Business24 Newspaper 05 April 23

By Benson Afful

AGI warns of dire consequences for industry over new taxes

The Association of Ghana Industries (AGI) says it is disappointed at the passage of three new revenue bills by Ghana's parliament last week.

The tax bills-- Excise Duty, Growth and Sustainability Levy and Income Amendment Bills-- which were passed late on Friday before the adjournment of parliament sparked resistance from the minority in parliament but government maintained the bills were needed to aid the government’s quest to facilitate the Board Approval for the US$3 billion International Monetary Fund (IMF) Programme sta -level agreement.

The AGI in a statement accused the government of imposing a tax regime that does not support local production and formal business operations.

They were also disappointed

policies that have a negative impact on businesses. The association said although the AGI made submissions to the bills, their input did not receive the consideration they expected.

The international and domestic bond markets are shut for the nancing of government programmes, forcing the government to rely on Treasury Bills and concessional loans as the primary sources of nancing for the 2023 scal year.

Government in justifying the introduction of the taxes said they are critical for recovery from the current economic crisis.

Ghana is battling its way out of a generational economic crisis by hiking interest rates at record speeds, cutting spending, and restructuring its debt as a condition to

By Benson Afful

However, the AGI reacting to the passage of new taxes said its members are already struggling with in ation at 52%, VAT at 15%, water tari increments of about 172% for the beverage sector, electricity tari at 29.9% for the industry, policy rates at 29.5%, and an unstable foreign exchange regime.

The AGI warned that the imposition of new taxes on top of these existing issues will lead to a contraction in manufacturing and other related business activities.

The Association called on the government to engage in dialogue with them on how to incentivize local industries to avoid the negative consequences of these policies.

It said it would continue to engage with the government on such scal policies to bring positive reviews in subsequent national budget statements.

Oil prices surge after surprise move to cut outpu

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obtain support approval from the IMF's Executive Board.

However, the AGI reacting to the passage of new taxes said its members are already struggling with in ation at 52%, VAT at 15%, water tari increments of about 172% for the beverage sector, electricity tari at 29.9% for the industry, policy rates at 29.5%, and an unstable foreign exchange regime.

The AGI warned that the imposition of new taxes on top of

these existing issues will lead to a contraction in manufacturing and other related business activities.  The Association called on the government to engage in dialogue with them on how to incentivize local industries to avoid the negative consequences of these policies. It said it would continue to engage with the government on such scal policies to bring positive reviews in subsequent national budget statements.

Tony O. Elumelu joins US Vice President Kamala Harris at the Gender Inclusion in the Digital Economy Summit in Zambia

The Group Chairman of United Bank for Africa (UBA) and Heirs Holdings, the leading Pan-African investor, Tony O. Elumelu, CFR, will be traveling to Zambia at the invitation of United States Vice President, Kamala Harris.

Mr. Elumelu will join other global leaders at the inaugural meeting of the Steering Committee of the United States Government’s initiative “Gender Inclusion in the Digital Economy” taking place on Saturday, April 1, 2023, in Lusaka, Zambia. His attendance represents a further recognition of his advocacy of the transformation of Africa, through a dynamic privatepublic sector approach, made most recently at the US-Africa Leaders’ Summit, held in Washington D.C, hosted by President Biden in December 2022.

Mr. Elumelu welcomes the increased engagement of the US Administration with Africa, a partnership that he has stressed should be based on equity and mutual respect. As

one of Africa’s leading entrepreneurs, Mr. Elumelu sees many common values, between the entrepreneurially driven US economy and the opportunities in Africa, not least in creating the enabling environment to support Africa’s highly entrepreneurial youth. He is an ardent advocate of Africapitalism, his belief that Africa’s economic renaissance will be catalysed by the collaboration between public and private sectors, and that the private sector must create social good, as well as economic wealth.

| Africapitalism

Africapitalism is the economic philosophy developed by Heirs Holdings Chairman, Tony O. Elumelu, CFR, and is predicated on the belief that Africa’s private sector can and must play a leading role in the continent’s development. It is a call-to-action for businesses to make decisions that will increase economic and social wealth and promote development in the communities and nations in which they operate.

It is “Africanacity” that drives us

three years in Ghana as a transformative brand and yet its impact is mammoth. Whilst not discounting the contribution of more than a century-old heritage of the erstwhile Barclays brand, the other key contributor is the distinguishing values of commitment, dedication and responsiveness towards its customers. These traits have found expression in the word, “Africanacity”, a term coined by the bank to re ect its true character and strength. Africanacity always raises eyebrows. “Is it a word?” “What does it mean?”, you’d usually hear people ask.

By Nana Essilfuah Tamakloe

nation Absa bank nds admirable:

I LOVE BANKING. Every day, I remain fascinated by its models and assumptions. In fact, as I sit here on the third oor of our Head O ce on the main Accra high street, I drift into re ection mode. Banking has come a long way in Ghana since the days of colonialism. Having undergone so many iterations and transformation, this “noble business” is undoubtedly the bedrock of our economy.

Thanks to the advent of digital technology, a drive for a higher level of thinking by practitioners has become even more prevalent. At every tick of the clock, we are caught in an interesting cycle of racing above and beyond, to meet the needs of our customers. That kind of adrenaline is priceless.

I remember when I was joining Absa Bank (erstwhile Barclays Bank) years back. I was lled with some trepidation and uncertainty. Coming from an FMCG background, and as anyone who works in that sector will tell you, it was a bit of hesitation

for me. The FMCG business has a way of growing on you and drawing you in. However, I wanted a new adventure, and my curiosity played a role in nally switching to Absa. Today, when I look at the systemically important role played by Absa Bank in Ghana’s nancial services sector, I feel proud to be a key contributor.

Overall, banks play a huge role in any economy. They enable people in their everyday lives to buy goods and services, to save and invest, to buy homes and grow their wealth. Banks help businesses to set up, to expand and to trade locally and internationally. We help economies to prosper, to build infrastructure and to transform the lives of citizens. By doing these things in the right way, banks, like Absa, have become an extraordinarily powerful force for good throughout the economy.

The fact is, Absa is only

From a pure perspective of brand expression, Africanacity truly stands for the remarkable way in which the African (from all walks of life) distinctly always nds ingenious ways to overcome obstacles and get things done. Both in Ghana and across Africa, Absa has consistently existed to empower Africa’s tomorrow, together, through one story at a time. These stories are re ected in the experiences of our customers and clients, in their engagements and transactions with us. It is such a powerful expression of the relationship a bank must demonstrate to its key stakeholders consistently.

We have recently revived our “Africanacity” communications campaign once again, through videos and other communication materials across a multiplicity of channels, and the impact is astounding. We have a lot to be proud of as Africans, and Ghanaians, for that matter and this campaign is really highlighting the essence of our humanity.

