Business24 NewsPaper March 13 2020 by Business24 Online

EDITION B24 | 17

FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM

Recalcitrant fishing vessels to lose licences

I M PA C T O F C O R O N AV I R U S :

Air ticket sales drop by 10-15%

By Benson Afful

Elizabeth Afoley Quaye

By Dominick Andoh

The load factor-the proportion of airline seats that are filled-of major international airlines servicing the Kotoka International Airport (KIA) has dipped by between 10-15 percent since the end of February, following travel restrictions announced by some states and passenger apprehension about the spread of

the coronavirus in Europe, the Middle East, and the Far East. Regional airlines operating flights between Accra and other destinations in West Africa also confirmed between a 10-12 percent drop in passenger numbers to Business24. Dick van Nieuwenhuyzen, Air France-KLM Country Manager, confirmed the industry-wide drop in load factor and a 10 per-

cent drop in forward booking for April and May to Business24. “Yes, there has been about 1015 percent drop in load. A lot of Business Class passengers are not travelling anymore, or postponing their trip or cancelling the trip. If they cancel, I don’t expect they will rebook later. If someone is going on holiday, they will postpone and travel later in the year, but with Business

The Fisheries Commission, regulator of fishing activities in the country, has issued a stern warning to debtors who have refused to pay fines imposed on them, warning they risk not having their fishing licences renewed. The board chairman of the commission, Emmanuel Mantey Mensah, speaking to Business24, said since it is the commission that issues licences every quarter to individuals and companies for fishing, it will refuse to give anyone who owes the commission a licence to operate henceforth. The caution comes in the wake of the Environmental Justice Foundation (EJF) reporting that a Ghana-based vessel with Chinese

Class passengers they may be going for a meeting, and if the meeting is cancelled you don’t go again,” he said. Senior Africa World Airlines (AWA) officials also confirmed that the number of passengers on their Accra-Lagos flights has reduced by about 10 percent, brought on by passenger fears due to the geographical spread of

MORE ON PAGE 13

PAGE 20

*EXCHANGE RATE (INT. RATE) EXCHANGE RATE (BANK RATE) *POLICY RATE

released to Business24. It cautioned, however, that Ghana’s public debt burden (and public arrears in the local sector) requires considerable fiscal consolidation to correct. Rand Merchant Bank’s ninth edition of Where to Invest in Africa returned to its roots, MORE ON PAGE 2

INTERNATIONAL MARKET

USD$1 =GH¢5.4651

BRENT CRUDE $/BARREL

USD$1 =GH¢5.5000*

NATURAL GAS $/MILLION BTUS

16%*

GOLD $/TROY OUNCE

GHANA REFERENCE RATE

16.11%

CORN $/BUSHEL

*INFLATION RATE

7.8%*

COCOA $/METRIC TON

PRODUCER PRICE INFLATION:

13.3%

COFFEE ¢/POUND:

91 DAY TREASURY BILL INTEREST RATE

14.6898%

SUGAR ¢/POUND

Business24 Limited , Tel: +233 030 296 5297 / 024 337 6878 Advertise: 024 429 9168 Subscribe for ePaper : thebusiness24online.com/subscribe

+1.00 ($52.90) +0.02 ($1.77) +4.90 ($1,599.70) +1.25 ($376.75) +11.00 ($2,661.00) +4.25 ($115.60) -0.33 ($13.81

BUSINESS24 | FRIDAY MARCH 13, 2020

| THEBUSINESS24ONLINE.COM

News/Editorial Editorial: Let’s protect our fishes!

@business24ghana

Recalcitrant fishing vessels to lose licences continued from page 1 ownership is back fishing without having paid a record US$1 million (€0.9 million) fine levied by the state for illegal fishing in the country’s waters. The vessel, Lu Rong Yuan Yu 956 (AF 756), was arrested for illegal fishing in Ghana’s waters in June 2019. It is owned by locally-registered company Gyinam Fisheries Limited, which has failed to pay the penalty since it was issued. Gyinam is a subsidiary of China-based Rongcheng Ocean Fishery Co. Ltd. While the case regarding the non-payment of the fine is set to go back to court in the coming months, under local law, the vessel is not entitled to be reissued with a licence to fish, either in Ghana or elsewhere. According to the EJF, Ghana’s fisheries laws require the commission to withhold licensing of vessels that have engaged in illegal fishing. However, the environmental campaign group said the vessel can be observed on automatic identification system (AIS) maps from December to February operating in the waters of Ghana and the Ivory Coast. When asked what the commission is doing about companies that have refused to pay their fines, Mr. Mensah said: “Those who are owing us will pay because we issued their licences to go to sea; therefore, if they owe us, we will not give them a licence to fish. They have understood that. You don’t owe us and refuse to come into any arrangement with us on how to settle your debt and expect us to continue giving you a licence.” Ghana’s 2002 Fisheries Act provides that the Council of the Fisheries Commission shall not recommend the renewal of a fishing licence unless it is satisfied that “there has not been a failure to satisfy a judgment or any other determination for a contravention of this Act.” Furthermore, the 2015 Fisheries Amendment Regulations provide that the commission shall not grant an authorization for a vessel to fish outside of Ghanaian waters where “the commission has reason to believe that the fishing vessel has engaged in illegal, unreported and unregulated (IUU) fishing.”

The country’s fishing stock is fast depleting and experts have warned that if the government fails to take measures to stop the trend of illegal fishing, the sector is bound to collapse in the next 15 years. Many fishers have resorted to illegal means to catch the fishes on our sea thereby putting the sector which provides livelihood to fishing communities along the country’s coast at risk. It is against this backdrop that the Business24 supports the directive by the Fisheries Commission not to renew licence of debtors who have refused to pay fines imposed on them, warning they risk not having

their fishing licences renewed. The caution comes in the wake of the Environmental Justice Foundation (EJF) reporting that a Ghana-based vessel with Chinese ownership is back fishing without having paid a record US$1 million (€0.9 million) fine levied by the state for illegal fishing in the country’s waters. The vessel, Lu Rong Yuan Yu 956 (AF 756), was arrested for illegal fishing in Ghana’s waters in June 2019. It is owned by locally-registered company Gyinam Fisheries Limited, which has failed to pay the penalty since it was issued. Gyinam is a subsidiary of China-based Rongcheng Ocean Fishery Co. Ltd. The Business24 therefore urge government to be strict in imposing

sanctions to any individual, group or company that flouts the country’s fishing law, and ensure that vessels which are fined by the State pay the amount in full to serve as a deterrent to others Ghana’s fisheries laws require the Fisheries Commission to withhold licensing of vessels that have engaged in illegal fishing. However, the environmental campaign group said the Chinese vessel which was fined by the State can be observed on automatic identification system (AIS) maps from December to February operating in the waters of Ghana and the Ivory Coast. Ghana’s 2002 Fisheries Act provides that the Council of the Fisheries Commission shall not recommend the renewal of a fishing

licence unless it is satisfied that “there has not been a failure to satisfy a judgment or any other determination for a contravention of this Act.” Furthermore, the 2015 Fisheries Amendment Regulations provide that the commission shall not grant an authorization for a vessel to fish outside of Ghanaian waters where “the commission has reason to believe that the fishing vessel has engaged in illegal, unreported and unregulated (IUU) fishing.” So, the paper entreats the State and its relevant institutions to as a matter of urgency act on this to ensure that individuals, especially foreigners do not flout the laws of the country for their own gains.

Ghana’s mining sector worth US$5.9bn—RMB Report continued from page 1

focusing on the sectors it believed were key to unlocking the continent’s growth potential. Co-authors Celeste Fauconnier, Neville Mandimika and Nema Ramkhelawan-Bhana delved deeper into the traditional and alternative sectors driving African economies to reach everhigher levels of economic growth. Ghana’s manufacturing sector is ranked the eighth strongest on the continent and is characterised by its small market size but high competitiveness. While the retail sector is predominantly still informal—there are some major malls, particularly in Accra—the report predicts that the retail market in the capital city is close to saturation, and new developments will be opening in a challenging economic environment.

