tag:blogger.com,1999:blog-81752036258665934282024-03-28T20:28:58.898-07:00Kofi Ahovizotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.comBlogger3233125tag:blogger.com,1999:blog-8175203625866593428.post-28447771782978015132024-02-07T11:41:00.000-08:002024-02-07T11:41:52.644-08:0060% of Ghanaians not saving for retirement – Report<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJAumSeGiHWVHi9OPqdV2ZAKmn4CHPksxklvSYSUx1zFFEAHL5cZZ9FZcdNlgJf8jt1eHXV8YE8WKf442wgy8FQKfETNuEdigdaVldPH5MltOZMhOYcMnXFnUyXuC5sx4Rs-iIzBvmGQ0I4JMvacFxq5r6T4njuPUh9PtKL8ekx_j4csVNjuDfn9u7tkI/s752/Old-Mutual-Ghana-752x424.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="424" data-original-width="752" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJAumSeGiHWVHi9OPqdV2ZAKmn4CHPksxklvSYSUx1zFFEAHL5cZZ9FZcdNlgJf8jt1eHXV8YE8WKf442wgy8FQKfETNuEdigdaVldPH5MltOZMhOYcMnXFnUyXuC5sx4Rs-iIzBvmGQ0I4JMvacFxq5r6T4njuPUh9PtKL8ekx_j4csVNjuDfn9u7tkI/s320/Old-Mutual-Ghana-752x424.jpg" width="320" /></a></div><br /> Approximately 6 out of 10 Ghanaians are not saving for retirement, according to the 2023 Old Mutual Financial Services Monitor.<p></p><p>This is significantly higher amongst informal sector workers, younger and lower-income earners.</p><p>The report also said only 18.0% are very confident that they have enough savings for retirement.</p><p>Only 37.0% of respondents have started saving for retirement.</p><p>Again, 7 out of 10 Ghanaians are hoping that their children may support them when they are old.</p><figure class="wp-block-image size-full"><img alt="" class="wp-image-10032456857 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2024/02/savings.png" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2024/02/savings.png" /></figure><p>There are no significant differences across age and income levels. Significantly lower expectations amongst Ghanaians (11%) that the government will look after them when they are unable to support themselves.</p><p>For life cover, 88% of respondents said they do not currently have life cover.</p><p>In terms of the reasons for not having a life cover, 24% of the respondents pointed out that life cover is not a priority. Eighteen percent said they do not see the importance.</p><figure class="wp-block-image size-full"><img alt="" class="wp-image-10032456859 lazy loaded" data-src="http://www.myjoyonline.com/wp-content/uploads/2024/02/life-cover.png" data-was-processed="true" src="http://www.myjoyonline.com/wp-content/uploads/2024/02/life-cover.png" /></figure><p>Meanwhile, consumers use a multitude of ways to save from formal to informal depending on needs.</p><p>The top savings channels mentioned are at a bank, Mobile money, Susu, or Unbanked cash.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-81291783440753029682024-02-07T11:37:00.000-08:002024-02-07T11:37:08.996-08:00Ghana earned $521.86m from crude oil in second-half of 2023<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdo7iKuV87S9cxCcgIOt4vajx-AFszFGZ8M3KblndBgRgg5EitJyb8kZP8wyEjOVVk4VsEXF1D_-ASvJ_Wz2zmmqttnO7FWL3ZcAfxWVUWjk91TyHwAnjdzyc_13vjjWPiOMcreY_QT9ebenViZid9xZbWC7zByYUQwYJyc_9R8pJvWUHgJkjiJiODImM/s300/Crude-Oil.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="250" data-original-width="300" height="250" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdo7iKuV87S9cxCcgIOt4vajx-AFszFGZ8M3KblndBgRgg5EitJyb8kZP8wyEjOVVk4VsEXF1D_-ASvJ_Wz2zmmqttnO7FWL3ZcAfxWVUWjk91TyHwAnjdzyc_13vjjWPiOMcreY_QT9ebenViZid9xZbWC7zByYUQwYJyc_9R8pJvWUHgJkjiJiODImM/s1600/Crude-Oil.png" width="300" /></a></div><br />Ghana earned $521.86 million from crude oil in the second half of 2023, the Second-Half Ghana Petroleum Funds 2023 has revealed.<p></p><p>Out of that, the country secured $319.73 million from crude oil liftings in the last six months of 2023.</p><p>The crude oil lifting took place between May 2023 and October 2023.</p><p>The country also got $198.6 million from corporate tax during the second-half of 2023.</p><p>The taxes were from crude oil liftings by Kosmos Energy, Tullow Oil and Petro SA.</p><p>Ghana again earned $3.32 million as interest from the Petroleum Holding Funds.</p><p>Other income from surface rental was estimated at $112,082.</p><p><strong>Investments from Ghana Petroleum Funds estimated at $1.23bn</strong></p><p>For the Ghana Petroleum Funds Investments, the nation earned $1.23 billion during the period.</p><p>The Ghana Heritage Fund brought in $1.046 billion, whilst the $190.38 million was gotten from the Ghana Stabilisation Fund</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-78066900481388240302024-01-17T04:53:00.000-08:002024-01-17T04:53:28.264-08:00Consolidated Bank Ghana celebrates 5 years of market relevance<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifkbynDYsa3COahbn2Kkd-WAFnd5TbYkCbDW8aeygUIu4Y4IjRWtVfpR6LRovMPURIgIL8FnNxb6bZ5RMALkcmkQQeOU-qIkVHXKAnC0nP0FKNAzrJd1D-ddvd-y69Kf-vQX802RRY0k2OGQ0kImYhZZgWkSINu7hZXw_e1v_oKbMLuOig1hUi68cAIgE/s590/Daniel-Wilson-Addo-%20consolidated%20bank.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="424" data-original-width="590" height="230" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifkbynDYsa3COahbn2Kkd-WAFnd5TbYkCbDW8aeygUIu4Y4IjRWtVfpR6LRovMPURIgIL8FnNxb6bZ5RMALkcmkQQeOU-qIkVHXKAnC0nP0FKNAzrJd1D-ddvd-y69Kf-vQX802RRY0k2OGQ0kImYhZZgWkSINu7hZXw_e1v_oKbMLuOig1hUi68cAIgE/s320/Daniel-Wilson-Addo-%20consolidated%20bank.jpg" width="320" /></a></div><p></p><p>Consolidated Bank Ghana LTD (CBG) proudly marks its five-year milestone as a market leader in Ghana's banking industry.</p><p>The Bank has achieved significant milestones, including building cutting-edge technology platforms, impactful lending, and achieving leadership in SME finance.</p><p>In the SME sector, CBG has played a pivotal role, providing GHS1.6 billion in loans to over 5,600 businesses, introducing innovative programs such as the 'CBG SME Adesua Series,' and optimising loan processing for swift access.</p><p>The initiatives in the SME sector have earned the bank various awards including the 'Euromoney Award for SME Market Leadership' in 2022 and 2023.</p><p>In the Corporate and Institutional Banking segment, CBG has participated in loans totalling GH¢2.35 billion, either as lead arranger or transaction advisor, benefiting crucial sectors like energy, tourism, and agriculture.</p><p>The Bank's commitment to community impact is evident through various CSR initiatives, focusing largely on health and education.</p><p>To position the bank for further growth, and to restore balance sheet resilience, the Ministry of Finance (MoF) recently provided GHS 2.5 billion Ghana Cedis in capital to the Bank.</p><p>The Bank is therefore solvent and liquid to discharge its core mandate of financial intermediation without any challenges.</p><p>It is, therefore, ideally positioned to continue its growth trajectory and most importantly to continue to make a positive impact on the economy.</p><p>In the immediate future, CBG would deepen investment in digitisation, upscale support to SMEs, further prioritize customer service, and operational efficiency.</p><p>The overriding ambition is to build market leadership in SME financing while building a resilient institution.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-42165664104726176992024-01-17T04:49:00.000-08:002024-01-17T04:49:45.951-08:00Emirates marks 20 years of contributing to Ghana’s success<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhz-laNLe4IDLIBPKqV4FbqTfmxbmT3G2U367OjzAgWy9NffDDNzRhkP6UpKWAm30RjbeCUxw2jLr5It6bmECqGtnA3l5EO8LK9099wHHApZSVhFjATeSYMiIl4ZCXVgGPjRs1u4tEOX8LQj0wNAffawm8WOVP8P_HkuJBGYyg-jfuLSwkvQZP94G19LrE/s717/Emirates-in-Ghana-marks-20th-Anniversary-717x424.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="424" data-original-width="717" height="189" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhz-laNLe4IDLIBPKqV4FbqTfmxbmT3G2U367OjzAgWy9NffDDNzRhkP6UpKWAm30RjbeCUxw2jLr5It6bmECqGtnA3l5EO8LK9099wHHApZSVhFjATeSYMiIl4ZCXVgGPjRs1u4tEOX8LQj0wNAffawm8WOVP8P_HkuJBGYyg-jfuLSwkvQZP94G19LrE/s320/Emirates-in-Ghana-marks-20th-Anniversary-717x424.jpg" width="320" /></a></div><p></p><p>Emirates, the world’s largest international airline, celebrates 20 years of service in Ghana.</p><p>Since the inaugural flight in January 2004 at Kotoka International Airport using an A330-200 aircraft, Emirates has become a trusted transport partner that connects Ghana to the world and contributes to its vibrant economy and community.</p><p>Starting with three weekly flights in 2004, Emirates now operates a daily non-stop service between Accra and Dubai.</p><p>Over the past 20 years, Emirates has transported over 2 million passengers between Accra and Dubai and its extensive network, facilitates tourism and business travellers.</p><p>The airline has operated close to 13,000 roundtrip flights, clocking 80.71 million kilometres during the same period.</p><p>In 2018, the airline showcased its commitment with a special A380 flight for the launch of Ghana's Terminal 3.</p><p>Emirates, through its Dubai hub, offers convenient connections to over 140 passenger and cargo destinations across six continents.</p><p>The airline's efficient fleet of 249-passenger aircraft ensures award-winning comfort and service, including a three-class layout on the Boeing 777-300ER from Accra.</p><p>Some of the most popular outbound destinations to Accra include points in London and China along with cities like Canada, Delhi, Sydney, Singapore, and Istanbul.</p><p>Top feeder markets for Accra include travellers from similar points in addition to Melbourne, Perth and South Korea.</p><p><strong>Customer experience excellence</strong></p><p>Emirates' passengers can enjoy the best experience in the sky including Ghanaian-inspired meals and a vast entertainment selection from its ice system with more than 6,500 channels of carefully curated global entertainment content featuring movies, TV shows, music, podcasts, games, and audiobooks.</p><p>Premium class passengers and select Skywards members can enjoy lounge and chauffeur drive services before their flights in Ghana. In Dubai, complimentary Chauffeur Drive service to and from the airport are available to its premium class customers who can also relax or catch up on work in one of its lounge facilities at Dubai International Airport.</p><p><strong>Facilitator of trade</strong></p><p>The airline has also been a facilitator of trade between Ghana and the world, supporting local industries and businesses.</p><p>With its vast cargo network and state-of-the-art facilities, Emirates SkyCargo has played a crucial role in global trade, enabling seamless transportation of goods, promoting trade lanes and stimulating economic development in the countries it operates to.</p><p>Emirates’ flights have uplifted more than 51,000 tonnes of cargo out of Ghana, with commodities exported ranging from fresh fruits, vegetables, and perishables to precious metals.</p><p>Top commodities frequently imported into Ghana include apparel, household goods, auto spares and vaccines over 41,000 tonnes.</p><p><strong>Supporting the community</strong></p><p>The airline's contributions extend beyond economics, as recognized by the Presidential Honour for Distinguished Service in 2023, for its efforts during the COVID-19 pandemic.</p><p>Emirates SkyCargo airlifted and distributed 62 tonnes of COVID-19 vaccine doses to Ghana during the pandemic.</p><p>Emirates also supported the transport of equipment donated by China’s Jack Ma Foundation to the Government of Ghana and operated 12 repatriation flights from Dubai to Accra, bringing back over 3,000 Ghanaian citizens, residents and others from over 31 cities seeking to return to the country from across its network.</p><p>Ghana holds a significant place in the Emirates' African story, and Emirates takes great pride in the shared journey of the past two decades.</p><p>Whether facilitating trade, connecting families, showcasing Ghanaian cuisine, or empowering local businesses, Emirates has been a steadfast supporter and partner in Ghana’s success.</p><p><strong>About Emirates</strong></p><p>For two decades, Emirates has solidified its position as a reliable and prominent provider of air travel services in Ghana, demonstrating unwavering commitment to the Ghanaian market.</p><p>The airline actively connects the country to its extensive global network, offering a range of services from Economy to Business and First Class to cater to diverse needs.</p><p>Renowned for its innovative services and onboard features, Emirates has garnered numerous accolades in the country, including the prestigious Global Premier Quality Airline Brand Award.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-61942955473458915682024-01-17T04:34:00.000-08:002024-01-17T04:34:36.359-08:00Adamus Mining Resources unveils highly efficient 100tonne Liebherr haulage trucks to boost production<p> In a bid to boost its production capacity, Ghana's wholly Ghanaian-owned mining giant, Adamus Resources Limited, with financial support from its parent company, Nguvu Mining Limited, has launched over a dozen Liebherr brand of haulage trucks at the company’s site at Esiama in the Ellembelle District of the Western Region.</p><p>The acquisition of the haulage trucks to augment the company’s existing heavy-duty equipment forms part of Adamus Mining's expansion drive towards its planned aggressive exploration programme.</p><p>Achieving this milestone which has been one of the company’s major goals, has strengthened its ground resources.</p><figure class="wp-block-image size-full is-style-default"><img alt="" class="wp-image-10032444695 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2024/01/1-20.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2024/01/1-20.jpg" /></figure><p>The colourful event was witnessed by some prominent chiefs of the Nzema Traditional Council led by the President of the Eastern Nzema Traditional Council Awulae Amihere Kpanyinli the Third.</p><p> Also at the ceremony were the Western Regional Minister, Kwabena Okyere Darko-Mensah, the District Chief Executive of Elembelle, Kojo Bonzoe and the Chief Executive Officer of the Ghana Chamber of mines, amongst other players of the mining industry.</p><p>The Western Regional Minister, Mr Okyere Darko-Mensah praised the management of Nguvu Mining Limited for its continuous investments and immense contribution to the local economy, especially with the employment of over 1,100 indigenes by the company.</p><figure class="wp-block-image size-full is-style-default"><img alt="" class="wp-image-10032444696 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2024/01/6-2.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2024/01/6-2.jpg" /></figure><p>He added that without Adamus mining in Elembelle, the local economy would have collapsed.