May 26, 2023

We will keep supporting MSMEs to expand and become successful – GEA

The Ghana Enterprises Agency (GEA) has hosted a stakeholder engagement for women and youth in Micro, Small, and Medium Enterprises (MSMEs) to help them better their enterprises.

The project is part of efforts to let women and youths in MSMEs ask questions about their varied jobs and obtain answers.

The Chief Executive Officer of GEA, Kosi Yankey-Ayeh, believes that stakeholder involvement can help enhance MSMEs in the country.

The stakeholders’ engagement comes after the institution launched Women in MSME and Youth in MSMEs, with over GHC100 a million invested in this new project.

She stated that the government seeks to strengthen an entrepreneurial nation by giving some of the enablers that make a success through the women in MSME and youth in MSME programmes.

Access to funding and markets, mentorship, strategic partnerships and digital linkages, technical assistance, and business advisory support services are examples of these.

Kosi Yankey-Ayeh went on to say that this stakeholder engagement is taking place at the local level to achieve successful results.

She further noted that her institution follows up on funds supplied to entrepreneurs in MSMEs to ensure that the funds are utilised for their intended purpose.

“Two weeks ago, we launched the women’s MSME programme and the youth in MSME programme. We’ve come to the local community to interact with them so they may ask any questions they have about the application process or any issues they face. This involvement would help them comprehend our job so that they could effectively complete the processes,” Kosi Yankey-Ayeh said.

“I would also encourage individuals who have applied and been successful to use the loans for the reason for which they applied. The majority of the businesses that benefited from our loans expanded, while others hired more employees. Individuals in farming, medicine, and ICT, among others, have benefited. We always follow up on these companies. We’ve had multiple successes.”

Source: Ghana Web

May 26, 2023

Why China’s contributions to the World’s Economic Growth outweighs G7 countries put together

Data from the World Bank has proven that China’s contributions to the world’s economic growth surpass that of the G7 countries put together. This remarkable feat has positioned China as a significant driving force behind the world’s economic growth and progress and this is a result of the following conditions:

It cannot be disputed that China’s manufacturing sector has been a key driver of its economic success. The country has positioned itself as the world’s factory, offering low-cost labor and a vast production capacity.

This has attracted multinational corporations seeking to leverage China’s manufacturing prowess. China’s exports, ranging from consumer electronics and textiles to heavy machinery and automobiles, have flooded global markets, fueling economic growth and providing affordable goods for consumers worldwide.

One would also agree that China’s commitment to developing its infrastructure has played a pivotal role in its economic ascent. The construction of extensive transportation networks, including high-speed railways, modern airports, and an extensive road network, has facilitated the efficient movement of goods and people within the country.

These infrastructural advancements have not only stimulated domestic economic growth but have also enhanced China’s connectivity with the world, enabling smoother trade and international commerce.

Globally, China has made significant strides in technological innovation and development. The country has invested heavily in research and development, leading to breakthroughs in various fields such as telecommunications, renewable energy, artificial intelligence, and biotechnology.

Chinese companies, such as Huawei, Alibaba, and Tencent, have become global technology giants, driving digital transformation and revolutionizing industries worldwide. China’s technological prowess has boosted productivity and competitiveness, making it a crucial contributor to global economic growth.

It is agreeable that China’s engagement in global trade and investments has created new opportunities and propelled economic growth. The establishment of initiatives like the Belt and Road Initiative (BRI) has facilitated infrastructure development and strengthened trade relationships between China and other countries.

China’s active participation in regional and global trade agreements has expanded market access and increased trade volumes, benefitting both China and its trading partners.

China’s remarkable contribution to the world’s economic growth cannot be overlooked. Through rapid economic expansion, manufacturing and exports, technological advancements, global trade, and investments, China has become an influential player in the global economy.

As China continues to innovate, invest, and engage in international collaborations, it is poised to sustain its contribution to global economic growth, shaping the economic landscape of the future.

Source: Ghana Web

May 26, 2023

Unorthodox Philanthropy partners with ACTT to bridge skills gap and create sustainable careers in Ghana’s TVET industry

African Centre for Technical Training (ACTT), a technical/vocational skills training and development institute in Ghana, announced today that it has received a grant from Unorthodox Philanthropy (UP), a charitable organisation focused on identifying great people and supporting innovative and globally impactful initiatives.