Neville Mandimika- Research Analyst, Global Markets, RMB

On the whole, Ghana edged closer to a coveted top-five position this year, rising three places to number six in RMB’s Investment Attractiveness rankings. “The country’s growth outlook is strong and concentrated around the oil and gas sector.

Non-oil growth is forecast to pick up again, supported by probusiness reforms and a steady improvement in power supply. Political stability will remain underpinned by Ghana’s strong democratic credentials,” the report noted. According to Fauconnier and

contributor Chris Mabanga, manufacturing is set to take centre stage as the continent, with its advantage of an abundance of natural resources, is focusing on turning its raw materials into manufactured goods to boost exports and reduce reliance on imports. On the topic of finance, Ramkhelawan-Bhana stressed that “financial services play a critical role in securing Africa’s future.” “Without sustainable funding and commercial credit, project development in key areas such as infrastructure, healthcare, and energy remain concepts rather than reality. The ICT sector and internet access, in particular, long viewed as a luxury in Africa, are fast becoming crucial to inclusive economies,” she added. Contributor Daniel Kavishe added that under the resources banner, “mining, energy and agriculture all offer vast opportunities for the savvy investor.”

Air ticket sales drop by 10-15% continued from page 1 the coronavirus. Fortunately, domestic flights have not been affected, and AWA has plans to increase the frequency on some routes. Airlines and Travel & Tour operators in Ghana have had to suspend various marketing activities and freeze employment temporarily. For tour operators who don’t have enough reserves to fall on, they may go out of business if the problem persists. The drop in passenger numbers is compounded by government’s recent ban on all official trips abroad, a

move criticised by the aviation and travel industry as sending the wrong signal in a country not affected by the disease. Dick van Nieuwenhuyzen believes that people should be able to travel freely to areas where the disease is non-existent. The downturn in the industry is expected to significantly affect the expected revenue of the airports operator, GACL, and its ability to service loans secured for major on-ground projects such as the renowned Terminal 3 of the Kotoka International Airport. Based on the International Air Transport Association’s (IATA) projections, the current drop in load factor will continue for the

Editorial: LIMITED To advertise or make enquiries info@thebsuiness24online.com Tel: +233 030 296 5297 / 030 296 5315. Subscribe: thebusiness24online/subscribe Copyright @ 2019 Business24 Limited. All Rights Reserved.

Dominic Andoh: Editor Eugene Kwabena Davis: Head of Parliamentary Business & Commodities Benson Afful : Head of Energy & Education Patrick Paintsil : Head of Maritime & Banking Eliezer Mensah: Head of Production Marketing: Alexander Lartey Agyemang: Business Development Manager Ruth Fosua Tetteh: Deputy Business Development Manager

next three months before loads recover to pre-coronavirus levels. IATA estimates, under two potential scenarios—partial containment and widespread community transmission—that passenger revenue losses will be between US$63 billion and US$113 billion in 2020. Gifty Mensah: Marketing Manager Irene Mottey: Sales Manager Edna Eyram Swatson: Special Projects Manager Events: Evelyn Kanyoke Snr. Events Consultant Finance/Administration Joseph Ackon Bissue: Accountant Ampomah Akoto: Director of Operations

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

NEWS

Gov’t, Barbados partner to develop cruise terminal By Patrick Paintsil

Ghana and Barbados have taken a further step in their ambitions to grow bilateral cooperation between the two countries and for Ghana to tap into the multi-million dollar cruise industry. The recent demonstration of this ambition was experienced, when a team from the Barbadian Ministry of Tourism and International Transport and the Ghana Tourism Authority paid a courtesy call to the Management of the Ghana Ports and Harbours Authority. According to Dr. Kerry Hall, the Director of Tourism Development of the Ministry of Tourism and International Transport, Barbados, his country has gained expertise in cruise tourism, and should Ghana develop a cruise industry, the country stands to benefit tremendously. The Cruise Lines International Association (CLIA), the world’s largest cruise industry trade association, in its latest report predicts that “Generation Z is set to become the largest consumer generation this year—outpacing even Millennials. This generation like the one before, prefers

experiences over material items and is seeking out travel. The appeal of multiple destinations and unique experiences, such as music festivals at sea, is attracting this new category of cruisers.” The CLIA estimate that 30 million passengers cruised in 2019, up from 28.2million people in 2018. Over US$ 1,108,676 jobs (full time equivalent employees), and US$45.6 billion was generated in wages and salaries by the cruise industry last year. This shows the inherent opportunities in the cruise sector of the tourism market. Dr. Hall noted that: “It is about product, and it is about offering a visitor to your country a menu of options and things to do and experiences. You would want to have your ground transportation people organise and take people to a few options where they can do their tourism and have a useful and productive experience of what Ghana has to offer.” He revealed that in addition, his Prime Minister envisages a very lucrative venture in exploring the West African coast in cruise plans in the future so

the concept of having a cruise terminal in Ghana will serve that purpose. “My Prime Minister has in mind how best between Ghana and Barbados or perhaps the West Coast of Africa can be able to explore new routes. I suspect that would be a sell-out in the Eastern Caribbean,” he disclosed. The Chief Executive Officer

(CEO) of Ghana Tourism Authority, Akwasi Agyeman, disclosed that it is the government of Ghana’s intention to not only deepen tourism but trade as well, and recognises the Ghana Ports and Harbours Authority as instrumental in facilitating this process. “We are looking at ways that we can get Ghanaian manufacturers and small-scale business-

es to partake in BMEX, which is the biggest Manufacturing Expo in Barbados. And so, hopefully working with you, we could fasttrack some of the things that would be done,” he indicated. The Director General of Ghana Ports and Harbours Authority, Michael Luguje, said Ghana is among the viable countries poised to do well in the cruise industry so he welcomed the initiative. “The potential for new routes is there for our region and it is important that we work together to open those,” he opined. He added that the Ports and Harbours Authority of Ghana will visit the Port Authority of Barbados to cooperate in areas of capacity building, among others. “We will very soon be talking to the Port Authority of your country to get a delegation that would visit for us to begin to discuss and look at what is going on there and during that visit, we will get the opportunity to interact with the port and tourism industry and see what kind of support and collaboration we can get for capacity building for knowledge sharing and the rest.”

Government announces US$ 6.3 billion towards reducing carbon emissions By Kwasi Anku

Government has announced a commitment to the tune of US$ 6.3 billion for the implementation of programmes aimed at reducing the country’s carbon emissions by 15 percent within the next 10 years. Government, working with key stakeholders and partners,has also identified seven priority areas to undertake various climate interventions including food, agriculture, energy, forestry, waste, infrastructure and disaster risk reduction. Mr. George Oduro, a Deputy Minister of Agriculture said this at the inauguration of the Ghana Federation of Forest and Farm Producers (GhaFFaP), a national federation of Forest and Farm Producer Organizations in Accra. The event was on the theme: “Building Inclusive Communities, Climate Resilience and Poverty Alleviation.” The organization, whose membership is drawn from three ecological zones of Ghana –the Savannah, Transition and Forest ecological zones-- is to promote the interest of forest and farm producers in Ghana. The evolution of GhaFFaP has been influenced by the desire of members to maximize their strength in numbers towards building strong and profitable forest and farm based businesses. It is also to shape national policies for sustainable development and promote climate resilience landscapes across the three ecological zones. The national federation will serve as a platform for advocating conducive forest and farm policies and laws in the country, coordinate the establishment of partnerships with government, private sector and civil society organisations for the benefit of forest and farm producers and promote participation in national development.

