Day: November 6, 2023

The Financial Services Authority (FSA) of Seychelles has launched an investigation into the allegations made against the International Corporate Service Provider (ICSP), Alpha Consulting, based in the capital Victoria.

This follows the collaborative news reports published online by the British Broadcasting Corporation (BBC), Seychelles Broadcasting Corporation (SBC) and Finance Uncovered, and the airing of an SBC documentary last week.

In a press communique on November 2, FSA said it condemns any unlawful business practices by any licensee and the use of registered entities for illicit purposes.

It said that local and international media have issued press reports alleging the involvement of a licensed firm, an ICSP, and other legal entities in a scheme to conceal the true ownership of limited partnerships registered in the UK.

“The reports allege that the firm has helped to form more than 900 UK partnerships under the laws of the UK which have allegedly used secrecy loopholes to attempt to conceal their true owners. The reports also make reference to certain persons that have been identified within the reports as being Seychelles legal and natural persons,” said FSA.

The media reports alleged that Alpha Consulting allowed others to establish companies that can operate in the UK without the identity of their real owners being known because a 100-year-old UK law made this possible.

The investigation by the BBC, Finance Uncovered and SBC “has analysed internal Alpha documents and thousands of company records to identify some of the people who secretly benefitted from the work of the offshore firm, based in the island nation in the Indian Ocean.”

“The investigation also reveals that Alpha, run by a Russian businesswoman named Victoria Valkovskaya, helped to create 927 limited partnerships – one in five of those registered in England, Wales and Northern Ireland since 2017,” said BBC news service.

Meanwhile, the Finance Uncovered report noted that Valkovskaya denied any wrongdoing and said that she had sent suspicious transaction reports (STRs) to the Financial Intelligence Unit after receiving new information from the journalist investigators.

Finance Uncovered also noted “There is no suggestion that … anyone else connected to Alpha Consulting acted illegally by fronting UK firms, or that they had any involvement in the management of these businesses. Decisions at these firms were taken by Alpha Consulting’s end clients.”

The FSA said that “should evidence of regulatory breaches be found from this investigation, the FSA will hold any individual responsible to account through the necessary enforcement action in accordance with the law.”

It added that together with other relevant authorities, in the Seychelles, it is committed to effectively implementing the Financial Action Task Force (FATF) Recommendations. It is also ensuring that licensees and regulated entities under its supervisory purview remain compliant with the applicable laws and regulations.

The Authority said it has “no tolerance for any activities which undermine the reputation and financial stability of the jurisdiction. The FSA remains committed to working collaboratively with other international bodies to mitigate the risks inherent to the sector including, but not limited to, the AML/CFT risks.”

Seychelles, an archipelago in the western Indian Ocean, was placed back on the EU blacklist last month, two months after the Global Forum on Transparency and Exchange of Information for Tax Purposes maintained the island nation’s rating as “partially compliant.”

The small island state then called for a review of the European Council listing criteria for its list of non-cooperative jurisdictions for tax purposes after it was added to the EU’s blacklist in October this year.

The main reason for Seychelles’ being blacklisted was because of difficulties encountered in responding to the exchange of information requests.

Source: Seychelles News Agency

Luanda – The National Assembly (AN) Speaker, Carolina Cerqueira, on Monday in Luanda highlighted the capacity and excellence of the domestic business community in carrying out the most varied tasks and missions.

The leader of the Angolan parliament made these remarks during the ceremony to award certificates to the different national entities that supported the holding of the 147th General Assembly of the Inter-Parliamentary Union (IPU), which the country hosted from 23 to 27 October this year.

For Carolina Cerqueira, “the contribution of the different national institutions in raising the country’s name to the highest levels was proud”.

In front of representatives of companies from the most diverse sectors, such as hotels, tourism, transport, telecommunications, banking, food and health, as well as members of the AN, officials, parliamentary agents and volunteers, she argued that all the success achieved was also due to the firmness, spirit of dedication and selflessness of those involved in the execution of the work.

Likewise, Carolina Cerqueira highlighted the preponderant role that young people had, which gives good indicators for the country, with these being the majority.

With this, she added, Angola has become an example for other countries in terms of organizing this type of event.

The 147th General Assembly, which took place under the motto “Parliamentary Action for Peace, Justice and Strong Institutions”, was attended by more than a thousand delegates from all over the world and the election of the Tanzanian MP, Tulia Ackson, to the post of president of the IPU, who will direct the destinies of this world organization for the next three years, took place.

Regarded as the pioneering international political organization, with more than 170 affiliated national parliaments and 12 associated regional parliamentary assemblies, the IPU is now the main parliamentary interlocutor of the United Nations and brings the voice of parliaments into the decision-making processes of the United Nations, regularly presenting its resolutions to the General Assembly, making statements, participating in debates and organizing parliamentary meetings on the main themes of the your schedule.

