Investment Times Newspaper 2023 Edition | Issue 44

Trade Min. makes a case for procurement of locally assembled vehicles by MDAs

The Minister of Trade and Industry, Kobina Tahir Hammond has encouraged government to “concentrate” on handholding local vehicle manufacturers/assemblers by purchasing from them in order to boost production, create market access and shore up the automobile sector.

According to Mr. Hammond, Municipal, Departments and Agencies (MDAs) to consider buying locally produced or assembled vehicles in a bid to provide market access for these companies.

The Automotive Industry is globally recognized as a key strategic sector for stimulating multiplier e ects in terms of industrial transformation, and as a power-

ful driver of employment, foreign investment, innovation, and economic growth, contributing directly and indirectly to a country’s GDP and positive balance of payments.

These assembly investments supported by global vehicle brands are key considering the current automotive technology revolution and globally competitive landscape and is expected to provide partnering opportunities for domestic investors through the automotive value chain.

Speaking with journalists after a tour of the Toyota Tsusho Manufacturing Group (TTMG), Japan Motors Assembly Plant and other agencies under the Tema Export Processing Zone at Tema on

Kobby

to host the Shineunprecedented Summit

The celebrated Ghanaian Blogger Augustus Koranteng Kyei is set to host ‘The Shine Summit’ on the 3rd of June, 2023 at the La Palm Royal Beach Hotel in Accra.

The celebrated blogger is known for his uniqueness, thought-provoking and insightful commentary on contemporary issues.

The summit aims to bring the youth together and educate them on a positive purpose under the umbrella of technology, media and entrepreneurship, creating opportunities through collaborations and investment.

The blogger who is known for his positive works is poised to make sure the youth start desiring to make their contributions to society transgenerational.

“The shine summit” was launched on April 5, 2023 at

Global Ovations O ce in Accra. The event saw the attendance of EU ambassador to Ghana H.E Irchad Ramiandrasoa Razaaly, Nana Ama McBrown, Bola Ray, Anthony Dzamefe, Angel Town and other great personalities. Known for his engaging writing style and unique perspective, Kobby Kyei promises to deliver a riveting performance alongside other speakers that will leave audiences feeling both informed and entertained.

The theme for the summit: The Progressive Portrayal of the media; Technology Transformation advancement, Brand sustainability.

The evolution of technology has revolutionized the media industry and changed the way information is conveyed to the masses. With the rise of digital media, the traditional media landscape has undergone tremendous change, creating new opportunities for businesses

Akoto

I believe in the potential of the Ghanaian worker – Dr. Afriyie

Kyei

The Fifty 50 Club goes to the rescue of Asare Bediako Senior High School

Invest in Ghana: Discover some top reasons to invest in Ghana’s brown gold- cocoa

Trade Min. makes a case for procurement of locally assembled vehicles by MDAs

By Eugene Davis

is, it doesn’t appear to be any problems, they seem to be doing fairly well, government is looking to bring industrialization and investment into the country, bring employment into the country. Maybe the MDAs, government should be thinking of ensuring that we e ectively procure, decide to purchase these vehicles to galvanise what they do here to make sure we give them the market, it is a matter that I think government would have to explore seriously -schools, other facilities and agencies buying these vehicles, it is about time we con-

hanced, it is a good idea, we will take it”

“It is my ministry, government is asking companies like Toyota to bring their production line to the country, they are here in the free zone enclave, even though I don’t think they produce exactly under the free zone procedures and regulations, they produce for internal consumption, it is part of my tour around the place, it is my rst time here and take the opportunity to go round and see some of the production that is going on, so we are here today.”

these agencies under his ministry to gain rst-hand knowledge and provide leadership on how these institutions can enhance its activities.

Herdsmen invade enclave

His tour took him to the Tema Export Processing Zone where he met o cials of the Free Zones Authority, Tema branch who highlighted challenges including inconsistent water supply to the enclave, lack of streetlights,Fulani herdsmen invading the enclave with their cattle and security. Explaining the enclave’s challeng-

said “because of those gaps we have in the fence wall we have cattle coming in. Unfortunately, you x it, they break it.

The fence walls have observation posts and so security would have to be stationed there, but somehow the security persons are saying the posts are too isolated.”