It will improve entrepreneurial and business capacities of members and provide business incubation services to forest and farm producers in Ghana and to promote sustainable environmental management and climate resilient practices and landscape restoration. “Our understanding of the environment and its problems and our collective role as citizens in ensuring that the environment as a resource is valued and respected should be a priority for all,” Mr. George Oduro said. It is estimated that up to 90 per cent of farms worldwide are owned by an estimated 1.5 bil-

lion smallholders on farms covering one to ten hectares. It is obvious that these smallholder farmers constitute a critical mass and all efforts must be made towards getting them organised to effectively contribute to rural and national economies. Mr. Oduro said his ministry would like see an enhanced participation of women and youth in the management of environmental resources and the reduction of environmental risks to communities. Mr. Oduro commended the leadership of GhaFFaP and Food and Agriculture Organisation

for teaming up to help Ghana protect its forests as it empowers local farmers economically. “Great success stories can be harvested in the area of Farm and Forest if we collaborate with Civil Society Organisations and development partners,” he said. He said government continues to prioritise and promote initiatives that were aimed at addressing the effects of climate change and building more resilient landscapes in communities. He said the Ministry was delighted to learn that GhaFFaP would be prioritising the active participation of women and

youth through the GhaFFaP Women’s Champions Wing. He said Government would continue to work with GhaFFaP to ensure that they achieve the President’s vision for the forest and farm sector. Mr. Oduro further expressed the hope that the federation would grow to become an important voice in the promotion of smallholder forest and farm producers in Ghana and a pillar for poverty alleviation. He reiterated government’s continued support for initiatives such as GhaFFaP as ‘we recognise grassroots mobilisation as a key factor to sustainable and more inclusive.’ development interventions. Ms. Sylvia Lopez-Ekra, UN Resident Coordinator, said the UN General Assembly has officially adopted the Decade of Family Farming (2019-2028), which would contribute to the achievement of the 2030 Agenda of Sustainable Development and SDGs. She said the UN was poised to support Forest and Farm producer organisations through its different agent to take a prominent role in strengthening rural development, resilient building, livelihood development and promoting collaboration and partnership among them. She said producer organisations were at the heart of much of the United Nations work across the various UN agencies. She said by building their skills, strengthening their network, helping improve their governance and advocacy strategies and focusing on expanding their inclusivity, GhaFFaP and other analogue bodies could empower their local communities. “We will together build synergies, complementarities across the spectrum of different stakeholders and partners, while leveraging on strengths of similar initiatives and drawing on the lessons learnt from past attempts,” she added.

| THEBUSINESS24ONLINE.COM

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

F E ATU R E

Geodrill Wants More Women in Mining, Exploration

Traditionally, mining has always been considered a male-dominated field. The Global Mining Standards and Guidelines Group (2014) says 5 to 10 percent of people working in mining are women. At the director level, it is seven percent; the lowest of any major industry. This is consistent on a country level in most mining regions. For example, in 2014, of the 10,949 members of the Ghana Chamber of Mines, there were only 659 women; thus about six percent of the total membership. In sub-Saharan Africa where South Africa and Ghana are leaders in the mining industry, there have been many calls to improve these disappointing figures. An article published by Review of African Political Economy (ROAPE) in 2016 says, South Africa, a country known for world class mining, women constitute 11 percent of the workforce in the mining industry even after more than 20 years of democracy. In Ghana, for instance, women comprise 15 percent of the legal and 50 percent of the illegal artisanal mining workforce. The case is not as encouraging in the well-established large scale mining firms. Be that as it may, as the world observed the International Women’s Day last Sunday, March 8, 2020 Geodrill Ghana, a leading exploration drilling company in the West African sub-region strengthens its resolve to invest more towards increasing women involvement in mining. This they hope will create a good case for many other companies in the mining industry to emulate. What Geodrill Is Doing Geodrill, which was established in 1998 with one rig in Ghana, now has 67 rigs across Africa. The Head of Human Resources, Iddi Baah-Kurey revealed that per the firm’s model, they do not look for ready-made skills in the job market. Instead “Geodrill prides itself in hiring

people with minimal or zero skills and then put the individual through mentorship and on the job training. The model helps them to make a conscious effort towards attracting women into the mining industry, an area which is traditionally a male dominated field. Another strategy to increase employment of females is; reserving specific roles in key departments for women. This has seen the recruitment of women into the Finance, Health and Safety, Stores and Warehouse, Human Resources and Maintenance Planning Units. Recruitment from University To further improve and sustain women participation, Geodrill also selects candidates freshly from the university through an aptitude test. The final candidates, particularly those selected for positions reserved for women only, are trained over time to become well equipped and globally competitive. The training and gender sensitive support provided by Geodrill has proven successful with high retention rate. It has also increased the company’s female employee from just handful in 2015 when the staff strength was about 600 to 65 females out of 900 employees across the group. The Ghana operations leads with 44 females out of the 65. More Women Shy Away from Technical Roles Iddi Baah-Kurey indicated despite these interventions it is unfortunate that not many women are interested in the technical roles as they are in the other roles. He recounted that a couple of years ago, Geodrill conducted an aptitude test for graduating students of the University of Mines and Technology (UMaT) in Tarkwa, with the hope of recruiting 15 gender-balanced graduates from the drilling class. Try as they may, only two women made the final list. Despite the persuasion applied and benefits, the two women were unwilling to work on the drill rigs.

“Today, some of those who joined Geodrill from that year group have been trained to become deep directional drillers, engaged in world class drilling for our clients who are scattered in all our operational countries; Ghana, Burkina Faso, Cote d’Ivoire, Niger, Guinea, Togo and Mali. The company is now entering the African Copper belt. Had the two women joined Geodrill they might be multipurpose or directional drillers today, Iddi Baah-Kurey recounted. He stressed that “as a world class drilling company, I am looking for to the day when we will have our first Ghanaian Female Driller in Geodrill”. Success Story Nonetheless there have been a lot of success in the other departments which are also male dominated. The Health and Safety Co-ordinator for Ghana operations, Bernice Adzo Gbadam is an example. Having worked at Geodrill since 2014 Adzo Gbadam is the

first full time female employee to work at the main workshop covering all Ghana drill sites. She admits that despite the rewarding nature of the role, “my male colleagues initially struggled accepting a female HSE officer.” She commended top management for their role in transforming the company’s culture which now makes her respected in her position by all. She was excited about her experience which has seen her work on projects in Ghana and Cote d’Ivoire alongside her male counterparts. She described her experience saying “it is as good as gold.” Geodrill Welcomes More Women Into Mining Using herself as an example, Adzo Gbadam who is in charge of Health and Safety stressed that “We would really like to assure women that they can do this work, because Geodrill provides all the necessary training on the job. Something I bene-

fited from to become who I am today.” Iddi Baah-Kurey, Head of Human Resources urged women to consider drilling as it is safe; saying, “We work in conjunction with Mine Site Health and Safety teams to ensure the safety of all, including our female workforce.” He noted that since the Health and Safety Coordinator for the firm’s Ghana operations was a woman; It goes without saying that she is in the best position to device Health and Safety practices to prevent harm and injuries to staff (Both men and women) at the work place. Baah-Kurey acknowledged that although women some years back showed little interest in mining firms in general, the situation has improved. “Geodrill Ghana, West Africa’s leading exploration drilling company only wishes we had more women candidates applying for technical roles just as they do for other roles.”

