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BUSINESS24.COM.GH
NO. B24 / 166 | NEWS FOR BUSINESS LEADERS
WEDNESDAY MARCH 3, 2021
Ghana asked to tap FDI for postCovid recovery O
PIAC backs using local salt to feed oil industry By Benson Afful affulbenson@gmail.com
il producing companies (OICs) in the country import salt, one of the key products in the production of oil, from other countries, a situation the Technical Director of the Public Interest and Accountability Committee (PIAC), Mark Agyemang, said can Cont’d on page 3
Picture by Kobby Blay
Normality beckons as vaccination begins By Nii Annerquaye Abbey
Yofi Grant who heads the Ghana Investment Promotion Centre leads government’s drive to attract FDI
By Eugene Davis ugendavis@gmail.com
P
rof. Joe Nellis, the Deputy Dean of the School of Management, Cranfield
Radisson, Earlbeam partner on Earl Heights Suites Hotel
University, UK, has advised government to consider attracting more foreign investments to the country as one of the post-Covid-19 recovery strategies to shore up
abbeykwei@gmail.com
the economy. Speaking at a virtual public lecture organised by the University of Ghana Cont’d on page 2
By Patrick Paintsil
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hana on Tuesday kickstarted its drive to vaccinate at least 20m citizens against the deadly coronavirus – to pave way for the full reopening of the country’s economy.
p_paintsil@hotmail.com
L
eading global hotel brand Radisson Hotels Group has partnered with local real estates developer Cont’d on page 5
Cont’d on page 3 Follow us online: facebook.com/business24gh twitter.com/business24gh linkedin.com/pg/business24gh instagram.com/business24gh
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Editorial / News
WEDNESDAY MARCH 3, 2021
Editorial
Vaccine negativity must be dealt with
O
n Tuesday hundreds of Ghanaians lined up at various centers designated for the administering of covid-19 vaccines. The exercise kickstarts the process that is expected to see more than 20 million Ghanaians inoculated. Barely a week ago, the Health Ministry an initial 600,000 vials of vaccines donated to the country as part of the Covax initiative backed by multilateral institutions such as Gavi and the World Health Organisation. The vaccination exercise has been put in four different phases. The first-phase vaccination plan commenced with members of the executive, frontline health workers, security personnel,
and persons aged 60 years and above with underlying health problems. The mass vaccination is taking place amidst lingering public skepticism regarding the safety of the vaccines. Deep-seated sentiments against the vaccine were long sowed at the onset of the pandemic as many attributed the disease to a world order of a sort. As that thinking festered, it allowed more people to grow wary of attempts to nip the virus in the bud. While the discovery of the vaccine should have brought relief to the entire globe, to those conspiracy theorists it was a validation of their long-held
fears. Nevertheless, the government had ample time to institute a campaign at least to educate people about the need to get inoculated. With the start of the first phase of the exercise, it may not be too late to ramp up the education given that the exercise is yet to reach the mass population. This paper would like to reiterate the call of the President and other high-profile dignitaries who have taken the vaccine, that the exercise remains our surest bet to beating this deadly virus. Let’s discard this negative attitude to the vaccines – it only puts us in the harm’s way of a virus that has killed more than 2 million people worldwide.
Ghana asked to tap FDI for post-Covid recovery Continued from cover
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Business School (UGBS) on the topic “Prospects for the Global Economy in the Aftermath of the Covid-19 Crisis”, Prof. Nellis stated that the pandemic has hit many investments in parts of the world including Ghana, and now is the time for massive support and investments in developing countries like Ghana to boost productivity. Regarding a recovery strategy particularly for Ghana, he said: “I think it has to rely on foreign direct investments, and I wish it didn’t because I can be very critical of inward investments from overseas. But given the scale of investments required, there is the need to open up even more to inward investments.” Investment, he maintained, is the engine of growth. “That is how you increase productivity. And of course this pandemic has massively hit investment expenditure in many parts of the world including Ghana, as companies have delayed their investments. We need to stimulate that investment.” Other suggestions he proffered to attract investment are
Prof. Joe Nellis says foreign investment is key in the short term for post-Covid recovery in Ghana.