The enclave, which provides employment for 7,000 persons consists of 37 Free Zone enterprises and 48 Non-Free Zone enterprises.

The minister in responding to the

security forces of the country are aware of it.”

The issue, he adds would be laid before the appropriate security agencies to have the matter re solved.

“It (enclave) is supposed to be a secured place for economic pro ductivity and to have a free range of herdsmen and their cattle is dangerous to start with.”

He later visited the 10-acre construction site of the Reroy Power Company, Nissan Assembly Plant, all located in Tema to interact with stakeholders towards ad-

Invest in Ghana: Discover some top reasons to invest in Ghana’s brown gold- cocoa

world’s second highest producer of cocoa, discover our top reasons why you should explore investment in this industry.

Top Reasons to Invest in Ghana’s

Cocoa and chocolate Industries

vestors have a chance to pro t from this lucrative chocolate market.

natural resources and friendly people, is also the world's second largest producer of cocoa. This cash crop has been a driver for economic growth for decades, and its importance has remained steadfast in the midst of globaliza-

The impact of cocoa production in Ghana has been evident throughout the country and has provided much-needed employment opportunities. The industry has also been a great source of revenue for the government, enabling them to invest in public ser-

the nation. Clearly, the cocoa industry has been and still is a critical aspect of Ghana's society and economy.

The cocoa value chain is extensive spanning farming to processing and manufacturing of cocoa and chocolate products. While cocoa serves as a fundamental ingredient in various products, it is primarily utilized by the chocolate industry, which boasts a remarkable retail value of over USD 100 billion as of 2021.

With Ghana’s position as the

• Ghana is a top producer of cocoa beans: Ghana is the world's second-largest producer of cocoa beans, with an estimated average output of around 850,000 to 900,000 metric tons per year. With the large volume of cocoa production in the country, it is indicative that there is a ready supply of cocoa beans for processing into various products. Given that cocoa beans are the primary component in chocolate production, Ghana has a strategic advantage in the chocolate market due to its ample supply of cocoa.

• A Rising Demand for Chocolate: The global demand for chocolate is growing at a steady rate and is expected to continue to rise in the coming years. As of 2020, the global chocolate market was valued at around 137 billion USD and is estimated to further increase in the coming years due to factors such as increasing urbanization, rising disposable incomes, and a growing preference for confectionery products.

By investing in Ghana's cocoa, in-

• Favorable weather and soil conditions: The combination of tropical weather and fertile soil in Ghana creates optimal conditions for growing cocoa trees. With warm temperatures ranging from 21 ¬∞ C to 32 ¬∞ C, regular rainfall, and high humidity, Ghana's climate o ers the ideal environment for cocoa trees to thrive. Moreover, the country's soil is nutrient-rich, which is also vital for the healthy growth and development of cocoa trees.

• Production of premium-quality beans: Ghana is known for producing premium-quality cocoa beans. The favorable weather and climate conditions in the cocoa growing areas combine to ensure that the beans produced are of premium quality, which is an essential ingredient in the production of high-quality chocolate. The rich avor and unique aroma of Ghanaian cocoa beans make them highly sought-after by chocolate manufacturers worldwide.

• Government support: The Ghanaian government is committed to supporting the growth of the cocoa and chocolate industries. It

has implemented policies to promote value addition and established institutions to provide training and technical support to industry players. For instance, the Cocoa Research Institute of Ghana (CRIG) is a governmentfunded initiative that provides industry stakeholders with access to research and technology. Likewise, another government vehicle, the Ghana Cocoa Board (COCOBOD), is responsible for regulating and supporting cocoa production in the country.

In addition to its regulatory function, the COCOBOD provides various services to cocoa farmers, which include technical assistance, training, and access to credit facilities. Overall, the cocoa industry is a vital part of Ghana's economy and society, providing much-needed jobs and income for farmers and processing companies alike.

Additionally, the sector provides a variety of investment opportunities, including cocoa production, processing, and export. Ghana is in a good position to take advantage of this trend and expand its cocoa industry in the coming years as the demand for chocolate and cocoa products around the world increases.

Kobby Kyei to host the unprecedented Shine Summit

to connect with their target markets.

