The International Monetary Fund (IMF) have cautioned central governments in Sub-Saharan Africa including Ghana to ensure that in its quest to responding to climate change it does not sacri ce basic needs such as schooling, health, and infrastructure services.
According to the Regional Economic Outlook for Sub-Saharan Africa report 2023 titled ‘The Big Funding Squeeze’, it is important that resources allocated towards climate change do not crowd out those devoted to basic needs and other development goals.”
The report further revealed that critical development needs, like schooling, health, and infrastructure services, are in danger of not being adequately lled under the funding squeeze. Most governments have limited scal space, hampering their ability to protect the most vulnerable and allocate su cient funds to essential development sectors.
Limited nancing makes it particularly challenging to address the ongoing food security crisis that is a ecting the region. If the di culties in addressing basic needs were not enough already, climate change is presenting additional spending pressures on shrinking
By Eugene Davisscal budgets. For instance, cyclone Freddy—one of the latest in a series of climate shocks to the region—has battered vulnerable families and communities in southern Africa, but countries have limited means for climate adaptation.
For the African continent alone, adaptation costs could reach $50 billion per year by 2050, in a 2-degree Celsius scenario (GCA 2021), and mitigation costs for a clean energy transition in Africa have been estimated at around $190 billion per year until 2030 (IEA 2022).
public sources estimated at about $22 billion in 2020, as shown in Figure 13 (Analytical Note “Closing the Gap: Concessional Climate Finance and Sub-Saharan Africa”).
Advanced economies have also fallen far short of a 2009 pledge to mobilize $100 billion a year for climate actions in developing countries.
“It is important that resources allocated towards climate change do not crowd out those devoted to basic needs and other development goals. Ocial development assistance, for instance, has been declining over the last two decades, and despite a temporary surge during the COVID-19 pandemic, aid ows are likely to shrink further over the near term.”
Other Flows: $0.6bn
Public grants
$7.5bn
Private ows
$3.1bn
Public concessional debt
$7.7bn
Public non-concessional debt: $3.5bn
The report however, states that climate funding to the region remains well below these needs, with private and
Additionally, the report recommended that more support from advanced economies is needed to ensure that the essential development needs of African countries are adequately nanced, with the objective of fostering strong, resilient, and inclusive growth. Furthermore, climate nance must come on top of current aid ows rather than replacing them.
The Fund also suggests that governments should unlock more concessional nance. Sub-Saharan African countries Story continues on page 3
Story continued from page 2
encounter challenges in accessing concessional climate nance, in part because requirements vary greatly across nancing providers. For example, climate funds—a key channel for concessional nancing—have the potential to be scaled up signi cantly to help meet the region’s climate adaptation and mitigation needs. However, the numer-
ous access requirements and project selection criteria for these funds’ present serious hurdles for countries in the region seeking to access this nancing. To help unlock concessional nancing, development partners—including the IMF— can support countries in building and strengthening capacity. Priority areas include governance and public nancial management, develop-
ment of adequate data and climate strategies, formulation of legal and regulatory frameworks, and nancial system reforms.
Also, there is the call to increase private climate nance. The private sector has the potential to mobilize significant climate nance in the region as it does in the rest of the world.
This can be done by developing the use of nancing instruments like green bonds or sustainability-linked bonds and attracting private institutional investors. Increasing the attractiveness of private climate nance will require better data to support nancial risk monitoring and analysis on performance indicators, but also more transparency and disclosure.
Mobile money services are growing faster than predicted around the globe, as digital services continue to rise in popularity, according to the GSMA’s annual ‘State of the Industry Report on Mobile Money 2023’, published today.
The report, published annually by the GSMA and funded by the Bill and Melinda Gates Foundation, demonstrates that rates of adoption are even quicker than expected, with the number of registered mobile money accounts growing by 13% year on year, from 1.4 billion in 2021 to 1.6 billion in 2022. While it took the industry 17 years to reach the rst 800 million customers, this is extremely signi cant growth as it has taken just ve years to reach the next 800 million.
In 2022, daily transactions via mobile money reached $3.45 billion, exceeding the $3 billion amount predicted
in 2021. Total transaction value for mobile money grew by an incredible 22% between 2021 and 2022, from $1 trillion to around $1.26 trillion.
However, in many areas worldwide, more work is still needed to help give underserved communities access to safe, secure and a ordable nancial services. With 1.4 billion people worldwide remaining unbanked, the GSMA Mobile Money Programme is working with mobile operators and industry stakeholders worldwide to create a robust mobile money ecosystem, increasing the relevancy and utility of these services and ensuring their sustainability.
The 2023 report shows there are now 315 live mobile money deployments across the globe, with peer to peer (P2P) transfers and cash-in/cash-out transactions still among the most popular use cases. Bill payments using mobile money grew by 36% year-on-year – faster than any other use case - and the industry continues to focus on use case
diversi cation, playing an important role in digitising economies.