providing tax reliefs on capital expenditure, offering deals to foreign companies, tax free zones, free ports, corporate tax holidays, and subsidised land. He however cautioned the country to be vigilant when brokering foreign investment deals, saying: “If a country is in trouble, the danger is you may end up doing deals that may not
be the best deals in the long term.” Noting that developing countries are more vulnerable to the global trade cycle, with their exports dependent on advanced economies, he urged African countries to develop formidable trade blocs which will help the continent negotiate better trade deals in order to build a resilient economy post-Covid.
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PIAC backs using local salt to feed oil industry Continued from cover be resolved if the Songhor Salt Project is revived fully. He said the salt is mostly imported from Senegal, while Ghana has the capacity to produce it locally. “I know the government has been working to revive the Songhor Salt Project. That will go a long way to boost oil production in the country,” he told the Business24 on the sidelines of the launch of PIAC’s semi-annual report for 2020. Songhor has about 34,775 acres of lagoon basin on the Atlantic Coast of Ghana, with the greatest potential for large-scale salt production in West Africa for export and industrial use. Though Mr. Agyemang was not able to quantify the amount of money that the OICs spend on importing salt into the country annually, it is thought that these companies spend millions of
dollars importing the commodity. Last year, Parliament approved three mining lease agreements granting mineral rights to an investor, Electrochem Ghana Limited, to dig for, mine and
produce salt at Ada Songhor area in the Greater Accra Region. The project, with a production capacity of over 200,000 tonnes, is expected not only to create employment for the people in the area but also to feed the petroleum industry with raw material for oil production.
In July 2007, Tullow Oil and Kosmos Energy discovered oil in commercial quantities in the Western Region, and in 2010, the country lifted its first oil cargo of 1.1m barrels. In the last 10 years, the country has produced and exported about 420m barrels of oil.
Normality beckons as vaccination begins Continued from cover A week ago, the Ministry of Health took delivery of an initial 600,000 vials of vaccines donated to the country as part of the Covax initiative backed by multilateral institutions such as Gavi and the World Health Organisation. The four-phase vaccination
plan commenced with members of the executive, frontline health workers, security personnel, and persons aged 60 years and above with underlying health problems. The mass vaccination is taking place amidst lingering public skepticism regarding the safety of the vaccines. Health Minister Kweku
Minister of Health Kweku Agyemang-Manu receiving his jab at the Korle-Bu Teaching Hospital
Agyemang-Manu, who was among a high-profile list of dignitaries to receive their jabs at the KorleBu Teaching Hospital, told Business24 that claims about dangers associated with the vaccine are unfounded. “We have done vaccinations in this country for years. Now certain diseases are no longer present
in our country – for instance, measles, polio, and several other ones. So, vaccines are nothing new to us. I don’t think this is the time anybody wants to use vaccines to destroy our country,” he said. A survey to assess the potential acceptance of the COVID-19 vaccine among Ghanaians, conducted by iRIS Research Consortium, found that about 4 in every 10 Ghanaians say they would not get the vaccine. “In general, there is about 60 percent vaccine acceptance levels within the sampled adult population, indicating an overall positive attitude towards taking the vaccine. Nevertheless, our survey results suggest that attaining the proverbial 70 percent herd immunity threshold in Ghana is only possible if the preventive vaccination programmes, which just commenced in-country, are combined with an enhanced and coordinated public education campaign,” the researchers said in a press release. President Nana Akufo-Addo, who on Monday became the first person to receive the jab, appealed to Ghanaians to participate in the process when it becomes fully available to the general public, as it is the surest way of returning to a path of normalcy.