</p><p>He said Adamus’ culture of being a company that listens to the community has led to an interesting stage where the company involves residents in responsible and sustainable community mining operations. He added that the company has made all the necessary arrangements to start community mining on their concessions, and is doing so well in supporting and supervising this project to sustain mining in the Elembelle District.</p><p>The Regional Minister said he believes that the new arrangements are more sustainable and will ensure that the people of Nzema own some of the productive mining businesses in their district to generate revenue for themselves and their communities.</p><blockquote><p>As an advocate for mining myself, I do believe that if Ghana has to grow then it means that we have to consistently support the mining sector in this country."</p></blockquote><p>He stressed that it was a fact that without gold, Ghana's economy would have been in tatters after the COVID-19 pandemic, and for that matter, he has been pushing for increased gold production to support the economy of Ghana and all mining communities.</p><p>The CEO of the Ghana Chamber of Mines, Mr Sulemanu Koney, Commended the management of NGUVU Mining Limited and Adamus for investing latest technology that is expected to help the company achieve its 120,000 ounces per annum target.</p><figure class="wp-block-image size-full is-style-default"><img alt="" class="wp-image-10032444700 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2024/01/4-4.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2024/01/4-4.jpg" /></figure><p>He said there is no doubt that this diesel electronic drive has become a benchmark in the 100-ton class for off-highway mining trucks, showcasing top performance, maximizing uptime and low operational cost.</p><p>The truck boasts of a design that is embedded with safety considerations for maintenance technicians and onlookers by eliminating various hazards.</p><p>Its commitment to the comfort of operators has been well considered with an ergonomic cabin to promote driver efficiency and enhanced superior performance.</p><blockquote><p>We believe that their robust design and advanced technology will undoubtedly contribute to increased operational efficiency at Adamus Mining and further set a new standard for the mining industry in Ghana" said Sulemanu Koney.</p></blockquote><p>Liebherr, a renowned name in the global mining equipment industry has a history of delivering top-notch products that align with the needs of modern mining operations.</p><p>Sulemanu Koney said, "The Liebherr 100t T236 trucks are no exception. I’m confident that their integration into Adamus Mining Resources operations will reduce downtime with low cost and improve overall performance.”</p><p>The symbolic key to the trucks was jointly presented to the CEO of NGUVU Mining Limited, Madam Angela List by the Executive Vice President of Liebherr, Dr Jörg Lukowski and Member of the Administrative Board of Liebherr, Madam Sophie Albrecht.</p><figure class="wp-block-image size-full is-style-default"><img alt="" class="wp-image-10032444697 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2024/01/2-6.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2024/01/2-6.jpg" /><figcaption class="wp-element-caption">CEO of NGUVU Mining Limited , Madam Angela List holding the symbolic key to the trucks while Executive Vice President of Liebherr Mining , Dr Jörg Lukowski and Madam Sophie Albrecht, Member of the Administrative Board of Liebherr International AG look on</figcaption></figure><p>Speaking after the presentation Dr. Jörg Lukowski thanked the management of NGUVU Mining for their trust in them.</p><p>Dr. Jörg Lukowski assured them that Liebherr will work hard to deliver on its promises in terms of training and after-sales services.</p><p>Speaking after the launch, the visibly elated CEO of NGUVU Mining Ltd, Madam Angela List said her company’s partnership with Liebherr has provided them with an excellent result in terms of top-quality mining equipment, with the latest being the first of its kind in Ghana.</p><p>She said looking at various specifications of equipment, the T236, an electric truck with the superior after-sales service and training that Liebherr offers is a huge step for the group.</p><p>She said the trucks will help accelerate the movement of the ore from the ground to the processing plant.</p><p>Madam Angela List said the company believes in quality human resources and therefore has trained people from scratch especially the community members who had no skills at all including women.</p><p>The CEO, who is committed to gender balance expressed joy about the fact that female employees who had no skills in driving, and started with the company as cleaners, have now been trained to become qualified operators.</p><figure class="wp-block-image size-full is-style-default"><img alt="" class="wp-image-10032444699 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2024/01/0F3A9159.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2024/01/0F3A9159.jpg" /></figure><p>The women displayed their skills with the trucks after the launch.</p><p>According to her, most of the female operators are extremely competent and committed to safety, adding that she wants to see more women excelling in the male-dominated fields of the company.</p><p>Madam Angela List said there is a cordial relationship with the host communities because community members have recognized that Adamus' interest goes beyond personal gains. She said the company has the entire community, the various chiefdoms and all the people of Nzema land at heart.</p><p>She said their doors are always opened to them for dialogue, discussions of progress, and implementation of corporate social responsibility initiatives, while efforts are made to employ more locals to make life easy for them.</p><p>On his part, the President of the Eastern Nzema Traditional Council, Awulae Amihere Kpanyinli the Third, lauded the company for its contributions to the mining industry and the communities in their operational areas. </p><figure class="wp-block-image size-full is-style-default"><img alt="" class="wp-image-10032444701 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2024/01/5-4.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2024/01/5-4.jpg" /></figure><p>While pledging the support of traditional authorities for mining activities, he said some people are only against community mining due to environmental challenges such as the degradation of forests and the pollution of water bodies.</p><p>Awulae Amihere Kpanyinli the third said traditional authorities support sustainable and eco-friendly community mining for the protection of the environment for future generations.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-39091296355382444692024-01-17T04:28:00.000-08:002024-01-17T04:28:26.484-08:00Akufo-Addo to host 3-Day Africa Prosperity Dialogues from January 25, 2024<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjStV1GnB7gXFf9BDmo8DB3YykSpk_fozadgoRwwiDQPJgTpXoLEP05NaeyovBT8_TiYVTJZkzoL3wnA0OOe2mVU6b6ZgD1fUVXAQ3TD4X5w6CeHUT3IQEGwsG8_w1txij2jCP-XuccEjJeVJyi_8TN-jifcMZzB7IHTr3gpXSPuxr6Gy-bc7fMU4RIuZg/s649/Akufo-Addo-at-COP28-speaking-649x424.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="424" data-original-width="649" height="209" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjStV1GnB7gXFf9BDmo8DB3YykSpk_fozadgoRwwiDQPJgTpXoLEP05NaeyovBT8_TiYVTJZkzoL3wnA0OOe2mVU6b6ZgD1fUVXAQ3TD4X5w6CeHUT3IQEGwsG8_w1txij2jCP-XuccEjJeVJyi_8TN-jifcMZzB7IHTr3gpXSPuxr6Gy-bc7fMU4RIuZg/s320/Akufo-Addo-at-COP28-speaking-649x424.jpeg" width="320" /></a></div><br />The Africa Prosperity Network (APN) in collaboration with the Africa Continental Free Trade Area Secretariat is set to organise the Africa Prosperity Dialogues in Ghana from January 25-27, 2024.<p></p><p>The meeting will offer top business leaders, heads of international development institutions, and social change markers a unique platform to deliberate and proffer comprehensive policies aimed at boosting intra-Africa trade.</p><p>According to the APN, the event will ensure that the continued rulebook of the colonial-era commercial arrangements is rewritten, where Africa’s resources feed the continent’s machines through actionable and bankable value-added pathways.</p><p>Addressing journalists ahead of the three-day conference, Founder and Executive Chairman of Africa Prosperity Network, Gabby Asare Otchere-Darko said it’s time to invest in key sectors and prioritise trade to unlock Africa’s global potential.</p><blockquote><p>The idea about the single market is about what. It is about the economy, and who are the drivers of the economy? Is the private sector. So we thought that it was important to find a way to let the private sector on the continent own the AfCFTA and drive it”.</p></blockquote><p>“In order for us to move on, we need to find a way to aggregate our resources, human strength, and natural resources to build linkages across the continent”, he added. </p><p>The establishment of the AfCFTA, does not only provide a robust policy framework for boosting intra-African trade but also elevates Africa’s economies.</p><p>Chief of Staff at AFCTA, Silva Ojakol stated that the three-day event will embolden the vision and mission of the PACT.</p><blockquote><p>Our contribution to industrial growth is only 2.0%. Why, because we allow our resources to be taken away and value elsewhere when we could actually add value here. We need to rise above this. This disparity highlights the urgent need for industrialisation for improved infrastructure and energy solution to enhance competitiveness and reduce the production cost”. </p></blockquote><p>Meanwhile the theme for the 2024 Africa Prosperity Dialogues is “Delivering Prosperity in Africa-Produce, Add Value, Trade”.</p><p>The event is to be hosted by the President of Ghana, Nana Akufo-Addo. There will also be the Africa Prosperity Champions Awards and Presidential gala dinner on the night of January 26, 2024 at Kempinski Hotel in Accra, ahead of the Presidential Dialogues at Peduase Presidential Lodge, Aburi Hills on Saturda</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-70935492589290736372024-01-17T04:21:00.000-08:002024-01-17T04:21:55.610-08:00Credit card, romance fraud remain most prevalent cybercrime in Ghana – 2023 Fintech Report<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwDw6cQCbFYzlM6HBO_aoKvNdENABdqWYbHzVQ4yMpcZ266hPq2saZSf9uKfoYsmuamyd4so850DvQiLJlZXxPMfa0X2-OnyA8mJ2RtneOqp-pZ-haaBA7_YM6W6OKqgDeTg1tO3h6J0OJxnEikvDAk2dZZjlD7oCatr1B2rZU0yl8-KQCWdgkf7bpXy4/s696/FRAUD-ALERT-696x392.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="392" data-original-width="696" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwDw6cQCbFYzlM6HBO_aoKvNdENABdqWYbHzVQ4yMpcZ266hPq2saZSf9uKfoYsmuamyd4so850DvQiLJlZXxPMfa0X2-OnyA8mJ2RtneOqp-pZ-haaBA7_YM6W6OKqgDeTg1tO3h6J0OJxnEikvDAk2dZZjlD7oCatr1B2rZU0yl8-KQCWdgkf7bpXy4/s320/FRAUD-ALERT-696x392.png" width="320" /></a></div><br />Cyber fraud, such as credit card fraud, identity fraud, or romance fraud, remains the most prevalent form of cybercrime in Ghana, the 2023 Ghana Fintech Report has revealed.<p></p><p>According to the report, perpetrators typically create fake online profiles or websites to deceive victims into sharing their money or personal information.</p><p>Significantly, it said the financial sector has become a particularly attractive target for hackers who exploit vulnerabilities in online banking systems.</p><p>The Bank of Ghana’s Fraud Report for the year 2022 highlighted cyber email fraud as one of the top five fraud categories significantly impacting the banking industry. Notably, this form of fraud resulted in losses of GH4.3 million in 2022 alone, representing a 65.5% increase from the previous year.</p><p>The report stressed that the nation has been grappling with a surge in cyber threats and online attacks. The statistics indicate a significant rise in various types of cyber incidents, ranging from individual-focused phishing attacks to complex cyber espionage campaigns affecting both businesses and government entities.</p><p>The National Cybersecurity Advisor reported a total of 11,550 cybercrime cases since the launch of the Cybercrime Incident Reporting Points of Contact (PoC) in October 2019. This system was created to facilitate the reporting of cybercrime and cybersecurity incidents by the public, strengthening the efforts of the National Computer Emergency Response Team (CERT) operating under the National Cybersecurity Centre (NCSC).</p><p><strong>Impact of cybercrime</strong></p><p>The report said the repercussions of these cyber threats transcend the digital world and have tangible impacts on individuals, businesses, and the nation’s economy.</p><p>For individuals, the report stated that cybercrimes like phishing, identity theft, and online fraud pose significant financial risks, leading to unauthorized bank transactions, stolen credit card information, and fraudulent charges.</p><p>Furthermore, these digital invaders can breach personal privacy by accessing sensitive information, emails, and documents, causing emotional and psychological distress. Identity theft is particularly devastating, resulting in long-lasting damage to one's credit, reputation, and overall well-being.</p><p>With regard to businesses, the report pointed out that businesses face their own set of challenges, including financial losses, damage to their reputation, and potential legal consequences.</p><p>It said ransomware attacks and other cybercrimes disrupt business operations, leading to lost revenue, decreased productivity, and even the closure of smaller enterprises - some are unable to bounce back from the disruption. Additionally, businesses may face legal ramifications and regulatory fines for failing to adequately protect customer data, further escalating the financial impact.</p><p><strong>Way forward</strong></p><p>In conclusion, the report said “As our reliance on digital infrastructure continues to grow, the ongoing development and integration of advanced technologies remain crucial for fortifying our defences and preserving the integrity of the digital realm.”</p><p>While technology can play a role in enhancing online safety, it added that it is not a silver bullet that can solve all the problems.</p><p>Therefore, technology solutions need to be carefully designed, evaluated, and regulated to ensure that they are effective, reliable, transparent, accountable, and respectful of users’ rights.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-65466192015864760462024-01-17T04:13:00.000-08:002024-01-17T04:13:40.853-08:00Government to open negotiations with Eurobond holders in London on January 22, 2024<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4lvXbOUwmzw2kc5aCq9iG-SfFyY4XSqsU8OudtLVT_v_4x4ApnGXejmvl6D5mywcGb_3Cg13j7SeE1ptWJzoQdRcwKAwrHu725btqO9t-U5Prgotis86Kzoc4X6oqFB76-r7misxrwRg0Na4f1WGZTKHC-_dGV_8TN-G01sGCqUtwEJgFTj_u_QVnS1E/s855/Ken-Ofori-Atta-1-855x424.