As the world increasingly moves on from COVID-19, mobile money services have continued to show resilient growth that was instigated during the pandemic. Up to 400 million accounts were added during the pandemic alone. This rapid uptake is largely due to the technology’s role in enabling millions of people across low- and middle-income countries to access digital nancial services. This upward trend continues, with the number of accounts active on a 30-day basis also growing by 13 per cent year-on-year to 401 million in 2022.
The report also shows that, during 2022, mobile money-enabled international remittances grew by 28% year on year –to $22 billion. During the pandemic, many diasporas sent more funds via mobile money to friends and family than ever
before. As a result, international remittances grew signicantly in both 2020 and 2021, as many senders favoured mobile money for its e ciency, speed, safety and cost-effectiveness. The trend continued in 2022, albeit at a slower rate.
Mobile money is also continuing to drive nancial inclusion for the world’s unbanked, particularly amongst women in rural communities, where access to mobile money can play a transformational and empowering role.
However, according to the latest GSMA data, there is still a mobile money gender gap that has shown signs of widening over the last year, particularly in India, Indonesia and Pakistan. Mobile phone ownership is one of the main drivers of the mobile money gender gap, however, a number of other barriers and
Story continues on page 4
Mobile money exceeds industry expectations …reaches a transaction value of US$1.26tn in 2022
Story continued from page 3
cultural norms also prevent women from adopting mobile money. As a result, women in low- and middle-income countries are currently 28% less likely than men to own a mobile money account.
Growing agency networks
The number of mobile money agents also increased signicantly last year, with a 41% increase between 2021 and 2022. The overall number of agents went from 12 million in
2021 to 17.4 million in 2022. The number of active agents increased by 25% to 7.2 million in 2022. A lot of this growth came from Nigeria, where a more liberal regulatory regime meant an increase in mobile money providers. Agents continued to prove to be an invaluable part of mobile money services and were responsible for two-thirds of all cash-in transactions in 2022.
“It is promising to see the continued growth of mobile money worldwide. Mobile money has a orded millions of unbanked and underserved people in low- and middleincome countries access to digital nancial services, for the rst time,” said Max Cuvellier, Head of Mobile for Development, GSMA. “However, even with this signi cant growth, there is still a long way to go to bring those services to
over a billion people worldwide who remain unbanked. The GSMA is therefore encouraging governments worldwide to keep developing the enabling policies that can support mobile money deployments and further boost the growth of this crucial ecosystem. Doing so helps accelerate the digitization of national economies and build nancial resilience, allowing communities to support themselves in uncertain times.”
As the sun rose over Accra, Abena Osei-Poku, the Managing Director of Absa Ghana, stepped out of her o ce and into the bustling streets of Ghana's capital city. Her destination? The small and medium-sized businesses that Absa has been supporting since its launch in Ghana three years ago.
Absa's commitment to these businesses is unwavering, and Abena is determined to reinforce that message in person. She visits these businesses frequently during the year, immersing herself in their world and listening to their needs. On this particular day, she headed to the Spintex
road area to visit two clients who are making signi cant impact in their respective industries.
One produces mineral water plastic bags while the other distributes ethanol for the production of hand sanitizers. These businesses are vital to Ghana's economic growth, and Abena wants to make sure they know that Absa stands by them in good and di cult times.
The meeting was candid, with the clients expressing their gratitude for the bank's support and highlighting key areas where they need urgent assistance. The Man-
aging Director listened attentively, assuring them that Absa fully understands their needs and is committed to providing the support they require to keep their businesses running smoothly.
In the current economic climate, SMEs are facing a myriad of challenges, and Absa's commitment to their success has never been more important. Abena's visit is a reminder that sometimes, the best way to connect with clients is through a personal touch.
Absa's commitment to SMEs extends beyond just lip service. The bank has imple-
mented groundbreaking initiatives, including a partnership with the Mastercard Foundation and providing collateral-free loans to these businesses. With a passion for always lending a helping hand, Absa has established itself as an undisputed market leader in Ghana.
For Abena Osei-Poku, supporting SMEs isn't just a business strategy; it's a personal mission. As she left the businesses she had visited, she was already planning her next trip, eager to continue listening, learning, and helping Ghana's small and medium-sized businesses thrive.
Newmont Africa (hereinafter referred to as the “Company”), a subsidiary of Newmont Corporation (the world's largest gold mining company ) and operator of the Ahafo South and Akyem mines, is requesting Expressions of Interest (EOI) from eligible, capable, and suitably quali ed companies for the provision of Blockwork Building Construction S ervices for its Ahafo North Project The Project is located in the Ahafo Region of Ghana, near Afrisipa krom , approximately 20km south -east of Sunyani.