BUSINESS24 | FRIDAY MARCH 13, 2020

| THEBUSINESS24ONLINE.COM

F E AT U R E

COVID-19 Is an Opportunity for Europe

By Lucrezia Reichlin For years, fears have been mounting that a “black swan” would test the European Union’s crisis-management capabilities. With the outbreak of the COVID-19 coronavirus, those fears have come to pass – and it is not at all clear that the EU will be able to withstand it. The COVID-19 epidemic is not just any stress test. For starters, it is likely to affect the entire world, leading to a synchronized growth slowdown or even recession. Synchronized recessions are virtually always deeper and longer-lasting than downturns affecting individual economies, and they hit open economies like the EU particularly hard. Compounding the problem, because every EU member state is facing a severe shock, they will be far less able to help one another than they were during the eurozone crisis that began in 2010. To be sure, Italy has suffered the most so far. But past transmission patterns elsewhere suggest that COVID-19 will continue to spread across Europe, putting every country under growing strain. Of course, it is impossible to say precisely how the epidemic will unfold. But that uncertainty will only exacerbate the economic fallout, because it will undermine investment and household consumption. Already, the virus has disrupted supply chains and slowed global trade, with predictably negative

effects on corporate revenues and employment. The tourism and transport sectors have been hit particularly hard, owing not only to government-mandated travel restrictions, but also to voluntary “social distancing” and reductions in movement. As a result, overall demand is already declining, reflected in plummeting oil prices – typically a harbinger of global recession. To be sure, the consequences of a negative shock like COVID-19, however painful, could be shortlived. But while China seems to have brought new infections under control, the number of cases continues to rise elsewhere. Unless this changes soon, the economic effects are unlikely to be temporary. A more probable scenario is that the COVID-19 shock will test the resilience of publichealth systems, labor relations, and formal and informal solidarity mechanisms across the EU. And if the pandemic is not confronted with an aggressive and timely policy response, its effects are likely to be long-lasting, especially if amplification mechanisms are activated. Such mechanisms typically work through the financial sector. The good news is that, thanks to improved regulation, banks are better capitalized than they were in 2008, when the last global financial crisis erupted. But some countries still have serious weaknesses, and the resilience of small and medium-size enterprises (SMEs) remains dubious. In the

manufacturing sector, SMEs are already suffering. In the event of a protracted crisis, the damage to them will end up on banks’ balance sheets. In the EU, the capacity to mount an effective response and withstand unavoidable damage (including from the overall decline in demand) varies across member states. But, even in relatively well-equipped countries, unilateral, ad hoc measures have only limited potential. Coordinated action – especially on the fiscal front – would be far more effective. This does not mean simply allowing member states to run larger fiscal deficits. Though this would help – not least by improving the relationship between the EU and its citizens – it would affect some countries’ risk premia (as the Italian case shows). We learned a decade ago that this could threaten the eurozone’s very survival and exacerbate the crisis by leading to financial segmentation. Monetary policy can help in different ways – namely by providing liquidity where needed. For example, policymakers could implement targeted operations conditional on banks lending to SMEs. More broadly, central banks need to use all available tools to offset downward pressure on inflation expectations from the fall in oil prices. But what the EU really needs is a coordinated fiscal stimulus that takes advantage of its jointfinancing power. Yet, at present, it has no instrument in place to

support member countries amid large common shocks. The European Stability Mechanism could be activated in an extreme scenario, but using it as a demand-management tool would be inappropriate. And the EU Solidarity Fund is too small for the job. The COVID-19 pandemic thus represents an opportunity for the EU to create a powerful crisismanagement mechanism, which pools member states’ resources and channels them toward a coordinated fiscal policy. The idea of such an “insurance fund” is not new: several economists championed the idea after the last crisis, when discussion of governance reform was in full swing. The EU has tended to make the most progress in bad times. And, as the millions of people currently on lockdown in Italy can attest, the COVID-19 outbreak is a very bad time. Now is the moment for the EU to take swift coordinated action and capitalize on the momentum to build the institutions it needs to facilitate even more effective action next time. The current geopolitical context should reinforce Europe’s motivation to bolster its crisismanagement capacity. In 2008, international cooperation predominated, and the United States was a reliable partner to Europe.

When European banks desperately needed US dollars, currency swap lines were quickly established to safeguard financial stability. Today, by contrast, isolationism is on the rise, with the US taking the lead. The US Federal Reserve consulted no one before implementing its recent emergency interest-rate cut. One shudders to think what would happen if European banks urgently needed dollar funding in this context. COVID-19 should serve as a powerful warning to governments worldwide. The combination of environmental degradation and deep economic interconnection has made the world more vulnerable than ever to sudden, large-scale shocks. The EU owes it to its citizens to ensure that it can respond.

Lucrezia Reichlin, a former director of research at the European Central Bank, is Professor of Economics at the London Business School. Copyright: Project Syndicate, 2020. www.project-syndicate.org

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

BUSINESS24 | FRIDAY MARCH 13, 2020

| THEBUSINESS24ONLINE.COM

F E AT U R E

Clean energy is also resilient energy By Jules Kortenhorst , Whitney Heastie After years of increasingly severe hurricane seasons in which island countries and territories in the Caribbean have lost power for weeks and even months at a time, the need for climate resilience could not be clearer. And as the Bahamas is showing, the cleanest energy sources can also be the most resilient. The Caribbean and its surroundings are on the front lines of climate change. The Bahamas, the archipelago that stretches over the crystal-blue waters between Florida and Cuba, have been battered in recent years by devastating hurricanes, which have increased in severity and frequency as a result of global warming. As is the case worldwide, there is an element of injustice to this. Given that the Bahamas and Caribbean countries emit relatively minuscule amounts of carbon dioxide, their residents bear very little of the blame for the climate crisis. But the people of the region are now flipping the script, transforming themselves from victims of climate tragedies into global leaders in clean, secure energy. The Caribbean countries have compelling economic

reasons for embracing the green-energy transition. For generations, they have relied on imported fossil fuels to power their economies, which means they have long had to deal with the uncertainties of world oil markets and thus significant cost fluctuations for electricity. Thanks to advances in renewable energies, that economic challenge has created an opportunity. Unlike imported fossil fuels, which are subject to rising costs, the prices of solar power and other clean energy sources, along with the necessary battery storage systems, continue to fall. As these technologies have become more affordable and competitive with older, dirtier fuels, they have created a powerful incentive for island countries to move away from conventional fossil fuel-fired power plants. Moreover, this trend will only grow more pronounced from here on out, as the cost advantages of newer, cleaner energies make them increasingly attractive relative to fossil fuels. For regions like the Caribbean, solar and battery storage systems do more than simply reduce the costs of electricity; when deployed in the right way, they also improve climate resilience. As the Bahamas and other countries across the region have demonstrated over the past few years, solar- and

battery-powered microgrids can provide critical services for island communities during and after severe weather events that otherwise would knock traditional energy sources offline. But in order for these new energy solutions to provide real resilience, they themselves need to be able to withstand the storms, which tend to ravage power lines and disconnect communities from centralized sources of energy generation. Thus, in the case of solar, much depends on the methods used to secure solar panels to the ground and to rooftops. We already know that it is possible to construct photovoltaic (PV) systems capable of surviving even the most severe category of hurricane. Through a collaboration between the Rocky Mountain Institute, the government of the Bahamas, and the country’s national utility, the Bahamas Power and Light Company (BPL), we have developed and installed a solar parking canopy at the National Stadium in Nassau that can withstand the winds of a category-five hurricane. We have also built the country’s first category-five resilient solar and battery storage microgrid on Ragged Island, and are now focusing on designing and delivering sustainable and resilient microgrids for critical

facilities on Abaco, following the destruction wrought by Hurricane Dorian in September 2019. As the planet continues to warm, increased moisture in the air will translate into even more severe and frequent tropical storms and hurricanes. What we saw with Dorian and Hurricane Maria in Puerto Rico in 2017 is likely to become commonplace. Fortunately, as the partnership in the Bahamas shows, many of the same measures needed to build resilience are also those needed to limit greenhousegas (GHG) emissions and slow the pace of global warming. Far from requiring a tradeoff, resilient PV systems check both boxes. The Caribbean and Atlantic are hardly the only regions that will need to build more resilient energy infrastructure to prevent power disruptions. Communities around the world are increasingly confronting the challenges posed by severe and extreme weather, including the devastating fires in Australia, Indonesia, and the Western United States. In all of these cases, clean, localized energy solutions offer unique advantages in terms of reducing emissions and keeping the lights on after a disaster. They point the way to a better future for our electricity system. By embracing the clean-energy transition, the

Bahamas is setting an example for the rest of the world – and particularly for those countries that are responsible for the overwhelming share of global GHG emissions.

