Hbiba Sinare’s Mama Mariam’s Foundation donates fully connected polytank to Tamale Teaching Hospital

Popular Ghanaian actress and founder of Mama Mariam’s Mother and Children Care Foundation, Habiba Sinare has donated a fully connected Polytank to the Tamale Teaching Hospital to connect their NICU department.

According to the management of the department, the Neonatal Intensive Care Unit (NICU) has been without a water facility over the years, this was a major issue affecting newborn babies and their mothers but now with the help of Mama Mariam’s foundation, there is a stable and portable water supply

Speaking after the donation, Ms. Sinare shared that, she is happy to contribute to the department’s efforts to save lives of newborn babies and also happy to make work efficient for the staff “I must say I feel extremely happy doing this for my little angels”.

She explained that “Water is LIFE and this initiative forms part of my foundation; MAMA MARIAM’s mother and children care. This, in particular, focused on giving the department full water supply anytime; reducing infections in the NICU department and of course easy and effective flow of medical staff activities”.

She congratulated staff at the NICU department of Tamale Teaching Hospital for their amazing works.

“You are doing extensively well. And your rewards are with the Almighty” She added.
She expressed her thanksgiving to God and the staff of the hospital for the privileged accorded her to be in a position to support the needs of the less privileged in society.

A senior staff of the hospital who supervised the installation of the water system from its inception, also thanks Ms. Habiba Mariam For the kindhearted gesture and pray for her to get more opportunities in life to be in a good position to help the needy in society.

About Mama Mariam Foundation

The NGO’s priority is to give love, Give Out and Change Lives. It also pursues a world where everyone has deprived areas across the country has the opportunity to good health, quality education, and aiding vocational skills.

The vision of the NGO is to change the future by implementing sustainable programs that will improve the reception to opportunities and lifesaving services. MAMA MARIAM has four phenomenal values which include; empowering others, Development, Activating leaders, Compassion.

Miss Sinare shared that the NGO aims; construct schools in the rural Northern communities, Build a Mama Mariam ward in all the Regional and District hospitals of the Northern sector, Provide quality accessibility to water in the rural Northern sectors, Set up vocational institutions in the Northern rural sectors, Put up maternity centers in rural sectors.

Mama Mariam Foundation is scheduling to roll out these life-changing projects; clean drinking water in the next year for the rural communities in the northern sector. In the next 2 years, deprived communities in the Northern sector of Ghana should have access to good health care by 15%, In the next 3 years, deprived communities in the Northern sector of Ghana should have access to quality education by 10% and 5 clinics and 5 vocational schools should be built in deprived rural communities.

To help support this good course by Mama Mariam Foundation, they are available on social media and on the website: WWW.HABIBASINARE.COM

Source: Ghana Web

Sandra Owusu Ansah pens one-year deal with ZFK Spartak Subotica FC

Accra,- Black Queens striker, Sandra Owusu Ansah has signed a year deal with ZFK Spartak Subotica FC in Serbia.

The move would see the former Black Princesses captain participating in the UEFA Women’s Champions League.

Owusu Ansah joins the Serbian team from Supreme Ladies in the National Women’s League and is expected to make an impact in the league.

She would be joined with compatriot Alice Kusi in the same club.

The influential player was nominated for the CAF Youth Player of the year 2016 following her impressive displays at the FIFA Women’s U17 and U20 World Cups in 2015 and was also voted the 2016 SWAG Most Promising player of the year in 2016.

She scored 10 goals for Supreme Ladies FC in the Women’s Premier League in 2020/21 before joining the Serbian club.

Source: Ghana News Agency

Cty of Favour Estates, a game-changer in Ghana’s real estate industry

Tema,- City of Favour, a real estate project has been tagged as the game-changer in the real estate sector as it seeks to provide comparatively affordable housing units in Tema and its environs.

Mr Simon Sawer, Managing Director of Sawer-Nanor & Sons (SNS) Company Limited, who is executing the “City of Favour,” housing project said in spite of the complexities in the sector, the company was a trusted real estate developer with a vision of contributing its quota to bridge the two million units housing deficit in Ghana.

The MD was speaking at the inauguration of the first phase of the “City of Favour” project, developed by Sawer-Nanor & Sons Company Limited, a private construction company in Dawhenya, Ningo-Prampram District of the Greater Accra Region.

The company is estimated to construct over 100 housing and commercial units, including a pharmacy, restaurant, gymnasium, and a recreational centre for occupants, on a 14-acre land area which would further provide a serene environment, with aesthetic landscaping, inner roads, and 24-hour security.

Mr Sawer said the real-estate industry in the country was growing quite steadily and had witnessed several developers joining the industry, emphasizing that, SNS provides a professional, customer-focused, and trusted approach with an assurance of value for money in their investments.

He indicated that a professional real estate developer was always minded to ensure that their houses were of the highest quality to maintain the trust of their customers, and said his outfit did not compromise on the highest construction standards in its operations.