Keynote Speaker: Augustus Koranteng Kyei a ectionately known as Kobby Kyei is a Ghanaian blogger, content creator and social media in uencer who is known for his impactful news on his social media handles. The blogger who is known for his positive works is poised to make sure the next generation has what it takes to thrive thus empowering the current generation to make a di erence. The Blogger’s humanitarian initiative “Go there with Kobby Kyei” has over the months brought smiles to the needy, the less privileged and made them feel loved.

Pro le of speakers

Speaking at this awesome confab are great professionals and indus-

try players whose nuggets will inspire people to do exploits in life.

Tommy Forson, a veteran Ghanaian Broadcaster, radio personality and founder of Rabodef radio academy also known as The King of Country Music will be speaking at the confab. Secondly, Bola Ray a prominent media personality, CEO of EIB Network and entrepreneur in Ghana will also be speaking at the confab. At this summit, Oheneyere Gifty Anti, a Ghanaian media personality, journalist, and women's rights activist will be present to speak at the confab. Also, Nana Ama Mcbrown a Ghanaian actress, TV presenter, and entertainer will be present to inspire young people to strive to be the best in their eld of endeavours. Portia Solomon Gabor, the adjudged Journalist of the Year will also be present to grace the occasion and to share successful tips to

inspire attendees. The world of tech is not left out as Bernard Kafui Sokpe, an innovative change-maker whose work ethic is etched in digital transformation will throw more light on how we can use tech to enhance our careers. Kwame

A.A Opoku an award-winning futurist, global keynote speaker, Web 3.0 Builder, investor, SDGs advocate & business will dive deeper in the area of tech. In the scope of entrepreneurship, Anthony Dzamefe of Caveman Watches will address attendees. Ghanaian freelance vlogger and YouTuber Kobina Ackon a ectionately called Wode Maya who has over the years been able to create a niche for himself in the area of Social Media Content creation will be at the confab.

The media portrayal of technology transformation advancement has

been one of progress, and rightly so. The impact of technology in today's society is undeniable, and it's hard to imagine a world without it. The media has played a signi cant role in promoting the use of technology, painting it as an enabler of growth and development. This is a must-attend summit for all youth. to connect with their target markets.

Keynote Speaker: Augustus Koranteng Kyei a ectionately known as Kobby Kyei is a Ghanaian blogger, content creator and social media in uencer who is known for his impactful news on his social media handles. The blogger who is known for his positive works is poised to make sure the next generation has what it takes to thrive thus empowering the current generation to make a di erence. The Blogger’s humanitarian initia-

tive “Go there with Kobby Kyei” has over the months brought smiles to the needy, the less privileged and made them feel loved. to connect with their target markets.

Keynote Speaker: Augustus Koranteng Kyei a ectionately known as Kobby Kyei is a Ghanaian blogger, content creator and social media in uencer who is known for his impactful news on his social media handles. The blogger who is known for his positive works is poised to make sure the next generation has what it takes to thrive thus empowering the current generation to make a di erence. The Blogger’s humanitarian initiative “Go there with Kobby Kyei” has over the months brought smiles to the needy, the less privileged and made them feel loved.

I believe in the potential of the Ghanaian worker – Dr. Afriyie Akoto

An aspiring ag bearer of the New Patriotic Party (NPP), Dr. Owusu Afriyie Akoto, has sent a heartfelt message to Ghanaian workers, congratulating them for their hard work and assuring them of his

In a statement signed and released in Accra on Sunday, April 30, 2023, in commemoration of this year’s International Labor Day celebrations, Dr. Afriyie Akoto noted that, “I salute all workers of Ghana for their immense contribution to our nation building. I believe in the potential of our workers to advance the development of our

International Labor Day also known as May Day is celebrated every year across the world on May 1. It is mainly celebrated in recognition of the struggles and gains made by workers and the labor movement. It is also celebrated to raise awareness about the rights and opportunities every

labor should get for their welfare and betterment.

Monday, May 1, 2023 which marks May Day has been declared a Statutory Public Holiday in Ghana by the Minister for the Interior, Ambrose Dery.

The Day will be marked at Bolgatanga, capital of Upper East Region where the President of the Republic of Ghana is expected to address thousands of Ghanaian workers.

To Dr. Afriyie Akoto who is also the immediate past Minister of Food and Agriculture, Ghanaian workers deserve commendation considering their enormous contributions to economic growth and stability of Ghana.