The Founder, Penelope Brooke Thompson, was awarded as an Extraordinary Leader Transforming a Field. This comes shortly after she was named one of 100 Most Impactful Change Makers in Ghana by Humanitarian Awards Global. The funding will support ACTT’s goal and mission of empowering artisans by continuously providing world-class, demand-driven, hands on training and the 21st century business skills required to power Africa’s industrial transformation.

ACTT aims to help bridge the technical skills gap in the industry by offering a range of high-quality technical and vocational training programs to certify artisans, mentoring and support services, and access to job placement opportunities.

“My team and I are incredibly honoured and grateful for the support we have received from UP. This represents a major breakthrough for us, and will help us achieve our next milestones. But more importantly, we appreciate having UP in our corner because beyond the funding, they care about our success, and scaling intended impact across Africa. There are many great opportunities in TVET, and we believe that with the right partnerships we will be able to impact thousands of lives.” – Penelope Brooke Thompson.

Unorthodox Philanthropy has a history of supporting innovative and impactful initiatives that create large-scale improvements in human welfare in various sectors. The partnership with ACTT reflects its commitment to promoting economic empowerment and sustainable development across the globe.

“Last year, Unorthodox Philanthropy launched a global search to identify extraordinary leaders that have a unique vision, a strong entrepreneurial nature, and an outsized ambition, passion, and commitment to transform a field. UP is thrilled to be supporting Penelope on her journey to build the next generation technical and vocational training institute for artisans across the African continent.” – Katherine Clements

About ACTT>

ACTT was founded in 2022 to reimagine technical and vocational education and training, and create sustainable, alternative pathways for young people to be gainfully employed. We are rolling out a number of construction-related programs starting with Plumbing Systems Design in September this year in Accra, Ghana. Senior high school graduates, unemployed university graduates, early school dropouts and artisans (both masters and apprentices) are all encouraged to apply by visiting our website www.actt.edu.gh or calling +233 256556344 for assistance.

Source: Ghana Web

May 26, 2023

British retail sales rebound in April despite inflation pressure

British retailers saw sales return to growth in April as shoppers continued to spend despite continued high inflation, according to official figures.

Supermarkets were among retailers to report higher sales despite food inflation remaining close to a 45-year-high.

The Office for National Statistics revealed that retail sales volumes increased by 0.5% last month, following a fall of 1.2% in March.

Economists had only predicted an increase of 0.3% for the month.

However, the ONS added that sales volumes were down 3% on the same month last year, although shoppers spent more due to higher pricing.

ONS chief economist Grant Fitzner said: ‘Retail sales grew, partially rebounding from a poor weather-affected March, with jewellers, sports retailers and department stores all having a good month.

‘Despite continued high food prices, supermarkets also recovered from the fall in March.

‘However, these were partly offset by a drop in the amount of fuel sold, despite prices also dropping.’

Non-food retailers reported that sales grew by 1% in April, after March’s wet weather had knocked high streets.

This included strong sales in watches and jewellery, while sports equipment was also in high demand.

Meanwhile, department store sales increased by 1.7%, as they recovered from a 3% fall in the previous month.

Elsewhere, sales volumes at food stores increased by 0.7% for April.

It comes despite the ONS revealing earlier this week that food inflation has remained at high levels, with prices up 19.3% in April compared with the same month last year.

Rises for supermarkets and other high street stores were partly offset by the lower demand for fuel, with petrol stations and forecourts reporting a 2.2% decrease for the month.

Lisa Hooker, leader of consumer markets at PwC, said: ‘Overall, the trajectory remains positive, with the best quarterly improvement in retail sales volumes since August 2021.

‘With this month’s sales likely to be helped by the coronation and additional bank holidays, we expect the positive momentum to continue in the short term.

‘However, retailers will be hoping that the current green shoots are not dampened by higher interest rates or other macroeconomic challenges over the summer.’

Helen Dickinson, chief executive of the British Retail Consortium, said: ‘Sales should improve further as we enter the summer months, especially with inflation starting to ease and consumer confidence slowly stabilising.

‘Government must ensure it does not sabotage this momentum by adding cost pressures onto retailers from new policies, as these will mainly serve to push prices back up for people up and down the country.’

Source: Ghana News Agency

May 26, 2023

Cardinal Namdini resettles two communities to pave way for large scale mining

The Cardinal Namdini Mining Limited, a subsidiary of Shandong Gold, a Chinese mining firm, has resettled two communities in the Talensi District of the Upper East Region to pave the way for large scale surface mining in the area.

The two communities; Digaare (Accra site) and Biung, were originally occupying the lands leased by the Government to the Chinese company to engage in large scale mining for 15 years.

