Category: Business

The South African Consulate in Lagos has called on Nigerian businesses to take advantage of South Africa’s hosting of the regional economic group, BRICS, an acronym for Brazil, Russia, India, China, and South Africa, this August.

The Consul-General of the Lagos Consulate, Bobby Moroe, made the call on Tuesday during a roundtable with the Nigerian business community with the theme, “Promoting Regional and Continental Trade through AfCFTA and BRICS.” According to him, while South Africa is currently the only African member of the BRICS, it is hosting on behalf of the entire continent.

Moroe said Nigeria as well as other African countries will also benefit immensely from participating in the meeting as countries on the continent share similar challenges, which require similar solutions.

South-South collaboration

While emphasizing the importance of collaboration of all countries in the Southern part of the globe, Moroe said:

“In the post-COVID-19 world order, South-South cooperation has become very important. And I think South Africa has played a very critical role in terms of ensuring that its membership of BRICS, as the only African country goes beyond its call of duty to represent the entire continent’s aspirations and various systems. The challenges that South Africa faces, socio-economic and political challenges faced by South Africa are no different from the challenges that are facing the entire continent. So, whatever it is that we advance at the level of BRICS formation, we advance not only on behalf of South Africa but on behalf of the rest of the continent.

“This is why the chairperson of the BRICS Business Council, Ms Busi Mabuza is here on a roadshow. The purpose of this Roadshow is to say to the Nigerian business community, BRICS is at your disposal. As we prepare to host the BRICS summit in August, we call upon you as a country. We call upon you as the relevant stakeholders to take advantage of our membership and participate fully.”

Why Nigeria’s participation is important

Speaking at the meeting, the Chairperson of the BRICS Business Council, Ms Busi Mabuza, said Nigeria’s participation at the BRICS meeting is important because the country is the largest on the African continent in terms of economy and population size.

“Nigeria is an economy that we can’t ignore. And as South Africa, we are aware that other countries have an interest not just in South Africa, but the entire continent. Because of the size of Africa’s population of 1.2 billion people, and the relatively low GDP, there is a huge opportunity for growth in Africa. Therefore, anybody with a long-term investment view wants to be on this continent.

“Now, the African Union, of course, declared the African continental free trade area, which if implemented, well should increase the trade opportunity for us, amongst each other. It is very important for South Africa, that Nigeria which is an anchor on the western side of the continent, is at the same side of the table with us as we sit in August under South Africa’s gesture and engage the BRIC partners on what it is that we would like to achieve for the next 10 years,” Mabuza said.

Also speaking at the event, Economic Counsellor at the South African High Commission, Abuja, Mr Greg Munyai, said the meeting in Lagos was significant because it helped to strengthen bilateral relations between Nigeria and South Africa, and as well highlighted the opportunities for collaboration through the BRICS and AfCFTA platforms. He also emphasized that the participation of Nigerian businesses at the BRICS meeting would be a great benefit for the country and the continent, which was why awareness had to be created in Nigeria about the August meeting in South Africa.

Brand South Africa in partnership with the South African Consulate in Lagos, Nigeria, and South African Tourism hosted South Africans and friends of South Africa in Nigeria on Saturday 1st July 2023 in Lagos, encouraging them to be advocates of the country and to live exemplary lives in their new host country.

South Africa will host the 15th BRICS Summit at the Sandton Convention Centre in Sandton, Johannesburg, from 22 to 24 August 2023.

Source: Ghana Web

The Coalition of Aggrieved Customers of Menzgold (CACM) has appealed to the Speaker of Parliament to admit, move, and deliberate the motion filed on their behalf before the next mid-year budget is presented on July 27, 2023.

The aggrieved customers are dissatisfied are concerned that the House has not considered the motion two years after they submitted it.

This was stated in a press release signed and issued by the Convener and PRO of the CACM, Frederick Forson, on Tuesday in Accra.

The Attorney General, according to the release, has been unable to disclose to them how much the state earned from the public auctioning of Menzgold assets, despite their request for disclosures under the Right to Information Act of 2019.

“We also note that EOCO which is the organ of state investigating the matter, publicly said in 2022 they do not know which law Mr Nana Appiah Mensah (aka NAM1), CEO of Menzgold violated and so prosecuting him is difficult. Strangely, the criminal prosecution against NAM1 has seen 35 different adjournments with no hope in sight. The lackadaisical attitude of Ghana’s Attorney General towards prosecuting NAM 1 goes to confirm the assertion by EOCO,” he added.

“We have witnessed economic, emotional and social tortures resulting in deaths of over 206 customers, three people have taken their own lives including a university lecturer, some gone insane, many people are down with stroke, family unions have been dismantled, some customers have gone blind, whilst others dreams have been shattered,” he added.