“I congratulate you for your hard work and wish you well in the years ahead of us. Ayekoo”, he noted in his statement.

Cling Events boss Nana Akua Akuffo receives global top CEO award

Nana Akua Aku o, the Chief Executive O cer (CEO) of leading Ghanaian-owned events management and interior design company, Cling Events Ghana, has won the prestigious Global Top CEO Award.

Ms. Aku o, a hardworking CEO and Events management and interior decoration expert, was one of the 40 CEOs who were awarded over the weekend at the 40 Global Top CEO Awards ceremony held at the Grand Casamora Hotel, in East Legon, a suburb of Accra.

She was awarded in the Benevolent CEO category of the Global Top CEO Awards scheme.

Cling Events Ghana is a company that o ers event planning and designing to both private and corporate entities.

The company o ers wedding planning, designing, decor, Rentals, Birthday parties, Anniversaries, Floral bouquets, Hamper, photo shoots, Wedding stylists, Gift delivery, corporate events, Floral arrangements, Interior design, Branding, Events training courses and Souvenirs.

Working in partnership with its clients, Cling Events Ghana shares its advice and experience so a cli-

ent's event planning experience is inspired and stress-free.

Cling Events Ghana and its CEO believe the journey towards a client’s beautiful event day should be exciting and exhilarating without facing each decision alone.

Touching on how she felt about the Global Top CEO Award, Ms. Aku o says "I feel honored for such recognition. I have fun creating memories as an event planner and designer. Little did I know someone was watching, and needed to encourage my work by honoring my hard work."

She observed that Cling Events Ghana "deliver and tailor events to the clients' expectations for a memorable day."

According to her, "Cling is always ready to serve its clients. Whether Rain or shine, we treat events as our own. Every detail counts. That is why our slogan goes, "A hug is temporary, A Cling is forever. We cherish the relationship we build from day one".

Meanwhile, she advised event planners in Ghana to work "diligently because everyone is watching, and they will be noticed one day."

The Fifty 50 Club goes to the rescue of Asare Bediako Senior High School

It is often said that It is the learning environment that determines the success and motivation of the student to achieve success. But students of Asare Bediako Senior High School at Akrokerri in the Adansi North District in the Ashanti Region do not have the bene t of learning in a more serene and comfortable environment.

According to the headmaster of the School, Dr Emmanuel Asiedu, the school has furniture de cit of close to 600 with a student population of over 1,700. He added that the school has no fence wall which he said poses a security threat to the students especially the boys who are domiciled in the school.

Quite more disturbing is the fact that the girls are housed outside the school in rented apartments which serve as girls’ dormitory.

This however prompted Obuasi based Non-Governmental organization the Fifty 50 Club to come to their aid by donating 100 mono

desks at the cost of GHS 25,000 to the school. The gesture coincided with the 9th donation event of the club.

In addition, the club o ered a full scholarship (covering tuition, hostel and other incidental costs) to Cli ord Wilson, who is currently pursuing a BSc. Human Biology (Medicine) Program at KNUST, Kumasi. The club provided funding for the payment of the 2023/24 (2nd year) school fees and related charges totaling GHS 10,000. It also made a further commitment to pay for the remaining four years of his program (depending on his academic performance).

Speaking to the media after the donation, the President and Founder of the Club, Jacob Edmund-Acquah, made an appeal to corporate institutions to emulate the MTN Foundation which recently made a GHS 20,000 donation to the club to support its activities. He expressed his gratitude for the generosity of all the club members and encouraged

the students to take their education seriously as that positively impacts future opportunities and career choices.

Founded in July 2020, the Fifty 50 Club has made several donations over the past 3 years including contributing to the cost of surgeries for kids with various heart/medical conditions, supporting community clinics with medical equipment and supplies, providing scholarships to brilliant but needy students, and setting up over 23 people with trading businesses.

Mr. Edmund-Acquah said the club intentions now is among others to make donations that impacts the wider community hence the decision to step in to help when the authorities of the school petitioned them for support. He was optimistic that the furniture will go a long way to provide some level of comfort for the school.

"When we came here, we realized that there were empty classrooms

which goes to show that lack of furniture was a pressing issue facing the school so we believe that our gesture will alleviate their plight and enhance teaching and learning

".