He said even though the project was started in the latter part of January 2021, four units; consisting of three two-bedroom houses and a four-bedroom unit, had already been sold and handed over as of May 2021.

He noted that the housing units would mainly comprise two-bedroom standard, two-bedroom expandable, three-bedroom semi-detached, and three-bedroom detached and added that designs could be altered to meet the specific needs of clients.

The MD appealed to the government to consider giving some support and tax holiday to real-estate and affordable housing contractors to cushion both the developers and prospective buyers from the increasing hikes in the prices of building materials such as cement and iron rods – core materials for construction.

Such hikes, according to him, led to an “increase in production cost which at the end of the day would be transferred to the client who is in dire need of housing.”

The Right Reverend Joseph Obiri Yeboah Mante, Moderator of the Presbyterian Church of Ghana, in a keynote address, called on the youth to re-dedicate themselves to hard work as God honours a person who strived relentlessly in their endeavours.

“God never blesses laziness,” he said, and pointed out that the sequential positivity in one’s life was sometimes undeserving, but it took the favour of God to bless persons who put in a lot of effort in their dealings to succeed.

Mr Hayford Boabeng Kyereman, a Client, in a solidarity message, applauded the company for the professional and topnotch customer services they provided him before the purchase of one of their homes, and said: “when you deal with SNS, you’re not only dealing with a person of credibility but God-fearing.”

Present at the inauguration were; Mr Joseph Teye Doku, District Chief Executive, Ningo-Prampram District Assembly (NIPDA), officials of SNS and community leaders amongst others.

Source: Ghana News Agency

Development Bank – A different vehicle for economic growth

Accra, – Ghana’s quest for a national development finance institution to provide critical financing for economic development cannot be overemphasised.

This is because the existing commercial banks have over the years not been able to deliver and adequately supported the country’s development process, partly due to the maturity expectation gap.

“The maturity expectation of the depositor is short-term. Those borrowing have a short-term maturity expectation also. The banks can’t use depositors’ short-term funds to finance long-term projects,” Nana Otuo Acheampong, a Banking Consultant explains.

Overall, the development bank is expected to enhance access to long-term credit and loans for companies, support critical sectors such as manufacturing, agriculture and housing, which have attracted low investments over the years and also extend the loan period for meaningful development.

“We are aiming to establish the bank by the end of 2021 with an initial capitalisation of around $ 250 million from the government ($200 million paid as of May 2021), the Minister of Finance recently told members of the Association of Ghana Industries at a forum.

“The World Bank plans to support with $ 250 million, EIB plans to give Euros 170 million, German Development Bank plans Euros – 46.5 million (tier 2 capital), and technical assistance of Euros three million, while French plans AFD initial support through partnership on guarantees.”

The European Union, through its European Investment Bank in Belgium, has given 170 million Euros to Ghana and the DBG to help channel private investments into productive sectors, new technologies and help accelerate market efforts to achieve the sustainable development goals.

Access and cost of credit are the banes of many SMEs, seeking funds for projects, which are urgently required to spur economic growth, deliver jobs and improve the quality of life of the people.

It is to address some of these difficulties faced by companies that the government is working to set up the Development Bank Ghana, an institution to reverse the trend of inadequate funding support by the commercial banks to the economy and to look for long-term finance to support borrowers with expectation for accelerated development in the medium term.

Nana Otuo Acheampong says it is surprising that discussion on the set up of the DBG was generating so much negative debate as Ghanaians confuse Development Bank operations with that of the Universal Banks.

First, the law regulating a development bank is different from that controlling a commercial bank.

Commercial banks are regulated under the Banks and Specialized Deposit Taking Institutions Act, 2016, Act 930. On the other hand, the development bank is regulated by a new Act, which is known by very few people. It was promulgated in October 2020.

The Development Finance Institutions Act 2020, Act 1032 was passed by the Ghanaian Parliament and received Presidential assent on 27th October 2020.

The Act establishes a framework for the licensing, regulation, and supervision of Development Finance Institutions (DFIs) within the country.

Development Finance business is defined in the Act to mean the “provision of short-, medium- and long-term funding, guarantees and other credit enhancement structures to key sectors of the economy in a financially sustainable manner.”

Both laws are under the purview of the Bank of Ghana, which regulates both banks and SDIs and also the development institutions.

Furthermore, commercial banks engage in deposit-taking business, taking deposits from the public and giving out loans to them. To qualify as a bank under Act 930 you must do these dual activities.

Before Act 930 there was Act 774, which regulates non-bank financial institutions and but it is basically one-sided banking.

“Such banks give out loans but don’t take deposits from the public. With the development finance, it is similar to Act 774. They give out loans but don’t take deposits from the public,” he states.

Act 1032 spells out four classes of licences issued by the regulator – class one to four. Class one will be wholesale, class two retail, class three offer guarantees and class four will combine any of the three.