General
T he scope of the s ervices includes the detail design (shop /construction drawings), supply and construction of blockwork buildings for various permanent f acilities This involves the construction of eleven (11) blockwork buildings which consist of approximately 1 2 , 0 00 m 2 of total building oor area with 1,500 m 3 of concrete slabs and nearly 15,000 m 2 of block wall over a 1 5 -month period Speci cally, it would cover the following :
Surveying and setting out of the w ork s
Materials testing and quality control services.
Detailed excavation , back lling and compaction for the construction of reinforced concrete footings, slabs, and underground services.
Supply and installation of all concrete works , including formwork and falsework, as well as all reinforc ement of steel and wire mesh, including cutting, bending , and xing
Supply and construction of blocks and mortar for the blockwork buildings
Supply and installation of termite treatment within the building areas
Supply and installation of all external building components including steel roof trusses, frames, roof sheeting, verandas, gutters, downpipes, lintels, ashings, ridge capping, eaves, vents, windows, doors, rendering and painting
Supply and installation of all internal building components , including ceilings, insulation, wall and oor tiling, waterproo ng of wet areas and all associated xtures and ttings.
Supply and installation of furniture and equipment within the buildings
Installation of electrica l, communications and air conditioning systems.
Supply and installation of piping and plumbing systems , including the supply and installation of stormwater d rains.
Testing and commissioning for full and complete performance of each building
Minimum Criteria
Interested o rganizations must demonstrate that they can meet the following minimum criteria:
Company is incorporated in Ghana with exclusive Ghanaian shareholders and directors
We require all appropriate company documentation as well as copies of identi cation of the shareholders and directors to meet this requirement
Company is registered wit h the relevant regulatory and professional bodies. This includes but is not limited to the Ghana Minerals Commission. We require all appropriate company documentation to meet this requirement
Capability and proven records of successfully providing similar blockwork construction within the mining or related industr ies We require an experience statement with veri able references for the last three projects to support this capabilit y References provided must include customer organization name, customer name/contract number, date contract was awarded, contract reference with brief description, country/location, value of contract , and date contract was completed
Details t hat demonstra te the company has current capacity and capability to perform the construction in addition to other current projects and any projects tendered but yet to be awarded I nformation to include details of current projects, projects tendered, labour, equipment a nd temporary facilities resources available within the company
Financial strength and ability to provide uninterrupted supply and construction s ervices for a minimum of two years We require supporting document ation to demonstrate this capability including the company’s turnover in the last two years, pre -tax pro t (or loss) for the past two years, net worth / shareholders’ funds (or net liabilities) at the date of the latest accounts , the present cash/credit position , and the company’s normal means of funding major contract works.
Full compliance with all applicable health , safety, environmental, and any other relevant and/or applicable standards We require health and safety management plan, and an environmental management pl an to support this capability
P rovide safety and environmental performance records for the past ve years , indicating workplace injury, disease , and environmental incident statistics. Details must include y ear, p eriod of r ecord, h ours w orked, f atalities, f irst a id injuries, m edical ly t reated i njuries, r estricted w ork i njuries, d ays lost and lost t ime i njury r ate per 200,000 man -hours worked
Robust q uality m anagement s ystem (Quality Assurance/Quality Control – QA/QC) to e ectively execute the blockwork building construction s ervices.
Well de ned c ompany structure and veri able evidence of competency of employees.
Please express your interest by submitting an e -mail to AhafoNorthTenderBox@Newmont com indicating the name of your company, contact person , and telephone details You shou ld also include all the requisite document s demonstrating your ability to comply with the above minimum criteria.
All e xpression s of i nterest should be accompanied by a formal letter on the interested service provider’s letterhead (submitted to the above e -mail address), with subject “A HN _RFI -1 801 -2023 – Blockwork Building Construction Services ” by close of business (5:00 p m GMT) o n Friday , 2 8 th April , 2023
However, it's important to be aware of the fact that the information ChatGPT provides is highly contextual. While ChatGPT can quickly identify trends and patterns, it is unlikely to be able to provide the same level of analysis as a human researcher. Therefore, businesses must balance the bene ts of speed and e ciency with the need for accuracy and depth of analysis. “For example, if a business asks ChatGPT "What is the best way to win customers between income categories?” the response they will receive is likely to be very generic, without the addition of signi cant values or real strategic insights that they do not already have. The reason is simply that ChatGPT does not know any of the ner nuances about the business, or the geographic and demographic factors that may in uence its marketing e orts. So, the response, while probably fairly accurate, will likely be far too broad to be useful”, he cautioned.
on a particular topic, and then critically assessing the responses they receive, businesses can gain valuable insights into whether they are actually asking the right questions or focusing on the right intelligence that will help them grow and prosper.
“When asked the right questions, in the right way, ChatGPT may identify patterns and trends that would not be immediately apparent to human researchers. This can help businesses identify blind spots in their operations or generate new ideas for growth. This feature of ChatGPT can be particularly helpful for businesses that are just starting out, or those that are looking to pivot in a new direction based on market movements or competitor pressure,” Samuel explained.