Yes, we are not in steady states as an economy in Ghana. The recent macroeconomic challenges, the in ationary pressures, the depreciation of the cedi, debt instability, are all clear and present issues, However, it is in times like these that the spirit of the Ghanaian is awakened to nd unique ways to make things possible. It is this spirit of ingenuity that pushes a bank like ours to always nd ways to elevate and empower individuals and businesses to move to the next level. The following stories illustrate in clear detail, the kind of determi-

BERNICE DAPAAH, a heroine in one of the Africanacity videos currently circulating on TV, had a rough upbringing. In the neighbourhood where she grew up, children had to trek long distances on foot to go to school. Having experienced this at rst hand, she was determined to do something about it. So, she used her wit and ingenuity to start the rst bamboo bicycle – a rare but crucial transportation tool for these children to use for school. What started very small and under an obscure shed in her community, has now blossomed into a very large bamboo bicycle business employing many people, including women.

PAUL COFFIE is another interesting entrepreneur, whose exploits are also a strong feature in one of our Africanacity videos. Having come from an environment where waste management was a serious challenge, Paul devised a way to utilise plastic waste in building houses for people to live in. After years of fervent practice and study, Paul is now applying his creativity to solve Ghana’s age-long housing de cit and giving people a place to lay their heads.

With a nancial partner like Absa bank standing beside these transformational entrepreneurs, Bernice and Paul can continue blazing the trail and lead by example on the African continent. It is really a true re ection of what Africanacity is all about. The stock in trade of banks is cash but it is much more than that. Our customers are the reason we are in business; without them, we have no business. Every day, when we come to work; when we respond to their needs; take decisions that make their engagements with us convenient and easy, we are incarnating the concept of Africanacity as a strong virtue of belief, change and progress on our continent.

The writer is the Marketing and Corporate Relations Director at Absa Bank Ghana

Ten Years A District: 10th District Training Assembly & Conference Accra 2023

district was District 210 (later changed to District 910) with twelve countries and thirty- ve clubs.

When a lonely bachelor in a new city meets with three friends and they agree to form a club with a simple motive “a very simple plan of mutual co-operation and informal friendship such as all of us had once known in our villages.”

The world's rst association of service clubs was formed on 23rd February 1905 and blossomed into Rotary International over 118 years ago. Although the early focus was on fellowship and business networking, soon elements of service was incorporated with a place of convenience in Chicago.

Gradually Rotary spread within the USA and in 1910 there were sixteen Rotary Clubs. Having crossed the Atlantic to Europe then to India and Asia, Rotary nally reached the African continent (South Africa) in 1921. It nally reached West Africa through the French speaking countries (Dakar, Ivory Coast and Cameroon). Ghana was the rst English speaking country to have received Rotary in 1958.

Today Rotary International (R. I.) can boast of over 46,000 clubs worldwide and for easy management of these clubs they are grouped into districts. Rotary International District 9102 is made up of Ghana, Togo, Benin, and Niger with over 3,000 Rotarians. A bit of history ... once upon a time this

R. I. Board then decided to add the number zero (0) to all existing districts worldwide, thus altering D910 to D9100. District 9100 constituted the larger part of the West African Sub-Region of Africa, south of the Sahara, and is made up of fourteen countries: Benin, Burkina Faso, Cape Verde Islands, Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Senegal, Sierra Leone, and Togo. Indeed, D9100 was at the time the largest geographic district in the Rotary world and therefore was redistricted into District 9101 and 9102.

Every year, Rotarians in each district come together at conference. This annual event has been set aside by Rotary International for each Rotary District in the world to highlight the operations of the district, discuss its achievements and challenges and facilitates major leadership and training events.

The conference includes training and breakout sessions to give Rotary information and new ideas for club o cers, directors, and key committee chairs.

There is also a presentation of

the state of the district; a review of the new RI President’s theme and goals for the coming Rotary year by the incoming District Governor; a presentation of district goals and objectives and plans are developed for its implementation.

Rotary International District 9102, for the last time, will welcome Rotarians and partners in service to its 10th annual District Training Assembly and Conference (DTAC) 2023, to be held at the Accra International Conference Centre from April 11 to 15, 2023. The theme for this year’s conference is “Beyond Imagination” which ties in the annual theme “Imagine Rotary.”

The Rotary International President Special Representative, Vice Rotary International President Nicki Scott will attend this conference, bringing inspiring messages from Rotary International. An estimated number of one thousand (1000) participants from the district and other parts of the world will appreciate a welcome address from the Greater Accra Regional Minister Hon Henry Quartey and inspirational talks from guest speakers Nana Aba Appiah Amfo, Vice Chancellor of the University of Ghana, Isabel Boaten, partner at AB & David Ltd and Nakeeyat Dramani Sam, an environmental advo-

cate & poet.

Interesting to note, this year will be the last DTAC for District 9102 since the district has to be redistricted again due to size into District 9104 (Ghana) and District 9103 (Benin, Niger & Togo) from 1st July 2023.

The e orts of Rotarians in District 9102 to charter new clubs, increase membership, develop leaders, and increase our portfolio of humanitarian service projects has contributed immensely to Rotary initiatives, chalking many successes worldwide. So, the new Districts (9103 & 9104), with their new District Governors and their teams will work to strengthen clubs, promote membership diversity and to place the new districts high on the map of Rotary International.

Other events at this 10th and the last DTAC are District Governor’s Akwaaba Cocktail, Rotary Foundation Lunch, the District Governor’s Award and Gala with the main performing artist Samini.

With the rst District Governor of District 9102, Winfred A. Mensah, as Conference Chair, the 10th and last District Governor for District 9102, Victor Yaw Asante, has indicated that the DTAC: Accra 2023 will be exciting, educating, entertaining and a platform for business networking for all Rotarians.

Gov’t on track to repairing economy -Ntim

The National Chairman of the ruling New Patriotic Party (NPP), Stephen Ayesu Ntim has said the government is on track to nding solutions to the country’s current economic di culties.

The International Monetary Fund (IMF) is poised to lend Ghana $3 billion as the African nation grapples with its worst economic crisis in a generation.

Ghana's determination not to seek the fund's help for a 17th time crumbled in July after soaring in ation spurred widespread street protests.

Addressing his maiden press conference since assuming the chairmanship position of the NPP in July 2022, in Accra on Tuesday to respond to the NDC's so-called True State of the Nation Address, Mr. Ntim conceded that the party is not particularly happy about the level of in ation today which has a ected the economy, but he added that it is a global problem.

“We are nding solutions to our current economic di culties. We shall x the economy. We have done it before in 2001 and 2017; we will x the economy again. We did what needed to be done to save lives; now we are tackling the economy, and with the kind support of our hardworking citizens, we shall x this

By Eugene Davis

one too.”

Further Mr. Ntim, rea rmed that the current crippling economic crisis is due to the impact of Covid-19 and the e ects of the Russia-Ukraine War and not the incompetence of the economic management team as propagated by the opposition National Democratic Congress.

“The plain truth is that this government has managed the economy diligently and well. The hardships we are experiencing in Ghana are being experienced everywhere because of the Covid-19 pandemic and the Russia-Ukraine War. Workers in some of the world’s biggest economies are demanding salary increases due to historic global in ation.

“It is happening in—the United Kingdom, France and Germany. In the United Kingdom, I was told a couple of weeks ago that they had to ration vegetables and cooking oil. Can you imagine rationing pepper in Ghana? The Vice President of the United States, Kamala Harris, con rmed the impact of Covid-19 and the Russia-Ukraine War on the United States economy and how dicult the e ort to rebuild has been.”