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News
WEDNESDAY MARCH 3, 2021
Ghanaian shippers, manufacturers strategise for AfCFTA
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he Ghana National Chamber of Commerce and Industry in collaboration with the Ghana Shippers’ Authority, has held a semi-virtual seminar in Accra on the African Continental Free Trade Area for the trading community of Ghana. The multidisciplinary seminar brought together experts from the legal practice, financial sector, customs, policy makers as well as representatives of private sector to discuss how businesses can strategize to fully benefit from the single continental market. The Minster Designate for Trade and Industry, Alan
Kyeremanteng, in a speech read on his behalf by Dr. John Asiedu, revealed that the government has established key national institutional structures to oversee the implementation of the trade agreement which include the AfCFTA inter-ministerial facilitation committee, the national steering committee and technical working groups in 7 clusters identified in boosting intra-African trade. The President of the GNCCI, Clement Osei Amoako, underpinned the significance of private sector participation for the success of the AfCFTA. “The private sector’s interest,
and support for the AfCFTA has been phenomenal. This is based on the premise that production and distribution of goods and services are largely undertaken by the private sector.” Chief Executive Officer of the Ghana Shippers’ Authority, Benonita Bismarck, lauded the important roles industry players are taking to sensitize traders to position them for success in the AfCFTA. Anthony Nyame-Baafi, a technical advisor at the Ministry of Trade and Industry, outlined a myriad of benefits of the single continental market including the fact that it would boost economies
of large-scale production. “It will develop regional value chains and facilitate crossborder investments so that if it is properly implemented, we will be having a lot of made-inAfrican products,” he added. An Assistant Commissioner of the Customs Division of the Ghana Revenue Authority Fechin Akoto emphasized the importance of the rules of origin in the trading protocols and encouraged trading public to make use of the information published on Customs digital platforms when making decisions on trading with other member states. “Ghana has signed up to the agreement and has also ratified so it is a state party, same as South Africa, so we can do business with them under the AfCFTA. Those that has signed but haven’t ratified are deemed to be member states, so get the difference. When you’re dealing with them, you should know their status,” he educated. David Ofosu-Dorte, partner at AB & David Law Firm, and executive of Afro-Champions Organisation, discussed various forms businesses in Ghana can align their strategies with that of the AfCFTA strategy, especially by formalizing their methods. “It is very simple: It will require that processes are reinvented at the business level as well as the association level, so that with this reinvention, we can take advantage of this new era and integrate into the wider African market,” he articulated.
Ghanaian shippers, manufacturers strategise for AfCFTA Continued from cover Earlbeam Group to develop Earl Heights Suites Hotel, an up-class hospitality facility in the country. The facility, when completed, will be Radisson Individuals’ first property in Africa and will firmly place the company on track to achieving its objective of reaching 150 hotels in operation or under development by 2025. Earl Heights Suites Hotel is set out in a strategic location that offers convenience to guests both local and foreign with ease of access as well as aviation facilities and connections. The 58-serviced apartments property will comprise of modern studios as well as spacious and elegant one- and two-bedroom suites.
Creating a true destination for its guests, the property will offer culinary options in the restaurant—The Society—which will include outdoor seating as well as in the hotel bar. The property will also feature a spa, gym, pool, convenience store, and business centre, providing the perfect base for both business and leisure. At a brief signing ceremony in Accra, Erwan Garnier, Radisson Hotel Group’s Senior Director, Development, Africa, indicated that the partnership was aligned with the company’s conversionfocused growth strategy, which will remain a priority, especially post-pandemic. “We are proud that Radisson Individuals’ African debut will be on Ghanaian soil, carving
the path for the new brand to continue its expansion across the continent. In proud partnership with Earlbeam Group of Companies, we are thrilled to be contributing to the country’s tourism industry, a key pillar of the national economy,” he said. He added: “We have identified Ghana as a key focus country in our five-year development plan and, Accra as a focus and primary city.” Radisson Hotel Group operates to high standards of performance and advocates socially and environmentally sustainable business practices all of which will be imbedded in the new facility in Accra. Alfred Danso Darkwah, Chief Executive Officer of the hotel’s
owning company, Earlbeam Group of Companies, said the marriage of the two wellseasoned brands from the hospitality and real estate sector respectively will offer partner confidence, guarantee of service standards, and assured safety and security, leaving a positive mark on Ghana’s hospitality sector. He said: “This will be the first branded apart hotel in Ghana, completely unique, providing each guest a boutique homeaway-from home experience. We believe this Radisson Individuals hotel will inject much-needed life within the local hospitality industry and pave the way for upcoming projects between the two globally recognised brands.”