Source: Angola Press News Agency

The Ghana Export Promotion Authority (GEPA) has called on processors and local businesses to target African markets instead of focusing their products and services on European markets. According to Mr Frances Fosu-Kwakye, in charge of the Kumasi Zone of the GEPA, the African sub-region has a huge market and higher demands for local products than the European markets. He was speaking at the Ahafo Regional sensitization tour of the Ghana Investment Promotion Center (GIPC) held at Goaso, the regional capital and attended by chiefs and queens, business entrepreneurs, processors, farmers, and assembly members. The GIPC organised the event on the theme ‘Grow in Ghana, grow with Ghana’ to sensitize the participants on its mandate, opportunities, benefits and the need for local businesses, enterprises and processors to register with the Center. Mr Fosu-Kwakye said branding and packing remain essential in marketing, and so manufacturers and processors must improve the product quality to meet international standards. The Ghana Enterprises Agency, the GEPA and the Ghana Exim Bank supported the organisation of the sensitization programme which provided another opportunity for local businesses to network and explore investment prospects in the region. In a speech read on his behalf, Mr. George Boakye, the Ahafo Regional Minister, commended the GIPC saying the programme would help push economic growth and development in the region. He said Ahafo had huge economic prospects in agriculture, tourism, agro-processing, hospitality and mining and called on investors to capitalize on, explore and invest in the sectors. Dr. George Asafo-Agyei, Director of Monitoring and Evaluation, GIPC, underlined the need to expose local businesses to the numerous economic opportunities in the country and Africa.

Source: Ghana News Agency

Mr Ebenezer Kofi Essienyi, the Chief Executive Officer of Ghana Grid Company Limited (GRIDCo), has reiterated the mandate placed on employers by the Labour Act 2003 (Act 651) to take steps to ensure the safety of workers. He said the Act imposed an obligation on the employer to make sure the worker was free from risks of personal injury or damage to his or her health while on lawful duty on the employer’s premises. Mr Essienyi said this in a speech read on his behalf at the GRIDCo 2023 Corporate Safety Durbar to climax its annual safety awareness celebration on the theme: ‘A Safe and Healthy Working Environment is a Fundamental Principle and Right at Work.’ As part of the celebration, management and staff embarked on a health walk, breast cancer screening and awareness creation, and an interdepartmental safety quiz competition, among other things. The Sustainable Development Goal (SDG 8.8), which states that by 2030, employers must protect labour rights and promote safe and secure working environments for all workers, including migrant workers, particularly women, and those in precarious employment, was also included in the Labour Act, Mr Essienyi said. ‘In view of these obligations GRIDCo will do its best to ensure a safe and healthy working environment by ensuring that regular inspections are carried out at all work locations and provide the needed tools, equipment, and training to meet the mandate stated under its core values,’ he said. The management was also committed to providing the needed resources and implementing all recommendations in the safety inspection and audit reports to enhance productivity. MR Essienyi asked the Safety Management Team to conduct regular work area inspections to eliminate potential hazards and ensure the proper training of all staff as well as compliance by contractors with the provisions in the Safety Manual. He encouraged staff to be responsible for their health and overall well-being by taking their medical check-ups seriously. Mr Bernard Gyan, the Director of the Technical Services Department, in a welcome address, said the increased awareness of safety and work culture had led to a zero-harm year at GRIDCo. ‘Safe work is not just a slogan but a responsibility that ensures that workers returned home as whole as they reported to work,’ he said. Eighteen safety coordinators were awarded certificates under the second phase of training in the Occupational Safety and Health Administration (OSHA). Mr Blankson Paa Kwesi Joe received the Fire Fighting Award; Mr George Seidu Ayorna, the Incident and Accident Reporting Award; Mr Patrick Addae Elioneah, Life Saving Award, and Mr Alexander Emmanuel Frimpong, took the Award for House Keeping. GRIDCo also presented the Safety Collaboration Award to the Ghana National Fire Service for its support for the 15 years of the company’s existence.

Source: Ghana News Agency

Management and staff of the Electricity Company of Ghana Limited (ECG), Accra East Region have extended their show of love to flood-affected residents within the North Tongu District of the Volta Region. The items include drinks, water, mattresses, sanitisers, corn and cassava dough, and others. Mr Bismark Otoo, General Manager, who led the team from Accra to present the items on Sunday at Mepe, said it remained dear to their hearts to sympathise with the displaced families. He said the disaster had interrupted several economic activities in the area, adding ‘ECG provides power for the economic growth of our communities, but businesses have remained at a standstill due to what happened.’ Mr Otoo further disclosed that the gesture forms part of their individual contributions as staff of ECG to express their concern as partners in business. ‘We are here today to present these items that we have raised from the pockets of the over 810 ECG staff in Accra East.’ He said it was his hope to see the affected residents return to a standard style of living for the economic growth of the area. Mr Samuel Okudzeto Ablakwa, Member of Parliament for the area, who received the team together with the various traditional leaders, expressed their gratitude to the team for the timely gesture. Torgbe Azagba IV, the Warlord of Mepe Traditional Area, on behalf of the Chiefs and the people of North Tongu, thanked the team for their show of love. An official figure of over 1,500 homes, made up of 12,500 residents according to NADMO, have been displaced after the spillage of the Akosombo Dam. A total of 21 rescue camps within the district have since been created to host the affected residents.

Source: Ghana News Agency

The family revealed this on his official Instagram account.

Mr. Ibu his stage name, real name, John Okafor had been sick for a while now, but attempts to self care for the bills became a burden.

The actor reached out to fellow Nigerians for help and got massive support and reactions from stars like Davido and P square.

On Monday afternoon, the family released a statement revealing that the actor underwent 7 surgeries including amputation of a leg, to “keep him alive”

Source: Cameroon News Agency