He also drew comparisons between the NDC and the NPP by way of performance between 2013 – 2019, explaining that before Covid-19 and the War, the NPP government recorded an impressive 7 percent average GDP growth for three scal years (2017-2019).

“Had Covid-19 not happened, Ghana's economy would have continued to grow into 2020, and the story of Ghana's economy today would not be one of hardship but of growth and prosperity.

The NDC-Mahama administration performed poorly.

Between 2013 to 2016, the NDC returned a mournful 3.9 percent average growth. GDP declined consistently over that period (2013-2016). Somehow, those who could not manage Ghana's economy in a relatively stable global economic environment suddenly claim they have magic wand to turn the fortunes of Ghana around in this volatile global economy.”

On the size of government’s ministers, Mr. Ntim indicated that it is not true that the government has ignored calls to reduce its size. “Instead, the government has been listening to Ghanaians, establishing a more robust control mechanism to manage expenditure

while maintaining a dynamic team of ministers and appointees to deliver on its mandate.”

He also urged the rank and le of the NPP to arise and mobilise behind the government to defeat the onslaught of the NDC propaganda.

Chairman Ntim also advised the NDC to desist from the habit and strategy of deceit in its quest for power. To him, such methods are often short-term but have long-term rami cations for democracy, public condence, and, not least, the global perception and embrace of the country.

The ruling NPP led by its leader, President Nana Akufo-Addo was awarded a second four-year term in o ce in December 2020 election, following a tightly contested vote against his predecessor and old rival John Mahama of the National Democratic Congress.

The NPP has alternated in power with the NDC since 1992, giving Ghana a reputation as a robust democracy in an unstable region where election disputes in December 2020 prompted fears of a democratic backslide.

GCBL releases first quarter progress report as it re-ignites Young Business Leaders Program

The Ghana National Chamber of Commerce and Industry (GNCCI) has said that the recent increase of the policy rate to a historical high of 29.5 per cent will worsen the plight of businesses in the country.

The chamber expressed concern that the continuous increase of the policy rate from 14.5 per cent to the current level was alarming and would have detrimental impact on the business climate in Ghana.

A statement by the chamber stated that in the face of the challenges business have encountered over the past few years, including supply chain disruptions, reduced demand, cash ow challenges, and the recent upward adjustment of utility tari s, the posture adopted by the Central

Bank does not augur well in sustaining a conducive business environment.

“Majority of businesses including GNCCI members are struggling to break-even in their business operations which is critically undermining their competitiveness, with some manufacturing companies already siting production units outside Ghana to enjoy cheaper inputs.

“The GNCCI holds the view that the recent hike in the monetary policy rate will exacerbate the challenges confronting businesses in Ghana, as it will result in higher borrowing costs and reduced investment, thereby hampering growth and employment prospects,” the release noted.

The release also noted that the

policy rate would also have adverse e ects on consumer spending, exchange rates, and in ation expectations, consequently dampening the business climate in Ghana.

Furthermore, it said the proposed Excise Duty Bill and the Growth and Sustainability Levy Bill aimed at boosting government revenue would weigh heavily on businesses, posing signi cant obstacles to their performance, resilience, and sustainability.

In light of these concerns, the GNCCI advocates for policies that support businesses and help mitigate the negative impact of policy rate increase.

The Chamber’s proposals include providing targeted support for SMEs through nancial aid and access to

credit, as well as implementing measures that promote economic growth, such as increasing investment in infrastructure and other sectors.

The release, which was signed by the President of the Chamber, Clement Osei-Amoako, said importantly, macroeconomic policies must aim at strengthening the micro economy and not weakening it

Furthermore, the Chamber believes that Ghana’s economic management challenges were partially attributed to an overemphasis on macro prudential programmes, and instead, the way forward lied in prioritising microeconomic diligence by implementing competition laws, structures and path-walking, value addition, and export development,” it’s the release stated.

Emirates and United activate codeshare partnership to enhance connectivity to the US

through trade channels including travel agencies.

Emirates and United have activated their codeshare partnership, allowing Emirates customers including Ghanaians, to enjoy easier access to an expanded choice of U.S. destinations. Starting today, Emirates customers will be able to y to three of the

nation's biggest business hubsChicago, Houston or San Francisco - and connect easily to an expansive network of domestic U.S. points on ights operated by United.

Tickets are available to purchase from today on www.emirates.com as well as

With the launch of the partnership, Emirates customers heading to the U.S. can now look forward to access to more than 150 U.S. cities in the United network, via the three gateways. Similarly, Emirates customers in the U.S. planning trips to Dubai and beyond have a myriad of choices and can utilise United’s services to easily connect to Emirates operated ights bound for

Dubai, via Chicago, Houston or San Francisco. The world just got bigger for U.S. travelers journeying to Emirates’ extensive network beyond Dubai, including many unique destinations across the Middle East, Africa, Central Asia and the Indian subcontinent.

On the ights, passengers can enjoy Emirates’ award-winning services and a host of convenient travel bene ts a orded by the agreement. Travellers

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with itineraries on Emirates’ codeshare ights can plan their entire trip on a single-ticket and take advantage of the airline’s baggage allowance, in addition to convenient bag check-through to the nal destination.

Emirates is also enabling its Skywards members to earn and redeem miles on all ights across United’s worldwide network.

The partnership unlocks a host of popular destinations accessible from Emirates gateways such as Atlanta, Austin, Denver, Minneapolis and Phoenix. Emirates passengers planning trips to destinations such as Detroit, can y direct from Dubai to Chicago or Houston, and simply connect on a United ight to the nal destination, while enjoying the hassle-free ight bene ts. The reciprocal bene ts extend to passengers ying out of the U.S. using Emirates services to y to Dubai, with the same easy access from a vast network of domestic cities and connection at one of the three hubs.

Adnan Kazim, Emirates’ Chief Commercial O cer commented: “We are extremely delighted to activate this historic partnership with United and signicantly expand our footprint in the U.S. United’s vast network across the Americas will help us to o er more choice to our customer base from across the

globe, and meet demand from across segments including the leisure, VFR, corporate travellers and students who can now connect seamlessly to and from a broader network of more than 150 domestic points.”

Emirates and United have an interline arrangement that allows passengers to easily reach a wider choice of destinations in the Americas outside of the U.S. Emirates customers will be able to choose from dozens more destinations in Canada, Mexico, the Caribbean, and Central and South America, while also enjoying conveniences such as the simplicity of ight itineraries on a single-ticket and smooth connections via the three hubs (Chicago, Houston and San Francisco).

Emirates currently o ers services between its hub in Dubai and 12 U.S. cities, as well as ve points across Canada, Mexico, Brazil and Argentina. More opportunities, more rewards

Under the agreement, Emirates Skywards members can earn miles on ights while traveling across United Airlines’ international and domestic network. The partnership will also enable MileagePlus members to earn miles on select ights in the Emirates network when travelling from Newark (EWR) to Dubai (DXB) on United Airlines and onwards to select

destinations operated by Emirates.

The award-winning loyalty programme of Emirates and ydubai continues to o er its 30 million members worldwide exclusive privileges.