Commendations

Dr. Emmanuel Asiedu commended the club for the gesture and intimated that though government is doing its bit to support the school, they also need other bodies and individuals to come to their aid since the school has enormous challenges.

Irrespective of the challenges facing the school, the headmaster said the school stands tall among the three senior high schools in the Adansi North district in all academic competitions.

Master Cli ord Wilson, who received scholarship from the Fifty 50 Club also commended them for their support. He said funding his education has always been a daunting task for his family.

"This support from the Club has come as a huge relief to me and my family since it has been di cult for us to pay my school fees and hostel fees too. I really thank the Fifty 50 club for the support ".

Students cry for help

Speaking on behalf of the students, the Head boy of the school, Oppong Daniel said the students share the same washroom with teachers of the school which he said was not pleasant.

He again, revealed that there have been constant attacks from the community folks due to the absence of fence wall in the school.

"The community boys attack us during preps and entertainment, they go to the extent of stealing from us and injuring some of us" He called on the government and other benevolent organizations and individuals to come to the aid of the school.

The week-on-week yields witnessed an overall approximated increase of 0.12bps, 0.10bps and 0.36bps across the 91 182 and

T-bills auction: Interest rates continue to rise; government gets GH¢2.53 billion.

T-bills: Government to borrow Gh¢1.96 billion this week. GOIL Chief Operating Officer laid to rest. Ghana’s reserve s almost empty; to end 2023 at n early 3 weeks of import cover – IMF

MakersPlace First Lego League Robotics Scrimmage Competition ended successfully

The maiden edition of the MakersPlace First Lego League (FLL) Robotics Scrimmage Competition was held in Accra recently. It featured six teams of four students, who competed with each other following the all FIRST Lego League competition rules. The students showcased their creativity, critical thinking, and problem-solving skills, and indeed they did not disappoint. The FLL Robotics Scrimmage Competition was organized in partnership with the SiSe Puede Foundation, Edulearn Ghana, and Coderina EdTech Foundation, the rst operational partner for the sub-region with sponsorship from Arm(E³)NGAGE. The robotics program was designed to encourage students to

develop STEM skills (Science, Technology, Engineering, and Math) through hands-on robotics projects. The competition was open to students from di erent schools who registered to be part of the afterschool program. Children between the ages of 9 to 16 were provided a platform to explore and develop their skills in robotics, programming, and design. These students have been working on their projects for several months prior to joining the competition. They built their robots using LEGO Mindstorms EV3 robotics kit, and programmed them to perform various tasks. The competition was judged based on a set of criteria, including robot performance, design, and team-

work. The atmosphere at the competition was power-driven as the teams worked hard to get their robots to complete the super powered missions assigned to them. The robots had to navigate obstacles, pick up and move objects, and perform other complex tasks.

The students worked tirelessly, testing and tweaking their robots until they were satis ed with their performance. Parents and mentors also present to witness the competition were proud and amazed at the level of skill and creativity displayed by these students.

Some of the parents who spoke said they were impressed with the inventiveness and critical thinking skills that the students had dis-

played throughout the competition. It was clear that the students had learned a lot from the competition and were better equipped for the future.

At the end of the competition, the raw videos were sent to volunteer judges from the Degrees of Freedom Robotics team in the USA who would watch the robot games and innovative program project presentations videos to provide feedback. It was a close competition, but one team emerged as the overall winner. The winning team had to demonstrate exceptional teamwork, design, and robot performance.

Madam Baptista S. Gebu, one of the judges congratulated the organizers of this all important event and encouraged parents and educators to commit to exposing the future gen-

eration to the future of work conversation, a situation which supports hands-on acquisition of soft skills not readily demonstrated in main stream educational centers. She was excited; the kids demonstrated problem-solving, team work and collaboration skills among others. The MakersPlace Robotics Scrimmage Competition is in line with the changing trends of Arti cial Intelligence (AI) and the founder, Mr. Douglas Ayitey in his nal remarks, said the competition was a “testament to the importance of hands-on learning and the power of STEM education in preparing our children for the future”. He stressed the need for more initiatives like this that will expose students to STEM and encourage them to develop skills that will be valuable in the future.

EDITOR: BENSON AFFUL