Day: January 26, 2024

Accra: Plastic Collective, a leading social enterprise focused on solving the plastic waste epidemic, is to receive funding through a bond issued by The World Bank.

The funding would cover plastic waste collection and recycling projects in Ghana and Indonesia.

The innovative bond provides investors a financial return linked to Plastic Waste Collection Credits, Plastic Waste Recycling Credits (collectively, plastic credits), and Voluntary Carbon Units (carbon credits) expected to be generated by the two projects.

Projects benefiting from the transaction include ASASE Foundation in Ghana and SEARcular by Greencore Indonesia, both plastic waste collection and recycling projects in Accra, Ghana and Surabaya, Indonesia, respectively.

The ASASE Foundation in Ghana, is a community-based plastic waste collection and recycling project established in 2019.

The project involves starting small recycling plants as social enterprises in communities where plastic pollution is most severe, and empowering women entrepren
eurs to build their own plastic waste collection businesses as a sustainable source of income and employment.

The SEArcular by Greencore, Indonesia, a plastic waste collection and recycling plant established in 2018. It empowers coastal communities by providing training, employment and offering price premiums for the ocean bound plastic they collect.

SEArcular focuses on providing an appropriate end of life for more difficult to recycle plastic types.

According to a World Bank press release, Citibank acted as the sole structuring agent and bookrunner of the transaction.

The funding will help Plastic Collective’s mission to rid the world of plastic waste by channeling private capital to support plastic collection and recycling projects in remote and vulnerable communities to access sustainable finance and address extreme plastic leakage into nature and oceans.

‘A core objective of the projects is to improve informal waste collector’s livelihoods. There are approximately 20 million people who collect plast
ic waste operating around the world – typically 80% are women.

‘The projects supported by this bond are being certified under the Verra Plastic Waste Reduction Standard, Verified Carbon Standard and the newly launched Zero Plastic Oceans Plus Social Welfare Certification, which require important social safeguards to be met,’ the statement added.

It said: ‘Today an estimated 78 million tonnes of mismanaged plastic waste leaks into nature and oceans every year and a further 318 million tonnes go unrecycled into landfill and incineration (OECD).

‘The emergence of plastic credits, coupled with continuing education and effort to cut plastic use offer a prime opportunity to tackle this pressing environmental and social challenge,’ it explained.

The statement quoted Steve Hardman, CEO, Plastic Collective, saying: ‘We’re both proud and excited to see this funding effort come to fruition.

‘For almost a decade, Plastic Collective has been at the forefront of developing innovative and sustainable ways to fund plast
ic collection and recycling projects in the most disadvantaged communities around the world and to help provide finance to the normally unfinanceable,’ he noted.

He said the funding would enable the expansion of facilities and production lines, and the implementation of social welfare programmes to enhance and protect the livelihood of informal waste pickers who are the foundation of these projects.

‘We hope that this new approach to financing environmental, and social impact activities benefits many more in the future,’ he said.

‘This new bond is emblematic of the strong partnerships that are needed, particularly between investors, governments, financial institutions, and local delivery partners to achieve the Sustainable Development Goals (SDGs), including efforts to reduce plastics waste,’ Jorge Familiar, Vice President and Treasurer, World Bank said.

‘I am incredibly proud of the collaboration between the World Bank, Plastic Collective and Citi in launching this fourth Outcome Bond. Our collective eff
ort innovatively uses VERRA-registered plastic credits to support two projects to reduce plastic pollution -a huge global challenge with particularly devastating impacts on emerging markets.

‘This Outcome Bond allows fixed income investors to support development projects that would otherwise struggle to secure financing. We’re also responding to investor appetite for transactions with direct and quantifiable development impact.

‘We are hopeful that these transactions will inspire others – and drive further positive change,’ said Philip Brown, Global Head of Sustainable Debt Capital Markets.

Plastic Collective is a social enterprise which was founded in 2016 by Australian leading environmentalist Louise Hardman. Supported by government grants, Plastic Collective’s mission is to research and develop systemic approaches to reduce waste plastic, among other activities.

Source: Ghana News Agency

Accra: A 50-member delegation from the Pan-African Leadership Institute (PALI – Ghana) and Bakke Graduate University, Texas, United States of America, have visited the Parliament of Ghana as part of their Transformational Leadership Immersion Program in Ghana.

A statement issued by the Department of Public Engagement, Parliament of Ghana, and copied to the Ghana News Agency, Accra on Friday has said.

It said the purpose of the visit was to deepen the understanding of the officials and become conversant with parliamentary procedures and customs.