While ChatGPT has created something of an Arti cial Intelligence (AI) storm in recent months, AI is anything but a new concept. In fact, businesses have been using it, to a greater or lesser degree, for decades now, whether to automate basic processes, analyse datasets, or deliver digital customer support.
What ChatGPT has done, however, is raise awareness of the potential that AI has to add signi cant value to businesses of all shapes and sizes. Chief Information O cer at First National Bank, Samuel Dakurah explained that, as an AI language model trained to understand and respond to human language, ChatGPT has itself become a popular way for many businesses and employees to save time and improve e ciencies.
“However, while there are many bene ts to using ChatGPT, there are also a number of limitations, even risks, that businesses should keep in mind in order to
ensure that they are indeed making the most of this exceptional technology” he said. Samuel shares some pros and cons for users of ChatGPT.
The rst, and arguably most valuable, of these bene ts is the opportunity that ChatGPT presents for businesses to save time when gathering knowledge or doing research. Instead of spending hours scouring the internet or consulting with expensive experts, businesses now have the option to simply ask ChatGPT for information on a particular topic and receive a response in a matter of seconds.
This can be particularly helpful for small businesses or start-ups that may not have the nancial or human resources at their disposal to conduct extensive research on their own. It can be a quick, cheap, and useful way to conduct market research, identify trends, and gather insights into customer behaviours.
The second bene t of ChatGPT is that it can help businesses improve e ciency by automating certain tasks. For example, ChatGPT may be useful in generating generic content for social media or marketing campaigns, thereby saving businesses time and resources. However, this content is once again going to be generic and may not capture the ner marketing requirements of the business. It is unlikely to be aligned with a business's brand or messaging and it may not always be able to capture the subtleties of the brand voice. As a result, businesses need to be careful when using ChatGPT to generate content and ensure that it aligns with their overall branding and messaging strategy.
The third business bene t of ChatGPT – and possibly the one that has the potential to be of highest value - is that the AI platform can serve as an objective sounding board for those looking to gure out whether they are asking the right questions about their business. By asking ChatGPT for information
Of course, it's important to remember that ChatGPT's insights are only as good as the questions it is being asked. In other words, if a business is asking the wrong questions or focusing on the wrong information, ChatGPT may be unable to provide the insights they need. This means that any business wanting to derive worthwhile bene ts from ChatGPT needs to be highly strategic in its use of the platform.
Ultimately, it is imperative that business users of ChatGPT keep in mind that it is a tool, not a solution. While it can undoubtedly assist with certain tasks, it’s no substitute for human insight and creativity, and it should never be the sole source of business intelligence or market information.
“As fantastic as ChatGPT may seem, an AI language model is not (yet) a substitute for a holistic business approach, built on relevant quantitative and qualitative data, and underpinned by deep experience and an integrated approach to understanding markets and customers” he concludes.”.
Pernod Ricard Ghana, a subsidiary of Pernod Ricard Group, a leading producer of wines and spirits, has donated 20 branded barricades to the Ghana Police Service as part of its ‘Metwi a, Mentwa’ road safety campaign to sensitise commercial drivers and commuters on the detrimental e ects of drink-driving ahead of the Easter festive season.
The gesture, which is in partnership with Street Sense Organisation (SSO), seeks to create visibility and help intensify this year’s ‘Metwi a, Mentwa’ campaign.
The ‘Metwi a, Mentwa’ campaign, launched in December 2021, is aimed at promoting responsible behaviour among high-risk commercial drivers to provide enhanced and safer transport services for com-
muters.
Speaking at a brief handover ceremony, Sustainability and Responsibility Manager for Pernod Ricard Ghana, Eunice Osei-Tutu, said the barricades, which will be situated at di erent locations across Ghana’s major traveling roads, will remind drivers not to drink and drive.
"In line with the fourth pillar of our roadmap, ‘Responsible Hosting’ which is to ensure that we ght alcohol misuse in society by taking action on harmful drinking and that our brands are enjoyed responsibly, we deemed it important to go beyond speaking to drivers as part of e orts to curb drink-drive related accidents.
To intensify this year’s edition, we are partnering with the state’s enforcement agency
responsible for road safety in Ghana with these barricades to share our message with the drivers, which is ‘Metwi a, Mentwa! — which means ‘If I will drive, I will not drink’.
"We believe that these barricades on our major traveling roads will remind high-risk commercial drivers about the need to avoid driving under the in uence of alcohol. It will also promote responsible behaviour among them and provide enhanced and safer transport services for commuters, especially during the Easter and Christmas festivities", she added.
Receiving the barricades on behalf of the Ghana Police Service, ACP Abass Al-Meyao, Director of Operations, commended Pernod Ricard Ghana and Street Sense for the initia-
tive.