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="424" data-original-width="855" height="159" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4lvXbOUwmzw2kc5aCq9iG-SfFyY4XSqsU8OudtLVT_v_4x4ApnGXejmvl6D5mywcGb_3Cg13j7SeE1ptWJzoQdRcwKAwrHu725btqO9t-U5Prgotis86Kzoc4X6oqFB76-r7misxrwRg0Na4f1WGZTKHC-_dGV_8TN-G01sGCqUtwEJgFTj_u_QVnS1E/s320/Ken-Ofori-Atta-1-855x424.jpg" width="320" /></a></div><br />The government is expected to open negotiations with Eurobond holders and commercial creditors on Monday, January 22, 2024 in London.<p></p><p>It will try and convince these investors to accept the terms that Finance Minister, Ken Ofori-Atta had initially proposed in 2023.</p><p>Ofori-Atta disclosed this on PM EXPRESS BUSINESS EDITION with host George Wiafe which will be aired on JOYNEWS on Thursday, January 18, 2023, at 9pm.</p><p>“We have had discussions with the Eurobond investors and large creditors and there is some goodwill”. the Finance Minister said.</p><p>He added, “I am expecting that we negotiate in good faith to ensure the country comes back quicker than later”.</p><p>The Finance Minister is hoping to build on the momentum, following the deal reached with the bilateral creditors on terms to restructure some $5.3 billion last week.</p><p><strong>Background</strong></p><p>At an initial engagement in London with the Eurobond holders and commercial creditors on October 16, 2023, the Finance Minister announced up to 40.00% cut of principal and interest rates on Eurobond holders.</p><p>He said this is part of a broader strategy to “Close the Page” in reaching an agreement with all the actors in restructuring Ghana’s external debt.</p><p><strong>Challenges ahead</strong></p><p>Concerns have been expressed about the negotiation with the Eurobond holders unlike the Domestic Debt Exchange Programme and deal with the bilateral creditors.</p><p>However, the Finance Minister believes that a lot of work has been done over the past months to convince the Eurobond investors to accept the government’s offer.</p><p>He is hopeful negotiations with the bilateral creditors and the Eurobond holders will be finalised by the end of March 2024.</p><blockquote><p>I was initially hoping to finalise the negotiations with all these creditors in December 2023, but looking at the way things are going now, the end of the first quarter is feasible”, the Minister added.</p></blockquote><p>Some analysts have argued that finalising these negotiations may be critical in helping Ghana pass the second review under the International Monetary Fund (IMF) programme.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-52475940798263735252023-11-06T04:51:00.004-08:002023-11-06T04:51:56.672-08:00Northern Regional Minister Commends GNECS<p> The Northern Regional Minister, Shani Alhassan Shaibu, has lauded Ghana National Egg Campaign Secretariat (GNECS) for continuously promoting the consumption of eggs for good health.</p><blockquote><p>I have followed your campaign and I appreciate the message of good health being promoted. It is heartwarming to learn that egg can be used to prepare any and every dish and its nutritional value is unmatched.” he remarked.</p></blockquote><p>The Northern Regional Minister made the remarked when he visited the stand of GNECS at the 13th annual Pre-Harvest Conference and Exhibition at the Agrihouse Agri-Village at Bamvim near Tamale.</p><p>The event was organized by Agrihouse Foundation in partnership with the Northern Regional Coordinating Council (NRCC), and was on the theme, ''Connecting the Unconnected- The Farmer, The Input Dealer, The Agri-Processor''.</p><p>The minister also commended the organizers of the event adding that the event was important because over the years, the exhibitions had been able to highlight key issues such as harvesting and post-harvesting, which were relevant to the agricultural value chain.</p><p>Other notable visitors at the GNECS stand included Hajia Hawa Musah, the Regional Agric Director, Regional Department of Agriculture, Alhaji Mashud Mohammed, the National Best Farmer for 2021, and Ms. Theresa Randolph, the Country Director for Yara Ghana.</p><p>Over 1000 individuals, including curious visitors, students, researchers and tourists, who also visited GNECS stands were served with various kinds of egg dish on day one of the exhibition.</p><p>The three-day event, which took place from October 24 to 26, 2023, was aimed at building the capacity of farmers and other key players in the agricultural industry.</p><p>GNECS was among over 100 firms made up of commercial farms, agro-chemical firms, fertilizer companies, financial institutions, and state food-related and scientific research institutions exhibiting their products and services during the 3-day period.</p><p>Not only did the patrons benefit from eating dishes made from eggs, but the GNECS also employed the services of a nutritionist from the Ghana Health Service who provided education on the benefits of consuming eggs regularly. Flyers containing information of egg and egg consumption were also distributed.</p><p>As the leading institution marketing the consumption of eggs, GNECS aims to expand the trade in eggs, create awareness through myth busting and education on the benefits eggs and encourage the consumption of eggs.</p><p>Ghana National Egg Campaign Secretariat was established when the United States Department of Agriculture (USDA) and the American Soy bean Association (ASA) funded project-AMPLIFIES came to a close in 2019.</p><p><strong>Propelling agriculture</strong></p><p>The Executive Director of Agrihouse Foundation, Alberta Nana Akyaa Akosa, in a speech read on her behalf at the launch by the Growth and Partnership Lead of the Foundation, Michael Opuni Frimpong, said the event would serve as a hub for forging vital partnerships, elevating industry practices and propelling the agriculture sector.</p><p>She indicated that this year’s event marks a significant milestone for the foundation, as it has relocated from the traditional venue, the Aliu Mahama Sports Stadium, to the Agrihouse Agri-Village at Bamvim near Tamale.</p><blockquote><p>We are very hopeful that it will open new horizons for innovation, collaboration and expanded opportunities within the community and agricultural sector at large,” she said.</p></blockquote><p>While commending the NRCC and its partners for the support, Ms. Akosa urged agribusinesses and all actors in the agriculture value chain to take advantage of the event to network and connect with potential partners and investors.</p><p>The event was expected to attract more than 4,000 participants across the agricultural value chain including seed suppliers, farmers, traders, processors, transporters, wholesalers, retailers and final consumers.</p><p>It also offered training and capacity sessions for farmers, while creating market links for farmers and producers of commodities such as yam, maize, rice, millet, sorghum, soybean, cowpea, cashew and shea.</p><p>Additionally, there were field demonstrations, where farmers and actors had practically learned, appreciated and adopted best practices in farm management.</p><p>Now in its 13th year, the Annual Pre-Harvest Conference and Exhibition has become a prominent and highly impactful event on the Ghanaian Agribusiness calendar.</p><p>Sponsors for this year’s event include YARA Ghana, GIZ-EUGAP, Interplast, and others. These sponsors have played a vital role in making this event possible and in supporting the growth and development of agriculture in Ghana.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-5314132988700612452023-10-24T08:20:00.002-07:002023-10-24T08:20:31.752-07:00GNECS marks world egg day in Accra <p> The Ghana National Egg Campaign Secretariat (GNECS) has marked this year's World Egg Day with a float on some principal streets of Accra-Ghana with a call to Ghanaians to increase their daily egg consumption for a healthy life.</p><p>GNECS National Coordinator, madam Comfort Acheampong, observed the second Friday in October was used to celebrate the World Egg Day and this year, the secretariat decided to celebrate it with the public by sharing over 3000 boiled eggs to the public.</p><blockquote><p>We are here to celebrate egg which is a super food. All stakeholders in the egg value chain came together to celebrate this day.”</p><p>We came to [Nkrumah] Circle which is a central point for travelers across the country to celebrate the day with the public and we have distributed over 3000 boiled eggs to mark the day,” she stated.</p></blockquote><h2><strong>Benefits of eggs </strong></h2><p>Sharing some health benefits of eggs, the Municipal Nutritionist at Korle Klottey, Zanno Billey, said eggs helped in brain development and also helped with muscle development and bone strength.</p><blockquote><p>It also helps with heart health and helps people who are on a weight loss journey,” she stated.</p></blockquote><p>She therefore urged the public to consume more eggs, noting that the country was not consuming enough eggs.</p><p>On her part, the President of the Apex body of Women in Poultry Value Chain (WIPVaC), Dr. Victoria Norgbey, lamented that the high cost of feed, coupled with other challenges, is threatening the survival of the country’s poultry industry.</p><p>She said although the sector was faced with numerous challenges, the most important one was the cost of feed which has caused a lot of poultry farms to be producing 50 per cent below capacity.</p><p>In an interview with the Graphic Business at a ceremony to mark the World Egg Day, she said the capital needed to produce 10,000 birds in the past could not even produce 5000 birds now, a situation which has affected their capacities greatly.</p><blockquote><p>Most farmers are now producing below capacity and that is the reason why eggs are sometimes scarce on the market so it is our hope that things will improve soon,” she stated.</p></blockquote><p>She said despite the challenges, the industry players were willing to push harder, stating that “it’s a business we have entered into and there is no going back so we will sail through the challenges.”</p><blockquote><p>We are calling on all stakeholders and the government to support us and put in place various strategies and policies to revive the sector,” she stated.</p></blockquote><p>She noted that government had already announced some initiatives which were yet to be implemented, adding that the industry was looking forward to the implementation of some of them.</p><p>She said key among the initiatives that the industry was looking forward to was the implementation of the biosecurity certification.</p><p>She said when this was done, it would curb the rate of diseases that they encountered on their farms.</p><blockquote><p>Once our birds are healthy, then you are sure you can get more eggs,” she stated.</p></blockquote><p>She also used the opportunity to wish all the poultry farmers well, assuring all stakeholders that things would improve soon.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-90192428820159938472023-10-24T05:34:00.000-07:002023-10-24T05:34:04.067-07:00Ecobank Ghana disburses $600 million via XpressLoan, incurs $24 million unrefunded loans<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnwiGENQYsgMNveM0b8bxTZqAZWnw7GxDC6wuxREKjNqom9EN-WbLnK7B9OIP7PH9NCIRCUTLwKkfKfUpeyVbR69MofMXqzFn7uGzngHTnecUINCI4dWSZQFpvGMjiUUzyKnrrWTMQjcdHsIwcbLCdoi0Mn4wK3n2s4_57BWmYkH2zbKSKvuzGBL9nAHQ/s600/Owuraku%20Asare,%20Snr.%20Banker%20and%20Digital%20Transformation%20Specialist,%20Ecobank%202.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="403" data-original-width="600" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnwiGENQYsgMNveM0b8bxTZqAZWnw7GxDC6wuxREKjNqom9EN-WbLnK7B9OIP7PH9NCIRCUTLwKkfKfUpeyVbR69MofMXqzFn7uGzngHTnecUINCI4dWSZQFpvGMjiUUzyKnrrWTMQjcdHsIwcbLCdoi0Mn4wK3n2s4_57BWmYkH2zbKSKvuzGBL9nAHQ/s320/Owuraku%20Asare,%20Snr.%20Banker%20and%20Digital%20Transformation%20Specialist,%20Ecobank%202.jpg" width="320" /></a></div><br /><strong>Ecobank Ghana has to date disbursed almost US$600 million to 3.2 million Ghanaians via its micro loans product, XpressLoan on MTN Mobile Money, with some 3.99% (US$23.94 million) non-performing loans rate.</strong><p></p><p>Senior Banker and Digital Transformation Specialist at Ecobank, Elhanan Owureku Asare disclosed this during the FinTech Summit at the just-ended Mobile World Congress Africa 2023 in Rwanda.</p><p>Ecobank Ghana, in collaboration with MTN MobileMoney Limited and Jumo set up XpressLoan about four years ago to provide affordable and collateral-free microloans to petty traders and individuals at an interest rate of 6.9% refundable in 30 days via the MTN MoMo platform.</p><p>According to Owureku Asare, the scheme has so far benefitted some 3.2 million Ghanaians with average loan of about US$34.71 per person.</p><p>Over time, however, some customers started defaulting on repayments by either refusing to top up their mobile wallets when repayment is due, or by simply throwing their respective SIM cards away just to avoid repaying the loan all together.</p><p>Former Ecobank Ghana Managing Director, Dan Sackey, last year expressed worry over the significant levels of unrefunded loans on the XpressLoans platform and called on the media to educate the public about the need to refund their microloans so that others can also benefit.</p><p>Whereas US$23.94 million in unrefunded microloans is relatively small, compared to the US$600 million disbursed so far, it is still a very significant amount of money to have gone unrefunded.</p><p>Moreover, at 6.9% interest rate, Ecobank and its partners were supposed to have made some US$41.4 million profits from those loans. So, US$23.94 million unrefunded loans, leaves them with only US$17.46 million.</p><p>But Owureku Asare tells Techfocus24 that the rate of non-performing loans (NPLs) on the XpressLoan platform has seen a significant decrease in recent times because Ecobank and its partners have put measures in place to stem the NPL incidents.</p><p>He explained that while the loans are collateral free, the quality of customers’ data collected and the science behind the whole enterprise is enough collateral for Ecobank and its partners to ensure more than 95% refund rate.</p><p>Indeed, there is a system in place, all the way to the regulatory level, where defaulters of Xpressloans and other MoMo loans are refused other financial services until they refund those loans.</p><p><strong>US$5,000 MoMo Loan pilot</strong></p><p>Owureku Asare said based on the success story of XpressLoan in Ghana, it has been replicated in other markets, and currently the bank is even piloting a US$5,000 digital loan product in Rwanda, which will also be replicated across all of its 33 operational markets in due course.