The mining company built 121 urban type services fitted and well laid concrete residential buildings for the two communities, reticulated electric power, improved water supply and sanitation and improved community roads access.

Social amenities such as well-equipped school infrastructure with disability friendly Water, Sanitation and Hygiene (WASH) services, recreational and healthcare facilities, teachers and nurses’ accommodation, mosques and churches, graveled roads connecting houses among others have also been provided.

Provisions have also been made for future development around each household while lands have been secured for the residents to engage in agricultural activities.

These were revealed when a delegation from the Ghana News Agency (GNA) visited the company and its operational areas as part of an agreement between the mining company and the national news wire.

The visit, led by Mrs Beatrice Asamani Savage, the Director of Editorial, GNA, was to get first-hand information about the company’s operations and the impact of the activities on the communities to ensure accurate reportage.

Mr Kofi Adusei, the Community and Social Responsibility Manager, Cardinal Namdini Mining Limited, said the resettlement was done in accordance with the Minerals and Mining Act of 2006, Act 703, and Minerals and Mining Compensation and Resettlement Regulations of 2012, L.I. 2175.

These enjoin mining companies to resettle all persons who would be affected by their operations.

He said although most of the facilities provided were not in the old settlements, it was the policy of the company to contribute to the improvement of its operational communities.

As part of the resettlement plan, a livelihood restoration programme was introduced where farmers were provided with agriculture extension services, Mr Adusei said.

He said farm inputs and implements, and tractor services were also provided to improve their agriculture productivity, to reduce the vulnerability the resettlement had exposed them to.

‘With the help of a local NGO, called the Widows and Orphans Movement, we identified some vulnerable people within the affected area, and we provided vulnerable assistance interventions,’ he said.

‘These include enrolling them onto the National Health Insurance Scheme, providing them with monthly food ration and cash, and medical services through counseling to help them to settle well in their new environment.’

‘We also trained some in livelihood restoration and we gave the families animals such as goats and chicken to rear. So, in all, we supported about 200 farmers with regard to the livelihood restoration programme and 12 vulnerable households.’

The mining company would continue to support the communities through interventions when it officially began operations in 2024, Mr Adusei said.

The area is a green field and is expected to generate 150 million tonnes of ore to give five million ounces of gold within the 15 years.

Currently, the company is investing about US$520 million to construct its infrastructure base including the operational offices and staff accommodation, processing plants, tailings storage facilities among other things to allow for full mining operations to begin 2024.

Apart from engaging more than 800 Ghanaians in the construction phase, the company had also invested US$6 million to construct 25.3 kilometers of roads connecting Bolgatanga to the mining site.

Source: Ghana News Agency

May 26, 2023

Judges do not receive Exgratia – Justice Sackey Torkornoo

Justice Gertrude Araba Esaaba Sackey Torkornoo, the Chief Justice nominee, Friday reiterated that Judges do not receive Exgratia when she appeared before the Appointment Committee of Parliament for vetting.

Mr Patrick Boamah, a Member of the Appointment Committee, and MP for Okaikoi Central, wanted to know the nominee’s view on the payment of exgratia to the Executive and the Legislature, which also affected the Judiciary.

Mrs Justice Sackey Torkornoo noted that consistently the Association of Magistrates and Judges had responded to the question of exgratia for judges and made it clear that judges did not receive exgratia.

‘We continue in office; we don’t go anywhere until we retire. We don’t have a cycle and, therefore, the discussion of exgratia is not actually applicable to us,’ she stated.

The Provision of the 1992 Constitution, where the name of Judges was mentioned, dealt with how their salaries were set, she said, and that Article 71 created room for a Presidential Committee, which did that.

President Nana Addo Dankwa Akufo-Addo, in April, nominated Justice Torkornoo as Chief Justice to avoid any vacuum following the?retirement?of Chief Justice Kwasi Anin-Yeboah.

Source: Ghana News Agency

May 26, 2023

AU Day: Morocco pushes for unity, South-South cooperation

The dream of the founding fathers of the Organisation of African Union (OAU) to build a united Africa was resurrected when the Kingdom of Morocco observed series of ceremonies at its capital, Rabat, on Thursday, to commemorate the 60th ‘Africa Day’ celebration.

‘Africa Day’, which is observed annually by all member states, celebrates the establishment of the OAU, now the African Union (AU) in 1963.

The Kingdom held series activities aimed at echoing Morocco’s legacies and contributions towards the liberation of the continent decades ago and pushed for the integration of Africa in line with the vision of the founding fathers of the then OAU.