Emirates’ network of 17 points across the Americas includes U.S. destinations Boston Logan International Airport (BOS), New York’s John F. Kennedy International Airport (JFK), Los Angeles International Airport (LAX), Houston’s George Bush Intercontinental Airport (IAH), Chicago’s O'Hare International Airport (ORD), Washington D.C.’s Dulles International Airport (IAD), Seattle Tacoma Airport (SEA), Newark Liberty International Airport (EWR), Orlando International Airport (MCO), Dallas-Fort Worth Airport (DFW), San Francisco International Airport (SFO), Miami International Airport (MIA) and Orlando International Airport (MCO). Emirates also ies to Mexico City (MEX), Toronto (YYZ), Sao Paulo (GRU), Rio de Janeiro (GIG) and Buenos Aires (EZE).

About Emirates

From its global hub in Dubai, Emirates serves customers on six continents, providing high quality air transport services that facilitate tourism and trade. The airline has earned customer recognition for its industry-leading services on the ground and in the sky, delivered by a passionate workforce representing over 160 nations. Emirates operates the world’s largest eet of wide-body Boeing 777 and Airbus A380 aircraft, o ering spacious cabins and iconic in ight features such as its A380 Shower Spa and Onboard Lounge, and its ice  in ight entertainment system available in all seats across its eet, which has topped “best in sky” awards for 17 consecutive years. Emirates is committed to environmentally-responsible operations and focusses on three areas: reducing emissions, consuming responsibly, and protecting wildlife and habitats.  For more information, visit www.emirates.com

Huawei releases 2022 Annual Report: Steady operations, sustainable survival and development

Huawei released its 2022 Annual Report today. The company reports steady operations throughout 2022, having generated CNY642.3 billion in revenue and CNY35.6 billion in net pro ts.

Huawei continues to strengthen investment in R&D, with an annual expenditure of CNY161.5 billion in 2022, representing 25.1% of the company's annual revenue and bringing its total R&D expenditure over the past 10 years to more than CNY977.3 billion.

"In 2022, a challenging external environment and non-market factors continued to take a toll

on Huawei's operations", said Eric Xu, Huawei's Rotating Chairman, at the company's annual report press conference. "In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers. We also went to great lengths to grow the harvest – generating a steady stream of revenue to sustain our survival and lay the groundwork for future development."

Also present at the event was Sabrina Meng, Huawei's CFO. She noted, "Despite substanStory continues on page 9

Eric Xu speaking at the press conference

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tial pressure in 2022, our overall business results were in line with forecast. At the end of 2022, our liability ratio was 58.9% and our net cash balance was CNY176.3 billion. In addition, our balance of total assets reached one trillion yuan, largely composed of current assets such as cash, short-term investments, and operating assets. Our nancial position remains solid, with strong resilience and exibility. In 2022, our total R&D spend was CNY161.5 billion, representing 25.1% of our total revenue – among the highest in Huawei's history. In times of pressure, we press on – with con dence."

In 2022, revenue from Huawei's carrier, enterprise, and consumer businesses was CNY284 billion, CNY133.2

billion, and CNY214.5 billion, respectively.

Huawei is a strong proponent of growing together with its ecosystem partners, and believes that openness and collaboration lead to shared success. The company has continued to open up its platform capabilities across its HarmonyOS, Kunpeng, Ascend, and cloud portfolio, focusing on improving developer experience as well as enabling and supporting its ecosystem partners on all fronts. Huawei currently works with more than nine million developers and over 40,000 ecosystem partners to fuel ecosystem-based innovation and create greater value for its customers.

"2023 will be crucial to Huawei's sustainable survival and development," Xu noted.

"Plum blossoms tend to grow sweeter from a harsh winter's freeze. Today, Huawei is like a plum blossom. While it's true that we have considerable pressure ahead of us, we have what it takes to come out the other end – with opportunities to grow, a resilient business portfolio, a unique competitive edge, the enduring trust of our customers and partners, and the courage to invest heavily in R&D. We are con dent in our ability to rise

above any challenge that comes our way, laying a solid foundation for sustainable survival and development."

All nancial statements in the 2022 Annual Report were independently audited by KPMG, an international Big Four accounting rm. To download the 2022 Annual Report, please visit https://www.huawei.com/en/annual-report/2022

Obuasi Area Pemem hands over new male ward to Tweapaease Health Center

In line with the vision of the Church of Pentecost to transform the lives of the people in their communities, the men's ministry (PEMEM) of the church in the Obuasi area has commissioned and handed over a 15-bed capacity male ward to the Tweapaease Health center.

The Tweapaease Health center which is the only health facility serving about ten (10) neighboring communities has not seen any major facelift since it was commissioned in 2015.

By Sampson Manu

ty.

The transformation agenda

Apostle Boakye Agyarko reiterated the commitment of the church through their transformational agenda to change the lives of the people even as they admonish people to accept Christ and live a Christ-like life.

Observing a clean environment

The facility until the intervention from the Church of Pentecost had males and females sharing the same ward.

This however caught the attention of the Tweapaease branch of the Church of Pentecost who decided to save the situation through the Obuasi area men's ministry.

The new men's ward which cost GH 166,531.00 consists of 10-bed main ward, 4-bed side ward and VIP ward.

Speaking after the handing

over ceremony the Obuasi area head of the church, Apostle William Boakye Agyarko underscored the importance of the project saying it is in sync with the teachings of the Holy Bible which enjoin Christians to do good to all manner of people. He revealed that the Church saw it important to intervene to salvage the situation of men and women sharing the same ward, during routine evangelism by the District pastor Francis Wugban at the health facili-

The Obuasi area head talked about the essence of observing a clean environment as a means to prevent diseases. " The Church of Pentecost true to its resolve to inculcate unto the people the need to observe a clean environment has set aside the 3rd month of the year (March) to clean the environment. He therefore admonish members to observe a clean and healthy environment".

The Amansie Central District Health Director Ampratwum Oppong Ahmed lauded the church for coming to the aid of the health center. He described the facility as a welcoming relief saying the existence phenomenon of having men and women sharing a single ward became an albatross around the neck of personnel at the facility.

On challenges facing the Directorate in the district, Mr. Ampratwum cited the refusal of health personnel to accept Story continues on page 11

Sabrina Meng speaking at the press conference

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postings to the district as a major threat to healthcare delivery in the district.

" The perception out there is that the district is a deprived one hence personnel who are posted here refuse to come whiles those who accept postings nd it dicult to get accommodation due to the exorbitant rent charges", he said.

He however notes that, the Assembly is doing its best to add

up to the existing health infrastructure but appealed to central government and other groups and institutions to also intervene.

Oheneba Kwadwo Ntoso III, Bekwai Dwonsuahene lauded the Church of Pentecost for their pioneering role in assisting in provision of social amenities.

He added that the provision of male's ward for the Tweapaease Health center lends credence to

the impact the church is making on the lives of the people in the country.

" The Church of Pentecost is noted for providing prison facilities, hospitals, schools, boreholes, Police stations among others. This is a feather in the cap of the Obuasi area and on behalf of the people of Tweapaease, I say congratulations to you for these major feet”.