</p><blockquote><p>We are taking the notch even higher. We believe it should be possible for small businesses to access up to US$5,000 loan on the mobile money platform, and our colleagues in Rwanda are currently piloting that product.</p></blockquote><p>He later told Techfocus24 that the product is being piloted directly with a Fintech called OZE and the customer data being use is directly from Ecobank and not from a mobile money operator.</p><p>Owureku Asare said once the pilot is done the product will be replicated across markets, including Ghana, just like XpressLoan was replicated in other markets after its success in Ghana.</p><p><strong>US$84 billion digital transaction value</strong></p><p>Meanwhile, according to Owureku Asare, by the close of 2022, Ecobank recorded US$84 billion worth of digital transaction, saying that US$59 billion of that amount was recorded in just the first months of that year.</p><p>He said currently, over 94% of all transactions across the 33 markets of Ecobank are digital, adding by the close of 2023, the bank expects to record over US$120 billion in digital transaction value.</p><p>Owureku Asare said this has been made possible because Ecobank invested in building a formidable digital ecosystem to ensure that its customers across all markets are able to transfer money and make payments with ease, no matter where they are in the world.</p><p>According to him, Ecobank leverage national platforms in all the countries of its operations to ensure customers have access to instant payments, where it is available, and also systems that offer settlements within specific turn around times.</p><p>He said Ecobank’s strategy is Africa, and the commitment is to use digital to transform businesses and individual lives. </p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-15079328185301519662023-10-24T05:30:00.001-07:002023-10-24T05:30:13.454-07:00Zenith Bank shines bright – a double triumph at 2023 Global Brand Awards<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVh-NKIO1Bjx0xEopTxfJyJoqWCVlNFtzUTfFOO9K8fpZc4bJJJ-lfTPZHW2PGIz72PHNoWpU3faXVwcrbuh6gDGa4r_j-VhQ945MCOEN2snR4ElonAY_IBemLTChYdAjcMquzKWRnmDRKDC8uhz7U6m8rQG-vURI-KFInlD0vmXTW-XMigXF3_G7JiVY/s750/Global-Brands-Image2-750x375.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="375" data-original-width="750" height="160" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVh-NKIO1Bjx0xEopTxfJyJoqWCVlNFtzUTfFOO9K8fpZc4bJJJ-lfTPZHW2PGIz72PHNoWpU3faXVwcrbuh6gDGa4r_j-VhQ945MCOEN2snR4ElonAY_IBemLTChYdAjcMquzKWRnmDRKDC8uhz7U6m8rQG-vURI-KFInlD0vmXTW-XMigXF3_G7JiVY/s320/Global-Brands-Image2-750x375.jpg" width="320" /></a></div><br /> In a world where trust, reliability, and customer-centricity are the pillars of success in the banking industry, Zenith Bank stands tall as a beacon of excellence.<p></p><p>The Bank’s recent recognition at the 2023 Global Brand Awards as the Best Corporate Governance Company and the Best Retail Bank for Customer Service is evidence of its unwavering commitment to transparency, accountability, and customer satisfaction.</p><p><strong>Exceptional Corporate Governance</strong></p><p>At the heart of Zenith Bank’s remarkable success is its governance structure. The Bank’s Board of Directors comprises of individuals with diverse skills and expertise, extensive knowledge in various fields of discipline and independence. This ensures a well-rounded approach to decision-making, safeguarding the interests of both shareholders and customers.</p><p>Transparency and disclosure are also cornerstones of the Bank’s operations. Zenith Bank consistently provides clear and comprehensive information about its financial performance, risk management strategies and governance structure. This transparency builds trust and confidence among stakeholders.</p><p>Ethical behaviour is woven into the fabric of the Bank’s culture. With a well-defined code of ethics and conduct, employees, board members, and executives adhere to high ethical standards, fostering a workplace that values integrity and fairness.</p><p>Beyond its provision of financial services, Zenith Bank is deeply committed to the communities it serves. Through various community engagement initiatives, the Bank showcases its dedication to the well-being of the people in the localities in which it operates, emphasizing that it’s not just about profit but about making a positive impact.</p><p><strong>Outstanding customer service</strong></p><p>Zenith Bank has redefined what it means to provide exceptional customer service. The Bank consistently exceeds customer expectations, demonstrating an unwavering commitment to customer satisfaction. Here’s how the Bank achieves this:</p><ul><li><strong>Innovative Solutions:</strong> The Bank introduces innovative solutions and technologies that enhance the customer experience. From user-friendly mobile apps to online tools and interactive educational resources, Zenith Bank is at the forefront of technological advancement in banking.</li><li><strong>Accessible Multichannel Support:</strong> In addition to in-person interactions and in-branch feedback mechanisms, Zenith Bank provides accessible customer support through the Bank’s 24hr Customer Contact Centre – Zenith Direct, which enables customers to engage the Bank via phone calls, live chat, email, and social media for assistance and resolution of challenges.</li><li><strong>Personalization:</strong> Zenith Bank delivers personalized experiences that cater to individual customer needs, preferences, and financial goals. Customers feel valued, knowing that their unique circumstances are understood and appreciated.</li><li><strong>Recognition and Awards:</strong> Zenith Bank has received numerous local and international recognition, awards, and accolades for its outstanding customer service practices from reputable industry organizations and publications. This speaks volumes about the bank’s dedication to putting customers first.</li></ul><p><strong>Connecting excellence to performance</strong></p><p>Zenith Bank’s sterling financial performance in the Second Quarter of the year complements its recognition at the Global Brand Awards.</p><p>In the first half of 2023, Zenith Bank achieved exceptional results driven by strategic initiatives. The bank’s profit before tax doubled to GH¢493.7 million, reflecting the bank’s strategic vision and customer-centric approach. After taxes, profit soared to GH¢434.3 million, with earnings per share at GH¢0.11. The Bank’s financial position remained robust, with total assets growing to GH¢11.5 billion, and customer deposits increasing by 39 percent. Zenith Bank also maintained a strong capital adequacy ratio of 26.10%, above the 10 percent regulatory limit and industry average of 14.3 percent as at June 2023.</p><p>The Bank’s commitment to excellence in corporate governance and customer service directly translates into impressive financial results. By fostering transparency, ethical behaviour, community engagement, and innovative solutions, amongst others, Zenith Bank creates a conducive environment for growth and prosperity.</p><p><strong>More honors in the trophy case</strong></p><p>The Global Brand Awards are just the latest additions to Zenith Bank’s impressive collection of accolades. In 2023 alone, the bank has also been honoured with the Best Banking Group 2023 award by World Finance, the Financial Institution of the Year award at the Ghana-West Africa Business Excellence Awards, Banking Brand of the Year award at the Ghana Corporate Brands Awards, 5-Stars in Service Quality and Customer Satisfaction in Business Banking as well as Consumer Banking at the 2023 Chartered Institute of Marketing (CIMG) Ghana awards among others.</p><p>Additionally, the Bank’s MD/CEO, Mr. Henry Chinedu Onwuzurigbo, received the Outstanding Private Sector Leadership Personality of the Year (Finance) award at the 2023 Ghana Corporate Brands Awards.</p><p>Zenith Bank’s achievements underscore its commitment to excellence, setting a shining example for the banking industry both in Ghana and on the global stage. As the Bank continues to innovate, serve its customers, and uphold the highest standards of corporate governance, its future is undoubtedly as bright as its recent accolades suggest. Zenith Bank is not just a bank; it is a trusted partner in financial success.</p><div class="jeg_post_source"><em><strong>Source: <a rel="nofollow" target="_blank">Zenith Bank Ghana</a></strong></em></div>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-70917691975722580532023-10-24T05:11:00.001-07:002023-10-24T05:11:15.727-07:00Bridging the digital gap in Africa – Eben Asante calls for action beyond the rhetoric<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH1xsfT-Ptx67PgLRTlWz_gGM1jAV-Q4m3484OOeDrpelg7lcqag7-sABvAvC-dw_JaQ2BGZSQJUxyjgfM8zF2Zr1LRYn_ggnVm0zR6GWMsRuOr9bN2hUFfEuqK2joPuWtjSCkC9rqWp6GmtnvGHjl-s8JOw_1MNE27bSMpHLi6dp2d6e_i7ocT5V3ePs/s690/Ebenezer%20Twum%20Asante%20-%20Senior%20Vice%20President%20-%20Markets,%20MTN%20Group.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="478" data-original-width="690" height="222" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH1xsfT-Ptx67PgLRTlWz_gGM1jAV-Q4m3484OOeDrpelg7lcqag7-sABvAvC-dw_JaQ2BGZSQJUxyjgfM8zF2Zr1LRYn_ggnVm0zR6GWMsRuOr9bN2hUFfEuqK2joPuWtjSCkC9rqWp6GmtnvGHjl-s8JOw_1MNE27bSMpHLi6dp2d6e_i7ocT5V3ePs/s320/Ebenezer%20Twum%20Asante%20-%20Senior%20Vice%20President%20-%20Markets,%20MTN%20Group.JPG" width="320" /></a></div><br /> <strong>Vice President, Markets, at MTN Group, Eben Asante has said that for Africa to be able to bridge the yawning digital gap and also leapfrog the risks that digitalization presents, stakeholders must move away from the rhetoric and start taking decisive and purposeful actions to get the job done.</strong><p></p><p>He was delivering a keynote address at the just-ended Mobile World Congress Africa (MWCAfrica) 2023 at the iconic Kigali Convention Center in Rwanda.</p><p>The theme for the three-day conference was Velocity: Unleashing Tomorrow’s Technology Today, and it focused on four key sub-themes of Accelerate Africa, Fintech, Healthtech and Powering Digital.</p><p>What emerged prominently in all the keynote addresses and sessions over the three-day period was that there is a huge connectivity gap in Africa, and even among the few who are actually connected, just about 25% use data, which leaves a yawning usage gap due to a number of factors, mainly affordability, lack of digital skills, relevance (language barrier), and safety/security concerns.</p><p>The significance of Rwanda hosting the industry gathering, was however the silver lining, in that Rwanda is largely revered for being a good example of what practical and decisive actions as well as real public-private sector collaboration is doing to bridge the digital gap in Africa.</p><p>Indeed, Eben Asante, like other speakers noted that “…Rwanda presents a living and seminal example to the continent and the world” on what African countries must to do to bridge the digital gap.</p><p><strong>The Digital Gap</strong></p><p>He noted that per recent GSMA reports, more than 75% of people in Africa are not connected, which is almost a billion people including half of the adult population and several children.</p><p>Eben Asante also stated that per MTN’s own readings, about 90% of connected people use their phones for mainly voice calls, while a combined usage of phones for voice, data and digital finance (mobile money) is below 20%.</p><blockquote><p>So the digital divide is real and it is clear and there is much work to be done by us all,” he said. “The future looks very challenging but also presents opportunities in health, agriculture, education, financial services, government and governance, industry and everyday life for African citizens,” he said.</p></blockquote><p>He said it is time for African countries to stop describing the challenge they face as a digital gap because “it is more about bridging the gap of inhumanity: rural-urban gap, male-female gap, the north and south gap, the haves and have nots gap – that is the real gap of inhumanity we must bridge with digitalization as a tool.”</p><p><strong>MTN is Doing</strong></p><p>Eben Asante said MTN is already committed to closing the coverage and usage gaps, adding that just last year MTN brought some 45 million people under coverage in 3G and 4G, with nine million of them being under 4G alone.</p><blockquote><p>We covered 88% of the population last year and by 2025 we have a target to cover 95% of the population with advanced technology,” he said.</p></blockquote><p>MTN, according to him, has also reduced its effective data prices by 22% across board and is working towards a ‘digitalizing everything economy’ by collaborating with Mastercard to reach at least 100 million Africans with mobile finance services by year 2025.</p><p><strong>Enabling Environment </strong></p><p>He however noted that all the great plans operators like MTN have would require an enabling environment by governments, as well as the right partnerships and collaborations.</p><p>In terms of creating an enabling environment, Eben Asante said MTN has a number of proposals:</p><p><strong>Spectrum</strong></p><p>First, government spectrum roadmaps should ensure sufficient spectrum to meet the sharp rise in demand for mobile and data services, and that should include speedy access to mid-band spectrum, particularly 3.5MHz, given its importance to the future of 5G low latency to support the digitalization of everything work.</p><p>“There is also a need to prioritize the acceleration of access to sub-1GHz spectrum to provide widespread rural mobile broadband service,” he said.</p><p><strong>Taxes</strong></p><p>Secondly, there is a need to apply best pro-digital-growth tax, tariff and fiscal principles to facilitate the rapid digitalization, adding that “we should not strain the goose that lay the golden eggs.”</p><p><strong>Regulation</strong></p><p>Eben Asante also emphasized the need for a “fair and transparent regulatory regime”, which he said requires a continuous dialogue even as technologies such as those in non-terrestrial gain interest.</p><p>Speaking of non-terrestrial technology gaining interest, Elon Musk’s Starlink is gradually rolling out its satellite-enabled internet services in Africa, and there have been hints of him turning his X (Twitter) platform into a payments platform, which will then make it difficult for regulators to keep him in check. Some experts have earlier said that this requires dialogue, like Eben Asante said, and not a high-handed regulatory stance.</p><p><strong>Power supply</strong></p><p>Lastly, Eben Asante thinks African governments need to facilitate the provision of reliable and efficient grid power and energy mixes to power the digitalization drive.