“I believe it’s the fourth class that can aid one to access long-term finance,” he notes.

The Act is a recognition by the government to enhance economic development through broad-based private investments into productive sectors, to create jobs and improved livelihoods and help accelerate market efforts to achieve the sustainable development goals.

Currently, there are 66 Development Institutions in the world such as Business Development Bank of Canada, British Business Bank, Development Bank of the Philippines and Rwanda Development Bank.

“The general expression is economic development. My first priority for economic development will be on innovation and technology. Everything now is digital, including banking. But 90-95 % of our banking apps are all imported leaving our own science and technology students unemployed.”

“We have many Science and Technology universities and we still import products of technology. We need to finance them to be able to develop programmes. Agriculture is also a place to put emphasis.”

Nana Otuo Acheampong says by prioritising farming, production and technology, the transformation will come from getting access to long-term finance and then the economy being able to do the things it aspires to do.

“Going back to all the priorities, technology is core to almost all activities now. If we can transform with technology, we can increase in producing innovative products. With farming, we can mechanise it, we can increase yield in that sector too. Through digitization, people can access products and services of the bank.”

However, satellite offices would be opened in the various regions to aid in making enquiries.

The Finance Ministry says the benefits to the economy will be enormous, including job creation as existing companies expand their product lines and new industries spring up.

Promotion of value-addition to agricultural products for export and a reduction in the housing deficit through support for the real estate sector are other benefits.

“DBG is a key pillar in our efforts to quickly recover from the effects of the COVID-19 pandemic and quickly resume our economic transformation path as articulated in the Ghana CARES/Obaatampa Programme,” it emphasises.

“It is intended to be a model institution that supports the financial system to play its role in supporting the private sector to expand and create jobs.”

It would help address two important constraints in our financial system – the lack of long-term funding, and the lack of adequate funding to the productive sectors of the economy.

Currently less than 15% of loans given out by banks are for five years or longer, making investment in long gestation project very difficult for the private sector.

Agriculture and manufacturing sector receive around four percent and eight per cent respectively, of banks loans compared to their shares in GDP and employment and potential for driving economic transformation, the Ministry notes.

Therefore, the primary focus areas of DBG will be:

* Agribusiness, with a focus on off-farm value-chain activities

* Manufacturing

* ICT, software, and allied services, including Business-Process Outsourcing, and Tourism

* Boosting homeownership through affordable and longer tenure Mortgage Finance

DBG is not like the existing commercial banks in the country. It is a non-deposit taking wholesale bank.

It will neither give retail nor direct business loans, like the former Bank for Housing and Construction, NIB, ADB, and the like.

It will rather provide funds to the existing commercial banks and other qualifying financial institutions to provide long-term lending and other innovative products that are presently lacking in the system.

The bank will therefore complement and strengthen the operations of existing financial institutions.

The Government, therefore, expects the DBG to be a financially sustainable institution that can raise long term funds from the domestic and international capital markets and from international financial institutions, based on its own balance sheet.

Work on the DBG started in 2018 with a Task Force of industry experts established by Government to recommend the best approach to establish a modern and dynamic development bank. Based on the recommendation of the Task Force, Government decided to set up DBG as a new non-deposit-taking-wholesale-bank under the Companies Act.

“The advantage we foresee of a greenfield approach is that one gets to start from a clean slate, with no legacy financial, governance and other issues,” the Finance Minister emphasises.

“This allows us to focus on the future and move straight into setting up DBG equipped with modern and sound design principles.”

Source: Ghana News Agency

Did you know you can buy a small engine SUV from CFAO Ghana?

Communications Manager for CFAO Ghana, Dennis Gawuga, has given a more efficient, money-saving, and luxurious car option for car-specifically SUV- lovers, who are on a budget.

Interviewed on the Men’s Lounge show with host, Nana Yaw Odame on eTV Ghana’s Men’s Lounge, he named the Suzuki Espresso from CFAO Ghana as the best option.

He explained, “The Suzuki Espresso has been designed as a mini-SUV. It’s a small type of SUV because of the ground clearance. It’s not a 4X4 but its ground clearance is very high and it’s a 1.0litre mini-SUV so it has the semblance of an SUV but it’s a small engine car”.

He added that the manufacturers are working to increase the output of the engines however small they may be because the efficiency of their automobiles is the topmost priority for them. Therefore, at the end of the day, it benefits the end-user as well.

Buying the Suzuki Espresso from CFAO Ghana is your only short at having affordability, efficiency, and luxury in one. What’s a better choice of car for luxury lovers than an SUV replica that not only gives you rich man vibes but also helps you save money both at the showroom and on the road?

CFAO Ghana is a subsidiary of CFAO Automotive, the largest automobile network in Africa and the overseas French territories. It is also the exclusive Ghanaian distributor for seven internationally renowned brands which are Citroen, Mitsubishi motors, Fuso, DAF trucks, Bridgestone, SYM, and Suzuki.

Source: Ghana Web