By Jules Kortenhorst

By Whitney Heastie

Jules Kortenhorst is CEO of the Rocky Mountain Institute and Whitney Heastie is CEO of Bahamas Power and Light” Copyright Project Syndicate 2020.

Outbreak of Coronavirus - a threat to Cybersecurity Seth Frimpong-Manso The global outbreak of Coronavirus has caused a stir in the world. It is now a topical issue of every discussion on television, radio and print media. According to the World Health Organization (WHO), the virus, code-named COVID-19, has so far affected 93,166 persons in 77 countries with a death toll of 3,199 as at 17:00 GMT Wednesday, March 4, 2020. The anxiety and panic over coronavirus outbreak The nature of the disease and the mystery of its spread has caused so much panic and anxiety over the mode of its infection, especially when WHO declared the outbreak a public health emergency. WHO’s declaration increased the global perspective of the disease and equally created greater panic and anxiety, making anything that purports to relate to coronavirus a source of attention. People are eagerly seeking an in-depth information mostly through digital means to protect themselves and avoid travelling to places affected with the disease. While a search is ongoing to find a vaccine or a cure, cybercriminals are taking advantage of people’s anxiety and fear to sell non-existing products, disseminate unsubstantiated claims and fake news and in the process steal valuable confidential data. There have been claims from multiple sources purporting to suggest that, certain anti-malaria medications have curative tendencies for treating COVID-19. Therefore, every online information with a

caption “coronavirus” tends to attract fast attention of internet users and browsers. The word “coronavirus” is perhaps one of the most searched words on the internet today, and the reason is clear. How cybercriminals take advantage of coronavirus panic The despair and anxiety exhibited by people in the face of seeking for coronavirus information exposes inherent vulnerabilities that make humans easy targets of cybercrime. Cybercriminals are therefore taking advantage of the human fear and uncertainty surrounding the global health emergency to launch cyberattacks. As the world continue to fight to eradicate this contagious disease, cybercriminals are also busily exploiting people’s desperation for information as a potential for cyber-attack using various methods to distribute malicious software which will aid them in accessing unauthorized and steal confidential data, disrupting digital operations and making illicit ransom money from victims. Mode of operation by Cyber-

criminals One of the methods commonly used by these cybercriminals is “social engineering”. Social engineering is the art of exploiting human weaknesses to cunningly gather sensitive and confidential information from a person. Social engineering methods use psychological tricks to create deception for people to perform an action either knowingly or unknowingly resulting to giving up confidential information. Social engineering targets human vulnerabilities, weaknesses and flaws including anxiety, desperation, confusion, persuasion, urgency, fear, loyalty, respect, compassion, honesty, etc. What cybercriminal do with the outbreak of COVID-19 is exploitation of people’s fears of infection to spread dubious health advice, misinformation, malware and other cyber threats. People are anxious to learn how to avoid contacting the virus as well as desperate for news of a possible containment of the spreading outbreak. This anxiety leads to an unusual clinging to digital systems to know more about the situation. As a

result, any message that carries the subject coronavirus receives easy attention including spam emails, fake websites and malicious attachments which internet fraudsters use as avenue to steal information. The activities of cybercriminals as related to the outbreak is alarming and therefore becoming a concern. WHO has reported on their website and has cautioned people against criminals disguising themselves as WHO to steal money or sensitive information. WHO has therefore advised that, people should verify the authenticity of every email received before responding to them. Advice to help individual and corporate internet users to safeguard their online operations amid coronavirus scams Until the battle is over, I will urge everyone to be vigilant especially with email with string of coronavirus as a subject, as it could be a potential cybersecurity threat. Be cautious with every email with unsolicited attachment such a “Latest COVID-19 statistics, “everything about coronavirus”, “coronavirus information pack or “COVID-19 spread”. All such suspicious emails should either be ignored or deleted. Never open a suspicious email or try to download its attachment except you are sure of the source. Verify every information source. There is currently an overload of digitized information on COVID-19 outbreak purporting to be genuine and credible, and so the need to obtain authentic information cannot be over-emphasized. Since not all information out there is fac-

tual and correct, consumers of digital services must know who to follow in the cyberspace and where to search for the right information about coronavirus on digital platforms. One of the creditable websites to find authentic information and guidance regarding the outbreak of coronavirus is WHO’s website (https://www.who.int). It is only natural that humans will continue to display desperation for information leading to the coronavirus control and eradication therefore it is very important for the public to exhibit caution, exercise calmness, and should not allow their desperations or anxiety over the spread of the disease to negatively influence their online behaviours.

Seth Frimpong-Manso Chief Information Security Officer, Opportunity International (Member, Institute of ICT Professionals, Ghana) For comments, contact sethiquo@ yahoo.co.uk Mobile: +233 0247880121/0277440376

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

MARITIME

Kweku Kwarteng speaks on UNIPASS: “Gov’t to eliminate all multiple vendors” Government has revealed that it is going to eliminate all multiple vendors contracted by various Ministries, Departments and Agencies to provide services in the port clearance chain at the nation’s ports and borders of entries and exits. “We want to replace the multiplicity of vendors with a single vendor. A single vendor that will be responsible for what we call the ‘End to End System.’ This is because at the moment, we have these sub-systems coming together to give us an end to end view,” he explained. Speaking on Eye on Port’s live interactive programme, a deputy Minister of Finance, Kwaku Kwarteng said government had an overall industrialisation agenda for the port industry which included three fundamental targets which are: Automating all ports clearance process, eliminating multiplicity of vendors that provide IT, capacity building and other services for MDAs and also have the Government of Ghana be able to own and control all data gathered through the port clearance process. Paperless The Deputy Minister explained that towards achieving a full automated port clearance process, the paperless system was rolled out by government which is largely considered successful. “It has been a good initiative and a lot of the processes are now done online. The issue of getting regulators to provide permits online, is one of the things the new system is working on at the moment,” he said. According to the Deputy Finance Minister, the current system of having multiple vendors providing end-to-end customs management has led to ineffi-

ciencies within the port clearance chain and subsequently reducing the expected revenue of government from the port and import trade. “Both the GCMS and the Pre-Arrival Assessment Reporting System are owned by different vendors who consider themselves as competitors and you are asking them to complement each other for the benefits of Ghana’s Customs Regime. We did not quite get the kind of cooperation that we wanted,” he stated. UNIPASS He said, in pursuit of the agenda to have a single vendor operate at the ports, government has signed a contract with a Ghanaian company, Ghana Link who will be using a technology called UNIPASS which is a product owned by the South Korean’s Customs called, CUPIA. According to Kwaku Kwarteng, who doubles as the Hon. Member of Parliament for Obuasi West, the coming on board of the UNIPASS Technology will provide end-to-end port clearance services. “I have looked at the recommendation for many experts as

well as customs and technical people who have gone to actually review the system and they recommend it is the system that can serve our purpose,” he indicated. Own our systems He said not only will the challenge of inadequate level of interoperability be solved by the new system, but Ghana would also get to own the IT systems and all accompanying data which the current vendors have absolute control over. He said the contract by government with the new single vendor will allow customs to gradually takeover the IT Infrastructure that will be deployed by the new vendor. “The decision to focus on a single vendor and to get GRA representing Ghana’s Customs have a direct relationship with the new vendor is the beginning of a culture of customs taking control over this. If you look at the new arrangement with this new service provider a lot has changed,” he disclosed. The Deputy Minister of Finance lamented that government had been worried over its inability to control and own a