Parliament proposes Ad hoc Committee to reconcile arrears owed DACF   …as it approves GHc4.5bn for fund

By Eugene Davis

port of the construction, renovation and completion of MMDA o ces, Head O ce of the Births and Death Registry as well as court buildings and bungalows for the Judiciary. The DACF will also complete the construction of the Local Government Service Training School at Akomadan and the Institute of Local Government Studies at Madina and Tamale in 2023.

It is envisaged that the DACF would in the near future assist Parliament to construct a 50-bed hospital to cater for the health needs of Members and Sta of Parliament

Parliament has recommended an Ad hoc Committee to reconcile arrears owed the District Assemblies Common Fund (DACF).

This was contained in the report of the Committee of the Whole on the proposed formula for the distribution of the District Assemblies Common Fund for 2023.

Parliament before it adjourned on the wee hours of Saturday approved an amount of GHc4.5bn as the Proposed Formula for the Distribution of the District Assemblies Common Fund for 2023.

The report noted “The Com-

mittee of the Whole observed inconsistencies in the releases to the DACF for the year 2019 to 2022. It was therefore recommended that an Ad hoc Committee made up of the leadership and members of the committee on Local Government and Rural Development meet with o cials of DACF, Controller and Accountant General’s Department and Ministry of Finance to reconcile the arrears owed to the Fund.”

According to the report, an amount of Ghc379m has been allocated for

institutional support with 113.85m to cater for National Youth Programme.

An amount of GHc668.62m has been allocated towards National Projects, the allocation comprises; Education Policy Programmes, Special Projects, National Sanitation Support, Construction/Renovation of MMDAs and Other Buildings, and Construction of Courts/Residential Buildings.

Earmarked Projects

The report also reveals that the DACF has allocated an amount of GHc160m in sup-

Shortfall in Arrears

The Committee was informed that the O ce of the District Assembly Common Fund is owed an amount of GHc6.4bn as a result of non-release of allocations for the years 2019 to 2022. The Committee noted that an amount of GHc1bn and GHc1.5bn representing a shortfall in Common Fund releases for 2020 and 2021 respectively is owed to the Fund.

It was again noted that out of the allocation of GHc3.3bn earmarked for the Fund for the year 2022, the Ministry of Finance has released an amount of GHc1.17bn. However, out of the amount only a paltry sum of GHc300m has been paid to the O ce of the District Assemblies Common Fund by the Controller and Accountant General’s Department.

IPPs reject US$$1.3bn government debt restructuring proposal

gations and sustain our production of electricity”. According to them, the outstanding and overdue receivables from the Electricity Company of Ghana have reached a critical point, for which they cannot guarantee continuous generation in the coming months.

pliers for which they are already in default and accruing associated penalties”.

Independent Power Producers (IPPs) have rejected any idea of restructuring arrears of its members as part of the ongoing or any future debt restructuring programme.

In a letter to the Finance Minister, Ken Ofori-Atta, it said its members are rather prepared to engage with the government on payment schedules with regard to the arrears and other claims under the respective Power Agreements (PAs), in order to promote predictability of payment ows.

The government is said to owe the IPPs more than $1.4 billion dollars as of February 2023.

The IPPs advised the government to prioritize and make payments of the arrears in the next three weeks

to enable its members meet their debt obligations and sustain the production of electricity.

“We emphasise that our members reject any notion of restructuring their arrears/claims as part of the ongoing or any future debt restructuring program. Our members are prepared to engage with government on payment schedules with regard to the arrears and other claims under the respective PAs, in order to promote predictability of payment ows, while the energy sector reforms take hold to eliminate any accumulation of arrears going forward. We would like to advise that you prioritise and make payments of the arrears in the next three weeks to enable our members meet their debt obli-

“As indicated in your letter, our outstanding and overdue receivables from the Electricity Company of Ghana (ECG) have reached a critical point, for which we cannot guarantee continuous generation in the coming months. As of January 31, 2023, our members’ total receivables accrued is over the cedi equivalent of $1.3 billion. Nonetheless, our members in good faith have continued to honor their contractual obligations to ECG, which is not sustainable”. It added “we herein bring to your attention that some of our members are in default of their debt service obligations with some quarterly debt service obligations due from March 2023. Kindly note that our members cannot continue defaulting on their respective debt service obligations and sustain operations. Additionally, we wish to highlight that our members have accrued huge arrears with their sup-

It also described the Cash Waterfall Mechanism (CWM) which was meant to bring transparency and fairness in the disbursement of the power sector revenue as a failure, saying, most of the committee members are from the State-Owned Enterprises.

“The CWM committee is dominated by the representatives of the State-Owned Enterprises (SOEs), VRA, ECG, and GRIDCo, rejecting our proposal for IPs to be represented on the committee. The only information members receive are the bank credit alerts even though they are key stakeholders controlling over 50% of the market share. While we welcome the indication in your letter that review of the CWM will be part of the critical energy sector reforms, we emphasise that above-stated issues of transparency and governance of the CWM must be part of the agreed reforms and the Chamber duly represented on the CWM committee”.

Uk-Africa Heritage Conference set to bring culture and royalty to the UK

In support of the Coronation of King Charles III, the British African Business Forum, warmly invites you to the UK African Heritage Conference.

The conference is signi cant in more ways than one, as the Heritage Conference is bringing onboard Africa’s own royalty with rich cultural heritage and beauty from di erent countries across Africa whilst celebrating the establishment of Monarchy.

There will be an unlimited display of Royalty and culture from Ghana, South Africa, Nigeria, Niger, Kenya, Zimbabwe, Uganda and many more, the stage is simply set for the Royals.

Empirical evidence gathered since the 1970s shows that most sub-Saharan businesses and entrepreneurs struggle to grow their businesses and are more likely to fail, due to the high levels of uncertainty and risk in their local environments.

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This instability is brought about by many factors including political and economic instability, changes in global commodity prices and regulations.

Thus, the UK African Heritage Conference seeks to increase trade, support and create investment and business opportunities between the UK and Africa to help these businesses. The conference will provide a forum to discuss entrepreneurship, banking, nance, infrastructure development, healthcare, education, energy, Agri-tech, legal services, pharmaceuticals, ICT, Agriculture and many more with the aim of strength-

ening relations between continents and helping businesses grow.

The conference will have investors and businesspeople from top global brands both in the UK and Africa who will be present to network and share insightful knowledge, tips and strategies.

Highlights of the UK African Heritage Conference

v There will be company exhibitions and high-level networking opportunities with royalty and investors.

v There will be a fantastic gala night hosted at the House of

Lords, with presentations by the Kings and Queens of Africa with a keynote address from Baroness Udin, a Member of the House of Lords, of the All Party Parliamentary of Africa.

v A grand tour of Westminster, home to the United Kingdom's Houses of Parliament and much of the British government.

v An exciting tour of London including exciting sites of cultural and historical importance such as Buckingham palace, home to the royal monarchy, The London eye, across the Thames River and many more.

v Awards Exhibitions and Performances at the Royal

Horse Guards Hotel.

How to attend

The UK African Heritage Conference will take place in London, United Kingdom from 9th to 13th May 2023 at the House of Lords, Millennium Gloucester and The Royal Horseguards.