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Opinion
WEDNESDAY MARCH 3, 2021
Why insurance remains a good option for surviving these times
By Setor Quashigah, Head Wealth Management Standard Chartered Bank Ghana PLC
O
ne of the most important lessons of the pandemicstruck 2020 is the need to stay safe. Alongside staying safe, the uncertainties brought about by the scourge of the virus means that protecting one’s income has also become more critical. Mitigating the risks presented by the pandemic ought to be of topmost priority for anyone mindful of their finances in these highly uncertain times. One of the best bets in mitigating the risk exacerbated by the pandemic is insurance. Often many view insurance policies from the narrow lens of premium payments but when assessed in the broader context, insurance guarantees financial security as well as priceless peace of mind that is needed to navigate these uncertain times. While there are numerous insurance products or policies out there to choose from to meet one’s needs, the importance of selecting an insurance company that has a proven track record is non-negotiable. Through a partnership between Standard Chartered Bank and Prudential Life Insurance, planning for life’s eventualities has been made
easier. The comprehensiveness of the products available truly offers that needed peace of mind like no other. Indeed, one of the must have insurance policies this year is one that guarantees your children’s educational needs no matter what happens to you the parent. This is where the Future Plus Plan policy comes in handy. One can choose between a cover duration of between eight and 25 years where they can elect to pay a chosen premium which ranges from GH¢100 to GH¢5,000. At the maturity of the policy, the holders get to enjoy their accumulated funds as well as interest. One of the features of this policy is that, should the policy holder pass away or suffer from permanent disability, the premium will be paid on their behalf by the insurance till the stipulated cover duration elapses and benefits given out to the designated next of kin. A superior funeral policy Death apart from the sorrow it brings could also be costly if one is not financially prepared. A typical funeral policy covers the holder and other key members of the nuclear family. The Life Secure Plan policy offered by Standard Chartered and underwritten by Prudential
Life Insurance offers more flexibility. Policy holders can insure up to 14 members of the family, nuclear or extended. In the event of any eventuality, the sum that could be paid out ranges from GH¢20,000 to GH¢50,000. And it is also worth noting that there is a money back guarantee if there are no claims made within a specified period. Your life matters most It is not uncommon to see people make so much plans for the people around them while they do not take steps to have a personal life insurance cover in the case of any eventuality. Arguably, one of the best life insurance policies on the Ghanaian market is the Legacy Life Plan. This policy has a minimum cover of GH¢50,000 and a free cover limit (without a medical examination) of GH¢200,000. Claims are accessible in the event of death, total permanent disability or any critical illness. One useful feature of this policy is that it offers free annual check-up provided the policy holder pays all his/her premiums in a policy year. Policyholders are entitled to 100 percent cash back at the end of the term of an active policy if they did not make claims. This is a departure from a lot of products out there which only guarantee a
certain percentage if no claims are made at the end of term of an active policy. Standard Chartered also partners with Enterprise Insurance to ensure we get the best of general insurance cover for client vehicles and property. With the onset of COVID-19, Enterprise Insurance has processed and paid claims remotely without the need to visit either a Standard Chartered Branch or an Enterprise Insurance office. For convenience and peace of mind with your property, consider insuring through Standard Chartered Bank Ghana PLC Well, 2020 is one year everyone will be in a hurry to forget. But the important lesson that unfortunate year taught everyone is to take concrete steps and make plans for the unavoidable life exigencies. You can count on Standard Chartered bancassurance products to give you a stress-free 2021.