"On behalf of the Police Administration, we wish to thank Pernod Ricard Ghana for these crash barricades. They are very timely and in line with the goal to drastically reduce road accidents in Ghana. We also want to assure them that we will put them to maximum use to keep our streets safe and to carry the message across to drivers and commuters. Meanwhile, we use this opportunity to caution drivers not to drink and drive".
On her part, Mrs. Gloria Laryea, a member of the Board of Trustees for the Street Sense Organization, also appealed to the drivers to adhere to road tra c rules and regulations to save more lives.
The Ghana Export-Import Bank (GEXIM) has appointed Mr. Emmanuel Essil e-Conduah as Head of Corporate A airs Department.
Mr. Essife-Conduah, until his new appointment was the Senior Manager, Communications and External Relations.
As a seasoned Communication and Marketing Specialist, Mr. Essife-Conduah joined the Bank then EDAIF in 2010 as a Manager PR & Marketing and rose through the ranks over the years until he attained the position of Senior Manager, Communications and External Relations in 2019. He holds Master’s degrees in Public Sector Management and Development Communications.
Mr. Essife-Conduah also holds Bachelor’s degree in Marketing, Post Graduate Diploma in Marketing CIM UK, a Diploma in PR & Advertising.
He is also an Accredited Member of the Institute of Public Relations (IPR) and a formal Honorary Secretary for IPR.
He has 28 years of professional experience in Corporate Communications and Institutional Reform
He joined the Bank then EDAIF in 2010 as a Manager PR & Marketing and rose through the ranks over the years until he attained the position of Senior Manager Communications and External Relations in 2019. Folks join be to congratulate one of our own.
OUR SOURCES: GSE/GFIM/B OG/CS D
The Ghana National Petroleum Corporation (GNPC) CEO has called for concerted action by African states for the development of an African strategy to meet the continent’s energy needs.
Opoku-Ahweneeh Danquah, who is attending the 2023 Africa Development Conference (ADC) at Harvard University, USA, explained that rather than the absence of policies, the major factor mitigating a common energy strategy in Africa is the lack of political will to implement a coordinated continent-wide framework.
“Indeed, an assessment of Africa’s situation will reveal that there currently exists a policy overkill, with each country holding diverse positions on how to advance the continent’s energy agenda,” he said, among other things.
“As important as it is to pull each other along in the attainment of our energy goals, progress is hampered by the fact that Africa remains a huge continent with di erent coun-
tries espousing fragmented ideas on how to meet the energy needs of our respective countries,” he added.
To circumvent this challenge, Mr O-A Danquah called for greater collaborative e ort amongst di erent countries in streamlining energy blueprints, as there currently are too many moving parts with varying strategies being implemented by di erent governments and administrations.
He stated further that, while there’s the need for African countries to take the lead with clear pathways and policies, actual success will only be realized if bold actions are taken to back them.
Elaborating further, the GNPC CEO highlighted Ghana as one of a few countries, south of the Sahara, on track to achieve full access to electricity and is also frantically harnessing its natural gas resources to power homes and industries over and above what pertains in many other African states.
Ghana can therefore be held up as an example of a country
with a clearly de ned energy direction, that can be copied by others because it is yielding results.
The Vice President, Dr. Mahamudu Bawumia who was the guest speaker at the event shared his views on the broader theme of reimagining Africa’s growth on our terms. He indicated that at the heart of this vision is the transformative power of technology. In his view, the greatest bane to the development of Africa is our inability to solve the basic problems of the absence of a unique identity for our population, functioning property address systems, nancial inclusion, payment systems, e cient public service delivery, etc. that underpin our economic activities.
Vice President Dr Bawumia intimated “For many years after independence we have been trying to transform our economies without data and transparent systems. Without data and systems African countries cannot participate in the
fourth Industrial Revolution”.
According to the Vice President, for Africa to realize it’s full potential and set itself apart, it is important Africans broke the shackles of an impossibility mindset and embrace the mindset of possibility.
The two-day event which ended on Sunday 16th April 2023 was on the theme “Reimagining Africa’s Growth On Our Terms,”.
The 2023 ADC, which is in its 14th year at Harvard University, o ers a platform for facilitating global discourse on the primary issues of Africa’s development. The conference, designed to support Africa’s expedited structural transformation, brings together in uential players to discuss and share progressive policies and practices and enhances partnerships between governments and investors in rebranding and reshaping Africa in the international development arena.
As part of his e orts to promote the coordination of intra Africa trade among African Investment Promotion Agencies, the CEO of Ghana Investment Promotion Centre (GIPC), Mr Yo Grant, will be participating in a round table discussion on the theme “ Building Synergies in Investment Promotion and Facilitation: The AfCFTA Protocol on Investment” at the ongoing AfCFTA Business Forum in Cape Town, South
Africa.