Ghanaian companies are encouraged to sponsor and participate in this experience of a lifetime, after all, the goal is to bring Africa to the fore when we speak of investment.

Interested parties can register on info@babforum.org

Aluminium smelter could generate millions for government, expert says

By Eugene Davis

the prices of aluminium are higher and are above 1,900 per tonne.

He was speaking with journalists on the margins of a two-day downstream aluminium industry workshop at the Royal Senchi Hotel under the auspices of GIADEC together with its partner, ODI, independent global a airs think tank, formerly known as the Overseas Development Institute.

The bene ts range from about US$200m to half a million dollars(U$500m) in terms of value chain, that is only for the smelting but not the entire value chain.”he explained.

The economic bene ts that are expected to accrue the country when it fully develops an aluminium smelter could range from two hundred million(200m) to half a million dollars(500m), a senior Research O cer at International Economic Development Group, ODI, Mr. Derrick Abudu has projected.

Ghana’s government through Ghana Integrated Aluminium Development Corporation (GIADEC) is preparing a draft policy framework in conjunction with its partners such as

VALCO, GBCL, Rocksure and MoTI.

For Mr. Abudu, investments are needed especially in the downstream sector, saying “yes we have done something, the rst one has to do with potential revenue, so if we invest x amount, what potential revenue can we get, or if we subsidise smelting or cost of power what potential can we get and to that e ect we are looking at the range of about half a million dollars if we provide some kind of subsidy and

Ghana has a roadmap which spans from now till 2025, with sectored targets, which seeks to achieve an energy deal that will subsidize the power cost for the sector and have a competitive cost structure and by 2030 once all these foundation policies are in place, it is expected to attract enormous investment into the sector and by 2035 will achieve much higher targets, Mr. Abudu noted.

Investments needed

Further he stated “we need

investments but the reason power is important is because it makes about 32percent of the cost of production, alumina which is a key input is more expensive but the thing with alumina is that everyone buys it at the global market price so you have no control, what you have got control is the cost of power, you can vary that, the cost of primary aluminium is cheap and that is what is supplied to the downstream and once they have a cheap input then you can have incentive structure -once I have got a cheaper input coming in, I have the incentive to be able to rope in more investments because that will mean my returns are much higher.”

On what ODI has done in terms of job creation in the downstream sector, he said “we have done some quantitative analysis and we looking at a bare minimum of about 20,000 jobs generated if it comes into fruition, we also have bene ts in export –so these are exports in terms of higher value added to downstream products so like nished products; aluminium doors, cables, sinks and the bene ts will also come in

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that form and import replacement.

At the moment, we import significant proportions, so Ghana imports most of these items and replacing them will be very valuable for the country.”

Valco is the second largest smelter in Sub-Saharan Africa and is a major producer of primary aluminium. Today, the company produces approximately 50,000 tonnes of aluminium per annum out of its installed capacity of 200,000 tonnes per annum.

Currently, the company is 100percent owned by GIADEC. As the only existing smelter in the country, Valco is integral to the development of the Integrat-

ed Aluminium Industry in Ghana. Under Project 4, GIADEC seeks to partner a strategic investor to upgrade the plant’s equipment and technology to improve e ciency and increase its capacity to 300,000 tonnes per annum.

The VALCO smelter is currently running on two out of its ve potlines and producing about 50,000 tonnes of primary aluminium per year, out of its installed capacity of 200,000 tonnes. The other 3 potlines have been shut down, and beyond repairs due to lack of maintenance and repairs over the years. VALCO has the capacity for direct employment of over 1,200 Ghanaians but currently employs 705 Ghanaians.

Vodafone Ghana’s CEO Claims Outstanding Woman in Telecommunications Award

Patricia Obo-Nai, Chief Executive O cer (CEO) of Vodafone Ghana, has been recognised as the Outstanding Woman in Telecommunications at the African Women Awards 2023. The awards ceremony, held in Ethiopia under the theme “The Role of Women in Business Propelling Africa’s Socio-Economic Renaissance,” celebrates the achievements of exceptional African women leaders in various industries.

Patricia’s award is a testament to her exceptional leadership and dedication to the telecommunications industry, where she has made signi cant strides throughout her career. As the CEO of Vodafone Ghana, she has successfully navigated the competitive landscape and guided the company towards remarkable growth and innovation.

Under her leadership, Vodafone Ghana has introduced ground-breaking products and services, transforming the telecommunications sector in the country. Patricia has also overseen the expansion of Vodafone Ghana’s network coverage,

solidifying its position as one of the most extensive and reliable networks in Ghana.

Commenting on the award, Patricia said, “This award is not only a humbling recognition of my personal journey, but also a testament to the incredible dedication and resilience of all women in the industry. As a leader, I am committed to inspiring the next generation of women in telecommunications. I believe that together, we can break down barriers and redene the future of our industry.”

Patricia is a champion of diversity and inclusion in the workplace. She has led initiatives aimed at promoting gender equality, diversity, and inclusion within Vodafone Ghana and the broader telecommunications industry.

The African Women Award aims to draw attention to the positive impact of African women on the continent’s socio-economic growth and development. By identifying and recognising exemplary African women like Patricia Obo-Nai, the awards aim to position them as role models for the wider female population across Africa.

Binance joins FIDO Alliance in preparation for Passkey Implementation

Binance has joined the FIDO Alliance, a large association dedicated to the development of passwordless authentication standards. Integrating FIDO passkey technology will improve the speed and security of Binance users when logging into the platform.

By joining the FIDO Alliance, Binance users can look forward to a streamlined and secure experience when accessing their favourite exchange services.

The FIDO Alliance, one of the most in uential and largest associations, is focused on developing passwordless authentication standards. “We are committed to providing our users with the highest level of security and convenience as a member of this prestigious alliance.”

What joining the Fido Alliance means for Binance users

We’re also pleased to announce that Binance will

soon integrate passkeys to enhance security on our platform. Passkeys are based on FIDO standards and act as strong, phishing-resistant password replacements. With passkeys, a user can quickly and safely sign in across multiple sites, apps, and devices with local biometric authorization. Binance will o er users a more secure and streamlined experience using passkeys on our platform without compromising on security.

Passkeys will be an excellent addition to our existing security features, which include multi-factor authentication (MFA) and multi-signature technology. We aim to provide our users with the best trading experience while keeping their assets safe and secure.

It’s About Being User Focused

Our FIDO membership and upcoming passkeys implementation will enhance users’ trust and con dence when using

Binance services. In the crypto world, this is incredibly important as we demonstrate its growing maturity. We’ve set the foundations for improving users’ experience on Binance, so stay tuned for more updates as we improve our platform’s security and functionality.

The FIDO Alliance is an open industry association that focuses on new authentication standards that help reduce the world’s over-reliance on passwords. The FIDO Alliance promotes the development of, use of, and compliance with standards for authentication and device attestation. According to FIDO, passwords are still popular even though there is a growing consensus that their use needs to be reduced, if not replaced. But even though e ective PKI and strong authentication solutions have existed for years, barriers to widespread adoption are still

in place.