</p><blockquote><p>With these policy changes in place, we will be able to work side by side with you all as the continent leapfrogs previous generations in adopting digital solutions faster and, more importantly, out of necessity,” he said.</p></blockquote><p><strong>Rwandan Example </strong></p><p><em>President Paul Kagame delivering his keynote address at the opening of MWCAfrica 2023</em></p><p>In his keynote address, President of Rwanda, Paul Kagame related how his government created the enabling environment for Airtel Rwanda and MTN Rwanda to provide very affordable data packages that is “within the reach of every Rwandan”.</p><p><img alt="digital gap, Eben Asante, World Congress Africa, Rwanda" class="size-medium wp-image-19102 alignright" height="227" src="https://businessweekghana.com/wp-content/uploads/2023/10/President-Paul-Kagame-delivering-his-keynote-address-at-the-opening-of-MWCAfrica-2023-300x227.jpg" width="300" />Based on the enabling environment, including the removal of nuisance taxes and other pragmatic policy frameworks by the Rwandan government, MTN Rwanda has rolled out a scheme called Macye Macye, which enables ordinary Rwandans to buy 4G enabled smartphones on credit and also receive very affordable data packages.</p><p>The Rwandan government also facilitated a $20 million grant from the Co-Founder and Executive Chairman of Netflix, Wilmot Reed Hastings Jr, that has enabled Airtel Rwanda to provide 4G LTE smartphone at an affordable price of $16.7, plus 1G data per day at only $1.</p><p> </p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-43672439634478770652023-10-24T05:05:00.001-07:002023-10-24T05:05:07.217-07:00Lands Minister leads delegation to 2023 China mining conference on investment drive<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIckp-J8VAB2gs1maV-23JP8uZAt8j6S8rTvyhgyxZVnrUTV_g4z29iiXKOAcTgqEfR2kC51_nae-kc9xqvrnoB5ecl1Ps3uORWdSlNus5sS-G-n0D6Lg0IdTJh3PMnRqt5_BjO8jymDCcGd3KUo_VxmStMarjeNajRCIkV5JzHbtjd9ZRSyB2EEXjHdQ/s750/142A0658-750x375.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="375" data-original-width="750" height="160" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIckp-J8VAB2gs1maV-23JP8uZAt8j6S8rTvyhgyxZVnrUTV_g4z29iiXKOAcTgqEfR2kC51_nae-kc9xqvrnoB5ecl1Ps3uORWdSlNus5sS-G-n0D6Lg0IdTJh3PMnRqt5_BjO8jymDCcGd3KUo_VxmStMarjeNajRCIkV5JzHbtjd9ZRSyB2EEXjHdQ/s320/142A0658-750x375.jpg" width="320" /></a></div><br /> The Minister for Lands and Natural Resources, Samuel A. Jinapor, is leading a delegation of government officials and individuals from the private sector to attend the 25th China Mining Conference and Exhibition, to be held in Tianjin, China, from October 26 to 28, 2023.<p></p><p>Since its inception in 1999, the Conference has become one of the foremost and influential mining forums across the globe. It brings together governments, investors, and other industry players to discuss and share ideas on the latest developments in the mining sector.</p><p>This year, the Conference is being held under the theme “Innovation Promotes High-Quality Development of Mining.” More than 10,000 delegates and 400 exhibitors are expected to attend.</p><p>Ahead of the Conference, on Tuesday, October 24, 2023, the Minister will meet with selected mining investors to pitch Ghana’s mining industry as an attractive investment destination.</p><p>He will also visit the operational sites and meet with the senior leadership of some of the Chinese mining companies with interests in Ghana, including the Shandong Gold Group, operators of the Cardinal Namdini Project; Chifeng Jilong, owners of Golden Star Resources; and Tianyuan Manganese Industry Group, operators of Ghana Manganese Ltd.</p><p>On Thursday, the Minister will join the Chinese Minister for Natural Resources, Wang Guang Hua, and the Chairman of the China Mining Association, organizers of the Conference, for the formal opening of the conference. He will also participate in a Minister-to-Minister Forum, where he will speak on developments in the Ghanaian mining industry, especially as it relates to green minerals.</p><p>At the Country Promotion Session on Friday, the Minister will speak on the theme, “Leveraging Over a Century of Mining to Enhance Value Addition For The Development of Ghana.” He will make a case for increased investment in the value chain of the mining industry in Ghana, particularly value addition.</p><p>This is the first time the Conference is being held fully in-person since the pandemic, and Ghana is taking advantage of it to promote its mining industry to support the country’s recovery.</p><p>Other members of the delegation include the Board Chairperson and the Chief Executive Officer of the Minerals Commission, the Chief Executive Officer of the Minerals Income Investment Fund (MIIF), and members of the Parliamentary Select Committee on Mines and Energy.</p><div class="jeg_post_source"><em><strong>Source: <a rel="nofollow" target="_blank">Ministry of Lands and Natural Resources</a></strong></em></div>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-57943978235924394502023-10-20T09:20:00.003-07:002023-10-20T09:32:04.301-07:00Payment of compensations will be linked to biosecurity on farms- VET Dir.<p> The Greater Accra Regional Director for the Ghana Veterinary Services, Dr. Joseph Kofi Abuh, has reiterated that the payment of compensations on disease affected farms will be premised on the adherence of biosecurity on the farms.</p><p>He adding that government used over GHc44m to pay compensations during the avian influenza outbreak in the country therefore the implementation of the biosecurity on the farms will help reduce the government’s expenditure.</p><blockquote><p>If you don’t have biosecurity on your farm and there’s an outbreak, you will not receive any compensation when your birds are destroyed” he warned.</p></blockquote><p> Dr. Abuh was speaking in an interview during a network session organized by the Apex body of Women in Poultry Value Chain. The event was aimed at providing a platform for WIPVaC- Apex Ghana members to socialize and familiarize themselves with the impending implementation of the biosecurity certification in the country.</p><p>He explained that his outfit is partnering with WIPVaC- Apex Ghana to champion biosecurity certification in Ghana because of antimicrobial resistance, adding that poultry and other livestock farmers are using a lot of antibiotics that are passed on to human beings through consumption. He further explained that the danger is that these individuals become resistant to antibiotics when they fall sick.</p><blockquote><p>When they visit the hospital and are given antibiotics, it is not effective on them due to the excessive consumption of microbials from animal protein; the solution is the biosecurity,” he explained.</p></blockquote><p>According to him, when the biosecurity certification is implemented, it will help the farmers to reduce the use of antimicrobials on their farms because when a farmer practices isolation, he is preventing germs from coming into the farms and also preventing the infection of other farms”.</p><p>The National President of WIPVaC, Dr. Victoria Norgbey, stressed that the implementation of the biosecurity on the livestock farms will greatly impact the quality of production of livestock for the Ghanaian market.</p><p>"The certification will enable the insurance and financial institutions to lower the risk level when farmers are accessing these products and we ourselves will have efficient production and maximize profit as well as adequately meet the protein needs of the country.”</p><img alt="WIPVaC, Bono, ASA, WISHH" class="wp-image-18771 size-medium" height="199" src="https://businessweekghana.com/wp-content/uploads/2023/10/Dr.-Mrs.-Victoria-Norgbey-President-Women-in-Poultry-Value-Chain-1024x678-1-300x199.jpg" width="300" /> <div>President of WIPVaC-Apex Ghana, Dr. Victoria Norgbey<blockquote><p>Now we have a roadmap that we can use for advocacy, engage with the policy makers and duty bearers,” she sounded happy.</p></blockquote><p>Madam Marian Mamle Tetteh-Larnoh a pig farmer and a member of African Women in Agribusiness (AWIA), on her part urged all livestock farmers to have biosecurity on their farms.</p><blockquote><p>Every farmer needs to have biosecurity on the farm to prevent disease as well as protect the farms. If you don’t it will bring a lot of mortalities to the farm,” she warned.</p></blockquote><p>Background</p><p>The Livestock Development Policy and Strategy for Ghana was introduced in 2016. Even so, farms are still being attacked by poultry diseases like Gumboro, Newcastle, and Chronic Respiratory Disease. Due to this, the government spent over GHc17 million to compensate livestock farmers for killing about 554,638 poultry birds due to avian influenza outbreaks.</p><p>The Ghana Livestock Development Policy and Strategy has not yet begun due to lack of action plan and funding and the veterinary services and animal improvement bills have not yet been introduced to Parliament. Also, the Agricultural Extension Agents (AEAs) and livestock farmers in Ghana lack access to biosecurity checklists for their use. With this, a document has been drafted for poultry bio-certification and is awaiting approval.</p><p>As a result of the AEA and health officers' lack of enforcement, many livestock farmers do not adhere to the biosecurity protocol and they get away with it easily. The biosecurity protocol isn't always followed by livestock farmers because the AEA and health officials don't enforce it. These farmers escape punishment because of inefficient enforcement agencies, operational difficulties, and a lack of coordination between the agricultural and health departments.</p><p>Issues like lax biosecurity enforcement and a lack of bio certification for livestock farms were addressed in the Ghana Livestock Development Policy and Strategy. The policy acknowledges that the Diseases of Animals Act needs to be updated and is out of date.</p><p>To increase productivity through regulation, the Ministry of Agriculture has committed to ensuring that veterinary medications are of the proper quality and quantity and are administered in accordance with producer recommendations. By 2021, it also promised to reach all clusters of livestock production, including smallholder farmers in underdeveloped areas, but this has not been done yet.</p><p>An alternative policy raised by the stakeholders was that, regulations for routine livestock movement are to be implemented in order to stop the spread of agents that might cause disease since routine livestock movement permits are not mentioned in the Ghana Livestock Development Policy and Strategy 2016.</p><p> </p></div>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-26726104066224812442023-10-20T05:03:00.003-07:002023-10-20T05:03:59.020-07:00GOIL PLC commissions 5 Auto Gas stations nationwide<p> GOIL PLC has officially commissioned five Auto Gas stations simultaneously at five specific locations nationwide at a colourful ceremony held at the Burma Camp GOIL service station, Accra, on Wednesday, October 18, 2023.</p><p>The five locations include the Cape Coast By-Pass in the Central region, the GOIL Burma Camp and Kpeshie service station in the Greater Accra Region, Paco Gas station, Takoradi in the Western Region (yet to be approved by NPA), and Kentinkrono, Kumasi in the Ashanti Region.</p><p>This move by GOIL is in preparation of the full implementation of the government’s cylinder recirculation module (CRM) policy, which aims to ensure that by 2030—50percent of Ghanaians have access to safe, clean and environmentally friendly liquefied petroleum gas.</p><p>Speaking at the opening of the new gas stations in Accra, the Group CEO of GOIL PLC, Kwame Osei-Prempeh, said GOIL is at the forefront of meeting all the supply chain requirements set by the NPA. This commitment is demonstrated through the construction of two Cylinder Bottling Plants, one in Kumasi and another in Tema, as well as the establishment of the five modern Auto Gas stations.</p><p>He further explained the sites were selected because they meet the necessary criteria, including approval from the Land Use & Spatial Planning Authority, compliance with National Petroleum Authority (NPA) regulations, profitability, and ensuring that customers in different areas have access to modern and safe gas facilities.</p><div data-google-query-id="CKu--4TDhIIDFRHw7QodvlIIfg" id="in-article"><div id="google_ads_iframe_/1002554/Myjoyonline/mjo-article-left_rectangle_mid1_0__container__"> </div></div><figure class="wp-block-image size-full"><img alt="" class="wp-image-10032396851 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2023/10/WhatsApp-Image-2023-10-18-at-20.26.29-1.jpeg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2023/10/WhatsApp-Image-2023-10-18-at-20.26.29-1.jpeg" /></figure><blockquote><p>The Modern Auto Gas Stations are designed based on current construction procedures and international safety standards. The technical experts used Gas Leakage Detection Alarms, Loading Arms, Sprinkler Systems, Automated and Emergency Shut-Off Valves coupled with underground LPG storage tanks fitted with standard equipment. The reason for the choice is to ensure the risk of LPG leaks with the resultant fire accidents and explosions are reduced to the barest minimum. The Modern Auto gas Stations will reduce manual handling of the opening and closing of valves, which makes them a safer option for dispensing of LPG into vehicles in Ghana,” Mr. Osei-Prempeh stated.</p></blockquote><p>He also mentioned that talks between GOIL's Technical and Special Products Department and the NPA highlighted the importance of adding cylinder filling stations to the project. This is necessary to ensure that GOIL can continue providing safe cylinder filling services to its LPG customers until the complete rollout of the CRM.</p><figure class="wp-block-image size-full"><img alt="" class="wp-image-10032396852 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2023/10/WhatsApp-Image-2023-10-18-at-20.30.15.jpeg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2023/10/WhatsApp-Image-2023-10-18-at-20.30.15.jpeg" /></figure><p>Mr. Osei-Prempeh added that the commissioning of the facilities will further strengthened and widen the company’s portfolio and consolidate gains already made in the LPG business, saying, “as an indigenous company, GOIL will continue to do its business in the national interest and ensure that the interest and safety of our consumers always come first”.</p><p>Speaking on behalf of the sector Minister, Matthew Opoku Prempeh, his Deputy Minister for Energy, Andrew Kofi Egyapa Mercer, congratulated GOIL Plc for achieving this milestone, an accomplishment the entire nation takes pride in.