Day: October 21, 2021

Universal Merchant Bank (UMB), a leading indigenous Ghanaian bank today announced its intention to develop specific banking products for start-up fintech in the Bank of Ghana Sandbox Project.

The Bank announced its plans through its CEO, Nana Dwemoh Benneh during the 2021 edition of the Ghana Economic Forum, held in Accra. Nana Benneh was speaking on a panel discussion-themed ‘Contemporary approaches to financing start-ups’.

The Bank of Ghana in February 2021 announced that it was establishing a sandbox to facilitate innovation with a view of promoting Fintechs. According to the BoG, a Sandbox is a supportive and controlled policy environment that enables firms to test innovative products, services, and business models under the supervision of a Regulator.

Effectively, the regulatory and innovation sandbox will provide a forum for financial sector innovators to interact with the sector regulator to test digital financial service innovations while evolving an enabling regulatory environment. In this regard, the Bank and the innovator can assess the usefulness, viability, and safety of innovations through a shared understanding of their respective interests”.

“UMB’s analyses support the view that one of the most viable start-up ecosystems for the Ghanaian economy is in the technology/fintech arena; “said Nana Benneh. The evidence from markets like Nigeria where start-ups like OPAY and Flutterwave have raised over $200million in less than 4 years makes buttresses the point. In this regard, we think the Bank of Ghana’s Sandbox strategy is a game-changer and will incubate the ‘unicorns’ like Tik-Tok which will drive growth in this market.”

Answering follow-up questions on this point from the moderator of the panel, Madam Shika Acolatse, Nana Benneh further noted “our intention is to be able to provide 360-degree support for these ventures. So, this includes both liabilities and assets support as well as a certain level of advisory support to access venture capital and international startup funds.

We are happy to do this as a larger multi-bank policy initiative, but our medium-term strategy is clear, and we are focused on being the Bank for digital Ghana.’

Other members of the panel included Ashwin Ravichandran, Managing Director, MEST Africa; Mrs. Kosi Yankey-Ayeh, CEO – Ghana Enterprises Agency and Dr. Jerry Monfant- CEO – MBIC Group

Source: Ghana Web

Accra, Oct. 21, GNA – President Nana Addo Dankwa Akufo-Addo has apologised to the people of Cape Coast for denying that his Government had promised to build a Habour for the coastal community.

The President had on a Cape Coast-based radio station last Monday during his tour of the Central Region said the New Patriotic Party (NPP) had not made a commitment to build a Harbour in the city.

“I never said I was going to build a harbour in Cape Coast. I said I was going to build a landing site like what I’ve done in these six other places in the Central Region. Cape Coast will also have its landing site, and the construction of that will start next year, ” he told the show host in Cape Coast.

That statement had generated angst among Cape Coast residents, who have expressed disappointment over that development.

But in the 2020 Manifesto of the NPP, a commitment was made to construct a Harbour at Cape Coast.

“Let me confess, I made a mistake on the Cape Coast statement. I try to look at the manifesto before I go [to every region]. I saw one-page talk about landing sites and I didn’t go further.

“Presidents are human after all, we are not supermen. We make mistakes,” he said on said on Accra-based Peace FM on Thursday.

“But in any event, even with the mistake, I still think we have to rethink a lot of things. We have Harbour in Elimina which is being developed, obviously Takoradi and another projected for Cape Coast. I think some rethinking has to go on for us to be able to find what is the value for money arrangements, ” he stressed.

Touching on the economy, the President said he was encouraged by the outcomes of the policies and programme implemented, despite the setbacks COVID-19 Pandemic

He said that although the problems of the country cannot be solved all at once, a significant effort was being made to ensure that everyone got what was due them at the end of the day.

On corruption, President Akufo-Addo said his government had shown greater commitment to ensuring transparency and accountability in his Governmentt.