The session will take a deep-dive into the provisions in the protocol on investment related to promotion and facilitation, and their relevance to IPAs, especially within the context of the Pan-African Trade Investment Agency, established within the protocol to assist State parties in the promotion and facilitation of investments in collaboration with exist-
ing national and regional Investment Promotion Agencies and other relevant stakeholders.
The AfCFTA Business Forum organized under the patronage of the Government of the Republic of South African is intended to enable the private sector to unlock trade and investment opportunities presented by the AfCFTA in order to boost trade.
The forum brings together African global business executives, strategic investors, nancial institutions, investment promotion agencies, business councils, chambers of commerce, multinational corporations, Africa women and youth business organizations, as well as Heads of State and Government.
Story continued from page 11
Mr K.T. Hammond has been visiting some Agencies under the Ministry of Trade and Industry as part of his rst week in o ce.
According to the minister, who admits that the ministry is a very technical one, the visitation is part of e orts to make him appreciate at rst hand, the structure and internal workings of the agencies, programmes and activities they are currently undertaking, challenges being encountered, and how his leadership can best aid the successful implementation of their mandates.
The minister, who was accompanied by the Chief Director of the Ministry, Mr. Patrick Yaw Nimo, rst visited
the Ghana Enterprises Agency, the agency responsible for implementing policies and programmes to nurture and spur the growth of micro, small and medium scale enterprises.
He commended the management of the agency, especially its Chief Executive, Mrs. Kosi Yankey Ayeh, for coming up with attractive programmes such as the “Young Africa Works Programme”, “Enterprises Development Project”, YouStart”, among other programmes which have been able to attract funding from development partners such as the World Bank, among others and thus taking some nancial pressures from central government.
At the Ghana Standards Authority, the minister entreated management to create a congenial and people-centered environment that will encourage sta to feel at ease in coming to work so as to be able to give o their best. He also called on them to ensure that proper standards are put in place and enforced for Ghanaians to get value for money for products purchased, and also to enable Ghanaian companies take advantage of opportunities such as the African Continental Free Trade Area Agreement.
The minister also visited the o ces of the Ghana Free Zones Authority, the Ghana International Trade Commis-
sion (which aims at addressing unfair trade practices such as dumping, and providing appropriate remedies and sanctions where necessary).
His last point of call was the National Coordination O ce of the African Continental Free Trade Area that seeks to provide the needed assistance to Ghanaian companies to gain market access to African markets, especially as Ghana has invested heavily to be able to host the secretariat of the continental trading body. Later in the day, the minister met with some companies under the government’s agship One District, One Factory programme to help provide solutions to some challenges being encountered by the speci c companies.
Transformative change is underway in the African automotive industry as trade begins under the African Continental Free Trade Area (AfCFTA), a new report by the World Economic Forum has indicated.
The continent’s auto industry, valued at $30.44 billion in 2021, is expected to grow to $42.06 billion by 2027 — a nearly 40% increase in value. According to the report titled "a New Era for Global Business and Investment in Africa", much of this growth can be serviced by local companies within the newly established free trade area.
Under the AfCFTA, over 1.3 billion people will be connected into a single market. For the automotive industry, that’s a signi cant opportunity.
International companies have found success in the automotive industry by partnering with African countries, signaling that the automotive sector is ripe for new and increased investment strengthened by the AfCFTA.
Across the continent, there is an average annual demand for 2.4 million motor cars and 300,000 commercial vehicles. This domestic demand — which is rising due to the continent-wide increase in
disposable income, strong growth of the middle class and rapid urbanisation — is currently being met primarily by imported used vehicles.
However, domestic production has also been growing by an average of 7% annually over the past few years. Today, Morocco and South Africa are leading the way as major players in the automotive sector, making up 80% of African exports, with Algeria also experiencing rapid growth.
The AfCFTA unlocks several opportunities for African and global businesses in the automotive industry to seize, building upon strong foundations in a new era of frictionless African trade.
African automotive manufacturers will bene t from all the advantages of economies of scale; essential for the competitive manufacturing of automotives.
Reduced tari s across the continent for inputs like aluminum from Mozambique or rubber in Cote d’Ivoire will mean the African industry as a whole becomes more dynamic. The AfCFTA’s rules of origin will also help set common thresholds for value-added levels, and if these are progressively harmonised across regional communities, these Story continues from page 13
more general and co-equal rules will help stimulate trade.
The continent’s leadership is actively working towards improving the investment environment for the automotive sector speci cally. There is signi cant political will by African governments and private sector players to develop automotive regional value chains because of the sector’s historic contribution to industrialisation.
Afreximbank, for example, and the African Association of Automotive Manufacturers are working together to support the industry by helping harmonise automotive standards, developing a focused training programme for the public and private sectors and providing nancing to industry players across the value chain, with Afreximbank committing $1
billion to the industry through direct nancing and partnerships.