</p><p>He said the commissioning of this modern Auto Gas station here in Burma Camp and by extension the other four stations in Kpeshie, Cape Coast, Takoradi and Kumasi marks a significant achievement in the implementation of energy policy as it pertains to the transport sector in Ghana.</p><figure class="wp-block-image size-full"><img alt="" class="wp-image-10032396853 lazy loaded" data-src="https://www.myjoyonline.com/wp-content/uploads/2023/10/WhatsApp-Image-2023-10-18-at-20.33.35.jpeg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2023/10/WhatsApp-Image-2023-10-18-at-20.33.35.jpeg" /></figure><p>According to him, the opening of these facilities represents a major achievement in the country's energy policy, which has been to adopt natural gas as a transition fuel for power generation and transportation.</p><blockquote><p>GOIL's opening of these modern autogas stations is therefore in full alignment with Ghana's just energy transition pathway to net-zero status. The expectation is that the increased access to safe outlets for the sale and purchase of auto gas in the country will translate into a gradual increase in the usage of gas-powered vehicles nationwide,” he stated.</p></blockquote><p>“It is also the expectation that the association of a trusted indigenous brand like GOIL with auto gas will enhance confidence in the use of gas for vehicle fueling and dispel any existing negative safety-related notions on the use of gas for transportation purposes,” he added.</p><p>Again, Mercer stressed that it is his firm believe that the establishment of more Autogas stations will catalyze the opening of businesses and services such as specialized retrofitting and servicing garages which are necessary to support the gradual migration towards the use of gas to power vehicles.</p><blockquote><p>The attendant increase in employment opportunities in the space will be a significant benefit to Ghana's economy. GOIL PLC has indeed blazed a trail which all OMCS operating in Ghana must follow,” he said.</p></blockquote><p>Esther Anku, a Senior Programme Officer at the NPA, emphasised the facilities would deepen the country’s efforts to ensure 50percent of Ghanaians have access to safe, clean and environmentally friendly liquefied petroleum gas by 2030.</p><blockquote><p>I am very excited to see these facilities come into fruition, But, how they are operated and maintained is crucial”, she added</p></blockquote><p>She, therefore, urged management of GOIL to embrace technological innovations to deliver unrivalled customer experience as well as maintain the safety measures embedded in the facilities.</p><p>The construction of the stations was in partnership South Korea’s Yooju Engineering and Construction Limited.</p><p>The Dealer of the Burma Camp GOIL service station, Aretha Barkers Woode expressed delight and thanked GOIL for using her station to commission all the five Auto Gas stations simultaneously. She urged motorists, household consumers and the general public to patronize the station to experience that best service in Gas and other fuels at the Burma Camp GOIL service station.</p><p>Present at the ceremony were high level Military officers; Industry players; former MD of GOIL, Patrick Akorli; Brand Ambassador of GOIL, Prof Azumah Nelson; Faustina Nelson; former Board Members of GOIL, Board members and management of GOIL Plc; Moses Asaga and Alhassan Tampuli, former CEOs of NPA; OMC boss, Kwaku Agyeman Duah; Executive Secretary of COPEC, Duncan Amoah; officials from NPA, GSA, EPA, GNFS, FID; and some GOIL Dealers.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-40484976791480037362023-10-20T04:56:00.001-07:002023-10-20T04:56:23.638-07:00Abossey Okai Spare Parts Dealers to close shops on November 1, 2023<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEqUtb4BTdxiDxq67NTkpEHixn-NvuIjnh25VTz9WwJeU78NqifHvoSmfCSg83NqMoVoNpzraFd3AAZyrK4VlMh0SfVXkSKMzmAypyGrY2mbEuXUc4znovpuX_KA8PANayuWwUaMeby2ftlIBtCvQMxpe2EXxb_N4TYIXG_zKJE7rdEigBtnMmCLjFcEg/s565/Spare-parts.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="339" data-original-width="565" height="192" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEqUtb4BTdxiDxq67NTkpEHixn-NvuIjnh25VTz9WwJeU78NqifHvoSmfCSg83NqMoVoNpzraFd3AAZyrK4VlMh0SfVXkSKMzmAypyGrY2mbEuXUc4znovpuX_KA8PANayuWwUaMeby2ftlIBtCvQMxpe2EXxb_N4TYIXG_zKJE7rdEigBtnMmCLjFcEg/s320/Spare-parts.jpg" width="320" /></a></div><br />The Abossey Okai Spare Parts Dealers have resolved to close down shops on November 1, 2023, to protest actions by the Ghana Revenue Authority which they describe as an intimidation of businesses.<p></p><p>This latest decision follows a series of engagements with the government to withdraw customs officers and halt the tax invigilation process.</p><p>According to the dealers, all efforts to get the government to listen to their plight have failed and the only option is to close down the shops for days.</p><p>This decision comes as a response to the association's grievances concerning certain decisions taken to enforce tax compliance and surveillance in its sector.</p><p>In a press conference held on October 2, 2023, the association expressed its dissatisfaction with the government and the Ghana Revenue Authority (GRA) for not heeding its calls to reconsider the deployment of a compliance task force to monitor tax compliance within their sector.</p><p>Spokesperson for the Abossey Okai Spare Part Dealers Association, Takyi Addo, in an interview, hinted that the move will be temporary to drive home the demands for a review by the GRA.</p><blockquote><p>The new directive is because the government is refusing to pay attention to our concerns that the GRA must change its style and withdraw with the tax invigilation exercise. It is more like an intimidation to our members and we can no longer bear it”.</p></blockquote><p>“So we will therefore close the shops so that we protest and send our petition to the GRA, Parliament and the Presidency as well,” Takyi Addo told Joy Business.</p><p>The closure is expected to go on for some three days after which a temporary measure will be taken on the situation.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-55206954599463454582023-10-20T04:47:00.001-07:002023-10-20T04:47:40.637-07:00CFAO launches Mitsubishi All-New Outlander<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgHshWJzSA7AcxcuXE_0rs7_hujmC4Y_1DhfOKkf_x4kSfiLgKp54CixHU3F0iaRQpXL_B869DTCL1l1rtmxPn4desHameXceZL5N8noJMO-6ZOOT4UEm96WBKqBSQjg9680g5moz0Rnrs0JpsdXgkXNqNjGtPPS7Lm3jF2W50HYY9Se3pBCYSkUC2gwiw/s424/mit-5-283x424.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="424" data-original-width="283" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgHshWJzSA7AcxcuXE_0rs7_hujmC4Y_1DhfOKkf_x4kSfiLgKp54CixHU3F0iaRQpXL_B869DTCL1l1rtmxPn4desHameXceZL5N8noJMO-6ZOOT4UEm96WBKqBSQjg9680g5moz0Rnrs0JpsdXgkXNqNjGtPPS7Lm3jF2W50HYY9Se3pBCYSkUC2gwiw/s320/mit-5-283x424.jpg" width="214" /></a></div><p></p><p>The much-awaited launch of the 2023 All-New Mitsubishi Outlander, took place at the Mitsubishi Ghana Showroom within CFAO Ghana PLC, the leading multi-brand automobile brand distributor.</p><p>The 2023 Mitsubishi Outlander is a visually stunning and imposing take on a modern SUV. The new reimagined look pushes the bounds of everything you expect in an SUV. The iconic design has been enhanced with substantial proportions, sculpted sides, distinctive rear design, a wide stance, and a stunning, powerful ride that exudes confidence in every square inch.</p><p>The Mitsubishi Ghana showroom was transformed into a ritzy space to welcome invited guests and customers. A Mitsubishi red carpet photo treatment was given to invited guests as they strutted majestically into the showroom. Guests were treated to captivating entertainment with a surprise guest artiste called Offei Music, who held the audience captive with his stimulating story telling musical style.<img alt="" class="wp-image-10032396978 lazy error" data-src="https://www.myjoyonline.com/wp-content/uploads/2023/10/mit-6-1024x682.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2023/10/mit-6-1024x682.jpg" /></p><p>In his welcome statement to invited guests, the Managing Director and Country Delegate, Adedamola Adelabu, expressed his delight in launching the magnificent, award winning Mitsubishi Outlander model and thanked the guests for their presence.</p><div id="vuukle-quiz-container"><div id="vuukle-ad-3"><div class="vuukle-ads"><div class="vuukle-ad-label"> </div></div></div></div><p>He stated that, “Our dedication to the Ghanaian market has seen us as the exclusive distributors of iconic brands that support the movement of people, goods and the backbone of industry.”<img alt="" class="wp-image-10032396979 lazy loading" data-src="https://www.myjoyonline.com/wp-content/uploads/2023/10/Mits-2.jpg" data-was-processed="true" src="https://www.myjoyonline.com/wp-content/uploads/2023/10/Mits-2.jpg" /></p><p>He spoke of the various service offerings and value added services CFAO Ghana provides and further stressed that, “What sets CFAO Ghana apart is not only our extensive inventory of exceptional vehicles and equipment but our customer centric aftersales service.”</p><p>The General Manager for Sales and Marketing, Sebastien Duchateau, described the All New Mitsubishi Outlander as a bold and sophisticated vehicle with expressive body lines which embodies the ethos of the Mitsubishi brand – Robustness and innovation.</p><p>He also mentioned that “the Mitsubishi Outlander is an example of good use of space combined with stylish execution. The Interior delivers a family sized, seven seat accommodation and contemporary styling.”</p><p>In terms of performance the Outlander is equipped with a powerful 2.5-liter 4-cylinder engine that delivers 184 horsepower, ensuring a responsive and exhilarating drive. With its efficient engine and advanced drivetrain, the Outlander achieves excellent fuel economy, making it an eco-conscious choice for drivers.</p><p>With an impressive ground clearance, the Outlander is ready to tackle rough terrain and adventure off the beaten path. The innovative addition to this model, the Super All-Wheel Control (S-AWC), allows the driver to choose from multiple drive modes, including normal, snow, gravel, and mud, to optimize performance in various conditions.</p><p> Duchateau concluded by adding that “Whether you're navigating the city streets or embarking on off-road adventures, the 2023 Outlander is designed to elevate your driving experience.”</p><p>Invited guests also shared their expectations of the All-New Mitsubishi Outlander ahead of the reveal with high hopes. The night was eventually climaxed with the spectacular unveiling event which had Ghanaian female violinist Nana Yaa, holding the audience spellbound with a dramatic piece which rose in crescendo as she walked off stage pulling off the covers off the vehicle, revealing its magnificence amidst applause and pyrotechnics.</p><p>The Executive Committee Members joined the MD to inspect the unveiled vehicle first after which the invited guests followed suit. The admiration on their faces was evidence of how impressed they were.</p><p>In closing, the Communications Manager Dennis Gawuga thanked invited guests for an impressive turnout and urged them to return with their orders for the All-New Mitsubishi Outlander.</p><p>The 2023 Mitsubishi Outlander is available for purchase at CFAO Ghana PLC with branches in Accra on the Airport Bypass road, Tema Hospital Road link adjacent T-Havana, Kumasi on the Harper Road, Adum and Takoradi on Cape Coast Road.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-45163646448753703642023-10-20T04:24:00.001-07:002023-10-20T04:24:59.671-07:00Ghana gets $540m from petroleum revenue fund in 6 months – PIAC<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxrEXVPdb3_S8IyboAa6Nl7wxcagOSVn_jAJnTorRTR1RAIW7t-o1zGEKpMUdEaeVYoKipwMGYjZgOl3jAQ6uYtNJ-X9InIfcwxGNj8pApUKE4XK_PjokweIfbgXJQe3Iuiihb4li8A_hljg8-iKRvibkDbW7WuST9COqFbrWPqZbEZbtFMZB704IZ7Lk/s948/oil-reuters_1200-sixteen_nine.webp" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="533" data-original-width="948" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxrEXVPdb3_S8IyboAa6Nl7wxcagOSVn_jAJnTorRTR1RAIW7t-o1zGEKpMUdEaeVYoKipwMGYjZgOl3jAQ6uYtNJ-X9InIfcwxGNj8pApUKE4XK_PjokweIfbgXJQe3Iuiihb4li8A_hljg8-iKRvibkDbW7WuST9COqFbrWPqZbEZbtFMZB704IZ7Lk/s320/oil-reuters_1200-sixteen_nine.webp" width="320" /></a></div><br />Latest report from the Public Interest Accountability Committee’s (PIAC) 2023 semi-annual report has shown that Ghana made a total $540 million in revenue from January to June 2023.<p></p><p>According to PIAC, under the Annual Budget Funding Amount for 2023-2025, over $466 million out of $540 million of the petroleum revenues were allocated to priority areas including agriculture, roads , critical infrastructure development as well as physical infrastructure and service delivery in education and health.</p><p>The report also showed that over ¢247 million was allocated to agriculture including fisheries representing 12.24 percent</p><blockquote><p>Physical infrastructure and Service in education and Health as well as industrialization had ₵35 million and ¢2 million respectively representing 1.79% 0.12%”.</p></blockquote><div id="vuukle-quiz-container"><div id="vuukle-ad-3"><div class="vuukle-ads"><div data-google-query-id="CLS_9O3AhIIDFRrb7QodJFUN8g" id="div-gpt-ad-1497448474263-3"><div id="google_ads_iframe_/213794966,1002554/atunwa_display/myjoyonline.com-3_0__container__">Meanwhile, Roads, Rail and other critical infrastructure had the highest, with over ¢1.0 billion, representing 85.74%.</div></div></div></div></div><p>The report furthered that, an amount of¢131,005,360.91 representing 6.47% of the Annual Budget Funding Amount (ABFA) was transferred to the District Assembly Common Fund in the first half of the year 2023.</p><p>The report stated that the Ghana Infrastructure Investment Fund (GIIF) plans to invest $380 million in the Tema Motorway and the Pwalugu multi-purpose dam over the period, 2023 to 2025.</p><p>Out of this, an amount of $41.25 million was disbursed to GIIF for the SPV Viability Gap/Tema Motorway Extension Project in H1 2023.</p><p>It also stated that, the retention of the current cap of $100 million on the GSF for the year 2023 is not in accordance with the formula stipulated in L.I 2381 and does not help build the Fund to serve its purpose.</p><p>PIAC maintained that a proper application of the capping formula would have returned an amount of $765.76 million.</p><p>It observed that Kosmos Energy Ghana Limited wrongfully paid withholding tax into the Petroleum Holding Fund in 2020 and 2021, totaling 3,999,325.65 million dollars</p><p>Chairman of PIAC, Professor Kwame Adom Frimpong urged the Finance Ministry to comply with the provisions of section 16(4) of the Petroleum Revenue Management Act to release funds to the national oil company not later from three workings days after the receipts of petroleum revenues into the PHF</p><blockquote><p>The ministry of finance should comply with act from Parliament to release funds within the stipulated time to support national oil company", he said.