The author
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Companies
WEDNESDAY MARCH 3, 2021
Glovo launches its multi-category delivery service in Ghana
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lovo, one of the world’s leading multi-category delivery players. has launched its operations in Ghana. The multi-category delivery start-up entered Africa in 2018 and is currently present in four countries on the continent. The expansion into Ghana will make it the second market in West Africa and the fifth African country where the firm has established operations. The on-demand platform aims to make the lives of Ghanaians easier by providing access to convenient delivery services. From today, Glovo’s users will be able to receive deliveries anywhere in Accra from local restaurants. stores and businesses in the city. Through the Glovo app, users can simply log on and order food. groceries and drinks. or they can send a courier to pick up what they need.
Pearlyn Budu, General Manager for Glovo Ghana
The app also has a special feature known as the “anything” category, which allows consumers to order whatever they want
from restaurants. grocery chains. pharmacies and retail stores. Pearlyn Budu, General Manager for Glovo Ghana, said: “We
are excited about launching in Ghana. We are bringing a brandnew service to Accra, which will make convenience a few clicks away. At this time. when it is essential for us to stay at home where necessary, our service will be a great way to get all the things you need, without leaving your home or office. We are confident that Ghanaians will love Glovo. “This service will be a huge asset to business owners. In a city like Accra where traffic is a huge challenge, we have brought convenience and affordability to all residents. There is also a large segment of the population using apps to move around or order goods for delivery. Glovo provides a new opportunity to introduce a fresh new service with low prices and amazing user experience” Founded in 2015, the Spanish company is seeking to bring affordability, convenience and comfort to the world, with operations in over 20 countries and over 140 cities.
Invest in Africa appoints Carol Annang as Ghana Country Director
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nvest in Africa (IIA), a private sector-led initiative focused on growing local businesses in sub-Saharan Africa to deliver positive economic impacts and create jobs, has appointed Carol Annang as its Country Director in Ghana. Based in Accra, Carol will be working closely with strategic partners and the local IIA team to continue the company’s focus on supporting local businesses, strengthening brand equity, and attracting other strategic partners in priority sectors, including agriculture, manufacturing, extractives and ICT. She will also focus on delivering more youth and female led business interventions and building expertise in renewable energies and agriculture-based projects, “Having first launched IIA in Ghana in 2012, the country remains one of our most important markets,” said William Pollen, Invest in Africa’s Director. “IIA Ghana is focused on job creation and improving the business environment for both investors and local SMEs. Our priority is to increase the linkages between large international and domestic companies and smaller local business and enhance access to skills, markets and finance. “Carol’s appointment
reinforces the strength of IIA’s Ghana knowledge and expertise, demonstrated by the success of IIA’s Business Advisory and Support Programme in partnership with the Mastercard Foundation, and second consecutive year win of the CIMG Not-for-Profit of the Year Award. Her impressive background coupled with her deep understanding of the local business landscape makes her a fantastic addition to IIA as we seek to continue making a positive impact on local African economies. We are delighted to welcome her to the team.” Carol’s experience involves leading numerous financial and impact-focused businesses across Ghana. She sits on several boards including fintech startup Kudigo, the Ghana branch of the Duke of Edinburgh Awards and the Executive Leadership Academy (ExLA), a youth leadership training organisation working to shape the next generation of African leaders, with a focus on empowering young African women to take leadership and governance roles. In her previous role, she held the position of Managing Director of Secure Pensions Trust Limited, a pension trustee company. Commenting on her appointment, Carol Annang
said, “I was drawn to Invest in Africa because of the company’s clear dedication to improving the growth prospects of African businesses by leveraging its strong network. I’m looking
forward to working with the Ghana team in particular as it builds on its strengths of the last few years and continues to make a significant impact on the local economy.”