data provided through the customs management systems. “It was also about our ownership of our customs management systems. We have become so used to having private people do things that customs must be able to master and own. And the multiplicity of vendors with different contract terms and many of these systems not making customs the center of their operations; even if it was in theory, in practice it never happened,” he continued. Merge vendors? Asked why government did not consider to merge the existing vendors to harmonize the clearance processes, into one entity to solve the problem of interoperability, the Deputy Minister said this was not achievable as these vendors are competing private business entities. “These companies don’t forget, have other businesses doing. They’re just doing this as one of the things they do. So we to put them together to work together in all the things that they do? That was not something I considered,” he expressed. He said to strategically resolve the issue, Government had to introduce an entirely new vendor to provide end to end port clearance services, and the decision went through rigorous external international assessment. “It was recommended by the international consultants that did the work that we had to ought to have a single vendor, a single name, so we can focus on perfecting that system,” Mr. Kwarteng added. Judgement Debt He revealed that government does not anticipate any judgement debts to be paid as current ongoing negotiations are yield-

ing positive results so far. “We have reviewed the situation and we don’t know why people keep talking about judgement debts when the current vendors exit. I do not believe at all there would be judgement debts. Government has said to the outgoing vendors that we are happy to enter into discussions to ensure that there is a smooth exit,” he emphasized. UNIPASS to bring savings? He said the new vendor will be paid 0.75% of fob which is higher than what is being paid two major existing vendors (GCNet and West Blue) which comes to about 0.68%. But the Deputy Finance Minister emphasized that savings would ultimately be made when the variety of services that would be provided are considered. Besides, there will be not increases in Port Charges whatsoever. According to the Deputy Minister of Finance, currently the new system has been deployed in a pilot program at 49 entry points of the country and is yielding positive results. Support UNIPASS Kwaku Kwarteng said the new UNIPASS technology has come to stay and encouraged the various stakeholders in the port and shipping industry to embrace the change with a good attitude so together, Ghana can reap the full benefit of the investment. “Let us not discuss it in a negative spirit. We will proceed and perfect the system, so help us do so,” he appealed. He nonetheless gave credit to GCNet and West Blue Consulting and other existing vendors for being instrumental in making automation of the country’s port processes a success over the period of their existence.

Golden Star targets 20% female representation across business chains Golden Star Resources have set a target of having 20percent female representation across its business chian by end of 2025, which forms part of the company’s policy on inclusion and diversity. This was contained in a press statement issued by the company to mark International Women’s Day and the 25th anniversary of the adoption of the Beijing Declaration and Platform for Action (1995), considered the most progressive blueprint ever for advancing women’s rights. To this end, the company has developed new strategic endeavours to promote inclusion and diversity including: A target to have 20% female representation across our business by the end of 2025. This will be a significant step forward from the current 4% female representation. A partnership with Women In Mining UK to provide summer internships at Golden Star; The development of an Inclusion and Diversity plan that will include targets to enhance involvement of women in work placements, internships and graduate opportunities. Others include the development of an Inclusion and Diversity plan that will include targets to enhance involvement of women in work placements, internships and graduate opportunities.

There are also Programs to gain recognition as an employer of choice; A partnership with Golden Star Oil Palm Plantation (GSOPP) and Solidaridad West Africa to enhance opportunities for women and youth involved in sustainable palm oil production; and a partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ): Employment and Skills Development (E4D) in Africa Program for empowerment of women and youth in Ghana through skills and enterprise development. In support of the Policy on Inclusion and Diversity Golden Star will continue to: Support the Golden Star Ladies Club,

established in 2010 to support and empower members and to promote advocacy in our host communities; Implement new methods of engagement to promote participation and engagement by women and youth; Set targets and undertake specific programs to enhance diversity and retain a diverse and skilled workforce for achievement of our goals; Provide opportunities for members of the workforce to participate in cross cultural awareness initiatives for enhanced understanding and collaboration; Undertake data collection on diversity matters and increase

transparency through greater corporate reporting; Partner with other organisations, to deliver interventions with the objective of enhancing opportunities for economic, social and wellbeing security for women and youth; Conduct ongoing education with our teams on our values, to ensure all personnel behave in a way that upholds our standards; Promote the involvement of women and youth in the Golden Star Oil Palm Plantation, to enhance the 30% female participation and 36% youth (18-35 years) participation; and Fund the Golden Star Development Foundation and GSOPP with $2 per ounce of gold pro-

duced to provide sustainable socioeconomic development opportunities for our host communities. CEO of Golden Star Resources, Andrew Wray, on his part said “The Policy on Inclusion and Diversity furthers our commitment to live by our values: collaboration, caring, honesty, respect and fairness. This framework will be applied across our operations in Ghana and the Company’s head office in London. At the Wassa mine, we recently signed a Memorandum of Understanding with our host communities, this process incorporated a commitment to enhance the engagement of women and youth. For some time, the Company has been focused on creating employment opportunities for Ghanaian nationals and more specifically the host communities from around the mines. These initiatives have successfully resulted in a 98% Ghanaian work force. We are now looking to extend these initiatives to ensure our work force reflects the diversity of our host communities. The insights shared by the diverse team that has contributed to this policy will be fundamental to our success and this process has established relationships that we hope to continue to grow in the future.”

10 | THEBUSINESS24ONLINE.COM

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

BUSINESS24 | FRIDAY MARCH 13, 2020

| THEBUSINESS24ONLINE.COM

H E A LT H & P H A R M A C E U T I C A L S

Healthcare workforce ‘not equipped’ for the adoption of AI A report from EIT Health and McKinsey & Company has called for a generation of data literate healthcare professionals to be educated and trained in order to realise the transformative potential of artificial intelligence (AI) in Europe. Researchers carried out 62 interviews with public and private sector decision-makers and thought leaders across Europe, North America and Asia between December 2019 and January 2020. They also conducted a survey of 175 healthcare professionals, health investors, AI startup founders and other executives during the same period. The resulting report, Transforming healthcare with AI: The impact on the workforce and organisations emphasises the need to define new organisational models and skillsets, including basic digital skills, biomedical and data science, data analysis, and the fundamentals of genomics. Jorge Fernández García, director of innovation at EIT Health and report co-author, said that because these subjects are rarely taught alongside traditional clinical sciences “today’s healthcare workforce is simply not yet equipped for the adoption of AI”. Better involvement of healthcare professionals in the early stages of AI development was also identified as a key need. Currently 44% of those surveyed, chosen for their interest in healthcare innovation and AI, had never been involved in the

development or deployment of an AI solution. Why It Matters The World Health Organization (WHO) estimates that by 2030 the world will be short of 9.9 million doctors, nurses and midwives. Supporting the widespread adoption and scaling of AI could potentially help alleviate resource capacity shortfalls, by streamlining or even eliminating administrative tasks

which occupy healthcare professionals’ time. At present, diagnostics is the main application of AI within healthcare, but, in the next five to 10 years, healthcare professionals expect clinical decision making to top the list of applications, according to the survey. The Larger Context The need to recruit the right talent for healthcare AI implementations, was also recently

raised by Jason Jones, chief data scientist officer at Health Catalyst. He told Healthcare IT News that the healthcare sector may struggle to compete with the tech sector in attracting data scientists and suggested that organisations consider their needs and assets. On The Record García said: “Being at the forefront of healthcare innovation in Europe, we’re seeing an increas-

ing number of tangible, impactful and exciting AI solutions created. However, we must couple the generation of new technology that can relieve some of the pressure on healthcare services, with the ability for it to be integrated into care delivery. Now is the time for us to address the gaps, so that Europe does not fall behind in the application of AI.”(mobihealthnews)