The FIDO Alliance is working to change the nature of authentication with open standards that are more secure than passwords and SMS OTPs. These new solutions are easier for consumers to use and easier for service providers to deploy and manage.

The FIDO Alliance aims to ful l this mission by: Developing technical speci cations that de ne an open, scalable, interoperable set of mechanisms that reduce the reliance on passwords to authenticate users.

Operating industry certication programs to help ensure successful worldwide adoption of the specications.

Submitting mature technical speci cations to recognized standards development organizations for formal standardisation.

By Chris Koney

Hungarian-Ghanaian Joint Economic and Technical Commission Inaugural Session Held

The inaugural session of the Hungarian-Ghanaian Joint Economic and Technical Commission (JETC) was held on the 29th of March, 2023, co-chaired by Mr. Tristan Azbej, State Secretary of the Ministry of Foreign A airs and Trade on the Hungarian side, and Mr. Ramses Joseph Cleland, Ambassador, and Acting Chief Director of the Ministry of Foreign A airs and Regional Integration of Ghana on the Ghanaian side.

The “Opening to the South” strategy, rst announced by the Government of Hungary in 2015, provided intensive development of bilateral economic relations with African and Middle-Eastern countries by 2023. As a result, closer cooperation between Hungary and the Republic of Ghana was established, which provided a solid ground for the organization of the inaugural session of the Hungarian-Ghanaian Joint Economic and Technical Commission.  During the session, the sides welcomed the positive development of the trade turnover between the two countries in recent years; in 2022, bilateral trade reached 16.2 million dollars. The sides also intend to sign the currently negotiated Investment Protection Agreement, and the

Agreement on the Avoidance of Double Taxation, which agreements may further strengthen bilateral trade relations.

State Secretary Tristan Azbej highlighted that Hungary supported the African country with 418.97 million forints in 2020 and 1.09 billion forints in 2021. Within the framework of the Hungary Helps Program, nine projects in Ghana are directly managed by the Hungary Helps Agency (HHA), with a total value of 177.7 million forints, primarily in the elds of emergency assistance, education and healthcare. The Hungarian Co-Chair also emphasized that in November 2021, Hungary donated 800.000 doses of Astra Zeneca vaccine to Ghana worth 515.8 million forints, while in January 2022 another 400.000 doses of AstraZeneca vaccine worth 252.6 million forints were handed over to ght against the COVID-19 pandemic.

During the meeting, the sides reviewed priority areas of cooperation included in the Protocol of the session. In the eld of water management, the  Co-Chairs praised the successes of Pureco Ltd. projects and expressed their intention to enhance further cooperation. Related to agriculture, the Hun-

garian side informed its Ghanaian counterpart that the Hungarian University of Agriculture and Life Sciences (MATE) is open to cooperation in the eld of feeding technology. The Co-Chairs welcomed the signing of the Memorandum of Understanding between the Ministry of Foreign A airs and Trade of Hungary During the meeting, the sides reviewed priority areas of cooperation included in the Protocol of the session.

In the eld of water management, the Co-Chairs praised the successes of Pureco Ltd. projects and expressed their intention to enhance further cooperation.

Related to agriculture, the Hungarian side informed its Ghanaian counterpart that the Hungarian University of Agriculture and Life Sciences (MATE) is open to cooperation in the eld of feeding technology. The Co-Chairs welcomed the signing of the Memorandum of Understanding between the Ministry of Foreign A airs and Trade of Hungary and the Ministry of Education of the Republic of Ghana on Cooperation within the Framework of the Stipendium Hunaricump rogramme for the Years 2023–2025,

which may further strengthen the achievements of the bilateral cooperation in education.

State Secretary Tristan Azbej praised Ghana's exceptionally high quota utilization of the scholarship program. In the academic year 2022/23, 2,691 Ghanaian students applied for the o ered 100 scholarships, of which 4 students received an extension, and 75 students a new scholarship.

State Secretary Azbej emphasized that the Students at Risk sub-program provides opportunity for students from Stipendium Hungaricum partner countries who were forced to ee as a result of the con ict in Ukraine to continue their studies at a Hungarian higher education institution. In the framework of this sub-program, 10 of the 234 Ghanaian students who ed Ukraine applied successfully for, and subsequently received the scholarship.

Following the plenary session, the co-chairs signed the Protocol and Rules of Procedure of the Joint Economic and Technical Commission, and agreed that the second session of the Hungarian-Ghanaian Joint Economic and Technical Commission will be organized in Accra.

March 31,202 3

Governm ent at the just e nd ed T reasury Bill auctio n a nnounced a s et target of GH¢1 338 billio n acro ss the 91 and 182-day bills Ho wever , tot al bids amo unting to GH¢1 ,624 billio n was rece ived fo r which GH¢1 599 billion was accepted T her e was no auction f or 364-day bills

The week-o n- week yields witne s sed a n o veral l appro ximat ed i ncr ease o f 0.51b ps and 0 42bps a cross the 91 a nd 182- day bills respectively

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/GFI

The 7th Ibero American Film Festival held in Accra

including features, short lms and documentary lms by Spanish, Portuguese and Latin American lmmakers.

The lm festival held each night from 6PM has the aim of promoting Ibero American stories, culture and messages of social impact. In addition, it showcases acclaimed lms by directors from Brazil, Spain, Columbia, Cuba, Peru and Mexico with a diverse range of Latin American context and perspectives.

Other lms including Achero Mañas’ directed Spanish drama lm, El Bola, Cuban drama, Habana station, Peruvian movie, Viaje a Tombuctu Pixinguinha, and Brazilian project, Pixinguinha, were also screened.

This year’s edition of the Ibero American lm festival was held from Wednesday 22nd March to Wednesday 29th March 2023 at the Paci c Alliance, located at Airport Residential Area in Accra.

The festival was dedicated to

the memory of the late Mexican Ambassador accredited to Ghana, Gambia, Liberia, and Sierra Leone, H. E Enrique Escorza, who passed on in November 2022.

Being the seventh edition, the Ibero American lm festival screened a variety of projects

This year, the festival opened with the Columbian movie, Jerico; the in nite ight of days. Jerico is a lm, which re ects a colourful, poetic and lush journey in a beautiful Colombian village, Jericó through the eyes of eight women of all ages and social conditions.

Spanish Ambassador to Ghana, H.E Javier Gutierrez, Peruvian Ambassador to Ghana, H.E Abel Antonio Cardenas Tuppia and the Deputy Head of Mission of the Embassy of Mexico in Ghana, Arturo Agustín Salazar González, spoke about the importance of the Ibero American lm festival.

The 7th Ibero American lm festival closed on Wednesday, 29th March 2023 with the Mexican movie La Buenas Hiebas.

Vodafone and Metro Mass Transit partner to launch vehicle-tracker project

Vodafone Ghana has partnered with Metro Mass Transit Limited (MMT) to launch the Vehicle-Tracker (V-Tracker) Road Safety project. The project will leverage Vodafone’s Internet of Things (IoT) technology to help Metro Mass Transit Limited reduce the occurrence of road accidents involving its buses.

The V-Tracker project is a pioneering initiative under Vodafone’s Hero Projects which focuses on connecting people, places, and things through technology.