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Maritime, Trade & Logistics
WEDNESDAY MARCH 3, 2021
Tema Port gets new port security manager
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sending-off and handing over ceremony has been held at the Port of Tema for the outgoing Port Security Manager Colonel William Kwabiah who has now passed on the mantle to Colonel Emmanuel Nyante. Colonel William Kwabiah served the Ghana Ports and Harbours Authority for almost a year from the Ghana Armed Forces where he was Director of Intelligence Training at the General Headquarters. During his tenure, Col. Kwabiah was notable for instilling discipline among the various ranks, improvement of the intellectual capacity of security personnel and improvement of equipment and infrastructure. The Director of the Port of Tema, Sandra Opoku praised the outgoing Port Security Manager’s resilience and commitment towards his work while welcoming the incoming PSM. “Col. Kwabiah you have
excelled, you have been professional, and you have done your utmost best. In the maritime parlance, I wish you fair winds and following seas as you move into another phase of your life,” she added. The outgoing Port Security
Manager, expressed gratitude for the opportunity given him to serve at Ghana’s largest commercial port. “Working here has been a fantastic experience, and I am thankful for the knowledge acquired serving the good people
of the industry. I’m leaving here today with a wealth of knowledge which I will always treasure. Being here has made me a more complete and well rounded person,” he said.
Ibistek’s Atlantic Terminal to be commissioned by year-end— Ofori-Asiamah capacity lead the arrangements of
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he Minister Designate for Transport, Kwaku Ofori Asiamah has revealed that barring any unexpected circumstances, the Multipurpose Atlantic Terminal at the Port of Takoradi would be opened to cargo traffic by the end of 2021. “I can speak to the Glory of God that they have been able to secure the funding, and if it were not to be for the COVID-19, they would have opened for traffic by the middle of the year. But I am hoping that by the end of the year, the first berth should be able to open,” he revealed. The Transport Minister Designate, who was speaking during his turn of Ministerial vetting in Parliament said the -16m depth of the terminal’s berth would make the Port of Takoradi a preferred choice for major shipping lines globally. He said the President’s faith in IbisTek, the wholly Ghanaian company with the concession rights for the Atlantic Terminal is being paid off through the company’s ability to bring the world class infrastructure to being. “What is interesting about this project is that, the president insisted that we should let the indigenous people who have the
this project. Ibistek approached us and said they had already started something with TACOTEL, a container terminal in Takoradi,” he recounted. On the Keta Port project, the Minister Designate for Transport Kwaku Ofori Asiamah said feasibility studies conducted by international consultants will be completed on schedule and expressed hope that investors will be engaged for the development of the port infrastructure before the end of 2021 “I can assure you that, between April and May, we will do our market sounding about Keta Port for prospective investors. And I am hopeful that by end of the year we will start the engagement for the real construction of the Keta Port.” “If we do not take our time to do a proper work, the whole coastline will be disturbed. So I plead with Members of this House that, the stages we are going through is as important as putting up the infrastructure,” he added.
Minister Designate for Transport, Kwaku Ofori Asiamah, during his vetting at Parliament
Freighters to boycott ‘outrageous’ shipping line charges
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resident of the Ghana Institute of Freight Forwarders (GIFF), Mr. Eddie Akrong has vowed on behalf of freight forwarders and importers not to pay the excessive charges that have been slapped by shipping lines. According to the President of GIFF, Mr. Eddie Akrong, who was speaking on Eye on Port, many of the fees charged importers by the shipping lines are unjustifiable and outrageously high. “They are charging for unstuffing which they are not doing. They are even charging for ISPS charges and container returning fees which I do not understand,” Mr. Akrong bemoaned. He explained that the basis for
which the shipping lines have added on to their fees which has to do with the Ghana Ports and Harbours Authority increasing their Port charges to the shipping lines is untenable. Mr. Eddie Akrong thus said that it is unfair for the lines to pass on those charges when they do not offer those services. He said whereas the Port Authority has increased its tariffs to the shipping lines by a cumulative amount of USD 35, the shipping lines on the other hand have increased their charges by USD100 and in some cases more. According to the President of GIFF such unjustifiable charges have been going on for far too long and it is about time the Minister of Transport intervenes.
