Category: Business

Accra, Nov 21, GNA – Dr George Agyekum Donkor, the President and Chairman of the ECOWAS Bank for Investment and Development (EBID), has been awarded the prestigious Prix de la Fondation by the Crans Montana Forum at a ceremony in Geneva, Switzerland.

The Prix de la Fondation is awarded in recognition of an accomplished work and serves as a solemn encouragement.

A statement issued by EBID and copied to the Ghana News Agency on Monday said the award was presented to Dr Donkor by Prince Guillaume Jean Joseph Marie of Luxembourg and Crans Montana Founder and Chairman, Jean Paul Carteron.

It was an acknowledgement of his numerous contributions to the socio-economic development of the sub-region by spearheading strategic economic initiatives for job creation and dynamic leadership.

At a cocktail held at the Fairmont Hotel in Geneva, ahead of receiving the top award, Dr Donkor highlighted the global economic downturn created by the COVID-19 pandemic and the war in Ukraine.

“The whole world is in economic turmoil as a result of two external shocks, the COVID-19 pandemic and the war in Ukraine. As a result of these challenges, there have been escalating prices of food and energy and economies all over the world are suffering,” he said.

The EBID President said food and energy prices had gone up tremendously, which had affected the global commodity supply, resulting in price hikes.

Inflation was on the high side, especially evidenced in countries that had been experiencing low inflationary records like Japan.

“Japan had rather been fighting deflation but now they are also battling inflation,” he said.

Later in a presentation to the Crans Montana Forum, Dr Donkor said the ECOWAS Bank for International Development was more interested in the solutions than the challenges.

The Forum is a world leading international institution dedicated to public-private sector cooperation, which has become a meeting place for high level officials and top decision makers, including governments and businesses.

He called for a change in orientation and re-engineering of Ghana’s value system if it was to rise above the current economic circumstances.

“Unless there is a change within, there cannot be a change without,” the EBID President said, adding: “It is necessary to reinvent foreign policies and diplomatic action based on the necessary and unavoidable acceptance of the other.”

A lawyer and development banker by training, Dr Donkor’s career spans close to three decades, which had been a testament of people-centred leadership in a corporate setting.

Under his leadership, EBID has achieved remarkable successes including balance sheet growth of 22 per cent and 158 per cent oversubscription of its 2021 UEMOA (West African Economic and Monetary Union) bond issuance concluded within 24 hours, an indication of increased investor confidence.

Present at the ceremony were Mr Sidie Mohamed Tunis, Speaker of the ECOWAS Parliament, Mr Emmanuel Kwame Asiedu Antwi, Ghana’s Ambassador to Switzerland, and Mr Alexander Kwamina Afenyo-Markin, the Deputy Majority Leader of Parliament,  who is also a member of the ECOWAS Parliament.

The EBID is a leading regional investment and development bank, owned by the 15 ECOWAS Member States.

Based in Lomé, Togo, the Bank is committed to financing developmental projects and programmes covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services sectors, through its private and public sector windows.

 

Source: Ghana News Agency

Accra, Nov. 15, GNA – The Design & Technology Institute (DTI) has signed a Memorandum of Understanding (MoU) with the Multimedia Group Limited (MGL) to drive the adoption of Precision Quality in Ghana.

Through this MoU, DTI and MGL expressed the hope to create awareness about the Precision QualityTM Movement.

A statement issued in Accra jointly by both Organisations said Precision Quality was a concept which was like the Japanese concept of Kaizen and its adoption led to the production of world class goods and services thereby creating jobs and transforming the economy.

It said the partnership with MGL would facilitate advocacy for a wider adoption of Precision QualityTM (PQTM) by academia, industry, Master Craft Persons (MCP), artisans and MSMEs to build  their outputs to meet internationally recognized standards.

Miss Constance Elizabeth Swaniker, the Founder and Chief Executive Officer of DTI, was excited about the partnership with the Group because of the possibilities it would open for the nation and beyond.

She said, “Over the past 25 years, I have worked on a number of construction projects in Ghana and I find myself working alongside foreign artisans, who have been hired to do work that Ghanaians could easily do themselves if only we can change our mindsets regarding quality in industry, insist on standards and strive to meet deadlines.”

She said the Precision QualityTM was a very important tool that would help develop the right mindset and skills to address Ghana’s quality and unemployment issues.

The CEO said, “The media initiates and charts the course of national discourse by setting the agenda on important issues in the country and they inform their listeners or viewers of relevant issues by educating, informing and entertaining them using their platforms to achieve change and development.”

She said it was, therefore, important for them to work with the media to achieve the development needs of the country.

“Precision QualityTM has also been shown to increase profitability and efficiency of companies, especially micro, small and medium sized enterprises,” she added.

Dr Kodjo Mensah-Abrampa, Director General of the National Development Planning Commission (NDPC), said the media played an important role in helping diverse consumers and industry players appreciate and accept policy initiatives that improve the quality of life.