Source: Ghana News Agency

UKAID, World Education Ghana in partnership with Pro-Link empowered a total of 886 disadvantaged and marginalized girls made up of 204 girls with disabilities and 682 girls who have gone through early marriage, exchange marriage, forced marriage, teenage pregnancy, never been to school and school drop-out before primary four (P4) in Nkwanta South Municipality.

The girls were selected from thirty-one communities namely Dadiase, Kromase, Shiare, Odomi Challa, Gekorong, Keri, Abrewankor, Nyambong, Kpapu-Akura, Agou-Kunji, Agou Fie, Dawa-Akura, Dawa West, Bonakye-Asuogya No.1, Jumbo No.1, Bonakye-Asuogya No.2, New Agou No.1, Chaiso, Ahodwo, New Agou No.2, Salifukrom, Brewoniase North, Pusupu, Brewoniase South, Bontibor, Odumase Adele, Ashiabre, Kechebi, Alokpatsa, Kechebi-Nsuogya, Tutukpene.

The selected girls were taken through Accelerated Learning Program (ALP) i.e. Literacy, Numeracy, and Life Skills after which they acquired Vocational Skills in Pastries and bread baking, Soap, powder and detergent making, Hair braiding, and Bead decoration. The girls, after their vocational skills training, will be provided with start-up capital to launch their businesses.

Strategic Approaches to Girls’ Education (STAGE) project sourced its funding from Foreign Commonwealth and Development Office (FCDO) through the Girls’ Education Challenge. STAGE project with a slogan of “Leave No Girl Behind” aimed to bring a holistic approach to the education of the girls. Lower the barriers that they face as an individual within the community they live in, schools and system levels.

In addition, advocacy meetings were held with municipal and community stakeholders to address issues of gender inequality and social inclusion, gender-based violence (GBV), and safeguarding vulnerable ones in the communities.

To climax the second cohort of the project, a graduation ceremony was held, where the girls were presented with National Vocational and Technical Institute (NVTI) Certificate. At the ceremony, Executive Director of Pro-Link, Mr. Edem Samuel Assisi admonished the girls to put the skills acquired into use and establish their business as expected.

Program Manager, Mr. Mawusi Tsaku pledged Pro-Link’s continued support for the girls, and told them “even though the project is phasing out from the municipal, it does not mean they will leave them but they will be at their disposal to assist them if the need arises”.

The Southern Sector MEL officer Mr. Micheal Barnor who represented the country director of World Education Inc. Thank stakeholders for embracing STAGE Project since its inception he encouraged the graduands to make the most use of their time in running the businesses after they receive their start-up capital.

Mr. Crence Dogbey the representative of Nkwanta South MCE commended UKaid through World Education Inc. for working to improve the lives of the marginalized girls in the Municipal further assured that the assembly will enroll girls with disabilities on leap program in the next phase of registration.

Some of the girls who shared their testimonies could not hide their joy especially those with disabilities. They assured project officials and stakeholders that they will make use of what they have learned and do the needful thing by starting their businesses.

Source: Ghana Web

Division One League side, Tema Youth have confirmed that goalkeeper Christian Addai has undergone a successful leg surgery.

Addai, who is the captain of the side picked up a horrific injury Friday in the Super Cup games.

The enterprising goalie had a decent game on the day and was on the verge of wrapping his clean sheets until he sustained that horrific injury on the 83rd minute after crushing with an opposition forward Andrews Baidoo.

He went through a surgery on his broken leg last Wednesday and has been accomplished successfully as he look to bounce back stronger in the course of the new season.

Tema Youth confirmed on Twitter; “We’re glad to bring to the notice of the general public and the sporting fraternity that our Captain Christian Addai has successfully undergone a surgery on his broken leg. Thank you all for your fervent prayers and support.”

Tema Youth edged out GPL newbies Bibiani Gold Stars by 1-0 at the Madina AstroTurf last Friday in the maiden edition of the Division one Super Cup.

Tema Youth will play Skyy FC in the finals of the Super Cup on Sunday.