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Technology
WEDNESDAY MARCH 3, 2021
Samsung named no.1 Global TV manufacturer for 15 consecutive years
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amsung Electronics topped the global TV market for the 15th consecutive year, according to market research firm, Omdia. Newly released data published on February 23 notes that Samsung Electronics recorded 31.8% in global TV market share by revenue in Q4 2020 and retained the largest annual category market share by revenue in 2020, at 31.9%. New industry report affirms 15 years of industry-leading innovation, positioning Samsung at forefront of TV industry Samsung’s growth across the Visual Display Business reflects a commitment to the most premium at-home viewing experiences, coupled with the fast-growing QLED portfolio, category leadership in the ultra large screen segment over 75-inches, the introduction and expansion of a Lifestyle TV portfolio, and a series of industry, category and product “firsts” made possible thanks to Samsung’s constant drive for
innovation. “Consumers use screens every day to entertain, connect with loved ones, work, exercise from home and do much more. And we have seen how different lifestyles and routines have not only evolved, but converged,” said Lucas Lee, Managing Director at Samsung Ghana. “We continue to be incredibly humbled by the trust placed in our vision and products; it is what drives our relentless pursuit to deliver cutting-edge innovation and a best-in-class screen experience that meets the needs of the modern-day consumer.” Looking back over the last 15 years, Samsung’s innovation-led growth agenda has incorporated groundbreaking new technologies, while spanning multiple categories, reaching a wide range of consumers and use cases. In 2021, Samsung expects to maintain its industry-leading market position with the introduction and expansion of core products and by
incorporating proprietary technology and features across all TV lineups. This includes Samsung’s new Neo QLED lineup along with Samsung’s MICRO LED, Lifestyle TVs and a company-wide alignment of operations through long-term
‘Believe in the power of technology’
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umanity must agree on the benefits of technology – and then use it to uplift each other and achieve our development goals, says Huawei vice-president Catherine Chen. Technology holds significant benefits for humanity, and digital technology can be an indispensable tool for helping the United Nations achieve its Sustainable Development Goals (SDGs). This was the view of Huawei senior vice president and board member Catherine Chen, in her keynote speech at the recent Connected for Shared Prosperity Forum in Shanghai. Chen said technology could be an engine for human progress, and called on individuals and businesses to “think big and act small”, while reiterating her support of the SDGs and building a green, innovative and inclusive world. Chen said it was essential that people reach agreement around technology, which held significant potential for achieving development goals. “Large social changes tend to happen in lockstep with breakthroughs in science and technology. But today,
Catherine Chen, Huawei senior vice president and board member
technological advancements are hyped and politicised – as has sometimes been the case with 5G.” Chen pointed out that 5G was in fact a standardised technology defined by its high bandwidth, low latency, and broad connectivity, which could transform traditional industries and benefit all. “Every day, consumers are benefiting from 5G experiences, while industrial use in seaports, mines, and the transportation sector is increasing operational efficiency. Is this a bad thing? I don’t think so.”
Chen said that while there was always the danger that a new technology could be abused, rules could be established to manage technological risks. “Many people are already hard at work creating governance rules for cyber security, privacy protection, and trusted AI that will keep us safe. For the rest of us, it’s time to be confident and open to technological development.” Chen said technology was most effective when it created value for all, and that consensus could be built gradually so that technological advancement
sustainability programs. Over the next few years, Samsung will also continue to invest in R&D and product development in strategic business areas to strengthen its core and emerging technology offers.
could continue. “By focusing on the limited common understanding, we have right now and what resources are actually available, we can drive progress step by step,” she said. “Huawei has always supported technological advancement. We believe digital tech benefits humanity, and can help the UN achieve its SDGs.” Chen described how Huawei was already deploying digital solutions to empower people and meet UN development goals – especially the goals of innovation, reduced inequality and quality education. In South Africa, for instance, Huawei, non-profit organization Click Foundation and network provider rain teamed up to connect more than 100 urban and rural primary schools to the Internet. The goal is to boost reading comprehension skills and close the digital gap through technology. In Kenya, Huawei partnered to build Digitrucks, mobile, solar-powered classrooms that bring digital skills to remote, underserved communities. Equipped with 20 laptops, 20 VR headsets, and built in Wi-Fi, each DigiTruck is a temporary digital school that provides free classes, resources, and materials.