Digital health solution to Africa’s healthcare challenges With the rise in the cost of healthcare globally, medical technology (Medtech) has the ability to reduce costs, improve the quality and efficiency of healthcare, as well as support the shift to value-based care. In comparison to being valued at $41.2 billion in 2017, the Internet of Medical Things (IoMT) market is expected to rise to $158.1 billion by 2022. According to the Medtech and the Internet of Medical Things report released by Deloitte, this illustrates how the healthcare sector is increasingly becoming reliant on IoT technologies to create solutions to some of the biggest healthcare challenges faced. More specifically, innovations in Medtech can play a major role in alleviating health risks experienced in Sub-Saharan Africa – where challenges are exacerbated by climate change, limited infrastructure and a lack of healthcare professionals. Ryan Sanderson, Exhibition Director of Africa Health Exhibition and Conferences 2020, explains that the strengthening of health systems through digital innovation is dependent on collaboration between private, public and development partners. 2020 has brought the need for innovative collaborations in the digital world, which includes healthcare organisations partnering with social media giants as an example of this. The latest public health crisis, the outbreak of coronavirus (COVID-19), has seen the widespread of misinformation about the new virus, leading to an “in-

fodemic” according the World Health Organisation (WHO). As a way to counter the spread of misinformation, one successful tactic that has been employed is Google’s SOS Alert that comes into effect when people search for “coronavirus”. Instead of featuring the latest news about the virus, the alert directs people to the WHO’s social media accounts to feature correct information. “Platforms such as Facebook, Twitter and Google have changed the way we communicate and share information. Partnerships with these channels and other digital giants is becoming more and more important in being able to mine

and provide accurate health information to both healthcare professionals and the general public at large,” says Sanderson. It is not the only form either, Rwanda has become the first country in the world to use drones to assist with the transportation of blood to rural areas, while Uganda’s SMS for Life programme tracks and manages medicine stock levels through the use of mobile phones. “The IoMT has become the leading source of solutions to improve access and delivery of health services, especially in low resource settings,” adds Sanderson. These issues, among others, will be addressed at the 10th

annual Africa Health Exhibition & Conferences 2020 which will be held at the Gallagher Convention Centre, Johannesburg, from 12 – 14 May 2020. The event will host 21 CPD accredited conferences that are aimed at bridging the gap in medical knowledge by - providing the very latest - insights into cutting-edge procedures, techniques and skills. Three new conferences will be included in this year’s programme; dental, physician mental health and healthcare facilities. The Leaders Forum will once again be returning as the leading platform for thought-leaders and key decision makers across the private and public spec-

trum. Africa Health will also include the internationally renowned -Medlab Series – a portfolio of medical laboratory exhibitions and conferences across the Middle East, Asia, Europe, and the Americas. In its 10th year, Africa Health will focus on harnessing the strengths of healthcare providers and innovators along with medical academia to make real progress in the ever-changing world of human health. The event is expected to attract more than 10,500 healthcare professionals from across the globe and over 600 international and regional companies who value networking, business and networking. (Source: Bulawayo)

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

BUSINESS24 | FRIDAY MARCH 13, 2020

| THEBUSINESS24ONLINE.COM

MINING

Goldfields sponsors W/R Independence Day inter-district JHS Quiz competition The UMaT Basic School in the Tarkwa Nsuaem Municipality of the Western Region have retained their title as champions of the 5th annual edition of the region’s Independence Day inter-district JHS Quiz Competition held in Tarkwa. The event was under the auspices of Goldfields Ghana Limited. The defending champions beat their close contenders Christ Leading International School, from Ellembele with 82 points as against 77 points, with Peace International School from Jomoro Municipal also placing 3rd with 76 points. The winners took away a trophy, a brand new HP laptop, a canon three-in-one multipurpose printer, medals, textbooks (Maths, Science, English and ICT) Plaques and certificates, whiles the first runner ups Christ Leading International School received a brand new HP laptop, medals, textbooks (Maths, Science, English and ICT) Plaques and certificates. Peace International School, from Half Assini in the Jomoro Municipal, which placed 3rd, also took away a brand new HP laptop, medals, textbooks (Maths, Science, English and ICT) Plaques and certificates. The S.I.P.L School from the Wassa East District placed 4th position with 69 points, whiles St Anthony Catholic School from the Effia Kwesimintsim Municipal (EKMA) placing 5th position with 60 points as well as

St Augustinus Preparatory from Nzema East Municipal placed 6th position with 58 points all received textbooks (Maths, Science, English and ICT) Plaques and certificates. The seventh to the eleventh positions all received plagues, certificates, text books, student companions and mathematical sets. In all, eleven schools representing their respective MMDAs, namely Ahanta West, two time champions, Nzema East, maiden champions, Ellembelle, Jomoro, Takoradi Metro, Effia Kwesimintsim Municipal, Shama District, Wassa East District, Mpohor District, Tarkwa Nsuaem and Prestea Huni Valley participated in the competition. The criteria for participation were based on the performance of the 2019 Basic Education Certificate Examination (BECE). The contestants were quizzed on issues about the history of Ghana (pre and post-colonial, pre and post-independence), chieftaincy and tradition, ICT,

arts and culture, Science and environment, sports and general knowledge. The chairman for the occasion HRH Tetrete Okuamoah Sekyim II, Paramount Chief of Wassa Amenfi traditional area, commended the students for exhibiting their academic intelligence and urged them to remain focus in their educational endeavours to enable them become responsible citizens in future. He tasked teachers to adhere to the standards of the educational ethics and refrain from all forms activities that jeopardized their profession. The Executive Chairman for the planning and organising committee HRH Obrempon Hima Dekyi XIV and Paramount Chief of Upper Dixcove Traditional Area, thanked sponsors namely, headline sponsor Goldfields Ghana Ltd, Gold sponsors TAQA and Anglogold Ghana Ltd and supporting sponsors such as Nezo Oilfields Services Ltd, Seaweld Engineering Ltd,

Oceaneering Ghana Ltd, Amandi Construction Ltd, REF Engineering and Construction Ltd, AEL Ghana Ltd, Nana Mintah Company Ltd, Sieco Company Ltd, BBS Engineering Ltd, Toyota Ghana Ltd, office of Members of Parliament for Prestea Huni Valley, Ellembele and Tarkwa Nsuaem as well as the Ahanta West, Effia Kwesimintsim and Tarkwa Nsuaem Municipal Assemblies for their immense support towards supporting education in the region. He added that the competition was designed to help develop the abilities of contestants and also inculcate in them how to work as a team, adding that he was satisfied with the performance of the schools and admitted that there was vast difference in the performance of the schools, compared to last year’s competition. On his part, Hon Gilbert Asmah, MCE of Tarkwa Nsuaem Municipal Assembly on behalf of the Western Regional Minister, commended the organizers for putting together such a laudable program to improve the performance of students in the various District in the Western Region. He noted that promoting the historical values of Ghana through education, quiz competitions among the basic schools in the Region is an imperative platform has a major key for growth and development of our country. He urged all MMDAs and all District education di-

rectors to enforce forceful measures and standards in the various schools to promote the educational level in the Region. The Regional Manager for community relations at Goldfields Ghana Ltd, headline sponsor of the 2020 quiz competition, Mr. Robert Siaw, lauded the organisers for initiating the competition adding that, “This is an educative programme as it seeks to test the students on Ghana’s rich history and current affairs”. He added that education holds the key to development and that was the primary reason Goldfields agreed to sponsor the program. Ms. Sally Acheampong, the CSR Coordinator of Takoradi International Company (TAQA-TICO) commended the traditional leadership of the western region for their key role in championing education which falls in line TICO’s vision. “TICO is committed towards promoting education in the region hence our contribution for this wonderful programme which we also supported in 2019”. Mr. Addo Dankwa Akuffo, Western Regional Director of Education congratulated participants for their active participation and lauded sponsors for supporting the educational sector of region. He craved the indulgence of the teachers to include questions which will make the students think critically before they respond to develop their thinking skills.