Source: Ghana Web

The Ghana Wing of the Women in Shipping and Trading Association (WISTA), has organised an educational forum in Accra for women entrepreneurs in the Africa Continental Free Trade Area.

They did this in collaboration with the United States Agency for International Development (USAID) among other partners.

In addition to helping the women understand the free trade agreement, its benefits, and requirements, the forum also served as an opportunity for these entrepreneurs to showcase their products, and be introduced to newer markets and WISTA’s wide network pool.

Jemilat Mahama is the Secretary of WISTA International and Former President of WISTA Ghana.

“So through our colleagues’ other National associations, these women will be given the platform, the leverage to also market their products, and with such seminars they would have ideas. Women who are not even into business after this program and more yet to come will definitely come up with ideas,” he said.

Source: Ghana Web

A total of 6,417 households in the West Mamprusi Municipality of the North East Region have started receiving cash grant payments under the government’s Livelihood Empowerment Against Programme (LEAP) to support their welfare.

They formed part of the total 350,000 households across the country, who from Monday of this week, started receiving their cash grant payments under the LEAP initiative.

Hajia Lariba Zuweira Abudu, Minister for Gender, Children and Social Protection, who visited the Gaagbini community in the West Mamprusi Municipality to supervise the cash grant payments to the beneficiaries, said the government had increased the LEAP grants, adding it was helping to transform the lives of the beneficiaries.

Hajia Abudu said the beneficiaries were receiving two rounds of payment, adding giving that the grants had been increased by 100 per cent, the beneficiary households would be going home with four times the amount of money they were receiving previously under the programme.

She said, ‘One eligible member household was taking GHc64.00, and now they are going to take GHc128.00, and we are paying two sets. So, they will be going home with GHc256.00. Two eligible member household was taking GHc76.00 and is now taking GHc152.00, and will be going home with GHc304.00. Three eligible member household was taking GHc88.00, and now is going to take GHc176.00, and will be going home with GHc352.00, and four or more eligible member household was taking GHc106.00, and now is going to take GHc212.00, and will be going home with GHc424.00.’

She said, ‘that tells you that government has increased LEAP. I am happy that this is their farming season. A lot of them will use their money to start their farming activities’ and advised that the beneficiaries, especially women to use some of the money for other business activities.

She said, ‘LEAP does not know party colours. Every vulnerable person is expected to benefit from it.’

Hajia Abudu expressed gratitude to the World Bank for supporting the LEAP initiative and said the increase in the cash grants would help change the lives of the beneficiaries.

Mr Arimeyaw Somo Lucky, West Mamprusi Municipal Chief Executive, was optimistic that the cash grants would help the beneficiaries to increase their agricultural productivity.

Hajara Kassim, a beneficiary in the community, said the LEAP cash was helping to sustain her life, adding that the increase in the cash grant would help her buy other valuable items.

Barikisu Wuni, a beneficiary in the community, said she used her previous money to engage in petty trading but spent the money recently because of the difficult economic situation in the country.

She said the money she received during this new payment period would help to revive her petty trade, which was buying and selling rice.

Source: Ghana News Agency

Ashanti Month is a Vodafone Ghana initiative dedicated to the Ashanti region, aimed at rewarding Asanteman’s loyalty to the brand.

It encompasses a bouquet of activities including business and customer engagements, corporate social responsibility initiatives, and more. At the heart of these celebrations is the 66th Asantehene Golf Championship, which Vodafone is proudly headlining.

As part of its commitment to customer engagement, Vodafone hosted a special dinner for its long-standing customers in Kumasi. The event featured sumptuous cuisine, drinks, and entertainment by comedian OB Amponsah. Afterwards, the Vodafone team presented customers with unique souvenirs.

In addition to the special dinner, Vodafone invited some of its loyal customers to the Royal Dinner hosted by His Majesty Otumfuor Osei Tutu II at the end of the Asantehene Golf Championship. The event was both a celebration of golf and collaboration between Asanteman and Vodafone Ghana, and also an expression of gratitude for the continued support of Vodafone’s customers.

Tawa Bolarin, Vodafone Ghana’s Enterprise Business Unit Director, who was actively involved in customer visits, remarked, “At Vodafone Ghana, the customer is at the heart of everything we do. We are dedicated to not just providing exceptional services but also to engaging with our customers to understand their unique needs. This enables us to innovate and deliver solutions that truly make a difference in their lives.”

Vodafone’s innovative solutions has been instrumental in supporting businesses in the Ashanti region and throughout the country.