“The Multimedia Group presents a unique opportunity to reach people not only at the local level but in diverse local languages and this will go along way to help people access information on Precision Quality from the comfort of their homes, places of work and in the language they understand,” he added.

It will create understanding of how poor-quality goods and services hinder business growth and enable them to embrace change in their behaviour.

Mr. Abdulai Awudu, General Manager for Adom Brands at the Multimedia Group, said, “We at Multimedia understand and appreciate what it means when you do things to meet standards. That’s why we say, we are a fearless and independent media house.”

He said the MoU was timely and that the Multimedia Group was ready to help drive the adoption of PQ through its media platforms.

The MoU with MGL is part of DTI’s effort to work with key stakeholders including the Mastercard Foundation to help three million young people, particularly women, find dignified and fulfilling work opportunities by 2030.

 

 

Source: Ghana News Agency

Accra, Nov. 13, GNA – Madam Sharon Larbie, a Registered Dietician at The Trust Hospital says eating a balanced meal should never be compromised in the name of rising food prices due to economic hardship.

She said that physical health was paramount above all other things.

Food contributed to the growth and well-being of the body, so compromising on quality and frequency of eating well would affect a person’s health, Madam Larbie told the Ghana News Agency.

The Dietician, therefore, called on Ghanaian to endeavor to eat balanced meals regularly regardless of the harsh economic situation currently been experienced in the country.

“People need to invest more in the quality of food they eat more than material things,” she said.

Madam Larbie said there were many healthy food alternatives that could be patronize, which were less expensive.

She said what was important was to strategically plan to buy affordable but healthier food to meet the standard three-square meals of the individual.

She urged Ghanaians to plan their eating habits and make sure they ate three times a day, explaining that eating one heavy meal a day does not compensate for the required three-square meals.

“Instead of one expensive meal, you can spread and have cheaper alternatives three square meals a day, which can keep you healthy,” she added.

The Dietician said highly processed foods such as Cornflakes, Oats and Weetabix could be substituted with Corn porridge and tom brown, they are cheaper yet healthier.

“Currently a box of Corn flakes she says is sold around 70 cedis yet one can buy a cup of raw Tom Brown powder for 10 cedis and prepare for the whole family. It is nutritious and can equally fill your tummy”. She said.

She said there was the need to reduce over dependence on imported foreign vegetables such as Broccoli, Cauliflower, and Radish, which she said were costly as compared to indigenous vegetables like Kontonmire, Garden eggs, Ademe and Gboma.

 

Source: Ghana News Agency

The Ghana Integrated Aluminium Development Corporation (GIADEC) has introduced OPCL as the new majority shareholder of Ghana Bauxite Company (GBC) to the traditional leaders, Chiefs and people of Ahwiaso and Sefwi Bekwai in the Western North region.

OPCL, a wholly owned Ghanaian company in March 2022 acquired the total 80% shares in GBC, which was previously held by Chinese mining giant, Bosai Minerals Group Limited with the remainder 20% held by the Government of Ghana (GoG) following Bosai’s decision to pull out of operations and exit the country. GoG’s interest in GBC is held by GIADEC.

At a courtesy call, first on the President of the Western-North Regional House of Chiefs and Sefwi Ahwiaso Traditional Council, Ogyeahoho Yaw Gyebi II, at his Palace in Sefwi Ahwiaso, the traditional leader, who doubles as President of the National House of Chiefs, commended GIADEC for ensuring a seamless transition from the old to the new managers of GBC which has led to the continuity of work without any break.

He was particularly thankful to the CEO of GIADEC, Mr. Michael Ansah for playing an instrumental role in ensuring that there were no job losses during the transitional phase as that was a major concern especially for the local workers.

Ogyeahoho Yaw Gyebi II commended OPCL for taking up the management of GBC and urged them to ‘turn a new leaf’ in the operations of the company. According to him, the communities have not enjoyed any meaningful benefits especially during the administration of Bosai Minerals Group Limited and thus expects OPCL to do things differently.

He made a passionate appeal to OPCL and GIADEC to offer employment opportunities to the teeming youth in the area and keep the traditional council updated on major developments.

The delegation next stop was at the Palace of the President of Sefwi Bekwai Traditional Council, Oyeadeyie Basape Kwadwo Armah II for a formal introduction of OPCL as the new majority shareholder in GBC.

The team was welcomed by the Acting President of the Traditional Council, Katakyie Kwasi Afful who reiterated the need for OPCL not to neglect the community but see it as one of its key stakeholders.

He pledged his support and that of his people to the operations of GBC under the new management of OPCL adding that the success of GBC will bring massive developments to the communities that has eluded them for years.

Chief Executive Officer of GIADEC, Mr. Michael Ansah, expressed his gratitude to the traditional leaders for their continuous support to the Integrated Aluminium Industry (IAI) vision and assured them that he remains committed to the overriding goal of value addition.