The statement quoted Dr Kofi Osei-Kusi, the leader of the delegation as saying that, ‘the visit was to promote Ghana’s Constitution and Governance through its Lawmakers while appreciating the peaceful and hospitable nature of its people to the world,’ it said.

It added that Mr Ebenezer Ahuma Djietror, the Deputy Clerk of Parliament, and Mr Augustine Tawiah, the National Democratic Congress Member of Parliament for Bia, briefed the delegation on the overview of Ghan
a’s Parliament and Ghana’s parliamentary responsibilities while emphasizing the rules, Constitution, and Affirmative Action.

‘More insights were also shared on the academic study of religion, and the various roles they play in nation-building,’ the statement said.

According to the statement, the delegation also had the opportunity to tour Ghana’s chamber.

Source: Ghana News Agency

Likpe: Mr Joshua G. Makubu, Oti Regional Minister, has revealed that the menace of cocoa smuggling in the Oti region was not only affecting revenue generation but also development such as cocoa roads.

He said in 2019, the region used to produce about 8,000 tonnes of cocoa but ‘as we speak the Oti region is struggling to even be able to make 100 tonnes’.

Mr Makubu said the decrease in production was not because the trees were not yielding but whatever cocoa produced was smuggled out of the country which was affecting revenue and development including the cocoa roads.

The Regional Minister made the observation at a Ghana Boundary Commission community engagement at Likpe, in the Guan District of the Oti Region.

He said: ‘Each time you are taking cocoa across the boundaries of Ghana, and you see any road untarred under the cocoa road project, you should know that we have done it for ourselves and not that government is not interested’.

He urged traditional leaders to talk to their subjects to see that the me
nace was stopped to build the nation and enjoy it.

Dr Makubu said he would meet the Regional Manager of the COCOBOD and get to know all the local buying points and find out if they had sufficient funds to be able to buy adding that if that was assured, the Regional Security Council would also ensure that they police the system and unapproved routes to apprehend the culprits.

He said the Region’s contribution to the national cocoa stock was affecting how much revenue the country made from the sale of cocoa and for that matter their roads since COCOBOD was not in the position to be able to continue the various cocoa road projects.

Mr Makubu said some cocoa roads had been abandoned in the Guan District as well as in Nkwanta including the road from Breweniase through Pusupu to Bontibor and linking up to the main Nkwanta road.

He said there had been some level of progress with the help of the National Security to curb the menace, but it was unsatisfactory and would continue to work with them and community lead
ers to ensure that the Region returned to its past glory of contributing not less than 9,000 tonnes to the country’s cocoa stock.

Source: Ghana News Agency

Mr Abdul Samad Nurudeen, a campaign team member of Mr Mubarik Abdullah Ciessey, one of the three aspirants contesting the Sunyani West constituency primaries of the New Patriotic Party (NPP) has entreated the delegates to endorse Mr Ciessey on Saturday.

Mr Ciessey and Lawyer Amma Frimpomaa have been going round canvassing for votes to unseat Mr Ignatius Baffour-Awuah, the incumbent Member of Parliament (MP) and Minister of Employment and Labour Relations in the Party’s forthcoming primaries.

The NPP has set Saturday, January 27 to conduct the parliamentary primaries in the constituencies with sitting MPs of the Party to elect the Party’s Election 2024 parliamentary candidates.

In an interview with the Ghana News Agency (GNA) in Sunyani, Mr Nurudeen indicated the aspirant had the edge to change the dynamics in politics in the constituency, not only to better the lives of the delegates but also the constituents.

‘Ciessey is a down-to-earth young person and his understanding of the needs of the young people
in the constituency puts him on the edge of the other aspirants,’ he stated.

 ‘I think the sitting MP has made his contributions and he must rest somewhere for youthful, fresh and digital minds to transform the political space to facilitate holistic development of the constituency,’ Mr Nurudeen stated.

He regretted that the Sunyani West constituency was bedevilled with challenges, including deplorable conditions of access roads, widespread poverty, and high youth unemployment, which threatened the security of the area.

‘It is unfortunate key party members are neglected despite their contributions that had enabled the NPP to retain the parliamentary seat for years and win the Elections 2016 and 2020’.

Mr Nurudeen advised the delegates to consider the long-term benefit and vote by merit, not allowing other aspirants to lure or buy their conscience with money and gifts.

‘Ciessey is a person who has connections and can provide opportunities for the young people to build their talents,’ he stated and advised
the delegates to vote for him for the purpose of development.

Source: Ghana News Agency

Sayikope: A trailer carrying some 600 bags of salt has collapsed the steel bridge at Sayikope and plunged into the Aklakpa River, causing commuters from Juapong, Adidome and Accra to be stranded.