“Too Moorch” Mobile Package provides the most flexible, best value mobile package, enabling employees in the same organization to connect seamlessly and communicate for free. “Your Business Online” platform empowers SMEs to establish an online presence, while the Enterprise Wi-Fi service offers high-speed internet.

Additionally, the Merchant Interoperability solution, which allows businesses to receive mobile money payment from all customers irrespective of network, has contributed immensely towards direct revenue growth for businesses across the nation. Tawa Bolarin emphasized the importance of these products, stating, “These solutions have been invaluable to both SMEs and large enterprises over the years, especially in these challenging times.”

Vodafone Ghana’s Ashanti Month is a reflection of its unwavering commitment to customer satisfaction and sustainable development. Through its culture of engagement and feedback, Vodafone continues to solidify its position as a leader in the telecommunications sector, both within Ashanti and beyond.

Businesses interested in Vodafone’s products and services can visit any Vodafone retail store or explore the business section on Vodafone’s official website at

Source: Ghana Web

Mr Daniel Asare, Acting Chief Enterprise Business Officer at MTN, says the company feels the need to develop solutions that enable businesses to operate more efficiently and remain competitive and sustainable.

He said this was beyond creating opportunities for businesses to succeed and contribute to the development of the Ghanaian economy.

Mr Asare was speaking at the launch of the 2023 Edition of the MTN Business SME Month.

The long month activities would be held in Accra and Kumasi: SME Activations, Training Sessions for Selected SMEs, Focus Group Discussions, Customer Appreciation Programmes, Training on Chenosis for Young Developers, Presentations on MTN Business Solutions, Product highlights and quizzes and Market Fairs.

These activities will afford MTN the opportunity to get closer to the SME community and offer them relevant digital tools and solutions to help grow and scale up their businesses.

Over the years, SMEs have played a crucial role in the growth and development of Ghana’s economy, and they play a significant role in all economies globally and Ghana’s economy as well.

There are reports that suggest that they form about 90 per cent of business enterprises in the country and form around 80 per cent of the total employment in Ghana and account for some 60 per cent of the country’s GDP.

He said several conversations with SMEs show that they were looking for ways to reduce costs, improve turnover and increase productivity and efficiency.

‘In addition, the need for businesses to digitize has always been an issue but with the kind of challenges we all face, SMEs stand a better chance of surviving when they adopt digitalization and technological solutions,’ he added.

Mr Asare said digitalization could support SME integration into both local and global markets and with innovation and technology, SMEs could compile data and analyze their own operations in new ways, enhancing performance.

‘We are aware that SMEs face a financing gap in adopting technology and this is why MTN business is making it easier for SMEs to leverage fintech and innovation to improve their operations at affordable rates,’ he added.

The Acting Chief Enterprise Business Officer said considering the challenges faced in businesses, there was the need for SMEs to access solutions that were trusted, efficient and resilient to enable them to reap the full benefits of a connected world.

He said as a partner for SMEs, MTN Business would throughout this month get closer to SMEs and expose them to our SME Solutions such as SME Plus, Messenger and Business Manager, Microsoft 365 suite and Business Website.

These Solutions offer various Voice, Data and SMS packages that will enable them to reach more customers with their products and services.

SMEs will also be exposed to solutions that allow them to efficiently manage their finances and other administration functions.

Mr Selorm Adadevoh, the Chief Executive Officer of MTN Ghana, said SMEs was an opportunity for the country to grow and develop.

He said it was important for SMEs to get ready and the ecosystem and be competitive to take advantage of the AfCFTA programme.

Source: Ghana News Agency

Government has invested over GH¢800million in strengthening and developing the country’s micro, small, medium enterprise (MSME) space since 2017, Chief Executive Officer (CEO) of the Ghana Enterprises Agency (GEA), Kosi Yankey-Ayeh, has revealed.

The investment, which has benefitted over 900,000 MSMEs across the country she explains, has been crucial in driving the country’s economic growth and prosperity in the face of global economic difficulties caused by the COVID-19 pandemic and Russia-Ukraine conflict.

“Beneficiaries have seen their businesses develop and their communities benefit from the positive impact they have had. These successes mean that we cannot rest on our oars; we must work harder to make many more dreams come to life,” Mrs. Yankey-Ayeh said.

She said this at the 2023 MSME Day, which was under the theme ‘Building resilient and sustainable MSMEs to create one million jobs’.

Commenting on the theme, Mrs. Yankey-Ayeh assured that GEA will not relent in its quest to strengthen the capacity and competitiveness of MSMEs and maximise their contributions to the country’s economic and social development.

“As the apex government Agency mandated to promote and develop the MSME sector, we are proud of the role we play in supporting the MSME sector to grow; and we take pride in the fact that businesses are embracing and utilising all the support services we churn out for their continuous improvement and growth,” she stated.