Morocco is also advocating for the deployment of Africa’s own expertise and resources to solve challenges confronting the continent while boosting trade, knowledge sharing, and cooperation within the continent.

A special ceremony was held at Morocco’s Ministry of Foreign Affairs at Rabat Thursday, which assembled an array of dignitaries from across the continent for the historic celebration.

The event was characterised by speeches from dignitaries, who were unanimous in their call for the unification of the continent and the promotion of South-South cooperation particularly in the areas of intra-Africa trade.

There was also a photo exhibition at the Ministry, showcasing historic moments that details how Morocco spearheaded and coordinated Africa’s liberation efforts.

In a documentary titled: ‘Morocco and the liberation movements in Africa’, Morocco documented its instrumental role in Africa’s emancipation and the vision of His Majesty King Mohammed VI to forge strategic and mutual partnerships with African countries.

The events for the commemoration were crowned at the King Mohammed V Theatre in Rabat, where patrons were thrilled with cultural performances from selected African countries, including Ghana with a key message: ‘unity in diversity’.

Thereafter, participants were offered the opportunity to taste selected local dishes of some African countries, that displayed their rich cuisine.

After securing independence in 1956, the Kingdom of Morocco, under the able leadership of the late King Mohammed V, convened what became known as the Casablanca Conference in 1961 to mobilise prominent African leaders at the time towards the unification and total liberation of the African continent.

The North African country subsequently provided diplomatic and military support to Africa’s liberation movements and provided shelter for some African leaders, including Nelson Mandela (South Africa), Amilcar Cabral (Guinea Bissau), Moussa Traore (Mali), and Robert Mugabe (Zimbabwe).

The OAU was subsequently established in 1963 as a pivot to achieving a self-sufficient continent that could compete successfully at the global stage.

Nasser Bourita, Morocco’s Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, who chaired the activities, said the late King Mohammed V made Morocco the home of liberation of African countries.

He said Morocco’s concentration was to build an Africa that could develop solutions for its own problems while boosting inter-country collaboration.

Mr Bourita said it was important for Africa to enhance the value of its cultural identity and indicated that ‘the flame of memories of the struggle should not be allowed to die’.

‘We need to develop Africa, build bridges that stay together, he said, adding: ‘we must build an Africa that brings solution to its own problems’.

Mr Mouhamadou Youssifou, the Dean of African Ambassadors to Morocco, appealed to African countries to support the effective implementation of the African Continental Free Trade Area (AfCFTA) agreement.

He said the agreement should enable the continent to take millions of its citizens out of poverty while reducing dependency on countries outside the region.

Mr Youssifou also called for measures to be put in place to ensure that the opening up of the continent for trade would not be to the advantage of ‘great’ conglomerates and multinational firms.

Source: Ghana News Agency

May 26, 2023

NPP flagbearership: Kwabena Agyepong picks nomination form

Mr Kwabena Agyei Agyepong, flagbearer hopeful of the New Patriotic Party (NPP) Friday picked the nomination form to contest the Flagbearer position of the NPP.

The former General Secretary of the NPP said his picking of the nomination form marked the beginning of great things to come.

He promised to usher in ‘A New Dawn’ on Ghana’s political landscape anchored on the restoration of cherished values of service, sacrifice and selflessness, which he called the ‘Triple S Doctrine’.

Mr Agyepong expressed a passion to see to the transformation of the country, promising to cut waste by leading a lean, effective and efficient government machinery primed to deliver meaningful development to the underserved population.

He advised NPP delegates to choose wisely, looking out for ‘thinking leaders’, those with innovative ideas and a clear understanding of where they wanted to take the country to.

He implored the delegates to trust his capacity and fortitude to take difficult and uncomfortable measures needed to reverse Ghana’s economic decline.

Mr Agyepong urged them not to mortgage their future for a pittance and denounce any monetary and material overtures and inducements.

He called on other flagbearer aspirants to accept his call for an open debate, adding that, Ghanaians were entitled and deserved to examine and know what each of the aspirants stood for.

‘Our ideas, policy priorities and preferences, our temperament and character all matter. If you want to lead the people of Ghan, then you should be humble enough to submit yourself for scrutiny by the people,’ he added.

He expressed confidence in the Party’s National Executives and Elders to ensure that the upcoming Presidential Primaries were conducted in a spirit of fairness and equity devoid of manipulation, coercion, favouritism and utmost respect for the Party’s Code of Conduct regarding same.

Source: Ghana News Agency