The trailer, at the time of the accident weighs about 255 tonnes with its cargo, ignoring the signage of 25 tonnes, which is erected some metres to the bridge.

The incident, which occurred at about 2200 hours on Thursday, recorded no casualties after swift intervention of some of the residents.

Mr Osborn Fenu, the District Chief Executive for North Tongu disclosed that the ill-fated bridge was designed to withstand a maximum weight of 25 tonnes, a mere fraction of the load the vehicle was carrying.

He lamented that most drivers disregard the weight restrictions on local bridges in the district and emphasized the need for adherence to safety regulations.

Mr. Fenu, however, gave the assurance that the district’s engineering team were working tirelessly with the Regional Highways Authority to reconstruct a new brid
ge for the continuation of socio-economic activities.

Mr Ebenezer Adegah, the North Tongu District Engineer indicated that the Sayikope Bridge was weak and needed urgent reconstruction after his team had an intensive check on it a few months ago.

He said that the attention of the Bridges Engineering Department of the Ghana Highways Authority and the Volta River Authority (VRA) were drawn to the situation, and they were ready to fund the reconstruction of the bridge prior to its recent collapse.

Mr. Adegah stated that, ‘the police were contacted, and I hope that the driver will be engaged in further questioning for other legal actions to be taken.’

He said that awareness would be created to stop drivers and other commuters from using that route to avert any casualty.

The driver of the trailer (name unavailable) is said to be helping the Police to investigate the accident.

Source: Ghana News Agency

Cape Coast: Professor Johnson Nyarko Boampong, the Vice Chancellor of the University of Cape Coast (UCC), has entreated graduating teachers of the school to embrace technological and innovative teaching methods to make the best impact on their students.

He urged them to stay informed about educational policies and adapt accordingly while sharpening their communication and instructional techniques.

He said as teachers, it was critical for them to build rapport and have empathy towards their students to create a friendly academic environment where the students could reach their full potential.

The Vice Chancellor was addressing the first and second sessions of the university’s 56th congregation which graduated 6,819 students at the Institute of Education of the College of Education Studies.

The first session graduated 2,873 students who pursued five-semester sandwich programmes in education while the second session comprised 3,946 graduands who undertook three-semester programmes as well as beneficiaries of
the Ministry of Finance’s Ghana CARES Obantanpa TUC Programmes.

A total of 578 students graduated with first class, 3,493 with second class upper, 1,946 with second class lower, 581 with third class and 229 had passes.

Mr. Eric Osei was adjudged the overall best student with Grade Points Average (GPA) of 3.97 and awarded a laptop, undisclosed amount of cash and a plaque.

‘We are confident that you have been empowered with knowledge and skills to enable you to make a positive impact in the society, and the world at large.

‘Now that you have received quality education and skills, do not wait to be employed by the government. Go out there, and create your own jobs,’ Professor Boampong urged.

The Vice Chancellor intimated that despite the positive strides management had made towards infrastructural development, the school was still grappling with deficit in infrastructure, particularly in students’ accommodation on campus which had forced most students to rent hostels and apartments around campus.

The situa
tion, he bemoaned, had resulted in high incidence of theft and robbery attacks on students, undermining efforts to ensure the safety of students.

Prof. Boampong pointed to some failed agreements with certain organisations to build hostels in the past and expressed the school’s resolve to deal with the accommodation challenge through a collaboration with the UCC branch of the Ghana Universities’ Staff Superannuation Scheme.

Touting some achievements of the College of Education Studies, he said they were mentoring many Colleges of Education and organising continuous development programmes for in-service teachers in the Central Region in areas including good governance, finance, administration, and academic research.

He said in collaboration with the Ministry of Finance and the Trades Union Congress, the college was running special programmes for non-professional teachers in private schools under Ghana CARES Obatanpa programme.

He added that it also undertook a project to adopt selected low-performing basic
schools in Cape Coast to improve teaching and learning.

The Vice Chancellor further flaunted UCC’s position as the topmost ranked university in Ghana and West Africa and among the top 10 ranked universities in Africa.

He said the feat was unprecedented in any university in Ghana and assured that they would continue to forge strategic partnerships in areas of their core mandates to consolidate their achievements.

Prof. Boampong appealed to the university community to ensure that the campus was violence-free going into the 2024 general elections.

He admonished the student body, members of staff and management to be tolerant of one another, reminding them of the potential dangers which accompanied conflicts and war.

The valedictorian, Mr Osei, encouraged his colleagues to continue to add value to themselves and put their knowledge and skills to use to benefit society.

Source: Ghana News Agency