Source: Modern Ghana

Accra, Oct. 21, GNA – Dr. Patrice Motsepe President of the Confederation of African Football (CAF) on Thursday, October 21, joined scores of Football Administrators, the Corporate Community of Ghana, Businessmen/Women and the Executive Council of the Ghana Football Association (GFA) for breakfast at the Kempinski Hotel in Accra.

The meeting was part of the activities of the CAF President who is in Ghana on a two-day working.

Present at the meeting were Youth and Sports Minister Mr. Mustapha Ussif, Chief Director of Ministry of Youth and Sports Mr. Hafiz Adams and GFA President Mr. Kurt Edwin Simeon-Okraku. Others included Vice President Mr. Mark Addo, General Secretary Mr. Prosper Harrison Addo (Esq.), Deputy General Secretary Mr. Alex Asante.

Executive Council Members of the GFA, Dr. Ransford Abbey, Nana Sarfo Oduro, Mr. Samuel Anim Addo, Mr. George Amoako, and Mr. Frederick Acheampong were also present.

The meeting discussed issues relating to corporate sponsorship, the impact of football in changing the lives of the African Youth, Government’s support in providing infrastructure and financial support for football development.

Top officials from Woodin, KGL Group, Multi Choice (DSTV), First National Bank, Accra Breweries Limited, Rana Motors (KIA), Nesstra Ghana Limited (Suvinil Paint) Adonko Next Level Energy Drink, Vanguard Assurance and Etranzact took part in the breakfast meeting.

Former Chairman of the Ghana Football Association Alhaji M.D Jawula, CEO of the Ghana Tourism Authority Akwasi Agyemang, Club Licensing Manager Dr. Kwame Baah Nuakoh and Madam Hilary Boaten, Chairperson of the Women’s League Board were present.

Regional Football Association Chairmen for Central – Robert Duncan, Greater Accra, Samuel Aboabire, Volta, Daniel Agbogah, Upper West, Alhaji Yahaya Sadugu, Northern, Alhaji Abu Hasan, Brong Ahafo, Ralph Gyambrah, and Western, Simon Ehomah also attended the event.

Dr. Patrice Motsepe who took over the reins of CAF in March this year is in Ghana for the first time since he was elected into power following the exit of Ahmad Ahmad.

Source: Ghana News Agency

The Minister for Communications and Digitisation, Hon Ursula Owusu-Ekuful would be receiving the digital leader of the year award at the 11th Ghana Information Technology & Telecom Awards (GITTA 2021) scheduled for October 29th, 2021 at the Mövenpick Ambassador Hotel in Accra.

The Digital Leader of the Year Award is in recognition of her impeccable role in driving digitalization in Ghana as well as her role as Minister for the Ministry of Communications and Digitalisation which has birthed several initiatives and innovations.

Her leadership has birthed initiatives such as, Girls in ICT Initiative, the E-transform project which is rehabilitating 25 selected Post offices to provide e-Services, the Rural Telephony and Digital Inclusion Project, set up of ICT laboratory centers across the country among others.

More also, her role in the establishment of Ghana’s National Cyber Security Centre in 2018 is laudable and phenomenal. As its establishment recently led to Ghana’s cyber security rating as number three in Africa by the International Telecommunications Union (ITU) on its Global Cybersecurity Index (GCI).

She is a major leap from the 11th position attained in the previous rating of 32.6 percent in 2017 and 43.7 percent in 2018

Indeed Ursula’s passion for Ghana’s digital space is remarkable as her initiatives and projects have created a facelift for Ghana’s digital economy and facilitated the nation’s rapid economic growth.

The Minister who has confirmed her attendance at the 11th Ghana Information Technology & Telecom Awards ceremony will also deliver a welcome address where she will be discussing the future of digitization in Ghana.

The 11th GITTA, themed, Rewarding and Promoting Excellence in Digital Innovations” will bring together the crème de la crème and top decision-makers in the sector while promoting and inspiring innovation in Ghana’s ICT industry as a regional leader.