Sustainability and the global ght against climate change also stand to bene t from the new trade area. Africa could be a key region for promoting sustainable mobility by harnessing renewable energy as demand for electric vehicles and motor vehicles grows.
Electric vehicles currently make up less than 1% of sales in South Africa, but demand is growing across the continent as some of Africa’s main trading partners have banned internal combustion engine vehicle sales, e ective as early as 2035. Already, there are pilot projects for sustainable vehicles in Rwanda, Egypt and South Africa, and e-mobility startups have emerged across the continent. Africa has a great wealth of the natural resources that are key raw materials for modern vehi-
cles, and several countries have their own procurement markets for materials such as copper, platinum, cobalt, bauxite and lithium — essential materials for the suite of new technologies required to reach net-zero. There is also a huge market for motorcycles in Africa — especially in west, east and north Africa — as well as electric two-wheelers, meaning more opportunities for using domestically produced inputs in new markets by leveraging AfCFTA preferences.
Case study: Volkswagen’s success German auto giant Volkswagen, already a key player on the continent, has recognised the potential of the AfCFTA to catalyse local production of automotives and meet local demand.
To date, the company has successfully established local assembly operations in Kenya, Rwanda and Ghana as well as two wholly-owned subsidiaries in Rwanda
and Ghana.
The company attributes its success in Africa thus far to its collaboration with African governments in developing and implementing automotive policies in their respective countries, including South Africa, Morocco, Tunisia, Ghana, Egypt and Kenya.
Volkswagen recognises that the increase in local manufacturing requires di erent levels of investment and depends on consistent, enabling industrial policies with access to local markets — which it sees as a major bene t of the AfCFTA.
The key industry trends reviewed here and the opportunities opening up as a result of the AfCFTA, coupled with Volkswagen’s experience of success, provide a powerful case for new investors to move into the automotive sector and thus help drive and transform economies across the continent.
Donewell Life Company Limited has unveiled three new a ordable products in response to the growing needs of its customers and the current economic realities.
These ground-breaking Life Insurance products focus on the nancial well-being of Ghanaians, aimed at growing their money by investing small and
protecting individuals and families against nancial di culties associated with death or critical illness.
Speaking at the launch, the Managing Director, Eric Ato Botchway indicated that these new products will contribute to increasing insurance penetration in Ghana which is currently below 2%.
Besides insurance penetration, the Managing Director explained in his speech that the a ordable nature of these products represents timely intervention by Donewell Life in providing peace of mind, a convenient way to show last respect to our family on their demise and additional income for dependent amidst the ongoing economic hardship.”
Jonathan Sam, Head of Distribution said in the interview that the social good these products will do for Ghanaians cannot be de-emphasised and further articulated that such unparalleled products are aimed at assisting those who are not necessarily high-income earners, but have dreams and aspirations like everyone else, to achieve future goals that require lump sum and nancial prudence.e
J anua r y 20,202 3
April 6, 2023
J anua r y 20,202 3 April 6, 2023
China's Shenzhou-15 mission crew members conducted their fourth extravehicular activity (EVA) on Saturday, according to the China Manned Space Agency (CMSA).
Fei Junlong and Zhang Lu, together with Deng Qingming who worked inside the space station to support his crewmates, collaborated to pull o all set tasks. Fei and Zhang have
since safely returned to the Wentian lab module.
The Shenzhou-15 crew set a new spacewalk record among Chinese astronaut crews.
During the EVA, the three astronauts completed several tasks, including the extension pumps installation and the cross-cabin cable installation and connection, making prepa-
ration for future science experiments in space.
In addition, a Long March-7A rocket has been transported to the Wenchang Spacecraft Launch Site in south China's Hainan Province on April 13. The rocket will undergo assembly and test with the Tianzhou-6 cargo spacecraft, aiming for a launch in May, the CMSA said earlier.
The launch of the Tianzhou-6 will be the rst mission after China's manned space program entered a phase of application and development.
China has completed 11 EVAs in the last four manned missions since the Shenzhou-12 mission in 2021..
build the right skills and capabilities of local procurement professionals.
GIPS has been part of Ghana's procurement and supply chain history for over ve decades.
According to the President of GIPS, Simon Annan, the Institute is expected to focus on key priority areas for the next three years: Ensure the passage of a Procurement Practicing Bill into law that will regulate the procurement practice in Ghana, Position and build the GIPS brand to become a profession of choice.
students of the Procurement and Supply Chain dedicated to promoting a high standard of integrity and accountability in the practice of the profession in Ghana.
The Institute was formed on 10th June 1981 as the Ghana Institute of Purchasing and Supply. This name was changed on the 5th May, 2014, to the Ghana Institute of Procurement and Supply to accord with the strategic vision of the Institute.
The Ghana Institute of Procurement and Supply (GIPS) have set its sights on pushing for the passage of passage of a Procurement Practicing Bill into law.