“Your relentless efforts, entrepreneurial spirit and unwavering dedication have played a crucial role in driving Ghana’s economic growth and prosperity; and we ought to recognise and celebrate the immense contributions made by you, our MSMEs, in shaping our nation’s economic landscape,” Yankey-Ayeh added.

Over the years, the Agency through government has embarked on a number of initiatives with the objective of fostering an enabling environment for MSMEs to thrive. She stated that training and capacity-building programmes, business advisory and financial assistance have equipped MSMEs with the right tools to put them on a trajectory of growth.

“We will continue to do so to help them succeed long-term,” Yankey-Ayeh assured.

Thanks to partnerships with institutions including the Food and Drugs Authority and other regulatory bodies, the GEA said it has streamlined bureaucratic processes and reduced the constraints MSMEs face in mainstreaming and formalising their operations.

“We have always believed in helping MSMEs to thrive,” Mrs. Yankey-Ayeh said. “We understand the essence of providing them with access to financing, mentorship, training and networking opportunities. These are the building blocks of President Akufo-Addo’s entrepreneurial vision, and we believe by making these our guiding policies we will be able to help many entrepreneurs move from ideas to thriving businesses,” she added.

Source: Ghana Web

Mr Kwamena Quaison, Director of Science, Technology and Innovations, Ministry of Environment, Science, Technology and Innovations (MESTI), says adequate investment in scientific research and development will unlock the potentials of nuclear technology.

‘Taking such steps would yield more opportunities by creating new industries, new jobs, ensure food security, provide health solutions to the labour force and provide a cleaner and more sustainable future for all,’ he said.

Mr Quaison made the remarks at the Scientific Innovations Dialogue in commemoration of the Day of Africa’s Scientific Renaissance celebration in Accra.

The celebration, under the auspices of MESTI, was on the theme, ‘Harnessing the power of the atom for economic transformation through science and technology.’

The Director said nuclear technology could create new industries and jobs if the country took the necessary steps to build capacity, starting from the basic level of education.

He said, ‘Although an atom was the smallest building block for any substance, it possesses power for economic transformation. An atom has been a source of energy for the industrial revolution of many countries over the years, and with further advancements in this technology, it has become even more valuable.’

Mr Quaison said resilient economies depended on reliable and affordable energy hence the need to take a critical look at energy production and energy-consumption activities.

He noted the need to look at power generation sources, distribution and use, critically because the nexus between energy and development had been established and could not be over-emphasised.

The Director said Ghana’s Electricity generation had changed from 84 per cent -hydro and 14 per cent thermal to 38 per cent hydro and 60 per cent thermal.

He indicated this caused high tariffs due to gas price volatility and erratic gas supply.

Mr Quaison said 40 per cent of production cost for industries in Ghana was attributed to electricity cost, making it difficult for Ghanaian industries to stay competitive.

He said with almost no hydro potential left to exploit, Nuclear and Coal, as baseload options, were very attractive to help reduce tariffs and help the country undergo industrialisation.

Mr Quaison added that Ghana had also issued a request for information and received feedback for six large reactors and nine small modular reactors (SMRs).

Dr Samuel Boakye Dampare, Director-General of Ghana Atomic Energy Commission (GAEC), said Ghana continued to blaze the trail by offering research-driven solutions to societal issues in agriculture, health, environmental sustainability, energy, water resource management and geological mineral resources management.

He said GAEC’s research, through its Biotechnology and Nuclear Agriculture Research Institute (BNARI) and other collaborators, had worked to improve crop yields and produced new varieties for cassava, tomatoes and others that were drought-tolerant, disease-resistant and had better nutritional quality.

The Director-General said innovations and breakthroughs were attainable because of teamwork and collaboration among scientists and research institutions.

‘A typical example of this spirit of collaboration was the work between the Radiological and Medical Sciences Research Institute (RAMSRI) of the GAEC and the National Radiotherapy Oncology and Nuclear Medicine Centre of the Korle Bu Teaching Hospital in cancer treatment,’ he said.

Dr Dampare said GAEC expected the collaborations between the scientific communities of Ghana to be deepened and strengthened to enhance knowledge sharing and the churning out of innovations and technologies for the benefit of Ghanaians.

The Director-General said the Government, private sector industries and other stakeholders must commit to spending a lot more on Science, Technology and Innovations to realise their vision of economic transformation soon.

He said to increase innovation, productivity and economic growth, African governments should raise their national gross expenditure on research and development to at least one per cent of Gross Domestic Product (GDP).

Source: Ghana News Agency