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

| THEBUSINESS24ONLINE.COM

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

BUSINESS24 | FRIDAY MARCH 13, 2020

| THEBUSINESS24ONLINE.COM

F E AT U R E

The US Needs A Draft

By Charles C. Krulak The United States should establish a mandatory two-year paid national service program that would bring together Americans of different backgrounds and help overcome barriers to a deeply felt and widely shared civic identity. If young Americans grow up believing that theirs is a divided country, it will remain so. The United States needs a new draft – but not the kind you think. For 25 years, before retiring as the 31st Commandant of the United States Marine Corps, I proudly wore the Eagle, Globe, and Anchor, the USMC’s insignia. I faced all kinds of enemies on the battlefield, without fear or doubt, because I always believed wholeheartedly in America’s democracy and the Constitution that is its foundation. We are losing that belief and our connection to it. When I was a young Marine in Vietnam, during a time of deep internal division in America, about half the country’s people said they trusted their fellow Americans. That was very discouraging. Today, according to a recent Brookings Institution study, that number is less than one-third. Americans’ civic discourse has all but disappeared, giving way to pessimistic apathy, blind partisanship, and un-American rage at our fellow citizens. In our national history, when we have faced terrible times of economic hardship, civil discord, and political division, more often than not an external threat brought us back together. Today, however, that threat is internal, and it is a lot harder to identify. But the effects are clear – a fundamental weakening of the bonds that unite us as Americans. I am not a Democrat or a Republican. I am an American,

and my life has been guided by a clear and simple oath: to protect the Constitution from all enemies, foreign and domestic. We have the world’s greatest military, and while foreign threats are real, I know our service members can handle them. It is the domestic threats that we must address. It is time to institute a new draft to create a national force of young men and women to serve our country’s critical domestic needs, while instilling in them a greater appreciation of our democracy and how it functions. Our government should establish a mandatory, two-year, paid national service program that would bring together Americans of different backgrounds and help break down geographic, racial, ethnic, religious, and socioeconomic barriers to a deeply felt and widely shared civic identity. Unlike AmeriCorps and the Peace Corps, the two bestknown existing federal US service programs, priorities should be defined at the state and local level, because they differ widely across the country. The federal government should launch a block-grant program for each state to decide where an army of young men and women could best address its communities’ most urgent social needs. Such needs might include assistance for the homeless and military veterans; mentoring students in poorly performing schools; regional crisis forces to improve responses to natural disasters; a program, modeled on the New Deal-era Works Progress Administration, to rebuild local infrastructure like bridges and roads and clean up waterways and parks; and rural health initiatives to address critical nursing shortages, confront opioid addiction, and care for the elderly. And, to broaden young Americans’ perspectives on issues facing communities beyond their own, half of each

state’s draftees should carry out their service in another state. All draftees should begin their service with a 12-week training period similar to what we do in the military, with a curriculum focused on teaching self-discipline, accountability, teamwork, and physical fitness. We should create a program for retirees from service professions to become mentor-instructors to these young national service recruits. Americans are living longer, have less retirement resources as a result of the 2008 financial crisis, and have great experience and wisdom that would benefit our youth. Moreover, as both the military and our college system downsize, there are vacant facilities in every state where such training could take place, putting to use what might otherwise become derelict infrastructure. We should also design a modern equivalent of the successful post-World War II GI Bill for our

young men and women when they finish their service. Benefits could range from subsidized mortgages and low-interest loans to start a business to partial school tuition, subsidies for living expenses, and accelerated debt forgiveness. According to a 2018 Public Opinion Strategies poll, about two-thirds of Americans would support a national service program. And it would be good policy: alumni of existing service programs go on to complete four-year college at much higher rates than their non-service peers. Most important, such a program would go a long way toward bridging Americans’ differences. If our young people grow up believing that theirs is a divided country, we will have destroyed our future. But if they can help unify our country, then our best days will be yet to come. There is no more important challenge.

By Charles C. Krulak

Charles C. Krulak is a former Commandant of the US Marine Corps and President of BirminghamSouthern College.

BUSINESS24 | FRIDAY MARCH 13, 2020

THEBUSINESS24ONLINE.COM |

BUSINESS24 | FRIDAY MARCH 13, 2020

20 | THEBUSINESS24ONLINE.COM

New Ethiopian Airlines Area Manager calls on Aviation Minister The in-coming Area Manager of Ethiopian Airlines, Yemesrach Alemayehu, has called on Ghana’s Minister for Aviation, Joseph Kofi Adda, to officially inform him about taking over from Ms. Genet W/Michael effective March, 2020. Ms. Yemesrach Alemayehu has worked with Ethiopian Airlines for 12 years, seven (7) of which has been in management position. She has a strong management and pricing background and is expected to further grow the Addis Ababa-based airline’s business and brand in the country. Mr. Adda, welcomed her and expressed his preparedness to work with her to collectively grow the sector in Ghana. He said: “My doors are always opened, let’s engage and see how we can all support the growth of the Aviation sector in Ghana.” Mr. Adda commended her predecessor, Ms. Genet W/ Michael who has helped grow the ET brand and business in Ghana over the last seven (7) years. He further commended the airline for their continuous investment in women. Women professionals are at the heart of Ethiopian Airlines’ operations. As an equal opportunity employer, Ethiopian cre-

ates an enabling environment for women to become the next generation aviation experts. For instance, on 7 March, 2020 the airline operated an all-women functioned flight to Washington DC, highlighting the airline’s progress in empowering African women, and the contribution of women to the socio-economic development of the continent. Regarding the all-women functioned flight, Ethiopian Group CEO Mr. Tewolde GebreMariam, remarked, “Ethiopian firmly believes that such remarkable flights inspire African women and young girls to dream big and realize their dreams not only in aviation, but also in science, technology, engineering, art and other fields. While we celebrate the economic, social and political achievements of women in Africa, we take a bold move towards further championing gender equality in Ethiopia and Africa at large.” Ethiopian Airlines operates daily flights from Accra to over 120 countries around the world via its hub in Addis Ababa. The e-visa (online visa application) allows Ghanaian passengers to apply for visa from the comfort of their homes or offices. Passengers with a longer stopover in Addis Ababa, can book a free city tour prior to departure.

Feasibility work on Keta port to commence next month House to answer a question posed by the Member of Parliament for Keta, Richard Mawuli Kwaku Quashigah, on the plans government has to build a sea port in Keta in the Volta Region. Mr. Asiamah said his ministry had met the Paramount Chief and Sub-Chiefs of the Keta area and has sensitized them on the up-coming Project, he noted. “The Government, through the Ministry of Transport, is committed to execute the Keta Port Project to help create jobs and enhance the socio-economic development of the Volta Region and Ghana as a whole,” he said. The development of the Port of Keta has always been the dream

Kweku Ofori Asiamah –Minister for Transport

By Eugene Davis Feasibility studies for the construction of a port in Keta in the Volta Region is expected to begin next month, Minister for Transport, Kweku Ofori Asiamah, has told Parliament.

“It is expected that consulting services for the feasibility studies will start in April 2020. The outcome of the Feasibility Report will determine the Infrastructure needs of the Project,” Mr. Asiamah told Parliament. He was appearing before the

of the people of the Volta Region in general, and those of the Keta Municipality in particular. Over the years, there have been unsuccessful attempts by the chiefs and people of the area to either get government to undertake the project or attract private investment for the project. Mr. Asiamah assured the House that: “This government through the Ministry of Transport is going through the necessary process to develop the Keta Port Project.” As of February 10, 2020, a suitable site in Kedzi within the Keta Municipality has been identified for the construction of the port. This site, according to the

sector minister, takes a good developmental and commercial use of a pre-engineered system of parts of the Keta Lagoon. The President has also issued an Executive Instrument (EI) to declare the area a port zone. .A Keta Port Director to coordinate all the activities of the Keta Port Development has been appointed by the President. Expression of Interest have also been advertised and seven (7) out of the nineteen (19) respondent applicants were shortlisted to submit Technical and Financial proposals for feasibility studies. The technical evaluation was also completed in February, 2020.