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Feature
WEDNESDAY MARCH 3, 2021
We had to do it for the boys too!
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hen the collaborative effort of another charity organisation provided the girls of Dodowa Presby Basic School with toilet facilities in response to a request for assistance so as to enable and encourage girl children to go to school, especially during their menstrual periods, the boys felt left out. Rotary International came to the rescue and provided similar facilities for the boys as part of a project in the district. Rotary International (RI) in partnership with the USAID aims at supporting lasting, positive change to Water, Sanitation, and Hygiene (WASH) initiatives in Ghana through the implementation of the 5-year RIUSAID Water & Sanitation Project. This is a unique public-private partnership in which Rotary volunteers work with USAID and governmental agencies as monitors, facilitators, mentors, advocates and also as instructors in communities, schools and clinics. The overall goal of the project is to accelerate sustainable improvement in water and sanitation access and improve hygiene behaviours in some targeted communities 14 districts in 7 regions – GAR, Eastern, Western, Oti, Central, Northern
Rotary Club of Accra – Ring Road Central provide pupils of Dodowa Presby Basic School with toilet facilities.
and Savannah. So, with the money left from the water project in the area under this programme, the Rotary club of Accra – Ring Road Central and RI/USAID team decided to put up an eight-seater biofil toilet facility for the boys in the school. The BiofilTM Standalone is an allin-one unit that offers an onsite water closet and digester. The biofilm digester is a simple compact on-site organic waste treatment system that uniquely combines the benefits of the flush
toilet system and those of the composting toilets and eliminates the disadvantages and drawbacks of both systems. With the option of a micro flush seat, the user simply presses a foot pedal to release the waste into a digester housed directly beneath the seat. The unit utilizes the water from each hand washing (as little as 500ml) to flush the toilet for the next user. This unit is ideal for areas with no or limited access to water. The Director for Education
in the district, Mrs Elizabeth Awoonor-Williams, in her welcome note, was pleased with determination and efforts of RIUSAID in providing water and sanitation project in the area and in the school and offered her continuous support throughout the project. In her address, the Rotarian President Roma Puni expressed her satisfaction of being able to provide such purposeful facility for the school especially in these times when sanitation and hygiene was extremely important. She emphasised the need for the facility to be maintained properly by both the pupils and the school authority. This was what Rotary aimed to achieve at all times. This way, the well-being and subsequently the education of the pupils will be improved. With the assistance of the Director of Education, Rotary club of Accra – Ring Road Central formally handed the eight-seater biofil toilet facility to the school authorities at Dodowa Presby Basic School. We strongly believe this facility for the pupils will serve the entire school well, enhancing education and general well-being of the students.
Mechanical Lloyd to delist from stock market in April By Joshua Worlasi Amlanu macjosh1922@gmail.com
M
echanical Lloyd Plc, the automobile firm, is scheduled to delist from the Ghana Stock Exchange (GSE) next month following a special resolution by shareholders during its last annual general meeting. The delisting, the company says, is in line with its strategy to review its business model and structures to re-position it for the future. Consequently, the company has made an offer to qualifying shareholders to purchase all their outstanding 16,900,487 ordinary shares at GH¢0.10 per share. Mechanical Lloyd has indicated that the de-listing will not impact job security, day-today operations and relationships with stakeholders. The delisting will reduce the number of companies listed on the bourse to 30 and increase the number of delistings from
the GSE, both voluntary and enforced, to seven in the last three years. Some market analysts have
said the continuous de-listing of companies affects the interest and sentiments of investors towards the equities market.
Mechanical Lloyd has a total of 50.1m shares issued on the bourse, with a total market capitalisation of GH¢4.51m.
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