</p></blockquote>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-49522884174631482432023-10-20T04:17:00.002-07:002023-10-20T04:18:19.606-07:00I am positive IMF’s Board will approve second tranche of $600m – Ofori-Atta<p> The Finance Minister, Ken Ofori-Atta, is optimistic that the board of the International Monetary Fund (IMF) would approve the second tranche of the country’s deal with the Fund.</p><p>Speaking on the business edition of <strong>JoyNews’ PM Express</strong>, the Minister said he has engaged external creditors who have, in turn, given him positive assurances about the fate of Ghana’s debt restructuring programme in the coming weeks.</p><p>It is on the back of these, that Mr Ofori-Atta remains hopeful that the country would successfully get the Fund’s Board to approve the second tranche of its financial support. The IMF Board is expected to meet in November 2023, to consider the second tranche of $600 million for Ghana as part of the Fund-support programme.</p><p><iframe allowfullscreen="allowfullscreen" data-mce-fragment="1" frameborder="0" height="531" src="https://www.youtube.com/embed/M-4hUOw5wP8" title="PM Express || Ofori-Atta talks about External Debt negotiations and the impact on Ghana's economy" width="944"></iframe></p><p>“My deep sense is that we will get whatever is appropriate for the Fund Board to be able to make their decision in November. I am confident about it. And yes, we did meet with the officials from Paris Club and there was pretty positive assurance.</p><blockquote><p>I also had the opportunity to meet the Governor of the PPOC of China which is their central bank and his assurances were also very positive. So really, I am confident that we would get to the Board and it will approve our next tranche,” he told George Wiafe on Thursday.</p></blockquote><p>Ghana is eagerly anticipating the arrival of its second tranche of financial support from the IMF. However, the country faces a hurdle as it is mandated to restructure its external debt as a prerequisite for the aid package. Failure to comply with this requirement could potentially lead to a delay in the disbursement.</p><p>Since the Covid-19 pandemic, Ghana has been grappling with the economic fallout which has exacerbated its fiscal challenges and elevated the importance of external financial support.</p><p>The IMF's assistance is therefore vital for stabilising the country's economy, addressing budget deficits, and mitigating the adverse effects of the pandemic on citizens.</p><p>On Wednesday, May 17, the first tranche – $600 million – of the $3 billion was credited to Ghana’s bank account.</p><p>The funds were used for the balance of payment and budget support, as well as to stabilise the foreign exchange rate and control inflation.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-17762393544295777792023-10-16T10:07:00.001-07:002023-10-16T10:07:21.505-07:00IMF must adapt lending toolkits to serve vulnerable members-- Dr Addison<p> <strong>The Governor of the Bank of Ghana, Dr Ernest Addison has asked the International Monetary Fund (IMF) to adapt its lending toolkits in line with the changing global conditions.</strong></p><p>He said given the fragmented global financial architecture, the IMF had to remain steadfast and adapt its lending toolkits to serve its vulnerable members better. </p><p>Speaking on behalf of his fellow African central bank governors at the World Bank/ IMF Meetings, he called for increased concessional financing by aligning its Poverty Reduction and Growth Trust access thresholds with those of the General Resources Account (GRA) to ensure uniformity of treatment. </p><p>“In addition, we call on the Fund to relax the PRGT eligibility criteria to foster access to adequate Fund support while reducing, suspending, or eliminating entirely surcharges for most vulnerable PRGT-eligible members facing acute debt challenges. </p><blockquote><p>We also reiterate our call for additional pledges from willing donors to close the gaps in PRGT resources,” he stated.</p></blockquote><p>Dr Addison also called for the need to successfully complete the ongoing 16th General Review of Quotas to reinforce IMF finances while protecting the quota share of the vulnerable members.</p><h2>Strengthening multilateral coordination</h2><p>The Governor also emphasised the need to strengthen multilateral coordination and efficiency of regulatory framework for debt resolution in low income countries through a formidable Global Sovereign Debt Roundtable (GSDR).</p><p>He said while welcoming the latest developments on Zambia and Chad, the governors underscore the need to revamp the G20 Common Framework (CF) to ensure timely, orderly, equitable, inclusive, and transparent debt restructuring for distressed members in the region (including, Ghana, Ethiopia, and Malawi). </p><blockquote><p>“In this regard, we call for a carefully designed debt resolution mechanism, especially, for vulnerable members with large- domestic creditors (as in the case of Ghana) to help avert domestic financial market instability. </p></blockquote><p>“In addition, improving debtor-creditor engagements through an enhanced GSDR while strengthening technical support to foster common understanding of all debt issues is macro-critical to bolster a swifter, proactive and systematic restructuring,” he stated.</p><h2>Enhanced cooperation </h2><p>Dr Addison also noted that an enhanced IMF cooperation with multilateral development banks (MDBs) and regional development banks (RDBs) was critical to facilitate timely provision of financial assistance to members facing significant debt and growth challenges. </p><blockquote><p>In this context, we restate the call for new SDR allocation through the MDBs/RDBs’ (including AfDB), given their multiplier effects in achieving climate and development goals. </p></blockquote><p>“We also request that the Fund leverages its close engagements with G20 members to advocate for better lending terms from the ongoing design and implementation of the G20 Capital Adequacy Framework (for MDBs) to avert inadvertent financing ramifications on vulnerable members in Africa,” he mentioned.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-22549038518121089552023-10-16T04:03:00.002-07:002023-10-16T04:03:50.517-07:00Prudential Bank supports Lifeline for Childhood Cancer<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBc7hswufuz3Hi5-ouszh_Ru9oWDyBYxPLJ-fVvjDxighIVp6oMnUPooYijBEObntzyxTMsORoKTyY2JhGDb23F_B1yTPQ5dRjz6PFGu9ZC4bAlAm8YaMJsi6hpEOOTlmkwO-w_8Ns-Ef-0RE20fCIEz_UNw5LlTp9XqeYTODc89bqHbYdNn5h87CpYfw/s300/annn.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="199" data-original-width="300" height="199" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBc7hswufuz3Hi5-ouszh_Ru9oWDyBYxPLJ-fVvjDxighIVp6oMnUPooYijBEObntzyxTMsORoKTyY2JhGDb23F_B1yTPQ5dRjz6PFGu9ZC4bAlAm8YaMJsi6hpEOOTlmkwO-w_8Ns-Ef-0RE20fCIEz_UNw5LlTp9XqeYTODc89bqHbYdNn5h87CpYfw/s1600/annn.jpg" width="300" /></a></div><br /><strong>The Prudential Bank Limited (PBL) has donated of GH¢20,000 and a set of branded items to the Lifeline for Childhood Cancer Ghana, the foundation partner of the Korle Bu Pediatric Oncology Unit.</strong><p></p><p>Lifeline for Childhood Cancer Ghana raises funds for the treatment, care and cure of children with cancer and seeks to make childhood cancer a national health priority.</p><p>Presenting the items on behalf of the PBL, Ruth Baafi of the Marketing and Corporate Affairs Department of the bank said the donation was to support the activities of the unit.</p><h2>Commitment</h2><p>She underscored the bank's continuing commitment to contributing to commendable causes that benefit the broader community.</p><p>Receiving the items, the Executive Director and co-founder of the Lifeline for Childhood Cancer Foundation, Akua Sarpong, expressed her profound gratitude to the PBL for the support.</p><p>She said significant number of patients at the centre came from underprivileged backgrounds, hence the need to support them to access quality healthcare.</p><p>She added that the donation would play a pivotal role in alleviating the financial burden of their medical expenses during the course of their treatment.</p><h2>Gesture</h2><p>The Pediatric Oncology Nurse in charge of the unit, Faustina Amoako commended the bank for the kind gesture and entreated well-meaning Ghanaians, as well as other philanthropic and corporate bodies to also support the Paediatric Oncology Unit of the hospital in other areas such as the acquisition of monitors, medication and also funding for expansion works.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-70650730853458101912023-10-16T03:49:00.000-07:002023-10-16T03:49:01.640-07:00Ecobank Ghana appoints Joana Mensah as Acting MD<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6WDfPH7zK6_nO22kj07dckv-wy3315XymDxqsAmlX1VNe7g0EPzOnA6LXPysFh8q8g5trtEDul14eNtNpmU9I1oFbpBUrBZsrw5wf6mED36sAWdSvGygmIrrlKC_kQLfm_FPgk7exxoIupierXxEUpbJTQEVAhGBG4Ep1FUoI-Ln-fmV4G9L0TNvROZE/s728/eco_bank%20(1).jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="410" data-original-width="728" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6WDfPH7zK6_nO22kj07dckv-wy3315XymDxqsAmlX1VNe7g0EPzOnA6LXPysFh8q8g5trtEDul14eNtNpmU9I1oFbpBUrBZsrw5wf6mED36sAWdSvGygmIrrlKC_kQLfm_FPgk7exxoIupierXxEUpbJTQEVAhGBG4Ep1FUoI-Ln-fmV4G9L0TNvROZE/s320/eco_bank%20(1).jpg" width="320" /></a></div><br /><strong>Ecobank Ghana, has announced Ms. Joana Mensah as the acting Managing Director. She replaces Dan Sackey, who headed the bank from 2016 to August 15, 2023, when he officially retired.</strong><p></p><p>Joana Mensah is expected to remain in this role until a substantive person is named later. The bank is yet to announce the timeline for the appointment of a substantive MD.</p><p>Until this appointment, Mensah was the Country Chief Risk Officer of Ecobank Ghana, responsible for managing the enterprise-wide risk functions across the bank since May 2019.</p><p>In this capacity, she had direct supervision of credit risk, market risk, operational risk as well as Environmental Social and Governance, and worked through the Management Risk Committee to cover other risk areas.</p><p>Her career with Ecobank Ghana started in August 1993, when she joined the bank as a Financial Analyst with the Corporate Banking Department.</p><h2><strong>SME portfolio</strong></h2><p>She subsequently served as a Relationship Manager in charge of the SME Portfolio and was eventually appointed as the Head of Commercial Banking in 1999. </p><p>In 2005, Ms Mensah Joana was appointed as Country Risk Manager with dual responsibility as the Regional Risk Manager for the West African Monetary Zone (WAMZ), which is currently the Anglophone West Africa (AWA) region.</p><p>Based on her rich credit experience and expertise in exercising sound credit judgment, she was also appointed as Senior Credit Officer by Ecobank Transnational Inc., the parent company of Ecobank Ghana, responsible for approving large credit exposures and high-risk exposures for the AWA Region. She has a strong background in SME development, Corporate Banking/ Strategy and Risk Management. </p><div class="d-flex justify-content-center inread"><ins class="adsbygoogle" data-ad-client="ca-pub-1220784161199635" data-ad-slot="3976749912" data-ad-status="filled" data-adsbygoogle-status="done"><div aria-label="Advertisement" id="aswift_4_host" tabindex="0" title="Advertisement">The Acting MD holds an MBA in Finance and a BSc. in Agricultural Economics from the University of Ghana, Legon. She presently serves as a member of the Board of Directors of Ecobank Gambia and previously served on the Boards of Ecobank Sierra Leone and Ecobank Ghana Venture Fund. </div></ins></div><h2><strong>Financial performance</strong></h2><p>Mensah comes into office just as the bank has completely recovered from the dip in its financial performance, unavoidably caused by the effects of Ghana’s Domestic Debt Exchange Programme (DDEP), which imposed a significant adverse impact on nearly all banks.</p><p>Ecobank Ghana, for long the industry leader, announced its financial performance for the first half of 2023 that showed that it is well on course to successfully navigating the treacherous terrain thrown up by the country’s debt restructuring exercise.</p><p>The bank is back to profitability after impairment charges on its holding of government debt securities, leading to huge losses for both the full 2022 financial year and the first quarter of 2023.</p><div class="d-flex justify-content-center inread"> </div>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-60747271536613825562023-10-16T03:43:00.000-07:002023-10-16T03:43:01.150-07:00Over 9m Ghanaians have no form of pension — NPRA<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMOds7DVTKJeC5npX7F9_9r3lBz-p6aIueEkX6acxtZUWX4mZyyyDedK4KOL8ZnP8UZ3rNDUrxTJo1hASnl4pkV2BM44_pnkp5lExk80edA3acGqMQmkx8lfCwN-LQzJCA9eGId8BWcXME672Id22aP_bP6bPy75r77B1GVWOXOcu9cAaTTpxOV8ONDZM/s504/pen_sions.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="435" data-original-width="504" height="276" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMOds7DVTKJeC5npX7F9_9r3lBz-p6aIueEkX6acxtZUWX4mZyyyDedK4KOL8ZnP8UZ3rNDUrxTJo1hASnl4pkV2BM44_pnkp5lExk80edA3acGqMQmkx8lfCwN-LQzJCA9eGId8BWcXME672Id22aP_bP6bPy75r77B1GVWOXOcu9cAaTTpxOV8ONDZM/s320/pen_sions.jpg" width="320" /></a></div><br /> <strong>Over nine million working Ghanaians have no form pensions, the Head of Corporate Affairs, National Pensions Regulatory Authority, Nana Sifa Twum, has disclosed.</strong><p></p><p>He said most of these people were in the informal sector, adding that between the next five to 10 years, a lot of people would retire into poverty if that was not checked.</p><p>Speaking to the media at the launch of “Pension Sunday”, he said the country was struggling to rope in the informal sector onto the pension scheme because the scheme was set up on the wrong premise, with the notion that pension was for only formal sector workers.</p><p>He, therefore, urged all stakeholders in the industry to intensify their public education advocacy for workers in the informal sector to understand that they could also benefit from the pension scheme.</p><h2><strong>Pension Sunday</strong> </h2><p>The ‘Pension Sunday’ was launched by the NPRA in collaboration with the Presbyterian Church of Ghana to jointly educate and sensitise church members in a bid to improve pension literacy and enhance pensions coverage in the country.