As part of the pilot program, Vodafone Ghana has equipped ten MMT buses with its V-Tracker solution, the technology which includes a camera, sensors, and software, is integrated into a vehicle tracking and reporting system that allows MMT to monitor driver performance and intervene when necessary. The system measures speed, sudden turns, heavy braking, and other indicators of improper driving, relaying these signals instantly to a monitoring centre at MMT’s base of operations. Road accidents are a signi cant

cause of fatalities in Ghana, and Vodafone believes that their V-Tracker solution can help reduce these incidents. This collaboration aims to give passengers peace of mind while travelling on MMT buses, knowing that their safety is being monitored and prioritised. Patricia Obo-Nai, CEO of Vodafone Ghana, added, “The V-Tracker project is a prime example of Vodafone’s commitment to using technology to positively impact our society. We are passionate about road safety and believe that this collaboration with MMT will contribute to a safer and more digitally connected Ghana.” The V-Tracker Project is a Vodafone Hero project – a special transformational, non-commercial project championed by the CEO, Patricia Obo Nai. Vodafone aims to t over 500 buses with cameras, GPS trackers, and IoT technology by 2025.

Vodafone Ghana has also shown its commitment to road safety in recent times with the ‘100% Home Safe’ community campaign in December 2022. It was a collaboration with the Nation-

al Road Safety Authority, the Motor Tra c and Transport Department, the Ghana Police Service, the Ghana Private Road Transport Union, and the Road Safety Transport Corporation. The campaign focused on educating commercial drivers on road safety and responsible behaviour.

Mr. Albert Adu–Boahen, Managing Director of Metro Mass Transit Limited, said, “We are excited to collaborate with Vodafone Ghana on the V-Tracker project. It shows our commitment to improving passenger safety and enhancing our operations. By embracing technology and digital solutions, we can create a safer and more e cient public transportation system for all Ghanaians.”

David Osafo Adonteng, Ag. Director-General, of the National Road Safety Authority, commented, “This partnership between Story continued on page 21

Vodafone Ghana and Metro Mass Transit Limited highlights the crucial role technology can play in reducing road accidents and saving lives. We applaud their e orts and look forward to seeing the positive impact of the V-Tracker project on road safety in Ghana.” As a technology company,

Vodafone is committed to using technology for good and fostering collaboration with partners like MMT, who are transitioning to more digital operations. The V-Tracker project highlights the importance of technology for humanity and Vodafone’s role in driving change for the better.

Huawei furnishes Christina Akua Brago Library with ultramodern video conferencing equipment

For the rst time in Ghana, a community library at the outskirt of the capital (Greater Accra) has been furnished with a state-of-the-art multipurpose video conferencing equipment dubbed, “Huawei Idea Hub”.

Speaking during the commissioning of the facility, the Director of Enterprise Business at Huawei Ghana, Brian Wulang indicated that, the donation comes as part of the company’s e ort in promoting digital literacy and ensuring that no one is left behind in the digitalization drive.

“For many years, Huawei has been at the forefront of technological innovation and is passionate about leveraging

technology to improve people's lives. It is in this regard that Huawei donated an intelligent video conferencing equipment and supported in the establishment to this facility, in a bid to ensure that, the people of Akua Brago are not left out in the digital journey.”

“As the world is on a digital quest to advance and transform societies, we believe that technology should be available and accessible to all. Huawei is proud to be part of this incredible initiative aimed at empowering individuals, especially the youth, to unlock their full potential.” He said.

The Vice President of Ghana, H.E. Dr Mahamudu Bawumia,

during the commissioning of the facility said the library was built to enhance the digital skills of children in the community. The initiative according to him was made possible with the collective e ort of partners like GIFEC, Ghana Library Authority, MTN and Huawei.

“The prosperity of a nation is dependent on education hence the Government of Ghana’s focus on improving access to education through policies like Free SHS and Free Technical Vocational education”, he stated.

The Minister of Communications and Digitalization, Ursula Owusu-Ekuful, also revealed

that the library has been equipped with a robotics lab to help improve the analytical skills of children at Akim Oda. She encouraged the users of the facility to take advantage of the opportunity and enhance their robotics skills.

The Minister lauded Huawei’s contribution to the establishment of the facility. According to her, the donation of the Huawei Idea Hub makes the Christiana Akua Brago Library and Technology Hub, “the rst library in Ghana to be equipped with an intelligent AI driven video conferencing facility.”

Farmer Cooperatives sensitized on the Cocoa Farmers Pension Scheme

PNDC Law 81, 1984 and the NPRA Act 766 are legal instruments that guarantee the safety of the scheme against any ‘attack' whether now or in future.

“I do not anticipate any such attack on the continuity of the scheme since it is insulated from political manipulation by law,” he added.

Two accounts exist under the scheme out of which 25% of the total contribution would be credited to his Personal Account and 75%, to a Retirement Account. A farmer may opt to access a soft loan from the Personal Account but this does not apply to the Retirement Account.

Over 150 executives of cocoa farmer cooperative in the Amen East District have been sensitized on the Cocoa Farmers Pension Scheme ahead of the commencement of enrolment in selected communities in the district under the phase I of the programme. The enrolment, which started from 31st March is expected to end on 21st April 2023 as part of the roll out plans of the Board of Trustees of the CFPS to enlist all cocoa farmers who have been issued with their Cocoa Cards under the Cocoa Management System onto the Scheme. The farmer executives were met in a farm to discuss the modalities of the pension

scheme and its bene ts.

The Chairman of the Implementation Task Force, Mr Fii Boafo, in an interactive session with the farmers on basic enrolment requirements, lauded the signicant roles the farmer leaders towards educating their members and called on them to act as agents if change.

The pension scheme, according to him, is a contributory scheme where farmers contribute a minimum of 5% with opportunity to contribute more. He added that it is controlled by the National Pensions Regulatory Act 766 and governed by a 10-member of Board of Trustees with the interest of cocoa farmers

represented on the Board. The deduction of contribution of farmers would be done at points of sale using a mobile App supported with a software that enables instant alert to be received by contributor on his phone. A 5% deduction on every sale will be done by the Purchasing Clerk who has been mandated by the Trustee while at least 1% on the actual value of sales made would be automatically added as COCOBOD's contribution and the total would be credited to the pension account of the farmer.

Speaking on the continuity and safety of the scheme, Mr Boafo started that

There is no entry age limit but contributors who sign onto the scheme at ages below 50 years would be eligible to retire at a non-compulsory age of 55. However, regardless of the entry age, after 5 years of good standing on the scheme a farmer is eligible to retire.

Mr Fii Boafo further called on farmers who have still not gotten their Cocoa Cards for various reasons to contact the District O ce to be assisted in that regard, adding that the card was an essential part of the enrolment process.

“Opportunity exists for farmers who may not be able to enrol during this 2-week period to be captured even after the exercise has ended since we are ready to enrol all farmers to enjoin a decent retirement”, he assured. He appealed to the farmer representatives to use available means to announce the enrolment exercise to their members by way of their support towards mobilising cocoa farmers to visit the centres to sign on to the scheme.

Meanwhile, plans are far advanced to gradually enrol all farmers in the country before the next cocoa season begins, barring any challenges.