modernization of a huge population, of common prosperity for all, of material and cultural-ethical advancement, of harmony between humanity and nature and of peaceful development.

To pursue high-quality development is the first and foremost task to build a modern socialist country in all respects. China will fully and faithfully apply the new development philosophy on all fronts, continue reforms to develop the socialist market economy, promote high-standard opening up, and accelerate efforts to foster a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows.

Promoting Peace and Development for the World

China has always been committed to its foreign policy goals of upholding world peace and promoting common development, and it is dedicated to promoting a human community with a shared future. China remains firm in pursuing an independent foreign policy of peace. It has always decided its position and policy on issues based on their own merits, and it has strived to uphold the basic norms governing international relations and safeguard international fairness and justice. China stands firmly against all forms of hegemonism and power politics, the Cold War mentality, interference in other countries’ internal affairs and double standards. China will never seek hegemony or engage in expansionism.

China adheres to the Five Principles of Peaceful Coexistence in pursuing friendship and cooperation with other countries. It is committed to promoting a new type of international relations, deepening and expanding global partnerships based on equality, openness, and cooperation, and broadening the convergence of interests with other countries. Guided by the principles of sincerity, real results, affinity, and good faith and with a commitment to the greater good and shared interests. China endeavors to strengthen solidarity and cooperation with other developing countries and safeguard the common interests of the developing world. China plays an active part in the reform and development of the global governance system. It upholds true multilateralism, promotes greater democracy in international relations, and works to make global governance fairer and more equitable.

China is committed to its fundamental national policy of opening to the outside world and pursues a mutually beneficial strategy of opening up. It strives to create new opportunities for the world with its own development and to contribute its share to building an open global economy that delivers greater benefits to all peoples. China adheres to the right course of economic globalization. It is committed to working with other countries to foster an international environment conducive to development and create new drivers for global growth.

Over the past ten years, China has successfully hosted four China International Import Expositions and set up 21 pilot

free trade zones. China proposes the establishment of the Asian Infrastructure Investment Bank and the New Development Bank, signed more than 200 documents on Belt and Road cooperation with 149 countries and 32 international organizations. From 2013 to 2021, cumulative trade in goods between China and countries along the Belt and Road Initiative reached nearly 11 trillion US dollars, the two-way investment exceeded 230 billion US dollars. Since the outbreak of COVID-19, China has coordinated epidemic prevention and control and economic development, and played a key role in maintaining the stability of global supply chains and industrial chains.

China remains Africa’s largest trading partner for 13 consecutive

years. In 2021, the bilateral trade volume reached $254.3 billion, up 35.3% year-on-year and hitting a record high. By the end of 2020, Chinese companies had invested more than $43 billion in Africa, covering highway, electricity, telecommunications and port projects etc. Chinese companies have helped African countries build and upgrade over 10,000 kilometers of railway, around 100,000 kilometers of highway, 1,000 Bridges, 100 ports, and many large-scale power plants, hospitals and schools, which have boosted economic growth, increased tax revenues, created jobs and improved people’s lives, bringing tangible benefits to the African people.

Today, our world, our times, and history are changing in

ways like never before. Human society is facing unprecedented challenges. At this new historical starting point, China stands ready to work with the international community to implement the Global Development Initiative and the Global Security Initiative, and join forces to meet all types of global challenges. China will continue to honour the principles of sincerity, real results, affinity, and good faith and with a commitment to the greater good and shared interests, put forwarded by President Xi Jinping. We will enhance partnership with Africa of mutual respect, equality and sincere cooperation, so as to accelerate common development and prosperity, and truly build a China-Africa community with a shared future in the new era.

Vodafone Ghana collaborates with KNUST to

mobile data, free calls, access to online resources, and wide area network solutions with dedicated internet.

Under Connected Education, Vodafone can also provide managed Wi-Fi and unified communication services and enable a cashless campus through Vodafone Cash.

Patricia expressed her hope that the project would be a model that would inspire other universities. “I’m happy to see all the infrastructure that has been set up here, and I ask that the students value the effort that has been put in and put it to good use.”

Vodafone

Ghana has partnered with the Kwame Nkrumah University of Science and Technology (KNUST) to open a digital learning centre in the College of Engineering to facilitate remote education.

Speaking during the brief inauguration ceremony, the Chief Executive Officer of Vodafone Ghana, Patricia OboNai, acknowledged Professor Rita Akosua Dickson, the Vice Chancellor of KNUST, and

Engineering, for their leadership and support for the project.

“For such projects, you need a team to collaborate with you, and Vodafone Ghana has enjoyed a rewarding partnership under their leadership. I am grateful for that,” she said.