</p><p>Under the initiative, the first Sunday of every October would be observed in all 5000 Presbyterian congregations across the country.</p><p> Sifa Twum said through initiatives such as that, the NPRA had been able to rope in about seven per cent of informal sector workers onto the pensions scheme, with plans to increase this figure to 25 per cent within the next five years.</p><blockquote><p>There are two inevitable things in life, one would have to die or retire, and these require pragmatic preparations,” he stated.</p></blockquote><p>He said the authority was working towards replicating Pensions Sunday in all churches.</p><h2><strong>Needed awareness</strong></h2><p>Launching the programme, the Moderator of the General Assembly of the Presbyterian Church of Ghana, Professor, Right Reverend Joseph Obiri Yeboah Mante, expressed optimism that the programme would bring about the needed awareness among Ghanaians, especially members of the Presbyterian Church of Ghana and whip up their enthusiasm to plan for their retirement.</p><p>He said the Bible required Christians to live in dignity and be financially sound and therefore the programme had come at the right time to help members prepare well towards their retirement.</p><p>Right Reverend Mante explained that the church worked towards the holistic well-being of its members and as members were fed with the spiritual information and assistances, they must also be well educated to live lives of high repute and dignity.</p><p>He called on the leadership of the Presbyterian Churches in the country to liaise with the NPRA in the regions to make this effective and successful.</p><p>He also appealed to the government to institute every October as a pension month to create awareness of pension matters adding that pension helped one to maintain his or standard of living in retirement, and savings provided important supplemental income for unforeseen expenses.</p>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0tag:blogger.com,1999:blog-8175203625866593428.post-85253973327840518722023-10-16T03:37:00.001-07:002023-10-16T03:37:28.944-07:00Zenith Bank @ 18 – Celebrating a legacy of financial excellence<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_HhpQlJrOECdBwGgFdRNe_Ztp9hS5HkRI7Vrf6jLJX-D0p8OavLE3IIKuS6j4SwHrjB92TaRjHElcGMVxnogK-rs0soRpaBdKS9335O8PqhBmjZHHI-6uNif1CTWgoC_EMW4V4mSphhBxwMn5YnIWeOhYMDNH8ghmHa50NKPs5jItflF3UpsvCnBudfg/s750/ZENITH-BANK-@-18-750x375.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="375" data-original-width="750" height="160" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_HhpQlJrOECdBwGgFdRNe_Ztp9hS5HkRI7Vrf6jLJX-D0p8OavLE3IIKuS6j4SwHrjB92TaRjHElcGMVxnogK-rs0soRpaBdKS9335O8PqhBmjZHHI-6uNif1CTWgoC_EMW4V4mSphhBxwMn5YnIWeOhYMDNH8ghmHa50NKPs5jItflF3UpsvCnBudfg/s320/ZENITH-BANK-@-18-750x375.jpg" width="320" /></a></div><br />On the fateful morning of September 16, 2005, Zenith Bank Ghana embarked on its banking journey with a grand total of 45 staff members. This marked a transformative turning point in the banking and financial services landscape of the country.<p></p><p>Zenith Bank swiftly surged ahead of the competition, fueled by a potent combination of determination, innovation, customer-centricity, and forward-thinking. It altered the course of banking and financial services delivery in Ghana, leaving an indelible mark for years to come.</p><p>Fast forward to today, the Bank that revolutionised banking in Ghana has celebrated a significant milestone in its journey – 18 years of financial excellence in Ghana.</p><p>Zenith Bank’s banking approach over the years has been built on the bedrock of People, Technology, Service.</p><p><strong>The People Behind the Success</strong></p><p>At the helm of Zenith Bank, a visionary leadership team has skillfully steered the institution toward a trajectory of growth and sustainability. Their strategic prowess, unwavering commitment to excellence, and adept handling of challenges have been pivotal in the Bank’s success story.</p><p>Behind the scenes, the heartbeat of the Bank resonates with its devoted employees. From the diligent frontline staff to the unsung heroes working tirelessly in the background, these individuals constitute the lifeblood of the institution. Their unwavering dedication to customer service, alignment with the Bank’s values, and relentless work ethic constitute the driving force that propels Zenith’s enduring success.</p><p>Furthermore, the Bank’s commitment to fostering talent and personal growth, as well as its dedication to a diverse and inclusive culture, underpins its remarkable journey. Conversations with employees underscore the Bank’s core values and enduring corporate culture, reflecting a commitment to integrity, professionalism, and customer-centricity that permeates every facet of their work.</p><p><strong>Technology: Innovation in Banking – How Zenith Bank Leads the Way</strong></p><p>In the rapidly evolving landscape of global banking, Zenith Bank Ghana emerges as a trailblazer in technological innovation as it celebrates its 18th anniversary. With a relentless commitment to serving its customers better, the Bank has consistently led the way in redefining banking in Ghana through innovative solutions. One significant milestone in Zenith’s innovation journey was its pioneering venture into online banking, revolutionizing the way customers managed their finances. Recognizing the potential early on, the Bank introduced user-friendly online platforms that allowed customers to handle their financial affairs from the comfort of their homes.</p><p>As smartphones gained widespread adoption, it quickly adapted by launching its mobile banking app, ZMobile, to enable customers to conduct a wide array of banking transactions through their mobile devices. This shift marked a transformative change in the banking landscape in Ghana. The Bank’s innovation drive extended beyond convenience to fostering financial inclusion. The Bank introduced digital solutions such as its USSD service *966# to enable the unbanked and underbanked populations, open instant bank accounts and access basic banking services via mobile devices with minimum documentation. Simultaneously, the Bank prioritized security by implementing biometric authentication methods such as fingerprint and facial recognition, ensuring the safety of online and mobile banking transactions.</p><blockquote><p>Zenith Bank has demonstrated remarkable adaptability, staying at the forefront of technology and innovation to offer cutting-edge banking solutions. From its robust online banking platform to its personalized customer service, the Bank has consistently shown its readiness to embrace the future,” the MD/CEO, Mr. Henry Onwuzurigbo said.</p></blockquote><p><strong>Service: The Differentiating Factor</strong></p><p>Zenith Bank has created some of the most customer-centric products and services that have and continue to serve customers well. As a pioneer Bank of the Customer Relationship Management strategy where customers are assigned dedicated staff to manage customer relationships as well as their business with the Bank, this strategy has led to Zenith being one of the Banks that focuses on building relationships with customers.</p><p>Throughout its journey, Zenith Bank has also maintained a customer-centric approach, actively seeking feedback to refine and develop new banking solutions that meet the evolving needs and preferences of its clientele. The Bank continues to deepen its engagement with customers and its accessibility to them through initiatives such as its 24hour Customer Contact Centre, Zenith Direct, which features channels such as Z-Chat (an online live chat platform), the Complaints Portal, Voice Calls, and Email – where customers can seek information about products and services, provide service feedback to the Bank, or report complaints. The Bank’s unwavering commitment to a customer-centric approach, characterized by open communication and support for clients during difficult times has fostered trust and loyalty.</p><p><strong>18th Anniversary Celebration</strong></p><p>In commemoration of the 18<sup>th</sup> Anniversary celebration, Zenith Bank Ghana organised a prayer and thanksgiving service to thank the Almighty God for 18 successful years of Banking operations in Ghana.</p><p>In his remarks, the MD/CEO of Zenith Bank Ghana, Mr. Henry Onwuzurigbo stated, “18 years of successful banking operations in a highly competitive and rapidly advancing industry is an achievement Zenith Bank Ghana can be proud of. Today, we are positioned as a financial institution of choice and a force to be reckoned with in the Ghanaian Banking industry. It is the Grace of God that has enabled us achieve this significant feat”.</p><p>The MD/CEO expressed his deepest appreciation to the Board, Management, staff and customers of the Bank for their belief in the Bank, their dedication, support, unflinching loyalty and contribution to the success of Zenith Bank Ghana. During the service, special prayers were said to commit the Bank, its staff and customers into God’s Hands.</p><p>A key highlight of the Bank’s 18<sup>th</sup> Anniversary celebration was the Bank’s presentation of a cheque of GHS150,000 to the Pediatric Oncology Unit of the Korle Bu Teaching Hospital (KBTH). The presentation, which was in furtherance of the Bank’s CSR objective of giving back to the society in which it operates was in response to an appeal by Lifeline for Childhood Cancer Ghana (LCCG), a non-governmental organization dedicated to making childhood cancer a national health priority whilst facilitating and increasing access to optimal medical care and treatment for children with cancer.</p><p>Speaking at the presentation, the MD/CEO stated that, “When Akua Sarpong, the Co-founder and Executive Directive of Lifeline for Childhood Cancer Ghana (LCCG) spoke with our colleagues about the cause she is championing, we saw that it is one that needed some form of assistance especially from corporate institutions, and we readily and willingly supported this very worthy cause as September is Childhood Cancer Awareness month globally as well as the month of the Bank’s 18th Anniversary”.</p><p>Speaking on behalf of LCCG and the Oncology Unit, Prof. Lorna Reinner, Pediatric Oncologist at Korle-Bu Teaching Hospital who spoke on behalf of the Pediatric Oncology Unit expressed appreciation to Zenith Bank for the very kind gesture. She indicated that the LCCG and the hospital are currently working towards the expansion of the pediatric oncology block to increase the current facility’s capacity to include a 40-bed children’s ward to enable the hospital improve treatment and care for patients; as such the Bank’s donation which was apt and timely and would go towards the construction of the new ward.</p><p>Prof. Reinner thus noted that increased support from other corporate institutions would greatly help the unit improve treatment outcomes for children with cancer and their families given the needed support.</p><p>Prior to the presentation at the Pediatric Oncology Units, earlier in the week, the Bank organised a Virtual Health Talk for staff on “Childhood Cancer –to create awareness of Childhood cancer and to educate staff on the signs, symptoms, preventive measures and treatment options available for patients.</p><p>Also, during the anniversary celebration, the Bank organised a two-week EazyBanking activation exercise at all 40 business locations nationwide to sign customers on to the Bank’s digital banking products such as Internet Banking, Zenith Mobile Banking App (ZMobile), Cards, Point of Sale Terminals, Scan To Pay, etc). The exercise increased awareness of the Bank’s electronic products, highlighted the convenience of the products, and enabled the Bank achieve a significant number of sign-ups to products by customers. For every customer that signed up for a product, they received an instant gift from the Bank to the delight of many.</p><p>The Bank’s online audience was not left out of the celebration as followers of the Bank’s social media pages also enjoyed fun and interactive games and rewards that kept them glued to the pages.</p><p>To climax the celebration, the Bank organised a TGIF/Karaoke Night across all branches to appreciate staff for their hard work, loyalty and commitment to the success of the Bank. The bankwide event promoted bonding and socialsing amongst staff and management and created opportunity for staff to showcase their hidden talents.</p><p><strong>On to the Next</strong></p><p>Zenith Bank has proven itself as a beacon of financial stability and trustworthiness. With unwavering dedication to its customers, the Bank has provided exemplary banking services that have contributed to the growth and prosperity of individuals and businesses alike.</p><blockquote><p>As we celebrate our 18<sup>th</sup> year in Ghana, Zenith Bank’s commitment to customer-centricity remains unwavering,” Onwuzurigbo said.</p></blockquote><p>The Bank acknowledges the pivotal role of technology in shaping the future of banking and intends to maintain its leadership in this regard by fortifying its online and mobile banking platforms prioritizing robust security measures, and exploring emerging technologies that will cater to the needs of customers and guarantee true convenience. Furthermore, Zenith Bank Ghana remains dedicated to promoting financial inclusion, focusing on innovative solutions and financial literacy programs to empower the unbanked and underbanked populations. Simultaneously, the Bank aims to increase accessibility by extending its physical presence through new branches and ATMs in underserved areas and further developing digital channels.</p><p>Zenith Bank Ghana seeks to further strengthen partnerships and collaborations with fintech firms, local organizations, and international financial institutions, harnessing expertise and resources to drive banking innovation and continued growth to the benefit customers and the wider community.</p><p>Overall, Zenith Bank looks into the future with confidence and a deep sense of appreciation of the tremendous opportunities ahead of it. The Bank’s successful track record of balancing the interests of its stakeholders, i.e., shareholders, customers, employees, and the communities in which it operates, will stand it in good stead in all its future endeavours. Zenith’s abiding aim is to lead a dynamic industry in all parameters, especially when it comes to the satisfaction of customers.</p><p>Zenith Bank Ghana is a subsidiary of Zenith Bank Plc with its Head Quarters in Lagos, Nigeria. It has a presence in Sierra Leone, The Gambia, and United Kingdom, as well as representative offices in Dubai, South Africa, and China.</p><div class="jeg_post_source">Source: <a rel="nofollow" target="_blank">Zenith Bank Ghana</a></div>zotomelohttp://www.blogger.com/profile/17076474947202788680noreply@blogger.com0