He noted that GIADEC is working with the Government of Ghana and its new partner, OPCL, to stabilise the existing operations at Awaso. The new outlook for GBC, in the short to medium term, according to Mr. Ansah, is to ramp up production from 1 million tonnes per annum to 2 million per annum.

Touching on the role of OPCL in executing Project 1, one of four projects under the IAI, Mr. Ansah emphasized that GIADEC is currently assessing the capacity of OPCL to execute Project 1 which involves the expansion of the existing Awaso mine and building of a refinery.

On his part, the Executive Chairman of OPCL, Mr. Ofori Poku, was grateful to the traditional leaders for their endorsement and show of support. He assured them that GBC recognizes the traditional leaders and people in the communities as development partners and his visit is to rekindle and further strengthen the relationship existing between them.

The delegation from GIADEC included its Deputy CEO, Akwasi Osei-Adjei, Executive Assistant to the CEO, Kojo Yankah, Communications Manager, Sheriff Appiah, External Affairs and Sustainability Manager, Ernest Appiah, and Joseph Chibae Adjaho, member of the Communications team.

The delegation was also joined by Senior Executive Members of Ofori Poku Company Limited (OPCL).

 

 

Source: Ghana Web

Accra, Nov 9, GNA – Dr Owusu Afriyie Akoto, the Minister of Food and Agriculture, Wednesday said the Farmer Tribe Company Limited is licensed to engage in retailing in the country but not to import seeds.

The agrochemical company was duly registered with the Plant Protection and Regulatory Services Directorate (PPRSD) of the Ministry of Food and Agriculture (MoFA), as a retailer to sell seeds, on March 25, 2020, and had renewed its licence.

“This can be verified at PPRSD of MoFA,” he said.

Dr Afriyie Akoto said this in response to a question posed by Mr Abed-Nego Azumah Bandim, the Member of Parliament for Bunkpurugu, on whether Farmer Tribe, an agrochemical and seed distribution company based in Tamale, was licensed by the Ministry to import and sell hybrid maize seeds in Ghana.

He told Parliament that the company mobilised the hybrid maize seeds it sold from companies in Ghana engaged in the importation of seeds.

“Mr Speaker, for emphasis, therefore, Farmer Tribe is a retailing company with no license to import seeds into the country,” he said.

Dr Afriyie Akoto, therefore, urged farmers to petition him or other stakeholders for investigations and necessary actions against the company for any breach of business.

 

Source: Ghana News Agency

Accra, Nov. 04, GNA – The leading mobile telecommunication network in Ghana, MTN has partnered with the Ghana Football Association (GFA) to support the Black Stars with US$2 million as the Black Stars prepares for the 2022 FIFA World Cup in Doha, Qatar.

The deal is expected to end in January 2024, as it caters for the Black Stars’ participation in the World Cup and the 2024 Africa Cup of Nations (AFCON) in Ivory Coast.

Speaking at a short ceremony, Mr. Mustapha Ussif, the Minister of Youth and Sports (MoYS) expressed excitement about MTN’s continuous support to develop sports in the country.

He said, “from the days of Areeba to MTN, the brand has on many occasions supported the Black Stars on its journey to becoming one of the best national teams in the world”.

According to him, this was the right time the Black Stars needed support as they embark on a journey to represent Ghana at the Mundial.

Mr. Ussif, who is also the Member of Parliament for Yagaba-Kubori said the US$ 2 million support from the telecom giants would boost the confidence of the team to give off their best to achieve the target of winning the World Cup trophy for the first time in Ghana and Africa.

“Ghana’s historic qualification and performances at the FIFA World Cup since 2006, have largely been enhanced by the support of corporate Ghana. I am confident that this latest show of faith by MTN will motivate the team to Qatar and beyond,” he said.

He commended MTN Ghana for coming on board to support the GFA at a time Ghana is facing financial challenges.

Mr. Selorm Adadevoh, the Chief Executive Officer of MTN Ghana believes football can be used as a tool to connect with their customers and bring people together.

According to him, MTN was committed to sponsoring the senior national team of Ghana, having partnered with the GFA in the 2008 African Cup of Nations in Ghana, and being the headline sponsor of the MTN FA Cup.

He disclosed that the sponsorship was engineered by the President of Ghana, Nana Addo Dankwa Akufo-Addo, and other senior members of MTN Ghana.

Mr. Adadevoh encouraged Ghanaians to throw their support behind the national team to conquer the rest of the world.

Mr. Kurt Edwin Simeon-Okraku, the President of the GFA said, “MTN is the company that seeks the welfare of our people and provides platforms that people will not normally have to develop their God-given talents and to have a decent livelihood.”

According to the GFA President, the 26 players who would represent the country at the quadrennial tourney were ready to write their names in the books of Ghana’s football history and assured Ghanaians to expect the best from them.

He thanked Mr. Ussif and MTN Ghana for their unflinching support to develop football in Ghana.

The 2022 FIFA World Cup is set to kick off on November 20, 2022, with Ghana paired in Group H alongside Portugal, Uruguay, and South Korea.

 

 

Source: Ghana News Agency