Speaking on the project, Patricia said, “We must contribute our lot to the education of our youth and the future of this country.

tools and strengths that we have as a technology company. And therefore, we brought this service to the campus for the university’s benefit.”

She added that the project was part of Vodafone Ghana’s “Connected Education” service. This service includes mobile services that let students and school administrators work together through discounted

The Vice Chancellor of KNUST expressed her thanks to Vodafone Ghana, saying, “In our noble agenda of training ethical and transformative leaders, we have always believed in enduring and constructive partnerships. COVID-19 showed us how important it is for us to have universities without walls. Therefore, we put a premium on this gesture from Vodafone and we thank you.”

She asked other groups and institutions to follow Vodafone Ghana’s example and support the university’s digitisation agenda.

Vodafone wins big at Ghana Business Awards, CIMG Awards

Vodafone

Ghana won three different awards at the Ghana Business Awards and the Chartered Institute of Marketing Ghana (CIMG) Awards held over the weekend.

At the Ghana Business Awards, Vodafone Ghana was named Telecommunications Company of the Year, and Patricia Obo-Nai, the company's Chief Executive Officer (CEO), won the CEO of the Year (Private Sector) Award.

At the CIMG Awards, Vodafone Ghana was again named the Telecommunications Company of the Year.

The two prestigious awards schemes recognise, and reward excellence based on rigorous criteria for shortlisting nominees. Key indicators for awards in these schemes include, among other things, technology and innovation, excellence, and impact on society.

Speaking about the awards, Patricia Obo-Nai said that Vodafone Ghana's success is due to the support of its customers and all stakeholders.

"It is a great honour to see how, over the years, Vodafone Ghana

for our dedication to customer satisfaction and leadership. Indeed, we are immensely proud of what we have achieved as an organisation, but we recognise that we could not have come this far without the support and loyalty of our customers and all stakeholders. We therefore dedicate these awards to all our customers."

which are organised by Globe Productions Limited, gives individuals and businesses a chance to be recognised for their important contributions to the growth and development of their business sector. The awards also highlight the key functions within the sector that help it grow and stay strong.

The CIMG Awards, organised

by the Chartered Institute of Marketing, Ghana (CIMG), is another well-known award that honours excellence in the business world.

It aims to increase awareness of marketing and its importance to business success, as well as to promote high professional standards and encourage excellence among marketing practitioners.

Musk takes Twitter helm, enacts sweeping change as deal closes

ElonMusk wasted no time taking complete control of Twitter Inc. The billionaire appointed himself chief executive officer, dismissed senior management and immediately began reshaping strategy at one of the world’s most influential social media platforms as his $44 billion take-private deal closed.

Musk, 51, is replacing Parag Agrawal, who was fired along with three other top executives, a person familiar with the matter said, asking not to be identified discussing internal deliberations. The mercurial entrepreneur, who also leads Tesla Inc.and SpaceX, may eventually cede the Twitter CEO role in the longer term, the person added. Twitter representatives declined to comment.

Musk’s acquisition puts the world’s richest man in charge of a struggling social network after six months of public and legal wrangling. Among Musk’s first moves: changing the leadership.

Departures include Vijaya Gadde, the head of legal, policy and trust; Chief Financial Officer Ned Segal, who joined Twitter in 2017; and Sean Edgett, who has been general counsel at Twitter since 2012. Edgett was escorted out of the building, Bloomberg News reported.

Musk also intends to do away with permanent bans on users because he doesn’t believe in lifelong prohibitions, the person said. That means people previously booted off the platform may be allowed to return, a category that would include former president Donald Trump, the person said. It’s unclear however if Trump would be allowed back on Twitter in the near term.

In response to a Twitter user complaining they are being “shadowbanned, ghostbanned, searchbanned,” as well as having followers removed, Musk said in a tweet on Friday that he will be “digging in more today

East African Breweries supports Kenyan families facing hunger with KSh30m

EastAfrican Breweries PLC (EABL), along with other corporates, has announced

Humanitarian Initiative geared toward raising food distribution funds to families facing hunger

to the tune of KSh30 million.

The fundraising initiative comes when famine and drought

Semi-Arid Lands (ASAL).

The ongoing drought has been termed the worst in over 40 years and currently affects 23 Counties.

The Chief Guest, Deputy President of Kenya, Rigathi Gachagua, reiterated the government’s commitment to mitigating the current food crisis and thanked the private sector for partnering with the government.

East African Breweries PLC (EABL) Managing Director Jane Karuku attended the ceremony, where she handed over the KSh.30 million cheque.

She affirmed EABL's commitment to creating shared value, and empowering the communities that live, work, source and sell around the brewery.