According to o cials of GIPS, the Procurement Practicing Bill
when passed will regulate the procurement practice in Ghana.
It is also tipped to be a game-changer for the procurement practice and the o ering of its sophisticated digital learning platforms to help
Others are to; Increase the GIPS membership base and provide value to its members, facilitate partnerships with academia and industry within Ghana and beyond, and strengthening the institution through systems and structures.
The object of this noble Institute is to serve as a central organization for professionals, practitioners, and
As part of its annual program, the Institute is organising an induction ceremony on April,25 2023 at British Council hall in Accra, to admit new members and confer Distinguished, Honorary, and Fellowship status on procurement and supply chain leaders who have demonstrated zeal, passion, and resolute commitment toward achieving the GIPS core mandate.
The theme is Shaping the future of procurement and supply chain through
A new book outlining current trends and changes regarding the future of work was recently launched at Miklin Hotel in Accra at a very impressive event.
Dr. James Rajamani, the chairman for the occasion and Group Chief Executive O cer for Kingdom Exim Group of companies said “the future of work conversation must excite everyone”, he noted this book is very timely and a powerful piece to behold by all as put together by the author – Baptista S. Gebu.
The Special Guest of honour
Mr. Victor Yaw Asante, C.E.O and M.D of FBN Bank who doubles as the District Governor for Rotary International District 9102 congratulated the author for putting together such a wonderful book.
He emphasized that indeed the future belongs to those who are ready and prepared for change. He encouraged all and sundry to get copies of the book to get abreast with the information contained in the book.
Dr. Welbeck, Hon. Peter Mensah – the DCE for Techiman North, Mr. Samuel Segbe aFounder of Trans Africa College, District Governor Nominee Designate Nana Yaa Siriboe of Morning Star School, Past Assistant Governor Fredi Asiedu, Mrs. Lucy Owusu –
Darko former Deputy Country Representative of OIC International, Elder Wallace Danquah the District Elder for Tema North, Juliet Amoah the Country Director of EPL Ghana, some alumni of Methodist University, ASMMOSS, Rotarians, the business and diaspora communities as well as Civil Society Organizations were some of the dignitaries present.
The rst copy of the book was sold for GHC 10,000 which was purchased by the chairman of the occasion representing the Kingdom Exim Group of companies which is the leading West African based quality focused Agro products exporter and supplier with its head o ce in Tema-Ghana with other branches in Nigeria, Ivory Coast, Gambia, Senegal, Tanzania, Namibia, Togo and Benin.
The author of the book said, what motivated her to put together this book was the fact that many jobs are quickly becoming obsolete and the situation will get worst with the ever-increasing presence of Arti cial Intelligence per research.
This may lead to many losing their jobs and many more also being created for those ready for the right skill set.
Considering Ghana and by extension Africa is part of a global village and cannot be detached; it’s important to
understand the up-and-coming changes and adapt as everyone needs an informed understanding on what individuals, businesses, governments and other organizations need to know about how work, the workforce and the workplace is ever-changing, and how we can prepare for those changes, make decisions that will enable our organizations to thrive today while we prepare for the future.
The book forward was provided by notable professionals including but not limited to Dr. Stella Agyenim Boateng of VRA, Daniel Domelevo former auditor general of Ghana now with the Global Fund, Kojo Amissah –godfather of HR in Ghana, Senyo Adjabeng, Dr. Bernice Welbeck of the Ghana Labour Commission, Eng. Abir Leheta –Forbes magazine’s 100 powerful business women in the Middle East recognized in 2020 and 2023, DG Victor Yaw Asante of FNB Bank Ghana, Dr. Barada of Sri Sri University, Dr. Yousrey El-Sharkawi the Chairman of the Egyptian African Business Association, Mawuli Zogbenu of the Ghana Insurance Commission and author of the useless column among others.
Copies of the book can be acquired by contacting the author, on amazon and other portals. All request should be
sent to bap.tista@outlook.com /WhatsApp |Telegram |SMS to +243 -213 -313 / +262-213-313 or via social media @Sarahtistagh for Facebook and Instagram, @Sarahtista for Twitter and Baptista S. Gebu on LinkedIn.
The author of the Book is the Chief Executive O cer of FoReal HR Services, and also authors the future of work capsules, the Africa We Want Series with Baptista as well as the Giving Capsules. She is the District Chair for Rotary International District 9102 Vocational Training Teams, and represents Women in Rotary International in country as the Ghana Coordinator.
Baptista is the Ghana Representative for the Egyptian African Business Association. She is a Hybrid professional, a researcher, proli c writer with several publications to her credit, an in uencer, public speaker and skilled Human Resources professional with a broad generalist background. She is a member of the Society for Human Resource Management (SHRM) and a Volunteer for the SHRM Ghana Forum as well as the YALI Network.