Described by many as the ‘Oscars’ of the ICT and Telcom Industry in Ghana- the Ghana Information Technology & Telecom Award powered by InstinctWave, an ISO certified company in partnership with Ghana Telecom Chamber has become the benchmark of excellence in Ghana’s ICT Industry which celebrates organizations and individuals at the forefront of digitization with innovative products and services that keep the sector exciting.

The awards will also recognize digitization across all sectors, including the Public Sector, Banking, Telecoms, ICT, Manufacturing, Agriculture, Health, and all other sectors involved in digitization.

GITTA will shine the spotlight on those working across the information technology industry and innovators who have worked tirelessly to deliver top-notch technological innovations that ultimately achieve incredible successes for their clients.

InstinctWave Chief Executive Officer, Mr. Akin Naphtal, expressed his excitement about the 11th edition of the awards scheme, describing it as a catalyst of innovation and digitization on the African continent at large.

“We cannot underestimate the role of the technology and digitization and its importance to national development and the development of the entire continent of Africa”. Mr. Naphtal noted.

This year’s event promises to be an upgrade of previous editions with leading telecommunication and IT companies vying for glory.

Source: Ghana Web

Swindon Town FC manager, Ben Garner has heaped praise on Ghana goalkeeper Jojo Wollacott.

The young and composed goalkeeper returned to duty for the Robins on Sunday after featuring for the Black Stars in the doubleheader of the 2022 Fifa World Cup qualifiers against Zimbabwe this month.

Wollacott was selected ahead of Lawerence Ati-Zigi in the absence of Richard Ofori for both games.

The 25-year-old helped his side to beat Sutton United 2-1 in the EFL League Two on Sunday at the Borough Sports Ground in Sutton, south London.

“Jojo Wollacott had been away but he’s done ever so well this season,” said Ben Garner.

“He had gone away, won two caps for his country and massive recognition for him for that. He came back in with us last Friday and I didn’t feel comfortable with putting a player back in the team with just one day’s training, and Lewis Ward had done so well.

“It was a tough decision, Lewis Ward deserved to stay in the team, Jojo Wollacott deserved to go back in and I’m very fortunate to have two wonderful goalkeepers regardless of the headaches that give me,” Garner concluded.

The Ghanaian safest-pair-of-hands work rate this season has seen Swindon ascend to the third position on the league log with twenty-three points securing him his maiden Ghana call-up.

Wollacott is expected to return to Ghana’s squad for the final Group G games next month against Ethiopia and South Africa.

Source: Modern Ghana

Accra Hearts of Oak have left the shores of Ghana for Morocco for their 2nd leg encounter of the preliminary round of the Caf Champions League.

The Ghana Premier League powerhouse left with Emirates Airlines at 17:00GMT on Thursday evening.

The Phobians will be hosted at the Stade V Mohammed for the second leg game against Wydad Athletic Club on Sunday.

Hearts of Oak recorded a slim 1-0 win over the Moroccan side in the first leg at the Accra Sports Stadium with Isaac Mensah scoring the only goal of the game in the first half.

A total number of 24 players together with the technical team and a leader of the delegation left the country today.

The much-anticipated showdown has been scheduled to kick off at 18:00GMT.

Hearts of Oak will be hoping to secure a place in the group phase for the first time since 2006.

Below is a full list of the squad for the game.

GOALKEEPERS

Richard Attah, Richmond Ayi, Richard Baidoo, Ben Mensah

DEFENDERS

Fatawu Mohammed, Mohammed Alhassan, Nuru Sulley, Caleb Amankwah, Sumaila Larry, Raddy Ovouka, Robert Addo Sowah, William Dankyi

MIDFIELDERS

Emmanuel Nettey, Frederick Ansah Botchway, Ibrahim Salifu, Salim Adams, Enock Asubonteng.

FORWARDS

Victor Aidoo, Isaac Mensah., Afriyie Barnieh, Kofi Kordzi, Suraj Seidu, Isaac Agyenim Boateng, Patrick Razak.

Source: Modern Ghana